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© 2017 USA MUTUALS. • Shareholder Services • 1-866-264-8783

The USA MUTUALS Funds are offered only to United States residents, and information on this site is intended only for such persons. Nothing on this web site should be considered a solicitation to buy or an offer to sell shares of any USA MUTUALS Fund in any jurisdiction where the offer or solicitation would be unlawful under the securities laws of such jurisdiction. Please refer to the prospectus for important information about the investment company including objectives, risks, charges and expenses. Read and consider it carefully before investing. You may also obtain a hardcopy of the prospectus by calling 1-866-264-8783.

Mutual fund investing involves risk; principal loss is possible. The Vice Fund will concentrate its net assets in industries that have significant barriers to entry including the alcoholic beverages, tobacco, gaming and defense/aerospace industries. The Fund may be subject to risks affecting those industries, including the risk that the securities of companies within those industries will underperform due to adverse economic conditions, regulatory or legislative changes or increased competition affecting those industries, more than would a fund that invests in a wide variety of industries. The Fund invests in foreign securities which involve greater volatility and political, economic and currency risks and differences in accounting methods. The Fund invests in smaller companies, which involve additional risk such as limited liquidity and greater volatility.

The USA Mutuals Funds are distributed by Quasar Distributors, LLC.

The Barrier Fund name was changed to the Vice Fund on October 1, 2016.

S&P 500 Index is considered to be generally representative of the U.S. large capitalization stock market as a whole. You cannot invest directly in an index. Unmanaged index returns do not reflect fees, expenses or sales charges.