A closed-end equity fund using covered call options for income generation

NYSE

The investment seeks capital appreciation and income. The adviser utilize two principal investment strategies: a premium collection strategy involving sale or purchase of put options on the S&P 500 Index and investing in fixed income securities. The fund's adviser will determine the allocation between these strategies. The adviser intends to allocate between 30% to 100% of the fund's net assets to the premium collection strategy at any given time.

Nasdaq

PPFIX

The investment seeks long term capital appreciation. The fund seeks to achieve its investment objective by investing directly, or indirectly in: capitalization-weighted U.S. large capitalization exchange-traded funds ("ETFs") that invest in equity securities that are represented in the S&P 500 Index, exchange-traded long-term put options on the S&P 500 Index for hedging purposes, and exchange-traded put and call options on various equity indices to generate additional returns.

SDAIX

The fund seeks to achieve its investment objective by investing directly, or indirectly through exchange traded funds ("ETFs"), in equity securities that are represented in the S&P 500 Index, exchange-traded long-term put options on the S&P 500 Index for hedging purposes, and buying and selling exchange-traded put and call options on various equity indices to generate additional returns.

SDRIX

The investment seeks long-term capital appreciation. Under normal market conditions, the fund seeks to achieve its investment objective by investing in put and call options on exchange traded funds (ETFs) that track the S&P 500 Index (Index ETFs), and in fixed income securities. Using a combination of put and call options on index ETF's, the fund's investment sub-advisor, Exceed Advisory LLC initially executes the equity options strategy by seeking to provide an investment vehicle that limits losses to 12.5% when the Index declines in value, and to participate in increases in the index up to approximately 15%.

SHIIX

The fund combines multiple investment strategies and investment techniques that are designed to generate return and manage risk exposure across varying market conditions. The advisor expects that (i) approximately 30% to 70% of the fund's assets will be allocated to the Equity Position, (ii) approximately 30% to 50% of the fund's assets will be allocated to the Income Position and (iii) approximately 2% to 30% of the fund's assets will be allocated to the Market Movement Position.

Symbol	Full Name	Category	Inception	Expense Ratio	YTD Return	10Y Return (Annualized)	Dividend Yield	Risk / Return Rank
MCN	XAI Madison Equity Premium Income Fund	Options Trading	Jan 1, 2015	0.02%	-0.34%	8.13%	12.41%	10
PPFIX	Princeton Premium Fund	Options Trading	Nov 15, 2016	1.95%	1.35%	—	5.62%	92
SDAIX	Swan Defined Risk Growth Fund	Options Trading	Dec 26, 2018	1.40%	-4.28%	—	0.00%	46
SDRIX	Swan Defined Risk Fund	Options Trading	Jul 29, 2012	1.18%	-2.37%	5.14%	10.81%	51
SHIIX	Catalyst Buffered Shield Fund	Options Trading	Apr 13, 2015	1.23%	-1.01%	6.92%	3.05%	64
STTIX	North SquareTrilogy Alternative Return Fund	Options Trading	Apr 1, 2012	1.38%	-0.37%	1.92%	4.70%	29

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