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AAM S&P 500 High Dividend Value ETF

ETF
SPDV
Payout Change
Pending
Price as of:
$30.101 +0.15 +0.51%
primary theme
U.S. Large-Cap Value Equity
SPDV (ETF)

AAM S&P 500 High Dividend Value ETF

Payout Change
Pending
Price as of:
$30.101 +0.15 +0.51%
primary theme
U.S. Large-Cap Value Equity
SPDV (ETF)

AAM S&P 500 High Dividend Value ETF

Payout Change
Pending
Price as of:
$30.101 +0.15 +0.51%
primary theme
U.S. Large-Cap Value Equity

Name

As of 04/23/2024

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

AAM S&P 500 High Dividend Value ETF

SPDV | ETF

$30.10

$60.5 M

0.00%

0.29%

Vitals

YTD Return

3.1%

1 yr return

11.9%

3 Yr Avg Return

4.0%

5 Yr Avg Return

6.8%

Net Assets

$60.5 M

Holdings in Top 10

25.3%

52 WEEK LOW AND HIGH

$29.9
$25.33
$31.41

Expenses

OPERATING FEES

Expense Ratio 0.29%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 69.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

N/A

IRA

N/A

Fund Classification

Fund Type

Exchange Traded Fund

Name

As of 04/23/2024

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

AAM S&P 500 High Dividend Value ETF

SPDV | ETF

$30.10

$60.5 M

0.00%

0.29%

SPDV - Profile

Distributions

  • YTD Total Return 3.1%
  • 3 Yr Annualized Total Return 4.0%
  • 5 Yr Annualized Total Return 6.8%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 3.19%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    AAM S&P 500 High Dividend Value ETF
  • Fund Family Name
    AAM
  • Inception Date
    Nov 28, 2017
  • Shares Outstanding
    2225000
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Austin Wen

Fund Description

The Fund uses a “passive management” (or indexing) approach to track the total return performance, before fees and expenses, of the Index.
S&P 500 Dividend and Free Cash Flow Yield Index
The Index is a rules-based, equal-weighted index that is designed to provide exposure to the constituents of the S&P 500® Index that exhibit both high dividend yield and sustainable dividend distribution characteristics, while maintaining diversified sector exposure. The Index was developed in 2017 by S&P Dow Jones Indices, a division of S&P Global (the “Index Provider”). The S&P 500 Index consists of approximately 500 leading U.S.-listed companies representing approximately 80% of the U.S. equity market capitalization, and may include real estate investment trusts (“REITs”).
Construction of the Index begins with the universe of equity securities that are included in the S&P 500 Index. For each equity security in the S&P 500 Index, the security’s dividend yield and free-cash-flow yield (i.e., a company’s cash flow from operations less capital expenditures divided by its market capitalization) are adjusted to account for outliers. If a security’s dividend yield or free-cash-flow yield is in the top or bottom 2.5% of the S&P 500 Index, the dividend yield or free-cash-flow yield, as applicable, for such security is replaced with the dividend yield or free-cash-flow yield of the security nearest to such top or bottom 2.5% threshold. The universe is then screened to keep only equity securities with a positive indicated annual dividend yield (i.e., yield based on a company’s most recent dividend amount) and free-cash-flow yield. The remaining securities are referred to as the “Selection Pool”.
For each security in the Selection Pool, the security’s dividend yield and free-cash-flow yield are then scored using a statistical normalization model (i.e., a tool to compare how close each yield is to the average yield for the Selection Pool) to assign a dividend yield score and free-cash-flow yield score from zero to one for each company. The equity securities in the Selection Pool are then ranked by the product of their dividend yield score and free-cash-flow yield score, and the top five scoring securities are selected from each sector (collectively, the “Index Constituents”). The Index uses Standard & Poor’s Global Industry Classification Standards to define companies within one of the following sectors: consumer discretionary, consumer staples, energy, financials, health care,
industrials, information technology, materials, real estate, communication services, and utilities. Fewer than five securities may be selected if there are fewer than five securities in the Selection Pool for a given sector.
The Index is reconstituted (i.e., Index Constituents are added or deleted and weights are reset to equal-weight) semi-annually after the close of the last business day in January and July. At the time of each reconstitution of the Index, Index Constituents are added or deleted based on company data as of the last business day of December and June, respectively, and the Index Constituents are equally-weighted based on closing prices as of five business days prior to the last business day of the reconstitution month. If an Index Constituent is removed from the S&P 500 Index, such security will simultaneously be removed from the Index. Additions to the Index Constituents only take place during the semi-annual reconstitutions.
The Fund’s Investment Strategy
The Fund will generally use a “replication” strategy to achieve its investment objective, meaning the Fund generally will invest in all of the component securities of the Index in approximately the same proportion 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).
The Fund may invest in securities or other investments not included in the Index, but which the Fund’s sub-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).
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.
Under normal circumstances, at least 80% of the Fund’s net assets, plus borrowings for investment purposes, will be invested in equity securities that (i) are included in the S&P 500 Index and (ii) have had a positive indicated annual dividend yield within the past year.
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SPDV - Performance

Return Ranking - Trailing

Period SPDV Return Category Return Low Category Return High Rank in Category (%)
YTD 3.1% -4.3% 12.4% 81.34%
1 Yr 11.9% -8.9% 32.5% 72.36%
3 Yr 4.0%* -3.8% 29.8% 87.08%
5 Yr 6.8%* -1.6% 42.9% 90.26%
10 Yr N/A* 1.2% 24.4% 72.43%

* Annualized

Return Ranking - Calendar

Period SPDV Return Category Return Low Category Return High Rank in Category (%)
2023 1.2% -24.9% 46.1% 80.97%
2022 -5.8% -64.7% 4.6% 14.21%
2021 25.4% -44.2% 57.5% 10.39%
2020 -10.1% -23.2% 285.0% 94.17%
2019 16.1% -21.4% 48.5% 71.71%

Total Return Ranking - Trailing

Period SPDV Return Category Return Low Category Return High Rank in Category (%)
YTD 3.1% -4.3% 12.4% 81.34%
1 Yr 11.9% -8.9% 32.5% 72.36%
3 Yr 4.0%* -3.8% 29.8% 87.08%
5 Yr 6.8%* -1.6% 42.9% 90.26%
10 Yr N/A* 1.2% 24.4% N/A

* Annualized

Total Return Ranking - Calendar

Period SPDV Return Category Return Low Category Return High Rank in Category (%)
2023 5.5% -15.9% 46.7% 85.99%
2022 -2.3% -42.0% 8.5% 20.46%
2021 29.5% 3.6% 129.7% 16.08%
2020 -6.1% -22.6% 304.8% 95.86%
2019 20.5% -12.7% 52.1% 92.05%

SPDV - Holdings

Concentration Analysis

SPDV Category Low Category High SPDV % Rank
Net Assets 60.5 M 1.09 M 163 B 87.93%
Number of Holdings 50 2 1689 79.81%
Net Assets in Top 10 15.3 M 420 K 33.9 B 89.99%
Weighting of Top 10 25.28% 4.8% 99.9% 60.77%

Top 10 Holdings

  1. Seagate Technology Holdings PLC 2.91%
  2. Phillips 66 2.72%
  3. International Business Machines Corp 2.65%
  4. Westrock Co 2.64%
  5. Verizon Communications Inc 2.51%
  6. KeyCorp 2.46%
  7. Bath Body Works Inc 2.43%
  8. ATT Inc 2.38%
  9. AbbVie Inc 2.31%
  10. Zions Bancorp NA 2.27%

Asset Allocation

Weighting Return Low Return High SPDV % Rank
Stocks 		99.90% 1.86% 108.42% 4.96%
Cash 		0.22% -0.79% 38.18% 87.21%
Preferred Stocks 		0.00% 0.00% 13.88% 88.60%
Other 		0.00% -3.53% 39.72% 87.12%
Convertible Bonds 		0.00% 0.00% 3.66% 88.13%
Bonds 		0.00% -0.71% 73.23% 88.60%

Stock Sector Breakdown

Weighting Return Low Return High SPDV % Rank
Energy 		11.45% 0.00% 54.00% 13.76%
Healthcare 		11.17% 0.00% 30.08% 92.11%
Consumer Cyclical 		9.84% 0.00% 22.74% 10.78%
Industrials 		9.46% 0.00% 42.76% 71.78%
Utilities 		9.45% 0.00% 27.04% 8.06%
Consumer Defense 		9.39% 0.00% 34.10% 37.34%
Communication Services 		8.83% 0.00% 26.58% 10.34%
Technology 		8.75% 0.00% 54.02% 72.13%
Real Estate 		8.20% 0.00% 90.54% 2.72%
Financial Services 		7.15% 0.00% 58.05% 99.12%
Basic Materials 		6.31% 0.00% 21.69% 10.25%

Stock Geographic Breakdown

Weighting Return Low Return High SPDV % Rank
US 		99.90% 1.86% 108.42% 4.26%
Non US 		0.00% 0.00% 27.89% 90.77%

SPDV - Expenses

Operational Fees

SPDV Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.29% 0.03% 14.82% 94.93%
Management Fee 0.29% 0.00% 1.50% 8.36%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.00% 0.50% N/A

Sales Fees

SPDV Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.00% 5.75% N/A
Deferred Load N/A 0.95% 5.00% N/A

Trading Fees

SPDV 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.

SPDV Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 69.00% 0.00% 488.00% 76.27%

SPDV - Distributions

Dividend Yield Analysis

SPDV Category Low Category High SPDV % Rank
Dividend Yield 0.00% 0.00% 38.10% 35.71%

Dividend Distribution Analysis

SPDV Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annual Quarterly Quarterly

Net Income Ratio Analysis

SPDV Category Low Category High SPDV % Rank
Net Income Ratio 3.19% -1.51% 4.28% 2.40%

Capital Gain Distribution Analysis

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

Distributions History

View More +

SPDV - Fund Manager Analysis

Managers

Austin Wen

Start Date

Tenure

Tenure Rank

Nov 28, 2017

4.51

4.5%

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
0.05 86.59 8.07 16.42

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