Dividend Investing Ideas Center
Critical Facts You Need to Know About Preferred Stocks
Have you ever wished for the safety of bonds, but the return potential...
Name
As of 04/25/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
YTD Return
-8.8%
1 yr return
-4.4%
3 Yr Avg Return
N/A
5 Yr Avg Return
N/A
Net Assets
$3.3 M
Holdings in Top 10
100.1%
Expense Ratio 1.55%
Front Load N/A
Deferred Load N/A
Turnover N/A
Redemption Fee N/A
Standard (Taxable)
N/A
IRA
N/A
Fund Type
Exchange Traded Fund
Name
As of 04/25/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
The Fund is an actively-managed exchange-traded fund (“ETF”) that seeks to achieve its investment objectives by utilizing a systematic risk management and rules-based strategy to direct its exposure to credit-related securities including either (i) high yield bonds or (ii) long-duration (e.g., 20 years) U.S. Treasury securities depending on the performance of the Utilities sector relative to the U.S. large-capitalization equity market as described below.
The Adviser invests the Fund’s assets primarily in one or more ETFs (sometimes referred to in this Prospectus as “Underlying ETFs”), or the underlying holdings of such Underlying ETFs, seeking to follow the credit-on/credit-off signals from the ATAC Credit-On/Credit-Off Index (the “Index”), which is owned and maintained by the Adviser. The Index exposure between high yield U.S. corporate bonds and long-term U.S. Treasury securities using U.S.-listed ETFs is evaluated on a weekly basis. The Adviser’s investment decisions for the Fund are based on the Index’s assessment of the short-term relative performance of companies in the Utilities sector relative to the performance of the U.S. large-capitalization equity market. To assess short-term relative performance, the Index performs a rolling multi-week evaluation of the market performance of the Utilities sector relative to the broad stock market by comparing the performance of two ETFs, the Utilities Select Sector SPDR Fund (XLU) and the SPDR S&P 500 ETF Trust (SPY). The Utilities sector or utilities securities are comprised of utility companies such as electric, gas and water utilities and also includes independent power producers and energy traders and companies that engage in the generation and distribution of electricity using renewable sources. The Adviser believes that the Utilities sector has historically outperformed the broader stock market in short-term periods in advance of high volatility environments for equity securities and that movements in the Utilities sector tend to signify repositioning in the market in advance of major credit spread widening environments. When utilities securities are underperforming the market (“Credit-On”), the Index will have exposure by investing in one or more ETFs that principally invests in high yield bonds. When utilities securities are outperforming the market (“Credit-Off”), the Index will have exposure by investing in one or more ETFs that principally invests in long-duration (e.g., 20 years) U.S. Treasury securities. The Fund’s selection and individual allocation of Underlying ETFs as a percentage of the Fund’s assets attempts to replicate the Index’s Credit-On and Credit-Off holdings, as applicable.
Credit-On Exposure. When the Index is in a Credit-On exposure, the Fund seeks to invest in one or more Underlying ETFs that principally invests in high yield bonds of companies that are below investment grade (commonly referred to as “junk bonds”). The term “below investment grade” refers to instruments either rated Ba1 or lower by Moody’s Investors Service, Inc. (“Moody’s”), BB+ or lower by S&P Global Ratings (“S&P”) or Fitch Ratings, Inc. (“Fitch”), or comparably rated by another nationally recognized statistical rating organization (“NRSRO”), or, if unrated, considered by the Adviser to be of comparable quality.
Credit-Off Exposure. When the Index is in a Credit-Off exposure, the Fund will invest in Underlying ETFs that seek to obtain exposure to long-duration (e.g., 20 years) U.S. Treasury securities.
In addition, the Fund may purchase a security not currently in the Index, including U.S. Treasury securities of long- and/or intermediate-duration (e.g., 5 to 10 years) or high yield and/or investment grade bonds that replicate the respective Underlying ETFs, when the Adviser believes it is in the best interests of the Fund to do so. The term “investment grade” refers to instruments either rated Baa or higher by Moody’s, BBB or higher by S&P or Fitch, or comparably rated by another NRSRO, or, if unrated, considered by the Adviser to be of comparable quality.
Under normal circumstances, at least 80% of the Fund’s net assets, plus borrowings for investment purposes, will be invested in (i) credit-related securities, or (ii) ETFs that invest, under normal circumstances, at least 80% of their net assets, plus borrowings for investment purposes, in credit-related securities. Credit-related securities include fixed-income securities, debt securities and loans and investments with economic characteristics similar to fixed-income securities, debt securities and loans.
Because the Index may change from Credit-On to Credit-Off exposure as frequently as weekly, the Fund may engage in active and frequent trading and have a high portfolio turnover rate.
The Fund is deemed to be non-diversified under the Investment Company Act of 1940, as amended (the “1940 Act”), which means that it may invest a greater percentage of its assets in the securities of a single issuer or a smaller number of issuers than if it was a diversified fund.
Period | JOJO Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -8.8% | -39.9% | 6.2% | 96.73% |
1 Yr | -4.4% | -22.1% | 21.3% | N/A |
3 Yr | N/A* | -14.2% | 66.8% | N/A |
5 Yr | N/A* | -13.6% | 37.2% | N/A |
10 Yr | N/A* | -9.3% | 16.2% | N/A |
* Annualized
Period | JOJO Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 3.0% | -44.3% | 3.7% | N/A |
2022 | -24.6% | -56.9% | 9.2% | N/A |
2021 | N/A | -53.7% | 70.9% | N/A |
2020 | N/A | -33.7% | 5.1% | N/A |
2019 | N/A | -9.4% | 12.0% | N/A |
Period | JOJO Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -8.8% | -39.9% | 6.2% | 98.37% |
1 Yr | -4.4% | -22.1% | 22.2% | N/A |
3 Yr | N/A* | -14.2% | 66.8% | N/A |
5 Yr | N/A* | -13.6% | 37.2% | N/A |
10 Yr | N/A* | -9.3% | 16.2% | N/A |
* Annualized
Period | JOJO Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 7.6% | -44.3% | 3.7% | N/A |
2022 | -22.0% | -56.9% | 9.2% | N/A |
2021 | N/A | -53.7% | 70.9% | N/A |
2020 | N/A | -33.7% | 5.1% | N/A |
2019 | N/A | -9.4% | 12.0% | N/A |
JOJO | Category Low | Category High | JOJO % Rank | |
---|---|---|---|---|
Net Assets | 3.3 M | 1.47 M | 26.2 B | 98.38% |
Number of Holdings | 3 | 2 | 2736 | 99.61% |
Net Assets in Top 10 | 4.36 M | -492 M | 2.55 B | 83.29% |
Weighting of Top 10 | 100.08% | 3.0% | 100.0% | 0.66% |
Weighting | Return Low | Return High | JOJO % Rank | |
---|---|---|---|---|
Stocks | 99.82% | -0.60% | 52.82% | 89.52% |
Cash | 0.27% | -52.00% | 100.00% | 85.26% |
Preferred Stocks | 0.00% | 0.00% | 14.10% | 80.13% |
Other | 0.00% | -63.70% | 32.06% | 74.08% |
Convertible Bonds | 0.00% | 0.00% | 17.89% | 97.37% |
Bonds | 0.00% | 0.00% | 154.38% | 6.16% |
Weighting | Return Low | Return High | JOJO % Rank | |
---|---|---|---|---|
Utilities | 0.00% | 0.00% | 100.00% | N/A |
Technology | 0.00% | 0.00% | 34.19% | N/A |
Real Estate | 0.00% | 0.00% | 86.71% | N/A |
Industrials | 0.00% | 0.00% | 100.00% | N/A |
Healthcare | 0.00% | 0.00% | 30.07% | N/A |
Financial Services | 0.00% | 0.00% | 100.00% | N/A |
Energy | 0.00% | 0.00% | 100.00% | N/A |
Communication Services | 0.00% | 0.00% | 99.99% | N/A |
Consumer Defense | 0.00% | 0.00% | 100.00% | N/A |
Consumer Cyclical | 0.00% | 0.00% | 100.00% | N/A |
Basic Materials | 0.00% | 0.00% | 100.00% | N/A |
Weighting | Return Low | Return High | JOJO % Rank | |
---|---|---|---|---|
US | 99.82% | -0.60% | 47.59% | 87.24% |
Non US | 0.00% | -0.01% | 5.26% | 74.08% |
JOJO Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.55% | 0.02% | 3.87% | 25.50% |
Management Fee | 1.25% | 0.00% | 1.84% | 98.78% |
12b-1 Fee | N/A | 0.00% | 1.00% | 11.17% |
Administrative Fee | N/A | 0.00% | 0.50% | N/A |
JOJO 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 |
JOJO Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 1.00% | 2.00% | N/A |
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.
JOJO Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | N/A | 1.00% | 327.00% | N/A |
JOJO | Category Low | Category High | JOJO % Rank | |
---|---|---|---|---|
Dividend Yield | 4.12% | 0.00% | 39.36% | 39.66% |
JOJO | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
JOJO | Category Low | Category High | JOJO % Rank | |
---|---|---|---|---|
Net Income Ratio | N/A | -2.39% | 14.30% | 99.31% |
JOJO | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually |
Date | Amount | Type |
---|---|---|
Apr 05, 2024 | $0.047 | OrdinaryDividend |
Mar 07, 2024 | $0.079 | OrdinaryDividend |
Feb 14, 2024 | $0.074 | OrdinaryDividend |
Dec 29, 2023 | $0.046 | OrdinaryDividend |
Dec 07, 2023 | $0.067 | OrdinaryDividend |
Nov 07, 2023 | $0.045 | OrdinaryDividend |
Oct 06, 2023 | $0.042 | OrdinaryDividend |
Sep 11, 2023 | $0.043 | OrdinaryDividend |
Aug 07, 2023 | $0.071 | OrdinaryDividend |
Jul 10, 2023 | $0.077 | OrdinaryDividend |
Jun 07, 2023 | $0.073 | OrdinaryDividend |
May 05, 2023 | $0.037 | OrdinaryDividend |
Apr 10, 2023 | $0.036 | OrdinaryDividend |
Mar 07, 2023 | $0.036 | OrdinaryDividend |
Feb 07, 2023 | $0.076 | OrdinaryDividend |
Dec 28, 2022 | $0.040 | OrdinaryDividend |
Dec 06, 2022 | $0.062 | OrdinaryDividend |
Nov 07, 2022 | $0.059 | OrdinaryDividend |
Oct 07, 2022 | $0.033 | OrdinaryDividend |
Sep 08, 2022 | $0.032 | OrdinaryDividend |
Aug 05, 2022 | $0.063 | OrdinaryDividend |
Jul 08, 2022 | $0.072 | OrdinaryDividend |
Jun 06, 2022 | $0.027 | OrdinaryDividend |
May 06, 2022 | $0.027 | OrdinaryDividend |
Apr 07, 2022 | $0.071 | OrdinaryDividend |
Mar 07, 2022 | $0.023 | OrdinaryDividend |
Feb 07, 2022 | $0.025 | OrdinaryDividend |
Dec 31, 2021 | $0.288 | OrdinaryDividend |
Dec 07, 2021 | $0.023 | OrdinaryDividend |
Nov 05, 2021 | $0.027 | OrdinaryDividend |
Oct 07, 2021 | $0.069 | OrdinaryDividend |
Sep 08, 2021 | $0.068 | OrdinaryDividend |
Aug 06, 2021 | $0.019 | OrdinaryDividend |
Start Date
Tenure
Tenure Rank
Jul 15, 2021
0.88
0.9%
Mr. Venuto is a co-founder and has been the Chief Investment Officer of the Toroso Investments, LLC since 2012. Mr. Venuto is an ETF industry veteran with over a decade of experience in the design and implementation of ETF-based investment strategies. Previously, he was Head of Investments at Global X Funds where he provided portfolio optimization services to institutional clients. Before that, he was Senior Vice President at Horizon Kinetics where his responsibilities included new business development, investment strategy and client and strategic initiatives.
Start Date
Tenure
Tenure Rank
Jul 15, 2021
0.88
0.9%
Michael A. Gayed, CFA Mr. Gayed joined the Toroso Investments, LLC in 2020 as a portfolio manager. Prior to 2020, Mr. Gayed was an employee of the Pension Partners, LLC and served as its Chief Investment Strategist and a portfolio manager of the Fund since its inception. As Chief Investment Strategist, Mr. Gayed helped to structure portfolios to best take advantage of various strategies designed to maximize the amount of time and capital spent in potentially outperforming investments. Prior to his role as Chief Investment Strategist and portfolio manager of the Fund, from 2009 to 2010, Mr. Gayed served as a portfolio manager at the Predecessor Adviser for a large international investment group, trading long/short investment ideas in an effort to capture excess returns. Mr. Gayed also served as a portfolio strategist and business development consultant for the Predecessor Adviser during 2009. From 2004 to 2008, Mr. Gayed was a Portfolio Strategist at AmeriCap Advisers, LLC, a registered investment advisory firm which managed equity portfolios for large institutional clients. As a member of the investment committee at AmeriCap Advisers, LLC, Mr. Gayed performed detailed analysis on various stocks and worked closely with the principals of the firm to structure client portfolios. In 2007, he launched a long/short hedge fund, using various trading strategies focused on taking advantage of stock market anomalies. Mr. Gayed earned his B.S. in Finance and Management from New York University and holds the Chartered Financial Analyst designation.
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.13 | 37.79 | 7.07 | 2.92 |
Dividend Investing Ideas Center
Have you ever wished for the safety of bonds, but the return potential...
Dividend Investing Ideas Center
If you are reaching retirement age, there is a good chance that you...
Dividend Investing Ideas Center
If you are reaching retirement age, there is a good chance that you...