Morningstar® Investment Profile™   Morningstar® Disclosure   Format for Print Morningstar Balanced ETF Asset Allc I Release date as of 2024-11-30. Data on page is subject to change. Snapshot Ratings & Risk Portfolio Nuts & Bolts

Morningstar Report Overall Morningstar Rating™ What is this? As of 2024-11-30 Out of 677 Moderate Allocation Funds Morningstar® Style Box™ What is this? As of 2024-10-31 As of 2024-10-31 Total Fund Assets ($ Mil) 43.34 View Historical Morningstar Star Ratings and Definitions

Investment Objective & Strategy   The investment seeks capital appreciation and some current income. The fund normally invests at least 80% of its net assets plus the amount of any borrowings for investment purposes, in securities of exchange-traded funds. The advisor typically expects to allocate its investments in ETFs such that 40% of such allocation is invested in ETFs that invest primarily in fixed-income securities and money market instruments and approximately 60% of such allocation is invested in ETFs that invest primarily in equity securities of large, medium and small sized companies, and may include other investments such as commodities and commodity futures. It is non-diversified.

Morningstar Category: Moderate Allocation Funds in allocation categories seek to provide both income and capital appreciation by primarily investing in multiple asset classes, including stocks, bonds, and cash. These moderate strategies seek to balance preservation of capital with appreciation. They typically expect volatility similar to a strategic equity exposure between 50% and 70%.

Investment Risks Non-Diversified Funds: Funds that invest more of their assets in a single issuer involve additional risks, including share price fluctuations, because of the increased concentration of investments. Fund of Funds: An investment option with mutual funds in its portfolio may be subject to the expenses of those mutual funds in addition to those of the investment option itself.

Portfolio Profile Asset Allocation % of Net Assets U.S. Stocks 41.3 Non-U.S. Stocks 17.6 Bonds 37.7 Cash 3.4 Other 0.0 Data through 2024-10-31 Morningstar Equity Sectors % of Stocks Cyclical 33.95 Basic Materials 4.34 Consumer Cyclical 10.76 Financial Services 16.00 Real Estate 2.85 Sensitive 47.98 Communication Services 7.91 Energy 4.78 Industrials 10.64 Technology 24.65 Defensive 18.07 Consumer Defensive 5.92 Healthcare 9.42 Utilities 2.73 Data through 2024-10-31 Morningstar Fixed-Income Sectors % Fund Government 46.96 Corporate 29.98 Securitized 17.01 Municipal 0.23 Cash & Equivalents 1.48 Derivative 4.36 Data through 2024-10-31 Credit Analysis % Bonds AAA 61.33 AA 6.86 A 12.36 BBB 12.63 BB 3.30 B 2.36 Below B 0.98 Not Rated 0.18 Data through 2024-10-31 Holding Status Total Number of Stock Holdings 0 Total Number of Bond Holdings 0 % of Net Assets in Top 10 Holdings 78.77 Turnover % (as of 2023-12-31) 35.00 30 Day SEC Yield % --- Top Holdings Sector Country Maturity Date Market Value ($000) % of Net Assets Vanguard Total Bond Market ETF --- USA --- 29,686 18.21 Vanguard Total Stock Market ETF --- USA --- 22,759 13.96 iShares Core S&P 500 ETF --- USA --- 17,862 10.96 Vanguard Short-Term Bond ETF --- USA --- 11,484 7.04 Schwab Fundamental International Eq ETF --- USA --- 11,223 6.88 Vanguard FTSE Developed Markets ETF --- USA --- 9,693 5.95 iShares S&P 100 ETF --- USA --- 9,032 5.54 Schwab Fundamental U.S. Large CompanyETF --- USA --- 6,715 4.12 Schwab Fundamental U.S. Small CompanyETF --- USA --- 5,017 3.08 Vanguard Total International Bond ETF --- USA --- 4,947 3.03 Data through 2024-10-31

Principal Risks    Foreign Securities, Loss of Money, Not FDIC Insured, Nondiversification, Market/Market Volatility, Equity Securities, ETF, Industry and Sector Investing, Underlying Fund/Fund of Funds, Fixed-Income Securities, Shareholder Activity, Conflict of Interest, Management Show Risk Definitions

Other Information Inception Date: 2007-04-30 Portfolio Manager(s) Jared Watts   (2007-04-30) Jared Watts, Portfolio Manager. Mr. Watts joined Morningstar Investment Management in 2006. His responsibilities include the management of fund-of-funds clients across multiple financial intermediary segments. Mr. Watts helps develop and manage multiple asset allocation solutions and strategies. In addition to conducting fund research, Mr. Watts helps lead the research and implementation efforts on exchange-traded products for Morningstar’s Investment Management group. Prior to joining Morningstar, Mr. Watts was an Investment Manager at Allstate Financial, where he helped manage fund relationships, asset allocation efforts, and investment product research. Prior to Allstate, Mr. Watts was at A.G. Edwards, where he conducted mutual fund and stock research. Mr. Watts holds a bachelor’s degree in finance from Southern Illinois University and a master’s degree in business administration, with honors, from Saint Xavier University, Graham School of Management with concentrations in portfolio management and financial analysis. Steve Tagarov   (2019-12-18) Steve Tagarov, CFA, Senior Investment Analyst: Mr. Tagarov joined Morningstar Investment Management in 2015. His responsibilities include supporting Target Risk Strategies, conducting manager research, manager due diligence, and he is a member of the Global Sectors team. Mr. Tagarov started his investment career since 2006. Prior to joining Morningstar Investment Management, Mr. Tagarov was a Senior Investment Consultant at Aon Hewitt Investment Consulting. Mr. Tagarov is a chartered financial analyst, he holds a bachelor’s degree from Augustana College and he’s currently an MBA candidate at the University of Chicago Booth school of business. Investment Advisor(s) ALPS Advisors Inc Issuer ALPS Subadvisor(s) Morningstar Investment Management LLC

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