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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

Cabana Target Beta ETF

TDSB | Active ETF

$22.23

$122 M

1.20%

$0.27

0.94%

Vitals

YTD Return

3.9%

1 yr return

8.8%

3 Yr Avg Return

-2.3%

5 Yr Avg Return

N/A

Net Assets

$122 M

Holdings in Top 10

108.5%

52 WEEK LOW AND HIGH

$22.2
$20.65
$22.23

Expenses

OPERATING FEES

Expense Ratio 0.94%

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

Cabana Target Beta ETF

TDSB | Active ETF

$22.23

$122 M

1.20%

$0.27

0.94%

TDSB - Profile

Distributions

  • YTD Total Return 3.9%
  • 3 Yr Annualized Total Return -2.3%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 1.69%
DIVIDENDS
  • Dividend Yield 1.2%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    Cabana Target Beta ETF
  • Fund Family Name
    Cabana
  • Inception Date
    Sep 17, 2020
  • Shares Outstanding
    9649419
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Andrew Serowik

Fund Description

The Fund is an actively managed exchange-traded fund (“ETF”) that seeks to achieve its investment objective with limited volatility and reduced correlation to the overall performance of the equity markets by allocating its assets among the following five major asset classes – equities, fixed income securities, real estate, currencies, and commodities. The Fund operates in a manner that is commonly referred to as a “fund of funds,” meaning that it obtains investment exposure to an asset class primarily by investing in one or more ETFs designed to track the performance of the asset class. The ETFs in which the Fund invests may invest in a broad range of securities, including equity securities of any market capitalization of US and foreign (including emerging markets) issuers and fixed income securities of any duration, maturity, and quality (including high yield or non-investment grade securities, commonly referred to as “junk bonds”). In addition, the Fund may invest directly in securities and other instruments that provide the desired exposure to the asset class.

Cabana Asset Management (the “Sub-Adviser”) selects investments for the Fund pursuant to an asset allocation strategy designed to manage portfolio volatility and reduce exposure to down markets. The Sub-Adviser utilizes its Cyclical Asset Reallocation Algorithm (“CARA”), a proprietary algorithm developed by the Sub-Adviser that monitors market conditions to identify assets that are particularly attractive at a given time in the business cycle. CARA incorporates various fundamental economic and technical price data, including public information concerning the yield curve (i.e., the spread between short- and long-term interest rates), earnings of a broad spectrum of U.S. companies, and equity price trends. CARA also uses this information to identify significant market deteriorations and provide corresponding signals, when appropriate, to move to a more conservative allocation (e.g., short term treasuries). The Sub-Adviser, through CARA, monitors the Fund’s investments daily and allocates or reallocates assets among less correlated and inversely-correlated asset classes in an effort to reduce exposure to potential market declines.

The Fund’s portfolio construction process generally seeks to maintain an aggregate one-year rolling target beta relative to the S&P 500 Equal Weight Index (the “Reference Index”) of 0.35, although the beta exposure is not a fixed amount and will vary based on CARA’s output in response to market conditions. The Sub-Adviser believes a target beta of approximately 0.35 relative to the Reference Index will provide the potential for long-term capital appreciation while maintaining lower volatility than the Reference Index. Beta is intended to measure the volatility of an asset class relative to the applicable overall market. For example, an asset class that has a beta of 1 has the same volatility as the applicable overall market, an asset class that has a beta less than 1 has less volatility than the applicable overall market, and an asset class that has a beta greater than 1 has more volatility than the applicable overall market. The Sub-Adviser strives to emphasize stability throughout the economic cycle and protection of capital, as well as accumulation of bond interest and equity dividends. Although the Sub-Adviser anticipates that it will purchase or sell securities based on the signals provided by CARA, the Sub-Adviser maintains full decision-making power and may override CARA if it determines that a breakdown or systemic change has occurred in the methods for which capital is deployed within the worldwide economic system or if it believes that CARA does not signal appropriate changes to risk assets as the economic cycle evolves. The Sub-Adviser expects the Fund, during normal market conditions, to be fully invested at all times.

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TDSB - Performance

Return Ranking - Trailing

Period TDSB Return Category Return Low Category Return High Rank in Category (%)
YTD 3.9% -1.5% 34.3% 86.70%
1 Yr 8.8% -5.9% 41.5% 73.27%
3 Yr -2.3%* -19.8% 12.3% 87.96%
5 Yr N/A* -11.8% 23.3% 32.29%
10 Yr N/A* -4.7% 10.4% 45.03%

* Annualized

Return Ranking - Calendar

Period TDSB Return Category Return Low Category Return High Rank in Category (%)
2023 1.8% -18.9% 60.2% 82.95%
2022 -18.3% -48.5% 0.1% 65.74%
2021 6.6% -19.0% 48.3% 30.23%
2020 N/A -16.5% 52.8% N/A
2019 N/A -8.5% 27.3% N/A

Total Return Ranking - Trailing

Period TDSB Return Category Return Low Category Return High Rank in Category (%)
YTD 3.9% -1.5% 34.3% 86.70%
1 Yr 8.8% -5.9% 41.5% 73.27%
3 Yr -2.3%* -19.8% 12.3% 87.96%
5 Yr N/A* -11.8% 23.3% N/A
10 Yr N/A* -4.7% 10.4% N/A

* Annualized

Total Return Ranking - Calendar

Period TDSB Return Category Return Low Category Return High Rank in Category (%)
2023 4.7% -11.7% 61.8% 81.57%
2022 -16.8% -48.5% 4.6% 76.39%
2021 8.4% -14.2% 48.3% 65.58%
2020 N/A -11.7% 77.4% N/A
2019 N/A -3.9% 28.4% N/A

TDSB - Holdings

Concentration Analysis

TDSB Category Low Category High TDSB % Rank
Net Assets 122 M 1.98 M 13.3 B 59.63%
Number of Holdings 12 3 2550 86.70%
Net Assets in Top 10 123 M 1.37 M 10.3 B 49.08%
Weighting of Top 10 108.55% 21.1% 113.2% 0.92%

Top 10 Holdings

  1. Energy Select Sector SPDR Fund 16.01%
  2. Consumer Staples Select Sector SPDR Fund 15.13%
  3. SPDR Nuveen Bloomberg High Yield Municipal Bond ETF 14.85%
  4. Vanguard Long-Term Treasury ETF 14.14%
  5. DREY INST PREF GOV MM-M 13.83%
  6. Invesco DB US Dollar Index Bullish Fund 10.49%
  7. Vanguard Long-Term Bond ETF 9.50%
  8. JPMorgan Equity Premium Income ETF 4.92%
  9. iShares 7-10 Year Treasury Bond ETF 4.86%
  10. Invesco Nasdaq 100 ETF 4.83%

Asset Allocation

Weighting Return Low Return High TDSB % Rank
Stocks
99.54% 0.00% 139.66% 10.55%
Cash
14.33% -33.22% 88.48% 25.23%
Convertible Bonds
0.79% 0.00% 8.92% 23.39%
Preferred Stocks
0.00% -0.07% 5.36% 36.70%
Other
0.00% -29.71% 137.85% 50.00%
Bonds
0.00% 0.00% 106.59% 54.13%

Stock Sector Breakdown

Weighting Return Low Return High TDSB % Rank
Utilities
0.00% 0.00% 91.12% 1.22%
Technology
0.00% 0.00% 85.77% 64.49%
Real Estate
0.00% 0.00% 99.45% 89.39%
Industrials
0.00% 0.00% 23.85% 94.69%
Healthcare
0.00% 0.00% 38.63% 1.63%
Financial Services
0.00% 0.00% 98.22% 93.88%
Energy
0.00% 0.00% 60.89% 87.35%
Communication Services
0.00% 0.00% 21.61% 64.08%
Consumer Defense
0.00% 0.00% 37.51% 88.16%
Consumer Cyclical
0.00% 0.00% 25.83% 82.45%
Basic Materials
0.00% 0.00% 56.73% 93.06%

Stock Geographic Breakdown

Weighting Return Low Return High TDSB % Rank
US
99.54% 0.00% 139.66% 10.55%
Non US
0.00% -1.94% 38.99% 42.20%

TDSB - Expenses

Operational Fees

TDSB Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.94% 0.49% 10.24% 86.70%
Management Fee 0.80% 0.00% 1.50% 44.50%
12b-1 Fee 0.00% 0.00% 1.00% 8.97%
Administrative Fee N/A 0.05% 0.70% N/A

Sales Fees

TDSB Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.50% 5.75% N/A
Deferred Load N/A 1.00% 1.00% N/A

Trading Fees

TDSB 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.

TDSB Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 1.75% 441.00% N/A

TDSB - Distributions

Dividend Yield Analysis

TDSB Category Low Category High TDSB % Rank
Dividend Yield 1.20% 0.00% 24.95% 10.55%

Dividend Distribution Analysis

TDSB Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Annual Monthly Monthly

Net Income Ratio Analysis

TDSB Category Low Category High TDSB % Rank
Net Income Ratio 1.69% -2.01% 13.72% 20.64%

Capital Gain Distribution Analysis

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

Distributions History

View More +

TDSB - Fund Manager Analysis

Managers

Andrew Serowik


Start Date

Tenure

Tenure Rank

Sep 16, 2020

1.7

1.7%

Mr. Serowik joined Exchange Traded Concepts, LLC from Goldman Sachs in May 2018. He began his career at Spear, Leeds & Kellogg, continuing with Goldman after its acquisition of SLK in September 2000. During his career of more than 18 years at the combined companies, he held various roles, including managing the global Quant ETF Strats team and One Delta ETF Strats. He designed and developed systems for portfolio risk calculation, algorithmic ETF trading, and execution monitoring, with experience across all asset classes. He graduated from the University of Michigan with a Bachelor of Business Administration degree in Finance.

Chadd Mason


Start Date

Tenure

Tenure Rank

Sep 16, 2020

1.7

1.7%

G. Chadd Mason is the founder and CEO of Cabana Asset Management. Mr. Mason is a licensed attorney, admitted to practice in the state of Arkansas, and the U.S. Court of Appeals for the Eighth Circuit. He has been the Principal and Owner of the Mason Law Firm since 1993. He was appointed by the Governor of Arkansas to serve the Fourth Judicial Court as Circuit Trial Judge from 2011 through 2012. Since 2007, Mr. Mason has been a registered investment advisor representative of a private equity fund and investment management firm. That business exists today as Cabana Asset Management, which is registered in the State of Arkansas. He has managed his private investment portfolio since 2002 and is FINRA Series 65 examination qualified. Mr. Mason graduated from the University of Arkansas in 1989 with a B.A in Psychology, and he went on to earn a Juris Doctor degree in 1992 from the University of Denver. He is a past member of the Public Investors Bar Association and has successfully prosecuted claims on behalf of investors with FINRA and the American Arbitration Association. Mr. Mason lives in Fayetteville, Arkansas with his family where he has served as a board member for The New School and coaches Little League. He is also an accomplished tennis player.

Gabriel Tan


Start Date

Tenure

Tenure Rank

Aug 19, 2021

0.78

0.8%

Mr. Tan joined Exchange Traded Concepts, LLC in May 2019 as an Associate Portfolio Manager and was promoted to Portfolio Manager in December 2020. He began his career at UBS and BBR Partners where he worked as a financial planning analyst and a portfolio strategist for over four years. During his time there, he developed comprehensive wealth management solutions focused on portfolio optimization, trust and estate planning, and tax planning.

Todd Alberico


Start Date

Tenure

Tenure Rank

Aug 19, 2021

0.78

0.8%

Mr. Alberico joined Exchange Traded Concepts, LLC in November 2020, having spent the past 14 years in ETF trading at Goldman Sachs, Cantor Fitzgerald, and, most recently, Virtu Financial. He spent most of that time focused on the Trading and Portfolio Risk Management of ETFs exposed to international and domestic equity. He has worked on several different strategies including lead market-making and electronic trading, to customer facing institutional business developing models for block trading as well as transitional trades. Mr. Alberico graduated from St. John’s University in NY with a Bachelor of Science degree in Finance.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.07 33.83 6.67 13.0