AlphaFactor^® Tactical International Fund

Equity

NAV as of 11/06/25

	$ Daily Nav	$ Day Change	Week High	Week Low
Class I	13.64	-0.02	13.87	13.64

The performance data quoted here represents past performance. Current performance may be lower or higher than the performance data quoted above. For performance information current to the most recent month-end, please call Fund administrator's shareholder services toll-free at (855)733-3863. Past performance is no guarantee of future results. The investment return and principal value of an investment will fluctuate so that investors’ shares, when redeemed, may be worth more or less than their original cost. The Fund's total annual operating expense ratio for Class I is 1.91%.

Objective

The AlphaFactor^® Tactical International Fund seeks to generate long-term total return with capital preservation as a secondary objective. The Fund seeks long-term total return, through non-U.S. domiciled equity exposure, and tactical management of downside loss by utilizing proprietary quantitative driven research.

Highlights

Seeks to track the performance of the Adviser’s proprietary index, The AlphaFactor^® Tactical International Index.
A risk managed smart beta approach to international equity exposure in today’s market environment.
Seeks to facilitate international (non-U.S.) upside participation, while attempting to avoid significant losses similar to those that have historically occurred with international equity exposure.
Seeks to hold a diversified portfolio of international exposure focused on “liquidity theory” along with other quantitative factors that historical research has identified as attractive when various risk measurements indicate average or below average market risk, and money market or short-term bond exposure, when various risk measurements indicate above average market risk.

Investors should carefully consider the investment objectives, risks, charges and expenses of the Redwood Tactical International Fund. This and other important information about the Fund is contained in the prospectus, which can be obtained by calling 1-855-733-3863. The prospectus should be read carefully before investing. The Redwood Tactical International Fund is distributed by Northern Lights Distributors, LLC, Member FINRA/SIPC. Redwood Investment Management, LLC is not affiliated with Northern Lights Distributors, LLC.

Risk Disclosure

Investing involves risk, including loss of principal. There is no guarantee that any investment strategy will achieve its objectives, generate profits or avoid losses.

A Fund’s direct or indirect investments in foreign securities, including depositary receipts, involve risks not associated with investing in U.S. securities that can adversely affect the Fund’s performance. Foreign markets, particularly emerging markets, may be less liquid, more volatile and subject to less government supervision than domestic markets.

Definitions

AlphaFactor Tactical International Index: AlphaFactor Tactical International Index Strategy utilizes a quantitative, factor-based, investment methodology focused on large and middle capitalization stocks of both developed and emerging markets outside of the U.S. The Strategy also employs a multi-factor tactical risk management overlay that seeks to exit positions during periods identified by the advisor as above-average risk.

Liquidity Theory: Liquidity Theory is an investment approach based on the economic principle of supply and demand, which posits that stock prices are influenced by the relative availability of shares and investor demand—such that prices tend to rise when fewer shares are chased by the same capital, and fall when share supply exceeds demand.

Beta: Beta measures how closely an investment’s returns move with the overall market and is used to assess the investment’s market-related risk or volatility.

Fund Advisor

Redwood is an investment advisor to registered mutual funds, ETF, separately managed accounts, subadvisory accounts, unified managed accounts, and model portfolios. Redwood is an Investment Advisor registered with the SEC under the 1940 Advisor’s Act. Such registration with SEC does not imply certain level of skill or training and no inference to contrary should be made. To learn more about the Fund Advisor, click here.