Filed pursuant to Rule 497(e)

Registration Nos. 333-212637; 811-23175

Matrix Advisors Dividend Fund (MADFX)

September 13, 2018

Supplement to the Prospectus, Statement of Additional Information, and Summary Prospectus

each dated October 31, 2017

Steven Pisarkiewicz has retired as Senior Portfolio Manager of the Matrix Advisors Dividend Fund and as Senior Vice President of Matrix Advisors Funds Trust.  Accordingly, all references to Mr.Pisarkiewicz in the Prospectus, Statement of Additional Information, and Summary Prospectus are deleted and should be disregarded in their entirety.

Please retain this Supplement with your Prospectus, Statement of Additional Information, and

Summary Prospectus for future reference.