IDOG ALPS International Sector Dividend Dogs ETF Update | December 31, 2015 YIELD – DOGS THEORY – INTERNATIONAL The ALPS International Sector Dividend Dogs ETF [IDOG] is an Exchange Traded Fund that applies the ‘Dogs of the Dow Theory’ on a sector-by-sector basis using the S-Net Developed Markets (ex-Americas) Index as its starting universe of eligible securities. This strategy provides the following potential benefits: ƒƒ High Dividend Yield Relative to International Large Cap Indices – Starting with a smaller, quality universe such as the S-Net Developed Markets (ex-Americas) Index diminishes the likelihood of troubled and financially distressed companies entering the index and allows dividend yield to be the primary selection criterion for the index. ƒƒ Sector and Stock Diversification – IDOG provides high dividend exposure across all 10 sectors of the market by selecting the five highest yielding securities in each sector and equally weighting them. This provides diversification at both the stock and sector level. ƒƒ Dogs Theory – IDOG isolates the S-Net Developed Markets (ex-Americas) Index constituents with the highest dividend yield in their respective sectors providing the potential for price appreciation as market forces bring their yield into line with the overall market. ETF Stats Ticker: IDOG Underlying Index: IDOGXTR Listing Exchange: NYSE Arca CUSIP: 00162Q 718 Fund Inception: 6/27/2013 Dividends Paid: Quarterly Most Recent Dividend*: $0.1408 Gross Expense Ratio: 0.50% NAV**: $23.67 Shares Outstanding: 5.35 Million * Dividend Paid on 12/31/15 ** As of 12/31/15 Investment Objective The Fund seeks investment results that replicate as closely as possible, before fees and expenses, the performance of the S-Network® International Sector Dividend Dogs Index (the “Underlying Index”). PERFORMANCE as of 12/31/15 Cumulative Since Inception Annualized Since 1 Year Inception1 Total Returns 1 Month 3 Month ALPS International Sector Dividend Dogs ETF (Net Asset Value) -1.77% 2.41% -6.14% 3.96% -6.14% 1.56% ALPS International Sector Dividend Dogs ETF (Market Price)2 -2.27% 1.59% -6.10% 3.26% -6.10% 1.28% MSCI EAFE Index (Benchmark) -1.35% 4.71% -0.81% 11.36% -0.81% 4.37% S-Network International Sector Dividend Dogs NTR Index3 -1.74% 2.55% -5.89% -5.89% IDOG Index Allocations 1.95% YTD ® 4.97% 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 1.866.675.2639 or visit www.alpssectordividenddogs.com 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 6/27/2013. 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® International Sector Dividend Dogs NTR Index (Ticker: IDOGX) is designed to serve as a fair, impartial and transparent measure of the performance of international large cap equities with above average dividend yields. 1 2 Consumer Staples - 10.24% Materials - 10.15% Financials - 10.11% Utilities - 10.10% Health Care - 10.08% Telecommunication Services - 10.03% Energy - 9.91% Consumer Discretionary - 9.86% Information Technology - 9.84% Industrials - 9.68% Allocations as of 12/31/15 and are subject to change. www.alpssectordividenddogs.com | 866.675.2639 . ALPS International Sector Dividend Dogs ETF Fund Update | December 31, 2015 IDOG Index Country Allocations WESTERN EUROPE ASIA PACIFIC United Kingdom - 25.77% Portugal - 2.08% Australia - 22.55% France - 8.00% Netherlands - 2.01% Japan - 7.82% Spain - 7.70% Switzerland - 2.01% Singapore - 4.01% Sweden - 4.19% Germany - 1.99% Hong Kong - 2.02% Finland - 4.02% Italy - 1.96% Norway - 3.87% Allocations as of 12/31/15 and are subject to change. INDEX CONSTITUENTS as of 12/31/15 CONSUMER DISCRETIONARY JCNC SP Jardine Cycle & Carriage Ltd MKS LN Marks & Spencer Group plc PSON LN Pearson PLC 1928 HK Sands China Ltd VIV FP Vivendi HEALTH CARE AZN LN AstraZeneca plc GSK LN GlaxoSmithKline plc NOVN VX Novartis AG-Reg SAN FP Sanofi 4502 JP Takeda Pharmaceutical Co Ltd TELECOMMUNICATION SERVICES TEF SM Telefonica SA TEL NO Telenor ASA TLSN SS TeliaSonera AB TLS AU Telstra Corp Ltd VOD LN Vodafone Group plc CONSUMER STAPLES BATS LN British American Tobacco plc IMT LN Imperial Tobacco Group plc ORK NO Orkla ASA WES AU Wesfarmers Ltd WOW AU Woolworths Ltd INDUSTRIALS ABE SM Abertis Infraestructuras SA AZJ AU Aurizon Holdings Ltd BA/ LN BAE Systems plc EN FP Bouygues SA KEP SP Keppel Corp Ltd UTILITIES ENERGY INFORMATION TECHNOLOGY 7751 JP Canon Inc ERICB SS Ericsson LM-B Shs 7752 JP Ricoh Co Ltd SGE LN Sage Group plc/The 8035 JP Tokyo Electron Ltd BP/ LN ENI IM REP SM RDSA NA WPL AU BP Plc Eni SpA Repsol SA Royal Dutch Shell plc-A Shs Woodside Petroleum Ltd FINANCIALS ANZ AU Aust and NZ Banking Group SAN SM Banco Santander SA NAB AU National Australia Bank Ltd SUN AU Suncorp Group Ltd WBC AU Westpac Banking Corp CNA LN EDP PL ENGI FP FUM1V FH SSE LN Centrica plc EDP-Energias de Portugal SA Engie Fortum Oyj SSE plc Source: Bloomberg Subject to change. MATERIALS AMC AU BAS GR BHP AU RIO AU UPM1V FH Amcor Limited BASF SE BHP Billiton Limited Rio Tinto Ltd UPM-Kymmene Oyj sdog@alpsinc.com | 866.675.2639 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. ALPS International Sector Dividend Dogs ETF Shares are not individually redeemable. Investors buy and sell shares of the ALPS International 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. The S-Net Developed Markets (ex-Americas) Index: The World Bank’s methodology for identifying High Income Countries is based on the country’s gross national income (GNI) per capita. The selection criteria for the universe also includes 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 EAFE Index: a stock market index that is designed to measure the equity market performance of developed markets outside of the U.S. & Canada. ALPS Portfolio Solutions Distributor, Inc.

is the distributor for the ALPS International Sector Dividend Dogs ETF. DOG000361 4/30/16 .