Fund Description: Summit Water Infrastructure Multifactor ETF is an exchange-traded index fund or Index ETF which is a separate investment portfolio of the Elevation ETF Trust, an open-end investment management company. INVESTMENT OBJECTIVE: The Summit Water Infrastructure Multifactor ETF seeks investment results that correspond (before fees and expenses) generally to the performance of the Summit Zacks Global Water Index. INDEX DESCRIPTION: The Summit Zacks Global Water Index is a rules-based index intended to provide investors with exposure to water-related businesses globally, which may include emerging markets. The Index generally consists of 30-50 stocks that are selected by Zacks Index Services (the Index Provider) from a universe of domestic and international companies involved in water-related businesses pursuant to the criteria and methodology. To be included in the Index, companies must be listed on a global stock exchange, have a market capitalization of no less than $200 million, and have a three-month average daily trading value greater than $400,000. The Index Provider then selects stocks for inclusion in the Index through the use of a proprietary ranking and weighting methodology designed to identify the stocks in the Index Universe that primarily derive their highest-available levels of revenue from water-related business activities and provide the greatest potential in terms of yield and risk/return. The Index Provider also considers the geographic origin of stock issuers and seeks to maintain global diversification among the constituents of the Index. FUND STRATEGY: The Fund generally will invest in all of the stocks that comprise the Index in proportion to their weightings in the Index. However, under various circumstances, it may not be possible or practicable to purchase all of the stocks in the Index in those weightings. In those circumstances, the Fund may purchase a sample of the stocks in the Index to correspond as closely as possible to the performance of the Index. There may also be instances in which the Adviser may choose to overweight a stock in the Index, purchase (or sell) stocks not in the Index. In addition, from time to time, stocks are added to or removed from the Index. The Fund may sell stocks that are represented in the Index or purchase stocks that are not yet represented in the Index in anticipation of their removal from or addition to the Index. FUND MANAGEMENT: ALPS Advisors, Inc. is the investment adviser to the Fund.