There is no assurance that a unit investment trust will achieve its investment objective. An investment in this unit trust is subject to market risk, which is the possibility that the market values of securities owned by the trust will decline and that the value of trust units may therefore be less than what you paid for them. This trust is unmanaged and its portfolio is not intended to change during the trust's life except in limited circumstances. Accordingly, you can lose money investing in this trust.

An issuer may be unwilling or unable to declare dividends in the future, or may reduce the level of dividends declared. This may result in a reduction in the value of the units.

The value of the fixed income securities in certain of the ETFs will generally fall if interest rates, in general, rise. No one can predict whether interest rates will rise or fall in the future. A security issuer may be unable to make interest and/or principal payments in the future. This may reduce the level of dividends certain of the ETFs pay which would reduce your income and cause the value of the units to fall.

The portfolio invests in shares of ETFs. In particular, shares of ETFs may trade at a discount from their net asset value and are subject to risks related to factors such as management's ability to achieve a fund's objective, market conditions affecting a fund's investments and use of leverage. In addition, there is the risk that an active secondary market may not develop or be maintained, or trading may be halted by the exchange on which they trade, which may impact the portfolio's ability to sell the ETF shares. The portfolio and the underlying funds have management and operating expenses. You will bear not only your share of the portfolio's expenses, but also the expenses of the underlying funds. By investing in other funds, the portfolio incurs greater expenses than you would incur if you invested directly in the funds.

Securities of foreign issuers held by certain of the ETFs in the portfolio present risks beyond those of U.S. issuers. These risks may include market and political factors related to the issuer's foreign market, international trade conditions, less regulation, smaller or less liquid markets, increased volatility, differing accounting practices and changes in the value of foreign currencies.

Certain ETFs in the portfolio invest in securities in emerging markets. Investing in emerging markets entails the risk that news and events unique to a country or region will affect those markets and their issuers. Countries with emerging markets may have relatively unstable governments, may present the risks of nationalization of businesses, restrictions on foreign ownership and prohibitions on the repatriation of assets.

Certain ETFs in the portfolio invest in corporate bonds. The financial markets, including those for corporate bonds, have recently experienced periods of extreme illiquidity and volatility. Due to these significant difficulties in the financial markets, there can be substantial uncertainty in assessing the value of an issuer's assets or the extent of its obligations. For these or other reasons, the ratings of the bonds in certain ETFs may not accurately reflect the current financial condition or prospects of the issuer of the bond.

Certain ETFs in the Portfolio invest in shares of REITs and other real estate companies. These shares may appreciate or depreciate in value, or pay dividends depending upon global and local economic conditions, changes in interest rates and the strength or weakness of the real estate market.

Certain of the securities held by ETFs in the portfolio are issued by issuers that are considered to be "value" companies. Such securities are subject to the risk of inaccurately estimating certain fundamental factors and will generally underperform during periods when value style investments are out of favor.

Certain of the securities held by ETFs in the portfolio are issued by issuers that are considered to be "growth" companies. Securities of growth companies may be more volatile than other securities. If the perception of an issuer's growth potential is not realized, the securities may not perform as expected, reducing the portfolio's return.

Certain of the securities held by ETFs in the portfolio are stocks of small-cap companies. These stocks are often more volatile and have lower trading volumes than stocks of larger companies. Small companies may have limited products or financial resources, management inexperience and less publicly available information.

Certain ETFs in the portfolio may invest in securities rated below investment grade and considered to be "junk" securities. These securities are considered to be speculative and are subject to greater market and credit risks. Accordingly, the risk of default is higher than with investment grade securities. In addition, these securities may be more sensitive to interest rate changes and may be more likely to make early returns of principal.

Certain ETFs in the portfolio invest in preferred securities. Preferred securities are typically subordinated to bonds and other debt instruments in a company's capital structure in terms of priority to corporate income and therefore are subject to greater risk than those debt instruments. Income payments on many preferred securities may be deferred for 20 consecutive quarters or more but investors are generally taxed as if they had received current income during any deferral period.

Certain ETFs in the Portfolio invest in MLPs. Most MLPs operate in the energy, natural resources or real estate sectors and are subject to the risks generally applicable to companies in those sectors, including commodity price risk, supply and demand risk, depletion risk and exploration risk. MLPs are also subject to the risk that U.S. taxing authorities could challenge the tax treatment of MLPs for federal income tax purposes which could have a negative impact on the after-tax income available for distribution by the MLPs and/or the value of the Portfolio's investments.