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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

$10.61

$60.3 M

9.67%

$1.03

0.50%

Vitals

YTD Return

0.6%

1 yr return

7.7%

3 Yr Avg Return

N/A

5 Yr Avg Return

N/A

Net Assets

$60.3 M

Holdings in Top 10

16.3%

52 WEEK LOW AND HIGH

$10.5
$8.80
$11.20

Expenses

OPERATING FEES

Expense Ratio 0.50%

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

$10.61

$60.3 M

9.67%

$1.03

0.50%

RIET - Profile

Distributions

  • YTD Total Return 0.6%
  • 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 9.7%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Hoya Capital High Dividend Yield ETF
  • Fund Family Name
    N/A
  • Inception Date
    Sep 21, 2021
  • Shares Outstanding
    N/A
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Dustin Lewellyn

Fund Description

The Fund uses a “passive management” – or indexing – investment approach to track the performance, before fees and expenses, of the Index. The Index was established on May 1, 2021 by Hoya Capital Index Innovations, LLC, the Fund’s index provider (the “Index Provider”), and is a rules-based index that is designed to provide diversified exposure to 100 U.S.-listed real estate-related securities that collectively provide income through high dividend yields.
Hoya Capital High Dividend Yield Index
Construction of the Index begins with the universe of U.S.-listed common and preferred stock of real estate investment trusts (“REITs”) and real estate operating companies, subject to certain investibility and liquidity requirements, including a minimum market capitalization of $100 million and an average daily value traded greater than or equal to $100,000 over the prior 30 days. The Index rules divide REITs in the Index universe into three equal-sized tiers based on market capitalization: Large-Cap REITs, Mid-Cap REITs, and Small-Cap REITs (each, a “Market Cap Tier”).
The Index rules then assign each company one of the following classifications based on the percentage of the company’s revenues derived from that particular real estate-related business segment (each, a “Property Sector”):
Property Sectors
Healthcare
Data Center
Storage
Home Financing
Industrial
Net Lease
Lodging
Commercial Financing
Infrastructure
Retail
Office    
Residential
Land/ Agriculture    
Specialty/Other
The Index then identifies the group of ten “Dividend Champions” by starting with the two largest companies by market capitalization in each Property Sector and selecting the one in each Property Sector with the highest dividend yield based on the company’s most recent ordinary dividend. From this group of 14 companies (one from each Property Sector), the two companies with the lowest dividend yield and the two companies with the highest debt ratio are set aside, leaving ten “Dividend Champions” that will be included in the Index.
After the Dividend Champions are selected, the Index sorts the common stock of the companies other than the Dividend Champions based on dividend yield and selects the highest yielding companies from each Market Cap Tier in the weight and quantity shown in the table below. The selections are subject to a maximum of six companies per Property Sector in each Market Cap Tier.
Also included in the Index are U.S.-listed preferred securities issued by REITs and real estate operating companies (“Preferreds”). The Index rules consider the 50 most actively-traded Preferreds, and the 30 Preferreds (of the 50) with the highest dividend yield are included in the Index.
The weight and quantity of companies allocated to each Index category, as of each Index reconstitution date, are as follows:
Hoya Capital High Dividend Yield Index
Index Weight
Number of Constituents
Weight per Constituent
Dividend Champions 15% 10 1.50%
Large-Cap REITs
15% 10 1.50%
Mid-Cap REITs
30% 25 1.20%
Small-Cap REITs
30% 25 1.20%
Preferreds
10% 30 0.33%
Hoya Capital High Dividend Yield Index
100% 100
The Index consists of a total of 100 companies and is reconstituted and rebalanced semi-annually in June and December.
The Index is expected to be primarily composed of companies that qualify as REITs under the Internal Revenue Code of 1986, as amended (the “Code”), but the Index may also include real estate operating companies that do not qualify as REITs.
The Fund’s Investment Strategy
Under normal circumstances, at least 80% of the Fund’s net assets, plus borrowings for investment purposes, will be invested in dividend-paying securities, which includes equity securities that have paid a dividend in the prior 12 calendar months.
The Fund will generally use a “replication” strategy to achieve its investment objective, meaning it 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 generally 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. The Index, and consequently the Fund, is expected to generally be concentrated in real estate-related industries.
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RIET - Performance

Return Ranking - Trailing

Period RIET Return Category Return Low Category Return High Rank in Category (%)
YTD 0.6% -49.2% 11.9% 93.71%
1 Yr 7.7% -47.4% 116.8% N/A
3 Yr N/A* -21.4% 30.0% N/A
5 Yr N/A* -14.5% 17.5% N/A
10 Yr N/A* -9.4% 11.0% N/A

* Annualized

Return Ranking - Calendar

Period RIET Return Category Return Low Category Return High Rank in Category (%)
2023 2.4% -51.3% 81.2% 95.77%
2022 -30.9% -21.3% 31.3% N/A
2021 N/A -14.7% 41.4% N/A
2020 N/A -26.4% 9.4% N/A
2019 N/A -10.9% 7.8% N/A

Total Return Ranking - Trailing

Period RIET Return Category Return Low Category Return High Rank in Category (%)
YTD 0.6% -49.2% 11.9% 94.41%
1 Yr 7.7% -47.4% 116.8% N/A
3 Yr N/A* -21.4% 30.0% N/A
5 Yr N/A* -14.5% 20.9% N/A
10 Yr N/A* -9.4% 13.9% N/A

* Annualized

Total Return Ranking - Calendar

Period RIET Return Category Return Low Category Return High Rank in Category (%)
2023 13.0% -51.3% 81.2% 95.77%
2022 -25.3% -21.3% 31.3% N/A
2021 N/A -14.7% 41.4% N/A
2020 N/A -26.4% 9.4% N/A
2019 N/A -10.7% 8.2% N/A

RIET - Holdings

Concentration Analysis

RIET Category Low Category High RIET % Rank
Net Assets 60.3 M 1.28 M 78.4 B 93.23%
Number of Holdings 101 20 642 16.55%
Net Assets in Top 10 8.77 M 7.44 K 35.2 B 95.61%
Weighting of Top 10 16.35% 15.9% 99.8% 99.65%

Top 10 Holdings

  1. Kilroy Realty Corp 1.79%
  2. Simon Property Group Inc 1.73%
  3. Boston Properties Inc 1.72%
  4. Alexandria Real Estate Equities Inc 1.71%
  5. SL Green Realty Corp 1.66%
  6. Extra Space Storage Inc 1.57%
  7. AGNC Investment Corp 1.55%
  8. Highwoods Properties Inc 1.55%
  9. Annaly Capital Management Inc 1.54%
  10. National Storage Affiliates Trust 1.54%

Asset Allocation

Weighting Return Low Return High RIET % Rank
Stocks
88.42% 0.01% 106.94% 83.45%
Preferred Stocks
10.50% -0.12% 33.96% 8.11%
Cash
1.08% -98.06% 25.84% 73.65%
Other
0.00% -1.70% 94.17% 27.03%
Convertible Bonds
0.00% 0.00% 10.95% 10.14%
Bonds
0.00% -3.17% 97.45% 18.24%

Stock Sector Breakdown

Weighting Return Low Return High RIET % Rank
Utilities
0.00% 0.00% 9.09% 5.69%
Technology
0.00% 0.00% 12.02% 24.91%
Real Estate
0.00% 34.46% 100.00% 1.42%
Industrials
0.00% 0.00% 7.39% 11.74%
Healthcare
0.00% 0.00% 0.53% 6.76%
Financial Services
0.00% 0.00% 37.05% 17.44%
Energy
0.00% 0.00% 33.11% 6.41%
Communication Services
0.00% 0.00% 11.61% 15.30%
Consumer Defense
0.00% 0.00% 1.53% 4.27%
Consumer Cyclical
0.00% 0.00% 45.29% 43.06%
Basic Materials
0.00% 0.00% 13.69% 9.61%

Stock Geographic Breakdown

Weighting Return Low Return High RIET % Rank
US
88.42% 0.01% 101.17% 79.39%
Non US
0.00% 0.00% 44.90% 48.31%

RIET - Expenses

Operational Fees

RIET Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.50% 0.07% 4.72% 93.90%
Management Fee 0.50% 0.00% 1.50% 15.93%
12b-1 Fee N/A 0.00% 1.00% 0.70%
Administrative Fee N/A 0.01% 0.45% N/A

Sales Fees

RIET 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

RIET 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.

RIET Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.11% 380.00% 7.87%

RIET - Distributions

Dividend Yield Analysis

RIET Category Low Category High RIET % Rank
Dividend Yield 9.67% 0.00% 20.32% 3.70%

Dividend Distribution Analysis

RIET Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Quarterly Monthly Monthly

Net Income Ratio Analysis

RIET Category Low Category High RIET % Rank
Net Income Ratio N/A -1.14% 6.05% 4.88%

Capital Gain Distribution Analysis

RIET Category Low Category High Capital Mode
Capital Gain Distribution Frequency

Distributions History

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RIET - Fund Manager Analysis

Managers

Dustin Lewellyn


Start Date

Tenure

Tenure Rank

Sep 21, 2021

0.69

0.7%

Dustin Lewellyn, CFA. Mr. Lewellyn has extensive background in institutional investment process with a specific focus on exchange-traded funds (“ETFs”). Mr. Lewellyn was a portfolio manager at BGI (now part of Blackrock), and he managed a number of international equity funds. Dustin also was head of ETF product management and product development at Northern Trust where he oversaw the build out and management of all areas of a new ETF business, including primary responsibility for the portfolio management process surrounding the ETFs. Mr. Lewellyn also built and ran a new ETF business for Charles Schwab, including having primary responsibility for the technology and investment process to support portfolio management for the ETFs. Mr. Lewellyn started a consulting business with a focus on ETFs and helped numerous new ETF sponsors, as well as service providers, understand the resource requirements to participate in the industry utilizing current best practices. Mr. Lewellyn holds a B.A. from University of Iowa and is a CFA Charterholder. He also holds security licenses 7, 63, 66 and 24.

Ernesto Tong


Start Date

Tenure

Tenure Rank

Sep 21, 2021

0.69

0.7%

Mr. Tong has been a managing director with Penserra since 2015. Prior to joining Penserra, Mr. Tong spent seven years as a vice president at Blackrock, where he was a portfolio manager for a number of the iShares ETFs, and prior to that, he spent two years in the firm’s index research group.

Anand Desai


Start Date

Tenure

Tenure Rank

Sep 21, 2021

0.69

0.7%

Anand Desai. Mr. Desai has been an Associate with Penserra since 2015. Prior to joining the Penserra Capital Management, LLC, Mr. Desai was a portfolio fund accountant at State Street for five years.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.01 28.42 7.92 2.23