What s Inside. Sector Analysis. Constituent Analysis. Distribution Analysis. Performance as of 6/30/17

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1 ALPS EMERGING SECTOR DIVIDEND DOGS ETF QUARTERLY SCORECARD EDOG ETF Stats Ticker: Underlying Index: Listing Exchange: EDOG EDOGXTR NYSE Arca CUSIP: 00162Q 668 Fund Inception: 3/27/14 Dividends Paid: Quarterly Most Recent Dividend*: Gross Expense Ratio: 0.60% NAV**: $23.58 Shares Outstanding: 1,900,000 * Dividend Paid on 6/28/17 ** As of 6/30/17 Investment Objective The Fund seeks investment results that replicate as closely as possible, before fees and expenses, the performance of the S-Network Emerging Sector Dividend Dogs Index (the Index ). What s Inside Performance, Characteristics and Allocations June 30, 2017 At the conclusion of Q2 2017, the ALPS Emerging Sector Dividend Dogs ETF (EDOG) closed at $23.58, up 2.89% for the quarter. This trailed the MSCI Emerging Markets Index s gain of 6.27%. Sector Analysis The top performing sector in EDOG in Q was Materials (+13.02%), followed by Financials (+12.84%). The worst performing sector for the fund was Telecommunication Services (-8.78%), followed by Consumer Discretionary (-1.76%). Constituent Analysis For the quarter, total return was positive for 30 names and negative for 20. The top performing security was Powszechny Zaklad Ubezpiecze (PZU PW) which posted a return of %, while the worst performer was Mobile Telesystems SP ADR (MBT US) which had a return of % for the quarter. Distribution Analysis As of June 30, 2017, the S-Network Emerging Sector Dividend Dogs Index had a TTM dividend yield of 4.68% relative to 4.80% on March 31, Performance as of 6/30/17 Cumulative Annualized Total Returns 3 Mo. 6 Mo. YTD S.I. 1 Yr. 3 Yr. S.I. 1 ALPS Emerging Sector Dividend Dogs ETF (Net Asset Value) 2.89% 9.79% 9.79% 5.96% 12.40% -1.02% 1.79% Contact Info sdog@alpsinc.com ALPS Emerging Sector Dividend Dogs ETF (Market Price) % 10.10% 10.10% 6.41% 12.04% -0.97% 1.92% MSCI EM TR Net Index (Benchmark) 6.27% 18.43% 18.43% 12.26% 23.75% 1.07% 3.61% S-Network Emerging Sector Dividend Dogs NTR Index % 10.11% 10.11% 9.19% 13.12% -0.14% 2.73% 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. 1 Fund inception date of 3/27/ 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. 3 The S-Network Emerging Sector Dividend Dogs Index (Ticker: EDOGX) is a portfolio of stocks derived from a universe of mainly large capitalization stocks domiciled in emerging markets (the S-Network Emerging Markets Index SNEMX ). One cannot invest directly in an index. Learn More

2 Performance EDOG 1 Year Performance (NAV) $30 $25 5/16/17 High $24.34 $20 11/18/16 Low $20.92 $15 6/30/16 7/31/16 8/31/16 9/30/16 10/31/16 11/30/16 12/31/16 1/31/17 2/28/17 3/31/17 4/30/17 5/31/17 6/30/17 EDOG NAV 50 Day Moving Average 100 Day Moving Average * Source: Bloomberg NAV returns as of 6/30/17. Past performance is not indicative of future results. Index Characteristics Fundamentals & Risk EDOGX MXEF Profile EDOGX MXEF Price to Earnings Ratio Dividend Yield 4.68% 2.36% Price to Earnings Ratio using FY1 Est Max Market Cap (Million $) $47,433 $360,866 Price to Earnings Ratio using FY2 Est Min Market Cap (Million $) $1,850 $725 Price to Book Ratio Total Market Cap (Agg, Million $) $481,902 $11,472,971 Price to Sales Ratio Weighted Avg. Market Cap (Agg, Million $) $9,485 $ 76,522 Price to Cash Flow Ratio Market Cap Breakdown EDOGX MXEF Beta (vs. MSCI EM) 0.88 Large Cap 28.29% 72.33% Volatility 16.82% 16.18% Mid Cap 69.84% 26.31% Small Cap 1.87% 1.36% Bloomberg Data as of 6/30/17. Beta is to the MSCI Emerging Markets Index.

3 Allocations Geography Sector Market Cap Asia Pacific 38.12% Thailand 10.24% Malaysia 9.92% Indonesia 8.27% China 7.82% Hong Kong 1.87% Eastern Europe 29.60% Russia 9.48% Turkey 8.25% Poland 5.96% Czech Republic 3.85% Hungary 2.06% South & Central America 12.00% Brazil 8.01% Chile 2.09% Columbia 1.90% Africa / Middle East 9.94% South Africa 9.94% Central Asia 6.13% India 6.13% Western Europe 2.17% Luxembourg 2.17% North America 2.04% Mexico 2.04% Sector Attribution - Q Materials 10.34% Energy 10.25% Health Care 10.24% Information Technology 10.05% Industrials 9.99% Financials 9.94% Consumer Discretionary 9.86% Consumer Staples 9.82% Utilities 9.78% Telecommunication Services 9.73% Large Cap 28.29% Mid Cap 69.84% Small Cap 1.87% During Q2 2017, sector allocation effect detracted from fund performance, with its largest positive effect coming from the fund s relative underweight to Financials; the largest negative effect came from a relative underweight to Information Technology. Selection effect also contributed to the fund s relative underperformance for the period, with the biggest gains coming from names in Materials and Energy, and the biggest losses coming from Information Technology and Telecommunication Services. EDOG Avg % Wgt Contribution to Return Total Return MSCI EAFE +/- EDOG MSCI EAFE +/- EDOG MSCI EAFE +/- Allocation Effect Selection Effect Consumer Discretionary 9.61% 10.66% -1.05% -0.18% 0.87% -1.05% -1.76% 8.23% -9.99% -0.01% -1.18% Consumer Staples 9.90% 6.93% 2.98% -0.07% 0.34% -0.41% -0.60% 4.79% -5.40% -0.04% -0.61% Energy 10.08% 7.00% 3.08% 0.44% -0.36% 0.80% 4.30% -5.06% 9.36% -0.33% 0.60% Financials 10.44% 23.79% % 1.25% 0.90% 0.36% 12.84% 3.74% 9.10% 0.31% 0.37% Health Care 9.56% 2.37% 7.20% 0.49% 0.10% 0.39% 5.09% 4.16% 0.92% -0.17% -0.14% Industrials 10.18% 5.80% 4.38% 0.50% 0.18% 0.32% 5.00% 3.01% 1.99% -0.12% 0.04% Information Technology 10.04% 25.47% % -0.14% 3.74% -3.88% -1.35% 15.33% % -1.43% -1.64% Materials 10.23% 7.18% 3.05% 1.27% -0.06% 1.33% 13.02% -0.78% 13.80% -0.20% 1.25% Real Estate 0.00% 2.60% -2.60% 0.00% 0.28% -0.28% 0.00% 11.28% % -0.12% 0.00% Telecommunication Services 9.94% 5.51% 4.43% -0.93% 0.11% -1.04% -8.78% 1.92% % -0.22% -1.19% Utilities 10.02% 2.70% 7.33% 0.53% -0.06% 0.59% 5.39% -1.91% 7.30% -0.58% 0.44% Totals -2.91% -2.06% Past performance is not indicative of future results. Subject to change.

4 Region Attribution - Q From a region perspective, the fund s relative underperformance was largely driven by adverse impacts from security selection in the Asia Pacific region, and a relative overweight to Eastern Europe. Overall, currency effect contributed positively to fund performance for the quarter, adding 209 basis points to the fund s performance. Constituent Analysis Total Return Dispersion - Q POWSZECHNY ZAKLAD UBEZPIECZE (PZU PW) EREGLI DEMIR VE CELIK FABRIK (EREGL TI) TUPRAS-TURKIYE PETROL RAFINE (TUPRS TI) GUDANG GARAM TBK PT (GGRM IJ) TURK SISE VE CAM FABRIKALARI (SISE TI) RICHTER GEDEON NYRT (RICHT HB) MALAYAN BANKING BHD (MAY MK) SEMEN INDONESIA PERSERO TBK (SMGR IJ) POLSKIE GORNICTWO NAFTOWE I (PGN PW) FIBRIA CELULOSE SA-SPON ADR (FBR US) TOFAS TURK OTOMOBIL FABRIKA (TOASO TI) TERNIUM SA-SPONSORED ADR (TX US) KOMERCNI BANKA AS (KOMB CP) HUANENG POWER INTL-SPONS ADR (HNP US) YANGZIJIANG SHIPBUILDING (YZJSGD SP) CEZ AS (CEZ CP) BANK PEKAO SA (PEO PW) KALBE FARMA TBK PT (KLBF IJ) INTOUCH HOLDINGS PCL-NVDR (INTUCH-R TB) SIME DARBY BERHAD (SIME MK) IRPC PCL (IRPC TB) DOCTOR REDDY'S LAB-ADR (RDY US) HUADIAN POWER INTL CORP-H (1071 HK) AGUAS ANDINAS SA-A (AGUAS/A CI) ADVANCED INFO SERVICE PCL (ADVANC TB) NETCARE LTD (NTC SJ) BTS GROUP HOLDINGS PCL (BTS TB) WIPRO LTD-ADR (WIT US) CIELO SA (CIEL3 BZ) DELTA ELECTRONICS THAI PCL (DELTA TB) IMPERIAL HOLDINGS LTD (IPL SJ) KIMBERLY-CLARK DE MEXICO-A (KIMBERA MM) BRITISH AMERICAN TOBACCO BHD (ROTH MK) YTL POWER INTERNATIONAL BHD (YTLP MK) ASTRO MALAYSIA HOLDINGS BHD (ASTRO MK) INFOSYS LTD-SP ADR (INFY US) SURYA CITRA MEDIA PT TBK (SCMA IJ) LENOVO GROUP LTD (992 HK) MTN GROUP LTD (MTN SJ) ALMACENES EXITO SA (EXITO CB) BB SEGURIDADE PARTICIPACOES (BBSE3 BZ) LUKOIL PJSC-SPON ADR (LKOD LI) PHOSAGRO PJSC-GDR REG S (PHOR LI) LIFE HEALTHCARE GROUP HOLDIN (LHC SJ) CCR SA (CCRO3 BZ) GAZPROM PAO -SPON ADR (OGZD LI) CP POKPHAND CO LTD (43 HK) TRUWORTHS INTERNATIONAL LTD (TRU SJ) MEGAFON-REG S GDR (MFON LI) MOBILE TELESYSTEMS-SP ADR (MBT US) % Average Weight Contribution to Return (%) Total Return (%) Total EDOG MXEF +/- EDOG MXEF +/- EDOG MXEF +/- Attribution (Alpha) (%) Allocation Effect (%) Selection Effect (%) -40% -30% -20% -10% 0% 10% 20% 30% 40% 50% Currency Effect (%) Africa / Middle East 8.95% 8.32% 0.63% -0.47% 0.17% -0.64% -5.34% 1.79% -7.12% -0.72% -0.04% -0.70% 0.03% Asia Pacific 38.30% 62.90% % 1.49% 5.70% -4.21% 3.94% 9.21% -5.27% -2.60% -0.82% -2.69% 0.91% Central Asia 5.82% 8.93% -3.11% 0.06% 0.23% -0.17% 0.97% 2.65% -1.68% 0.03% 0.14% -0.08% -0.03% Eastern Europe 30.83% 6.43% 24.40% 1.94% 0.09% 1.85% 6.42% 1.25% 5.17% 0.28% -1.44% 0.45% 1.27% North America 2.08% 3.93% -1.85% -0.03% 0.34% -0.37% -1.51% 8.62% % -0.25% 0.02% -0.22% -0.05% South & Central America 12.08% 9.13% 2.95% -0.05% -0.60% 0.55% -0.38% -6.24% 5.87% 0.37% -0.21% 0.58% -0.01% Western Europe 1.93% 0.36% 1.56% 0.23% 0.11% 0.12% 12.10% 34.37% % 0.02% 0.28% -0.23% -0.03% Totals -2.87% -2.07% -2.89% 2.09% Past performance is not indicative of future results. Subject to change.

5 Dividend Update Of the 50 EDOG constituents, 29 companies, or 48% of the fund holdings, paid a dividend in Q Of those 29 companies, 5 pay dividends on a quarterly schedule, 10 pay on a semi-annual schedule, one pays on an irregular schedule, and 13 pay on an annual schedule. 10 companies increased their dividend year-over-year from Q Trailing Twelve Month Anticipated Div. Increases/Decreases Year/Year Dividend Increases Increases Decreases Q Q Q Q Payers by Quarter Q Q Q Q Past performance is not indicative of future results. # of Payers Increasing Dividend Year/Year Payers by Quarter Year/Year Dividend Increases Q Q Q Q Sector Yield Breakdown The S-Networks Emerging Sector Dividend Dogs Index s use of yield analysis on a sector-by-sector basis as its primary screen continues to provide meaningfully higher yield compared to its broad based benchmark across the 10 GICS Sectors, ex Real Estate. TTM Yield* 9% S-Net Emerging Sector Dividend Dogs MSCI Emerging Markets 8% 7% 6% 5% 4% 3% 2% 1% 0% Utilities Telecom Financials Energy Cons Stpls Materials Cons Disc Industrials Info Tech Health Care Real Estate Total * Excluding special dividends. Past performance is not indicative of future results.

6 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 call or visit Read the prospectus carefully before investing. ALPS Emerging Sector Dividend Dogs ETF Shares are not individually redeemable. Investors buy and sell shares of the ALPS Emerging Sector Dividend Dogs ETF on a secondary market. Only market makers or authorized participants may trade directly with the Fund, typically in blocks of 50,000 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 Fund s investments in non-u.s. issuers may involve unique risks compared to investing in securities of U.S. issuers, including, among others, greater market volatility than U.S. securities and less complete financial information than for U.S. issuers. In addition, adverse political, economic or social developments could undermine the value of the Fund s investments or prevent the Fund from realizing the full value of its investments. Financial reporting standards for companies based in foreign markets differ from those in the United States. Finally, the value of the currency of the country in which the Fund has invested could decline relative to the value of the U.S. dollar, which may affect the value of the investment to U.S. investors. An investor cannot invest directly in an index. Investing in emerging markets accentuates these risks. The S-Network Emerging Sector Dividend Dogs Index (Ticker: EDOGX) is a portfolio of stocks derived from a universe of mainly large capitalization stocks domiciled in emerging markets (the S-Network Emerging Markets Index SNEMX ). The EDOGX methodology selects the five stocks in each of the ten GICS sectors that make up the universe which offer the highest dividend yields as of the last trading day of November. The fifty stocks that are selected for inclusion in the portfolio are equally weighted. The universe includes stocks whose domicile and primary exchange listings are in countries identified by the World Bank as Upper Middle Income (certain lower middle income countries are also included, as well as stocks traded on the Taiwan Stock Exchange despite non-recognition by the World Bank). The selection criteria for the universe, in addition to the aforementioned country qualifications, also include requirements for sector inclusion, primary exchange listing, minimum market capitalization, share price, average daily trading volume and other factors. Dogs of the Dow Theory: an investment strategy which proposes that an investor annually select for investment the ten Dow Jones Industrial Average stocks whose dividend is the highest fraction of their price. MSCI EM TR Net Index: a free float-adjusted market capitalization index that is designed to measure equity market performance in the global emerging markets. ALPS Portfolio Solutions Distributor, Inc. is the distributor for the ALPS Emerging Sector Dividend Dogs ETF. DOG /31/17 Learn More