Label

Element

Value

The Acquirers Fund

Prospectus [Line Items]

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Risk/Return [Heading]

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The Acquirers Fund

Supplement to Prospectus [Text Block]

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The Acquirers Fund (ZIG)

(the “Fund”)

April 16, 2024

Supplement to the Summary Prospectus, Prospectus,

and Statement of Additional Information, each dated August 31, 2023

Effective May 1, 2024, the management fee for the Fund has been reduced to an annual rate of 0.79% of the Fund’s average daily net assets. All references to the Fund’s management fee in the Fund’s Summary Prospectus, Prospectus, and Statement of Additional Information are revised to reflect the reduced amount.

The following information replaces the sections of the Summary Prospectus and Prospectus entitled “Fees and Expenses of the Fund” and “Expense Example”:

Expense [Heading]

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Fees and Expenses of the Fund

Expense Narrative [Text Block]

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The following table describes the fees and expenses you may pay if you buy, hold, and sell shares of the Fund (“Shares”). You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and Example below.

Operating Expenses Caption [Text]

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Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)

Expenses Restated to Reflect Current [Text]

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Restated to reflect current fees and expenses.

Expense Example [Heading]

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Expense Example

Expense Example Narrative [Text Block]

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This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then continue to hold or redeem all of your Shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same.

Expense Example by, Year, Caption [Text]

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Although your actual costs may be higher or lower, based on these assumptions your costs would be:

Supplement Closing

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Please retain this Supplement with your Summary Prospectus, Prospectus,

and Statement of Additional Information for future reference.

The Acquirers Fund | The Acquirers Fund

Prospectus [Line Items]

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Trading Symbol

dei_TradingSymbol

ZIG

Management Fees (as a percentage of Assets)

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0.79%

^[1]

Distribution and Service (12b-1) Fees

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none

Other Expenses (as a percentage of Assets):

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none

Expenses (as a percentage of Assets)

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0.79%

Expense Example, with Redemption, 1 Year

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$ 81

Expense Example, with Redemption, 3 Years

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252

Expense Example, with Redemption, 5 Years

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439

Expense Example, with Redemption, 10 Years

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$ 978

[1] Restated to reflect current fees and expenses.