ISHARES TR

Ticker: CMBS CUSIP: 46429B366 Class: CMBS ETF

Sage Advisory Services, Ltd.Co.'s Holding History (CIK: 0001534378)

Note: Option positions (PUT/CALL) are excluded.

Q3 2016

Shares 443,196 Value ($000) $23,507 Avg Close — Range —

Q2 2016

Shares 447,726 Value ($000) $23,765 Avg Close — Range —

Q1 2016

Shares 218,125 Value ($000) $11,347 Avg Close — Range —

Period	Shares	Value ($000)	Average Close	Price Range
Q3 2016	443,196	$23,507	—	—
Q2 2016	447,726	$23,765	—	—
Q1 2016	218,125	$11,347	—	—