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Trending ETFs

Name

As of 05/17/2024

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

$26.28

$7.72 M

1.38%

$0.36

0.62%

Vitals

YTD Return

7.0%

1 yr return

14.7%

3 Yr Avg Return

3.0%

5 Yr Avg Return

N/A

Net Assets

$7.72 M

Holdings in Top 10

47.5%

52 WEEK LOW AND HIGH

$26.2
$21.51
$26.30

Expenses

OPERATING FEES

Expense Ratio 0.62%

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 05/17/2024

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

$26.28

$7.72 M

1.38%

$0.36

0.62%

DMCY - Profile

Distributions

  • YTD Total Return 7.0%
  • 3 Yr Annualized Total Return 3.0%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio N/A
DIVIDENDS
  • Dividend Yield 1.4%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    DEMOCRACY INTERNATIONAL FUND
  • Fund Family Name
    N/A
  • Inception Date
    Mar 31, 2021
  • Shares Outstanding
    N/A
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Ryan Dofflemeyer

Fund Description

The Democracy International Fund passively tracks the Democracy Investments International Index (the “Index”), which starts with a market capitalization weighted international (ex-United States) universe and then tilts the market capitalization weightings of the counties represented in the Index (using The Economist Group, Limited’s Democracy Index) to result in an underweighting, relative to its market capitalization, of authoritarian counties, and an overweighting of more democratic countries.

The Fund uses a “passive management” (or indexing) approach in seeking to achieve its investment objective of tracking the total return performance, before fees and expenses, of the Index. The Index is comprised of companies located across the globe, but weights more heavily in the aggregate companies located in countries that are democracy-friendly and weights less heavily in the aggregate companies located in countries with authoritarian regimes. Democracy Investments Index Provider LLC (the “Index Provider”), the Fund’s index provider and an affiliate of the Adviser, analyzes the degree to which a country is democratic or authoritarian by looking to the “Democracy Score” assigned to that country by The Economist Group, Limited’s Democracy Index. A country’s Democracy Score can range from 0-10, with 0 being the lowest Democracy Score and 10 being the highest Democracy Score, and is a composite of sixty indicators, which are grouped into the following five categories:

1.

Electoral process and pluralism

2.

Civil liberties

3.

The functioning of government

4.

Political participation

5.

Political culture

The higher a country’s Democracy Score, the more democratic is the country, while the lower a country’s Democracy Score, the less democratic is the country. The Index Provider has constructed the Index in order to overweight, in the aggregate, investment in democracies that embrace ideals such as freedom of speech, fair elections and civil liberties and underweight, in the aggregate, investment in authoritarian states with links to human rights abuses such as genocide and child labor, as well as environmental abuses and government corruption. The Index is designed for investors whose values align with this investment thesis.

The Index Provider determines the country in which each company in the Index is located based on the “country of risk” designation assigned to the company by Refinitiv. A company’s country of risk designation is based on a number of criteria, including the country in which the company is domiciled, the primary stock exchange on which the company’s shares trade, the location from which the majority of the company’s revenues are generated, and the company’s reporting currency.

The Index construction process begins with the universe of companies that are current members of the Solactive GBS Global Markets ex United States Large & Mid Cap USD Index NTR (market cap weighted, international equities) (the “Solactive Index”). As of April 15, 2024, the Solactive Index consists of over 2,900 individual companies representing 49 countries and intends to track the performance of the large and mid cap segment covering approximately the largest 85% of the free-float market capitalization in global markets (as determined by Solactive AG (“Solactive”)), excluding the United States. The Index Provider first uses the country of risk assigned by a third party data provider (such as Refinitiv or Bloomberg) to each company in the Solactive Index to determine the country in which each such company is located. The Index Provider then multiplies each company’s market capitalization weighting in the Solactive Index by the Democracy Score of the country in which the company is determined to be located and normalizes the products to sum to 100%. In other words, the weight of a specific company in the Index is the product of the company’s Democracy Score and its market capitalization weighting in the Solactive Index (the “Market Capitalization Product”) divided by the sum of all the Market Capitalization Products of all companies in the Index. As a result, each company in the Solactive Index is represented in the Index, but with a different weighting that results from its Democracy Score. In this regard, the Index will consist of companies from countries with both high and low Democracy Scores, but companies located in countries with higher Democracy Scores generally are weighted more heavily in the aggregate and companies

located in countries with lower Democracy Scores are weighted less heavily in the aggregate. The Index is currently weighted more heavily in companies located in countries from developed markets as compared to emerging markets. The Index is rebalanced and reconstituted on a quarterly basis.

In constructing the Fund’s portfolio, the Adviser generally will use a representative sampling investment approach designed to achieve the Fund’s investment objective. In doing so, the Fund generally will hold (i) the securities of certain, but not all, Index constituents, consisting of common stocks and American Depositary Receipts (“ADRs”) of large- and medium-capitalization companies, and (ii) shares of country and regional-specific exchange traded funds (“ETFs”), in combination such that the Fund’s returns are designed to track the total return performance, before fees and expenses, of the Index, and the Fund’s portfolio is designed to approximate the Index’s country and sector weightings, and other characteristics such as market capitalization. The Adviser’s representative sampling strategy will result in the Fund (i) having exposure to companies that are located in the same countries as companies in the Index but that are not themselves Index constituents, and (ii) not owning or otherwise not having exposure to companies that are included in the Index. ETFs currently represent a significant portion of the Fund’s portfolio.

In addition to investing in ETFs as discussed above, the Fund also may invest in securities or other investments not included in the Index, but which the Adviser believes will help the Fund to track the Index. For example, the Fund may invest in securities that are not components of the Index so as to reflect various corporate actions and other changes to the Index (such as Index reconstitutions, additions, and deletions).

The Fund may from time to time invest a significant portion of its assets in the securities of companies in one or more countries, geographic regions or economic sectors. As of the date of this Prospectus, the Fund has significant exposure to the financials sector, as defined by the Global Industry Classification Standard (“GICS”).

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DMCY - Performance

Return Ranking - Trailing

Period DMCY Return Category Return Low Category Return High Rank in Category (%)
YTD 7.0% -28.5% 12.2% 94.64%
1 Yr 14.7% -31.2% 121.5% 93.29%
3 Yr 3.0%* -52.6% 123.6% N/A
5 Yr N/A* -11.3% 58.0% N/A
10 Yr N/A* -5.9% 10.0% N/A

* Annualized

Return Ranking - Calendar

Period DMCY Return Category Return Low Category Return High Rank in Category (%)
2023 13.1% -45.5% 71.3% N/A
2022 -16.3% -15.4% 11.9% N/A
2021 N/A -10.4% 121.9% N/A
2020 N/A -33.7% 8.5% N/A
2019 N/A -13.0% 27.5% N/A

Total Return Ranking - Trailing

Period DMCY Return Category Return Low Category Return High Rank in Category (%)
YTD 7.0% -28.5% 12.2% 97.59%
1 Yr 14.7% -31.2% 121.5% 93.29%
3 Yr 3.0%* -52.6% 123.6% N/A
5 Yr N/A* -11.3% 58.0% N/A
10 Yr N/A* -3.1% 10.0% N/A

* Annualized

Total Return Ranking - Calendar

Period DMCY Return Category Return Low Category Return High Rank in Category (%)
2023 16.6% -45.5% 71.3% N/A
2022 -14.0% -15.4% 11.9% N/A
2021 N/A -10.4% 121.9% N/A
2020 N/A -18.0% 8.5% N/A
2019 N/A -13.0% 29.4% N/A

DMCY - Holdings

Concentration Analysis

DMCY Category Low Category High DMCY % Rank
Net Assets 7.72 M 1.02 M 369 B 97.25%
Number of Holdings 197 1 10801 43.46%
Net Assets in Top 10 3.52 M 0 34.5 B 95.11%
Weighting of Top 10 47.54% 1.6% 100.0% 8.39%

Top 10 Holdings

  1. VANGUARD FTSE PACIFIC ETF MUTUAL FUND 24.88%
  2. VANGUARD FTSE EMERGING MARKE MUTUAL FUND 6.49%
  3. ISHARES MSCI TAIWAN ETF MUTUAL FUND 3.19%
  4. ISHARES MSCI INDIA ETF MUTUAL FUND 2.66%
  5. ISHARES MSCI AUSTRALIA ETF MUTUAL FUND 2.29%
  6. ISHARES MSCI JAPAN ETF MUTUAL FUND 2.23%
  7. NOVO NORDISK A/S-B COMMON STOCK 1.63%
  8. ASML HOLDING NV COMMON STOCK 1.59%
  9. NESTLE SA-REG COMMON STOCK 1.46%
  10. SHELL PLC COMMON STOCK 1.13%

Asset Allocation

Weighting Return Low Return High DMCY % Rank
Stocks
99.35% 0.00% 122.60% 33.51%
Cash
0.36% -65.15% 100.00% 62.75%
Preferred Stocks
0.29% 0.00% 1.87% 8.98%
Convertible Bonds
0.00% 0.00% 4.18% 52.97%
Bonds
0.00% -10.79% 71.30% 56.73%
Other
0.00% -16.47% 17.36% 69.75%

Stock Sector Breakdown

Weighting Return Low Return High DMCY % Rank
Utilities
0.00% 0.00% 13.68% 21.00%
Technology
0.00% 0.00% 36.32% 40.24%
Real Estate
0.00% 0.00% 14.59% 32.84%
Industrials
0.00% 5.17% 99.49% 75.77%
Healthcare
0.00% 0.00% 21.35% 70.39%
Financial Services
0.00% 0.00% 47.75% 25.44%
Energy
0.00% 0.00% 16.89% 12.25%
Communication Services
0.00% 0.00% 21.69% 56.66%
Consumer Defense
0.00% 0.00% 32.29% 86.41%
Consumer Cyclical
0.00% 0.00% 36.36% 70.52%
Basic Materials
0.00% 0.00% 23.86% 21.53%

Stock Geographic Breakdown

Weighting Return Low Return High DMCY % Rank
Non US
52.05% 0.00% 125.24% 18.36%
US
47.30% -7.78% 68.98% 86.26%

DMCY - Expenses

Operational Fees

DMCY Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.62% 0.01% 3.96% 80.24%
Management Fee 0.50% 0.00% 1.60% 33.55%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 1.00% N/A

Sales Fees

DMCY Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 3.50% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

DMCY 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.

DMCY Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 247.00% 4.17%

DMCY - Distributions

Dividend Yield Analysis

DMCY Category Low Category High DMCY % Rank
Dividend Yield 1.38% 0.00% 13.65% 1.57%

Dividend Distribution Analysis

DMCY Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Annually Quarterly Annually

Net Income Ratio Analysis

DMCY Category Low Category High DMCY % Rank
Net Income Ratio N/A -0.93% 6.38% 2.59%

Capital Gain Distribution Analysis

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

Distributions History

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DMCY - Fund Manager Analysis

Managers

Ryan Dofflemeyer


Start Date

Tenure

Tenure Rank

Mar 31, 2021

1.17

1.2%

Ryan Dofflemeyer, ProShare Advisors: Portfolio Manager since January 2011, and a registered associated person and an NFA associate member of ProShares Capital Management LLC since October 2010.

Rafael Zayas


Start Date

Tenure

Tenure Rank

Mar 31, 2021

1.17

1.2%

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.

Christopher Browne


Start Date

Tenure

Tenure Rank

Mar 31, 2021

1.17

1.2%

Christopher Browne, CFA, Chief Investment Officer of the Adviser, serves as a portfolio manager of the Fund. Prior to joining the Adviser in 2020, Mr. Browne was a Solutions Portfolio Manager for Franklin Templeton Investments, where he advised institutions and family offices on multi-asset portfolio construction. Before his employment at Franklin Templeton in 2010, Mr. Browne was a fixed income portfolio manager at California Investment Trust (now Shelton Capital), where he managed all fixed income for the firm. Other relevant experience includes Senior Manager at Autodesk Ventures, Principal at BayStar Capital, and Portfolio Administrator at Harris Bretall Sullivan & Smith, as well as Pacific Income Advisers. Mr. Browne received his MBA in International Business from Thunderbird, the American Graduate School of International Management, and has a B.A. in English from the University of California – Santa Barbara. Mr. Browne maintains an active Financial Industry Regulatory Authority (“FINRA”) Series 63 license and FINRA Series 7 license from Arq Advisors LLC, at which Mr. Browne is a registered representative. Additionally, he has earned the right to use the Chartered Financial Analyst® designation.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 30.35 6.13 2.92