The S&P Dividend and Free Cash Flow Yield Indexes are a product 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 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 Dividend and Free Cash Flow Yield Indexes. It is not possible to invest in an index.

The fund's investment objectives, risks, charges and expenses must be considered carefully before investing. The prospectus and summary prospectus contains this and other important information about the investment company, or a free, hard-copy may be obtained by calling 800.617.0004. Read it carefully before investing.

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. Investments in foreign securities involve political, economic and currency risks, greater volatility and differences in accounting methods. These risks are greater for emerging markets investments. Investments in mid-cap companies may involve less liquidity and greater volatility than larger companies. 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. Holdings and allocations are subject to change at any time. Past performance does not guarantee future results. Alpha measures the excess return of an investment relative to a benchmark index.

IOPV is the Indicative Optimized Portfolio Valuation. 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. S&P 500 Dividend & Free Cash Flow Yield Index is designed to measure the constituents of the S&P 500 that exhibit both high dividend yield and sustainable distribution characteristics, while maintaining diversified sector exposure. S&P Emerging Plus LargeMidCap Index is designed to measure the performance of large- and mid-capitalization securities in emerging markets, including South Korea. The S&P Emerging Markets Dividend and Free Cash Flow Yield Index is designed to measure constituents of the S&P Emerging Plus LargeMidCap that exhibit both high dividend yield and sustainable distribution characteristics, while maintaining diversified sector exposure. The S&P Developed BMI Ex. U.S. & Korea LargeMidCap is designed to measure the performance of large- and mid-cap securities in developed markets, excluding the U.S. and Korea. The S&P Developed Ex-U.S. Dividend and Free Cash Flow Yield Index seeks to measure the performance of stocks in developed markets, excluding the U.S. and Korea, that exhibit both high dividend yield and cash flow yield characteristics, while maintaining diversified sector and country representation. An investment cannot be made directly in an index.

Median 30 Day Spread is a calculation of Fund’s median bid-ask spread, expressed as a percentage rounded to the nearest hundredth, computed by: identifying the Fund’s national best bid and national best offer as of the end of each 10 second interval during each trading day of the last 30 calendar days; dividing the difference between each such bid and offer by the midpoint of the national best bid and national best offer; and identifying the median of those values.

Advisors Asset Management, Inc. (AAM) is an SEC-registered investment advisor and member FINRA/SIPC. AAM ETFs are distributed by Quasar Distributors, LLC. Quasar and AAM are not affiliated.