Summary Prospectus by Investment Company (Form 497K)

November 26, 2025, as restated April 30, 2026

Summary Prospectus

 

Hartford Alpha Capture Value ETF (formerly, Hartford Quality Value ETF)
Ticker:	ACVU	Exchange:	Cboe BZX

INVESTMENT OBJECTIVE. The Fund seeks long-term capital appreciation.

YOUR EXPENSES. The table below describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table or the example below.

Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment): 

Management fees	0.45%
Distribution and service (12b-1) fees	None
Other expenses	0.00%
Total annual fund operating expenses	0.45%

Example. The example below is intended to help you compare the cost of investing in the Fund with the cost of investing in other exchange-traded funds. The example assumes that:

Your actual costs may be higher or lower. Based on these assumptions, for every $10,000 invested, you would pay the following expenses if you sell all of your shares at the end of each time period indicated: 

Year 1	Year 3	Year 5	Year 10
$46	$144	$252	$567

Portfolio Turnover. The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund's performance. During the fiscal year ended July 31, 2025, the Fund's portfolio turnover rate was 31% of the average value of its portfolio.

PRINCIPAL INVESTMENT STRATEGY. Under normal circumstances, the Fund seeks to achieve its investment objective by investing primarily in common stocks of issuers located in the United States. Wellington Management Company LLP ("Wellington Management"), the Fund's sub-adviser, chooses the Fund's investments using fundamental research to identify undervalued companies in the marketplace relative to a variety of characteristics. The Fund may invest in a broad range of market capitalizations but tends to focus on large-capitalization companies with market capitalizations similar to those of companies in the Russell 1000 Value Index. The Fund's portfolio seeks to be broadly diversified by company and industry. Based on market or economic conditions, the Fund may, through its normal stock selection process, focus on one or more sectors of the market.

The Fund's portfolio manager selects stocks from an investment universe populated by multiple fundamental equity investment teams at the sub adviser, Wellington Management, with different investment approaches. Each fundamental equity team has a distinct investment philosophy and analytical process to identify securities. The Fund's investment universe represents a wide range of investment philosophies, companies, industries and market capitalizations. The Fund's portfolio manager chooses a subset of companies from the investable universe for inclusion in the portfolio to seek to create a portfolio of high conviction stocks based on the views of the fundamental equity investment teams. The Fund's portfolio manager also may invest a portion of the Fund's assets in securities that the portfolio manager believes may complement the Fund's total risk profile. The Fund's portfolio manager does not allocate a set percentage to any investment approach or security but instead seeks a flexible and diversified Fund profile. The portfolio manager also uses quantitative portfolio construction tools as part of their process.

PRINCIPAL RISKS. The principal risks of investing in the Fund are described below. When you sell your shares they may be worth more or less than what you paid for them, which means that you could lose money as a result of your investment. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. As with any fund, there is no guarantee that the Fund will achieve its investment objective. For more information regarding risks and investment matters, please see "Additional Information Regarding Investment Strategies and Risks" in the Fund's statutory prospectus.

Market Risk -  Market risk is the risk that one or more markets in which the Fund invests will go down in value, including the possibility that the markets will go down sharply and unpredictably. Securities of a company may decline in value due to its financial prospects and activities, including certain operational impacts, such as data breaches and cybersecurity attacks. Securities may also decline in value due to general market and economic movements and trends, including adverse changes to credit markets, or as a result of other events (or threat thereof), such as geopolitical events, natural disasters, or widespread pandemics (such as COVID-19) or other adverse public health developments.

Equity Risk -  The risk that the price of equity or equity related securities may decline due to changes in a company's financial condition and overall market and economic conditions.

Large Cap Securities Risk -  The securities of large market capitalization companies may underperform other segments of the market because such companies may be less responsive to competitive challenges and opportunities and may be unable to attain high growth rates during periods of economic expansion.

Value Investing Style Risk -  Using a value investing style to select investments involves special risks. Overlooked or otherwise undervalued securities entail a significant risk of never attaining their potential value or may even be overpriced. Also, the value investing style may over time go in and out of favor. At times when the value investing style is out of favor, the Fund may underperform other equity funds that use different investing styles. "Value" securities can be undervalued by the market for long periods of time.

Dividend Risk -  Income provided by the Fund may be affected by changes in the dividend policies of the companies in which the Fund invests and the capital resources available for such payments at such companies. At times, the performance of dividend-paying companies may lag the performance of other companies or the broader market as a whole. In addition, the dividend payments of the companies in which the Fund invests may vary over time, and there is no guarantee that a company will pay a dividend at all.

Active Investment Management Risk -  The risk that, if the sub-adviser's investment strategy does not perform as expected, the Fund could underperform its peers or lose money.

Sector Risk -  To the extent the Fund invests more heavily in a particular sector or sectors, its performance will be especially sensitive to developments that significantly affect those sectors. Individual sectors may be more volatile, and may perform differently, from the broader market.

Market Price Risk -  The net asset value ("NAV") of the Fund's shares and the value of your investment may fluctuate. The market prices of the Fund's shares will generally fluctuate in accordance with changes in NAV and changes in the intraday value of the Fund's holdings, as well as the relative supply of and demand for the shares on the Fund's listing exchange. Although it is expected that the Fund's shares will remain listed on the exchange, disruptions to creations and redemptions, the existence of market volatility or lack of an active trading market for the shares (including through a trading halt), as well as other factors, may result in the shares trading significantly above (at a premium to) or below (at a discount to) the Fund's NAV or the intraday value of the Fund's holdings. In addition, because liquidity in certain underlying portfolio securities may fluctuate over time, shares of the Fund may, at times, trade at a larger than normal premium or discount to NAV. In addition, to the extent certain of the Fund's portfolio securities are trading on days or at times the Fund's shares are not trading, bid-ask spreads and the resulting premium or discount to the NAV of the Fund's shares may widen. During such periods, you may be unable to sell your shares or may incur significant losses if you sell your shares. There are various methods by which investors can purchase and sell shares and various types of orders that may be placed. Investors should consult their financial intermediary before purchasing or selling shares of the Fund. Neither the investment manager nor the Fund's sub-adviser can predict whether the Fund's shares will trade below, at or above their NAV. Price differences may be due, in large part, to the fact that supply and demand forces at work in the secondary trading market for the Fund's shares will be closely related to, but not identical to, the same forces influencing the prices of the Fund's holdings trading individually or in the aggregate at any point in time. In addition, unlike many ETFs, the Fund is not an index fund. The Fund is actively managed and does not seek to replicate the performance of a specified index. There can be no assurance as to whether and/or to what extent the Fund's shares will trade at premiums or discounts to NAV or to the intraday value of the Fund's holdings.

Quantitative Investing Risk -  The value of securities or other investments selected using quantitative analysis can perform differently from the market as a whole or from their expected performance. This may be as a result of the factors used in the analysis, the weights placed on each factor, and changes in the historical trends of the factors.

Active Trading Risk -  Active trading could increase the Fund's transaction costs and may increase your tax liability as compared to a fund with less active trading policies. These effects may adversely affect Fund performance.

Authorized Participant Concentration Risk -  Only an authorized participant may engage in creation or redemption transactions directly with the Fund. The Fund has a limited number of intermediaries that act as authorized participants on an agency basis (i.e., on behalf of other market participants), and none of these authorized participants are or will be obligated to engage in creation or redemption transactions. To the extent that these intermediaries exit the business or are unable to or choose not to proceed with creation and/or redemption orders with respect to the Fund and no other authorized participant is able to step forward to create or redeem, Fund shares may trade at a premium or discount to NAV and possibly face trading halts and/or delisting.

The Fund is subject to certain other risks, which are discussed in "Additional Information Regarding Investment Strategies and Risks" and "More Information About Risks" in the Fund's statutory prospectus.

PAST PERFORMANCE. The performance information shown below provides some indications of the risks of investing in this Fund. Effective as of October 13, 2023, the Fund acquired all eligible assets and liabilities of Hartford Quality Value Fund (the "Predecessor Fund"), a mutual fund series of The Hartford Mutual Funds II, Inc., and adopted the accounting and performance history of the Predecessor Fund (the "Conversion"). The Fund has the same investment objective, strategies, policies and portfolio management team as the Predecessor Fund.

The bar chart shows how the performance of the Fund's shares (represented through October 13, 2023 by the performance of the Predecessor Fund's Class F shares) has varied from year to year for the past ten calendar years. The table shows the Fund's average annual total returns (represented through October 13, 2023 by the average annual total returns of the Predecessor Fund's Class F shares) for the past one year, five years and ten years.

The performance of the Predecessor Fund shown below through October 13, 2023 has not been adjusted to reflect the lower fees and expenses that are incurred by the Fund. The Predecessor Fund was a mutual fund, and the average annual total returns as shown below are based on NAV per share, and are not based on market prices for an ETF share as traded on an exchange. Predecessor Fund performance is based on the performance of Class F shares through October 13, 2023 and includes the Predecessor Fund's performance when the Predecessor Fund pursued a different investment objective and principal investment strategy prior to November 1, 2017.

The bar chart and performance information provide an indication of the historical risk of an investment in the Fund by showing:

You may obtain updated performance information on the website at hartfordfunds.com.

Past performance, as shown for the Predecessor Fund through October 13, 2023 and the Fund, before and after taxes, does not necessarily indicate how the Fund will perform in the future.

Total returns by calendar year

The annual returns in the bar chart are for the Predecessor Fund's Class F shares through October 13, 2023 and for the Fund thereafter.

  

During the periods shown in the chart above:	Returns	Quarter Ended
Best Quarter Return	14.08%	December 31, 2020
Worst Quarter Return	-24.83%	March 31, 2020

 

The

year-to-date

return of the Fund as of

September 30, 2025

was

8.85%

.

Average Annual Total Returns. The table below shows returns for the Fund and, through October 13, 2023, the Predecessor Fund, over time compared to those of two market indices. The Russell 1000 Value Index serves as the Fund's performance index because the Fund's investment manager believes it is more representative of the Fund's investment strategy. The Russell 1000 Index serves as the Fund's regulatory index and provides a broad measure of market performance. After-tax returns, which are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes, are shown only for Class F shares of the Predecessor Fund through October 13, 2023. Actual after-tax returns, which depend on an investor's particular tax

situation, may differ from those shown and are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. Updated performance information is available by visiting our website at hartfordfunds.com.

Average annual total returns for periods ending December 31, 2024  

Hartford Alpha Capture Value ETF	1 Year	5 Years	10 Years
Return Before Taxes*	10.03%	8.07%	8.19%
Return After Taxes on Distributions*	9.05%	6.91%	6.82%
Return After Taxes on Distributions and Sale of Fund Shares*	6.64%	6.24%	6.28%
Russell 1000 Value Index (reflects no deduction for fees, expenses or taxes)	14.37%	8.68%	8.49%
Russell 1000 Index (reflects no deduction for fees, expenses or taxes)	24.51%	14.28%	12.87%

MANAGEMENT. The Fund's investment manager is Hartford Funds Management Company, LLC. The Fund's sub-adviser is Wellington Management.  

Portfolio Manager	Title	Involved with Fund Since
Thomas S. Simon, CFA, FRM	Senior Managing Director and Portfolio Manager	2026

PURCHASE AND SALE OF FUND SHARES. The Fund is an exchange-traded fund ("ETF"). Individual Fund shares may only be purchased and sold on a national securities exchange through a broker-dealer and may not be purchased or redeemed directly with the Fund. The price of Fund shares is based on market price, and because ETF shares trade at market prices rather than at NAV, shares may trade at a price greater than NAV (a premium) or less than NAV (a discount). When buying and selling Fund shares on an exchange, therefore, investors may incur costs related to the difference between the highest price a buyer is willing to pay to purchase Fund shares (bid) and the lowest price a seller is willing to accept for Fund shares (ask) (the "bid-ask spread"). The Fund will only issue or redeem shares at NAV that have been aggregated into blocks of shares ("Creation Units") to authorized participants ("Authorized Participants") who have entered into participant agreements with the Fund's distributor, ALPS Distributors, Inc. (the "Distributor"). The Fund will issue or redeem Creation Units in return for a basket of securities and/or cash that the Fund specifies each business day. Additional information about the Fund, including the Fund's net asset value, market price, premiums and discounts and bid-ask spreads can be found at hartfordfunds.com.

TAX INFORMATION. The Fund's distributions are generally taxable, and may be taxed as ordinary income or capital gains, unless you are investing through a tax-deferred arrangement, such as a 401(k) plan or an individual retirement account. Such tax-deferred arrangements may be taxed later upon withdrawal of monies from those arrangements.

PAYMENTS TO BROKER-DEALERS AND OTHER FINANCIAL INTERMEDIARIES. If you purchase shares of the Fund through a broker-dealer or other financial intermediary (such as a bank), the Fund's related companies may pay the intermediary for services and/or data related to the sale of Fund shares. These payments may create a conflict of interest by influencing the broker-dealer or other intermediary and your financial intermediary to recommend the Fund over another investment. Ask your financial intermediary or visit your financial intermediary's website for more information.