BFOR. Quarterly Scorecard 3rd Quarter 2015 WHAT S INSIDE BARRON S 400 ETF. Want to Own Some of America s Fastest Growing Companies in a Single Share?

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1 SM BARRON S 400 ETF Want to Own Some of America s Fastest Growing Companies in a Single Share? Quarterly Scorecard 3rd Quarter 205 WHAT S INSIDE PERFORMANCE & CHARACTERISTICS ETF Stats Ticker Listing Exchange Cusip NYSE Arca 0062Q726 Inception Date 06/03/203 Net Asset Value $33.23 Last Quarterly Distribution $ Last Payable Date /2/5 Dividends Paid Annually Shares Outstanding 6.45 Million Management Fee 0.65% Other Expenses 0.00% Total Operating Expenses 0.65% Investment Objective The Fund seeks investment results that correspond generally, before fees and expenses, to the performance of the Barron s 400 Index SM (the Underlying Index ). Contact Info barrons400@alpsinc.com At the conclusion of Q3 205, the Barron s 400 ETF () closed at $29.65, down 0.77% for the quarter, beating the S&P 500 s (SPX) loss of 6.44%.. SECTOR ANALYSIS The top performing sector in for Q3 205 was Telecommunication Services (+9.24%). The worst performing sector was Energy (-25.7%), followed by Health Care (-4.79%). CONSTITUENT ANALYSIS For the quarter, total return was positive for 45 underlying names, flat for, and negative for 422. The top performing security was Flotek Industries INC (FTK US), with a return of %, while the worst performer was Triangle Petroleum CORP (TPLM US), which posted a return of %. PERFORMANCE as of 9/30/205 Total Returns Month 3 Month 6 Month YTD Year Since Inception Barron s 400 SM ETF (NAV) 2-0.8% 0.09% 5.46% 5.46% 6.45% 5.20% Barron s 400 SM ETF (Market Price) % -0.03% 5.46% 5.46% 6.52% 5.20% Barron s 400 Index SM (Benchmark) -0.3% 0.23% 5.83% 5.83% 7.9% 6.0% Performance data quoted represents past performance. Past performance does not guarantee future results. Current performance may be higher or lower than actual data quoted. Call or visit for current month end performance. The investment return and principal value of an investment will fluctuate so that an investor s shares, when redeemed, may be worth more or less than their original cost. Fund inception date of 06/03/ NAV is an exchange-traded fund s (ETF) per-share value. The per-share dollar amount of the fund is derived by dividing the total value of all the securities in its portfolio, less any liabilities, by the number of fund shares outstanding. 3 Market Price is based on the midpoint of the bid/ask spread at 4 p.m. ET and does not represent the returns an investor would receive if shares were traded at other times. barrons400etf.com

2 PERFORMANCE Performance Since Inception (NAV) $35 6/23/5 High $34.28 $30 0/3/4 Low $28.3 $25 9/30/4 2/3/4 3/3/5 6/30/5 9/30/5 NAV 50 Day Moving Average 00 Day Moving Average Source: Bloomberg NAV returns as of 9/30/5. Past performance is not indicative of future results. INDEX CHARACTERISTICS Fundamentals & Risk Profile B400 SPX Description B400 SPX Dividend Yield.77% 2.25% Price to Earnings Ratio Max Market Cap (Million $) $ 629,00 629,00 Price to Earnings Ratio using FY Est Min Market Cap (Million $) $ 298,455 Price to Earnings Ratio using FY2 Est Total Market Cap (Agg, Million $) $ 7,7,836 8,632,343 Price to Book Ratio Weighted Avg. Market Cap ( Agg, Million $) $ 8,86 27,954 Price to Sales Ratio Market Cap Breakdown B400 SPX Price to Cash Flow Ratio Large Cap 27.3% 94.86% Beta.03 Mid Cap 35.67% 5.3% Volatility 6.0% 5.34% Small Cap 37.20% 0.0% Bloomberg Data as of 9/30/5. Beta is to the S&P 500 Index.

3 ALLOCATIONS Geography Sector Market Cap U.S % Consumer Discretionary % Financials % Industrials % Information Technology - 5.5% Health Care % Consumer Staples % Energy - 5.5% Materials % Utilities -.87% Telecommunication Services % Large % Mid % Small % Subject to change. SECTOR ATTRIBUTION - Q3 205 Overall, negative attribution on a sector basis was largely due to negative selection effect in Consumer Discretionary, Industrials, and Energy. Avg % Wgt Contribution to Return Total Return Total Allocation Attribution Effect Selection Effect B400 SPX +/- B400 SPX +/- B400 SPX +/- Consumer Discretionary Consumer Staples Energy Financials Health Care Industrials Information Technology Materials Telecommunication Services Utilities Totals Past performance is not indicative of future results. Subject to change. Bloomberg Data as of 9/30/5.

4 CONSTITUENT ANALYSIS - TOP AND BOTTOM 0 Total Return Dispersion - Q3 205 FLOTEK INDUSTRIES INC (FTK (-)) UNIVERSAL INSURANCE HOLDINGS (UVE) SKECHERSA INC-CL A (SKX) BUFFALO WILD WINGS INC (BWLD (-)) AMERCO (UHAL) ALASKA AIR GROUP INC (ALK) INTELIQUENT INC (IQNT) BOFI HOLDING INC (BOFI) ALLEGIANT TRAVEL CO (ALGT) CAMERON INTERNATIONAL CORP (CAM (-)) ZUMIEZ INC (ZUMZ) ATWOOD OCEANICS INC (ATW) ULTRA PETROLEUM CORP (UPL (-)) VASCO DATA SECURITY INTL (VDSI) AMBARELLA INC (AMBA) CENTURY ALUMINUM COMPANY (CENX (-)) US SILICA HOLDINGS INC (SLCA) ABRAXAS PETROLEUM CORP (AXAS (-)) HI-CRUSH PARTNERS LP (HCLP (-)) TRIANGLE PETROLEUM CORP (TPLM (-)) ( ) = removed at 9/8/205 rebalance (+) = added at 9/8/205 rebalance Past performance is not indicative of future results. Subject to change. Bloomberg Data as of 9/30/5.

5 IMPORTANT DISCLOSURES & DEFINITIONS An investor should consider the investment objectives, risks, charges and expenses carefully before investing. To obtain a prospectus, which contain this and other information please contact your financial professional or call Read the prospectus carefully before investing. There are risks involved with investing in ETFs including the loss of money. Barron s 400 ETF Shares are not individually redeemable. Investors buy and sell shares of the Barron s 400 ETF on a secondary market. Only market makers or authorized participants may trade directly with the Fund, typically in blocks of shares. There are risks involved with investing in ETFs including the loss of money. Additional information regarding the risks of this investment is available in the prospectus. The Fund is subject to the additional risks associated with concentrating its investments in companies in the market sector. Diversification does not eliminate the risk of experiencing investment losses. The Barron s 400 Index SM, calculated by NYSE Euronext or its affiliates, measures the performance of a diversified group of U.S. companies selected in part based on fundamentals-related rules-based criteria. The index includes companies that have scored highest according to fundamentals-related rankings calculated by MarketGrader. Additional rules-based screening provides for sector and market cap diversification. The Index has been licensed to MarketGrader Capital LLC for use with the Barron s 400 Index SM. You cannot invest directly in an index. The S&P 500 (Ticker: SPX) is an index of 500 stocks chosen for market size, liquidity and industry grouping among other factors. Tracking error: a measure of how closely a portfolio follows the index to which it is benchmarked. Volatility: A statistical measure of the dispersion of returns for a given security or market index and expressed as a percentage of the stock price, indicating a standard deviation move over the course of a year. Price to earnings ratio: an equity valuation multiple. It is defined as market price per share divided by annual earnings per share. Price to book ratio: a financial ratio used to compare a company s current market price to its book value. Beta: A measure of the volatility, or systematic risk, of a security or a portfolio in comparison to the market as a whole. Dividend yield: a dividend expressed as a percentage of a current share price. Basis point: A unit that is equal to /00th of %, and is used to denote the change in a financial instrument. Price to Cash Flow Ratio: A measure of the market s expectations of a firm s future financial health Price to Sales Ratio: A ratio for valuing a stock relative to its own past performance, other companies or the market itself. ALPS Portfolio Solutions Distributor, Inc. is the distributor for the Barron s 400 ETF barrons400etf.com BAR00038 /3/6