COHEN & STEERS GLOBAL REALTY MAJORS ETF QUARTERLY SCORECARD GRI ETF Stats Ticker: GRI CUSIP: 00162Q 106 NAV per Share^: $41.94 Number of Holdings: 75 Dividend Freqency: Quarterly Gross Expense Ratio: 0.55% ^ NAV as of 12/31/16 Investment Objective Cohen & Steers Global Realty Majors ETF (GRI) seeks investment results that correspond generally to the performance, before fees and expenses, of the Cohen & Steers Global Realty Majors Index. What s Inside Performance, Characteristics and Allocations December 31, 2016 At the conclusion of Q4 2016, Cohen & Steers Global Realty Majors ETF (GRI) closed at $41.94, down -5.72% for the quarter. As of 12/30/16, the Cohen & Steers Global Realty Majors Index (GRM) had a trailing twelve month yield of 3.91%. Geographic Analysis For the top 5 weighted country allocations in GRI, real estate securities in Hong Kong and Japan provided investors the best opportunity to capture additional yield in excess of the respective 10 year government bond rates in each country (2.78% and 3.19%, respectively). Australia and the United States offered the lowest spreads between yields of their real estate and their 10 year government bond rates (1.83% and 2.05%, respectively). Constituent Analysis For the quarter, total return was positive for 18 names and negative for 58 names. The best performer was Host Hotels & Resorts INC (HST US) which saw a Q4 gain of 22.63%. The worst performer was China Overseas Land & Invest (688 HK) which fell -21.88% in Q4. Performance as of 12/31/16 Average Annual Total Returns Three Month Six Month YTD One Year Five Year Cumulative Since Inception 1 Since Inception (5/9/08) 1 GRI NAV 1-5.72% -4.98% 1.74% 1.74% 9.07% 19.24% 2.05% GRI Market Price 2-6.46% -5.51% 1.54% 1.54% 8.98% 18.67% 2.00% Cohen & Steers Global Realty Majors Portfolio Index -5.59% -4.70% 2.49% 2.49% 9.88% 27.76% 2.87% FTSE EPRA/NAREIT Developed Real Estate Index -5.39% -4.02% 4.99% 4.99% 10.33% 30.62% 3.14% S&P 500 Index 3.82% 7.82% 11.96% 11.96% 14.66% 94.24% 7.98% Contact Info www.alpsfunds.com info@alpsetfs.com Performance data quoted represents past performance. Past performance does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor s shares, when sold or redeemed, may be worth more or less than the original cost. Current performance data may be higher or lower than actual data quoted. For most current month-end performance data please call 866.513.5856. 1 Fund inception date of 5/09/2008. 2 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. Learn More 866.513.5856 alpsfunds.com
Performance GRI 1 Year Performance (NAV) $50 8/1/16 High $47.2624 $45 $40 2/12/16 Low $38.2741 $35 12/31/15 1/31/16 2/29/16 3/31/16 4/30/16 5/31/16 6/30/16 7/31/16 8/31/16 9/30/16 10/31/16 11/30/16 12/31/16 GRI NAV Index Characteristics 50 Day Moving Average 100 Day Moving Average Fundamentals & Risk Description Value Price/FFO 21.05 Debt/Equity 52.00 Beta* 0.70 Volatility* 12.81% Bloomberg Data as of 12/31/16. Beta is to the S&P 500 Index. Allocations Profile Dividend Yield 3.91% Max Market Cap (Million $) $55,830 Min Market Cap (Million $) $1,879 Total Market Cap (Agg, Million $) $958,018 Weighted Avg. Market Cap (Agg, Million $) $19,003 Market Cap Breakdown Large Cap 74.76% Mid Cap 25.24% Small Cap 0.00% Geography Sector Market Cap North America 54.38% United States 53.17% Canada 1.21% Asia Pacific 31.02% Japan 10.92% Hong Kong 8.59% Australia 8.20% Singapore 1.96% China 1.36% Europe 14.36% United Kingdom 4.24% Germany 4.07% Netherlands 2.88% France 1.67% Spain 0.63% Sweden 0.46% Switzerland 0.42% Diversified 28.3% Retail 25.9% Residential 14.8% Office 10.7% Health Care 7.2% Industrial 5.3% Self Storage 5.2% Hotel 1.7% Industrial Office 0.8% Large Cap (>$10B) 74.76% Mid Cap ($2-$10B) 25.24% Small Cap (<$2B) 0.00% Latin America 0.24% Brazil 0.24% Subject to change.
Distribution Review Q4 2016 saw 35 GRI constituents, or 76% of the 46 fund holdings that went ex over the period, increase their distributions. Of the 46 underlying holdings that went ex, 10 pay on a semi-annual schedule, 31 pay on a quarterly basis, 5 pay on a monthly basis. Underlying Constituent Distribution Activity (%) Increase Decrease Unch 50% 40% 30% 20% 10% 0% Q4 2014* Q3 2016 Q2 2016 Q1 2016 *Excludes securities with estimated dividend gross amounts Yield Spread Analysis REIT Yield 10 Year Govt. Rates 5% 4% 3% 2% 1% 0% United States Japan Hong Kong Australia United Kingdom Bloomberg data as of 12/31/2016.
Constituent Analysis Top/Bottom 10 Constituent Dispersion HOST HOTELS & RESORTS INC (HST US) MITSUI FUDOSAN CO LTD (8801 JP) KILROY REALTY CORP (KRC US) MITSUBISHI ESTATE CO LTD (8802 JP) ESSEX PROPERTY TRUST INC (ESS US) SUMITOMO REALTY & DEVELOPMEN (8830 JP) VORNADO REALTY TRUST (VNO US) ALEXANDRIA REAL ESTATE EQUIT (ARE US) UDR INC (UDR US) DIGITAL REALTY TRUST INC (DLR US) VONOVIA SE (VNA GR) CITY DEVELOPMENTS LTD (CIT SP) SUN HUNG KAI PROPERTIES (16 HK) KLEPIERRE (LI FP) ASCENDAS REAL ESTATE INV TRT (AREIT SP) CHEUNG KONG PROPERTY HOLDING (1113 HK) CAPITALAND MALL TRUST (CT SP) JAPAN RETAIL FUND INVESTMENT (8953 JP) LEG IMMOBILIEN AG (LEG GR) CHINA OVERSEAS LAND & INVEST (688 HK) -25-20 -15-10 -5 0 5 10 15 20 25 Past performance is not indicative of future results. Subject to change.
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 866.675.2639 or visit www.alpsfunds.com. Read the prospectus carefully before investing. Cohen & Steers Global Realty ETF Shares are not individually redeemable. Investors buy and sell shares of the Cohen & Steers Global Realty 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 Cohen & Steers Global Realty ETF is a new product with a limited operating history. 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. MSCI EM TR Net Index (Ticker: MXEF) is a free float-adjusted market capitalization index that is designed to measure equity market performance in the global emerging markets. 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. Downside risk: the probability that an asset will fall in price. It is also the measure of the possible loss from that decline. Tracking error: a measure of how closely a portfolio follows the index to which it is benchmarked. Sharpe ratio: a measure that indicates the average return minus the risk-free return divided by the standard deviation of return on an investment. Information ratio: a ratio of portfolio returns above the returns of a benchmark (usually an index) to the volatility of those returns. 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 1/100th of 1%, and is used to denote the change in a financial instrument. ALPS Portfolio Solutions Distributor, Inc. is the distributor for the Cohen & Steers Global Realty ETF GRI000282 4/30/17 Learn More 866.513.5856 alpsfunds.com