Perhaps Smart Beta, By Itself, Is Not So Smart

The information presented in this report is based on data obtained from third party sources. Although it is believed to be accurate, no representation or warranty is made as to its accuracy or completeness.

The views and opinions expressed throughout this presentation are those of our Portfolio Manager as of July 18th, 2017. The opinions and outlooks may change over time with changing market conditions or other relevant variables.

Factor investments concentrate in a particular industry and the investments’ performance could depend heavily on the performance of that industry and be more volatile than the performance of less concentrated investment options and the market as a whole.

The Standard & Poor’s (S&P) 500® Index is an unmanaged index that tracks the performance of 500 widely held, large-capitalization U.S. stocks. Indices are not managed and do not incur fees or expenses.

S&P is a registered trademark of Standard & Poor’s Financial Services, LLC (S&P), a part of

McGraw Hill Financial, Inc.

The CBOE Volatility Index (VIX) is a registered trademark of Chicago Board Options Exchange,

Incorporated. All index names of the Barclays indices are trademarks of Barclays Bank PLC.

MSCI is the trademark of MSCI Inc. and/or its subsidiaries.

The MSCI World Index is a free float-adjusted market capitalization weighted index that is

designed to measure the equity market performance of developed markets. As of September 2016 the MSCI World Index consisted of the following 23 developed market country indices: Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Hong Kong, Ireland, Israel, Italy, Japan, Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland, the United Kingdom, and the United States.

Beaumont Capital Management is a separate division of Beaumont Financial Partners, LLC. 250 1st Avenue, Needham, MA 02494. 844-401-7699. Copyright © 2017 Beaumont Financial Partners, LLC. All rights reserved.