EQUITY - THEMATIC PORTFOLIOS

Series 2020-1, ADT 1990

Cohen & Steers Dynamic Income Portfolio

Morningstar Equity Style BoxTM
Investment Objective & Strategy
The Cohen & Steers Dynamic Income Portfolio is a unit investment trust (UIT). The trust seeks to
provide total return with an emphasis on current income. The trust seeks to achieve this objective
by investing equally (as of the trust’s inception and may vary thereafter) in a blend of five
proprietary strategies. Those strategies are:

− Dividend-Paying Equities: The strategy seeks to identify high-quality stocks with sustainable
cash flows and growing dividends issued by companies across a variety of industries and
sectors.
Ticketing Information − Real Estate Investment Trusts (REITs): The strategy provides access to U.S. commercial
properties through a diversified portfolio of REITs and other real estate securities.
CUSIP (Cash/Reinvest) 00780F185 / 193
Fee-Based CUSIP (Cash/Reinvest) 00780F201 / 219
− Master Limited Partnerships (MLPs): The strategy provides access to MLPs and other
Ticker Symbol DIPANX midstream energy companies.
− Preferred Securities (PFDs): The strategy provides access to a wide spectrum of the
Essential Information preferred securities market while seeking to control long-term credit and interest-rate risks.
Unit price at inception (per unit) $10.000 − Taxable closed-end funds (CEFs): The strategy targets investments in the common stock of
Initial redemption price (per unit) $9.7750 closed-end funds that invest significantly in equity, debt and other or income-producing
Initial date of deposit 2/7/2020 securities.
Portfolio ending date 2/7/2022
Cohen & Steers Capital Management, Inc. is the portfolio consultant.
Distribution frequency Monthly, if any
Number of Holdings 60 Cohen & Steers’ investment process is unique to the respective team that selects each
Historical 12-Month Distribution respective sleeve. However, each team’s investment process is integrated, combining rigorous
Rate of Trust Holdings* 6.21% bottom-up research with top down macroeconomic views which are employed in selecting
securities that are believed to present the best relative value and potential to contribute to the
*The distribution rate paid by the trust may be higher or trust’s investment objective.
lower than the amount shown above due to factors
including, but not limited to, changes in the price of trust The Power of the Blend
units, changes (including reductions) in distributions paid by
issuers, changes in actual trust expenses and sales of (Dividend-Paying Equities + REITs + MLPs + PFDs + CEFs) = potential for:
securities in the portfolio. There is no guarantee that the
issuers of the securities included in the trust will pay any − High monthly income from asset classes that generate cash flows that can rise along with
distributions in the future. The Historical 12-Month interest rates
Distribution Rate of Trust Holdings is calculated by taking
the weighted average of the regular income distributions − Attractive risk-return profile as diversified sources of income can reduce portfolio risk
paid by the securities included in the trust’s portfolio over
the 12 months preceding the trust’s date of deposit reduced − All weather performance with the ability to potentially participate when markets rise and
to account for the effects of trust fees and expenses. The cushion the impact when markets decline
percentage shown is based on a $10 unit price. This
historical rate is for illustrative purposes only and is not − Access to the combined expertise of each of Cohen & Steers’ investment teams
indicative of amounts that will actually be distributed by the
trust. Past performance is no guarantee of future results.

Sales Charges (Based on $10 unit price)+

A Historical Perspective on Interest Rates
As a % of $10 Amount per
Standard Accounts unit price 100 units After a 35-year bull market in bonds amid declining Treasury yields, investors must now contend
Initial sales fee 0.00% $0.00 with two challenges: how to earn income with yields near record lows, and how to protect against
Deferred sales fee 2.25% $22.50 rising interest rates as the Federal Reserve gradually unwinds years of easy monetary policy.
Creation & Development fee 0.50% $5.00 The Cohen & Steers Dynamic Income Portfolio offers a unique potential solution to both of these
Maximum sales fee 2.75% $27.50 questions.
As a % of $10 Amount per
Fee-Based Accounts unit price 100 units
Asset Type Breakdown
Maximum sales fee 0.50% $5.00
% of Portfolio
+The initial sales fee is the difference between the total
sales fee (maximum of 2.75% of the unit offering price) and Dividend-Paying Equities 20.32%
the sum of the remaining deferred sales fee and the total Taxable Closed-End Funds 19.98%
creation and development fee. The deferred sales fee is
fixed at $0.225 per unit and is paid in three monthly Preferred 19.94%
installments beginning May 20, 2020. The creation and REITs 19.90%
development fee is fixed at $0.05 per unit and is paid at the
end of the initial offering period (anticipated to be MLPs 19.86%
approximately three months). When the public offering Source: Bloomberg
price per unit is less than or equal to $10, you will not pay As of 2/6/2020 and may vary thereafter. Breakdowns are based on the sources
an initial sales fee. When the public offering price per unit shown and may differ from any category definitions used in selecting the trust
price is greater than $10 per unit, you will pay an initial portfolio. Page 1 of 3
sales fee. The initial and deferred sales fees may not apply
to fee-based accounts. See the prospectus for more details Advisors Asset Management, Inc. (AAM) is a SEC registered investment advisor and member FINRA/SIPC.
about fee-based account eligibility requirements.
 Cohen & Steers Dynamic Income Portfolio Series 2020-1, ADT 1990

Portfolio Holdings (as of date of deposit)

Ticker Ticker
Symbol Issue Name Symbol Issue Name
Dividend-Paying Equities (20.32%) Taxable Closed-End Funds (19.98%)
T AT&T, Inc. AWP Aberdeen Global Premier Properties Fund
DG Dollar General Corporation AOD Aberdeen Total Dynamic Dividend Fund
HRL Hormel Foods Corporation ADX Adams Diversified Equity Fund, Inc.
PM Philip Morris International, Inc. BIT BlackRock Multi-Sector Income Trust
PG The Procter & Gamble Company CHI Calamos Convertible Opportunities and Income Fund
CVX Chevron Corporation EXG Eaton Vance Tax-Managed Global Diversified Equity
OXY Occidental Petroleum Corporation
BAC Bank of America Corporation FPL First Trust New Opportunities MLP & Energy Fund
CME CME Group, Inc. GDV The Gabelli Dividend & Income Trust
JPM JPMorgan Chase & Company JCE Nuveen Core Equity Alpha Fund
RF Regions Financial Corporation HQL Tekla Life Sciences Investors
JNJ Johnson & Johnson Preferred Securities (19.94%)
MDT Medtronic PLC CHSCL CHS, Inc.
PFE Pfizer, Inc. AIG A American International Group, Inc.
CAT Caterpillar, Inc. BAC B Bank of America Corporation
AAPL Apple, Inc. GS J The Goldman Sachs Group, Inc.
AVGO Broadcom, Inc. JPM D JPMorgan Chase & Company
CSCO Cisco Systems, Inc. MS I Morgan Stanley
MSFT Microsoft Corporation WFC Q Wells Fargo & Company
NEE NextEra Energy, Inc. AMH H American Homes 4 Rent
MLPs (19.86%) CMSC CMS Energy Corporation
BPMP BP Midstream Partners LP NEE N NextEra Energy Capital Holdings, Inc.
CNXM CNX Midstream Partners LP
ENBL Enable Midstream Partners LP Industry Breakdown
ET Energy Transfer LP % of Portfolio
EPD Enterprise Products Partners LP Energy 21.88%
EQM EQM Midstream Partners LP Real Estate 19.90%
GLOP GasLog Partners LP Information Technology 4.13%
MPLX MPLX LP Financials 4.01%
PBFX PBF Logistics LP Consumer Staples 3.01%
WES Western Midstream Partners LP Health Care 3.01%
REITS (19.90%) Utilities 1.08%
DRE Duke Realty Corporation Consumer Discretionary 1.04%
ESRT Empire State Realty Trust, Inc. Communication Services 1.01%
EQIX Equinix, Inc. Industrials 1.01%
EXR Extra Space Storage, Inc. Equities Sub-Total 60.08%
HTA Healthcare Trust of America, Inc. Financials 11.96%
MAC The Macerich Company Utilities 3.99%
PSA Public Storage Real Estate 2.00%
SRC Spirit Realty Capital, Inc. Consumer Staples 1.99%
UDR UDR, Inc. Preferred Sub-Total 19.94%
VICI VICI Properties, Inc. Equities & Preferred Total 80.02%
Source: Global Industrial Classification Standards
As of 2/6/2020 and does not include Closed-End Funds. Breakdowns are based on the sources
shown and may differ from any category definitions used in selecting the trust portfolio.

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 Cohen & Steers Dynamic Income Portfolio Series 2020-1, ADT 1990

Unit Investment Trusts (UITs) are sold only by prospectus. You should consider the trust’s investment objectives, risks, charges and expenses
carefully before investing. Contact your financial professional or visit Advisors Asset Management online at www.aamlive.com/uit to obtain a
prospectus, which contains this and other information about the trust. Read it carefully before you invest.

Risks and Considerations: Unit values will fluctuate with the portfolio of underlying securities and may be worth more or less than the original purchase price at
the time of redemption. There is no guarantee that the objective of the portfolio will be achieved. Additionally, the trust may terminate earlier than the specific
termination date as stated in the prospectus. Consult your tax advisor for possible tax consequences associated with this investment. An investment in this
unmanaged unit investment trust should be made with an understanding of the risks associated therewith that includes, but is not limited to:
Closed-End Funds Investment: Risks include higher interest rates, economic recession, deterioration of the bond and equity market, possible downgrades, early
call provisions, changes to the tax status of the bonds and defaults of interest and/or principal. Shares of closed-end funds are also subject to various risks,
including management's ability to meet the fund's investment objective, and to manage the fund's portfolio when securities are redeemed or sold, during periods of
market turmoil and as investor perceptions regarding the funds or their underlying investments change. In addition, closed-end funds frequently trade at a discount
to their net asset value in the secondary market.
Common Stocks: An investment in common stocks should be made with an understanding of the various risks of owning common stock, such as an economic
recession and the possible deterioration of either the financial condition of the issuers of the equity securities or the general condition of the stock market.
Dividend Payment Risk: An issuer of a security may be unwilling or unable to pay income on a security. Common stocks do not assure dividend payments and
are paid only when declared by an issuer’s board of directors. The amount of any dividend may vary over time.
Foreign Securities: Securities of foreign issuers present risks beyond those of U.S. issuers which 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.
Interest Rate Risk: Interest rate risk is the risk that the value of bonds held by a closed-end fund will fall if interest rates increase. The securities held by the closed
-end funds typically fall in value when interest rates rise and rise in value when interest rates fall. The securities held by the closed-end funds with longer periods
before maturity are often more sensitive to interest rate changes.
Long-Term Strategy: Although this unit investment trust terminates in approximately 2 years, the strategy is long term. Investors should consider their ability to
pursue investing in successive portfolios, if available, as well as the tax consequences involved with rolling one trust into another.
Master Limited Partnerships (MLPs): MLPs are generally taxed as partnerships whose interests are generally traded on a securities exchanges. Most MLPs
generally operate in the energy natural resources or real estate sector and are subject to the risks generally applicable to companies in those sectors. Those risks
include, but are not limited to, commodity pricing risk, supply and demand risk, depletion risk and exploration risk. MLPs are also subject to the risk that 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 trust’s investments.
Preferred Securities: An investment in preferred securities should be made with an understanding of the various risks of owning preferred securities such as an
economic recession, volatile interest rates and the possible deterioration of either the financial condition of the issuers of the preferred securities or the general
condition of the stock market. Preferred securities do not generally have the growth potential of common stocks. They are also sensitive to changes in interest rates
and their market price generally falls with rising interest rates. Preferred securities are more likely to be called for redemption in a declining interest rate
environment. In addition, in the event of an issuer's bankruptcy, preferred securities will not be repaid until the issuer's other debt securities, which have priority,
have been satisfied. Preferred securities are equity securities of the issuing company which pay income in the form of dividends.
REITs: An investment in a portfolio containing Real Estate Investment Trust (REIT) securities is subject to additional risks, as companies involved in the real estate
market, vacancy rates and competition, volatile interest rates and economic recession.
The Morningstar Equity Style Box™: This table provides a graphical representation of the investment style of a trust based on holdings as of the date of deposit
which may vary thereafter. The Morningstar Equity Style Box™ placement is based on the Morningstar market capitalization classification (determined relative to
other stocks in the same geographic area) of the stocks in the trust's portfolio (vertical axis), and by comparing the growth and value characteristics of the stocks in
the trust's portfolio with growth and value factors developed by Morningstar (horizontal axis). [Value, blend and growth are types of investment styles. Growth
investing generally seeks stocks that offer the potential for greater-than-average earnings growth, and may entail greater risk than value or blend investing. Value
investing generally seeks stocks that may be sound investments but are temporarily out of favor in the marketplace, and may entail less risk than growth
investing. A blended investment combines the two styles. ©2020 Morningstar, Inc. All Rights Reserved. The information contained herein relating to the
Morningstar Equity Style Box™: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be
accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.
Securities are available through your financial professional. Not FDIC Insured. Not Bank Guaranteed. May Lose Value.
For informational purposes only and not a recommendation to purchase or sell any security.
©2020 Advisors Asset Management
Advisors Asset Management, Inc. (AAM) is a SEC registered investment advisor and member FINRA/SIPC.
18925 Base Camp Road | Monument, CO 80132 | www.aamlive.com | CRN: 2018-1102-7007 R Link 5617

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