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Trending ETFs

Name

As of 05/22/2024

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

$27.55

$45.5 M

0.17%

$0.05

0.97%

Vitals

YTD Return

8.4%

1 yr return

22.1%

3 Yr Avg Return

N/A

5 Yr Avg Return

N/A

Net Assets

$45.5 M

Holdings in Top 10

100.1%

52 WEEK LOW AND HIGH

$27.6
$23.15
$27.85

Expenses

OPERATING FEES

Expense Ratio 0.97%

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 05/22/2024

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

$27.55

$45.5 M

0.17%

$0.05

0.97%

MSMR - Profile

Distributions

  • YTD Total Return 8.4%
  • 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
DIVIDENDS
  • Dividend Yield 0.2%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    McElhenny Sheffield Managed Risk ETF
  • Fund Family Name
    N/A
  • Inception Date
    Nov 16, 2021
  • Shares Outstanding
    N/A
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Bruce Fraser

Fund Description

The Fund is an actively managed exchange-traded fund (“ETF”) that employs proprietary trend-based and sector rotation strategies developed by McElhenny Sheffield Capital Management, LLC, the Fund’s investment sub-adviser (the “Sub-Adviser”). The Fund invests in shares of other ETFs (“Underlying Investments”) based on a rules-based process managed by the Sub-Adviser that reflects a blend of the Sub-Adviser’s trend-based and sector rotation strategies, as described below. Under normal market conditions, the Fund invests approximately 100% of its assets in the Underlying Investments. The Fund may take temporary defensive positions when the Sub-Adviser believes that current market, economic, political or other conditions are unsuitable and would impair the pursuit of the Fund’s investment objective. The Sub-Adviser expects to generally allocate approximately 50% of the Fund’s assets to each of the strategies below, although such allocations may vary over time in response to market movements.
Trend Plus Strategy
The Sub-Adviser’s “Trend Plus” strategy utilizes a rules-based trend following approach that seeks to participate in upward trends in U.S. equity markets while avoiding large drawdowns. Trend following, sometimes referred to as absolute momentum or time series momentum, is an investing approach that compares the price of a security to its own price trend (or compares the level of a stock index to its upward or downward trend), with the expectation that upward trending securities (or indices) will continue their upward move in the future. The Trend Plus strategy uses a variety of market indicators (e.g., price, breadth, and relative strength) measured daily across various timeframes to identify and assess the strength of upward trends in U.S. equity markets and allocate investments to a mix of equity or defensive ETFs accordingly. Equity ETFs used by the strategy may invest in U.S. equity securities of any market capitalization, but will typically have a strong bias toward large-capitalization companies (e.g., those comprising the Nasdaq-100 Index). Defensive ETFs used by the strategy will generally invest in (i) investment-grade bonds of any maturity, including those
issued by the U.S. government or its agencies or instrumentalities or by corporations (“Investment-Grade Bond ETFs”); (ii) derivatives and/or exchange-traded products that correlate to the investment returns of physical gold or products backed by or linked to physical gold (“Gold ETFs”); or (iii) derivatives that seek exposure to changes in the value of the U.S. dollar relative to certain leading foreign currencies (“U.S. Dollar ETFs”).
The Trend Plus strategy allocates to equity ETFs or defensive ETFs based on the daily “weight of the evidence” for upward trends as presented by the indicators described above, and the exposure may range from 100% to equity ETFs to 100% to defensive ETFs. To manage risk and avoid large drawdowns, the strategy employs a series of stop levels, such that the strategy switches from equity exposure to defensive exposure as the price of the equity market falls to the specified stop levels. The stronger the indication of an upward trend, the wider the gap before the stop level is reached, and as the indicators show the upward trend weakening, the stop levels are tightened to further mitigate downside risk. The tighter stop levels operate so that, when the indicators show a weakening of the upward trend, the strategy will switch to defensive exposure based on a smaller drop in the price of the Fund’s holdings than it would when the indicators show a stronger upward trend. Once the strategy is in a defensive mode, the Sub-Adviser will incrementally increase exposure to equity ETFs as evidence of a new upward trend in equities emerges.
Sector Rotation Strategy
The Sub-Adviser’s “Sector Rotation” strategy is a momentum-based investing strategy that seeks to participate in U.S. market segments that are demonstrating a high degree of recent momentum and that the Sub-Adviser expects to outperform the broad U.S. market over short time horizons (i.e., the next three months). Momentum investing, sometimes referred to as relative momentum, is an investing approach that looks at how the price of securities (or the level of an index) have changed in relation to the price changes of other securities (or other indices), with the expectation that the outperforming securities (or indices) will continue to exhibit future outperformance. At the beginning of each quarter, the Sub-Adviser uses a proprietary momentum scoring system to rank a variety of ETFs focused on a particular industry (e.g., biotechnology, pharmaceuticals, or aerospace & defense), sector (e.g., energy, financials, or technology), or asset class (e.g., bonds, dividend-paying stocks, or small-capitalization stocks), based on their short-and medium-term momentum, asset flows, and other measures. At such time, the strategy will allocate 40% of its exposure to the top ranked ETF and 30% to each of the next two highest ranked ETFs. As a result, the strategy may have significant exposure to particular sectors or industries or may be primarily exposed to broad-based equity securities or bonds.
The Sector Rotation strategy employs a “macro monitor” overlay to identify periods when the entire market is in a downward trend. The macro monitor looks at the health of the broad market and signals when a pullback is likely to turn into a bear market with an associated major aggregate drawdown. When the macro monitor indicates such a downward trend, the strategy moves to allocate 100% to defensive ETFs. Defensive ETFs used by the strategy will include Investment-Grade Bond ETFs, Gold ETFs, or U.S. Dollar ETFs.
The Fund is considered to be non-diversified, which means that it may invest more of its assets in the securities of a single issuer or a smaller number of issuers than if it were a diversified fund.
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MSMR - Performance

Return Ranking - Trailing

Period MSMR Return Category Return Low Category Return High Rank in Category (%)
YTD 8.4% -24.7% 108.5% 96.71%
1 Yr 22.1% -24.4% 116.0% N/A
3 Yr N/A* -7.8% 25.3% N/A
5 Yr N/A* -9.9% 22.9% N/A
10 Yr N/A* -5.4% 8.4% N/A

* Annualized

Return Ranking - Calendar

Period MSMR Return Category Return Low Category Return High Rank in Category (%)
2023 17.7% -39.0% 92.4% N/A
2022 -12.5% -6.1% 39.6% N/A
2021 N/A -21.9% 14.5% N/A
2020 N/A -15.9% 6.3% N/A
2019 N/A -12.6% 61.5% N/A

Total Return Ranking - Trailing

Period MSMR Return Category Return Low Category Return High Rank in Category (%)
YTD 8.4% -24.7% 108.5% 96.32%
1 Yr 22.1% -24.4% 116.0% N/A
3 Yr N/A* -7.8% 25.3% N/A
5 Yr N/A* -9.9% 22.9% N/A
10 Yr N/A* -5.4% 10.6% N/A

* Annualized

Total Return Ranking - Calendar

Period MSMR Return Category Return Low Category Return High Rank in Category (%)
2023 18.8% -39.0% 92.4% N/A
2022 -11.9% -6.1% 39.6% N/A
2021 N/A -21.9% 14.5% N/A
2020 N/A -11.5% 6.3% N/A
2019 N/A -12.6% 61.5% N/A

MSMR - Holdings

Concentration Analysis

MSMR Category Low Category High MSMR % Rank
Net Assets 45.5 M 658 K 207 B 93.02%
Number of Holdings 6 2 15351 99.36%
Net Assets in Top 10 43.4 M -6.38 M 48.5 B 82.39%
Weighting of Top 10 100.06% 8.4% 100.0% 3.11%

Top 10 Holdings

  1. Invesco QQQ Trust Series 1 40.50%
  2. iShares U.S. Aerospace Defense ETF 19.15%
  3. Technology Select Sector SPDR Fund 15.47%
  4. Financial Select Sector SPDR Fund 14.76%
  5. Vanguard Total Stock Market ETF 9.69%
  6. First American Treasury Obligations Fund 0.49%

Asset Allocation

Weighting Return Low Return High MSMR % Rank
Stocks
99.57% 0.00% 99.40% 99.61%
Cash
0.49% -16.75% 158.07% 0.39%
Preferred Stocks
0.00% 0.00% 27.92% 84.96%
Other
0.00% -6.69% 48.03% 5.78%
Convertible Bonds
0.00% 0.00% 23.84% 95.37%
Bonds
0.00% -82.31% 116.75% 90.23%

Stock Sector Breakdown

Weighting Return Low Return High MSMR % Rank
Utilities
0.00% 0.00% 99.55% 96.39%
Technology
0.00% 0.00% 48.68% 99.23%
Real Estate
0.00% 0.00% 65.01% 98.71%
Industrials
0.00% 0.00% 33.21% 99.23%
Healthcare
0.00% 0.00% 39.78% 98.71%
Financial Services
0.00% 0.00% 60.22% 98.97%
Energy
0.00% 0.00% 85.65% 97.55%
Communication Services
0.00% 0.00% 100.00% 0.13%
Consumer Defense
0.00% 0.00% 22.62% 98.97%
Consumer Cyclical
0.00% 0.00% 20.19% 99.36%
Basic Materials
0.00% 0.00% 33.35% 97.94%

Stock Geographic Breakdown

Weighting Return Low Return High MSMR % Rank
US
99.57% -1.65% 98.67% 99.49%
Non US
0.00% -0.44% 56.67% 98.46%

MSMR - Expenses

Operational Fees

MSMR Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.97% 0.06% 7.62% 46.20%
Management Fee 0.84% 0.00% 1.83% 91.38%
12b-1 Fee N/A 0.00% 1.00% 7.89%
Administrative Fee N/A 0.01% 0.83% N/A

Sales Fees

MSMR 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

MSMR Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.00% 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.

MSMR Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 343.00% N/A

MSMR - Distributions

Dividend Yield Analysis

MSMR Category Low Category High MSMR % Rank
Dividend Yield 0.17% 0.00% 11.31% 87.34%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

MSMR Category Low Category High MSMR % Rank
Net Income Ratio N/A -2.34% 19.41% N/A

Capital Gain Distribution Analysis

MSMR Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Semi-Annually Annually

Distributions History

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MSMR - Fund Manager Analysis

Managers

Bruce Fraser


Start Date

Tenure

Tenure Rank

Nov 16, 2021

0.54

0.5%

Bruce Fraser is the Managing Member of the McElhenny Sheffield Capital Management, LLC, which he founded in 2000. Mr. Fraser holds an MBA in Finance from Southern Methodist University, where he continues to be involved as a member of the Associate Board, mentoring MBA students. Mr. Fraser compiled extensive quantitative market research during his MBA studies that provides the basis for some of the sophisticated strategies deployed for the Sub-Adviser’s clients.

Grant Morris


Start Date

Tenure

Tenure Rank

Nov 16, 2021

0.54

0.5%

Grant Morris, CFA, CFP®, specializes in tactical investment strategies and technical analysis for McElhenny Sheffield Capital Management, LLC, which he joined in 2016. He has over 14 years of experience serving clients in the financial services industry. Mr. Morris was previously a consultant, advising and testifying on economic damages in commercial litigation as a financial expert. Prior to his work as a consultant, he was an engineer for a global telecom equipment manufacturer. Mr. Morris holds the CHARTERED FINANCIAL ANALYST® and CERTIFIED FINANCIAL PLANNER™ designations and obtained an MBA with a concentration in finance from Southern Methodist University’s Cox School of Business, where he participated in investing the school’s endowment fund. He also has a B.S. degree in Industrial Engineering from Texas A&M University.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.03 34.51 6.26 2.41