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<p style="margin: 0px; font-size: 14pt"><b>COMPASS EMP MULTI-ASSET BALANCED FUND</b></p>
<p style="margin: 0px; font-size: 14pt"><b>COMPASS EMP MULTI-ASSET GROWTH FUND</b></p>
<p style="margin: 0px; font-size: 14pt"><b>COMPASS EMP ALTERNATIVE STRATEGIES FUND</b></p>
<p style="margin: 0px"><b>Investment Objective:</b></p>
<p style="margin: 0px"><b>Investment Objective:</b></p>
<p style="margin: 0px"><b>Investment Objective:</b></p>
<p style="margin: 0px">The Compass EMP Multi-Asset Balanced Fund's (“Balanced Fund”) primary objective is to achieve current income,</p>
<p style="margin: 0px">The Compass EMP Multi-Asset Growth Fund’s (“Growth Fund”) objective is to achieve long-term capital appreciation.</p>
<p style="margin: 0px">The Compass EMP Alternative Strategies Fund's (“Alternative Fund”) objective is long-term capital appreciation</p>
<p style="margin: 0px"><b>Fees and Expenses of the Fund.</b></p>
<p style="margin: 0px"><b>Fees and Expenses of the Fund.</b></p>
<p style="margin: 0px"><b>Fees and Expenses of the Fund.</b></p>
<p style="margin: 0pt">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.
You may qualify for sales charge discounts on purchases of Class A shares if you and your family invest, or agree to
invest in the future, at least $50,000 in the Compass EMP Funds. More information about these and other discounts is
available from your financial professional and in <i>How to Purchase Shares</i> on page 27 of the Fund’s Prospectus.</p>
<p style="margin: 0pt">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.
You may qualify for sales charge discounts on purchases of Class A shares if you and your family invest, or agree to invest
in the future, at least $50,000 in the Compass EMP Funds. More information about these and other discounts is available from
your financial professional and in <i>How to Purchase Shares</i> on page 27 of the Fund’s Prospectus. </p>
<p style="margin: 0pt">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.
You may qualify for sales charge discounts on purchases of Class A shares if you and your family invest, or agree to invest
in the future, at least $50,000 in the Compass EMP Funds. More information about these and other discounts is available from
your financial professional and in <i>How to Purchase Shares</i> on page 27 of the Fund’s Prospectus. </p>
<p style="margin: 0px"><b>Shareholder Fees (fees paid directly from your investment)</b></p>
<p style="margin: 0px"><b>Shareholder Fees (fees paid directly from your investment)</b></p>
<p style="margin: 0px"><b>Shareholder Fees (fees paid directly from your investment)</b></p>
<p style="margin: 0px; font-size: 9pt"><b>Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)</b></p>
<p style="margin: 0px; font-size: 9pt"><b>Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)</b></p>
<p style="margin: 0px; font-size: 9pt"><b>Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)</b></p>
<p style="margin: 0px"><u>Example:</u></p>
<p style="margin: 0px"><u>Example:</u></p>
<p style="margin: 0px"><u>Example:</u></p>
<p style="margin: 0px">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.</p>
<p style="margin: 0px">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.</p>
<p style="margin: 0px">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.</p>
<p style="margin: 0px">The example assumes that you invest $10,000 in the Fund for the time periods indicated and then 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 each Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based upon these assumptions your costs would be:</p>
<p style="margin: 0px">The example assumes that you invest $10,000 in the Fund for the time periods indicated and then 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 each Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based upon these assumptions your costs would be:</p>
<p style="margin: 0px">The example assumes that you invest $10,000 in the Fund for the time periods indicated and then 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 each Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based upon these assumptions your costs would be:</p>
<p style="margin: 0px"><b><u>Portfolio Turnover:</u></b></p>
<p style="margin: 0px"><b><u>Portfolio Turnover:</u></b></p>
<p style="margin: 0px"><b><u>Portfolio Turnover:</u></b></p>
<p style="margin: 0px">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the most recent fiscal year, the portfolio turnover rate of the Predecessor Fund (defined below) was 58% of the average value of its portfolio.</p>
<p style="margin: 0px">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the most recent fiscal year, the portfolio turnover rate of the Predecessor Fund (defined below) was 108% of the average value of its portfolio.</p>
<p style="margin: 0px">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the most recent fiscal year, the portfolio turnover rate of the Predecessor Fund (defined below) was 137% of the average value of its portfolio.</p>
<p style="margin: 0px"><b>Principal Investment Strategies</b></p>
<p style="margin: 0px"><b>Principal Investment Strategies</b></p>
<p style="margin: 0px"><b>Principal Investment Strategies</b></p>
<p style="margin: 0">The Balanced Fund seeks to achieve its investment objectives by investing in a portfolio of exchange traded funds (“ETFs”), equities (including common stock), fixed income securities and futures contracts (including commodity, currency and financial futures). The Fund advisor will select the appropriate investment vehicle based on the strategy of the particular asset class within the investment portfolio. The Fund invests primarily in fixed income, equity and alternative (including commodity, currency, hedging and real estate) securities, with an emphasis on fixed income. Under normal market conditions, the Balanced Fund invests at least 25% of its net assets in equity securities and at least 25% of its assets in fixed income securities.</p>
<p style="margin: 0"> </p>
<p style="margin: 0">The Fund uses a proprietary global asset allocation model that seeks to produce lower volatility with a similar or greater return over a full market cycle compared to traditional market indexes. The rules-based asset allocation methodology used to manage the Fund’s portfolio consists of restrictions, constraints and criteria for the purchase or sale of each individual asset class, security or strategy. Because the Fund follows a rules-based asset allocation strategy, the performance of the Fund is not intended to track or correlate the performance of any particular securities index.</p>
<p style="margin: 0"> </p>
<p style="margin: 0">The Advisor selects securities and strategies that invest across a broad range of global asset classes including, but not limited to, U.S., international and emerging markets stocks, including small, mid and large capitalization companies, U.S. and international bonds, U.S. and international real estate, commodities and currencies. Although the Advisor selects securities from a broad range of asset classes, the market capitalization of the equity securities in which the Fund may invest are not a factor considered by the Advisor in making investment decisions for the Fund. In considering fixed income securities or ETFs that invest in fixed income securities in which the Fund may invest, the average credit rating for these securities will be investment grade (which the Advisor defines as having a rating of BBB and above) and the Advisor will focus on fixed income securities or ETFs with an intermediate average maturity (defined as between 3 and 7 years), although the Fund may invest in fixed income securities or ETFs with any average credit rating or maturity.</p>
<p style="margin: 0"> </p>
<p style="margin: 0">The Fund will invest up to 25% of its total assets in a wholly-owned and controlled subsidiary (the “Subsidiary”). The Subsidiary will invest primarily in (long and short) commodity, currency and financial futures, as well as fixed income securities and other investments intended to serve as margin or collateral for the Subsidiary’s derivative positions. When viewed on a consolidated basis, the Subsidiary is subject to the same investment restrictions as the Fund.</p>
<p style="margin: 0">The Growth Fund seeks to achieve its investment objective by investing in a portfolio of exchange traded funds (“ETFs”) equities (including common stocks), fixed income securities and futures contracts (including commodity, currency and financial futures). The Fund’s advisor will select the appropriate investment vehicle based on the strategy of the particular asset class within the investment portfolio. The Fund invests primarily in fixed income, equity and alternative (including commodity, currency, hedging and real estate) securities.</p>
<p style="margin: 0"> </p>
<p style="margin: 0">The Fund uses a proprietary global asset allocation model that seeks to produce lower volatility with a similar or greater return over a full market cycle compared to traditional market indexes. The rules-based asset allocation methodology used to manage the Fund’s portfolio consists of restrictions, constraints and criteria for the purchase or sale of each individual asset class, security or strategy. Because the Fund follows a rules-based asset allocation strategy, the performance of the Fund is not intended to track or correlate the performance of any particular securities index.</p>
<p style="margin: 0"> </p>
<p style="margin: 0">The Advisor selects securities and strategies that invest across a broad range of global asset classes including, but not limited to, U.S., international and emerging markets stocks, including small, mid and large capitalization companies, U.S. and international bonds, U.S. and international real estate, commodities and currencies. Although the Advisor selects securities from a broad range of asset classes, the market capitalization of the equity securities in which the Fund may invest are not a factor considered by the Advisor in making investment decisions for the Fund.</p>
<p style="margin: 0"> </p>
<p style="margin: 0">The Fund will invest up to 25% of its total assets in a wholly-owned and controlled subsidiary (the “Subsidiary”). The Subsidiary will invest primarily in (long and short) commodity, currency and financial futures, as well as fixed income securities and other investments intended to serve as margin or collateral for the Subsidiary’s derivative positions. When viewed on a consolidated basis, the Subsidiary is subject to the same investment restrictions as the Fund.</p>
<p style="margin: 0">The Fund seeks to achieve its investment objectives by investing in a portfolio of exchange traded funds (“ETFs”), equities (including common stock), fixed income securities and futures contracts (including commodity, currency and financial futures). The Fund advisor will select the appropriate investment vehicle based on the strategy of the particular asset class within the investment portfolio. The Fund invests primarily in fixed income, equity and alternative securities, with an emphasis on alternatives (including commodity, currency, hedging and real estate). The Fund’s strategy generally focuses on investments that have the potential to provide capital appreciation.</p>
<p style="margin: 0"> </p>
<p style="margin: 0">The Fund uses a proprietary global asset allocation model that seeks to produce lower volatility with a similar or greater return over a full market cycle compared to traditional market indexes. The rules-based asset allocation methodology used to manage the Fund’s portfolio consists of restrictions, constraints and criteria for the purchase or sale of each individual asset class, security or strategy. Because the Fund follows a rules-based asset allocation strategy, the performance of the Fund is not intended to track or correlate the performance of any particular securities index.</p>
<p style="margin: 0"> </p>
<p style="margin: 0">The Advisor selects securities and strategies that invest across a broad range of global asset classes including, but not limited to, U.S., international and emerging markets stocks, including small, mid and large capitalization companies, U.S. and international bonds, U.S. and international real estate, commodities and currencies. Although the Advisor selects securities from a broad range of asset classes, the market capitalization of the equity securities in which the Fund may invest are not a factor considered by the Advisor in making investment decisions for the Fund. In considering fixed income securities or ETFs that invest in fixed income securities, the average credit rating for these securities will be investment grade (which the Advisor defines as having a rating of BBB and above) and the Advisor will focus on fixed income securities or ETFs with an intermediate average maturity (defined as between 3 and 7 years), although the Fund may invest in fixed income securities or ETFs with any average credit rating or maturity.</p>
<p style="margin: 0"> </p>
<p style="margin: 0">The Fund will invest up to 25% of its total assets in a wholly-owned and controlled subsidiary (the “Subsidiary”). The Subsidiary will invest primarily in (long and short) commodity, currency and financial futures, as well as fixed income securities and other investments intended to serve as margin or collateral for the Subsidiary's derivative positions. When viewed on a consolidated basis, the Subsidiary is subject to the same investment restrictions as the Fund.</p>
<p style="margin: 0px;"><b>Principal Risks of Investing in the Fund</b></p>
<p style="margin: 0px;"><b>Principal Risks of Investing in the Fund</b></p>
<p style="margin: 0px;"><b>Principal Risks of Investing in the Fund</b></p>
<p style="margin: 0px">As with any mutual fund, there is no guarantee that the Fund will achieve its goal. The Fund’s returns will vary and you could lose money on your investment in the Fund.</p>
<p style="margin: 0px"> </p>
<p style="margin: 0px"><b>• Commodity Risk.</b> Commodity-related risks include production risks caused by unfavorable weather, animal and plant disease, geologic and environmental factors. Commodity-related risks also include unfavorable changes in government regulation such as tariffs, embargoes or burdensome production rules and restrictions. The Fund is also subject to commodity concentration risk because it normally invests over 25% of its assets in the commodities industries.</p>
<p style="margin: 0px"> </p>
<p style="margin: 0px"><b>•Currency Risk.</b> The Fund’s net asset value could decline as a result of changes in the exchange rates between foreign currencies and the U.S. dollar. Additionally, certain foreign countries may impose restrictions on the ability of issuers of foreign securities to make payment of principal and interest to investors located outside the country, due to blockage of foreign currency exchanges or otherwise.</p>
<p style="margin: 0px"> </p>
<p style="margin: 0px"><b>•Fixed Income Risk.</b> The value of the Fund’s direct or indirect investments in fixed income securities will fluctuate with changes in interest rates. Typically, a rise in interest rates causes a decline in the value of fixed income securities owned by the Fund. On the other hand, if rates fall, the value of the fixed income securities generally increases. The value of fixed income securities typically falls when an issuer's credit quality declines and may even become worthless if an issuer defaults.</p>
<p style="margin: 0px"> </p>
<p style="margin: 0px"><b>•Foreign Exposure Risk.</b> Special risks associated with investments in foreign markets may include less liquidity, greater volatility, less developed or less efficient trading markets, lack of comprehensive company information, political instability and differing auditing and legal standards.</p>
<p style="margin: 0px"> </p>
<p style="margin: 0px"><b>•Futures Risk.</b> The Fund’s use of futures contracts exposes the Fund to leverage and tracking risks because a small investment in futures contracts may produce large losses and futures contracts may not be perfect substitutes for securities.</p>
<p style="margin: 0px"> </p>
<p style="margin: 0px"><b>•Liquidity Risks.</b> Liquidity risk exists when particular investments of the Fund would be difficult to purchase or sell, possibly preventing the Fund from selling such illiquid securities at an advantageous time or price, or possibly requiring the Fund to dispose of other investments at unfavorable times or prices in order to satisfy its obligations.</p>
<p style="margin: 0px"> </p>
<p style="margin: 0px"><b>•Management Risk.</b> The Advisor’s asset selection methodology may produce incorrect judgments about the value a particular asset and may not produce the desired results.</p>
<p style="margin: 0px"> </p>
<p style="margin: 0px"><b>•Preferred Stock Risk.</b> The value of preferred stocks will fluctuate with changes in interest rates. Typically, a rise in interest rates causes a decline in the value of preferred stock. Preferred stocks are also subject to credit risk, which is the possibility that an issuer of preferred stock will fail to make its dividend payments.</p>
<p style="margin: 0px"> </p>
<p style="margin: 0px"><b>•Real Estate Risk.</b> The value of real estate investments are subject to the risks of the real estate market as a whole, such as taxation, regulations and economic and political factors that negatively impact the real estate market. These may include decreases in real estate values, overbuilding, increases in operating costs, interest rates and property taxes.</p>
<p style="margin: 0px"> </p>
<p style="margin: 0px"><b>•Sector Risk.</b> The Fund may be subject to the risk that its assets are invested in a particular sector or group of sectors in the economy and as a result, the value of the Fund may be adversely impacted by events or developments in a sector or group of sectors.</p>
<p style="margin: 0px"> </p>
<p style="margin: 0px"><b>•Small and Mid-Capitalization Stock Risk.</b> The earnings and prospects of smaller-sized companies are more volatile than larger companies and may experience higher failure rates than larger companies. Smaller-sized companies normally have a lower trading volume than larger companies, which may tend to make their market price fall more disproportionately than larger companies in response to selling pressures and may have limited markets, product lines, or financial resources and lack management experience.</p>
<p style="margin: 0px"> </p>
<p style="margin: 0px"><b>•Stock Market Risk.</b> Overall stock market risks may affect the value of the Fund. Factors such as domestic economic growth and market conditions, interest rate levels and political events affect the securities markets.</p>
<p style="margin: 0px"> </p>
<p style="margin: 0px"><b>•Tax Risk.</b> The Fund may not be able to meet the conditions to qualify as a “Regulated Investment Company” or “RIC” and be eligible for the favorable tax provisions under the Internal Revenue Code that apply to RICs. If the Fund does not qualify as a RIC, it will be subject to Fund-level taxation, which will reduce the Fund's net asset value by taxes paid on net income and net capital gains. In the alternative, the Fund may be required to pay a tax penalty that could be significant to maintain its RIC status.</p>
<p style="margin: 0px"> </p>
<p style="margin: 0px"><b>•Tracking Risks.</b> ETFs in which the Fund invests may not be able to replicate exactly the performance of the indices or sectors they track because transaction costs incurred by the ETF in adjusting the actual balance of the securities.</p>
<p style="margin: 0px"> </p>
<p style="margin: 0px"><b>•Turnover Risk:</b> The Fund may have portfolio turnover rates significantly in excess of 100%. Increased portfolio turnover causes the Fund to incur higher brokerage costs, which may adversely affect the Fund's performance and may produce increased taxable distributions.</p>
<p style="margin: 0px"> </p>
<p style="margin: 0px"><b>•Underlying Funds Risk.</b> Underlying Funds are subject to investment advisory and other expenses, which will be indirectly paid by the Fund. </p>
<p style="margin: 0px"> </p>
<p style="margin: 0px"><b>•Wholly-Owned Subsidiary Risk.</b> The Subsidiary will not be registered under the Investment Company Act of 1940 (“1940 Act”) and, unless otherwise noted in this Prospectus, will not be subject to all of the investor protections of the 1940 Act. Changes in the laws of the United States and/or the Cayman Islands, under which the Fund and the Subsidiary, respectively, are organized, could result in the inability of the Fund and/or Subsidiary to operate as described in this Prospectus and could negatively affect the Fund and its shareholders. Your cost of investing in the Fund will be higher because you indirectly bear the expenses of the Subsidiary.</p>
<p style="margin: 0px">As with any mutual fund, there is no guarantee that the Fund will achieve its goal. The Fund’s returns will vary and you could lose money on your investment in the Fund.</p>
<p style="margin: 0px"> </p>
<p style="margin: 0px"><b>• Commodity Risk.</b> Commodity-related risks include production risks caused by unfavorable weather, animal and plant disease, geologic and environmental factors. Commodity-related risks also include unfavorable changes in government regulation such as tariffs, embargoes or burdensome production rules and restrictions. The Fund is also subject to commodity concentration risk because it normally invests over 25% of its assets in the commodities industries.</p>
<p style="margin: 0px"> </p>
<p style="margin: 0px"><b>• Currency Risk.</b> The Fund's net asset value could decline as a result of changes in the exchange rates between foreign currencies and the U.S. dollar. Additionally, certain foreign countries may impose restrictions on the ability of issuers of foreign securities to make payment of principal and interest to investors located outside the country, due to blockage of foreign currency exchanges or otherwise.</p>
<p style="margin: 0px"> </p>
<p style="margin: 0px"><b>• Fixed Income Risk.</b> The value of the Fund's direct or indirect investments in fixed income securities will fluctuate with changes in interest rates. Typically, a rise in interest rates causes a decline in the value of fixed income securities owned by the Fund. On the other hand, if rates fall, the value of the fixed income securities generally increases. The value of fixed income securities typically falls when an issuer's credit quality declines and may even become worthless if an issuer defaults.</p>
<p style="margin: 0px"> </p>
<p style="margin: 0px"><b>• Foreign Exposure Risk.</b> Special risks associated with investments in foreign markets may include less liquidity, greater volatility, less developed or less efficient trading markets, lack of comprehensive company information, political instability and differing auditing and legal standards.</p>
<p style="margin: 0px"> </p>
<p style="margin: 0px"><b>• Futures Risk.</b> The Fund's use of futures contracts exposes the Fund to leverage and tracking risks because a small investment in futures contracts may produce large losses and futures contracts may not be perfect substitutes for securities.</p>
<p style="margin: 0px"> </p>
<p style="margin: 0px"><b>• Liquidity Risks.</b> Liquidity risk exists when particular investments of the Fund would be difficult to purchase or sell, possibly preventing the Fund from selling such illiquid securities at an advantageous time or price, or possibly requiring the Fund to dispose of other investments at unfavorable times or prices in order to satisfy its obligations.</p>
<p style="margin: 0px"> </p>
<p style="margin: 0px"><b>• Management Risk.</b> The Advisor's asset selection methodology may produce incorrect judgments about the value a particular asset and may not produce the desired results.</p>
<p style="margin: 0px"> </p>
<p style="margin: 0px"><b>• Preferred Stock Risk.</b> The value of preferred stocks will fluctuate with changes in interest rates. Typically, a rise in interest rates causes a decline in the value of preferred stock. Preferred stocks are also subject to credit risk, which is the possibility that an issuer of preferred stock will fail to make its dividend payments.</p>
<p style="margin: 0px"> </p>
<p style="margin: 0px"><b>• Real Estate Risk.</b> The value of real estate investments are subject to the risks of the real estate market as a whole, such as taxation, regulations and economic and political factors that negatively impact the real estate market. These may include decreases in real estate values, overbuilding, increases in operating costs, interest rates and property taxes.</p>
<p style="margin: 0px"> </p>
<p style="margin: 0px"><b>• Sector Risk.</b> The Fund may be subject to the risk that its assets are invested in a particular sector or group of sectors in the economy and as a result, the value of the Fund may be adversely impacted by events or developments in a sector or group of sectors.</p>
<p style="margin: 0px"> </p>
<p style="margin: 0px"><b>• Small and Mid-Capitalization Stock Risk.</b> The earnings and prospects of smaller-sized companies are more volatile than larger companies and may experience higher failure rates than larger companies. Smaller-sized companies normally have a lower trading volume than larger companies, which may tend to make their market price fall more disproportionately than larger companies in response to selling pressures and may have limited markets, product lines, or financial resources and lack management experience.</p>
<p style="margin: 0px"> </p>
<p style="margin: 0px"><b>• Stock Market Risk.</b> Overall stock market risks may affect the value of the Fund. Factors such as domestic economic growth and market conditions, interest rate levels and political events affect the securities markets.</p>
<p style="margin: 0px"> </p>
<p style="margin: 0px"><b>• Tax Risk.</b> The Fund may not be able to meet the conditions to qualify as a "Regulated Investment Company" or "RIC" and be eligible for the favorable tax provisions under the Internal Revenue Code that apply to RICs. If the Fund does not qualify as a RIC, it will be subject to Fund-level taxation, which will reduce the Fund's net asset value by taxes paid on net income and net capital gains. In the alternative, the Fund may be required to pay a tax penalty that could be significant to maintain its RIC status.</p>
<p style="margin: 0px"> </p>
<p style="margin: 0px"><b>• Tracking Risks.</b> ETFs in which the Fund invests may not be able to replicate exactly the performance of the indices or sectors they track because transaction costs incurred by the ETF in adjusting the actual balance of the securities.</p>
<p style="margin: 0px"> </p>
<p style="margin: 0px"><b>• Turnover Risk:</b> The Fund may have portfolio turnover rates significantly in excess of 100%. Increased portfolio turnover causes the Fund to incur higher brokerage costs, which may adversely affect the Fund's performance and may produce increased taxable distributions.</p>
<p style="margin: 0px"> </p>
<p style="margin: 0px"><b>• Underlying Funds Risk.</b> Underlying Funds are subject to investment advisory and other expenses, which will be indirectly paid by the Fund.</p>
<p style="margin: 0px"> </p>
<p style="margin: 0px"><b>• Wholly-Owned Subsidiary Risk.</b> The Subsidiary will not be registered under the Investment Company Act of 1940 ("1940 Act") and, unless otherwise noted in this Prospectus, will not be subject to all of the investor protections of the 1940 Act. Changes in the laws of the United States and/or the Cayman Islands, under which the Fund and the Subsidiary, respectively, are organized, could result in the inability of the Fund and/or Subsidiary to operate as described in this Prospectus and could negatively affect the Fund and its shareholders. Your cost of investing in the Fund will be higher because you indirectly bear the expenses of the Subsidiary.</p>
<p style="margin: 0px">As with any mutual fund, there is no guarantee that the Fund will achieve its goal. The Fund’s returns will vary and you could lose money on your investment in the Fund.</p>
<p style="margin: 0px"> </p>
<p style="margin: 0px"><b>• Commodity Risk.</b> Commodity-related risks include production risks caused by unfavorable weather, animal and plant disease, geologic and environmental factors. Commodity-related risks also include unfavorable changes in government regulation such as tariffs, embargoes or burdensome production rules and restrictions. The Fund is also subject to commodity concentration risk because it normally invests over 25% of its assets in the commodities industries.</p>
<p style="margin: 0px"> </p>
<p style="margin: 0px"> <b>•Currency Risk.</b> The Fund’s net asset value could decline as a result of changes in the exchange rates between foreign currencies and the U.S. dollar. Additionally, certain foreign countries may impose restrictions on the ability of issuers of foreign securities to make payment of principal and interest to investors located outside the country, due to blockage of foreign currency exchanges or otherwise.</p>
<p style="margin: 0px"> </p>
<p style="margin: 0px"><b>• Fixed Income Risk.</b> The value of the Fund's direct or indirect investments in fixed income securities will fluctuate with changes in interest rates. Typically, a rise in interest rates causes a decline in the value of fixed income securities owned by the Fund. On the other hand, if rates fall, the value of the fixed income securities generally increases. The value of fixed income securities typically falls when an issuer's credit quality declines and may even become worthless if an issuer defaults.</p>
<p style="margin: 0px"> </p>
<p style="margin: 0px"><b>• Foreign Exposure Risk.</b> Special risks associated with investments in foreign markets may include less liquidity, greater volatility, less developed or less efficient trading markets, lack of comprehensive company information, political instability and differing auditing and legal standards.</p>
<p style="margin: 0px"> </p>
<p style="margin: 0px"><b>• Futures Risk.</b> The Fund's use of futures contracts exposes the Fund to leverage and tracking risks because a small investment in futures contracts may produce large losses and futures contracts may not be perfect substitutes for securities.</p>
<p style="margin: 0px"> </p>
<p style="margin: 0px"><b>• Liquidity Risks.</b> Liquidity risk exists when particular investments of the Fund would be difficult to purchase or sell, possibly preventing the Fund from selling such illiquid securities at an advantageous time or price, or possibly requiring the Fund to dispose of other investments at unfavorable times or prices in order to satisfy its obligations.</p>
<p style="margin: 0px"> </p>
<p style="margin: 0px"><b>• Management Risk.</b> The Advisor's asset selection methodology may produce incorrect judgments about the value a particular asset and may not produce the desired results.</p>
<p style="margin: 0px"> </p>
<p style="margin: 0px"><b>• Preferred Stock Risk.</b> The value of preferred stocks will fluctuate with changes in interest rates. Typically, a rise in interest rates causes a decline in the value of preferred stock. Preferred stocks are also subject to credit risk, which is the possibility that an issuer of preferred stock will fail to make its dividend payments.</p>
<p style="margin: 0px"> </p>
<p style="margin: 0px"><b>• Real Estate Risk.</b> The value of real estate investments are subject to the risks of the real estate market as a whole, such as taxation, regulations and economic and political factors that negatively impact the real estate market. These may include decreases in real estate values, overbuilding, increases in operating costs, interest rates and property taxes.</p>
<p style="margin: 0px"> </p>
<p style="margin: 0px"><b>• Sector Risk.</b> The Fund may be subject to the risk that its assets are invested in a particular sector or group of sectors in the economy and as a result, the value of the Fund may be adversely impacted by events or developments in a sector or group of sectors.</p>
<p style="margin: 0px"> </p>
<p style="margin: 0px"><b>• Small and Mid-Capitalization Stock Risk.</b> The earnings and prospects of smaller-sized companies are more volatile than larger companies and may experience higher failure rates than larger companies. Smaller-sized companies normally have a lower trading volume than larger companies, which may tend to make their market price fall more disproportionately than larger companies in response to selling pressures and may have limited markets, product lines, or financial resources and lack management experience.</p>
<p style="margin: 0px"> </p>
<p style="margin: 0px"><b>• Stock Market Risk.</b> Overall stock market risks may affect the value of the Fund. Factors such as domestic economic growth and market conditions, interest rate levels and political events affect the securities markets.</p>
<p style="margin: 0px"> </p>
<p style="margin: 0px"><b>• Underlying Funds Risk.</b> Underlying Funds are subject to investment advisory and other expenses, which will be indirectly paid by the Fund. </p>
<p style="margin: 0px"> </p>
<p style="margin: 0px"><b>• Tracking Risks.</b> ETFs in which the Fund invests may not be able to replicate exactly the performance of the indices or sectors they track because transaction costs incurred by the ETF in adjusting the actual balance of the securities.</p>
<p style="margin: 0px"> </p>
<p style="margin: 0px"><b>• Tax Risk.</b> The Fund may not be able to meet the conditions to qualify as a "Regulated Investment Company" or "RIC" and be eligible for the favorable tax provisions under the Internal Revenue Code that apply to RICs. If the Fund does not qualify as a RIC, it will be subject to Fund-level taxation, which will reduce the Fund's net asset value by taxes paid on net income and net capital gains. In the alternative, the Fund may be required to pay a tax penalty that could be significant to maintain its RIC status.</p>
<p style="margin: 0px"> </p>
<p style="margin: 0px"><b>• Wholly-Owned Subsidiary Risk.</b> The Subsidiary will not be registered under the Investment Company Act of 1940 ("1940 Act") and, unless otherwise noted in this Prospectus, will not be subject to all of the investor protections of the 1940 Act. Changes in the laws of the United States and/or the Cayman Islands, under which the Fund and the Subsidiary, respectively, are organized, could result in the inability of the Fund and/or Subsidiary to operate as described in this Prospectus and could negatively affect the Fund and its shareholders. Your cost of investing in the Fund will be higher because you indirectly bear the expenses of the Subsidiary.</p>
<p style="margin: 0px"> </p>
<p style="margin: 0px"><b>• Turnover Risk:</b> The Fund may have portfolio turnover rates significantly in excess of 100%. Increased portfolio turnover causes the Fund to incur higher brokerage costs, which may adversely affect the Fund's performance and may produce increased taxable distributions.</p>
<p style="margin: 0px"><b>Performance:</b></p>
<p style="margin: 0px"><b>Performance:</b></p>
<p style="margin: 0px"><b>Performance:</b></p>
<p style="margin: 0px">The bar chart and accompanying table shown below provide an indication of the risks of investing in the Fund by showing the total return of its Class A shares for each full calendar year, and by showing how its average annual returns compare over time with those of a broad measure of market performance and a supplemental index. The Fund was reorganized on March 29, 2013 from a series of Mutual Fund Series Trust, an Ohio statutory trust, (the “Predecessor Fund”) to a series of Compass EMP Funds Trust, a Delaware statutory trust (the “Reorganization”). The Fund is a continuation of the Predecessor Fund and, therefore, the performance information includes performance of the Predecessor Fund. How the Fund has performed in the past (before and after taxes) is not necessarily an indication of how it will perform in the future. Although Class C and Class T shares would have similar annual returns to Class A shares because the classes are invested in the same portfolio of securities, the returns for Class C and Class T shares would be different from Class A shares because Class C and Class T shares have different expenses than Class A shares. Updated performance information is available by calling 1-888-944-4367.</p>
<p style="margin: 0px">The bar chart and accompanying table shown below provide an indication of the risks of investing in the Fund by showing the total return of its Class A shares for each full calendar year, and by showing how its average annual returns compare over time with those of a broad measure of market performance and a supplemental index. The Fund was reorganized on March 29, 2013 from a series of Mutual Fund Series Trust, an Ohio statutory trust, (the “Predecessor Fund”) to a series of Compass EMP Funds Trust, a Delaware statutory trust (the “Reorganization”). The Fund is a continuation of the Predecessor Fund and, therefore, the performance information includes performance of the Predecessor Fund. How the Fund has performed in the past (before and after taxes) is not necessarily an indication of how it will perform in the future. Although Class C and Class T shares would have similar annual returns to Class A shares because the classes are invested in the same portfolio of securities, the returns for Class C and Class T shares would be different from Class A shares because Class C and Class T shares have different expenses than Class A shares. Updated performance information is available by calling 1-888-944-4367.</p>
<p style="margin: 0px">The bar chart and accompanying table shown below provide an indication of the risks of investing in the Fund by showing the total return of its Class A shares for each full calendar year, and by showing how its average annual returns compare over time with those of a broad measure of market performance and a supplemental index. The Fund was reorganized on March 29, 2013 from a series of Mutual Fund Series Trust, an Ohio statutory trust, (the “Predecessor Fund”) to a series of Compass EMP Funds Trust, a Delaware statutory trust (the “Reorganization”). The Fund is a continuation of the Predecessor Fund and, therefore, the performance information includes performance of the Predecessor Fund. How the Fund has performed in the past (before and after taxes) is not necessarily an indication of how it will perform in the future. Although Class C and Class T shares would have similar annual returns to Class A shares because the classes are invested in the same portfolio of securities, the returns for Class C and Class T shares would be different from Class A shares because Class C and Class T shares have different expenses than Class A shares. Updated performance information is available by calling 1-888-944-4367.</p>
<p style="margin: 0px">with capital appreciation as a secondary objective.</p>
<p style="margin: 0px">with current income as a secondary objective..</p>
0.0575
0.0000
0.0350
0.0575
0.0000
0.0350
0.0575
0.0000
0.0350
-0.0100
-0.0100
-0.0100
-0.0100
-0.0100
-0.0100
-0.0100
-0.0100
-0.0100
-15.00
-15.00
-15.00
-15.00
-15.00
-15.00
-15.00
-15.00
-15.00
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0.0050
0.0050
0.0050
0.0080
0.0080
0.0080
0.0080
0.0080
0.0080
0.0025
0.0100
0.0050
0.0025
0.0100
0.0050
0.0025
0.0100
0.0050
0.0046
0.0046
0.0046
0.0132
0.0207
0.0157
0.0170
0.0245
0.0195
0.0153
0.0228
0.0178
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702
210
504
732
242
535
722
231
525
969
649
828
1074
758
935
1031
712
891
1257
1114
1175
1440
1300
1360
1361
1220
1281
2074
2400
2152
2463
2782
2541
2294
2615
2371
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0.2343
0.2496
0.0763
0.1034
0.0978
-0.0091
-0.0692
-0.0472
0.0196
-0.0059
-0.0641
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<p style="margin: 0px"><b>Calendar Year Returns as of December 31</b></p>
<p style="margin: 0px"><b>Calendar Year Returns as of December 31</b></p>
<p style="margin: 0px"><b>Calendar Year Returns as of December 31</b></p>
<table cellpadding="0" cellspacing="0" align="left" style="margin-top: 0px; width: 426px"><tr><td style="margin-top: 0px; padding: 0px 9.6px; border: #000000 1px solid; vertical-align: top; width: 133px">
<p style="margin-top: 6.66px; margin-bottom: 6.66px">Best Quarter:</p>
</td>
<td style="margin-top: 0px; padding: 0px 9.6px; border-top: #000000 1px solid; border-right: #000000 1px solid; border-bottom: #000000 1px solid; vertical-align: top; width: 153px">
<p style="margin-top: 6.66px; margin-bottom: 6.66px">6/30/09</p>
</td>
<td style="margin-top: 0px; padding: 0px 9.6px; border-top: #000000 1px solid; border-right: #000000 1px solid; border-bottom: #000000 1px solid; vertical-align: top; width: 82px">
<p style="margin-top: 6.66px; margin-bottom: 6.66px">12.71%</p>
</td></tr>
<tr><td style="margin-top: 0px; padding: 0px 9.6px; border-left: #000000 1px solid; border-right: #000000 1px solid; border-bottom: #000000 1px solid; vertical-align: top; width: 133px">
<p style="margin-top: 6.66px; margin-bottom: 6.66px">Worst Quarter:</p>
</td>
<td style="margin-top: 0px; padding: 0px 9.6px; border-right: #000000 1px solid; border-bottom: #000000 1px solid; vertical-align: top; width: 153px">
<p style="margin-top: 6.66px; margin-bottom: 6.66px; text-align: justify">6/30/10</p>
</td>
<td style="margin-top: 0px; padding: 0px 9.6px; border-right: #000000 1px solid; border-bottom: #000000 1px solid; vertical-align: top; width: 82px">
<p style="margin-top: 6.66px; margin-bottom: 6.66px">(3.26)%</p>
</td></tr>
</table>
<table cellpadding="0" cellspacing="0" align="left" style="margin-top: 0px; width: 426px"><tr><td style="margin-top: 0px; padding: 0px 9.6px; border: #000000 1px solid; vertical-align: top; width: 133px">
<p style="margin-top: 6.66px; margin-bottom: 6.66px">Best Quarter:</p>
</td>
<td style="margin-top: 0px; padding: 0px 9.6px; border-top: #000000 1px solid; border-right: #000000 1px solid; border-bottom: #000000 1px solid; vertical-align: top; width: 153px">
<p style="margin-top: 6.66px; margin-bottom: 6.66px">6/30/09</p>
</td>
<td style="margin-top: 0px; padding: 0px 9.6px; border-top: #000000 1px solid; border-right: #000000 1px solid; border-bottom: #000000 1px solid; vertical-align: top; width: 82px">
<p style="margin-top: 6.66px; margin-bottom: 6.66px">18.04%</p>
</td></tr>
<tr><td style="margin-top: 0px; padding: 0px 9.6px; border-left: #000000 1px solid; border-right: #000000 1px solid; border-bottom: #000000 1px solid; vertical-align: top; width: 133px">
<p style="margin-top: 6.66px; margin-bottom: 6.66px">Worst Quarter:</p>
</td>
<td style="margin-top: 0px; padding: 0px 9.6px; border-right: #000000 1px solid; border-bottom: #000000 1px solid; vertical-align: top; width: 153px">
<p style="margin-top: 6.66px; margin-bottom: 6.66px; text-align: justify">3/31/09</p>
</td>
<td style="margin-top: 0px; padding: 0px 9.6px; border-right: #000000 1px solid; border-bottom: #000000 1px solid; vertical-align: top; width: 82px">
<p style="margin-top: 6.66px; margin-bottom: 6.66px">(10.21)%</p>
</td></tr>
</table>
<table cellpadding="0" cellspacing="0" align="left" style="margin-top: 0px; width: 426px"><tr><td style="margin-top: 0px; padding: 0px 9.6px; border: #000000 1px solid; vertical-align: top; width: 133px">
<p style="margin-top: 6.66px; margin-bottom: 6.66px">Best Quarter:</p>
</td>
<td style="margin-top: 0px; padding: 0px 9.6px; border-top: #000000 1px solid; border-right: #000000 1px solid; border-bottom: #000000 1px solid; vertical-align: top; width: 153px">
<p style="margin-top: 6.66px; margin-bottom: 6.66px">9/30/10</p>
</td>
<td style="margin-top: 0px; padding: 0px 9.6px; border-top: #000000 1px solid; border-right: #000000 1px solid; border-bottom: #000000 1px solid; vertical-align: top; width: 82px">
<p style="margin-top: 6.66px; margin-bottom: 6.66px">8.77%</p>
</td></tr>
<tr><td style="margin-top: 0px; padding: 0px 9.6px; border-left: #000000 1px solid; border-right: #000000 1px solid; border-bottom: #000000 1px solid; vertical-align: top; width: 133px">
<p style="margin-top: 6.66px; margin-bottom: 6.66px">Worst Quarter:</p>
</td>
<td style="margin-top: 0px; padding: 0px 9.6px; border-right: #000000 1px solid; border-bottom: #000000 1px solid; vertical-align: top; width: 153px">
<p style="margin-top: 6.66px; margin-bottom: 6.66px; text-align: justify">6/30/10</p>
</td>
<td style="margin-top: 0px; padding: 0px 9.6px; border-right: #000000 1px solid; border-bottom: #000000 1px solid; vertical-align: top; width: 82px">
<p style="margin-top: 6.66px; margin-bottom: 6.66px">(6.34)%</p>
</td></tr>
</table>
<p style="margin: 0pt">Performance Table</p>
<p style="margin: 0pt">Average Annual Total Returns</p>
<p style="margin: 0pt">(for the periods ended December 31, 2012)</p>
<p style="margin: 0pt">Performance Table</p>
<p style="margin: 0pt">Average Annual Total Returns</p>
<p style="margin: 0pt">(for the periods ended December 31, 2012)</p>
<p style="margin: 0pt">Performance Table</p>
<p style="margin: 0pt">Average Annual Total Returns</p>
<p style="margin: 0pt">(for the periods ended December 31, 2012)</p>
<p style="margin: 0pt"> After-tax returns are calculated using the highest historical individual federal marginal income tax rate and do not reflect the impact of state and local taxes. Actual after-tax returns depend on a shareholder’s tax situation and may differ from those shown. After-tax returns are not relevant for shareholders who hold Fund shares in tax-deferred accounts or to shares held by non-taxable entities. After-tax returns are only shown for Class A shares. After-tax returns for Class C and Class T shares will vary.</p>
<p style="margin: 0pt"> </p>
<p style="margin: 0pt">The Barclay Hedge Fund of Funds Index is a measure of the average return of all hedge fund of funds in the Barclay database, which as of December 31, 2012 included more than 1,250 hedge funds. The Barclay Hedge Fund of Funds Index shows how the Fund’s performance compares with the returns of funds investing in a broad range of asset classes.</p>
<p style="margin: 0pt">After-tax returns are calculated using the highest historical individual federal marginal income tax rate and do not reflect the impact of state and local taxes. Actual after-tax returns depend on a shareholder’s tax situation and may differ from those shown. After-tax returns are not relevant for shareholders who hold Fund shares in tax-deferred accounts or to shares held by non-taxable entities. After-tax returns are only shown for Class A shares. After-tax returns for Class C and Class T shares will vary.</p>
<p style="margin: 0pt"> </p>
<p style="margin: 0pt">The Barclay Hedge Fund Index is a measure of the average return of all hedge funds (excepting Funds of Funds) in the Barclay database, which as of December 31, 2012 included more than 2,500 hedge funds. The Barclay Hedge Fund of Funds Index is a measure of the average return of all hedge fund of funds in the Barclay database, which as of December 31, 2012 included more than 1,250 hedge funds. The Barclay Hedge Fund Index and Barclay Hedge Fund of Funds Index show how the Fund’s performance compares with the returns of funds investing in a broad range of asset classes.</p>
<p style="margin: 0pt">After-tax returns are calculated using the highest historical individual federal marginal income tax rate and do not reflect the impact of state and local taxes. Actual after-tax returns depend on a shareholder’s tax situation and may differ from those shown. After-tax returns are not relevant for shareholders who hold Fund shares in tax-deferred accounts or to shares held by non-taxable entities. After-tax returns are only shown for Class A shares. After-tax returns for Class C and Class T shares will vary.</p>
<p style="margin: 0pt"> </p>
<p style="margin: 0pt">The Barclay Hedge Fund Index is a measure of the average return of all hedge funds (excepting Funds of Funds) in the Barclay database, which as of December 31, 2012 included more than 2,500 hedge funds. The Barclay Hedge Fund of Funds Index is a measure of the average return of all hedge fund of funds in the Barclay database, which as of December 31, 2012 included more than 1,250 hedge funds. The Barclay Hedge Fund Index and Barclay Hedge Fund of Funds Index show how the Fund’s performance compares with the returns of funds investing in a broad range of asset classes.</p>
Return before taxes
Return before taxes
Return before taxes
Return before taxes
Return before taxes
Return before taxes
Return before taxes
Return before taxes
Return before taxes
-0.0388
-0.0474
-0.0246
0.0122
-0.0177
0.1600
0.0472
-0.0632
-0.0632
-0.0411
-0.0145
-0.0440
0.1600
0.0825
0.0472
-0.1180
-0.1180
-0.0767
-0.0716
-0.0979
0.1600
0.0825
0.0472
0.1458
0.0323
0.1458
0.0430
0.0323
-0.0281
-0.0292
-0.0244
-0.0165
-0.0228
0.1049
0.0430
0.0323
2008-12-31
2008-12-31
2009-12-30
2008-12-31
2008-12-31
2009-12-30
2009-12-30
2009-12-30
2009-12-30
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<p style="margin: 0px">Acquired Fund Fees and Expenses are the indirect costs of investing in other investment companies. The operating expenses in this fee table will not correlate to the expense ratio in the Fund’s financial highlights because the financial statements include only the direct operating expenses incurred by the Fund, not the indirect costs of investing in other investment companies.</p>
<p style="margin: 0px">Acquired Fund Fees and Expenses are the indirect costs of investing in other investment companies. The operating expenses in this fee table will not correlate to the expense ratio in the Fund’s financial highlights because the financial statements include only the direct operating expenses incurred by the Fund, not the indirect costs of investing in other investment companies.</p>
<p style="margin: 0px">Acquired Fund Fees and Expenses are the indirect costs of investing in other investment companies. The operating expenses in this fee table will not correlate to the expense ratio in the Fund’s financial highlights because the financial statements include only the direct operating expenses incurred by the Fund, not the indirect costs of investing in other investment companies.</p>
You may qualify for sales charge discounts on purchases of Class A shares if you and your family invest, or agree to invest in the future, at least $50,000 in the Compass EMP Funds.
You may qualify for sales charge discounts on purchases of Class A shares if you and your family invest, or agree to invest in the future, at least $50,000 in the Compass EMP Funds.
You may qualify for sales charge discounts on purchases of Class A shares if you and your family invest, or agree to invest in the future, at least $50,000 in the Compass EMP Funds.
50000
50000
50000
<p style="margin: 0px">Under normal market conditions, the Balanced Fund invests at least 25% of its net assets in equity securities and at least 25% of its assets in fixed income securities.</p>
0.5800
1.08
1.37
As with any mutual fund, there is no guarantee that the Fund will achieve its goal.
As with any mutual fund, there is no guarantee that the Fund will achieve its goal.
As with any mutual fund, there is no guarantee that the Fund will achieve its goal.
Reflects no deduction for fees, expenses or taxes
Reflects no deduction for fees, expenses or taxes
Reflects no deduction for fees, expenses or taxes
Best Quarter:
Best Quarter:
Best Quarter:
2009-06-30
2009-06-30
2010-09-30
0.1271
0.1804
0.0877
Worst Quarter:
Worst Quarter:
Worst Quarter:
2010-06-30
2009-03-31
2010-06-30
-0.0326
-0.1021
-0.0634
How the Fund has performed in the past (before and after taxes) is not necessarily an indication of how it will perform in the future.
How the Fund has performed in the past (before and after taxes) is not necessarily an indication of how it will perform in the future.
How the Fund has performed in the past (before and after taxes) is not necessarily an indication of how it will perform in the future.
1-888-944-4367
1-888-944-4367
1-888-944-4367
After-tax returns are calculated using the highest historical individual federal marginal income tax rate and do not reflect the impact of state and local taxes.
After-tax returns are calculated using the highest historical individual federal marginal income tax rate and do not reflect the impact of state and local taxes.
After-tax returns are calculated using the highest historical individual federal marginal income tax rate and do not reflect the impact of state and local taxes.
After-tax returns are not relevant for shareholders who hold Fund shares in tax-deferred accounts or to shares held by non-taxable entities.
After-tax returns are not relevant for shareholders who hold Fund shares in tax-deferred accounts or to shares held by non-taxable entities.
After-tax returns are not relevant for shareholders who hold Fund shares in tax-deferred accounts or to shares held by non-taxable entities.
0.0164
0.0239
0.0189
<p style="margin: 0px">The bar chart and accompanying table shown below provide an indication of the risks of investing in the Fund by showing the total return of its Class A shares for each full calendar year, and by showing how its average annual returns compare over time with those of a broad measure of market performance and a supplemental index.</p>
<p style="margin: 0px">The bar chart and accompanying table shown below provide an indication of the risks of investing in the Fund by showing the total return of its Class A shares for each full calendar year, and by showing how its average annual returns compare over time with those of a broad measure of market performance and a supplemental index.</p>
<p style="margin: 0px">The bar chart and accompanying table shown below provide an indication of the risks of investing in the Fund by showing the total return of its Class A shares for each full calendar year, and by showing how its average annual returns compare over time with those of a broad measure of market performance and a supplemental index.</p>
After-tax returns are only shown for Class A shares. After-tax returns for Class C and Class T shares will vary.
After-tax returns are only shown for Class A shares. After-tax returns for Class C and Class T shares will vary.
After-tax returns are only shown for Class A shares. After-tax returns for Class C and Class T shares will vary.
2014-04-30
Includes 0.02% expense recapture.
Acquired Fund Fees and Expenses are the indirect costs of investing in other investment companies. The operating expenses in this fee table will not correlate to the expense ratio in the Funds financial highlights because the financial statements include only the direct operating expenses incurred by the Fund, not the indirect costs of investing in other investment companies.
The inception date of the Funds Class A and Class C shares is December 31, 2008. The inception date of the Fund's Class T shares is December 30, 2009.
Compass Efficient Model Portfolios, LLC (the Advisor) has contractually agreed to waive fees and/or reimburse expenses, but only to the extent necessary to maintain the Funds total annual operating expenses (excluding brokerage costs; borrowing costs, such as (a) interest and (b) dividends on securities sold short; taxes; costs of investing in underlying funds; 12b-1 fees and extraordinary expenses) at 1.20% for the Growth Fund through April 30, 2014. This agreement may only be terminated by the Funds Board of Trustees on 60 days written notice to the Advisor.
Includes 0.04% expense recapture.