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Fund Objective

The EGShares China Infrastructure exchange-traded fund (ETF) seeks investment results that generally correspond to the performance of the Indxx China Infrastructure Index. The Indxx China Infrastructure Index is a free-float market capitalization weighted stock market index comprised of 30 leading companies that Indxx, LLC determines to be representative of China's Infrastructure industries, as defined by the Industry Classification Benchmark (ICB).

Background

CHXX is designed to provide exposure to the organic urban growth in China. The underlying index includes, among other industries, metal miners, energy and power producers, transportation, utility, and water companies. Given the large market capitalizations of domestic financial stocks, many market capitalization-weighted benchmarks that track publicly traded Chinese companies have greater weightings to non-infrastructure sectors.

Key Statistics
(As of 12/31/11)
ETF Ticker (NYSE):
CHXX
Bloomberg Index Ticker:
ICHXXT
Inception Date
2/17/2010
Net Expenses*
0.85%
Holdings
30
Average Market Cap
$11.92B
Median Market Cap
$7.83B
Trailing P/E Ratio
8.0x
Price/Book Ratio
1.2x
Index Dividend Yield
3.08%

Sector Weights

(As of 12/31/11)
Sector
Weights
Industrials
43.0%
Financials
22.4
Basic Materials
11.9
Telecommunications
10.7
Oil & Gas
8.6
Utilities
3.2

Industry Weights

(As of 12/31/11)
Industry
Weights
Construction & Materials
23.9%
Real Estate Investment & Servicess
22.4
Industrial Engineering
16.9
Industrial Metals & Mining
11.9
Mobile Telecommunications
5.7
Oil Equipment, Services & Distribution
5.2
Fixed Line Telecommunications
5.1
Alternative Energy
3.4
Electricity
3.2
Industrial Transportation
2.3

Top 10 Holdings

(As of 12/31/11)
Company
Weights
China Communications Construction Co Ltd

5.8%
China Unicom Hong Kong Ltd
5.7
China Oilfield Services Ltd
5.2
China National Building Material Co Ltd

5.1
China Telecom Corp Ltd
5.1
Anhui Conch Cement Co Ltd
5.0
Jiangxi Copper Co Ltd
4.8
Evergrande Real Estate Group Ltd
4.5
Zoomlion Heavy Industry Science and Technology Co Ltd

3.7
Weichai Power Co Ltd
3.5

Performance

(As of 12/31/11)
   1-Month (%) 3-Month (%) Year-to-Date (%) 1-Year (%) Since
Inception (%)**
  Total Returns
(Net Asset Value)		 1.92 11.81 -26.10 -26.10 -12.13
  Total Returns
(Market Price)		 -4.98 14.92 -26.45 -26.45 -12.43
  Indxx China
Infrastructure Index		 2.61 13.79 -24.19 -24.19 -9.63

Performance data quoted represents past performance. Past performance does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than the original cost. Current performance data may be higher or lower than actual data quoted.

This fund will concentrate its investments in issuers of one or more particular industries to the same extent that its Underlying Index is so concentrated and to the extent permitted by applicable regulatory guidance. Concentration risk results from maintaining exposure to issuers conducting business in a specific industry.

Market price returns are based on the midpoint of the bid/ask spread at 4 p.m. ET and do not represent the returns an investor would receive if shares were traded at other times.

*Gross expenses of 1.52% are reimbursed to keep from exceeding 0.85% of net assets. This agreement will remain in effect and will be contractually binding at least until July 29, 2012.

**CHXX inception date is 2/17/10