NSPY [delisted] Unified Series Trust - Nightshares Russell 1000 ETF

Under normal circumstances, the fund invests its net assets (plus borrowings for investment purposes) in exchange-traded funds ("ETFs") that invest in or track the performance of large capU. S. companies, large capU. S. companies, equity swaps, futures contracts, or options on such large capU. S. companies or an index of such large capU. S. companies.

The fund will also purchase United States Treasury securities and maintain collateral during periods when derivatives are utilized to capture the night effect on the large capU. S. companies.