# EDGAR Filing Document

**Accession Number:** 0001414040
**File Stem:** 0001398344-23-006630
**Filing Date:** 2023-3
**Character Count:** 7197
**Document Hash:** 9bd448f0bd5fd26a14c5710ac1fc7431
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001398344-23-006630.hdr.sgml**: 20230327

**ACCESSION NUMBER**: 0001398344-23-006630

**CONFORMED SUBMISSION TYPE**: 497

**PUBLIC DOCUMENT COUNT**: 14

**FILED AS OF DATE**: 20230327

**DATE AS OF CHANGE**: 20230327

**EFFECTIVENESS DATE**: 20230327

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ALPS ETF Trust
- **CENTRAL INDEX KEY:** 0001414040
- **IRS NUMBER:** 000000000
- **FISCAL YEAR END:** 1130

**FILING VALUES:**
- **FORM TYPE:** 497
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-148826
- **FILM NUMBER:** 23765335

**BUSINESS ADDRESS:**
- **STREET 1:** P.O. Box 328
- **CITY:** Denver
- **STATE:** CO
- **ZIP:** 80201-0328
- **BUSINESS PHONE:** 303.623.2577

**MAIL ADDRESS:**
- **STREET 1:** P.O. Box 328
- **CITY:** Denver
- **STATE:** CO
- **ZIP:** 80201-0328

## Series and Classes Contracts Data

### RiverFront Dynamic US Flex-Cap ETF (Series ID: S000052853)

---

|  |  |  |
|:---|:---|:---|
| Class Name                         | Ticker Symbol | Class ID   |
| RiverFront Dynamic US Flex-Cap ETF | RFFC          | C000166226 |

---

## Series and Classes Contracts Data

### RiverFront Dynamic US Flex-Cap ETF (Series ID: S000052853)

| Class ID   | Class Name                         | Ticker Symbol   |
|:---|:---|:---|
| C000166226 | RiverFront Dynamic US Flex-Cap ETF | RFFC            |

?xml version="1.0" encoding="utf-8"?

**ALPS ETF TRUST**

**RiverFront Dynamic US Flex-Cap ETF (NYSE ARCA: RFFC)**

(the "Fund")

 **SUPPLEMENT DATED MARCH 27, 2023**

**TO THE SUMMARY PROSPECTUS, PROSPECTUS AND STATEMENT OF ADDITIONAL INFORMATION ("SAI"), EACH DATED MARCH 31, 2022, AS SUPPLEMENTED**

**\*\*\***

**IMPORTANT NOTICE REGARDING CHANGES IN FUND NAME, NON- FUNDAMENTAL INVESTMENT POLICY, PRINCIPAL INVESTMENT STRATEGIES, MANAGEMENT FEE AND PORTFOLIO MANAGERS**

Effective June 1, 2023, RiverFront Investment Group, LLC ("RiverFront"), will cease to serve as sub-adviser to the Fund and ALPS Advisors, Inc., the Fund's investment adviser, will assume all responsibility for selecting the Fund's investments. Accordingly, each of the following changes will take effect on June 1, 2023:

*All references to the Fund's name in the Summary Prospectus, Prospectus and SAI are hereby deleted and replaced with the following information:*

 

ALPS Active Equity Opportunity ETF

 

*The Fund's NYSE Arca ticker symbol, RFFC, will remain the same.*

 

*All references to the Fund's non-fundamental investment policy in the Summary Prospectus, Prospectus and SAI to normally invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in securities of U.S. issuers, is hereby deleted and replaced with the following information:*

The Fund will normally invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in equity securities.

*The section entitled "**FEES AND EXPENSES OF THE FUND**" in the Summary Prospectus and Prospectus is hereby deleted and replaced with the following information:*

 

**FEES AND EXPENSES OF THE FUND**

This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund ("Shares"). You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and example below.

Annual Fund Operating Expenses *(expenses that you pay each year as a percentage of the value of your investment)*

---

| | |
|:---|:---|
| Management Fees<sup>(1)</sup> | 0.48% |
| Other Expenses | 0.00% |
| Total Annual Fund Operating Expenses | 0.48% |

---

 

*(1)* *Restated to reflect current fees.* 

**Example**

The following example is intended to help you compare the cost of investing in the Fund with the costs of investing in other funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated and then hold or redeem all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same each year.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | One<br> Year | Three<br> Years | Five<br> Years | Ten<br> Years |
| Although your actual costs may be higher or lower, based on these assumptions your costs would be: | $49 | $154 | $269 | $603 |

---

*The section entitled "**PRINCIPAL INVESTMENT STRATEGIES**" in the Summary Prospectus and Prospectus is hereby deleted and replaced with the following information:*

**PRINCIPAL INVESTMENT STRATEGIES**

Under normal market conditions, the Fund will seek to achieve its investment objective by investing at least 80% of its net assets in a portfolio of equity securities. Equity securities include common stocks and common or preferred shares of real estate investment trusts ("REITs").

The primary decision factor in selecting the Fund's portfolio's securities is the combination of dividend-paying stocks and stocks determined to have high or improving return on invested capital ("ROIC"). In addition to considering economic factors such as the effect of interest rates on the Fund's investments, the portfolio managers typically apply a "bottom up" approach in choosing investments. Due to the nature of the securities in which the Fund invests, the Fund may have relatively high portfolio turnover compared to other funds. The portfolio managers use a disciplined sell strategy for the Fund. The portfolio managers may sell securities because of a deterioration of the underlying company's financials, such as earnings or cash flow, or because of an increase in the price of a security that would make it expensive relative to the other securities held by the Fund. Other reasons may include a change in management or control of the company, a need to raise cash or changes in the regulatory or economic environment in which the company operates. Portfolio managers can also sell any security at their discretion based on changes in expected valuation, volatility or other statistical or fundamental parameters.

The Fund may invest in small-, mid- and large-capitalization companies. The Fund will normally invest at least 75% of its net assets in securities of U.S. issuers. The Fund considers a "U.S. issuer" to be one (i) domiciled or with a principal place of business or primary securities trading market in the United States, or (ii) that derives more than 50% of its total revenues or profits from the United States. The Fund may invest substantially in companies in the financial services sector. The Fund may also invest in other exchange-traded funds ("ETFs") and/or closed-end funds which invest in equity securities.

*The section entitled "**PORTFOLIO MANAGER**" in the Summary Prospectus and Prospectus is hereby deleted and replaced with the following information:*

 

Laton Spahr, President of ALPS Advisors, and Eric Hewitt, Director of Research of ALPS Advisors, have been portfolio managers of the Fund since June 1, 2023.

*Corresponding changes are hereby made to all other sections of the Summary Prospectus, Prospectus and SAI, as applicable.*

 

**PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE**