ETF Disclosure

Sound Income Strategies, LLC (“SIS”) serves as investment sub-adviser to the (i) Tidal ETF Trust – Sound Equity Dividend Income ETF (“DIVY”) and (ii) Sound Enhanced Fixed Income ETF (“FXED”) (together, the “SIS ETFs”), each SIS ETF is independently registered with the SEC under the Investment Company Act of 1940 (the “’40 Act”) and listed on the NYSE ARCA, Inc exchange. Please refer to the SIS’ website – for additional information on the SIS ETFs.

SIS, Tidal Investments, LLC ,CRD # 164201, an SEC registered investment adviser, (“Tidal”), the investment adviser to the SIS ETFs, and Tidal ETF Services, LLC “(“Tidal ETF”), which provides consulting and administrative support for ETFs, have entered into two agreements with respect to each SIS ETF: (i) a sub-advisory agreement (“Sub-Advisory Agreement”), which Tidal has agreed to pay SIS a sub-advisory fee equal to 0.2% of the SIS ETFs daily average net assets; and (ii) an Exchange-Traded Fund Platform Support Agreement (“Support Agreement”), which identifies each parties respective financial obligations and right to any profits associated with the SIS ETFs. SIS is responsible for recommending portfolio securities and other investment instruments on behalf of the SIS ETFs. The trading of the underlying securities are subject to the supervision of TIDAL and TIDAL ETF. As of the filing of this Brochure, the Firm has not received any fees pursuant to the terms of the two agreements. It is not anticipated the Firm will receive any fees for acting as a sub-advisor to the SIS ETFs until certain thresholds under the agreements are met.

Clients of SIS may authorize SIS to purchase these SIS ETFs in their accounts by signing a specific section of their Investment Advisory Agreement which outlines the SIS ETFs, the fees pursuant to the Sub-Advisory and Support Agreements, and any conflicts of interest that may arise.

Clients and the general public can invest directly in each of the SIS ETFs without paying additional separate account management fees to SIS. It is recommended each client carefully review both the SIS ETFs’ fees and SIS’s advisory fees in order to fully understand the total amount of fees clients will pay in connection with their investments that are managed by SIS. In addition, it is recommended for each client intending to authorize the Firm to invest clients’ assets in the SIS ETFs to review each ETF’s offering documents which set forth the investment strategies, guidelines, and restrictions of each ETF.