Continue to site >
Trending ETFs

Kelly Residential & Apartment Real Estate ETF

ETF
RESI
Payout Change
Suspended
Price as of:
$9.6591 -0.13 -1.29%
primary theme
N/A
RESI (ETF)

Kelly Residential & Apartment Real Estate ETF

Payout Change
Suspended
Price as of:
$9.6591 -0.13 -1.29%
primary theme
N/A
RESI (ETF)

Kelly Residential & Apartment Real Estate ETF

Payout Change
Suspended
Price as of:
$9.6591 -0.13 -1.29%
primary theme
N/A

Name

As of 11/29/2023

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$9.66

$722 K

0.00%

$0.00

0.68%

Vitals

YTD Return

-2.3%

1 yr return

-6.8%

3 Yr Avg Return

N/A

5 Yr Avg Return

N/A

Net Assets

$722 K

Holdings in Top 10

62.9%

52 WEEK LOW AND HIGH

$9.8
$8.96
$11.63

Expenses

OPERATING FEES

Expense Ratio 0.68%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A


Min Investment

Standard (Taxable)

N/A

IRA

N/A


Fund Classification

Fund Type

Exchange Traded Fund


Name

As of 11/29/2023

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$9.66

$722 K

0.00%

$0.00

0.68%

RESI - Profile

Distributions

  • YTD Total Return -2.3%
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio N/A
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    Kelly Residential & Apartment Real Estate ETF
  • Fund Family Name
    N/A
  • Inception Date
    Jan 13, 2022
  • Shares Outstanding
    N/A
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Ernesto Tong

Fund Description

The Fund employs a “passive management” (or indexing) investment approach designed to track the total return performance, before fees and expenses, of the Index. The Index is based on a proprietary methodology developed and maintained by Strategic Indexes, LLC (the “Index Provider”), an affiliate of Kelly Strategic Management, LLC, the Fund’s investment adviser (the “Adviser”). Unlike many investment companies, the Fund does not try to “beat” the Index and does not seek temporary defensive positions when markets decline or appear overvalued other than those indicated in the Index.
The Fund will generally use a “replication” strategy to achieve its investment objective, meaning the Fund will generally invest in all of the component securities of the Index in the same approximate proportions as in the Index. However, the Fund may use a “representative sampling” strategy, meaning it may invest in a sample of the securities in the Index whose risk, return, and other characteristics closely resemble the risk, return, and other characteristics of the Index as a whole, when the Fund’s Sub-Adviser believes it is in the best interests of the Fund (e.g., when replicating the Index involves practical difficulties or substantial costs, an Index constituent becomes temporarily illiquid, unavailable, or less liquid, or as a result of legal restrictions or limitations that apply to the Fund but not to the Index).
The Fund is considered to be non-diversified, which means that it may invest more of its assets in the securities of a single issuer or a smaller number of issuers than if it were a diversified fund.
The Index
The Index is a rules-based index that consists of U.S.- and Canada-listed companies engaged in the following (“Residential and Apartment Real Estate Business”):
Apartment Buildings Owning and operating apartment buildings.
Single-Family Rental Homes Activities focusing on single-family rental homes.
Student Housing Owning and operating real estate with a focus on leasing to students.
Manufactured Homes Owning and operating in the manufactured home segment. This includes companies operating mobile home or RV parks.
Construction of the Index begins with equity securities listed on an exchange in a developed country. Companies are then considered for inclusion in the Index based on an analysis of the company’s source of revenues and profits. A company is eligible for inclusion in the Index if, according to a public filing, it generates a majority of its revenue or profits from one of the activities described above (“Residential and Apartment Real Estate Companies”). The Index Provider screens for the source of a company’s revenues and profits using information in regulatory filings (e.g., financial statements, annual reports, investor presentations), analyst reports, and industry-specific trade publications.
Equity securities included in the Index include common stocks, real estate investment trusts (“REITs”), depositary receipts, and preferred stocks. As of October 31, 2022, companies listed in the following countries were eligible for inclusion in the Index: Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Ireland, Israel, Italy, Japan, Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland, the United Kingdom, and the United States. Eligible Companies identified by the Index Provider are added to the Index, subject to meeting the investibility requirements described below. The Index may include small-, mid-, and large-capitalization companies. The Index is subject to a maximum of 60 constituents. Where the number of eligible constituents exceeds the maximum allowable, the Fund will rank the constituents by float adjusted market capitalization and take the largest constituents until it has reached the maximum number allowed.
At the time of each quarterly rebalance and reconstitution of the Index, Index constituents must meet investibility requirements, including:
a market capitalization of at least $300 million;
a 3-month average daily traded value greater than or equal to $1 million;
a free float (i.e., the proportion of shares that are publicly available) of at least 20%; and
a trading price of not greater than $50,000.
The Index is reconstituted and rebalanced (i.e., companies are added or deleted and weights are reset based on Index rules) quarterly, after the close of business on the third Friday of each of March, June, September, and December (the “Rebalance Date”). For each rebalance and reconstitution of the Index, Index constituents are determined based on data as of the last business day in each of February, May, August, and November (the “Selection Date”). As of each rebalance date, each constituent is market capitalization-weighted, subject to a maximum of 7.5% weight and a minimum of 0.25% weight for each constituent. Any weight removed from an index’s constituents due to a limit is combined, and the combined weight then distributed proportionately (according to their index weighting) across the uncapped constituents of the index.The Fund rebalances its portfolio in accordance with its Index, and, therefore, any changes to the Index’s rebalance schedule will result in corresponding changes to the Fund’s rebalance schedule.
As of September 30, 2022, the Index had 27 constituents, 6 of which were listed on a non-U.S. exchange. The Index was established in 2021 and is owned by the Index Provider.
A significant portion of the Index is expected to be composed of real estate investment trusts (“REITs”). The Index will include non-U.S. holdings and U.S. holdings may have significant foreign operations.
The Fund’s Investment Strategy
Under normal circumstances, the Fund invests at least 80% of its net assets (plus borrowings for investment purposes) in Residential and Apartment Real Estate Companies.The foregoing policy may be changed without shareholder approval upon 60 days’ written notice to shareholders.
To the extent the Index concentrates (i.e., holds more than 25% of its total assets) in any industry or group of related industries, the Fund will concentrate its investments to approximately the same extent as the Index. As of September 30, 2022, the Index was concentrated in companies in the residential & apartment (“multifamily”) management and operational services industries.
Read More

RESI - Performance

Return Ranking - Trailing

Period RESI Return Category Return Low Category Return High Rank in Category (%)
YTD -2.3% -49.2% 11.9% N/A
1 Yr -6.8% -47.4% 116.8% N/A
3 Yr N/A* -21.4% 30.0% N/A
5 Yr N/A* -14.5% 17.5% N/A
10 Yr N/A* -9.4% 11.0% N/A

* Annualized

Return Ranking - Calendar

Period RESI Return Category Return Low Category Return High Rank in Category (%)
2023 N/A -51.3% 81.2% 9.86%
2022 N/A -21.3% 31.3% 0.36%
2021 N/A -14.7% 41.4% 0.39%
2020 N/A -26.4% 9.4% 100.00%
2019 N/A -10.9% 7.8% 0.85%

Total Return Ranking - Trailing

Period RESI Return Category Return Low Category Return High Rank in Category (%)
YTD -2.3% -49.2% 11.9% N/A
1 Yr -6.8% -47.4% 116.8% N/A
3 Yr N/A* -21.4% 30.0% N/A
5 Yr N/A* -14.5% 20.9% N/A
10 Yr N/A* -9.4% 13.9% N/A

* Annualized

Total Return Ranking - Calendar

Period RESI Return Category Return Low Category Return High Rank in Category (%)
2023 N/A -51.3% 81.2% 9.86%
2022 N/A -21.3% 31.3% 0.36%
2021 N/A -14.7% 41.4% 0.39%
2020 N/A -26.4% 9.4% 100.00%
2019 N/A -10.7% 8.2% 1.70%

RESI - Holdings

Concentration Analysis

RESI Category Low Category High RESI % Rank
Net Assets 722 K 1.28 M 78.4 B 100.00%
Number of Holdings 27 20 642 91.55%
Net Assets in Top 10 495 K 7.44 K 35.2 B 99.66%
Weighting of Top 10 62.92% 15.9% 99.8% 5.54%

Top 10 Holdings

  1. Essex Property Trust Inc 8.00%
  2. Equity Residential 7.74%
  3. AvalonBay Communities Inc 7.65%
  4. Invitation Homes Inc 7.31%
  5. Mid-America Apartment Communities Inc 7.15%
  6. Sun Communities Inc 7.01%
  7. Equity LifeStyle Properties Inc 4.62%
  8. American Homes 4 Rent 4.58%
  9. Camden Property Trust 4.48%
  10. UDR Inc 4.38%

Asset Allocation

Weighting Return Low Return High RESI % Rank
Stocks
99.15% 0.01% 106.94% 33.78%
Cash
0.85% -98.06% 25.84% 65.20%
Preferred Stocks
0.00% -0.12% 33.96% 62.84%
Other
0.00% -1.70% 94.17% 64.86%
Convertible Bonds
0.00% 0.00% 10.95% 59.80%
Bonds
0.00% -3.17% 97.45% 61.82%

Stock Sector Breakdown

Weighting Return Low Return High RESI % Rank
Utilities
0.00% 0.00% 9.09% 56.94%
Technology
0.00% 0.00% 12.02% 66.90%
Real Estate
0.00% 34.46% 100.00% 22.78%
Industrials
0.00% 0.00% 7.39% 60.50%
Healthcare
0.00% 0.00% 0.53% 57.65%
Financial Services
0.00% 0.00% 37.05% 61.92%
Energy
0.00% 0.00% 33.11% 58.01%
Communication Services
0.00% 0.00% 11.61% 60.50%
Consumer Defense
0.00% 0.00% 1.53% 56.94%
Consumer Cyclical
0.00% 0.00% 45.29% 78.65%
Basic Materials
0.00% 0.00% 13.69% 58.36%

Stock Geographic Breakdown

Weighting Return Low Return High RESI % Rank
US
82.68% 0.01% 101.17% 80.07%
Non US
16.47% 0.00% 44.90% 4.39%

RESI - Expenses

Operational Fees

RESI Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.68% 0.07% 4.72% 81.02%
Management Fee 0.68% 0.00% 1.50% 38.64%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.45% N/A

Sales Fees

RESI Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 5.75% N/A
Deferred Load N/A 1.00% 2.25% N/A

Trading Fees

RESI Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

RESI Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.11% 380.00% N/A

RESI - Distributions

Dividend Yield Analysis

RESI Category Low Category High RESI % Rank
Dividend Yield 0.00% 0.00% 20.32% 80.47%

Dividend Distribution Analysis

RESI Category Low Category High Category Mod
Dividend Distribution Frequency None Quarterly Monthly Monthly

Net Income Ratio Analysis

RESI Category Low Category High RESI % Rank
Net Income Ratio N/A -1.14% 6.05% N/A

Capital Gain Distribution Analysis

RESI Category Low Category High Capital Mode
Capital Gain Distribution Frequency

Distributions History

View More +

RESI - Fund Manager Analysis

Managers

Ernesto Tong


Start Date

Tenure

Tenure Rank

Jan 12, 2022

0.38

0.4%

Mr. Tong has been a managing director with Penserra since 2015. Prior to joining Penserra, Mr. Tong spent seven years as a vice president at Blackrock, where he was a portfolio manager for a number of the iShares ETFs, and prior to that, he spent two years in the firm’s index research group.

Dustin Lewellyn


Start Date

Tenure

Tenure Rank

Jan 12, 2022

0.38

0.4%

Dustin Lewellyn, CFA. Mr. Lewellyn has extensive background in institutional investment process with a specific focus on exchange-traded funds (“ETFs”). Mr. Lewellyn was a portfolio manager at BGI (now part of Blackrock), and he managed a number of international equity funds. Dustin also was head of ETF product management and product development at Northern Trust where he oversaw the build out and management of all areas of a new ETF business, including primary responsibility for the portfolio management process surrounding the ETFs. Mr. Lewellyn also built and ran a new ETF business for Charles Schwab, including having primary responsibility for the technology and investment process to support portfolio management for the ETFs. Mr. Lewellyn started a consulting business with a focus on ETFs and helped numerous new ETF sponsors, as well as service providers, understand the resource requirements to participate in the industry utilizing current best practices. Mr. Lewellyn holds a B.A. from University of Iowa and is a CFA Charterholder. He also holds security licenses 7, 63, 66 and 24.

Anand Desai


Start Date

Tenure

Tenure Rank

Jan 12, 2022

0.38

0.4%

Anand Desai. Mr. Desai has been an Associate with Penserra since 2015. Prior to joining the Penserra Capital Management, LLC, Mr. Desai was a portfolio fund accountant at State Street for five years.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.01 28.42 7.92 2.23