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Trending ETFs

WBI BullBear Quality 3000 ETF

Active ETF
WBIL
Payout Change
Pending
Price as of:
$34.3608 -0.02 -0.06%
primary theme
U.S. Large-Cap Blend Equity
WBIL (ETF)

WBI BullBear Quality 3000 ETF

Payout Change
Pending
Price as of:
$34.3608 -0.02 -0.06%
primary theme
U.S. Large-Cap Blend Equity
WBIL (ETF)

WBI BullBear Quality 3000 ETF

Payout Change
Pending
Price as of:
$34.3608 -0.02 -0.06%
primary theme
U.S. Large-Cap Blend Equity

Name

As of 03/26/2024

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

WBI BullBear Quality 3000 ETF

WBIL | Active ETF

$34.36

$44.6 M

0.13%

$0.04

1.65%

Vitals

YTD Return

11.3%

1 yr return

25.8%

3 Yr Avg Return

7.1%

5 Yr Avg Return

6.6%

Net Assets

$44.6 M

Holdings in Top 10

63.8%

52 WEEK LOW AND HIGH

$34.4
$27.26
$34.65

Expenses

OPERATING FEES

Expense Ratio 1.65%

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 03/26/2024

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

WBI BullBear Quality 3000 ETF

WBIL | Active ETF

$34.36

$44.6 M

0.13%

$0.04

1.65%

WBIL - Profile

Distributions

  • YTD Total Return 11.3%
  • 3 Yr Annualized Total Return 7.1%
  • 5 Yr Annualized Total Return 6.6%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 0.43%
DIVIDENDS
  • Dividend Yield 0.1%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    WBI BullBear Quality 3000 ETF
  • Fund Family Name
    Absolute Shares Trust
  • Inception Date
    Aug 25, 2014
  • Shares Outstanding
    1327182
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Donald Schreiber

Fund Description

The Fund will seek to invest in the equity securities of small-capitalization, mid-capitalization, and large-capitalization domestic and foreign companies that WBI Investments, LLC, the sub-advisor (“Sub-Advisor”) to the Fund, and an affiliate of Millington Securities, LLC, the advisor (“Adviso”), believes display attractive prospects for growth in a company’s intrinsic value, and in other tactical investment opportunities.
These securities will be selected on the basis of the Sub-Advisor’s investment process which includes a buy and sell discipline. The Fund’s buy discipline is primarily driven by the Sub-Advisor’s proprietary selection process (“Selection Process”), as described further below. Cash and cash equivalents are some of the investment opportunities evaluated by the Selection Process. From time to time, the Fund may invest in and hold a significant percentage of its net assets in cash or cash equivalents as part of the normal operation of its investment strategy.
Large-capitalization companies are those that have higher market capitalization than small- and mid-capitalization companies in their primary market when ranked in order of market capital. For publicly traded U.S. companies in the current environment, this would include companies with market capitalizations of greater than approximately $10 billion. Conversely, small-capitalization and mid-capitalization companies are those that have lower market capitalization than large-capitalization companies in their primary market. For publicly-traded U.S. companies in the current environment, this would include companies with market capitalizations of less than approximately $10 billion. Each of large-, small- and mid-capitalization companies in non-U.S. markets may have capitalizations that differ from this U.S. Dollar equivalent amount because of the wide variation in the range of market capitalizations of companies available for investment in those markets.
The types of equity securities in which the Fund will generally invest include common stocks, preferred stocks, rights, warrants, convertibles, exchange-traded funds (“ETFs”), real estate investment trusts (“REITs”) and master limited partnerships (businesses organized as partnerships which trade on public exchanges) (“MLPs”). The types of debt securities in which the Fund will generally invest (or through which it will seek debt exposure) include fixed, floating, and variable rate corporate debt securities, U.S. Government securities, debt securities of foreign issuers, sovereign debt securities, U.S. Government agency securities, high-yield bonds (also known as “junk bonds”), ETFs, and exchange-traded notes (“ETNs”). An ETN is an unsecured debt security that trades on an established exchange. Its underlying value is determined by reference to an index, commodity, interest rate, or other objectively determined reference. The Fund expects to invest in debt securities of all maturities, from less than one year up to thirty years, depending on the portfolio managers’ assessment of the risks and opportunities along the yield curve. (The yield curve refers to differences in yield among debt assets of varying maturities).
The Fund may invest in domestic and foreign debt securities, ETFs, ETNs, and/or in option strategies to enhance the Fund’s returns or to mitigate risk and volatility. Equity option strategies used by the Fund for individual securities include writing (selling) covered calls, buying calls or puts, and using combinations of calls and puts. The Fund may also use options on indices.
The Fund may invest without limitation in securities of small-capitalization, mid-capitalization, and large-capitalization foreign issuers, and may invest up to 50% of its net assets in the securities of issuers in emerging markets. The Fund may invest up to 20% of its net assets in high-yield bonds.
The Fund may also invest in other investment companies, including other ETFs, up to the limits specified in the Investment Company Act of 1940 (“1940 Act”) or in reliance on exemptions therefrom.
Although the Fund is limited as to the percentage of its net assets that may be directly invested in certain asset classes, the Fund may obtain investment exposure to such asset classes in excess of such limits by investing indirectly in such asset classes through other investment companies, including other ETFs with exposure to such asset classes. Consequently, investments in such pooled investment vehicles may result in aggregate direct and indirect investment exposure to an asset class in excess of the limit up to which the applicable Fund may invest directly in such assets.
The investment process used for the Fund attempts to provide consistent, attractive returns net of expenses with potentially less volatility and risk to capital than traditional approaches, whatever market conditions may be. This is the Fund’s definition of an absolute return approach to investment management, and such an approach is used (in part) to achieve the Fund’s investment objective.
The Sub-Advisor uses quantitative computer screening of fundamental information to evaluate securities in an attempt to find companies and investment opportunities with attractive financial stability characteristics. Dividend or interest payments may be considered as part of the evaluation process. Once securities are identified, an overlay of technical analysis may be used to confirm timeliness of security purchases.
The Sub-Advisor also attempts to identify the appropriate duration and credit quality of any exposure to debt securities. Duration is a measure of a fixed income security’s expected price sensitivity to changes in interest rates. Credit quality is a measure of a borrower’s creditworthiness or risk of default. A portion of the Fund’s exposure may also be invested to pursue perceived tactical opportunities in varying segments of the equity or debt markets. The Sub-Advisor then purchases qualifying securities using available cash. This systematic process of identifying, evaluating, and purchasing securities constitutes the Sub-Advisor’s buy discipline for the Fund.
Once securities are purchased, the Sub-Advisor maintains a sell discipline that attempts to control the effects of the volatility of each Fund asset on the Fund’s NAV. This sell discipline, together with the buy discipline, constitutes the Fund’s strategy to achieve its investment objective. If a Fund asset’s price stays within a range of acceptable prices, the Fund asset will continue to be held. If a Fund asset’s price falls below the bottom of an acceptable price range, the Fund asset will be identified to sell. This results in a responsive process that actively adjusts the Fund’s allocation by causing it to become more fully invested, or by raising cash to protect capital. During periods of high market volatility, a significant amount of Fund holdings may be sold, resulting in a significant allocation to cash or cash equivalents in the Fund.
The Fund is an actively managed ETF. The Sub-Advisor actively manages the Fund’s portfolio. As a result, the portfolio turnover rate for the Fund will be high. The Sub-Advisor expects that the Fund’s investment strategy will result in a portfolio turnover rate in excess of 500% on an annual basis.
For additional information about the Fund’s principal investment strategies and the investment process, see “Description of the Principal Strategies of the Funds.”
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WBIL - Performance

Return Ranking - Trailing

Period WBIL Return Category Return Low Category Return High Rank in Category (%)
YTD 11.3% 0.3% 17.0% 14.94%
1 Yr 25.8% 3.7% 53.6% 79.47%
3 Yr 7.1%* -10.3% 30.6% 85.15%
5 Yr 6.6%* -7.9% 109.2% 98.76%
10 Yr N/A* 0.4% 21.0% 79.15%

* Annualized

Return Ranking - Calendar

Period WBIL Return Category Return Low Category Return High Rank in Category (%)
2023 11.4% -42.6% 47.4% 79.71%
2022 -10.5% -56.3% -4.2% 2.15%
2021 16.3% -27.2% 53.7% 53.08%
2020 -2.4% -36.2% 2181.7% 95.03%
2019 10.8% -22.7% 40.4% 94.61%

Total Return Ranking - Trailing

Period WBIL Return Category Return Low Category Return High Rank in Category (%)
YTD 11.3% 0.3% 17.0% 14.94%
1 Yr 25.8% 3.7% 53.6% 79.47%
3 Yr 7.1%* -10.3% 30.6% 85.15%
5 Yr 6.6%* -7.9% 109.2% 98.76%
10 Yr N/A* 0.4% 21.0% N/A

* Annualized

Total Return Ranking - Calendar

Period WBIL Return Category Return Low Category Return High Rank in Category (%)
2023 11.8% -5.0% 47.4% 94.03%
2022 -9.6% -36.8% -2.2% 8.30%
2021 18.7% 3.0% 124.3% 93.83%
2020 -2.2% -15.8% 2266.0% 99.07%
2019 11.7% -0.4% 241.3% 99.47%

WBIL - Holdings

Concentration Analysis

WBIL Category Low Category High WBIL % Rank
Net Assets 44.6 M 2.59 M 1.55 T 92.49%
Number of Holdings 31 1 4053 93.67%
Net Assets in Top 10 26.2 M 885 K 387 B 88.74%
Weighting of Top 10 63.85% 0.3% 112.0% 3.53%

Top 10 Holdings

  1. Mount Vernon Liquid Assets Portfolio, LLC 16.29%
  2. SPDR Bloomberg 1-3 Month T-Bill ETF 9.45%
  3. Marriott International Inc/MD 5.07%
  4. Royal Caribbean Cruises Ltd 4.93%
  5. Ford Motor Co 4.80%
  6. Hilton Worldwide Holdings Inc 4.73%
  7. Diamondback Energy Inc 4.70%
  8. Zscaler Inc 4.69%
  9. Uber Technologies Inc 4.68%
  10. Allegion plc 4.51%

Asset Allocation

Weighting Return Low Return High WBIL % Rank
Stocks
99.37% 0.00% 124.03% 31.04%
Cash
17.14% 0.00% 99.06% 0.78%
Preferred Stocks
0.00% 0.00% 2.38% 88.43%
Other
0.00% -13.91% 100.00% 84.60%
Convertible Bonds
0.00% 0.00% 5.54% 87.06%
Bonds
0.00% -0.50% 94.15% 87.80%

Stock Sector Breakdown

Weighting Return Low Return High WBIL % Rank
Energy
41.64% 0.00% 41.64% 0.08%
Financial Services
14.86% 0.00% 55.59% 31.50%
Technology
14.11% 0.00% 48.94% 92.28%
Consumer Defense
13.04% 0.00% 47.71% 4.69%
Basic Materials
12.51% 0.00% 25.70% 0.56%
Healthcare
3.86% 0.00% 60.70% 99.28%
Utilities
0.00% 0.00% 20.91% 98.49%
Real Estate
0.00% 0.00% 31.91% 98.17%
Industrials
0.00% 0.00% 29.90% 100.00%
Communication Services
0.00% 0.00% 27.94% 99.76%
Consumer Cyclical
0.00% 0.00% 30.33% 100.00%

Stock Geographic Breakdown

Weighting Return Low Return High WBIL % Rank
US
99.37% 0.00% 124.03% 24.86%
Non US
0.00% 0.00% 62.81% 90.85%

WBIL - Expenses

Operational Fees

WBIL Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.65% 0.01% 16.07% 12.82%
Management Fee 0.85% 0.00% 1.89% 94.03%
12b-1 Fee 0.00% 0.00% 1.00% 18.10%
Administrative Fee N/A 0.00% 0.85% N/A

Sales Fees

WBIL Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.00% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

WBIL Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.25% 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.

WBIL Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 496.00% N/A

WBIL - Distributions

Dividend Yield Analysis

WBIL Category Low Category High WBIL % Rank
Dividend Yield 0.13% 0.00% 25.10% 83.39%

Dividend Distribution Analysis

WBIL Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Annual Quarterly Semi-Annually

Net Income Ratio Analysis

WBIL Category Low Category High WBIL % Rank
Net Income Ratio 0.43% -54.00% 6.06% 66.08%

Capital Gain Distribution Analysis

WBIL Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Quarterly Annually

Distributions History

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WBIL - Fund Manager Analysis

Managers

Donald Schreiber


Start Date

Tenure

Tenure Rank

Aug 25, 2014

7.77

7.8%

Mr. Don Schreiber, Jr. has led WBI since founding the firm in 1984. Mr. Schreiber has focused company resources on developing WBI’s proprietary time-tested investment approach, seeking to provide wealth-building investment strategies with low volatility, low correlation, and an optimal blend of bear market capital preservation and bull market return. Mr. Schreiber continues to push the envelope of investing across the firm’s separately managed accounts and exchange-traded funds – as shown in the evolution of WBI’s SMA product into a tactical and more tax-efficient SMA stucture (the Tax-Smart SMA®). Additionally, upon WBI’s 30-year anniversary, the company reached a historic milestone with the launch of 10 actively managed exchange-traded funds and setting an industry record with $1 billion in assets on the first trading day. Considered an expert in his field, Mr. Schreiber is often called upon by the press to provide his perspective on investments, markets, economics, and financial planning. Mr. Schreiber makes recurring appearances on CNBC and Fox Business, and his views are also frequently published in print. Mr. Schreiber co-hosts a successful podcast series, Bull | Bear Radio. In addition, he is a Top Contributor on Financial Advisor IQ’s ThinkTank. Mr. Schreiber is co-author of “All About Dividend Investing”, published by McGraw-Hill in 2011 and the author of “Building a World Class Financial Services Business: How to Transform Your Sales Practice into a Business Worth Millions”, released by Dearborn Publishing in 2001. Mr. Schreiber earned a Bachelor of Science in Business Finance from Susquehanna University and is a Certified Financial Planner (CFP®). Mr. Schreiber is Chief Executive Officer of The Hartshorne Group as well as Chief Executive Officer of Millington Securities.

Steven Van Solkema


Start Date

Tenure

Tenure Rank

Mar 01, 2019

3.25

3.3%

Effective March 1, 2019, Mr. Van Solkema assumed the role of Co-Chief Investment Officer and Co-Portfolio Manager of WBI Investments, Inc. He has over twenty years of portfolio management, trading, quantitative modeling, risk management, operations and compliance experience in equity and fixed income capital markets. Prior to this new position, Mr. Van Solkema spent five years as the Chief Operating Officer of Millington Securities, an affiliate of WBI Investments, Inc. Mr. Van Solkema also previously served as Chief Compliance Officer of Millington. At Millington Securities, Mr. Van Solkema and his team focused on providing high-touch institutional trading services and exchange-traded fund advisory services. Before joining Millington Securities in April of 2014, Mr. Van Solkema was a Portfolio Manager and Managing Director at Ally Financial. In that role, he directed Agency MBS and interest rate derivative trading, pipeline risk management, mortgage lending, origination, securitization, and rate sheet pricing on the firm’s capital markets desk. He supervised a team of traders and consistently improved risk management reporting used by the firm’s CIO. Mr. Van Solkema also served as Chief Operating Officer of Ally Securities, the firm’s broker-dealer, where he supervised institutional sales and trading teams, operations, compliance and technology. He was also responsible for strategic initiatives, quantitative credit modeling, product development, balance sheet management and oversight of treasury operations. Prior to Ally Financial, Mr. Van Solkema was a Portfolio Manager and Managing Director at Bear Stearns. He focused on Non-Agency RMBS, CDO, CLO, equity and index derivative securities, including quantitative modeling, trading and valuation of $38 billion in gross assets under management. He developed numerous analytical models and implemented profitable trade ideas in structured credit markets with a focus on risk management, relative value analysis and asset correlation. He also supervised hedge fund trading, valuation, accounting, and technology teams. Mr. Van Solkema began his career at Goldman Sachs as a Senior Risk Analyst and Project Manager where he analyzed performance attribution, risk management, asset allocation, valuation, and tax harvesting strategies for high-net-worth client portfolios comprised of domestic and international equities, fixed income, foreign currencies and derivatives. He was also responsible for calculating VAR, risk-adjusted portfolio performance, internal and external composite variance, and customized benchmarks. Mr. Van Solkema earned his MBA in Finance from New York University’s Stern School of Business and his BBA in Finance from Baruch College. Mr. Van Solkema is a Chartered Financial Analyst (CFA®) Charterholder and is Series 65 licensed (and was previously a FINRA Series 4, 7, 24, 27, 57, 63, and 99 registered representative).

Tenure Analysis

Category Low Category High Category Average Category Mode
0.04 39.02 7.21 2.42