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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 11/06/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
YTD Return
N/A
1 yr return
N/A
3 Yr Avg Return
N/A
5 Yr Avg Return
N/A
Net Assets
$6.4 M
Holdings in Top 10
N/A
Expense Ratio 0.35%
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 11/06/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
The Fund is an exchange-traded fund (“ETF”) that uses a “passive management” (or indexing) approach to track the performance, before fees and expenses, of the Index. The Index aims to provide a comprehensive and balanced representation of the U.S. equity market by including the largest 500 publicly traded equity securities, while specifically excluding the seven largest technology companies commonly referred to as the “Magnificent 7” (“Mag 7”) (as listed below). The Index is owned, calculated, administered, and disseminated by BITA GmbH (“Index Provider”).
The Index
I. | Eligible Universe |
The Index is rules-based. Construction of the Index begins with the eligible universe of securities which is determined based on the following criteria :
1. | Exchange Requirement: Only securities listed on the New York Stock Exchange or NASDAQ Stock Market are eligible. |
2. | Security Considerations: Only ordinary shares (e.g., common stock) are eligible. |
3. | Average Daily Traded Value: Securities with a three-month average daily traded value of less than USD 1,000,000 are excluded. |
4. | Size Requirements: Only the 700 largest securities by market capitalization are eligible. |
II. | Constituent Selection |
All securities in the eligible universe are then ranked by free float market capitalization in descending order. The top 500 securities are selected for possible inclusion in the Index, subject to the observation of entry and exit buffers. The entry and exit buffers are rules that help reduce turnover and maintain stability in the Index. The entry buffer requires a security to meet a more stringent criterion to be added to the Index, while the exit buffer ensures a security is only removed if it falls below a specific threshold. In the case of a tie at the same ranking position, the security with the highest 3-month average daily traded value is ranked higher.
All share classes of a company are included in the Index as long as they qualify for membership on a stand-alone basis. Each share class is considered a separate constituent. This means that if a company has two classes of shares that both qualify, both will be included and considered separately in the index calculations and weightings.
III. | Exclusion |
After selecting the constituents, any of the following securities, commonly known as the “Magnificent 7,” will be excluded:
Name | Ticker |
Alphabet Inc. “Class A” | GOOGL |
Alphabet Inc. “Class C” | GOOG |
Amazon.com Inc. | AMZN |
Apple Inc. | AAPL |
Meta Platforms Inc. | META |
Microsoft Corp. | MSFT |
Nvidia Corp. | NVDA |
Tesla Inc. | TSLA |
III. | Weighting |
Final constituents are weighted according to their free-float market capitalization.
IV. | Rebalancing |
The Index is reconstituted and rebalanced quarterly in March, June, September, and December at the close of business on the 3rd Friday of the rebalancing month after market close, with such rebalancing based on constituent data as of the close of business on the 1st Friday of such month.
The Fund’s Investment Strategy
The Fund will invest all, or substantially all, of its assets in the component securities that make up the Index. The Fund’s portfolio will be reconstituted and rebalanced in accordance with the Index’s reconstitution and rebalancing schedule.
Under normal circumstances, at least 80% of the Fund’s net assets, plus borrowings for investment purposes, will be invested in equity securities of large-cap companies. The Fund defines a large-cap company as a company with a market capitalization in excess of $10 billion.
The Fund will generally use a “replication” strategy to achieve its investment objective, meaning it generally will invest in all of the Index components. 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 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 will concentrate its investments (invest more than 25% of its assets) in the securities of a particular industry or group of related industries to the same extent as the Index.
The Fund may invest in securities or other investments not included in the Index, but which the Adviser believes will help the Fund track the Index. For example, the Fund may invest in securities that are not components of the Index to reflect various corporate actions and other changes to the Index (such as reconstitutions, additions, and deletions).
Period | XMAG 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
Period | XMAG 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 |
Period | XMAG 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
Period | XMAG 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 |
XMAG | Category Low | Category High | XMAG % Rank | |
---|---|---|---|---|
Net Assets | 6.4 M | N/A | N/A | N/A |
Number of Holdings | N/A | N/A | N/A | N/A |
Net Assets in Top 10 | N/A | N/A | N/A | N/A |
Weighting of Top 10 | N/A | N/A | N/A | N/A |
Weighting | Return Low | Return High | XMAG % Rank | |
---|---|---|---|---|
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 |
Cash | 0.00% | N/A | N/A | N/A |
Bonds | 0.00% | N/A | N/A | N/A |
XMAG 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 |
XMAG 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 |
XMAG Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | N/A | N/A | 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.
XMAG Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | N/A | N/A | N/A | N/A |
XMAG | Category Low | Category High | XMAG % Rank | |
---|---|---|---|---|
Dividend Yield | 0.00% | N/A | N/A | N/A |
XMAG | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Annual |
XMAG | Category Low | Category High | XMAG % Rank | |
---|---|---|---|---|
Net Income Ratio | N/A | N/A | N/A | N/A |
XMAG | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency |
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