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Performance data quoted represents past performance. Past performance does not guarantee future results. Investment return and principal value will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. To obtain performance information current to the most recent month-end, please call 888-721-4588 or visit www.cavalierfunds.com
The Morningstar rankings and star ratings presented are based on returns that are net of fees or expenses that were assumed by the Advisor. This arrangement had a material positive effect on the total return for the periods presented.