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Trending ETFs

Name

As of 07/12/2024

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

$8.57

$24.4 M

3.21%

$0.27

2.08%

Vitals

YTD Return

0.7%

1 yr return

4.0%

3 Yr Avg Return

-2.2%

5 Yr Avg Return

N/A

Net Assets

$24.4 M

Holdings in Top 10

99.4%

52 WEEK LOW AND HIGH

$8.6
$8.05
$8.65

Expenses

OPERATING FEES

Expense Ratio 2.08%

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 07/12/2024

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

$8.57

$24.4 M

3.21%

$0.27

2.08%

ADFI - Profile

Distributions

  • YTD Total Return 0.7%
  • 3 Yr Annualized Total Return -2.2%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 0.64%
DIVIDENDS
  • Dividend Yield 3.2%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    Anfield Dynamic Fixed Income ETF
  • Fund Family Name
    Anfield
  • Inception Date
    Aug 17, 2020
  • Shares Outstanding
    1975000
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Cyrille Conseil

Fund Description

The Fund is an actively managed exchange traded fund (“ETF”) that is a “fund of funds,” meaning that it primarily invests its assets in securities of other ETFs. The Fund normally invests at least 80% of its net assets, including any borrowings for investment purposes, in other unaffiliated ETFs (“Underlying Funds”) that invest in any facet of the global debt markets, including corporate bonds, U.S. government and agency securities, private debt, foreign sovereign bonds, convertible securities, bank loans, asset-backed securities, mortgage-backed securities, and cash equivalent instruments. The Fund is not managed relative to an index and has broad flexibility to allocate its assets across different types of securities and sectors of the fixed income markets. The Fund’s strategy seeks to outperform traditional core fixed income indices and styles over full market cycles by investing dynamically. It is expected that the Fund will typically hold 8-25 Underlying Funds to gain exposure to particular segments of the fixed income markets. These concentrated dynamic allocations are made with the goal of either capitalizing on positive opportunities or avoiding market declines. The Underlying Funds may invest heavily in foreign (non-U.S.) securities, and the Fund may have significant exposure through the Underlying Funds to issuers in emerging markets. The Fund may also invest in convertible securities. The Fund may also invest in various types of derivatives, including exchange listed and over the counter (“OTC”) futures, options, total return swaps, forwards and repurchase agreements. The Fund or the Underlying Funds may use derivatives as a substitute for making direct investments in underlying instruments, to reduce certain exposures or to “hedge” against market volatility and other risks.

The Fund and the Underlying Funds may invest in fixed income instruments with fixed or adjustable (floating) rates. The Fund does not seek to maintain any particular weighted average maturity or duration, and may invest directly in or in Underlying Funds that hold fixed income instruments of any maturity or duration. The Fund and the Underlying Funds may invest in both investment grade and below investment grade (often referred to as “high yield” or “junk” bonds) securities, subject to a maximum of up to 50% of the Fund’s assets in below investment grade securities. The Fund will typically invest, through its investments in the Underlying Funds, a substantial portion of the Fund’s investments in securities of issuers with a range of credit ratings that have stable or improving fundamentals. Securities of these issuers include secured bank loans and below investment grade bonds.

Anfield Capital Management, LLC (the “Sub-Adviser”) selects potential investments based on its ongoing analysis of available opportunities. The Fund’s investment process includes bottom-up security research that incorporates a top-down economic framework. The Fund’s sector selection is driven by proprietary fundamental research. The broad economic outlook is determined in cyclical and secular forums that set the investment tone, with an orientation to capital preservation. The Fund’s price gains are balanced against a goal of preserving principle, with an emphasis on sectors with attractive fundamentals. The Fund’s sector diversity aims to spread risk across multiple industries and companies and will de-emphasize sectors when their fundamentals are poor, as measured by, among other factors, valuation, including price-to-earnings ratio, quality of earnings prospects, profit margins and earnings. The Sub-Adviser expects that the Fund will generally hold 8-25 positions, although total holdings are dependent on market conditions, the Sub-Adviser’s market views, and other factors. The Fund will sell a portfolio holding when it believes a sector has reached a target price or stop loss price, an investment thesis plays out, events fail to confirm the investment thesis, fundamentals deteriorate and cause a change to the risk-reward profile, or management identifies more attractive risk-adjusted return opportunities elsewhere.

Although the Fund normally does not engage in any direct borrowing, leverage is inherent in the derivatives it trades. While Federal law limits bank borrowings to one-third of a fund’s assets (which includes the borrowed amount), the use of derivatives is not limited in the same manner. Leverage magnifies exposure to the swings in prices of the reference asset underlying a derivative and results in increased volatility, which means the Fund will generally have the potential for greater gains, as well as the potential for greater losses, than a fund that does not use derivatives. The Fund’s investments that are denominated in foreign (non-U.S.) currencies may be hedged or un-hedged on an opportunistic basis.

The Fund may engage in active and frequent trading and could have an annual portfolio turnover of over 100%. For the purpose of achieving income, the Fund may engage in securities lending.

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ADFI - Performance

Return Ranking - Trailing

Period ADFI Return Category Return Low Category Return High Rank in Category (%)
YTD 0.7% -7.0% 12.1% 91.34%
1 Yr 4.0% -10.6% 25.5% 88.30%
3 Yr -2.2%* -17.7% 16.7% 88.77%
5 Yr N/A* -14.5% 14.7% 6.99%
10 Yr N/A* -13.9% 6.5% 5.92%

* Annualized

Return Ranking - Calendar

Period ADFI Return Category Return Low Category Return High Rank in Category (%)
2023 3.6% -12.0% 15.7% 32.68%
2022 -13.0% -31.8% 18.4% 47.91%
2021 -4.2% -26.6% 25.7% 88.62%
2020 N/A -49.2% 18.7% N/A
2019 N/A -35.1% 15.3% N/A

Total Return Ranking - Trailing

Period ADFI Return Category Return Low Category Return High Rank in Category (%)
YTD 0.7% -7.0% 12.1% 91.34%
1 Yr 4.0% -10.6% 25.5% 88.30%
3 Yr -2.2%* -17.7% 16.7% 88.77%
5 Yr N/A* -14.5% 14.7% N/A
10 Yr N/A* -13.9% 6.5% N/A

* Annualized

Total Return Ranking - Calendar

Period ADFI Return Category Return Low Category Return High Rank in Category (%)
2023 6.7% -7.0% 22.2% 71.56%
2022 -11.7% -31.8% 21.1% 73.33%
2021 -3.4% -13.5% 49.9% 94.87%
2020 N/A -28.6% 24.1% N/A
2019 N/A -4.8% 19.1% N/A

ADFI - Holdings

Concentration Analysis

ADFI Category Low Category High ADFI % Rank
Net Assets 24.4 M 2.53 M 143 B 97.97%
Number of Holdings 8 2 9213 95.57%
Net Assets in Top 10 27.7 M -204 M 70.2 B 84.27%
Weighting of Top 10 99.39% 5.8% 271.9% 5.38%

Top 10 Holdings

  1. ISHARES US TREAS 22.84%
  2. INVESCO FUNDAMEN 20.05%
  3. ISHARES IBOXX IN 17.56%
  4. ISHARES MBS ETF 17.51%
  5. JAN HEND AAA CLO 11.51%
  6. SPDR BLOOMBERG H 6.56%
  7. ISHARES CONVT BD 3.27%
  8. FT-SENIOR LOAN 0.10%

Asset Allocation

Weighting Return Low Return High ADFI % Rank
Stocks
99.40% -4.92% 99.84% 1.83%
Convertible Bonds
3.91% 0.00% 33.50% 24.76%
Cash
0.61% -94.66% 100.00% 83.97%
Preferred Stocks
0.00% 0.00% 28.28% 60.00%
Other
0.00% -66.66% 153.75% 78.17%
Bonds
0.00% 0.00% 215.76% 93.59%

Stock Sector Breakdown

Weighting Return Low Return High ADFI % Rank
Energy
61.82% 0.00% 100.00% 25.07%
Communication Services
38.18% 0.00% 100.00% 4.51%
Utilities
0.00% 0.00% 100.00% 62.82%
Technology
0.00% 0.00% 28.30% 54.93%
Real Estate
0.00% 0.00% 100.00% 58.87%
Industrials
0.00% 0.00% 100.00% 67.89%
Healthcare
0.00% 0.00% 18.60% 56.34%
Financial Services
0.00% 0.00% 100.00% 67.32%
Consumer Defense
0.00% 0.00% 99.97% 55.77%
Consumer Cyclical
0.00% 0.00% 89.95% 64.51%
Basic Materials
0.00% 0.00% 100.00% 58.31%

Stock Geographic Breakdown

Weighting Return Low Return High ADFI % Rank
US
99.40% -4.85% 99.84% 1.83%
Non US
0.00% -0.07% 17.73% 44.58%

ADFI - Expenses

Operational Fees

ADFI Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 2.08% 0.03% 20.67% 15.98%
Management Fee 0.80% 0.00% 2.29% 73.33%
12b-1 Fee 0.00% 0.00% 1.00% 4.24%
Administrative Fee N/A 0.00% 0.70% N/A

Sales Fees

ADFI 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

Trading Fees

ADFI Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.50% 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.

ADFI Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 632.00% N/A

ADFI - Distributions

Dividend Yield Analysis

ADFI Category Low Category High ADFI % Rank
Dividend Yield 3.21% 0.00% 23.30% 87.44%

Dividend Distribution Analysis

ADFI Category Low Category High Category Mod
Dividend Distribution Frequency None Monthly Monthly Monthly

Net Income Ratio Analysis

ADFI Category Low Category High ADFI % Rank
Net Income Ratio 0.64% -1.55% 11.51% 95.35%

Capital Gain Distribution Analysis

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

Distributions History

View More +

ADFI - Fund Manager Analysis

Managers

Cyrille Conseil


Start Date

Tenure

Tenure Rank

Aug 17, 2020

1.79

1.8%

Cyrille is a Portfolio Manager at Anfield Capital and member of the Investment Committee. He has over 18 years of investment management experience having most recently been associated with PIMCO for over 12 years. Cyrille was an Executive Vice President, portfolio manager, and Head of PIMCO’s global Leveraged Loan desk, where he managed over $7 billion in assets under management. Prior to his portfolio management responsibilities, Cyrille was a senior member of PIMCO’s credit research team, where he was responsible for the coverage of the Telecom, Media, and Cable industries among other industries. Cyrille holds the Chartered Financial Analyst Designation, an MBA with a concentration in finance and international business from Columbia University’s Graduate School of Business, New York, NY. He is a graduate of the Wharton School of the University of Pennsylvania, Philadelphia PA, where he received a Bachelors of Science in Economics with a concentration in finance.

Peter Van de Zilver


Start Date

Tenure

Tenure Rank

Aug 17, 2020

1.79

1.8%

Peter is Director of Portfolio Analytics and Risk Management at Anfield Capital Management, LLC. Peter has over 25 years of investment management experience, and retired in 2010 from a senior position in the PIMCO Portfolio Analytics group to work on developing quantitative trading algorithms. At PIMCO, he was responsible for the architecture, development and implementation of many of their Analytics and Risk Management systems. Peter holds the CFA designation and holds degrees in Physics, Mathematics and Economics from the Universities of Utrecht & Amsterdam, as well as an MA degree in Economics from the University of Southern California, Los Angeles

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 28.19 5.73 3.19