497

Compass EMP Funds Trust

Compass EMP Commodity Strategies Enhanced Volatility Weighted Fund

Incorporated herein by reference is the definitive version of the supplement for Compass EMP Commodity Strategies Enhanced Volatility Weighted Fund filed pursuant to Rule 497 (c) under the Securities Act of 1933, as amended, on March 31, 2014 (SEC Accession No.0000910472-14-001416).

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Label

Element

Value

Prospectus [Line Items]

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Document Type

dei_DocumentType

Other

Document Period End Date

dei_DocumentPeriodEndDate

Mar. 31, 2014

Registrant Name

dei_EntityRegistrantName

Compass EMP Funds Trust

Central Index Key

dei_EntityCentralIndexKey

0001547580

Amendment Flag

dei_AmendmentFlag

false

Trading Symbol

dei_TradingSymbol

cef

Document Creation Date

dei_DocumentCreationDate

Mar. 31, 2014

Document Effective Date

dei_DocumentEffectiveDate

Mar. 31, 2014

Prospectus Date

rr_ProspectusDate

Mar. 10, 2014

Compass EMP Commodity Strategies Enhanced Volatility Weighted Fund

Prospectus [Line Items]

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Risk/Return [Heading]

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FUND SUMMARY - COMPASS EMP COMMODITY STRATEGIES ENHANCED VOLATILITY WEIGHTED FUND (formerly known as the Compass EMP Commodity Long/Short Strategies Fund)

Objective [Heading]

rr_ObjectiveHeading

Investment Objective:

Objective, Primary [Text Block]

rr_ObjectivePrimaryTextBlock

The Fund seeks capital appreciation.

Expense [Heading]

rr_ExpenseHeading

Fees and Expenses of the Fund:

Expense Narrative [Text Block]

rr_ExpenseNarrativeTextBlock

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 or Class T 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 are available from your financial professional, in How to Purchase Shares on page 10 of the Fund’s Prospectus and in Purchase and Redemption of Shares on page 52 of the Fund’s Statement of Additional Information.

Shareholder Fees Caption [Text]

rr_ShareholderFeesCaption

Shareholder Fees

(fees paid directly from your investment)

Operating Expenses Caption [Text]

rr_OperatingExpensesCaption

Annual Fund Operating Expenses

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

Fee Waiver or Reimbursement over Assets, Date of Termination

rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination

2015-03-31

Portfolio Turnover [Heading]

rr_PortfolioTurnoverHeading

Portfolio Turnover:

Portfolio Turnover [Text Block]

rr_PortfolioTurnoverTextBlock

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. For the fiscal period from November 19, 2012 to June 30, 2013, the Fund’s portfolio turnover rate was 0.07% of the average value of its portfolio.

Portfolio Turnover, Rate

rr_PortfolioTurnoverRate

0.07%

Expense Example [Heading]

rr_ExpenseExampleHeading

Example:

Expense Example Narrative [Text Block]

rr_ExpenseExampleNarrativeTextBlock

This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

Expense Example by, Year, Caption [Text]

rr_ExpenseExampleByYearCaption

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:

Strategy [Heading]

rr_StrategyHeading

Principal Investment Strategies

Strategy Narrative [Text Block]

rr_StrategyNarrativeTextBlock

The Fund seeks to achieve its investment objective by investing up to 25% of the Fund’s net assets (measured at the time of investment) in a wholly-owned and controlled subsidiary organized under the laws of the Cayman Islands (the “Subsidiary”) that will invest primarily in (long only) futures contracts related to the twenty most liquid commodities (such as oil, corn, or gold) by trading volume. The Fund seeks to track the returns of the CEMP Commodity Long/Cash Volatility Weighted Index (the “CEMP Long/Cash Index”) before expenses. The Fund employs a replication strategy that entails holding all, or approximately all, the futures in the CEMP Long/Cash Index. The Fund may gain exposure to a commodity that is scheduled to be included in the Long/Short Index prior to the effective inclusion date.

The Fund will invest the balance of its assets primarily in fixed income securities, including domestic and foreign treasury bills and notes, commercial paper and corporate debt and other investments intended to serve as margin or collateral for the Subsidiary’s derivative positions. The Fund expects the dollar-weighted average fixed income maturity to be 36 months or less and the credit quality of such securities to be primarily investment grade (defined as having a rating of BBB- and above). However, up to 20% of the fixed income portfolio may be composed of lower-quality corporate notes and bonds rated B- or higher, which are commonly referred to as “junk bonds.”

The CEMP Long/Cash Index generally consists of long-only futures contracts related to the twenty most liquid commodities by trading volume but seeks to limit risk during unfavorable market conditions by reducing its exposure to the market by allocating to cash. Market conditions are measured by reference to the CEMP Commodity Volatility Weighted Index (the “Commodity Index”), which is composed of the same commodity futures as in the CEMP Long/Cash Index, but without any allocation to cash. In other words, the Commodity Index is always 100% invested in commodity futures.

During a period of market decline, defined as a 10% drop from the all-time daily high and based on the month end value of the Commodity Index, exposure to the market may be as low as 25% depending on the magnitude and duration of such decline. The CEMP Long/Cash Index will return to being fully invested in commodity futures if the month end value of the commodity futures in the Commodity Index returns to a -10% value from its daily high as of month end. However, if the Commodity Index declines further to 20% from its recent highest value, 25% of the CEMP Long/Cash Index will be reinvested from cash equivalents back into the commodity futures of the Commodity Index at their current commodity weighting. If the Commodity Index declines still further to 30% from the recent highest value, another 25% of the CEMP Long/Cash Index will be reinvested back into the commodity futures of the Commodity Index at their current commodity weighting. If the Commodity Index declines even further to 40% (or more) from the recent highest value, the remaining 25% of the CEMP Long/Cash Index will be reinvested back into the commodity futures of the CEMP Long/Cash Index.

The CEMP Long/Cash Index’s exposure to the market is dictated by a mathematical index construction algorithm, which is not subject to discretionary human judgment or intervention. The CEMP Long/Cash Index’s commodity futures component is reconstituted every March and September.

The Subsidiary’s investments in such commodity futures are weighted based on the volatility of each commodity. When viewed on a consolidated basis, the Subsidiary will be subject to the same investment restrictions as the Fund.

The Fund concentrates investments in the securities of commodities industries issuers because, under normal circumstances, it invests at least 25% of its assets in the commodities industries. The Fund defines commodities industries issuers as all commodity-related futures contracts. For purposes of measuring securities of commodities industries investments, the Fund includes futures contracts at their notional value.

Strategy Portfolio Concentration [Text]

rr_StrategyPortfolioConcentration

The Fund seeks to achieve its investment objective by investing up to 25% of the Fund's net assets (measured at the time of investment) in a wholly-owned and controlled subsidiary organized under the laws of the Cayman Islands (the "Subsidiary") that will invest primarily in (long only) futures contracts related to the twenty most liquid commodities (such as oil, corn, or gold) by trading volume.

Risk [Heading]

rr_RiskHeading

Principal Risks of Investing in the Fund

Risk Narrative [Text Block]

rr_RiskNarrativeTextBlock

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. The Fund is not intended to be a complete investment program.

• Commodity Risk. 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.

• Fixed Income Risk. 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.

• Foreign Exposure Risk. 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.

• Futures Risk. 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.

• Junk Bond Risk. Lower-quality fixed income securities, known as “high yield” or “junk” bonds, present greater risk than bonds of higher quality, including an increased risk of default. These securities are considered speculative.

• Leverage Risk. Using derivatives to increase the Fund’s combined long and short exposure creates leverage, which can magnify the Fund’s potential for gain or loss and, therefore, amplify the effects of market volatility on the Fund’s share price.

• Limited History of Operations. The Fund is a new mutual fund and has a limited history of operations for investors to evaluate.

• Management Risk. The Advisor’s asset selection methodology may produce incorrect judgments about the value a particular asset and may not produce the desired results.

• Tracking Risks. The Fund may not be able to replicate exactly the performance of the Index because of transaction costs incurred by the Fund in adjusting the actual balance of the investments in the Fund’s portfolio.

• Wholly-Owned Subsidiary Risk. 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.

Risk Lose Money [Text]

rr_RiskLoseMoney

The Fund's returns will vary and you could lose money on your investment in the Fund.

Bar Chart and Performance Table [Heading]

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Performance:

Performance Narrative [Text Block]

rr_PerformanceNarrativeTextBlock

The bar chart and performance table below show the variability of the Fund’s returns, which is some indication of the risks of investing in the Fund. The bar chart shows performance of the Fund’s Class I shares for each full calendar year since the Fund’s inception. The performance table compares the performance of the Fund’s Class I shares over time to the performance of a broad-based market index. You should be aware that the Fund’s past performance (before and after taxes) may not be an indication of how the Fund will perform in the future. Although Class A shares, Class T shares and Class C shares would have similar annual returns to Class I shares because the classes are invested in the same portfolio of securities, the returns for Class A shares, Class T shares and Class C shares would be different from Class I shares because Class A shares, Class T and Class C shares have different expenses than Class I shares. Updated performance information is available by calling 1-888-944-4367.

Performance Information Illustrates Variability of Returns [Text]

rr_PerformanceInformationIllustratesVariabilityOfReturns

The bar chart and performance table below show the variability of the Fund’s returns, which is some indication of the risks of investing in the Fund. The bar chart shows performance of the Fund’s Class I shares for each full calendar year since the Fund's inception.

Performance Availability Phone [Text]

rr_PerformanceAvailabilityPhone

1-888-944-4367

Performance Past Does Not Indicate Future [Text]

rr_PerformancePastDoesNotIndicateFuture

You should be aware that the Fund’s past performance (before and after taxes) may not be an indication of how the Fund will perform in the future

Bar Chart [Heading]

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Class I Performance Bar Chart for Calendar Years Ended December 31

(Returns do not reflect sales loads and would be lower if they did)

Bar Chart Does Not Reflect Sales Loads [Text]

rr_BarChartDoesNotReflectSalesLoads

Returns do not reflect sales loads and would be lower if they did

Bar Chart Closing [Text Block]

rr_BarChartClosingTextBlock

Best Quarter:	6/30/13	0.21%
Worst Quarter:	3/31/13	(3.10)%

Highest Quarterly Return, Label

rr_HighestQuarterlyReturnLabel

Best Quarter:

Highest Quarterly Return, Date

rr_BarChartHighestQuarterlyReturnDate

Jun. 30, 2013

Highest Quarterly Return

rr_BarChartHighestQuarterlyReturn

0.21%

Lowest Quarterly Return, Label

rr_LowestQuarterlyReturnLabel

Worst Quarter:

Lowest Quarterly Return, Date

rr_BarChartLowestQuarterlyReturnDate

Mar. 31, 2013

Lowest Quarterly Return

rr_BarChartLowestQuarterlyReturn

(3.10%)

Performance Table Heading

rr_PerformanceTableHeading

Performance Table

Average Annual Total Returns

(For periods ended December 31, 2013)

Index No Deduction for Fees, Expenses, Taxes [Text]

rr_IndexNoDeductionForFeesExpensesTaxes

reflects no deduction for fees, expenses or taxes

Performance Table Uses Highest Federal Rate

rr_PerformanceTableUsesHighestFederalRate

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.

Performance Table Not Relevant to Tax Deferred

rr_PerformanceTableNotRelevantToTaxDeferred

Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to investors who hold shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.

Performance Table One Class of after Tax Shown [Text]

rr_PerformanceTableOneClassOfAfterTaxShown

After-tax returns for Class A, Class T and Class C shares will vary.

Performance Table Closing [Text Block]

rr_PerformanceTableClosingTextBlock

After-tax returns were calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to investors who hold shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After tax returns for the share classes which are not presented will vary from the after-tax returns of Class I shares.

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 I shares. After-tax returns for Class A, Class T and Class C shares will vary.

Compass EMP Commodity Strategies Enhanced Volatility Weighted Fund | Dow Jones UBS Commodity Index (reflects no deduction for fees, expenses or taxes)

Prospectus [Line Items]

rr_ProspectusLineItems

1 Year

rr_AverageAnnualReturnYear01

(9.52%)

Since Inception

rr_AverageAnnualReturnSinceInception

(10.67%)

Compass EMP Commodity Strategies Enhanced Volatility Weighted Fund | Class A

Prospectus [Line Items]

rr_ProspectusLineItems

Trading Symbol

dei_TradingSymbol

CCNAX

Maximum Sales Charge Imposed on Purchases (as a percentage of Offering Price)

rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice

5.75%

Exchange Fee

rr_ExchangeFee

$ 15

Management Fees (as a percentage of Assets)

rr_ManagementFeesOverAssets

1.25%

Distribution and Service (12b-1) Fees

rr_DistributionAndService12b1FeesOverAssets

0.25%

Other Expenses (as a percentage of Assets):

rr_OtherExpensesOverAssets

0.21%

Acquired Fund Fees and Expenses

rr_AcquiredFundFeesAndExpensesOverAssets

0.06%

Expenses (as a percentage of Assets)

rr_ExpensesOverAssets

1.77%

Fee Waiver or Reimbursement

rr_FeeWaiverOrReimbursementOverAssets

(0.11%)

^[1]

Net Expenses (as a percentage of Assets)

rr_NetExpensesOverAssets

1.66%

Expense Breakpoint Discounts [Text]

rr_ExpenseBreakpointDiscounts

You may qualify for sales charge discounts on purchases of Class A or Class T shares if you and your family invest, or agree to invest in the future, at least $50,000 in the Compass EMP Funds.

Expense Breakpoint, Minimum Investment Required [Amount]

rr_ExpenseBreakpointMinimumInvestmentRequiredAmount

50,000

Expense Example, with Redemption, 1 Year

rr_ExpenseExampleYear01

734

Expense Example, with Redemption, 3 Years

rr_ExpenseExampleYear03

1,089

Expense Example, with Redemption, 5 Years

rr_ExpenseExampleYear05

1,468

Expense Example, with Redemption, 10 Years

rr_ExpenseExampleYear10

2,527

Label

rr_AverageAnnualReturnLabel

Return before taxes

1 Year

rr_AverageAnnualReturnYear01

(10.60%)

Since Inception

rr_AverageAnnualReturnSinceInception

(12.09%)

Inception Date

rr_AverageAnnualReturnInceptionDate

Nov. 19, 2012

Compass EMP Commodity Strategies Enhanced Volatility Weighted Fund | Class T

Prospectus [Line Items]

rr_ProspectusLineItems

Trading Symbol

dei_TradingSymbol

CCNTX

Maximum Sales Charge Imposed on Purchases (as a percentage of Offering Price)

rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice

3.50%

Exchange Fee

rr_ExchangeFee

15

Management Fees (as a percentage of Assets)

rr_ManagementFeesOverAssets

1.25%

Distribution and Service (12b-1) Fees

rr_DistributionAndService12b1FeesOverAssets

0.50%

Other Expenses (as a percentage of Assets):

rr_OtherExpensesOverAssets

0.21%

Acquired Fund Fees and Expenses

rr_AcquiredFundFeesAndExpensesOverAssets

0.06%

Expenses (as a percentage of Assets)

rr_ExpensesOverAssets

2.02%

Fee Waiver or Reimbursement

rr_FeeWaiverOrReimbursementOverAssets

(0.11%)

^[1]

Net Expenses (as a percentage of Assets)

rr_NetExpensesOverAssets

1.91%

Expense Breakpoint Discounts [Text]

rr_ExpenseBreakpointDiscounts

You may qualify for sales charge discounts on purchases of Class A or Class T shares if you and your family invest, or agree to invest in the future, at least $50,000 in the Compass EMP Funds.

Expense Breakpoint, Minimum Investment Required [Amount]

rr_ExpenseBreakpointMinimumInvestmentRequiredAmount

50,000

Expense Example, with Redemption, 1 Year

rr_ExpenseExampleYear01

537

Expense Example, with Redemption, 3 Years

rr_ExpenseExampleYear03

950

Expense Example, with Redemption, 5 Years

rr_ExpenseExampleYear05

1,389

Expense Example, with Redemption, 10 Years

rr_ExpenseExampleYear10

2,604

Label

rr_AverageAnnualReturnLabel

Return before taxes

1 Year

rr_AverageAnnualReturnYear01

(8.66%)

Since Inception

rr_AverageAnnualReturnSinceInception

(10.37%)

Inception Date

rr_AverageAnnualReturnInceptionDate

Nov. 19, 2012

Compass EMP Commodity Strategies Enhanced Volatility Weighted Fund | Class C

Prospectus [Line Items]

rr_ProspectusLineItems

Trading Symbol

dei_TradingSymbol

CCNCX

Maximum Sales Charge Imposed on Purchases (as a percentage of Offering Price)

rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice

none

Exchange Fee

rr_ExchangeFee

15

Management Fees (as a percentage of Assets)

rr_ManagementFeesOverAssets

1.25%

Distribution and Service (12b-1) Fees

rr_DistributionAndService12b1FeesOverAssets

1.00%

Other Expenses (as a percentage of Assets):

rr_OtherExpensesOverAssets

0.21%

Acquired Fund Fees and Expenses

rr_AcquiredFundFeesAndExpensesOverAssets

0.06%

Expenses (as a percentage of Assets)

rr_ExpensesOverAssets

2.52%

Fee Waiver or Reimbursement

rr_FeeWaiverOrReimbursementOverAssets

(0.11%)

^[1]

Net Expenses (as a percentage of Assets)

rr_NetExpensesOverAssets

2.41%

Expense Example, with Redemption, 1 Year

rr_ExpenseExampleYear01

244

Expense Example, with Redemption, 3 Years

rr_ExpenseExampleYear03

773

Expense Example, with Redemption, 5 Years

rr_ExpenseExampleYear05

1,329

Expense Example, with Redemption, 10 Years

rr_ExpenseExampleYear10

2,844

Label

rr_AverageAnnualReturnLabel

Return before taxes

1 Year

rr_AverageAnnualReturnYear01

(5.89%)

Since Inception

rr_AverageAnnualReturnSinceInception

(8.02%)

Inception Date

rr_AverageAnnualReturnInceptionDate

Nov. 19, 2012

Compass EMP Commodity Strategies Enhanced Volatility Weighted Fund | Class I

Prospectus [Line Items]

rr_ProspectusLineItems

Trading Symbol

dei_TradingSymbol

CCNIX

Maximum Sales Charge Imposed on Purchases (as a percentage of Offering Price)

rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice

none

Exchange Fee

rr_ExchangeFee

15

Management Fees (as a percentage of Assets)

rr_ManagementFeesOverAssets

1.25%

Distribution and Service (12b-1) Fees

rr_DistributionAndService12b1FeesOverAssets

none

Other Expenses (as a percentage of Assets):

rr_OtherExpensesOverAssets

0.21%

Acquired Fund Fees and Expenses

rr_AcquiredFundFeesAndExpensesOverAssets

0.06%

Expenses (as a percentage of Assets)

rr_ExpensesOverAssets

1.52%

Fee Waiver or Reimbursement

rr_FeeWaiverOrReimbursementOverAssets

(0.11%)

^[1]

Net Expenses (as a percentage of Assets)

rr_NetExpensesOverAssets

1.41%

Expense Example, with Redemption, 1 Year

rr_ExpenseExampleYear01

143

Expense Example, with Redemption, 3 Years

rr_ExpenseExampleYear03

469

Expense Example, with Redemption, 5 Years

rr_ExpenseExampleYear05

817

Expense Example, with Redemption, 10 Years

rr_ExpenseExampleYear10

$ 1,800

Annual Return 2013

rr_AnnualReturn2013

(4.75%)

Label

rr_AverageAnnualReturnLabel

Return before taxes

1 Year

rr_AverageAnnualReturnYear01

(4.75%)

Since Inception

rr_AverageAnnualReturnSinceInception

(6.93%)

Inception Date

rr_AverageAnnualReturnInceptionDate

Nov. 19, 2012

Compass EMP Commodity Strategies Enhanced Volatility Weighted Fund | Class I | Return after taxes on distributions

Prospectus [Line Items]

rr_ProspectusLineItems

1 Year

rr_AverageAnnualReturnYear01

(4.75%)

Since Inception

rr_AverageAnnualReturnSinceInception

(6.93%)

Compass EMP Commodity Strategies Enhanced Volatility Weighted Fund | Class I | Return after taxes on distributions and sale of Fund shares

Prospectus [Line Items]

rr_ProspectusLineItems

1 Year

rr_AverageAnnualReturnYear01

(2.69%)

Since Inception

rr_AverageAnnualReturnSinceInception

(5.28%)

[1] The advisor has contractually agreed to waive its fees and reimburse expenses of the Fund, at least until March 31, 2015 to ensure that Total Annual Fund Operating Expenses After Fee Waiver and Reimbursement (exclusive of any taxes, interest, brokerage commissions, acquired fund fees and expenses, 12b-1 distribution and/or servicing fees and extraordinary expenses, such as litigation or reorganization costs, and inclusive of organizational costs incurred prior to the commencement of operations) will not exceed 1.35% for each class of shares of the Fund. The agreement may be terminated only by the Fund's Board of Trustees on 60 days' written notice to the advisor and shall automatically terminate upon the termination of the Management Agreement for the Fund. Any waiver or reimbursement by the advisor is subject to repayment by the Fund within the three fiscal years following the fiscal year in which the expenses occurred if the Fund is able to make the repayment without exceeding its current expense limitation and the repayment is approved by the Board of Trustees.

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Compass EMP Commodity Strategies Enhanced Volatility Weighted Fund

FUND SUMMARY - COMPASS EMP COMMODITY STRATEGIES ENHANCED VOLATILITY WEIGHTED FUND (formerly known as the Compass EMP Commodity Long/Short Strategies Fund)

Investment Objective:

The Fund seeks capital appreciation.

Fees and Expenses of the Fund:

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 or Class T 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 are available from your financial professional, in How to Purchase Shares on page 10 of the Fund’s Prospectus and in Purchase and Redemption of Shares on page 52 of the Fund’s Statement of Additional Information.

Shareholder Fees

(fees paid directly from your investment)

Shareholder Fees Compass EMP Commodity Strategies Enhanced Volatility Weighted Fund (USD $)	Class A	Class T	Class C	Class I
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price)	5.75%	3.50%	none	none
Wire Redemption Fee (per wire redemption; deducted directly from account)	15	15	15	15

Annual Fund Operating Expenses

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

Annual Fund Operating Expenses Compass EMP Commodity Strategies Enhanced Volatility Weighted Fund		Class A	Class T	Class C	Class I
Management Fees		1.25%	1.25%	1.25%	1.25%
Distribution and Service (12b-1) Fees		0.25%	0.50%	1.00%	none
Other Expenses		0.21%	0.21%	0.21%	0.21%
Acquired Fund Fees and Expenses		0.06%	0.06%	0.06%	0.06%
Total Annual Fund Operating Expenses		1.77%	2.02%	2.52%	1.52%
Fee Waivers and Expense Reimbursement	[1]	(0.11%)	(0.11%)	(0.11%)	(0.11%)
Total Annual Fund Operating Expenses After Fee Waivers and Expense Reimbursement		1.66%	1.91%	2.41%	1.41%

Example:

This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

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:

Expense Example Compass EMP Commodity Strategies Enhanced Volatility Weighted Fund (USD $)	1 Year	3 Years	5 Years	10 Years
Class A	734	1,089	1,468	2,527
Class T	537	950	1,389	2,604
Class C	244	773	1,329	2,844
Class I	143	469	817	1,800

Portfolio Turnover:

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. For the fiscal period from November 19, 2012 to June 30, 2013, the Fund’s portfolio turnover rate was 0.07% of the average value of its portfolio.

Principal Investment Strategies

The Fund seeks to achieve its investment objective by investing up to 25% of the Fund’s net assets (measured at the time of investment) in a wholly-owned and controlled subsidiary organized under the laws of the Cayman Islands (the “Subsidiary”) that will invest primarily in (long only) futures contracts related to the twenty most liquid commodities (such as oil, corn, or gold) by trading volume. The Fund seeks to track the returns of the CEMP Commodity Long/Cash Volatility Weighted Index (the “CEMP Long/Cash Index”) before expenses. The Fund employs a replication strategy that entails holding all, or approximately all, the futures in the CEMP Long/Cash Index. The Fund may gain exposure to a commodity that is scheduled to be included in the Long/Short Index prior to the effective inclusion date.

The Fund will invest the balance of its assets primarily in fixed income securities, including domestic and foreign treasury bills and notes, commercial paper and corporate debt and other investments intended to serve as margin or collateral for the Subsidiary’s derivative positions. The Fund expects the dollar-weighted average fixed income maturity to be 36 months or less and the credit quality of such securities to be primarily investment grade (defined as having a rating of BBB- and above). However, up to 20% of the fixed income portfolio may be composed of lower-quality corporate notes and bonds rated B- or higher, which are commonly referred to as “junk bonds.”

The CEMP Long/Cash Index generally consists of long-only futures contracts related to the twenty most liquid commodities by trading volume but seeks to limit risk during unfavorable market conditions by reducing its exposure to the market by allocating to cash. Market conditions are measured by reference to the CEMP Commodity Volatility Weighted Index (the “Commodity Index”), which is composed of the same commodity futures as in the CEMP Long/Cash Index, but without any allocation to cash. In other words, the Commodity Index is always 100% invested in commodity futures.

During a period of market decline, defined as a 10% drop from the all-time daily high and based on the month end value of the Commodity Index, exposure to the market may be as low as 25% depending on the magnitude and duration of such decline. The CEMP Long/Cash Index will return to being fully invested in commodity futures if the month end value of the commodity futures in the Commodity Index returns to a -10% value from its daily high as of month end. However, if the Commodity Index declines further to 20% from its recent highest value, 25% of the CEMP Long/Cash Index will be reinvested from cash equivalents back into the commodity futures of the Commodity Index at their current commodity weighting. If the Commodity Index declines still further to 30% from the recent highest value, another 25% of the CEMP Long/Cash Index will be reinvested back into the commodity futures of the Commodity Index at their current commodity weighting. If the Commodity Index declines even further to 40% (or more) from the recent highest value, the remaining 25% of the CEMP Long/Cash Index will be reinvested back into the commodity futures of the CEMP Long/Cash Index.

The CEMP Long/Cash Index’s exposure to the market is dictated by a mathematical index construction algorithm, which is not subject to discretionary human judgment or intervention. The CEMP Long/Cash Index’s commodity futures component is reconstituted every March and September.

The Subsidiary’s investments in such commodity futures are weighted based on the volatility of each commodity. When viewed on a consolidated basis, the Subsidiary will be subject to the same investment restrictions as the Fund.

The Fund concentrates investments in the securities of commodities industries issuers because, under normal circumstances, it invests at least 25% of its assets in the commodities industries. The Fund defines commodities industries issuers as all commodity-related futures contracts. For purposes of measuring securities of commodities industries investments, the Fund includes futures contracts at their notional value.

Principal Risks of Investing in the Fund

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. The Fund is not intended to be a complete investment program.

• Commodity Risk. 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.

• Fixed Income Risk. 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.

• Foreign Exposure Risk. 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.

• Futures Risk. 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.

• Junk Bond Risk. Lower-quality fixed income securities, known as “high yield” or “junk” bonds, present greater risk than bonds of higher quality, including an increased risk of default. These securities are considered speculative.

• Leverage Risk. Using derivatives to increase the Fund’s combined long and short exposure creates leverage, which can magnify the Fund’s potential for gain or loss and, therefore, amplify the effects of market volatility on the Fund’s share price.

• Limited History of Operations. The Fund is a new mutual fund and has a limited history of operations for investors to evaluate.

• Management Risk. The Advisor’s asset selection methodology may produce incorrect judgments about the value a particular asset and may not produce the desired results.

• Tracking Risks. The Fund may not be able to replicate exactly the performance of the Index because of transaction costs incurred by the Fund in adjusting the actual balance of the investments in the Fund’s portfolio.

• Wholly-Owned Subsidiary Risk. 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.

Performance:

The bar chart and performance table below show the variability of the Fund’s returns, which is some indication of the risks of investing in the Fund. The bar chart shows performance of the Fund’s Class I shares for each full calendar year since the Fund’s inception. The performance table compares the performance of the Fund’s Class I shares over time to the performance of a broad-based market index. You should be aware that the Fund’s past performance (before and after taxes) may not be an indication of how the Fund will perform in the future. Although Class A shares, Class T shares and Class C shares would have similar annual returns to Class I shares because the classes are invested in the same portfolio of securities, the returns for Class A shares, Class T shares and Class C shares would be different from Class I shares because Class A shares, Class T and Class C shares have different expenses than Class I shares. Updated performance information is available by calling 1-888-944-4367.

Class I Performance Bar Chart for Calendar Years Ended December 31

(Returns do not reflect sales loads and would be lower if they did)

Best Quarter:	6/30/13	0.21%
Worst Quarter:	3/31/13	(3.10)%

Performance Table

Average Annual Total Returns

(For periods ended December 31, 2013)

Average Annual Total Returns Compass EMP Commodity Strategies Enhanced Volatility Weighted Fund	Label	One Year	Since Inception	Inception Date
Class I	Return before taxes	(4.75%)	(6.93%)	Nov. 19, 2012
Class I Return after taxes on distributions		(4.75%)	(6.93%)
Class I Return after taxes on distributions and sale of Fund shares		(2.69%)	(5.28%)
Class A	Return before taxes	(10.60%)	(12.09%)	Nov. 19, 2012
Class T	Return before taxes	(8.66%)	(10.37%)	Nov. 19, 2012
Class C	Return before taxes	(5.89%)	(8.02%)	Nov. 19, 2012
Dow Jones UBS Commodity Index (reflects no deduction for fees, expenses or taxes)		(9.52%)	(10.67%)

After-tax returns were calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to investors who hold shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After tax returns for the share classes which are not presented will vary from the after-tax returns of Class I shares.

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 I shares. After-tax returns for Class A, Class T and Class C shares will vary.

[1] The advisor has contractually agreed to waive its fees and reimburse expenses of the Fund, at least until March 31, 2015 to ensure that Total Annual Fund Operating Expenses After Fee Waiver and Reimbursement (exclusive of any taxes, interest, brokerage commissions, acquired fund fees and expenses, 12b-1 distribution and/or servicing fees and extraordinary expenses, such as litigation or reorganization costs, and inclusive of organizational costs incurred prior to the commencement of operations) will not exceed 1.35% for each class of shares of the Fund. The agreement may be terminated only by the Fund's Board of Trustees on 60 days' written notice to the advisor and shall automatically terminate upon the termination of the Management Agreement for the Fund. Any waiver or reimbursement by the advisor is subject to repayment by the Fund within the three fiscal years following the fiscal year in which the expenses occurred if the Fund is able to make the repayment without exceeding its current expense limitation and the repayment is approved by the Board of Trustees.