Dana Investment Advisors Test

You should carefully consider the investment objectives, potential risks, management fees, and charges and expenses of the Dana Funds before investing. The Funds’ prospectus contains this and other information about the Fund, and should be read carefully before investing. You may obtain a current copy of the Funds’ prospectus by calling 1-855-280-9648.

There is no guarantee that this, or any, investment strategy will succeed. Past performance of the strategy is not an indicator of future performance of the funds.

The universe of acceptable investments for the Dana Epiphany ESG Funds (DSCIX & ESGIX) may be limited as compared to other funds due to the Dana Epiphany ESG Funds’ ESG investment screening. Because the Dana Epiphany ESG Funds does not invest in companies that do not meet its ESG criteria, and the Fund may sell portfolio companies that subsequently violate its screens, the Dana Epiphany ESG Funds may be riskier than other mutual funds that invest in a broader array of securities. ESG investing is considering environmental, social and governance factors into your security research.

Small cap investing involves greater risk not associated with investing in more established companies, such as greater price volatility, business risk, less liquidity and increased competitive threat.
 
Given the significant differences between separately managed accounts and mutual funds, investors should consider the differences in expenses, tax implications and the overall objectives between separately managed accounts and mutual funds before investing.