Tidal Trust III Files Updated Prospectus for PRTO ETF

TL;DR

**Tidal Trust III just updated the prospectus for their PRTO ETF, standard stuff but good to know.**

AI Summary

Tidal Trust III, the filer, submitted a 497K Summary Prospectus on March 24, 2026, for its RCN Pareto Strategic Allocation ETF (ticker: PRTO). This filing updates the fund's prospectus, which is a routine disclosure for investors. It matters because it ensures investors have the most current information about the ETF's strategies, risks, and fees, which is crucial for making informed investment decisions.

Why It Matters

This filing provides updated, essential information about the RCN Pareto Strategic Allocation ETF (PRTO), ensuring investors have current details on its operations and risks.

Risk Assessment

Risk Level: low — This is a routine regulatory filing (a summary prospectus update) and does not indicate any immediate financial risk or change in the company's operations.

Analyst Insight

A smart investor would review the updated Summary Prospectus for the RCN Pareto Strategic Allocation ETF (PRTO) to ensure they are aware of any changes to its investment objectives, strategies, risks, or fees, as this is a routine but important update.

Key Numbers

• 2026-03-24 — Filing Date (Date the 497K Summary Prospectus was filed and became effective)
• 109080 — Document Size (bytes) (Size of the SUMMARY PROSPECTUS document (prto-497k_032426.htm))

Key Players & Entities

• Tidal Trust III (company) — Filer of the 497K Summary Prospectus
• RCN Pareto Strategic Allocation ETF (company) — The specific ETF whose prospectus was updated
• PRTO (company) — Ticker symbol for the RCN Pareto Strategic Allocation ETF
• 0001722388 (company) — CIK for Tidal Trust III
• 2026-03-24 (date) — Filing and Effectiveness Date of the 497K

FAQ

Key Financial Figures

• $10,000 — ds. The Example assumes that you invest $10,000 in the Fund for the time periods indica
• $84 — our costs would be: 1 Year 3 Years $84 $262 Portfolio Turnover The Fund p
• $262 — osts would be: 1 Year 3 Years $84 $262 Portfolio Turnover The Fund pays tr

Filing Documents

• prto-497k_032426.htm (497K) — 107KB
• rcn485bpos032326001.jpg (GRAPHIC) — 16KB
• 0001999371-26-006775.txt ( ) — 131KB
• S000102053
• C000272511 (PRTO)

From the Filing

PROSPECTUS RCN Pareto Strategic Allocation ETF Trading Symbol: PRTO Listed on NYSE Arca, Inc. Summary Prospectus March 24, 2026 www.paretoetf.com Before you invest, you may want to review the RCN Pareto Strategic Allocation ETF (the “Fund”) statutory prospectus and and statement of additional information dated March 23, 2026 are incorporated by reference into this Summary Prospectus. You can find the Fund’s statutory prospectus, statement of additional information, reports to shareholders, and other information about the Fund online at www.paretoetf.com. You can also get this information at no cost by calling at (888) 808-2280 or by sending an e-mail request to info@paretoetf.com. Investment Objective The RCN Pareto Strategic Allocation ETF (the "Fund") seeks long-term capital appreciation. Fees and Expenses of the Fund This table describes the fees and expenses that you may pay if you buy, hold, and sell shares of the Fund ("Shares"). You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and Example below. Annual Fund Operating Expenses (1) (expenses that you pay each year as a percentage of the value of your investment) 1 Management Fees 0.69% Distribution and Service (12b-1) Fees 0.00% Other Expenses (2) 0.00% Acquired Fund Fees and Expenses (2)(3) 0.13% Total Annual Fund Operating Expenses 0.82% (1) The Fund's adviser will pay, or require a sub-adviser to pay, all of the Fund's expenses, except for the following: advisory fees and sub-advisory fees, interest charges on any borrowings, dividends and other expenses on securities sold short, taxes, brokerage commissions and other expenses incurred in placing orders for the purchase and sale of securities and other investment instruments, acquired fund fees and expenses, accrued deferred tax liability, distribution fees and expenses paid by the Fund under any distribution plan adopted pursuant to Rule 12b-1 under the Investment Company Act of 1940, as amended (the "1940 Act"), and litigation expenses, and other non-routine or extraordinary expenses. (2) Based on estimated amounts for the current fiscal year. (3) Acquired Fund Fees and Expenses are indirect fees and expenses that the Fund incurs from investing in the shares of other investment companies Expense Example This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then hold or redeem all of your Shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same. The Example does not take into account brokerage commissions that you may pay on your purchases and sales of Shares. Although your actual costs may be higher or lower, based on these assumptions your costs would be: 1 Year 3 Years $84 $262 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 Shares are held in a taxable account. These costs, which are not reflected in total annual fund operating expenses or in the Example, affect the Fund's performance. Because the Fund is newly organized, portfolio turnover information is not yet available. Principal Investment Strategies The Fund, an actively-managed exchange-traded fund ("ETF"), seeks to achieve its investment objective by dynamically allocating across multiple asset classes based on systematic trend-following and momentum-driven signals. The term "pareto" is a reference to the "pareto principle," which is a theory that roughly 80% of effects come from 20% of causes, meaning that a small portion of inputs generates the majority of outputs. For the Fund, this term refers to the investment process of the Fund's investment sub-adviser, RCN Wealth Advisors, Inc. (the "Sub-Adviser"). 1 The Sub-Adviser employs a dynamic allocation model that employs a rules-based approach to evaluate the prevailing trend and momentum strength of several major asset classes, including U.S. and international equities (including those located in emerging markets), gold, bitcoin, commodities, U.S. Treasury securities, and U.S. investment grade corporate bonds ( i.e. , generally rated Baa3 or higher by Moody's Investors Service, Inc. ("Moody's"), BBB- or higher by S&P Global Ratings Group, a division of S&P Global Inc. ("S&P"), BBB- or higher by Fitch Ratings, Inc. ("Fitch")) or, if unrated, considered by the Sub-Adviser to be of equivalent quality. The dynamic allocation model's trade signal inputs are human generated. To gain these investment exposures, the Fund will generally invest in other pooled investment veh

View Full Filing

View this 497K filing on SEC EDGAR