Commission-Free ETFs

March 7, 2011

TD Ameritrade Commission-Free ETFs

100+ commission-free ETFs researched and selected by independant experts at Morningstar Associates Broad exposure to domestic and international indexes Asset allocation and dollar-cost averaging without commissions To trade commission-free ETFs, you must be enrolled in the program. If you trade eligible ETFs within the 30-day hold period, short-term trading fees will apply.

Commission-Free ETFs List

Standardized Returns as of 9/30/2010
1-Year 5-Year 10-Year

Symbol / Fund
AAXJ ACWI iShares MSCI All Country Asia ex Japan Index Fund iShares MSCI ACWI Index Fund iShares Barclays Aggregate Bond Fund iShares S&P Aggressive Allocation ETF iShares S&P Conservative Allocation ETF iShares S&P Moderate Allocation ETF iShares S&P Growth Allocation ETF Vanguard Intermediate Term Bond ETF iShares MSCI BRIC Index Fund Vanguard Long Term Bond ETF Vanguard Total Bond Market ETF Vanguard Short Term Bond ETF SPDR Barclays Capital International Treas Bd ETF iShares Barclays Intermediate Credit Bond Fund iShares Barclays 1-3 Year Credit Bond Fund PowerShares DB Commodity Index Tracking Fund PowerShares DB Oil Fund iPath Dow Jones-AIG Commodity Idx TR ETN PowerShares DB Commodity Long ETN

Morningstar Category
Pacific/Asia ex-Japan Stk World Stock Intermediate-Term Bond Aggressive Allocation Conservative Allocation Moderate Allocation World Allocation Intermediate-Term Bond Diversified Emerging Mkts Long-Term Bond Intermediate-Term Bond Short-Term Bond World Bond Intermediate-Term Bond Short-Term Bond Commodities Broad Basket Commodities Energy Commodities Broad Basket Commodities Broad Basket

Market NAV Return Return

+15.95% +7.76% +7.40% +11.03% +6.52% +6.77% +7.95% +12.21% +15.62% +13.03% +7.81% +4.63% +3.39% +9.42% +3.54% +9.29% +1.73% --+16.66% +8.10% +7.86% +11.07% +6.58% +6.80% +8.00% +12.79% +15.38% +13.35% +8.11% +4.99% +4.21% +10.46% +4.87% +8.61% +1.89% ---

Market NAV Return Return

--+6.01% ------------------+5.99% -----------------

Market NAV Return Return

---------------------------------------

Gross Market NAV Expense Return Return Ratio

+10.75% -4.59% +5.33% +17.57% +9.21% +10.86% +14.95% +8.82% -5.44% +9.40% +7.08% +5.80% +6.95% +7.05% +5.20% +1.43% +2.29% --+10.66% -4.44% +5.29% +13.23% +8.14% +9.10% +10.57% +8.80% -4.76% +9.36% +7.07% +5.80% +6.93% +6.90% +5.22% +1.41% +2.40% --0.73% 0.35% 0.24% 0.48% 0.44% 0.45% 0.46% 0.12% 0.72% 0.12% 0.12% 0.12% 0.50% 0.20% 0.20% 0.85% 0.75% ---

Since Inception

AGG AOA

AOK AOM

AOR BIV

BKF BLV

BND BSV

BWX CIU

CSJ DBC

DBO DJP

DPU

Before investing in an ETF, be sure to carefully consider the funds objectives, risks, charges, and expenses. For a prospectus containing this and other important information, contact the investment company or a TD Ameritrade Client Services representative. Please read the prospectus carefully before investing. The performance quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate thus an investors shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted herein. For performance current to the most recent month end, please visit our web site at www.tdameritrade.com or call 800-669-3900.
For complete fund details and research, please visit TDAmeritrade.com and go to Research & Ideas > ETFs > Commission-Free ETFs.

Page 1 of 6

Commission-Free ETFs
March 7, 2011

TD Ameritrade Commission-Free ETFs Commission-Free ETFs List

Continued from page 1
Standardized Returns as of 9/30/2010
1-Year 5-Year 10-Year

Symbol / Fund
EDV EFG Vanguard Extended Duration ETF iShares MSCI EAFE Growth Index Fund iShares MSCI EAFE Value Index Fund WisdomTree India Earnings Fund iShares MSCI Australia Index Fund iShares MSCI Canada Index Fund iShares MSCI Germany Index Fund iShares MSCI Italy Index Fund iShares MSCI Japan Index Fund iShares MSCI Spain Index Fund iShares MSCI France Index Fund iShares MSCI UK Index Fund SPDR S&P Emerging Markets Small Cap ETF iShares MSCI Brazil Index Fund SPDR EURO STOXX 50 ETF (Duplicate) iShares FTSE/Xinhua China 25 Index Fund SPDR S&P Emerging Europe ETF iShares Barclays Intermediate Govt/Credit Bd Fd SPDR S&P China ETF iPath Optimized Currency Carry ETN iShares Barclays 3-7 Year Treasury Bond Fund iShares S&P MidCap 400 Index Fund

Morningstar Category
Long Government Foreign Large Growth Foreign Large Value Pacific/Asia ex-Japan Stk Pacific/Asia ex-Japan Stk Foreign Large Value Europe Stock Europe Stock Japan Stock Europe Stock Europe Stock Europe Stock Diversified Emerging Mkts Latin America Stock Europe Stock China Region Europe Stock Multisector Bond China Region Currency Intermediate Government Mid-Cap Blend

Market NAV Return Return

+10.48% +8.48% -1.60% +26.10% +9.02% +11.81% +0.71% -15.36% +1.10% -13.96% -4.92% +8.64% +26.32% +17.82% -7.89% +6.37% +14.36% +7.05% +15.72% -+8.28% +17.66% +11.21% +8.26% -1.55% +27.03% +8.83% +12.48% +1.38% -15.20% -0.51% -13.29% -3.81% +9.10% +27.26% +15.36% -7.43% +6.29% +16.75% +7.38% +15.90% -+8.36% +17.57%

Market NAV Return Return

-+2.57% +0.91% -+8.73% +6.93% +5.13% -5.01% -3.02% +5.32% +1.38% +1.02% -+21.71% +1.29% +16.94% -----+3.60% -+2.64% +0.97% -+8.75% +7.04% +5.11% -5.02% -2.97% +5.48% +1.37% +0.89% -+21.24% +1.36% +17.03% -----+3.64%

Market NAV Return Return

----+13.49% +7.08% +3.08% +0.53% -2.30% +7.67% +1.58% +2.16% -+18.50% -------+5.29% ----+13.49% +7.15% +3.16% +0.55% -2.27% +7.79% +1.62% +2.19% -+18.49% -------+5.26%

Gross Market NAV Expense Return Return Ratio

+10.62% +3.77% +2.12% +2.50% +9.78% +11.16% +6.04% +5.90% -2.03% +11.19% +7.08% +5.71% +2.10% +17.02% +8.31% +17.67% -3.98% +6.67% +12.46% -+7.89% +6.65% +8.92% +3.83% +2.16% +2.73% +9.79% +11.18% +6.05% +5.90% -2.05% +11.24% +7.10% +5.70% +3.12% +16.80% +8.74% +17.45% -3.71% +6.57% +12.69% -+7.89% +6.65% 0.14% 0.40% 0.40% 0.88% 0.55% 0.55% 0.55% 0.59% 0.56% 0.56% 0.55% 0.55% 0.66% 0.65% 0.29% 0.73% 0.59% 0.20% 0.59% -0.15% 0.22%

Since Inception

EFV EPI

EWA EWC

EWG EWI

EWJ EWP

EWQ EWU

EWX EWZ

FEZ FXI

GUR GVI

GXC ICI

IEI IJH

Before investing in an ETF, be sure to carefully consider the funds objectives, risks, charges, and expenses. For a prospectus containing this and other important information, contact the investment company or a TD Ameritrade Client Services representative. Please read the prospectus carefully before investing. The performance quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate thus an investors shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted herein. For performance current to the most recent month end, please visit our web site at www.tdameritrade.com or call 800-669-3900.
For complete fund details and research, please visit TDAmeritrade.com and go to Research & Ideas > ETFs > Commission-Free ETFs.

Page 2 of 6

Commission-Free ETFs
March 7, 2011

TD Ameritrade Commission-Free ETFs Commission-Free ETFs List

Continued from page 2
Standardized Returns as of 9/30/2010
1-Year 5-Year 10-Year

Symbol / Fund
IJR IJS iShares S&P SmallCap 600 Index Fund iShares S&P SmallCap 600 Value Index Fund iShares S&P Latin America 40 Index Fund iShares S&P Global 100 Index Fund Market Vectors Intermediate Municipal Index ETF iShares S&P 500 Value Index Fund iShares S&P 500 Index Fund iShares Russell 1000 Index Fund iShares Russell Microcap Index Fund iShares Russell 1000 Value Index Fund iShares Russell 1000 Growth Index Fund iShares Russell 2000 Value Index Fund iShares Russell 2000 Growth Index Fund iShares Russell Midcap Growth Index Fund iShares Russell Midcap Value Index Fund iShares Russell 3000 Index Fund Barclays GEMS Index ETN SPDR Barclays Capital High Yield Bond ETF iShares iBoxx $ Inv Grade Corporate Bond Fund iShares Barclays MBS Bond Fund Vanguard Mega Cap 300 Growth Index Fund iShares S&P National Municipal Bond

Morningstar Category
Small Blend Small Value Latin America Stock World Stock Muni National Interm Large Value Large Blend Large Blend Small Blend Large Value Large Growth Small Value Small Growth Mid-Cap Growth Mid-Cap Value Large Blend Currency High Yield Bond Long-Term Bond Intermediate-Term Bond Large Growth Muni National Long

Market NAV Return Return

+14.05% +12.16% +20.97% +2.77% +5.93% +8.47% +10.15% +10.70% +7.29% +8.64% +12.53% +11.79% +15.01% +18.21% +16.48% +10.76% -+15.46% +11.55% +6.00% +11.16% +4.64% +14.09% +12.07% +20.96% +2.95% +5.94% +8.42% +10.11% +10.58% +7.39% +8.67% +12.43% +11.60% +14.78% +18.00% +16.64% +10.78% -+16.69% +12.18% +5.90% +11.21% +4.92%

Market NAV Return Return

+1.49% +0.94% +18.65% +0.98% --0.80% +0.58% +0.73% -2.99% -0.59% +1.86% +0.64% +2.28% +2.65% +1.84% +0.77% --+6.26% ---+1.51% +0.94% +18.73% +0.98% --0.78% +0.61% +0.78% -2.95% -0.58% +1.90% +0.63% +2.30% +2.66% +1.86% +0.82% --+6.18% ----

Market NAV Return Return

+6.04% +6.91% ---+0.66% -0.48% -0.34% -+2.44% -3.66% +7.47% -0.32% ---0.13% ------+6.05% +6.96% ---+0.68% -0.48% -0.31% -+2.45% -3.61% +7.52% -0.26% ---0.04% -------

Gross Market NAV Expense Return Return Ratio

+6.90% +7.39% +24.73% -0.33% +6.26% +1.13% -0.54% -0.20% -2.58% +2.73% -3.15% +7.84% -0.37% +4.01% +6.95% +0.44% -+5.18% +6.44% +6.45% -4.61% +6.01% +6.92% +7.40% +24.70% -0.32% +6.15% +1.13% -0.53% -0.20% -2.55% +2.74% -3.15% +7.84% -0.35% +4.01% +6.95% +0.45% -+5.41% +6.38% +6.37% -3.65% +5.70% 0.20% 0.25% 0.50% 0.40% 0.24% 0.18% 0.09% 0.15% 0.71% 0.20% 0.20% 0.41% 0.25% 0.25% 0.25% 0.21% -0.40% 0.15% 0.33% 0.13% 0.25%

Since Inception

ILF IOO

ITM IVE

IVV IWB

IWC IWD

IWF IWN

IWO IWP

IWS IWV

JEM JNK

LQD MBB

MGK MUB

Before investing in an ETF, be sure to carefully consider the funds objectives, risks, charges, and expenses. For a prospectus containing this and other important information, contact the investment company or a TD Ameritrade Client Services representative. Please read the prospectus carefully before investing. The performance quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate thus an investors shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted herein. For performance current to the most recent month end, please visit our web site at www.tdameritrade.com or call 800-669-3900.
For complete fund details and research, please visit TDAmeritrade.com and go to Research & Ideas > ETFs > Commission-Free ETFs.

Page 3 of 6

Commission-Free ETFs
March 7, 2011

TD Ameritrade Commission-Free ETFs Commission-Free ETFs List

Continued from page 3
Standardized Returns as of 9/30/2010
1-Year 5-Year 10-Year

Symbol / Fund
PCY RSX PowerShares Emerging Markets Sovereign Debt Port Market Vectors Russia ETF SPDR Dow Jones Global Real Estate ETF SPDR Dow Jones REIT Fund SPDR DJ International Real Estate ETF iShares MSCI EAFE Small Cap Index Fund SPDR Nvn Barclys Cptl Shrt Trm Mncpl Bnd iShares Barclays 1-3 Year Treasury Bond Fund SPDR Nuveen Barclays Capital Municpl Bnd iShares Barclays TIPS Bond Fund iShares Barclays 20+ Year Treasury Bond Fund Vanguard Small Cap ETF Vanguard Small Cap Growth ETF Vanguard Small Cap Value ETF Vanguard Intermediate Term Corporate Bond ETF Vanguard Long Term Corporate Bond ETF Vanguard Short Term Corporate Bond ETF Vanguard Europe Pacific ETF Vanguard FTSE All World ex US ETF Vanguard Intermediate Term Government Bond ETF Vanguard European ETF Vanguard Long Term Government Bond ETF

Morningstar Category
Emerging Markets Bond Europe Stock Global Real Estate Real Estate Global Real Estate Foreign Small/Mid Value Muni Short Short Government Muni National Long Inflation-Protected Bond Long Government Small Blend Small Growth Small Value Intermediate-Term Bond Long-Term Bond Short-Term Bond Foreign Large Blend Foreign Large Blend Intermediate Government Europe Stock Long Government

Market NAV Return Return

+13.43% +17.53% +18.23% +30.16% +13.06% +8.05% +2.85% +2.31% +5.14% +8.76% +11.28% +15.49% +16.70% +14.03% ---+3.03% +7.18% -+2.09% -+15.02% +20.78% +19.69% +29.91% +12.15% +9.02% +3.00% +2.40% +5.63% +8.68% +11.35% +15.22% +16.62% +13.84% ---+3.36% +7.51% -+2.38% --

Market NAV Return Return

---+1.39% ---+4.29% -+5.36% +7.39% +2.72% +3.62% +1.55% ------+2.44% ----+1.34% ---+4.25% -+5.35% +7.32% +2.72% +3.65% +1.57% ------+2.42% --

Market NAV Return Return

---------------------------------------------

Gross Market NAV Expense Return Return Ratio

+10.39% -4.12% -8.87% +10.21% -7.89% -7.98% +4.92% +3.28% +5.79% +5.66% +7.75% +4.70% +4.65% +4.53% +12.39% +12.38% +5.95% -8.84% -1.61% +7.88% +2.73% +13.46% +9.84% -4.23% -8.61% +10.19% -7.76% -7.56% +4.81% +3.28% +5.96% +5.62% +7.76% +4.72% +4.67% +4.53% +12.37% +13.68% +6.04% -8.64% -1.15% +7.97% +2.71% +14.26% 0.50% 0.62% 0.50% 0.25% 0.59% 0.40% 0.20% 0.15% 0.30% 0.20% 0.15% 0.14% 0.14% 0.14% 0.15% 0.15% 0.15% 0.15% 0.25% 0.15% 0.16% 0.15%

Since Inception

RWO RWR

RWX SCZ

SHM SHY

TFI TIP

TLT VB

VBK VBR

VCIT VCLT

VCSH VEA

VEU VGIT

VGK VGLT

Before investing in an ETF, be sure to carefully consider the funds objectives, risks, charges, and expenses. For a prospectus containing this and other important information, contact the investment company or a TD Ameritrade Client Services representative. Please read the prospectus carefully before investing. The performance quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate thus an investors shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted herein. For performance current to the most recent month end, please visit our web site at www.tdameritrade.com or call 800-669-3900.
For complete fund details and research, please visit TDAmeritrade.com and go to Research & Ideas > ETFs > Commission-Free ETFs.

Page 4 of 6

Commission-Free ETFs
March 7, 2011

TD Ameritrade Commission-Free ETFs Commission-Free ETFs List

Continued from page 4
Standardized Returns as of 9/30/2010
1-Year 5-Year 10-Year

Symbol / Fund
VGSH VIG Vanguard Short Term Government Bond ETF Vanguard Dividend Appreciation ETF Vanguard Mortgage Backed Securities ETF Vanguard REIT ETF Vanguard Mid Cap ETF Vanguard Mid Cap Value ETF Vanguard Mid Cap Growth ETF Vanguard FTSE All World ex US Small Cap ETF Vanguard Total World Stock ETF Vanguard Total Stock Market ETF Vanguard Value ETF Vanguard Growth ETF Vanguard Emerging Markets ETF Vanguard Extended Market ETF Vanguard High Dividend Yield Index Fund SPDR DB International Government Inflation Protected Bond ETF

Morningstar Category
Short Government Large Blend Intermediate-Term Bond Real Estate Mid-Cap Blend Mid-Cap Value Mid-Cap Growth Foreign Small/Mid Growth World Stock Large Blend Large Value Large Growth Diversified Emerging Mkts Mid-Cap Blend Large Value World Bond

Market NAV Return Return

-+12.06% -+30.68% +17.91% +15.82% +19.83% +16.24% +8.38% +11.15% +8.62% +12.97% +19.57% +15.98% +9.21% +6.08% -+11.99% -+30.60% +17.91% +15.85% +19.88% +16.36% +8.48% +11.15% +8.50% +12.80% +19.81% +16.19% +9.12% +7.23%

Market NAV Return Return

---+2.02% +2.31% ----+1.22% -0.17% +2.21% +12.09% +2.71% -----+2.11% +2.34% ----+1.24% -0.14% +2.25% +12.13% +2.73% ---

Market NAV Return Return

---------------------------------

Gross Market NAV Expense Return Return Ratio

+1.86% +1.42% +3.80% +5.91% +5.52% +0.54% +1.64% +46.77% -3.47% +1.98% +2.33% +2.39% +13.57% +6.39% -3.28% +0.28% +1.87% +1.42% +4.10% +5.91% +5.51% +0.54% +1.65% +46.86% -3.73% +1.64% +2.33% +2.39% +13.36% +6.41% -3.28% +0.53% 0.15% 0.23% 0.15% 0.13% 0.14% 0.14% 0.14% 0.40% 0.30% 0.07% 0.14% 0.14% 0.27% 0.13% 0.20% 0.50%

Since Inception

VMBS VNQ

VO VOE

VOT VSS

VT VTI

VTV VUG

VWO VXF

VYM WIP

Before investing in an ETF, be sure to carefully consider the funds objectives, risks, charges, and expenses. For a prospectus containing this and other important information, contact the investment company or a TD Ameritrade Client Services representative. Please read the prospectus carefully before investing. The performance quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate thus an investors shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted herein. For performance current to the most recent month end, please visit our web site at www.tdameritrade.com or call 800-669-3900.

For complete fund details and research, please visit TDAmeritrade.com and go to Research & Ideas > ETFs > Commission-Free ETFs.

Page 5 of 6

Commission-Free ETFs
March 7, 2011

TD Ameritrade Commission-Free ETFs

Important Information
For complete program details (including terms and conditions) and to enroll in the Commission-Free ETF program, please visit TDAmeritrade.com and go to Research & Ideas > ETFs > Commission-Free ETFs. A few exchange traded notes (ETNs) are included in the commission-free ETF list generated by Morningstar Associates. ETNs are not funds and are not registered investment companies. ETNs are not secured debt and most do not provide principal protection. ETNs involve credit risk. The repayment of the principal, any interest, and the payment of any returns at maturity or upon redemption depend on the issuers ability to pay. The market value of an ETN may be impacted if the issuers credit rating is downgraded. ETNs may be subject to specific sector or industry risks. Leveraged and inverse ETNs are subject to substantial volatility risk and other unique risks including leverage, derivatives, and complex investment strategies that should be understood before investing. ETNs containing components traded in foreign currencies are also subject to foreign exchange risk. ETNs may have call features that allow the issuer to call the ETN. A call right by an issuer may adversely affect the value of the notes ETFs are baskets of securities that may track a sector-specific, country-specific, or a narrow/broad-market index. ETFs trade on an exchange like a stock. ETFs are subject to risk similar to those of their underlying securities, including, but not limited to, market, sector, or industry risks, and those regarding short-selling and margin account maintenance. Commission fees typically apply. Risks of Commodity ETFs: Commodity ETFs may be affected by changes in overall market movements, commodity index volatility, changes in interest rates or factors affecting a particular industry or commodity. Commodity ETFs may be subject to greater volatility than traditional ETFs and may not be suitable for all investors. Unique risk factors of a commodity fund may include, but are not limited to the funds use of aggressive investment techniques such as derivatives, options, forward contracts, correlation or inverse correlation, market price variance risk and leverage. Risks of Currency ETFs: The value of the shares of a currency exchange traded product relates directly to the value of the foreign currency held by the particular product. This creates a concentration risk associated with fluctuations in the price of the applicable foreign currency. Unique risk factors of a foreign currency include national debt levels and trade deficits, domestic and foreign inflation rates, domestic and foreign interest rates, investment and trading activities of institutions and global or regional political, economic or financial events and situations. Currency products may not be suitable for all investors. Many currency products are not investment companies registered under the Investment Company Act of 1940. For a more complete discussion of risk factors applicable to each currency product, carefully read the particular products prospectus. Risks of Bond ETFs: Investments in bond funds are not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency. Bonds and bond funds will typically decrease in value as interest rates rise. Risks of Leveraged and Inverse ETFs: Leveraged and inverse ETFs entail unique risks, including but not limited to: use of leverage; aggressive and complex investment techniques; and use of derivatives. Leveraged ETFs seek to deliver multiples of the performance of a benchmark. Inverse ETFs seek to deliver the opposite of the performance of a benchmark. Both seek results over periods as short as a single day. Results of both strategies can be affected substantially by compounding. Returns over longer periods will likely differ in amount and even direction. These products require active monitoring and management, as frequently as daily. They are not suitable for all investors. Morningstar Associates, LLC is a registered investment advisor and wholly owned subsidiary of Morningstar, Inc. The commission-free ETFs selected by Morningstar Associates, have been derived from a universe of ETFs made available through TD Ameritrade. Both the universe of ETFs defined by TD Ameritrade and the commission-free ETFs selected by Morningstar Associates are subject to change without notice. Morningstar Associates does not warrant this information to be accurate, complete or timely. Morningstar Associates is not responsible for any damages or losses arising from the use of this information. Past performance is no guarantee of future results. Particular commission-free ETFs may not be appropriate investments for you under your circumstances, and there may be other ETFs or investment options offered by TD Ameritrade that are more suitable. Neither Morningstar Associates nor Morningstar, Inc. is affiliated with TD Ameritrade and its affiliates. The Morningstar name and logo are registered marks of Morningstar, Inc. TD Ameritrade, Division of TD Ameritrade, Inc., member FINRA/SIPC/NFA. TD Ameritrade is a trademark jointly owned by TD Ameritrade IP Company, Inc. and The Toronto-Dominion Bank. Copyright 2010 TD Ameritrade IP Company, Inc. All rights reserved. Used with permission.

For complete fund details and research, please visit TDAmeritrade.com and go to Research & Ideas > ETFs > Commission-Free ETFs.

Page 6 of 6