EX-99.77B ACCT LTTR

REPORT OF INDEPENDENT REGISTERED
PUBLIC ACCOUNTING FIRM


To the Board of Trustees RevenueShares ETF Trust
and the Shareholders of the RevenueShares Large Cap Fund,
the RevenueShares Mid Cap Fund, the RevenueShares Small
Cap Fund
the RevenueShares Financials Sector Fund, the
RevenueShares ADR Fund
and the RevenueShares Navellier Overall A-100 Fund


In planning and performing our audits of the financial
statements of the RevenueShares Large Cap Fund, the
RevenueShares MidCap Fund, the RevenueShares Small Cap
Fund, the RevenueShares Financials Sector Fund, the
RevenueShares ADR Fund, and the RevenueShares Navellier
Overall A-100 Fund (the Funds), each a series of shares of
the RevenueShares ETF Trust, as of and for the year ended
June 30, 2012, in accordance with the standards of the Public
Company Accounting Oversight Board (United States), we
considered their internal control over financial reporting,
including control activities for safeguarding securities, as a
basis for designing our auditing procedures for the purpose of
expressing our opinion on the financial statements and to
comply with the requirements of Form N-SAR, but not for the
purpose of expressing an opinion on the effectiveness of the
Funds internal control over financial reporting.  Accordingly, we
express no such opinion.

The management of RevenueShares ETF Trust is responsible
for establishing and maintaining effective internal control over
financial reporting.  In fulfilling this responsibility, estimates and
judgments by management are required to assess the expected
benefits and related costs of controls.  A companys internal
control over financial reporting is a process designed to
provide reasonable assurance regarding the reliability of
financial reporting and the preparation of financial statements
for external purposes in accordance with accounting principles
generally accepted in the United States of America (GAAP).  A
company's internal control over financial reporting includes
those policies and procedures that (1) pertain to the
maintenance of records that, in reasonable detail, accurately
and fairly reflect the transactions and dispositions of the assets
of the company; (2) provide reasonable assurance that
transactions are recorded as necessary to permit preparation of
financial statements in accordance with GAAP, and that
receipts and expenditures of the company are being made only
in accordance with authorizations of management and trustees
of the company; and (3) provide reasonable assurance
regarding prevention or timely detection of unauthorized
acquisition, use or disposition of a companys assets that
could have a material effect on the financial statements.

Because of inherent limitations, internal control over financial
reporting may not prevent or detect misstatements.  Also,
projections of any evaluation of effectiveness to future periods
are subject to the risk that controls may become inadequate
because of changes in conditions or that the degree of
compliance with the policies or procedures may deteriorate.

A deficiency in internal control over financial reporting exists
when the design or operation of a control does not allow
management or employees, in the normal course of performing
their assigned functions, to prevent or detect misstatements on
a timely basis. A material weakness is a deficiency, or a
combination of deficiencies, in internal control over financial
reporting, such that there is a reasonable possibility that a
material misstatement of the Funds annual or interim financial
statements will not be prevented or detected on a timely basis.

Our consideration of the Funds internal control over financial
reporting was for the limited purpose described in the first
paragraph and would not necessarily disclose all deficiencies in
internal control that might be material weaknesses under
standards established by the Public Company Accounting
Oversight Board (United States).  However, we noted no
deficiencies in the internal control over financial reporting and
its operations, including controls for safeguarding securities
that we consider to be material weaknesses, as defined above,
as of June 30, 2012.

This report is intended solely for the information and use of
management, shareholders and the Board of Trustees of
RevenueShares ETF Trust, and the Securities and Exchange
Commission and is not intended to be and should not be used
by anyone other than these specified parties.


BBD, LLP


Philadelphia, Pennsylvania
August 24, 2012

EX-99.77K CHNG ACCNT

TYPE EX 99.77K CHNG ACCNT
3
letter77k.txt
DESCRIPTION CHANGE IN AUDITOR
TEXT
(i)On April 27, 2012 the Audit Committee and
Board of
Trustees of RevenueShares ETF Trust (the
Registrant)
terminated the services of Ernst & Young, LLP
(E&Y)
as independent registered public accounting firm
to the Registrant.
(ii)The reports of E&Y on the financial
statements for the fiscal years ended June 30,
2011 and 2010 did not contain any adverse
opinion or disclaimer of opinion, nor were they
qualified or modified as to uncertainty, audit
scope or accounting principle.
(iii)In connection with the audits for the two
most recent fiscal
periods and through April 27, 2012, there have
been no
disagreements between the Registrant and E&Y on
any matter of accounting principles, financial
statement disclosure, or audit scope, which if
not resolved to the satisfaction of E&Y would
have caused them to make reference to the
disagreement in their report on the financial
statements for such years.
(iv)During the two most recent fiscal periods
and through
April 27, 2012, there have been no reportable
events (as defined in Regulation S-K Item
304(a)(1)(v)).
(v)The Registrant has requested that E&Y furnish
it with a letter addressed to the SEC stating
whether or not it agrees with the
above statements.  A copy of such letter, dated
August 28, 2012,
is filed as Exhibit Q1 to Item 77K.
(vi)Following approval from the Board of
Trustees, the Registrant
engaged BBD, LLP (BBD) as its new independent
registered public accounting firm on April 27,
2012.  During the
Registrants two most recent fiscal periods and
through
April 27, 2012 the Registrant did not consult
with E&Y
with respect to the application of accounting
principles to a
specified transaction, either completed or
proposed, or the type
of audit opinion that might be rendered on the
Registrants financial
statements, or any other matters or reportable
events as set forth in
Items 304(a)(1)(iv) and (v) of Regulation S-K.

EX-99.77Q1 OTHR EXHB

Exhibit to Form N-SAR
Filed in Response to N-SAR Item 77K
Reg S-K Item 304(a)(3) Requirement



August 28, 2012

Securities and Exchange Commission
100 F Street, N. E.
Washington, D.C. 20549

Gentlemen:

We have read Item 77K of Form N-SAR, dated
August 28, 2012, of RevenueShares ETF Trust
and are in agreement with the statements
contained therein.


Yours very truly,

//s//ERNST & YOUNG, LLP//s//