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Commission-Free ETFs

July 31, 2014

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 6/30/2014
1-Year 5-Year 10-Year Since Inception
Gross
Market NAV Market NAV Market NAV Market NAV Expense
Symbol / Fund Morningstar Category Return Return Return Return Return Return Return Return Ratio

AAXJ iShares MSCI All Country Asia ex Pacific/Asia ex-Japan Stk +16.44% +15.65% +9.39% +9.39% -- -- +5.72% +5.76% 0.67%
Japan ETF

ACWI iShares MSCI ACWI ETF World Stock +23.20% +23.34% +14.21% +14.19% -- -- +5.00% +5.06% 0.34%

AGG iShares Core Total Aggregate U.S. Intermediate-Term Bond +4.36% +4.36% +4.54% +4.66% +4.72% +4.75% +4.54% +4.54% 0.09%
Bond ETF

AOA iShares Aggressive Allocation ETF Aggressive Allocation +20.40% +20.84% +15.59% +15.61% -- -- +14.83% +13.43% 0.44%

AOK iShares Conservative Allocation ETF Conservative Allocation +9.57% +9.65% +7.34% +7.29% -- -- +7.25% +6.92% 0.43%

AOM iShares Moderate Allocation ETF Conservative Allocation +12.46% +12.46% +8.94% +8.98% -- -- +8.77% +8.20% 0.45%

AOR iShares Growth Allocation ETF Moderate Allocation +16.44% +16.39% +11.94% +11.95% -- -- +12.01% +10.56% 0.44%

BIV Vanguard Intermediate-Term Bond Intermediate-Term Bond +5.34% +5.13% +6.62% +6.73% -- -- +6.35% +6.38% 0.10%
ETF

BKF iShares MSCI BRIC ETF Diversified Emerging Mkts +15.31% +14.57% +3.79% +4.05% -- -- -4.22% -3.71% 0.67%

BLV Vanguard Long-Term Bond ETF Long-Term Bond +10.39% +10.51% +9.40% +9.50% -- -- +8.00% +8.01% 0.10%

BND Vanguard Total Bond Market ETF Intermediate-Term Bond +4.41% +4.27% +4.60% +4.74% -- -- +5.03% +5.04% 0.08%

BSV Vanguard Short-Term Bond ETF Short-Term Bond +1.74% +1.74% +2.40% +2.51% -- -- +3.54% +3.55% 0.10%

BWX SPDR Barclays International World Bond +9.78% +9.52% +4.02% +4.16% -- -- +4.52% +4.46% 0.50%
Treasury Bond ETF

CIU iShares Intermediate Credit Bond Corporate Bond +4.97% +5.00% +5.62% +6.18% -- -- +5.35% +5.36% 0.20%
ETF

CSJ iShares 1-3 Year Credit Bond ETF Short-Term Bond +1.65% +1.76% +2.44% +2.85% -- -- +3.42% +3.45% 0.20%

DBC PowerShares DB Commodity Index Commodities Broad Basket +5.77% +5.65% +3.28% +3.39% -- -- +2.05% +2.24% 0.85%
Tracking Trust

DBO PowerShares DB Oil Trust Commodities Energy +18.67% +18.41% +4.06% +4.04% -- -- +3.82% +3.82% 0.75%

DBV PowerShares DB G10 Currency Multicurrency +2.68% +2.69% +3.94% +3.99% -- -- +1.44% +1.51% 0.81%
Harvest Trust

DJP iPath Dow Jones-UBS Commodity Commodities Broad Basket -- -- -- -- -- -- -- -- --


Index Total Return ETN

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
July 31, 2014

TD Ameritrade Commission-Free ETFs

Commission-Free ETFs List


Continued from page 1
Standardized Returns as of 6/30/2014
1-Year 5-Year 10-Year Since Inception
Gross
Market NAV Market NAV Market NAV Market NAV Expense
Symbol / Fund Morningstar Category Return Return Return Return Return Return Return Return Ratio

EDV Vanguard Extended Duration Long Government +8.60% +8.36% +9.31% +9.58% -- -- +8.82% +8.20% 0.12%
Treasury Index ETF

EFG iShares MSCI EAFE Growth ETF Foreign Large Growth +19.88% +19.96% +11.86% +11.93% -- -- +6.09% +6.07% 0.40%

EFV iShares MSCI EAFE Value ETF Foreign Large Value +26.40% +26.47% +11.05% +11.06% -- -- +5.25% +5.22% 0.40%

EMLC Market Vectors Emerging Markets Emerging Markets Bond +5.69% +4.43% -- -- -- -- +3.61% +4.11% 0.48%
Local Currency Bond ETF

EPI WisdomTree India Earnings Fund India Equity +40.39% +38.49% +6.19% +6.24% -- -- -0.97% -0.83% 0.83%

EWA iShares MSCI Australia ETF Miscellaneous Region +20.49% +20.35% +14.38% +14.05% +11.94% +12.09% +9.43% +9.45% 0.51%

EWC iShares MSCI Canada ETF Miscellaneous Region +25.79% +26.09% +10.72% +10.68% +10.27% +10.35% +10.10% +10.11% 0.51%

EWG iShares MSCI Germany ETF Miscellaneous Region +29.19% +29.10% +14.14% +14.16% +9.31% +9.38% +7.32% +7.32% 0.51%

EWI iShares MSCI Italy Capped ETF Miscellaneous Region +50.19% +50.29% +4.21% +4.29% +1.38% +1.42% +5.43% +5.44% 0.50%

EWJ iShares MSCI Japan ETF Japan Stock +8.84% +9.45% +6.74% +6.64% +2.55% +2.70% -0.19% -0.19% 0.50%

EWP iShares MSCI Spain Capped ETF Miscellaneous Region +59.21% +58.65% +6.92% +7.01% +8.67% +8.70% +10.37% +10.36% 0.51%

EWQ iShares MSCI France ETF Miscellaneous Region +28.24% +28.02% +10.47% +10.52% +6.13% +6.16% +7.38% +7.38% 0.51%

EWU iShares MSCI United Kingdom ETF Miscellaneous Region +25.51% +25.90% +13.67% +13.81% +6.50% +6.64% +6.78% +6.76% 0.51%

EWX SPDR S&P Emerging Markets Small Diversified Emerging Mkts +16.82% +15.29% +9.90% +10.11% -- -- +1.69% +2.11% 0.65%
Cap ETF

EWZ iShares MSCI Brazil Capped ETF Latin America Stock +12.57% +11.81% +1.42% +1.47% +16.04% +16.06% +9.52% +9.56% 0.61%

FEZ SPDR EURO STOXX 50 Europe Stock +34.59% +34.64% +9.36% +9.42% +5.93% +6.05% +8.41% +8.65% 0.29%

FXI iShares China Large-Cap ETF China Region +16.11% +15.39% +1.53% +1.71% -- -- +9.95% +9.90% 0.73%

GUR SPDR S&P Emerging Europe ETF Miscellaneous Region +9.37% +9.67% +7.24% +7.28% -- -- -2.41% -2.28% 0.59%

GVI iShares Intermediate Intermediate-Term Bond +2.73% +2.72% +3.72% +3.83% -- -- +4.44% +4.44% 0.20%
Government/Credit Bond ETF

GXC SPDR S&P China ETF China Region +19.68% +18.40% +6.41% +6.42% -- -- +6.90% +7.04% 0.59%

IEI iShares 3-7 Year Treasury Bond ETF Intermediate Government +1.88% +1.86% +3.57% +3.58% -- -- +4.90% +4.90% 0.15%

IJH iShares Core S&P Mid-Cap ETF Mid-Cap Blend +25.53% +25.15% +21.48% +21.51% +10.44% +10.38% +9.64% +9.64% 0.15%

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
July 31, 2014

TD Ameritrade Commission-Free ETFs

Commission-Free ETFs List


Continued from page 2
Standardized Returns as of 6/30/2014
1-Year 5-Year 10-Year Since Inception
Gross
Market NAV Market NAV Market NAV Market NAV Expense
Symbol / Fund Morningstar Category Return Return Return Return Return Return Return Return Ratio

IJR iShares Core S&P Small-Cap ETF Small Blend +25.54% +25.46% +21.80% +21.89% +9.83% +9.84% +10.28% +10.28% 0.17%

IJS iShares S&P SmallCap 600 Value Small Value +25.23% +25.13% +21.40% +21.45% +9.31% +9.33% +10.59% +10.59% 0.30%
Index Fund

ILF iShares Latin America 40 ETF Latin America Stock +6.85% +6.58% +4.76% +4.81% +15.31% +15.35% +15.31% +15.32% 0.50%

IOO iShares Global 100 ETF World Stock +20.64% +20.43% +12.99% +13.00% +5.88% +5.92% +2.87% +2.86% 0.40%

ITM Market Vectors Intermediate Muni National Interm +8.27% +6.14% +5.67% +5.69% -- -- +4.95% +4.95% 0.24%
Municipal Index ETF

IVE iShares S&P 500 Value ETF Large Value +21.81% +21.71% +18.31% +18.30% +7.16% +7.18% +5.16% +5.17% 0.18%

IVV iShares Core S&P 500 ETF Large Blend +24.82% +24.53% +18.73% +18.74% +7.71% +7.72% +4.06% +4.06% 0.07%

IWB iShares Russell 1000 ETF Large Blend +24.68% +25.17% +19.06% +19.09% +8.04% +8.07% +4.36% +4.36% 0.15%

IWD iShares Russell 1000 Value ETF Large Value +23.47% +23.52% +18.94% +18.98% +7.86% +7.86% +6.57% +6.58% 0.21%

IWF iShares Russell 1000 Growth ETF Large Growth +26.82% +26.64% +19.00% +19.00% +8.00% +8.00% +2.08% +2.09% 0.20%

IWN iShares Russell 2000 Value ETF Small Value +22.54% +22.39% +19.70% +19.69% +8.10% +8.09% +10.21% +10.21% 0.36%

IWO iShares Russell 2000 Growth ETF Small Growth +25.10% +24.78% +20.59% +20.55% +9.04% +9.03% +4.50% +4.50% 0.25%

IWP iShares Russell Mid-Cap Growth Mid-Cap Growth +25.99% +25.74% +20.91% +20.91% +9.58% +9.60% +7.90% +7.90% 0.25%
ETF

IWS iShares Russell Mid-Cap Value ETF Mid-Cap Value +27.79% +27.41% +22.73% +22.70% +10.56% +10.48% +10.36% +10.35% 0.28%

IWV iShares Russell 3000 ETF Large Blend +24.27% +24.95% +19.11% +19.11% +8.06% +8.08% +4.84% +4.84% 0.20%

JNK SPDR Barclays High Yield Bond ETF High Yield Bond +12.10% +11.73% +12.49% +13.06% -- -- +7.26% +7.49% 0.40%

LQD iShares iBoxx $ Investment Grade Corporate Bond +8.88% +9.15% +8.11% +8.46% +5.92% +5.98% +6.16% +6.18% 0.15%
Corporate Bond ETF

MBB iShares MBS ETF Intermediate-Term Bond +4.28% +4.36% +3.71% +3.71% -- -- +4.51% +4.50% 0.27%

MGK Vanguard Mega Cap Growth Index Large Growth +28.89% +28.63% +19.10% +19.11% -- -- +8.12% +8.58% 0.11%
ETF

MUB iShares National AMT-Free Muni Muni National Interm +6.61% +5.57% +5.10% +5.18% -- -- +4.69% +4.60% 0.25%
Bond ETF

OEF iShares S&P 100 ETF Large Blend +22.72% +22.56% +17.43% +17.44% +6.82% +6.82% +3.19% +3.19% 0.20%

PCY PowerShares Emerging Markets Emerging Markets Bond +11.78% +11.62% +10.00% +10.35% -- -- +7.73% +7.90% 0.50%
Sovereign Debt Portfolio

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
July 31, 2014

TD Ameritrade Commission-Free ETFs

Commission-Free ETFs List


Continued from page 3
Standardized Returns as of 6/30/2014
1-Year 5-Year 10-Year Since Inception
Gross
Market NAV Market NAV Market NAV Market NAV Expense
Symbol / Fund Morningstar Category Return Return Return Return Return Return Return Return Ratio

RSX Market Vectors Russia Index ETF Miscellaneous Region +7.30% +7.84% +6.43% +6.50% -- -- -3.83% -3.91% 0.71%

RWO SPDR Dow Jones Global Real Global Real Estate +14.48% +14.44% +18.79% +19.06% -- -- +3.44% +3.57% 0.50%
Estate ETF

RWR SPDR Dow Jones REIT ETF Real Estate +12.95% +13.00% +23.50% +23.45% +9.16% +9.22% +11.23% +11.24% 0.25%

RWX SPDR Dow Jones International Real Global Real Estate +16.16% +16.48% +15.48% +15.59% -- -- +0.89% +1.01% 0.59%
Estate ETF

SCZ iShares MSCI EAFE Small-Cap ETF Foreign Small/Mid Blend +29.28% +28.60% +15.34% +15.52% -- -- +3.29% +3.41% 0.40%

SHM SPDR Nuveen Barclays Capital Muni National Short +2.75% +2.31% +2.00% +2.07% -- -- +2.94% +2.94% 0.20%
Short Term Municipal Bond ETF

SHY iShares 1-3 Year Treasury Bond ETF Short Government +0.61% +0.60% +1.04% +1.04% +2.49% +2.50% +2.42% +2.42% 0.15%

STPZ PIMCO 1-5 Year US TIPS Index ETF Inflation-Protected Bond +2.32% +2.28% -- -- -- -- +2.80% +2.80% 0.20%

TFI SPDR Nuveen Barclays Capital Muni National Long +6.97% +6.41% +5.28% +5.36% -- -- +4.74% +4.79% 0.30%
Municipal Bond ETF

TIP iShares TIPS Bond ETF Inflation-Protected Bond +4.35% +4.36% +5.36% +5.41% +5.08% +5.10% +5.07% +5.07% 0.20%

TLT iShares 20+ Year Treasury Bond Long Government +6.09% +6.55% +7.35% +7.38% +7.27% +7.32% +6.99% +7.01% 0.15%
ETF

VB Vanguard Small Cap ETF Small Blend +26.61% +26.51% +22.32% +22.33% +10.28% +10.21% +9.83% +9.83% 0.09%

VBK Vanguard Small Cap Growth ETF Small Growth +24.56% +24.43% +22.31% +22.27% +10.49% +10.44% +9.82% +9.82% 0.09%

VBR Vanguard Small Cap Value ETF Small Value +28.42% +28.23% +22.12% +22.10% +9.76% +9.69% +9.56% +9.56% 0.09%

VCIT Vanguard Intermediate-Term Corporate Bond +8.15% +7.95% -- -- -- -- +7.23% +7.28% 0.12%
Corporate Bond ETF

VCLT Vanguard Long-Term Corporate Corporate Bond +13.57% +13.19% -- -- -- -- +9.21% +9.39% 0.12%
Bond ETF

VCSH Vanguard Short-Term Corporate Short-Term Bond +3.53% +3.73% -- -- -- -- +3.69% +3.74% 0.12%
Bond ETF

VEA Vanguard FTSE Developed Markets Foreign Large Blend +23.51% +23.49% +11.83% +11.78% -- -- +0.81% +0.88% 0.09%
ETF

VEU Vanguard FTSE All-World ex-US Foreign Large Blend +22.09% +21.84% +11.18% +11.19% -- -- +3.03% +3.28% 0.15%
ETF

VGIT Vanguard Intermediate-Term Intermediate Government +2.25% +2.17% -- -- -- -- +3.68% +3.67% 0.12%
Government Bond ETF

VGK Vanguard FTSE Europe ETF Europe Stock +29.53% +29.36% +13.26% +13.25% -- -- +6.05% +6.05% 0.12%

VGLT Vanguard Long-Term Government Long Government +6.15% +6.06% -- -- -- -- +7.06% +7.16% 0.12%
Bond ETF

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
July 31, 2014

TD Ameritrade Commission-Free ETFs

Commission-Free ETFs List


Continued from page 4
Standardized Returns as of 6/30/2014
1-Year 5-Year 10-Year Since Inception
Gross
Market NAV Market NAV Market NAV Market NAV Expense
Symbol / Fund Morningstar Category Return Return Return Return Return Return Return Return Ratio

VGSH Vanguard Short-Term Government Short Government +0.54% +0.67% +0.52% -- +0.26% -- +0.91% +0.91% 0.12%
Bond ETF

VIG Vanguard Dividend Appreciation ETF Large Blend +20.13% +20.12% +16.97% +16.99% -- -- +7.78% +7.78% 0.10%

VMBS Vanguard Mortgage-Backed Intermediate-Term Bond +4.64% +4.52% -- -- -- -- -- +3.36% 0.12%


Securities ETF

VNQ Vanguard REIT Index ETF Real Estate +13.39% +13.37% +23.87% +23.80% -- -- +9.36% +9.37% 0.10%

VO Vanguard Mid Cap ETF Mid-Cap Blend +26.21% +26.23% +21.98% +21.96% +10.38% +10.31% +9.99% +9.99% 0.09%

VOE Vanguard Mid-Cap Value ETF Mid-Cap Value +28.56% +28.37% +22.89% +22.87% -- -- +9.07% +9.07% 0.09%

VOT Vanguard Mid-Cap Growth ETF Mid-Cap Growth +24.11% +23.97% +20.90% +20.86% -- -- +8.87% +8.86% 0.09%

VSS Vanguard FTSE All-World ex-US Foreign Small/Mid Blend +27.90% +27.77% +14.35% +14.32% -- -- +18.57% +18.58% 0.20%
Small Capital Index Fund ETF Class

VT Vanguard Total World Stock Index World Stock +23.73% +23.60% +14.68% +14.56% -- -- +6.00% +5.93% 0.18%
ETF

VTI Vanguard Total Stock Market ETF Large Blend +25.41% +25.18% +19.42% +19.43% +8.43% +8.42% +6.41% +6.15% 0.05%

VTV Vanguard Value ETF Large Value +22.58% +22.40% +18.46% +18.46% +7.86% +7.86% +7.54% +7.55% 0.09%

VUG Vanguard Growth ETF Large Growth +28.18% +28.07% +19.49% +19.50% +8.40% +8.43% +7.91% +7.92% 0.09%

VWO Vanguard FTSE Emerging Markets Diversified Emerging Mkts +14.10% +13.99% +8.80% +8.94% -- -- +8.53% +8.46% 0.15%
ETF

VXF Vanguard Extended Market Index Mid-Cap Blend +27.07% +26.99% +21.94% +21.94% +10.36% +10.34% +10.12% +10.12% 0.10%
ETF

VYM Vanguard High Dividend Yield Index Large Value +21.18% +21.00% +19.54% +19.57% -- -- +6.98% +6.98% 0.10%
ETF

WIP SPDR DB International Government World Bond +10.47% +10.97% +6.29% +6.58% -- -- +2.93% +3.07% 0.50%
Inflation-Protected Bond ETF

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
July 31, 2014

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.

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