First High Quality Preferred ETF Declares 5.8% Distribution Yield

WHEATON, IL--(Marketwired - Jul 28, 2016) -  Elkhorn Investments, LLC, a pioneer of research-based investing and a strategic partner of Barclays, announced the initial dividend distribution for the Elkhorn S&P High Quality Preferred ETF (EPRF) of $0.1240 per share, an annualized distribution yield of 5.8% based on the closing NAV on Friday, July 22nd.

The Elkhorn S&P High Quality Preferred ETF tracks the S&P U.S. High Quality Preferred Stock Index, which selects fixed-rate investment grade preferred issues (BBB- or higher) from U.S. listed preferred stocks and overweights cumulative versus non-cumulative preferreds.

"As investors embrace a zero interest rate environment, preferreds are increasingly being used to meet investor's income needs. EPRF is the first ETF to select only investment-grade issues, a strategy that can help improve credit quality and diversify a preferred portfolio," said Ben Fulton, CEO of Elkhorn Investments.

"Improving credit quality within preferreds can help investors manage downside risks," says Graham Day, SVP and Head of Product & Research at Elkhorn. "Similar to investment grade and high yield corporates, investment grade preferreds tend to outperform junk-rated preferreds in down markets; something we saw play out during the Brexit announcement. Investment grade preferreds and EPRF provide a compelling option for investors looking for both high yield and high credit quality."

EPRF charges a 0.47% expense ratio and is unique in only allocating 11% to banks, compared to the S&P U.S. Preferred Stock Index's 50% plus weight to banks. Year to date, EPRF's index has a maximum drawdown of 3.8% versus 6.7% for the S&P U.S. Preferred Index¹.

Portfolio	Ex-Date		Record Date		Pay Date		Ordinary Income		Dividend Yield		30-Day SEC Yield2
Elkhorn S&P High Quality Preferred ETF (EPRF)	7/25/2016		7/27/2016		7/29/2016		$0.12400		5.8%		5.2%

EPRF Performance as of 6/30/2016	Inception
Fund NAV	1.76%
Fund Share Price	2.09%
S&P U.S. High Quality Preferred Stock Index	1.84%
S&P U.S. Preferred Stock Index	1.81%

Fund inception is 5/24/2016. 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 630.384.8700 for current month-end performance. The Total Operating Expenses are 0.47%.

¹ Source: Bloomberg L.P. as of June 30, 2016
² Subject to change, as of July 22, 2016

About Elkhorn
Founded in 2013 by Ben Fulton, a recognized leader and pioneer of the ETF 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.

S&P® is a registered trademark of Standard & Poor's Financial Services LLC ("S&P"), a part of McGraw Hill Financial. Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"). These trademarks have been licensed to S&P Dow Jones Indices LLC. It is not possible to invest directly in an index. S&P Dow Jones Indices LLC, Dow Jones, S&P and their respective affiliates (collectively "S&P Dow Jones Indices") do not sponsor, endorse, sell, or promote any investment fund or other investment vehicle that is offered by third parties and that seeks to provide an investment return based on the performance of any index. This document does not constitute an offer of services in jurisdictions where S&P Dow Jones Indices does not have the necessary licenses. S&P Dow Jones Indices receives compensation in connection with licensing its indices to third parties.

Brexit is a blend of the words 'British' and 'exit' which refers to the possibility of Great Britain leaving the European Union. Drawdown is the loss between the peak and trough of a market cycle. A cumulative preferred stock is a type of preferred stock with a provision that stipulates that if any dividends have been omitted in the past, they must be paid out to preferred shareholders first, before common shareholders can receive dividends. Junk rated is any security with a credit rating below BBB-.

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 return may not match the return of the Underlying Index. The Fund is subject to certain other risks. The fund invests in preferred securities which may be subject to many of the risks associated with debt securities, including interest rate risk. The fund invests in equity securities which may be subject to volatile price fluctuations. Because the fund is non-diversified and can invest a greater portion of its assets in securities of individual issuers than a diversified fund, changes in the market value of a single investment could cause greater fluctuations in share price.

S&P U.S. Preferred Stock Index represents the US preferred stock market. One cannot invest directly in an index. This fund is new and has a limited operating history.

Credit ratings apply the Index, not the fund itself. S&P and Moody's study the financial condition of an entity to ascertain its creditworthiness. The credit ratings reflect the rating agency's opinion of the holdings financial condition and histories. For information on the rating agencies methodology, visit http://www.standardandpoors.com or https://www.moodys.com.

Shares of ETFs are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Market returns are based upon the midpoint of the bid/ask spread at 4:00pm eastern time (when NAV is normally determined for most ETFs), and do not represent the returns you would receive if you traded shares at other times.

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.

ALPS Distributors, Inc. is the distributor of Elkhorn exchange-traded funds. Elkhorn Investments, LLC, S&P Dow Jones Indices LLC and ALPS Distributors, Inc. are not affiliated with each other.

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, click here or call 630.384.8700. Read the prospectus carefully before investing.

ELK000233 7/29/17