DGHM V2000 SmallCap Value Fund

Supplement dated June 25, 2020

To the Prospectus and Statement of Additional Information (“SAI”), each dated June 28, 2019, as previously Supplemented

The Board of Trustees (the “Board”) of World Funds Trust (the “Trust”) has approved a Plan of Liquidation (the “Plan”) for the DGHM V2000 SmallCap Value Fund (the “Fund”), which became effective on June 24, 2020. Dalton, Greiner, Hartman, Maher & Co., LLC (the “Adviser”), recommended that the Board approve the Plan due to a diminished asset base and correspondingly rising expenses of the Fund, which the Adviser has indicated that it is no longer willing to continue to subsidize. As a result, the Board has concluded that it is in the best interest of the Fund’s shareholders to liquidate the Fund. The Fund is expected to liquidate on or about July 24, 2020 (the “Liquidation Date”).

Effective immediately, the Fund is closed to new and subsequent investments. Until the Liquidation Date, Shareholders may continue to reinvest dividends and distributions in the Fund or redeem their shares. Any remaining shareholders on the Liquidation Date will receive a distribution of their remaining investment value in the Fund based on the instructions listed on your account. The sale or liquidation of your shares will generally be a taxable event. You should consult your tax advisor about your tax situation.

As shareholders redeem shares of the Fund between the date of this Supplement and the Liquidation Date, the Fund may not be able to maintain its stated investment goal and other investment policies. Accordingly, the Fund may deviate from its stated investment goal and other investment policies during the period between the date of this Supplement and the Liquidation Date.

If you have questions or need assistance, please contact your financial advisor directly or the Fund toll-free at 1-800-673-0550.

This Supplement and the existing Prospectus provide relevant information for all shareholders and should be retained for future reference. Both the Prospectus and the SAI have been filed with the Securities and Exchange Commission, are incorporated by reference, and can be obtained without charge by calling the Fund toll-free at 1-800-673-0550.

For complete details...

For complete information about the DGHM V2000 SmallCap Value Fund and a document library including reports and applications, please visit the fund website using the link below.

Investors should consider the investment objectives, potential risks, management fees and charges and expenses carefully before investing. Information regarding details is contained in each Fund’s prospectus, which may be obtained on the Fund Website or by calling (800) 673-0550. Please read and carefully consider the prospectus before investing. Distributed by First Dominion Capital Corp., Richmond, VA. Member FINRA.