SNLN Highland iBoxx Senior Loan

Highland/iBoxx Senior Loan ETF (the “Fund”) (NYSE: SNLN) declared a regular distribution, for January 2015, of $0.070 per share, payable on the last business day of the month to holders of record at the close of business January 20, 2015.

Distributions       Payment Date Amount Ordinary     ST Cap Gain     LT Cap Gain     Total

January 30, 2015

$ 0.070 $ — $ — $ 0.070 December 31, 2014 $ 0.064 $ — $ — $ 0.064 November 28, 2014 $ 0.063 $ — $ — $ 0.063 October 31, 2014 $ 0.047 $ — $ — $ 0.047 September 30, 2014 $ 0.054 $ — $ — $ 0.054 August 29, 2014 $ 0.077 $ — $ — $ 0.077 July 31, 2014 $ 0.073 $ — $ — $ 0.073 June 30, 2014 $ 0.083 $ — $ — $ 0.083 May 31, 2014 $ 0.069 $ — $ — $ 0.069 April 30, 2014 $ 0.076 $ — $ — $ 0.076 March 31, 2014 $ 0.078 $ — $ — $ 0.078 February 28, 2014 $ 0.078 $ — $ — $ 0.078  

The distribution amount is based on an estimation of investment income and may or may not include a return of capital. The distribution amount is based solely on actual distributions, which are made at the discretion of the Fund. As of January 14, 2015 the 30 Day SEC Yield was 4.73% and the 30 Day Unsubsidized Yield was 4.56%.

Total Returns as of 12/31/14     1 Month     3 Month     YTD     1 Year     Since Inception* (11/6/12) Highland/iBoxx Senior Loan ETF (NAV)     -1.25%     -0.34%     0.71%     0.71%     3.08% Highland/iBoxx Senior Loan ETF (Market Price)     -1.61%     -0.55%     0.40%     0.40%     2.89%

*Based on Annualized Since Inception Return.

Total operating expense as of the most recent fund prospectus is 0.92%. The Adviser has contractually agreed to limit the total annual operating expenses (exclusive of taxes, brokerage commissions and other transaction costs, acquired fund fees and expenses and extraordinary expenses) of the Fund to 0.55% of average daily net assets of the Fund. This will continue through at least October 31, 2015. In the absence of current fee waivers, total return and yield would be reduced. Performance data represents past performance, which does not guarantee future results. Current performance may be higher or lower than the figures shown. Investment return and principal value will fluctuate with market conditions, and you may have a gain or loss when you sell your shares. For most recent month end performance, please call 1-855-799-4757.

This press release is not for tax reporting purposes but is being provided to announce the amount of the Fund’s distributions that have been declared by the Fund. In early 2015, after definitive information is available, the Fund will send shareholders a Form 1099-DIV specifying how the distributions paid by the Fund during the calendar year should be characterized for purposes of reporting the distributions on a shareholder’s tax return (e.g., ordinary income, short-term capital gain, long-term capital gain or return of capital).

About Highland Capital Management

Highland Capital Management is an SEC-registered investment adviser which, together with its affiliates, has approximately $19 billion of assets under management. Founded in 1993 by Jim Dondero and Mark Okada, Highland is one of the largest and most experienced global alternative credit managers. Highland’s strategies include collateralized loan obligations (CLOs), high yield bonds, distressed credit, public and private equities, structured products and natural resources.

Investors should consider the investment objectives, risks, charges and expenses of the Highland/iBoxx Senior Loan ETF carefully before investing. This and other information can be found in the Fund's summary and full prospectuses, which may be obtained by calling 1-855-799-4757 or visiting www.highlandfunds.com. Please read the prospectus carefully before you invest.

Securities may be offered through NexBank Securities, Inc., an affiliate of Highland Capital Management, L.P. NexBank Securities, Inc., member FINRA/SIPC.

To receive a distribution, you must be a registered shareholder of the fund on the record date. Distributions are paid to shareholders on the payment date. There is no guarantee that capital gains distributions will not be made in the future. Your own trading will also generate tax consequences and transaction expenses. Past distributions are not indicative of future distributions. Please consult your tax professional or financial adviser for more information regarding your tax situation.

Investing involves risk, including the possible loss of principal. The risks associated with Senior Loans are similar to the risks of below investment grade securities, although Senior Loans are typically senior and secured in contrast to other below investment grade securities, which are often subordinated and unsecured. Below investment grade securities may involve greater levels of interest rate, credit, liquidity, and valuation risk than higher-rated instruments. Narrowly focused funds typically exhibit higher volatility.

Highland Capital Management Fund Advisors, L.P. serves as an advisor to the Highland funds. The Highland/iBoxx Senior Loan ETF is distributed by SEI Investments Distribution Co., which is not affiliated with Highland Capital Management Fund Advisors, L.P. or any of its affiliates.

Highland Capital ManagementShareholder Services, 855-799-4757info@highlandfunds.comorMedia Related Inquiries:Daniel Martin, 972-628-4100info@highlandfunds.com