Copyright © 2025. Advisors Asset Management, Inc. (AAM). All rights reserved.

AAM is a SEC registered investment advisor and member FINRA / SIPC. Registrant MSRB. Registration does not imply a certain level of skill or training.

* Represents the Unsubsidized Yield. The 30-day SEC Yield for an Exchange-Traded Fund (ETF) is a standardized yield calculation developed by the U.S. Securities and Exchange Commission (SEC) that reflects the income earned by the fund's portfolio over the past 30 days, net of expenses. It is calculated by taking the fund's net investment income, including interest and dividends, and dividing it by the fund's average net assets over the previous 30 days. This yield calculation provides investors with a snapshot of the fund's income-generating potential, taking into account expenses that impact yields, such as management fees and other operating costs. It is calculated by our Fund Administrator, US Bank. The unsubsidized yield figure reflects the dividends and interest earned during the period, after the deduction of the fund’s expenses.

The fund’s investment objectives, risks, charges and expenses must be considered carefully before investing. The statutory and summary prospectus contains this and other important information about the investment company, and it may be obtained by calling 800.617.0004 or visiting www.aamlive.com. Read it carefully before investing.

Risks: Investing involves risk, including the possible loss of principal. Shares of any ETF are bought and sold at market price (not NAV) and may trade at a discount or premium to NAV. Shares are not individually redeemable from the Fund and may be only be acquired or redeemed from the fund in creation units. Brokerage commissions will reduce returns. Companies with high yield or payout ratio may underperform other securities in certain market conditions and reduce or discontinue paying dividends entirely while included in the index. The Fund’s return may not match or achieve a high degree of correlation with the return of the underlying Index. To the extent the Fund utilizes a sampling approach, it may experience tracking error to a greater extent than if the Fund had sought to replicate the Index. Diversification does not assure a profit or protect against a loss in a declining market.

Definitions: Dividend Yield Indicated is the total amount of dividends that would be paid on a share of stock over the next 12 months if each dividend were the same amount as the most recent dividend. The Price/Book (P/BV) ratio is calculated by dividing the current closing price of the stock by the latest quarter’s book value per share. The Price/Cash Flow (P/CF) ratio measures the value of a stock’s price relative to its operating cash flow per share, which adds back non-cash expenses such as depreciation and amortization to net income. P/CF is especially useful for valuing stocks that have positive cash flow but are not profitable because of large non-cash charges. The Price/Earnings ratio (often shortened to the P/E ratio or the PER) is the ratio of a company’s stock price to the company’s earnings per share. The Price/Sales (P/S) ratio is calculated either by dividing the company’s market capitalization by its total sales over a 12-month period, or on a per-share basis by dividing the stock price by sales per share for a 12-month period. The 30-day SEC Dividend Yield is based on the most recent 30-day period covered by the fund’s filings with the SEC. S&P 500 Index is an unmanaged market capitalization weighted index used to measure 500 companies chosen for market size, liquidity and industry grouping, among other factors. The S&P 500 Dividend and Free Cash Flow Yield and S&P Emerging Markets Dividend and Free Cash Flow Yield Indexes are products of S&P Dow Jones Indices LLC or its affiliates (“SPDJI”), and has been licensed for use by Advisors Asset Management, Inc. (AAM). Standard & Poor’s® and S&P® are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by AAM. The S&P 500 Dividend and Free Cash Flow Yield and S&P Emerging Markets Dividend and Free Cash Flow Yield Indexes are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the S&P 500 Dividend and Free Cash Flow Yield and S&P Emerging Markets Dividend and Free Cash Flow Yield Indexes. It is not possible to invest in an index.

Not FDIC Insured • No Bank Guarantee • May Lose Value

 AAM ETFs are distributed by Quasar Distributors, LLC. Quasar and AAM are not affiliated.