Elkhorn Announces Dividend Distribution for Elkhorn FTSE RAFI U.S. Equity Income ETF (ELKU)

WHEATON, IL--(Marketwired - Mar 29, 2016) - Elkhorn Capital Group, LLC, a pioneer of research-based investing and a strategic partner of Barclays, announced the first dividend distribution for the Elkhorn FTSE RAFI U.S. Equity Income ETF (ELKU) of $0.24799 per share, an annualized distribution yield of 3.7% based on the closing NAV on Tuesday, March 22^nd.

ELKU is based on the FTSE RAFI™ U.S. Equity Income Index and offers a risk-managed approach to high yield dividend investing. The Index is designed to measure the performance of high yield stocks in the United States which have been screened to target sustainable income. Index constituents are selected and weighted using four fundamental factors and income, as opposed to market capitalization.

"Research Affiliates' approach to selecting high yielding equities seeks to marry the high quality attributes of dividend growing companies with investors' need for high income," said Ben Fulton, Founder and CEO of Elkhorn. "Instead of simply screening for the highest yielding stocks, Research Affiliates applies a forward-looking quality screen which is designed to eliminate potential high-yielding value traps."

"The quality screen used by Research Affiliates seeks to eliminate firms with declining earnings, poor debt coverage ratios or potential accounting red flags which could overstate their financial stability," said Graham Day, Head of Product and Research at Elkhorn. "In addition to their unique quality screen, Research Affiliates' fundamentals weighting methodology can also mitigate sector concentration. Currently, ELKU only has a 5.8% weight to utilities with its highest weight to financials at 15%.¹"

Portfolio		Ex-Date		Record Date		Pay Date		Ordinary Income
Elkhorn FTSE RAFI U.S. Equity Income ETF (ELKU)		3/22/2016		3/24/2016		3/28/2016		$0.24799

ELKU Performance as of 12/31/2015		Inception
Fund NAV		0.50%
Fund Share Price		0.60%
FTSE RAFI™ U.S. Equity Income Index		0.53%
FTSE USA All Cap Index		-0.07%

Fund inception is 12/10/2015. Share price returns are based on the midpoint of the bid/ask spread at 4 p.m. ET and do not represent the returns an investor would receive if shares were traded at other times. Performance data quoted represents past performance, which is not a guarantee of future results. Investment returns and principal value will fluctuate, and shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than performance data quoted. Returns less than one year are cumulative. Call 630.355.4676 for current month-end performance.

About Elkhorn
Founded in 2013 by Ben Fulton, a recognized leader and pioneer of the ETF and UIT industry, Elkhorn is redefining the relationship between investment strategy and product structure: designing, sponsoring and distributing innovative, research‐based investments solutions. At Elkhorn, research drives design and advisors drive structural decisions. Elkhorn has a strategic relationship with Barclays which has increased the capacity of investment solutions offered by Elkhorn. To learn more about Elkhorn please visit www.elkhorn.com.

About Research Affiliates
Research Affiliates is an asset allocation firm based in Newport Beach, California. Founded in 2002, Research Affiliates has become a global leader in innovative indexing led by Rob Arnott, Jason Hsu, and Chris Brightman. As of June 30, 2015, over $174 billion in assets are managed worldwide using investment strategies developed by Research Affiliates.

About FTSE Russell
FTSE Russell is a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide. FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately $10 trillion is currently benchmarked to FTSE Russell indexes. FTSE Russell is wholly owned by London Stock Exchange Group.

¹ Subject to change, as of March 22, 2016

Important Information
Fundamental indexing is a technique that selects companies according to their financial strength, using metrics such as sales, cash flow, book value, and dividends. Distribution yield is the annual dividends per share divided by the price per share of the security.

There are risks involved with investing in ETFs, including possible loss of money. Shares are not actively managed and are subject to risks similar to those of stocks, including those regarding short selling and margin maintenance requirements. Ordinary brokerage commissions apply. The Fund's returns may not match the return of the Underlying Indexes. One cannot invest in an index. Index yield does not represent an investment in the ETF.

The fund is new and has a limited operating history.

Shares are not individually redeemable and owners of the shares may acquire those shares from the Fund and tender those shares for redemption to the Fund in Creation Units only, typically consisting of 50,000 Shares.

An investor should consider the investment objectives, risks, charges and expenses of the Fund carefully before investing. To obtain a prospectus containing this and other information, please call 1.800.355.4676. Read the prospectus carefully before investing.

ALPS Distributors, Inc. is the distributor of Elkhorn exchange-traded funds.

Elkhorn Investments, LLC, Research Affiliates, LLC, FTSE Russell and ALPS Distributors, Inc. are not affiliated with each other.

ELK000163 3/30/17