GVAL

The investment seeks investment results that correspond (before fees and expenses) generally to the price and yield performance of its underlying index, the Cambria Global Value Index (the "underlying index"). Under normal market conditions, the fund will invest at least 80% of its total assets in the components of the underlying index and in depositary receipts representing components of the underlying index. The underlying index is comprised of equity securities of issuers located in developed and emerging countries, as well as exchange-traded funds composed of issuers located in such countries.