Consumer Innovation Portfolio Series 5

Under normal circumstances, the Trust will invest at least 80% of the value of its assets in companies that the Sponsor believes are innovative and produce products or services that may directly benefit and impact consumers. Innovative companies are those that create new technologies or novel product solutions, which may create new growth opportunities. The Trust will seek to invest in innovative companies that may have the ability to improve productivity, improve efficiency, reduce production costs or generate increased demand in consumer behaviors. The Trust will invest in companies the Sponsor feels have demonstrated a capacity to be innovative and are positioned to benefit from evolving consumer behavior in areas such as, but are not limited to, online retail, working from home, media streaming, gaming, online gambling, digital payments and eco-friendly transportation.

The Trust will invest in U.S.-listed common stocks, which may include the common stocks of U.S. and non-U.S. companies. The foreign securities that may be held by the Trust may include American Depositary Receipts (“ADRs”). The Trust may also invest in the securities of real estate investment Trusts (“REITs”). The Trust may invest in securities of companies of any market capitalization. As a result of this strategy, the Trust is concentrated in the information technology and consumer products sectors.

The Sponsor selects companies it believes are contributing to innovations directly benefiting and impacting consumers. The Sponsor begins with an universe consisting of all the securities included in the following indices: Dow Jones U.S. Large-Cap Total Stock Market Total Return Index, Dow Jones U.S. Small-Cap Total Stock Market Total Return Index, S&P Composite 1500^® Index, Nasdaq-100 Index and Russell 1000^® Index. From that universe, the Sponsor identifies approximately 125-150 securities of companies that the Sponsor believes to be innovative and bringing disruption to their industry. The Sponsor selects these innovative companies by favoring companies that:

• Earn returns on invested capital (ROIC) that is greater than their weighted average cost of capital (WACC)
• Invest in research and development and have capital expenditures to grow their product lines and production capacities
• Have a history of developing patents
• Grow their businesses organically from creating new products and services, rather than through acquisition

The Sponsor then reduces the universe of securities and selects the portfolio by following a disciplined process based on, but not limited to, the following factors:

• Valuation. The Sponsor may screen for reasonably valued companies based on measures such as price-to-earnings, price-to- book and price-to-cash flow.
• Growth. The Sponsor may screen for companies with a history of better than average growth of revenues, earnings and dividends (if applicable).
• Profitability. The Sponsor may screen for companies with a history of consistent and high profitability as measured by return-on-assets, return-on equity, gross margin and net margin.
• Liquidity. The Sponsor may screen for companies whose shares may not trade frequently enough to be able to be included in a portfolio.
• Balance Sheet. The Sponsor favors companies that possess overall financial strength and exhibit balance sheet improvements relative to their peers and the marketplace.
• Industry Leadership. The Sponsor favors companies that possess a strong competitive position among their domestic and global peers. Examples of a strong competitive position include, but are not limited to, possessing proprietary technology or processes, a brand strength, network effects, superior management or an absolute cost advantage.

Index Definitions:
The Dow Jones U.S. Large-Cap Total Stock Market Index is designed to measure the performance of large-cap U.S. equity securities. The Dow Jones U.S. Small-Cap Total Stock Market Index is designed to measure the performance of small-cap U.S. equity securities. The S&P Composite 1500 Index combines three leading indices, the S&P 500^®, the S&P MidCap 400^®, and the S&P SmallCap 600^®, to cover approximately 90% of U.S. market capitalization.The Nasdaq 100 Index includes 100 of the largest domestic and international non-financial companies listed on the Nasdaq Stock Market based on market capitalization.The Russell 1000^® Index measures the performance of the large-cap segment of the US equity universe. It is a subset of the Russell 3000^® Index and includes approximately 1,000 of the largest securities based on a combination of their market cap and current index membership.

As with all investments, you may lose some or all of your investment in the Trust. No assurance can be given that the Trust’s investment objective will be achieved. The Trust also might not perform as well as you expect. This can happen for reasons such as these:

• Securities prices can be volatile. The value of your investment may fall over time. Market value fluctuates in response to various factors. These can include stock market movements, purchases or sales of securities by the Trust, government policies, litigation, and changes in interest rates, inflation, the financial condition of the securities’ issuer or even perceptions of the issuer. Changes in legal, political, regulatory, tax and economic conditions may cause fluctuations in markets and securities prices, which could negatively impact the value of the Trust. Additionally, events such war, terrorism, natural and environmental disasters and the spread of infectious illnesses or other public health emergencies may adversely affect the economy, various markets and issuers. An outbreak of a novel form of coronavirus disease (“COVID-19”) was first detected in December 2019 and rapidly spread around the globe leading the World Health Organization to
  declare the COVID-19 outbreak a pandemic in March 2020 and resulting in major disruptions to economies and markets around the world. The complete economic impacts of COVID- 19 are not yet fully known. The COVID-19 pandemic, or any future public health crisis, is impossible to
  predict and could result in adverse market conditions which may negatively impact the performance of the Trust and the Trust's ability to achieve its investment objectives. Units of the Trust are not deposits of any bank and are not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.
• Share prices or dividend rates on the securities in the Trust may decline during the life of the Trust. There is no guarantee that share prices of the securities in the Trust will not decline and that the issuers of the securities will declare dividends in the future and, if declared, whether they will remain at current levels or increase over time.
• The Trust is concentrated in the information technology sector. As a result, the factors that impact the information technology sector will likely have a greater effect on this Trust than on a more broadly diversified Trust. Companies involved in this sector must contend with rapid changes in technology, intense competition, government regulation and the rapid obsolescence of products and services. Furthermore, sector predictions may not materialize and the companies selected for the Trust may not represent the entire sector and may not participate in the overall sector growth.
• The Trust is concentrated in the consumer products sector. As a result, the factors that impact the consumer discretionary sector will likely have a greater effect on this Trust than on a more broadly diversified Trust. General risks of companies in the consumer products sector include cyclicality of revenues and earnings, economic recession, currency fluctuations, changing consumer tastes, extensive competition, product liability litigation and increased government
  regulation. A weak economy and its effect on consumer spending would adversely affect companies in the consumer products sector. 
• The Trust invests in securities issued by small- and mid-capitalization companies. These securities customarily involve more investment risk than securities of large-capitalization companies. Small- and mid-capitalization companies may have limited product lines, markets or financial resources and may be more vulnerable to adverse general market or economic developments.
• The Trust may be susceptible to potential risks through breaches in cybersecurity. A breach in cybersecurity refers to both intentional and unintentional events that may cause the Trust to lose proprietary information, suffer data corruption or lose operational capacity. Such events could cause the Sponsor of the Trust to incur regulatory penalties, reputational damage, additional compliance costs associated with corrective measures and/or financial loss. In addition, cybersecurity breaches of the Trust’s third-party service providers, or issuers in which the Trust invests, can also subject the Trust to many of the same risks associated with direct cybersecurity breaches.
• The Trust is subject to risks arising from various operational factors and their service providers. Operational factors include, but not limited to, human error, processing and communication errors, errors of the Trust’s service providers, counterparties or other third-parties, failed or inadequate processes and technology or systems failures. Additionally, the Trust may be subject to the risk that a service provider may not be willing or able to perform their duties as required or contemplated by their agreements with the Trust. Although the Trust seeks to reduce these operational risks through controls and procedures, there is no way to completely protect against such risks.
• Inflation may lead to a decrease in the value of assets or income from investments.
• The Sponsor does not actively manage the portfolio. The Trust will generally hold, and may, when creating additional units, continue to buy, the same securities even though a security’s outlook, rating, market value or yield may have changed.

See “Investment Risks” in Part A of the prospectus and “Risk Factors” in Part B of the prospectus for additional information.