What s Inside. Sector Analysis. Constituent Analysis. Distribution Analysis. Performance as of 12/31/17

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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**: $25.40 Shares Outstanding: 1,950,000 * Dividend Paid on 12/28/17 ** As of 12/31/17 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 December 31, 2017 At the conclusion of Q4 2017, the ALPS Emerging Sector Dividend Dogs ETF (EDOG) closed at $25.40, up 4.03% for the quarter. This trailed the MSCI Emerging Markets Index s gain of 7.44%. Sector Analysis The top performing sector in EDOG in Q was Consumer Discretionary (+12.92%), followed by Health Care (+12.13%). The worst performing sector for the fund was Telecom (-1.19%), followed by Industrials (-0.30%). Constituent Analysis For the quarter, total return was positive for 49 names, flat for 2 names, and negative for 25. The top performing security was Life Healthcare Group Holdings (LHC SJ) which posted a return of %, while the worst performer was Megafon REG S GDR (MFON LI) which had a return of % for the quarter. Distribution Analysis As of December 30, 2017, the S-Network Emerging Sector Dividend Dogs Index had a TTM dividend yield of 4.82% relative to 4.30% on September 30, Performance as of 12/31/17 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) 4.03% 9.16% 19.85% 15.67% 19.85% 4.62% 3.94% Contact Info sdog@alpsinc.com ALPS Emerging Sector Dividend Dogs ETF (Market Price) % 8.62% 19.59% 15.57% 19.59% 4.79% 3.92% MSCI EM TR Net Index (Benchmark) 7.44% 15.92% 37.28% 30.13% 37.28% 9.10% 7.25% S-Network Emerging Sector Dividend Dogs NTR Index % 9.75% 20.84% 19.84% 20.84% 5.59% 4.93% 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 12/29/17 High $25.40 $25 1/03/17 Low $21.84 $20 12/31/16 1/31/17 2/28/17 3/31/17 4/30/17 5/31/17 6/30/17 7/31/17 8/31/17 9/30/17 10/31/17 11/30/17 12/31/17 EDOG NAV 50 Day Moving Average 100 Day Moving Average * Source: Bloomberg NAV returns as of 12/31/17. Past performance is not indicative of future results. Index Characteristics Fundamentals & Risk EDOGX MXEF Profile EDOGX MXEF Price to Earnings Ratio Dividend Yield 4.82% 2.49% Price to Earnings Ratio using FY1 Est Max Market Cap (Million $) $53,662 $493,328 Price to Earnings Ratio using FY2 Est Min Market Cap (Million $) $2,782 $815 Price to Book Ratio Total Market Cap (Agg, Million $) $552,643 $13,279,444 Price to Sales Ratio Weighted Avg. Market Cap (Agg, Million $) $10,814 $100,231 Price to Cash Flow Ratio Market Cap Breakdown EDOGX MXEF Beta (vs. MSCI EM) 0.90 Large Cap 27.71% 75.97% Volatility 18.12% 15.65% Mid Cap 72.29% 23.32% Small Cap 0.00% 0.72% Bloomberg Data as of 12/31/17. Beta is to the MSCI Emerging Markets Index.

3 Allocations Geography Sector Market Cap Asia Pacific 38.62% China 9.60% Thailand 9.49% Indonesia 7.90% Malaysia 7.84% Philippines 3.80% Eastern Europe 25.76% Turkey 9.98% Russia 9.76% Hungary 2.05% Poland 1.99% Czech Republic 1.97% South & Central America 14.37% Brazil 9.73% Chile 4.64% Africa / Middle East 11.49% South Africa 11.49% Central Asia 6.12% India 6.12% North America 3.64% Mexico 3.64% Health Care 10.54% Consumer Staples 10.35% Materials 10.25% Financials 10.11% Utilities 10.05% Consumer Discretionary 9.93% Telecommunication Services 9.92% Industrials 9.75% Energy 9.63% Information Technology 9.47% Large Cap 27.71% Mid Cap 72.29% Small Cap 0.00% Sector Attribution - Q During Q4 2017, overall sector allocation effect was positive. Its largest positive effect came from the fund s relative overweight to Healthcare while the largest negative effect came from a relative overweight to Utilities. Selection effect also contributed to the fund s relative underperformance for the period, with the biggest gains coming from names in Consumer Discretionary, and the biggest losses coming from Financials. EDOG Avg % Wgt Contribution to Return Total Return MSCI EAFE +/- EDOG MSCI EAFE +/- EDOG MSCI EAFE +/- Allocation Effect Selection Effect Consumer Discretionary 9.80% 10.27% -0.48% 1.26% 0.89% 0.37% 12.92% 8.72% 4.20% -0.03% 0.60% Consumer Staples 10.00% 6.35% 3.65% 0.43% 0.51% -0.09% 4.00% 7.99% -3.99% 0.10% -0.47% Energy 10.20% 6.80% 3.40% 0.29% 0.53% -0.24% 2.94% 7.80% -4.86% 0.06% -0.42% Financials 9.76% 23.20% % 0.41% 1.88% -1.46% 4.05% 8.06% -4.01% -0.17% -0.57% Health Care 9.94% 2.42% 7.53% 1.19% 0.39% 0.80% 12.13% 16.57% -4.44% 0.60% -0.52% Industrials 9.77% 5.40% 4.36% 0.01% 0.26% -0.25% -0.30% 4.82% -5.12% -0.17% -0.22% Information Technology 10.00% 28.26% % 0.03% 1.98% -1.95% 0.29% 7.06% -6.77% 0.16% -0.38% Materials 10.28% 7.18% 3.08% 1.00% 0.62% 0.38% 10.16% 8.63% 1.53% 0.04% 0.44% Real Estate 0.00% 2.79% -2.77% -0.02% 0.09% -0.11% 0.00% 3.11% -3.11% 0.11% -0.02% Telecommunication Services 10.03% 4.87% 5.16% -0.13% 0.15% -0.28% -1.19% 3.03% -4.22% -0.16% -0.56% Utilities 10.22% 2.46% 7.76% 0.00% 0.03% -0.03% 0.09% 1.19% -1.11% -0.45% -0.22% Totals 0.09% -2.34% 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 and Eastern Europe regions. Overall, currency effect contributed negatively to the fund for the quarter, decreasing fund performance by 61 basis points. Constituent Analysis Total Return Dispersion - Q LIFE HEALTHCARE GROUP HOLDIN (LHC SJ) IMPERIAL HOLDINGS LTD (IPL SJ) (-) EREGLI DEMIR VE CELIK FABRIK (EREGL TI) BARCLAYS AFRICA GROUP LTD (BGA SJ) (+) WOOLWORTHS HOLDINGS LTD (WHL SJ) (+) GUDANG GARAM TBK PT (GGRM IJ) (-) CEZ AS (CEZ CP) NETCARE LTD (NTC SJ) SIME DARBY BERHAD (SIME MK) (-) INFOSYS LTD-SP ADR (INFY US) PHOSAGRO PJSC-GDR REG S (PHOR LI) (-) TRUWORTHS INTERNATIONAL LTD (TRU SJ) (-) VEDANTA LTD-ADR (VEDL US) (+) LUKOIL PJSC-SPON ADR (LKOD LI) AVI LTD (AVI SJ) (+) CENCOSUD SA (CENCOSUD CI) (+) SURYA CITRA MEDIA PT TBK (SCMA IJ) (-) MTN GROUP LTD (MTN SJ) (-) MALAYAN BANKING BHD (MAY MK) FLEURY SA (FLRY3 BZ) (+) FIBRIA CELULOSE SA-SPON ADR (FBR US) (-) IRPC PCL (IRPC TB) (-) SEMIRARA MINING AND POWER CO (SCC PM) (+) BANK PEKAO SA (PEO PW) YANGZIJIANG SHIPBUILDING (YZJSGD SP) (-) TURKCELL ILETISIM HIZMET-ADR (TKC US) (+) INDOCEMENT TUNGGAL PRAKARSA (INTP IJ) (+) RICHTER GEDEON NYRT (RICHT HB) GAZPROM PAO -SPON ADR (OGZD LI) DR. REDDY'S LABORATORIES-ADR (RDY US) (-) ALMACENES EXITO SA (EXITO CB) (-) ENKA INSAAT VE SANAYI AS (ENKAI TI) (+) LENOVO GROUP LTD (992 HK) MISC BHD (MISC MK) (+) COSCO SHIPPING ENERGY TRAN-H (1138 HK) (+) CIELO SA (CIEL3 BZ) GRUPO FIN SANTANDER-ADR B (BSMX US) (+) FORD OTOMOTIV SANAYI AS (FROTO TI) (+) HUANENG POWER INTL-SPONS ADR (HNP US) YTL POWER INTERNATIONAL BHD (YTLP MK) (-) MOBILE TELESYSTEMS-SP ADR (MBT US) KALBE FARMA TBK PT (KLBF IJ) THAI OIL PCL (TOP TB) (+) AES GENER SA (AESGENER CI) (+) PLDT INC-SPON ADR (PHI US) (+) TOFAS TURK OTOMOBIL FABRIKA (TOASO TI) (-) GREAT WALL MOTOR COMPANY-H (2333 HK) (+) ASTRA INTERNATIONAL TBK PT (ASII IJ) (+) ENGIE BRASIL ENERGIA SA (EGIE3 BZ) (+) SEVERSTAL - GDR REG S (SVJTY US) INTOUCH HOLDINGS PCL-NVDR (INTUCH-R TB) SINOPEC SHANGHAI PETROCHEM-H (338 HK) (+) ADVANCED INFO SERVICE PCL (ADVANC TB) (-) BTS GROUP HOLDINGS PCL (BTS TB) ASTRO MALAYSIA HOLDINGS BHD (ASTRO MK) CHAROEN POKPHAND FOODS PUB (CPF TB) (+) PERUSAHAAN GAS NEGARA PERSER (PGAS IJ) (+) TERNIUM SA-SPONSORED ADR (TX US) (-) SEMEN INDONESIA PERSERO TBK (SMGR IJ) (-) BRITISH AMERICAN TOBACCO BHD (ROTH MK) WIPRO LTD-ADR (WIT US) SIME DARBY PLANTATION BHD (SDPL MK) TURK SISE VE CAM FABRIKALARI (SISE TI) (-) CP POKPHAND CO LTD (43 HK) (-) BB SEGURIDADE PARTICIPACOES (BBSE3 BZ) POWSZECHNY ZAKLAD UBEZPIECZE (PZU PW) (-) KOMERCNI BANKA AS (KOMB CP) (-) TUPRAS-TURKIYE PETROL RAFINE (TUPRS TI) SIME DARBY PROPERTY BHD (SDPR MK) AGUAS ANDINAS SA-A (AGUAS/A CI) (-) HUADIAN POWER INTL CORP-H (1071 HK) (-) CCR SA (CCRO3 BZ) POLSKIE GORNICTWO NAFTOWE I (PGN PW) (-) KIMBERLY-CLARK DE MEXICO-A (KIMBERA MM) DELTA ELECTRONICS THAI PCL (DELTA TB) MEGAFON-REG S GDR (MFON LI) % Average Weight Contribution to Return (%) Total Return (%) Total EDOG MXEF +/- EDOG MXEF +/- EDOG MXEF +/- Attribution (Alpha) (%) Allocation Effect (%) -20% -10% 0% 10% 20% 30% (+) = added at 12/15/17 rebalance (-) = removed at 12/15/17 rebalance Past performance is not indicative of future results. Subject to change. Selection Effect (%) Currency Effect (%) Africa / Middle East 9.80% 7.76% 2.04% 2.75% 1.31% 1.44% 28.95% 17.30% 11.65% 1.39% 0.06% 0.94% 0.39% Asia Pacific 38.44% 64.45% % 0.59% 4.95% -4.36% 1.47% 7.73% -6.26% -3.03% 0.04% -2.23% -0.85% Central Asia 6.13% 8.69% -2.56% 0.52% 0.99% -0.47% 8.47% 11.63% -3.16% -0.33% -0.08% -0.03% -0.21% Eastern Europe 29.49% 6.30% 23.19% 0.68% 0.33% 0.35% 2.85% 5.22% -2.37% -0.85% -0.03% -0.60% -0.22% North America 2.11% 3.40% -1.30% -0.19% -0.28% 0.09% % -7.34% -3.03% 0.13% 0.11% -0.08% 0.10% South & Central America 12.40% 9.10% 3.30% 0.19% -0.02% 0.21% 0.91% -0.15% 1.06% -0.01% 0.01% -0.20% 0.18% Western Europe 1.64% 0.30% 1.33% -0.06% 0.04% -0.10% -3.01% 13.59% % -0.14% 0.07% -0.21% 0.00% Totals -2.84% 0.18% -2.41% -0.61%

5 Dividend Update For the quarter, 15 companies, or 30% of the fund holdings, paid a dividend in Q companies increased their dividend year-overyear 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* 8% S-Net Emerging Sector Dividend Dogs MSCI Emerging Markets 7% 6% 5% 4% 3% 2% 1% 0% Utilities Telecom Materials Financials Energy Cons Stpls 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 /30/18 Learn More