ALPS Active Equity Opportunity ETF (RFFC) is an actively managed exchange-traded fund that seeks capital appreciation by investing at least 80% of its net assets in a portfolio of equity securities, including common stocks and common or preferred shares of real estate investment trusts (REITs); it may allocate up to 25% to non-U.S. stocks, including emerging markets, and up to 10% to REITs; the fund targets small-, mid-, and large-capitalization companies with better-than-average or improving fundamentals as measured by return on invested capital (ROIC), emphasizing both the rate of change and durability of ROIC to drive security selection and excess returns; it benchmarks against the S&P Composite 1500 Index and distributes income quarterly, with a total operating expense ratio of 0.48% and a 30-day SEC yield of 0.75%. Launched on June 6, 2016, and listed on NYSE Arca under ticker RFFC (CUSIP 00162Q510), the ETF operates primarily in U.S. equity markets with international exposure and is advised by ALPS Advisors, Inc., a registered investment adviser and affiliate of SS&C Technologies Holdings, Inc.; headquartered in Seattle, Washington, through its portfolio management team at SS&C ALPS Advisors. In a significant operational change effective June 1, 2023, prior sub-adviser RiverFront Investment Group, LLC ceased its role, with ALPS Advisors assuming full responsibility for investment selection; since June 2023, Laton Spahr, CFA (President of SS&C ALPS Advisors with 27 years of experience) and Eric Hewitt (Co-Chief Investment Officer with 26 years of experience) have served as portfolio managers; as of September 30, 2025, the fund held 58 securities with top allocations to information technology (27.16%), financials (15.08%), and health care (11.25%), including leading positions in NVIDIA Corp. (4.45%), Alphabet Inc. (4.20%), and Amazon.com Inc. (4.10%).