The ALPS Medical Breakthroughs ETF invests in the public equity markets of the United States. It invests in the stocks of companies operating in the biotechnology and pharmaceutical sectors. The fund invests in stocks of mid cap and small cap companies with a market capitalization of no less than $200 million and no more than $5 billion. It seeks to replicate the performance of the Poliwogg Medical Breakthroughs Index, by investing in the stocks of companies as per their weightings in the index.