Data as of 10/30/2014

Shares Outstanding 18,800,000
Net Create/Redeem 0
Effective Tax Rate 37.33%
Tax Asset
Current Tax Asset $0
Deferred Tax Asset $0
Net Tax Asset $0
Tax Liability
Current Tax Liability $0
Deferred Tax Liability ($4,989,244)
Net Tax Liability ($4,989,244)
Net Deferred Tax Asset/(Liability)
Net Deferred Tax Asset/(Liability) ($4,989,244)
Valuation Allowance $0
Adjusted Net Deferred Tax Asset/(Liability) ($4,989,244)

The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted.

Cumulative return is the aggregate amount that an investment has gained or lost over time. Annualized return is the average return gained or lost by an investment each year over a given time period. Yorkville Funds’ NAVs are calculated using prices as of 4:00 PM Eastern Time.

The closing market price is the Mid-Point between the Bid and Ask price as of the close of exchange. Since the Fund's Shares typically do not trade in the secondary market until several days after the Fund's inception, for the period from inception to the first day of secondary market trading in Shares, the NAV of the Fund is used to calculate market returns.

Shares are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Brokerage commissions will decrease returns.

Solactive Indexes have been licensed for use by Exchange Traded Concepts, LLC. Yorkville Funds are not sponsored, endorsed, issued, sold, or promoted by Solactive, nor does this company make any representations regarding the advisability of investing in the Yorkville Funds.

The effective tax rate is an estimate of the tax rate at which the Fund would be taxed if tax was levied at a constant rate instead of a progressive rate. It consists of a federal effective tax rate as well as a state effective tax rate which are used to tax effect deferred tax assets and liabilities. It is based on management's best estimate of the tax rate with which income will be taxed at a subsequent point in time and is based in part, on available data from its underlying investments, current and expected tax legislation impacting the tax rate, and the manner the tax base is computed. The effective tax rate is updated as new data becomes available that directly impacts the Fund (e.g., portfolio rebalance) or indirectly impacts the Fund (e.g., M&A activity in the MLP industry).

The Fund will accrue deferred income taxes for any future tax liability associated with (i) that portion of MLP distributions considered to be a tax-deferred return of capital as well as (ii) capital appreciation of its investments. The Fund’s accrued deferred tax liability will be reflected each day in the Fund’s NAV. Increases in deferred tax liability will decrease NAV. Conversely, decreases in deferred tax liability will increase NAV. In the case of a deferred tax asset, the Fund’s NAV will be unaffected. The Fund generally computes deferred income taxes based on the federal tax rate applicable to corporations, currently 35% and an assumed rate attributable to state taxes. A change in the federal tax rate applicable to corporations and, consequently, any change in the deferred tax liability of the Fund, may have a significant impact on the NAV of the Fund. The Fund’s current and deferred tax liability, if any, will depend upon the Fund’s net investment income gains and losses and realized and unrealized gains and losses on investments and therefore may vary greatly from year to year depending on the nature of the Fund’s investments, the performance of these investments and general market conditions. The Fund will rely to some extent on information provided by the MLPs, which is not necessarily timely, to estimate deferred tax liability for purposes of financial statement reporting and determining the NAV.

Carefully consider the Funds' investment objectives, risk factors, charges and expenses before investing. This and additional information can be found in the Funds’ prospectus, which may be obtained by clicking here. Read the prospectus carefully before investing.

Investing involves risk, including the possible loss of principal.

Narrowly focused investments typically exhibit higher volatility. The energy industry is highly volatile due to significant fluctuation in the prices of energy commodities, as well as political and regulatory developments. Rising interest rates could adversely impact the performance and/or the present value of cash flow of MLPs operating in the energy sector. The abilities of MLPs operating in the energy sector to grow and increase cash distributions can be highly dependent on their ability to make acquisitions that generate increasing cash flows.

Investments in common units of MLPs involve risks that differ from investments in common stock including risks inherent in the structure of MLPs, including (i) tax risks, (ii) risk related to limited control of management or the general partner or managing member, (iii) limited rights to vote on matters affecting the MLP, except with respect to extraordinary transactions, and (iv) conflicts of interest between the general partner or managing member and its affiliates and the limited partners or members, including those arising from incentive distribution payments or corporate opportunities, and cash flow risks. General partners typically have limited fiduciary duties to an MLP, which could allow a general partner to favor its interests over the MLP’s interests. MLP common units can be affected by macro-economic and other factors affecting the stock market in general, expectations of interest rates, investor sentiment towards MLPs or the energy sector, changes in a particular issuer’s financial condition, or unfavorable or unanticipated poor performance of a particular issuer (in the case of MLPs, generally measured in terms of distributable cash flow). Prices of common units of individual MLPs and other equity securities also can be affected by fundamentals unique to the partnership or company, including cash flow growth, cash generating power and distribution coverage. See the prospectus for more detail.

The fund invests in royalty trusts, which are dependent upon the product and sales of natural resources; as the resources deplete, production and cash flows steadily decline, which may decrease distribution rates to the fund.

The fund is treated as a regular corporation for federal income tax, which differs from most investment companies. Unlike traditional ETFs, the Fund is subject to U.S. federal income tax as well as state and local income taxes. Further, the amount of taxes currently paid by the Fund will vary depending on the amount of income, and gains derived from investments and/or sales of MLP interests and such taxes will reduce your return. A portion of the Fund’s distributions will be treated as a return of capital for tax purposes. To the extent distributions represent a return of capital; an investor’s cost basis will be reduced at the time of sale potentially increasing taxes owed.

The potential tax benefits from investing in MLPs depend on them being treated as partnerships for federal income tax purposes. If the MLP is deemed to be a corporation then its income would be subject to federal taxation at the entity level, reducing the amount of cash available for distribution to the fund which could result in a reduction of the fund's value.

The Fund may defer income taxes for many years on gains attributable to its underlying MLP holdings and the deferred tax liability used to calculate the Fund’s NAV could vary dramatically from the Fund’s actual tax liability. Upon sale of an MLP security, the Fund may be liable for previously deferred taxes and, as a result, the determination of the Fund’s actual tax liability may substantially increase expenses and lower the Fund’s NAV.

Unlike most ETFs, the Fund expects to effect share redemptions principally for cash, rather than in-kind, which may make the Fund less tax-efficient than an investment in a conventional ETF. Furthermore, the Fund may need to sell portfolio securities in order to raise cash for redemptions. These factors may increase transaction costs and result in the Fund having wider bid and offering spreads than conventional ETFs.

Exchange Traded Concepts, LLC serves as the investment advisor and Yorkville ETF Advisors, LLC and Index Management Solutions, LLC serve as sub advisors to the fund. The Funds are distributed by SEI Investments Distribution Co., which is not affiliated with Exchange Traded Concepts, LLC or any of its affiliates.