Reaves Asset Management Rings the NYSE Opening Bell® for “UTES”

Reaves Asset Management, an employee-owned, research-based investment management company founded in 1961, will ring The Opening Bell® on the New York Stock Exchange (NYSE) on Tuesday, October 25, 2016 at 9:30AM EDT. The Reaves Utilities ETF (Ticker: UTES) began trading as a NYSE Arca listed ETF on October 24, 2016. (Inception date of the fund is 9/23/2015.) UTES is the only actively managed and fully transparent utilities exchange traded fund (ETF).

“We are pleased to ring The Opening Bell in celebration of the new listing of UTES on the New York Stock Exchange,” said Ronald Sorenson, Chairman, CEO and CIO at Reaves Asset Management. “As the Reaves Utilities ETF enters its second year of operation by actively investing in securities across the utilities sector, we are proud to bring this listing to such a well-regarded platform for ETFs.”

“NYSE Arca continues to be the market leading exchange for ETP volume and liquidity, offering unparalleled market quality and execution. A critical component of our success is attributed to the strong relationships we have with our issuers and we are delighted to welcome Reaves Asset Management’s ETF UTES to our ever expanding ETP offering,” said Doug Yones, NYSE Head of Exchange Traded Products.

As an actively-managed ETF, the Reaves Utilities ETF does not seek to replicate the performance of a specified passive index of securities. The expense ratio for the fund is 0.95% and more information on UTES can be found at ReavesETFs.com.

About Reaves Asset Management

Founded in 1961 as an investment research boutique, Reaves Asset Management has a long performance record of managing institutional equity portfolios. Utilities, telecom, and energy infrastructure securities are the focus of the firm’s research and investment activities.

Reaves’ extensive industry expertise, combined with a team consensus approach, has been the foundation of its investment decisions, focusing on preserving capital, generating current income, and delivering long-term growth to investors.

Reaves Asset Management is based in Jersey City, NJ and currently has approximately $2.7 billion in assets under management. For more information, visit reavesassetmanagement.com.

The fund’s Total Annual Operating Expense is 0.95%.

You should consider the fund’s investment objectives, risks, and charges and expenses carefully before investing. Contact Virtus ETF Solutions at 1-888-383-0553 or visit www.reavesetfs.com to obtain a prospectus which contains this and other information about the fund. The prospectus should be read carefully before investing.

Fund Risks

Equity Securities: The market price of equity securities may be adversely affected by financial market, industry, or issuer-specific events. Focus on a particular style or on small or medium-sized companies may enhance that risk.

Utility Sector Concentration: The fund's investments are concentrated in the utility sector and may present more risks than if the fund were broadly diversified over numerous sectors of the economy.

Industry/Sector Concentration: A fund that focuses its investments in a particular industry or sector will be more sensitive to conditions that affect that industry or sector than a non-concentrated fund.

Prospectus: For additional information on risks, please see the fund's prospectus.

Virtus ETF Advisers LLC serves as the investment adviser and W.H. Reaves & Co., Inc. (d/b/a Reaves Asset Management) serves as the investment sub-adviser to the Fund. The Fund is distributed by ETF Distributors LLC, an affiliate of Virtus ETF Advisers LLC.

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