About ALPS

A wholly owned subsidiary of DST Systems, Inc., headquartered in Denver with offices in Boston, New York, Seattle, and Toronto, ALPS is a 28-year-old financial services firm focused on asset servicing and asset gathering. With more than 400 employees, over 200 clients, and an executive team that has been in place for over 18 years, ALPS continues to actively promote all of its various business segments, from asset servicing through ALPS Fund Services, Inc. to asset gathering through ALPS Distributors, Inc. and ALPS Advisors, Inc. As of December 31, 2012, the firm managed more than $8.25 billion in assets and provided servicing to more than $377 billion in client assets. For more information about ALPS and the services available, visit www.alpsinc.com, and for additional information about ALPS products, visit www.alpsfunds.com.


The Fund should be considered a speculative trading instrument and is not necessarily appropriate for investors who seek to avoid or minimize their exposure to stock market volatility.

Principal Investment Risks: Investors should consider the following risk factors and special considerations associated with investing in the Fund, which may cause you to lose money. Investors should also note that the risk factors titled “Put Option Risk,” “Equity Risk” and “Implied Volatility Risk” concern the features of the Fund from which the Fund expects to derive its investment return. These risk factors have been summarized for this document. See the prospectus for additional detail on each of these risk factors.

Investment Risk: An investment in the Fund is subject to investment risk, including the possible loss of the entire principal investment.

Put Option Risk. Options are generally subject to volatile swings in price based on changes in value of underlying instrument, and options written by the Fund may be particularly subject to this risk as the underlying stocks are selected by the Index Provider to have high volatility. While the Fund will collect premiums on the options it writes, the Fund’s risk of loss may substantially outweigh the gains to the Fund from the receipt of such option premiums.