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Rating Breakdown
Avg.
Relative Strength
The relative strength of a dividend stock indicates whether the stock is uptrending or not. The major determining factor in this rating is whether the stock is trading close to its 52-week-high.
Overall Yield Attractiveness
If a stock’s yield is above or near the market average then it will be rated higher within this parameter. High dividend yields (usually over 10%) should be considered extremely risky, while low dividend yields (1% or less) are simply not very beneficial to long-term investors.
Dividend Reliability
A stock’s dividend reliability is determined by a healthy payout ratio that is higher than other stocks. A company that pays out close to half its earnings as dividends and retains the other half of earnings has ample room to grow its business and pay out more dividends in the future.
Dividend Uptrend
A stock’s Dividend Uptrend rating is dependent on the company’s price-to-earnings (P/E) ratio to evaluate whether or not a stock’s dividend is likely to trend upward. If a stock is valued near, or slightly below the market average, research has shown that the market expects the stock’s dividend to increase.
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A stock’s Earnings Growth rating evaluates a company’s expected EPS for the current financial year and compares it to next financial year’s expected EPS. Stocks with single-digit growth estimates will have a higher rating than others, as our research has shown that well-established dividend-paying companies have modest earnings growth estimates.
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Distillate U.S. Fundamental Stability & Value ETF

ETF
DSTL
Payout Change
Pending
Price as of:
$41.8 +0.52 +1.26%
primary theme
U.S. Large-Cap Blend Equity
DSTL (ETF)

Distillate U.S. Fundamental Stability & Value ETF

Payout Change
Pending
Price as of:
$41.8 +0.52 +1.26%
primary theme
U.S. Large-Cap Blend Equity
DSTL (ETF)

Distillate U.S. Fundamental Stability & Value ETF

Payout Change
Pending
Price as of:
$41.8 +0.52 +1.26%
primary theme
U.S. Large-Cap Blend Equity

Name

Price

Aum/Mkt Cap

YIELD

Exp Ratio

Watchlist

Distillate U.S. Fundamental Stability & Value ETF

DSTL | ETF

$41.80

$755 M

1.86%

$0.78

0.39%

Vitals

YTD Return

2.5%

1 yr return

-5.3%

3 Yr Avg Return

25.5%

5 Yr Avg Return

N/A

Net Assets

$755 M

Holdings in Top 10

20.2%

52 WEEK LOW AND HIGH

$41.3
$36.90
$45.49

Expenses

OPERATING FEES

Expense Ratio 0.39%

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

Price

Aum/Mkt Cap

YIELD

Exp Ratio

Watchlist

Distillate U.S. Fundamental Stability & Value ETF

DSTL | ETF

$41.80

$755 M

1.86%

$0.78

0.39%

DSTL - Profile

Distributions

  • YTD Total Return 2.5%
  • 3 Yr Annualized Total Return 25.5%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 1.17%
DIVIDENDS
  • Dividend Yield 1.9%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    Distillate U.S. Fundamental Stability & Value ETF
  • Fund Family Name
    Distillate Capital Partners
  • Inception Date
    Oct 23, 2018
  • Shares Outstanding
    17700000
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Austin Wen

Fund Description

The Fund uses a “passive management” (or indexing) approach to track the performance, before fees and expenses, of the Index. The Index was developed in 2018 by Distillate Capital Partners LLC, the Fund’s investment adviser and index provider (the “Adviser”), and uses an objective, rules-based methodology to measure the performance of U.S.-listed, large-capitalization equity securities, selected based on certain fundamental factors, as described below.
Distillate U.S. Fundamental Stability & Value Index
Index construction begins with the 500 largest U.S.-listed companies based on free-float market capitalization that satisfy the following criteria (the “Equity Universe”): (i) have at least five years of cash flow per share data; (ii) have reported a net profit in at least one of the last three fiscal years; (iii) are headquartered in the United States or Ireland; (iv) have an average daily traded value of USD50 million over the prior 90 days; and (v) for which a 12-month free cash flow estimate is available from FactSet Research Systems Inc. The remaining companies, as well as any companies that were included in the Index in the prior period, are then evaluated based on the following three proprietary fundamental measures to identify the companies that will be included in the Index:
Financial Indebtedness
Companies with significant leverage (based on a proprietary debt-to-income calculation) are excluded from the Index.
Fundamental Stability
Each company is scored based on a proprietary measure of the volatility of its historical and projected cash flows as an indicator of fundamental stability. The bottom 50% (i.e., the least stable) of the companies in the Equity Universe based on this measure are excluded from the Index.
Valuation
Each company is scored based on a proprietary measure of the company’s free cash flow yield (a measure comparing a company’s normalized free cash flow to its enterprise value). The top 100 companies (the most undervalued) that meet the Index’s other criteria are included in the Index.  
Although the Index methodology seeks to select companies that demonstrate fundamental stability, the value of such companies (and consequently the value of the Index and of the Fund) may still be subject to volatility over short or long periods of time.
The Index is typically reconstituted based on the above criteria quarterly after the close of trading on the 3rd business day of each January, April, July, and October, utilizing data typically from the last business day of the month preceding the reconstitution (the “Data Date”). At the time of each reconstitution of the Index, each company is weighted based on the sum of two-thirds of its equal weighting weight (i.e., 2/3 of 1%) and one-third of its proportion of the Index’s total normalized cash flow, using data as of the Data Date. For example, for an Index constituent with 4% of the total normalized free cash flow of all 100 index constituents, its weighting would be two-thirds of 1% plus one-third of 4%, which equals 2%. Any stock that qualifies for inclusion in the Index, but ranks 81st to 100th of the included securities based on the Index’s valuation score will be limited to a weight of 2% at the time of reconstitution, with any excess weight redistributed pro-rata to the unaffected positions.
As of January 26, 2022, the Index had significant exposure to the information technology, industrials, and health care sectors.
The Fund’s Investment Strategy
The Fund will generally use a “replication” strategy to achieve its investment objective, meaning it generally will invest in all of the component securities of the Index in approximately the same 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).
Under normal circumstances, at least 80% of the Fund’s net assets, plus borrowings for investment purposes, will be invested in U.S. assets. For purposes of this policy, the Fund considers securities that are traded principally in the United States to be “U.S. assets”.
To the extent the Index concentrates (i.e., holds more than 25% of its total assets) in the securities of a particular industry or group of related industries, the Fund will concentrate its investments to approximately the same extent as the Index.
Read More

DSTL - Performance

Return Ranking - Trailing

Period DSTL Return Category Return Low Category Return High Rank in Category (%)
YTD 2.5% -51.8% 22.1% 65.24%
1 Yr -5.3% -58.9% 46.9% 3.07%
3 Yr 25.5%* -25.7% 197.6% 2.04%
5 Yr N/A* -29.1% 93.8% N/A
10 Yr N/A* -17.2% 37.0% N/A

* Annualized

Return Ranking - Calendar

Period DSTL Return Category Return Low Category Return High Rank in Category (%)
2022 -10.6% -69.4% 53.7% 7.87%
2021 13.5% -94.0% 152.6% 4.65%
2020 6.1% -13.9% 183.6% 14.04%
2019 7.9% -18.2% 8.9% 1.25%
2018 N/A -80.2% 35.2% N/A

Total Return Ranking - Trailing

Period DSTL Return Category Return Low Category Return High Rank in Category (%)
YTD 2.5% -97.2% 22.1% 65.24%
1 Yr -5.3% -58.9% 67.6% 4.32%
3 Yr 25.5%* -25.7% 197.6% 2.17%
5 Yr N/A* -28.1% 93.8% N/A
10 Yr N/A* -11.8% 37.0% N/A

* Annualized

Total Return Ranking - Calendar

Period DSTL Return Category Return Low Category Return High Rank in Category (%)
2022 -10.6% -69.4% 53.7% 7.94%
2021 13.5% -94.0% 152.6% 4.88%
2020 6.1% -13.9% 183.6% 13.96%
2019 7.9% -12.8% 8.9% 1.25%
2018 N/A -60.0% 35.2% N/A

DSTL - Holdings

Concentration Analysis

DSTL Category Low Category High DSTL % Rank
Net Assets 755 M 177 K 1.21 T 53.79%
Number of Holdings 101 2 4154 50.55%
Net Assets in Top 10 152 M 1.74 K 270 B 61.96%
Weighting of Top 10 20.20% 1.8% 100.0% 92.73%

Top 10 Holdings

  1. Johnson & Johnson 2.91%
  2. UnitedHealth Group Inc 2.56%
  3. Intel Corp 2.39%
  4. AbbVie Inc 2.22%
  5. Apple Inc 2.11%
  6. Walmart Inc 2.10%
  7. The Home Depot Inc 2.07%
  8. Oracle Corp 1.86%
  9. Comcast Corp Class A 1.83%
  10. Meta Platforms Inc Class A 1.81%

Asset Allocation

Weighting Return Low Return High DSTL % Rank
Stocks 		99.98% 0.00% 130.24% 12.52%
Cash 		0.02% -102.29% 100.00% 85.48%
Preferred Stocks 		0.00% 0.00% 2.23% 15.63%
Other 		0.00% -13.91% 134.98% 16.67%
Convertible Bonds 		0.00% 0.00% 5.54% 11.07%
Bonds 		0.00% -0.04% 95.81% 12.72%

Stock Sector Breakdown

Weighting Return Low Return High DSTL % Rank
Healthcare 		21.06% 0.00% 60.70% 5.46%
Technology 		19.00% 0.00% 48.94% 76.26%
Industrials 		18.77% 0.00% 29.90% 3.43%
Consumer Cyclical 		16.34% 0.00% 50.47% 4.62%
Communication Services 		7.83% 0.00% 27.94% 60.57%
Consumer Defense 		7.17% 0.00% 49.14% 38.45%
Basic Materials 		3.50% 0.00% 26.10% 27.87%
Financial Services 		3.47% 0.00% 55.59% 97.62%
Energy 		2.09% 0.00% 41.64% 75.35%
Real Estate 		0.78% 0.00% 37.52% 80.53%
Utilities 		0.00% 0.00% 25.44% 85.85%

Stock Geographic Breakdown

Weighting Return Low Return High DSTL % Rank
US 		99.98% 0.00% 127.77% 3.32%
Non US 		0.00% 0.00% 33.51% 91.77%

DSTL - Expenses

Operational Fees

DSTL Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.39% 0.01% 2.95% 75.74%
Management Fee 0.39% 0.00% 2.00% 34.22%
12b-1 Fee 0.00% 0.00% 1.00% 3.16%
Administrative Fee N/A 0.00% 0.85% N/A

Sales Fees

DSTL 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% 5.00% N/A

Trading Fees

DSTL 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.

DSTL Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 496.00% 72.87%

DSTL - Distributions

Dividend Yield Analysis

DSTL Category Low Category High DSTL % Rank
Dividend Yield 1.86% 0.00% 19.15% 13.95%

Dividend Distribution Analysis

DSTL Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Annually Quarterly Annually

Net Income Ratio Analysis

DSTL Category Low Category High DSTL % Rank
Net Income Ratio 1.17% -54.00% 6.06% 22.53%

Capital Gain Distribution Analysis

DSTL Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

View More +

DSTL - Fund Manager Analysis

Managers

Austin Wen

Start Date

Tenure

Tenure Rank

Oct 23, 2018

3.61

3.6%

Austin Wen, CFA has seven years of investment management experience. Mr. Wen is a Portfolio Manager at Vident, specializing in portfolio management and trading of equity portfolios and commodities based portfolios, as well as risk monitoring and investment analysis. Previously, Mr. Wen was an analyst for Vident Financial, working on the development and review of investment solutions. He began his career as a State Examiner for the Georgia Department of Banking and Finance. Mr. Wen obtained a BA in Finance from the University of Georgia and holds the Chartered Financial Analyst designation.

Rafael Zayas

Start Date

Tenure

Tenure Rank

Jun 19, 2020

1.95

2.0%

Rafael Zayas, CFA, is Senior Vice President, Head of Portfolio Management and Trading at Vident Investment Advisory, LLC since June 2020. Mr. Zayas became SVP, Head of Portfolio Management and Trading in June 2020. From 2017 to 2020, he was a Senior Portfolio Manager – International Equity at Vident and has over 15 years of experience that includes managing international equity portfolios, including in emerging and frontier markets. Prior to joining Vident, he was a Portfolio Manager – Direct Investments for seven years at Russell Investments, a global asset manager, where he co-managed more than $4 billion in quantitative strategies across global markets, including the Russell Strategic Call Overwriting Fund, a mutual fund. Mr. Zayas also helped Russell Investments launch its sponsored ETF initiative and advised on index methodologies. Prior to joining Russell Investments, Mr. Zayas was a Portfolio Manager – Equity Indexing at Mellon Capital Management, where he managed assets for internationally listed global equity ETFs. Mr. Zayas graduated with a B.S. in Electrical Engineering from Cornell University and obtained a Certificate in Computational Finance and Risk Management from the University of Washington. He also attained the Chartered Financial Analyst designation in 2010.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.04 39.02 7.17 2.42

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