SonicShares Global Shipping ETF
Name
As of 03/27/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
1.3%
1 yr return
14.7%
3 Yr Avg Return
N/A
5 Yr Avg Return
N/A
Net Assets
$46.1 M
Holdings in Top 10
48.6%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 0.69%
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 03/27/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
BOAT - Profile
Distributions
- YTD Total Return 1.3%
- 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
- Dividend Yield 10.0%
- Dividend Distribution Frequency Quarterly
Fund Details
-
Legal NameSonicShares Global Shipping ETF
-
Fund Family NameN/A
-
Inception DateAug 03, 2021
-
Shares OutstandingN/A
-
Share ClassN/A
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerCharles Ragauss
Fund Description
The Fund uses a “passive management” (or indexing) approach to track the performance, before fees and expenses, of the Index. The Index was developed in 2021 and is administered by Solactive AG (the “Index Provider”).
Solactive Global Shipping Index
The Index is a rules-based index that seeks to provide exposure to a global portfolio of companies identified as being engaged in the water transportation industry, as described in more detail below.
The Index’s initial investable universe consists of equity securities and depositary receipts (including American Depositary Receipts (“ADRs”) and Global Depositary Receipts (“GDRs”)) of companies listed on exchanges in Australia, Brazil, Canada, Hong Kong, Israel, Japan, Mexico, New Zealand, Norway, Republic of South Korea, Singapore, Switzerland, United Kingdom, United States of America, or any member country of the European Union. To qualify for initial inclusion in the Index, companies must have a minimum market capitalization of $250 million and a minimum three-month average daily traded volume of $1 million.
To further qualify for inclusion in the Index, companies that meet the initial criteria are classified to identify those companies within one of the following sub-industries, according to the FactSet Revere Business and Industry Classification System (“FactSet RBICS”) (hereinafter, “Global Shipping Companies”):
• | Container Deep Sea and Offshore Shipping: Companies that transport goods in containers, including roll on/roll off vessels, which are designed to accommodate cargo driven directly aboard, such as autos and trucks/trailers; |
• | Multi-Type Deep Sea and Offshore Shipping: Companies that transport dry bulk (e.g. coal, iron-ore, grain and fertilizer) and other non-petroleum cargo across oceans; |
• | Dry Bulk Deep Sea and Offshore Shipping: Companies that transport a variety of dry bulk, including coal, grain, ore and fertilizer; |
• | Crude Oil Transportation: Companies that transport crude oil; |
• | Liquid Natural Gas Transportation: Companies that operate fleets which transport liquid natural gas; |
• | Refined Petroleum and Other Liquid Transportation: Companies that transport refined petroleum products, including gasoline, diesel, liquid petroleum gas), as well as other non-petroleum liquids, such as edible oils; or |
• | Multi-Type Petroleum Transportation: Companies that transport petroleum products using barges or very large crude carriers. |
FactSet RBICS is a comprehensive structured taxonomy designed to offer precise classification of global companies. For a company to be included in a FactSet RBICS sub-industry, the company must derive 50% or more of its revenue from such sub-industry.
The Index is reconstituted three Thursdays prior to the third Friday of June and of December (or the next business day if this falls on a non-business day) (the “Selection Day”) and adjustments are made on the third Friday of June and of December (or the next business day if this falls on a non-business day). At the time of each reconstitution, the Index components are weighted whereby each of the eight largest components by market capitalization will be assigned an Index weight of 5%. The remaining Index components are weighted based on their market capitalizations as well as average daily trading volume, subject to a maximum Index weight of 4% for each component.
The weights of the Index components are determined on the Selection Day and such weights float with the price of the components from the Selection Day forward until the next Selection Day.
An Index component will be removed from the Index if, on Selection Day, it does not have a market capitalization of at least $125 million.
As of June 30, 2023, the Index was comprised of 48 components and companies in the transportation industry comprised 100% of the Index.
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 “Index Components”).
Under normal circumstances, at least 80% of the Fund’s net assets, plus borrowings for investment purposes, will be invested in Global Shipping Companies, as defined above.
The Fund will concentrate its investments in a particular industry or group of industries (i.e., hold more than 25% of its total assets in the securities of a particular industry or group of related industries) to approximately the same extent as the Index is so concentrated.
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 Index Components whose risk, return and other characteristics closely resemble the risk, return and other characteristics of the Index as a whole, when the Fund’s investment 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 Component 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 also may invest in securities or other investments not included in the Index, but which the Fund’s investment adviser believes will help the Fund track the Index. For example, the Fund may invest in securities that are not Index Components to reflect various corporate actions and other changes to the Index (such as reconstitutions, additions, and deletions).
The Fund is deemed to be non-diversified under the Investment Company Act of 1940, as amended (the “1940 Act”), which means that it may invest a greater percentage of its assets in the securities of a single issuer or a smaller number of issuers than if it was a diversified fund.
BOAT - Performance
Return Ranking - Trailing
Period | BOAT Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 1.3% | -18.1% | 17.3% | 23.26% |
1 Yr | 14.7% | -20.9% | 22.1% | N/A |
3 Yr | N/A* | -0.4% | 27.1% | N/A |
5 Yr | N/A* | -4.4% | 14.0% | N/A |
10 Yr | N/A* | 0.1% | 15.0% | N/A |
* Annualized
Return Ranking - Calendar
Period | BOAT Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 7.7% | -42.9% | 23.1% | N/A |
2022 | -6.6% | -100.0% | 15.6% | N/A |
2021 | N/A | -4.7% | 39.8% | N/A |
2020 | N/A | -29.1% | 9.0% | N/A |
2019 | N/A | -7.2% | 14.3% | N/A |
Total Return Ranking - Trailing
Period | BOAT Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 1.3% | -35.8% | 17.3% | 88.37% |
1 Yr | 14.7% | -20.9% | 99.6% | N/A |
3 Yr | N/A* | -0.4% | 27.1% | N/A |
5 Yr | N/A* | -4.4% | 18.7% | N/A |
10 Yr | N/A* | 3.4% | 15.0% | N/A |
* Annualized
Total Return Ranking - Calendar
Period | BOAT Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 24.4% | -42.9% | 23.1% | N/A |
2022 | 6.3% | -100.0% | 15.6% | N/A |
2021 | N/A | -4.7% | 39.8% | N/A |
2020 | N/A | -29.1% | 9.0% | N/A |
2019 | N/A | -7.2% | 14.3% | N/A |
BOAT - Holdings
Concentration Analysis
BOAT | Category Low | Category High | BOAT % Rank | |
---|---|---|---|---|
Net Assets | 46.1 M | 2.01 M | 13.7 B | 77.78% |
Number of Holdings | 49 | 24 | 375 | 56.25% |
Net Assets in Top 10 | 18.2 M | 3.83 K | 5.66 B | 68.75% |
Weighting of Top 10 | 48.57% | 14.2% | 74.8% | 33.33% |
Top 10 Holdings
- Kawasaki Kisen Kaisha Ltd 5.66%
- Mitsui OSK Lines Ltd 5.40%
- AP Moller - Maersk A/S 5.24%
- HMM Co Ltd 5.23%
- Orient Overseas International Ltd 5.13%
- SITC International Holdings Co Ltd 5.04%
- Frontline PLC 4.66%
- Matson Inc 4.24%
- Scorpio Tankers Inc 4.10%
- COSCO SHIPPING Holdings Co Ltd 3.87%
Asset Allocation
Weighting | Return Low | Return High | BOAT % Rank | |
---|---|---|---|---|
Stocks | 98.95% | 96.71% | 100.04% | 85.42% |
Cash | 5.20% | -0.04% | 4.05% | 18.75% |
Preferred Stocks | 0.00% | 0.00% | 0.00% | 29.17% |
Other | 0.00% | -3.61% | 0.37% | 33.33% |
Convertible Bonds | 0.00% | 0.00% | 0.00% | 29.17% |
Bonds | 0.00% | 0.00% | 0.00% | 29.17% |
Stock Sector Breakdown
Weighting | Return Low | Return High | BOAT % Rank | |
---|---|---|---|---|
Utilities | 0.00% | 0.00% | 12.67% | 43.75% |
Technology | 0.00% | 0.00% | 43.08% | 89.58% |
Real Estate | 0.00% | 0.00% | 7.67% | 39.58% |
Industrials | 0.00% | 9.02% | 100.00% | 52.08% |
Healthcare | 0.00% | 0.00% | 7.75% | 43.75% |
Financial Services | 0.00% | 0.00% | 19.45% | 10.42% |
Energy | 0.00% | 0.00% | 13.31% | 2.08% |
Communication Services | 0.00% | 0.00% | 35.43% | 52.08% |
Consumer Defense | 0.00% | 0.00% | 3.96% | 39.58% |
Consumer Cyclical | 0.00% | 0.00% | 60.78% | 87.50% |
Basic Materials | 0.00% | 0.00% | 16.73% | 58.33% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | BOAT % Rank | |
---|---|---|---|---|
Non US | 64.07% | 0.00% | 85.60% | 4.17% |
US | 34.88% | 13.19% | 100.04% | 97.92% |
BOAT - Expenses
Operational Fees
BOAT Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.69% | 0.08% | 2.43% | 38.78% |
Management Fee | 0.69% | 0.03% | 0.85% | 86.96% |
12b-1 Fee | N/A | 0.00% | 1.00% | 25.00% |
Administrative Fee | N/A | 0.15% | 0.25% | N/A |
Sales Fees
BOAT 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% | 2.25% | N/A |
Trading Fees
BOAT 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.
BOAT Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | N/A | 2.00% | 205.00% | 37.84% |
BOAT - Distributions
Dividend Yield Analysis
BOAT | Category Low | Category High | BOAT % Rank | |
---|---|---|---|---|
Dividend Yield | 9.98% | 0.00% | 8.82% | 2.04% |
Dividend Distribution Analysis
BOAT | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Quarterly | Annually | Monthly | Quarterly |
Net Income Ratio Analysis
BOAT | Category Low | Category High | BOAT % Rank | |
---|---|---|---|---|
Net Income Ratio | N/A | -1.16% | 11.51% | 2.44% |
Capital Gain Distribution Analysis
BOAT | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Semi-Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Mar 28, 2024 | $0.314 | OrdinaryDividend |
Dec 29, 2023 | $0.748 | OrdinaryDividend |
Sep 29, 2023 | $0.550 | OrdinaryDividend |
Jun 30, 2023 | $2.447 | OrdinaryDividend |
Mar 31, 2023 | $0.338 | OrdinaryDividend |
Dec 30, 2022 | $0.650 | OrdinaryDividend |
Sep 30, 2022 | $1.070 | OrdinaryDividend |
Jun 30, 2022 | $1.273 | OrdinaryDividend |
Mar 31, 2022 | $0.778 | OrdinaryDividend |
Dec 31, 2021 | $0.352 | OrdinaryDividend |
Sep 27, 2021 | $0.052 | OrdinaryDividend |
BOAT - Fund Manager Analysis
Managers
Charles Ragauss
Start Date
Tenure
Tenure Rank
Aug 03, 2021
0.82
0.8%
Mr. Ragauss currently serves as Director of Product Management at CSat Investment Advisory, having joined the it in April 2016. Prior to joiningCSat Investment Advisory, Mr. Ragauss was Assistant Vice President at Huntington National Bank (“Huntington”), where he was Product Manager for the Huntington Funds and Huntington Strategy Shares ETFs, a combined fund complex of almost $4 billion in assets under management. At Huntington, he led ETF development bringing to market some of the first actively managed ETFs. Mr. Ragauss joined Huntington in 2010. Mr. Ragauss attended Grand Valley State University where he received his Bachelor of Business Administration in Finance and International Business, as well as a minor in French. He is a member of both the National and West Michigan CFA societies and holds the CFA designation.
Michael Venuto
Start Date
Tenure
Tenure Rank
Aug 03, 2021
0.82
0.8%
Mr. Venuto is a co-founder and has been the Chief Investment Officer of the Toroso Investments, LLC since 2012. Mr. Venuto is an ETF industry veteran with over a decade of experience in the design and implementation of ETF-based investment strategies. Previously, he was Head of Investments at Global X Funds where he provided portfolio optimization services to institutional clients. Before that, he was Senior Vice President at Horizon Kinetics where his responsibilities included new business development, investment strategy and client and strategic initiatives.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.42 | 24.18 | 8.82 | 3.5 |