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Trending ETFs

BondBloxx IR+M Tax-Aware Short Duration ETF

ETF
TAXX
Payout Change
Pending
Price as of:
$50.395 +0.06 +0.11%
primary theme
N/A
TAXX (ETF)

BondBloxx IR+M Tax-Aware Short Duration ETF

Payout Change
Pending
Price as of:
$50.395 +0.06 +0.11%
primary theme
N/A
TAXX (ETF)

BondBloxx IR+M Tax-Aware Short Duration ETF

Payout Change
Pending
Price as of:
$50.395 +0.06 +0.11%
primary theme
N/A

Name

As of 11/07/2024

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

$50.40

$52.9 M

3.51%

$1.77

0.35%

Vitals

YTD Return

N/A

1 yr return

N/A

3 Yr Avg Return

N/A

5 Yr Avg Return

N/A

Net Assets

$52.9 M

Holdings in Top 10

15.5%

52 WEEK LOW AND HIGH

$50.3
$49.79
$50.82

Expenses

OPERATING FEES

Expense Ratio 0.35%

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 11/07/2024

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

$50.40

$52.9 M

3.51%

$1.77

0.35%

TAXX - Profile

Distributions

  • YTD Total Return N/A
  • 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 3.5%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    BondBloxx IR+M Tax-Aware Short Duration ETF
  • Fund Family Name
    N/A
  • Inception Date
    Mar 14, 2024
  • Shares Outstanding
    N/A
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US

Fund Description

The Fund is an actively managed exchange-traded fund (“ETF”) that does not seek to replicate the performance of a specified index. The Fund is newly organized and invests in a diversified portfolio of U.S. dollar-denominated municipal and taxable short duration fixed income securities that in the Sub-Adviser’s (as defined below) view offers relatively attractive after-tax income (i.e., securities that generate a greater amount of after-tax return than the comparable universe of U.S. dollar-denominated, investment-grade fixed income debt instruments over a specified period of time). The Fund invests, under normal circumstances, at least 50% of its total assets in municipal securities that pay interest that is exempt from U.S. federal income tax. These securities may pay interest that is subject to the U.S. federal alternative minimum tax and state and local income tax for certain taxpayers. The income earned and distributed to shareholders on taxable securities would not be exempt from U.S. federal, state or local income tax.

The Fund invests, under normal circumstances, at least 80% of its total assets (plus the amount of any borrowings for investment purposes) either directly or indirectly (e.g., through derivatives) in a portfolio of U.S. dollar-denominated, investment-grade fixed income debt instruments. The fixed income debt instruments in which the Fund may invest include municipal securities, securities issued or guaranteed by the U.S. government and its agencies, corporate debt securities, agency and non-agency mortgage-backed securities of any kind, including commercial mortgage-backed securities (“CMBS”), asset-backed securities of any kind, and the rated debt tranches of collateralized loan obligations (“CLOs”) (i.e., securities backed by an underlying portfolio of loan obligations, which may include senior unsecured loans and subordinate corporate loans).

“Investment-grade” securities are securities that at the time of purchase are rated above Baa3 by at least one nationally recognized statistical rating organizations (“NRSRO”). In the case of a split rated security (that is, two or more NRSROs give a security different ratings), the highest rating shall apply. The Fund may only invest in fixed income investments that have a minimum of B3 by Moody’s Investors Services, Inc. (“Moody’s”) or B- by S&P Global Ratings (“S&P”), or the equivalent by another NRSRO or that are unrated but considered to be of equivalent quality by the Sub-Adviser. Those bonds rated Baa3/BBB-/BBB-, while considered to be “investment grade,” may have speculative characteristics. Any credit quality requirements as to investments apply only at the time of an investment to which the requirement is applicable and shall not be considered violated unless an excess or deficiency occurs or exists immediately after and as a result of such investment. Accordingly, any later credit quality downgrade or change in circumstances will not be considered in determining whether any investment complies with the Fund’s credit quality limitation or requirement. Nevertheless, while the percentage of investments in investment grade securities is below 80%, the Fund will only purchase qualifying securities and not purchase additional non-investment grade securities.

The Fund may invest up to 20% of its total assets in other securities, including fixed-income securities rated, at the time of purchase, below investment grade (“high yield” or “junk” bonds) or the unrated equivalent as determined by the Sub-Adviser, U.S. dollar denominated foreign securities, securities of other registered investment companies, including ETFs, cash, and cash equivalents.

The Fund expects to invest up to 30% of its total assets in U.S. dollar-denominated, investment-grade fixed income debt instruments issued by non-U.S. domiciled issuers.

Income Research + Management (“IR+M” or the “Sub-Adviser”) serves as the Fund’s sub-adviser. The Sub-Adviser selects securities for the Fund based on a variety of factors, including credit quality, diversification benefits, and the relative expected after-tax returns of taxable and municipal securities (considering federal tax rates and without regard to state and local income taxes). Consistent with the Fund’s investment objective, the Fund could continue to hold a security even if the interest on that security changes from being tax-exempt to taxable. If the Fund should hold a municipal security that loses its tax-exempt status retroactively, the Sub-Adviser will evaluate the after-tax yield of the security relative to the broader universe of U.S. dollar-denominated, investment-grade fixed income debt instruments that the Sub-Adviser follows to determine whether to continue to hold or dispose of the security. Although the Fund may invest in instruments of any duration or maturity, the Fund normally will seek to maintain a weighted average portfolio duration of between 1.5 and 2 years. The Fund’s dollar weighted average portfolio duration, however, may be longer or shorter at any time or from time to time based on market conditions (including, among other events or factors, lack of liquidity in the bond markets or periods of high volatility and reduced liquidity) in the Sub-Adviser’s discretion. For example, the price of a security with a two-year duration would be expected to drop approximately 2% in response to a 1% increase in interest rates. As part of its tax-aware strategy, the Fund typically sells securities when, in the opinion of the Sub-Adviser, the anticipated performance benefit justifies the resulting gain. This strategy often includes minimizing the sale of securities with large unrealized gains, holding securities long enough to avoid short-term capital gains taxes, selling securities with a higher cost basis first and offsetting capital gains realized in one security by selling another security at a capital loss.

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TAXX - Performance

Return Ranking - Trailing

Period TAXX Return Category Return Low Category Return High Rank in Category (%)
YTD N/A N/A N/A N/A
1 Yr N/A N/A N/A N/A
3 Yr N/A* N/A N/A N/A
5 Yr N/A* N/A N/A N/A
10 Yr N/A* N/A N/A N/A

* Annualized

Return Ranking - Calendar

Period TAXX Return Category Return Low Category Return High Rank in Category (%)
2023 N/A N/A N/A N/A
2022 N/A N/A N/A N/A
2021 N/A N/A N/A N/A
2020 N/A N/A N/A N/A
2019 N/A N/A N/A N/A

Total Return Ranking - Trailing

Period TAXX Return Category Return Low Category Return High Rank in Category (%)
YTD N/A N/A N/A N/A
1 Yr N/A N/A N/A N/A
3 Yr N/A* N/A N/A N/A
5 Yr N/A* N/A N/A N/A
10 Yr N/A* N/A N/A N/A

* Annualized

Total Return Ranking - Calendar

Period TAXX Return Category Return Low Category Return High Rank in Category (%)
2023 N/A N/A N/A N/A
2022 N/A N/A N/A N/A
2021 N/A N/A N/A N/A
2020 N/A N/A N/A N/A
2019 N/A N/A N/A N/A

TAXX - Holdings

Concentration Analysis

TAXX Category Low Category High TAXX % Rank
Net Assets 52.9 M N/A N/A N/A
Number of Holdings 185 N/A N/A N/A
Net Assets in Top 10 11.2 M N/A N/A N/A
Weighting of Top 10 15.51% N/A N/A N/A

Top 10 Holdings

  1. ILLINOIS ST REGD N/C B/E 5.00000000 1.73%
  2. MICHIGAN ST FIN AUTH REVENUE REGD N/C B/E 5.00000000 1.71%
  3. SAINT JOSEPH CNTY IN ECON DEV REGD N/C B/E 5.00000000 1.67%
  4. NORTH EAST TX INDEP SCH DIST REGD V/R B/E PSF-GTD 3.75000000 1.56%
  5. PITTSBURGH ALLEGHENY CNTY PA REGD N/C B/E AGM 4.00000000 1.55%
  6. WEST VIRGINIA ST HSG DEV FUND REGD N/C B/E 3.25000000 1.53%
  7. NEW YORK CITY NY TRANSITIONAL REGD B/E 5.00000000 1.51%
  8. INDIANA ST MUNI PWR AGY REGD B/E 5.00000000 1.43%
  9. HAMILTON IN S ESTRN SCHS REGD N/C B/E ST INTE 5.00000000 1.41%
  10. MADISON MACOUPIN ETC CNTYS ILC REGD B/E AGM 4.00000000 1.41%

Asset Allocation

Weighting Return Low Return High TAXX % Rank
Bonds
98.66% N/A N/A N/A
Cash
1.34% N/A N/A N/A
Stocks
0.00% N/A N/A N/A
Preferred Stocks
0.00% N/A N/A N/A
Other
0.00% N/A N/A N/A
Convertible Bonds
0.00% N/A N/A N/A

Bond Sector Breakdown

Weighting Return Low Return High TAXX % Rank
Derivative
0.00% N/A N/A N/A
Cash & Equivalents
0.00% N/A N/A N/A
Securitized
0.00% N/A N/A N/A
Corporate
0.00% N/A N/A N/A
Municipal
0.00% N/A N/A N/A
Government
0.00% N/A N/A N/A

Bond Geographic Breakdown

Weighting Return Low Return High TAXX % Rank
US
98.66% N/A N/A N/A
Non US
0.00% N/A N/A N/A

TAXX - Expenses

Operational Fees

TAXX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.35% N/A N/A N/A
Management Fee 0.35% N/A N/A N/A
12b-1 Fee N/A N/A N/A N/A
Administrative Fee N/A N/A N/A N/A

Sales Fees

TAXX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A N/A N/A N/A
Deferred Load N/A N/A N/A N/A

Trading Fees

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

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

TAXX - Distributions

Dividend Yield Analysis

TAXX Category Low Category High TAXX % Rank
Dividend Yield 3.51% N/A N/A N/A

Dividend Distribution Analysis

TAXX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly

Net Income Ratio Analysis

TAXX Category Low Category High TAXX % Rank
Net Income Ratio N/A N/A N/A N/A

Capital Gain Distribution Analysis

TAXX Category Low Category High Capital Mode
Capital Gain Distribution Frequency

Distributions History

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TAXX - Fund Manager Analysis

Tenure Analysis

Category Low Category High Category Average Category Mode
N/A N/A N/A N/A