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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. Diversification does not assure a profit or protect against a loss in a declining market. The Strategy is designed for long-term investors who are willing to accept short-term market price fluctuations. Principal risks of investing in this strategy include stock market risk, management risk, recent market events risk, and large cap company risk. Equity Market Risk: The equity securities held in the Fund’s portfolio may experience sudden, unpredictable drops in value or long periods of decline in value. This may occur because of factors that affect securities markets generally or factors affecting specific issuers, industries, or sectors in which the Fund invests. Common stocks are generally exposed to greater risk than other types of securities, such as preferred stock and debt obligations, because common stockholders generally have inferior rights to receive payment from issuers. Market Capitalization Risk: The Fund invests in small-capitalization companies which may be more vulnerable to adverse issuer, market, political, or economic developments than securities of large-capitalization companies. Smaller-capitalization companies generally trade in lower volumes and are subject to greater and more unpredictable price changes. Growth Investing Risk: Growth style investing may fall out of favor and underperform other styles of investing over any period of time. Certain sectors or growth stocks may shift characteristics over a long market cycle and may not perform in line with stated benchmarks. Companies experiencing high rates of current growth may be more volatile than other types of investments. New Fund Risk: The Fund is a recently organized investment company with no operating history. As a result, prospective investors have no track record or history on which to base their investment decision.

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. Price-to-Book Value (P/BV) ratio is calculated by dividing the current closing price of the stock by the latest quarter’s book value per share. Price-to-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. Price/Earnings (P/E) ratio is the ratio of a company’s stock price to the company’s earnings per share. 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. 30-day SEC dividend yield is based on the most recent 30-day period covered by the fund’s filings with the SEC. Russell 2000 Growth index measures the performance of the small-cap growth segment of the U.S. equity universe. It is not possible to invest directly in an index.

Not FDIC Insured • No Bank Guarantee • May Lose Value

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.