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Trending ETFs

RiverFront Dynamic Core Income ETF

Active ETF
RFCI
Payout Change
Pending
Price as of:
$22.2453 +0.01 +0.02%
primary theme
U.S. Intermediate-Term Bond Duration
RFCI (ETF)

RiverFront Dynamic Core Income ETF

Payout Change
Pending
Price as of:
$22.2453 +0.01 +0.02%
primary theme
U.S. Intermediate-Term Bond Duration
RFCI (ETF)

RiverFront Dynamic Core Income ETF

Payout Change
Pending
Price as of:
$22.2453 +0.01 +0.02%
primary theme
U.S. Intermediate-Term Bond Duration

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

$22.25

$29 M

4.09%

$0.91

0.53%

Vitals

YTD Return

-0.5%

1 yr return

4.0%

3 Yr Avg Return

-0.2%

5 Yr Avg Return

1.4%

Net Assets

$29 M

Holdings in Top 10

48.6%

52 WEEK LOW AND HIGH

$22.2
$21.00
$22.67

Expenses

OPERATING FEES

Expense Ratio 0.53%

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

$22.25

$29 M

4.09%

$0.91

0.53%

RFCI - Profile

Distributions

  • YTD Total Return -0.5%
  • 3 Yr Annualized Total Return -0.2%
  • 5 Yr Annualized Total Return 1.4%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 1.83%
DIVIDENDS
  • Dividend Yield 4.1%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    RiverFront Dynamic Core Income ETF
  • Fund Family Name
    ALPS Advised Funds
  • Inception Date
    Jun 13, 2016
  • Shares Outstanding
    3400000
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Tim Anderson

Fund Description

The Fund seeks to achieve its investment objective by investing in a global portfolio of fixed income securities of various maturities, ratings and currency denominations. The Fund allocates its investments based upon the analysis of RiverFront Investment Group, LLC (“RiverFront”, or the “Sub-Adviser”) of the pertinent economic and market conditions, as well as yield, maturity, credit and currency considerations.

The Fund’s portfolio is constructed by RiverFront through a two-step process. The first step involves setting the strategic allocation among a broad array of fixed income asset classes, with the objective being to construct an allocation that is designed to balance the probability of upside returns with downside risks, assuming a five-year time horizon.

The second step involves RiverFront tactically adjusting these allocations as market conditions warrant and determining security selection within the asset classes in order to seek to maximize potential returns. The Fund’s allocation across long-term, medium-term and short-term investment grade securities, long-term and short-term high yield securities and emerging market debt is adjusted at least annually, but may be adjusted more frequently if, in the sole discretion of RiverFront, market conditions warrant. RiverFront’s allocation decisions will be based on a quantitative methodology, the inputs for which reflect RiverFront’s qualitative judgements about market conditions.

The Fund may purchase fixed income securities issued by U.S. or foreign corporations or financial institutions, including debt securities of all types and maturities, convertible securities and preferred stocks. The Fund also may purchase securities issued or guaranteed by the U.S. Government or foreign governments (including foreign states, provinces and municipalities) or their agencies and instrumentalities (“government entities”) or issued or guaranteed by international organizations designated or supported by multiple government entities to promote economic reconstruction or development (“supranational entities”). The Fund may purchase or sell securities on a when issued, delayed delivery or forward commitment basis. The Fund may also invest in other exchange-traded funds (“ETFs”) and/or closed-end funds which invest in fixed income securities.

The Fund has established a credit rating criteria for the fixed income securities in which it may invest, and it may invest up to 15% in high yield securities (“junk bonds”). Junk bonds are debt securities that are rated below investment grade by nationally recognized statistical rating organizations (“NRSROs”), or are unrated securities that the Sub-Adviser believes are of comparable quality. The Sub-Adviser considers the credit ratings assigned by NRSROs as one of several factors in its independent credit analysis of issuers.

The Fund may invest without limitation in U.S. dollar-denominated securities of foreign issuers in developed markets. The Fund may invest up to 10% of its assets in securities denominated in foreign currencies and up to 10% of its assets in securities of issuers located in emerging markets. In certain circumstances,

the Sub-Adviser may attempt to offset a portion or all of the foreign currency exposure in these securities by entering into contracts with banks, brokers or dealers to purchase or sell securities or foreign currencies at a future date (“forward contracts”). The Fund may elect to enter into swap contracts that effectively bundle the purchase of foreign bonds and the hedging of foreign currency into a single transaction.

The average maturity or duration of the Fund’s portfolio of fixed income securities will vary based on the Sub-Adviser’s assessment of economic and market conditions, as well as current and anticipated changes in interest rates; however, the Sub-Adviser intends to manage the Fund’s portfolio so that it has an average duration of between two and eight years, under normal circumstances. Duration measures the price sensitivity of a security to interest rate changes. The longer the duration, the more sensitive the Fund’s portfolio will be to a change in interest rates. A 1% change in interest rates is typically estimated to change the price of a fixed income security by 1% for each year of the security’s duration. For example, if a fixed income security has a duration of three years, a 1% rise in interest rates would typically be expected to reduce the price of the security by approximately 3%. Similar estimates would typically apply to a portfolio of fixed income securities, such as the Fund’s, based on the portfolio’s average duration. As the value of a security changes over time, so will its duration, which in turn will affect the Fund’s duration.

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RFCI - Performance

Return Ranking - Trailing

Period RFCI Return Category Return Low Category Return High Rank in Category (%)
YTD -0.5% -6.0% 3.9% 37.88%
1 Yr 4.0% -10.3% 16.1% 11.82%
3 Yr -0.2%* -10.4% 26.2% 1.36%
5 Yr 1.4%* -6.6% 191.4% 10.99%
10 Yr N/A* -2.4% 73.7% 7.17%

* Annualized

Return Ranking - Calendar

Period RFCI Return Category Return Low Category Return High Rank in Category (%)
2023 2.2% -16.2% 8.1% 45.39%
2022 -11.3% -34.7% 131.9% 3.04%
2021 -4.8% -11.6% 4.4% 91.13%
2020 4.3% -10.1% 946.1% 47.27%
2019 5.8% -1.7% 156.4% 43.17%

Total Return Ranking - Trailing

Period RFCI Return Category Return Low Category Return High Rank in Category (%)
YTD -0.5% -6.0% 3.9% 37.88%
1 Yr 4.0% -10.3% 16.1% 11.82%
3 Yr -0.2%* -10.4% 26.2% 1.36%
5 Yr 1.4%* -6.6% 191.4% 10.99%
10 Yr N/A* -2.4% 73.7% N/A

* Annualized

Total Return Ranking - Calendar

Period RFCI Return Category Return Low Category Return High Rank in Category (%)
2023 6.0% -11.3% 11.0% 51.73%
2022 -7.3% -32.2% 131.9% 0.71%
2021 -1.5% -9.4% 9.2% 68.11%
2020 6.3% -1.9% 1009.0% 85.81%
2019 8.7% 1.1% 21668.0% 54.56%

RFCI - Holdings

Concentration Analysis

RFCI Category Low Category High RFCI % Rank
Net Assets 29 M 2.73 M 292 B 97.27%
Number of Holdings 44 1 17889 96.77%
Net Assets in Top 10 12.5 M -106 M 36.5 B 94.42%
Weighting of Top 10 48.56% 4.4% 134.1% 10.93%

Top 10 Holdings

  1. State Street Institutional Treasury Plus Money Market Fund 10.77%
  2. U.S. Treasury Bond 10.49%
  3. U.S. Treasury Bond 3.99%
  4. Blue Owl Credit Income Corp. 3.86%
  5. U.S. Treasury Bond 3.63%
  6. General Motors Financial Co., Inc. 3.43%
  7. Ingersoll Rand, Inc. 3.38%
  8. Hyatt Hotels Corp. 3.37%
  9. Concentrix Corp. 3.28%
  10. Bank of America Corp. 2.35%

Asset Allocation

Weighting Return Low Return High RFCI % Rank
Bonds
92.13% 0.00% 215.98% 64.65%
Cash
10.77% -54.51% 88.26% 14.77%
Convertible Bonds
0.50% 0.00% 7.93% 80.30%
Stocks
0.00% 0.00% 99.93% 53.71%
Preferred Stocks
0.00% 0.00% 74.68% 49.71%
Other
0.00% -13.23% 58.65% 80.23%

Bond Sector Breakdown

Weighting Return Low Return High RFCI % Rank
Corporate
87.67% 0.00% 100.00% 0.30%
Government
11.74% 0.00% 86.23% 81.87%
Cash & Equivalents
10.77% 0.00% 88.06% 15.66%
Derivative
0.00% -5.38% 58.65% 50.78%
Securitized
0.00% 0.00% 98.40% 98.82%
Municipal
0.00% 0.00% 100.00% 80.79%

Bond Geographic Breakdown

Weighting Return Low Return High RFCI % Rank
US
92.13% 0.00% 215.98% 57.14%
Non US
0.00% 0.00% 39.04% 57.14%

RFCI - Expenses

Operational Fees

RFCI Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.53% 0.01% 39.10% 68.34%
Management Fee 0.51% 0.00% 1.76% 91.70%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.50% N/A

Sales Fees

RFCI Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.00% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

RFCI Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 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.

RFCI Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 2.00% 493.39% 0.22%

RFCI - Distributions

Dividend Yield Analysis

RFCI Category Low Category High RFCI % Rank
Dividend Yield 4.09% 0.00% 9.75% 40.63%

Dividend Distribution Analysis

RFCI Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annual Monthly Monthly

Net Income Ratio Analysis

RFCI Category Low Category High RFCI % Rank
Net Income Ratio 1.83% -1.28% 4.79% 40.33%

Capital Gain Distribution Analysis

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

Distributions History

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RFCI - Fund Manager Analysis

Managers

Tim Anderson


Start Date

Tenure

Tenure Rank

Jun 10, 2016

5.98

6.0%

Tim Anderson, CFA: Global Fixed Income CIO Tim brings over 25 years of experience in all aspects of the fixed-income arena. In 1998, Tim began a working relationship with many individuals on the RiverFront investment team when he moved to Richmond to manage a high yield bond portfolio. Tim was one of RiverFront’s founding employees and has been managing RiverFront’s fixed income strategies, sub-advised ETFs, and the fixed income portion of RiverFront’s balanced portfolios since their inception. Prior to launching RiverFront, Tim served as the Chief Fixed-Income Strategist at Wachovia Securities. He earned a BS in Finance from DePaul University and an MBA from the University of Chicago. He received his CFA designation in 1993.

Kevin Nicholson


Start Date

Tenure

Tenure Rank

Mar 31, 2020

2.17

2.2%

Kevin Nicholson, CFA: Chief Market Strategist, COO of RiverShares Division Kevin serves as Chief Market Strategist and COO of RiverShares Division and is responsible for raising and deploying cash in the portfolios, as well as determining which asset classes to use as funding or investment sources when making the tactical allocation decisions in the RiverFront strategies. Kevin's career has spanned over 25 years and during that time he has served in various capacities in trading, portfolio management and risk management. He joined RiverFront in 2010 and served as the senior Fixed Income Portfolio Manager for 2 years and the Chief Risk Officer for 4 years. In his role as Chief Market Strategist, his primary responsibility is implementing the tactical asset allocation shifts in the firm’s strategies. In addition, Kevin serves on the firm’s Investment Committee. He is also a regular guest on financial news channels (CNBC, Bloomberg) and is frequently quoted in the financial press. Kevin earned a BA in Business and Economics from Randolph-Macon College and an MBA from Virginia Commonwealth University. He earned his CFA designation in 2014.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.07 33.43 6.82 1.16