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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

$29.70

$56.3 M

4.73%

$1.41

1.00%

Vitals

YTD Return

5.4%

1 yr return

18.1%

3 Yr Avg Return

7.9%

5 Yr Avg Return

8.8%

Net Assets

$56.3 M

Holdings in Top 10

64.4%

52 WEEK LOW AND HIGH

$29.5
$23.84
$30.48

Expenses

OPERATING FEES

Expense Ratio 1.00%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 191.00%

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

$29.70

$56.3 M

4.73%

$1.41

1.00%

WBIY - Profile

Distributions

  • YTD Total Return 5.4%
  • 3 Yr Annualized Total Return 7.9%
  • 5 Yr Annualized Total Return 8.8%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 4.73%
DIVIDENDS
  • Dividend Yield 4.7%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    WBI Power Factor High Dividend ETF
  • Fund Family Name
    Absolute Shares Trust
  • Inception Date
    Dec 19, 2016
  • Shares Outstanding
    2350002
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Donald Schreiber

Fund Description

The Fund is an exchange-traded fund (“ETF”). The Fund seeks to achieve its investment objective by attempting to track the investment results of the Underlying Index, which is maintained and calculated by Solactive AG (the “Index Provider”). The Underlying Index is designed to select securities from the Solactive US Broad Market Index (the “Parent Index”) that exhibit certain yield and fundamental value characteristics. The Parent Index includes large, mid- and small-cap securities listed in the U.S., including approximately the 3,000 largest U.S. companies that are selected and weighted according to free float market capitalization. The Parent Index is adjusted semi-annually in May and November. Issuers undergoing initial public offerings may be added to the Parent Index on a quarterly basis, consistent with the Parent Index’s selection methodology.
In particular, the Underlying Index is designed to select equity securities from the Parent Index with an above-average forecasted dividend yield, scored on the basis of three fundamental value characteristics (the “Power Factors®”): Trailing 12-month diluted earnings from continuing operations to price ratio (E/P); Trailing 12-month free cash flow to price ratio (FCF/P); and Trailing 12-month sales to price ratio (S/P).
The Underlying Index is constructed by scoring each ordinary dividend paying, common stock constituent from the Parent Index both directly and relative to industry peers using the three Power Factors® and ranking those securities in descending order according to their dividend indicated yield. The 50 companies with the largest dividend indicated yield, subject to certain asset diversification and liquidity requirements, are chosen as Underlying Index components. Dividend indicated yield is the total prior year dividend payments of a security expressed as a percentage of the current price adjusted for market expectations as to next year dividends indicated by related option premiums and excluding any off-cycle dividend payments. Once a month (five business days before the last trading day of the month) the Underlying Index components are screened for dividend cuts or an overall negative outlook concerning the companies’ dividend policy. If any changes need to be implemented, the Underlying Index will be adjusted at the close of the last trading day of the respective month. The composition of the Underlying Index is adjusted quarterly. The Underlying Index is constructed to limit turnover and excessive exposure to particular sectors, component weights, or other investment style factors, such as recently announced or implemented dividend cuts. The Underlying Index limits component turnover by permitting the retention of securities that were previously among the top 50 highest scoring securities, until they are no longer among the 75 highest scoring securities. The Underlying Index restricts exposure to a particular sector to 20% of the Underlying Index at each quarterly adjustment. The Underlying Index only includes long positions (i.e., short positions are impermissible). All component securities of the Underlying Index are dividend-paying securities whose yields are above the median for dividend-paying securities in the Parent Index.
The Underlying Index is maintained and calculated by the Index Provider, which is an organization that is independent of the Fund, Millington Securities, LLC, the advisor for the Fund (“Advisor”) and WBI Investments, LLC, the sub-advisor (“Sub-Advisor”) to the Fund, and an affiliate of the Advisor. The Index Provider determines the relative weightings of the securities in the Underlying Index and publishes information regarding the market value of the Underlying Index.
Under normal circumstances the Fund will invest at least 80% of its total assets in the securities of the Underlying Index. The Fund’s 80% investment policy is non-fundamental and requires 60 days’ prior written notice to shareholders before it can be changed.
The Sub-Advisor uses a “passive” or indexing approach to try to achieve the Fund’s investment objective. Unlike many investment companies, the Fund does not try to outperform the Underlying Index and does not seek temporary defensive positions when markets decline or appear overvalued.
The Fund generally will use a replication strategy. A replication strategy is an indexing strategy that involves investing in the securities of the Underlying Index in approximately the same proportions as in the Underlying Index. However, the Fund may utilize a representative sampling strategy with respect to the Underlying Index when a replication strategy might be detrimental or disadvantageous to shareholders, such as when there are practical difficulties or substantial costs involved in compiling a portfolio of equity securities to replicate the Underlying Index, in instances in which a security in the Underlying Index becomes temporarily illiquid, unavailable or less liquid, or as a result of legal restrictions or limitations (such as diversification requirements) that apply to the Fund but not the Underlying Index.
The Advisor expects that, over time, the correlation between the Fund’s performance and that of the Underlying Index, before fees and expenses, will exceed 95%. A correlation percentage of 100% would indicate perfect correlation. If the Fund uses a replication strategy, it can be expected to have greater correlation to the Underlying Index than if it uses a representative sampling strategy.
The Fund attempts to concentrate its investments (i.e., holds 25% or more of its total assets) in a particular industry to approximately the same extent that the Underlying Index is concentrated.
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WBIY - Performance

Return Ranking - Trailing

Period WBIY Return Category Return Low Category Return High Rank in Category (%)
YTD 5.4% -1.9% 15.7% 66.49%
1 Yr 18.1% -11.1% 28.2% 13.08%
3 Yr 7.9%* -3.4% 15.0% 14.92%
5 Yr 8.8%* -0.7% 16.5% 52.71%
10 Yr N/A* 0.7% 11.7% 63.43%

* Annualized

Return Ranking - Calendar

Period WBIY Return Category Return Low Category Return High Rank in Category (%)
2023 7.9% -11.3% 33.3% 57.65%
2022 -4.8% -41.6% 2.3% 3.31%
2021 23.3% -41.5% 44.9% 35.73%
2020 -14.0% -29.0% 22.1% 98.87%
2019 19.0% -8.1% 31.2% 72.97%

Total Return Ranking - Trailing

Period WBIY Return Category Return Low Category Return High Rank in Category (%)
YTD 5.4% -1.9% 15.7% 66.49%
1 Yr 18.1% -11.1% 28.2% 13.08%
3 Yr 7.9%* -3.4% 15.0% 14.92%
5 Yr 8.8%* -0.7% 16.5% 52.71%
10 Yr N/A* 0.7% 11.7% N/A

* Annualized

Total Return Ranking - Calendar

Period WBIY Return Category Return Low Category Return High Rank in Category (%)
2023 13.8% -3.7% 36.5% 40.71%
2022 -0.5% -35.0% 2.4% 4.42%
2021 28.3% 6.2% 48.3% 55.40%
2020 -8.6% -22.9% 23.2% 99.15%
2019 24.9% -3.0% 35.7% 68.31%

WBIY - Holdings

Concentration Analysis

WBIY Category Low Category High WBIY % Rank
Net Assets 56.3 M 991 K 28 B 90.19%
Number of Holdings 52 8 2423 81.20%
Net Assets in Top 10 42.2 M 221 K 5.55 B 74.93%
Weighting of Top 10 64.44% 5.1% 100.2% 0.82%

Top 10 Holdings

  1. Mount Vernon Liquid Assets Portfolio, LLC 17.35%
  2. Altria Group Inc 6.38%
  3. Verizon Communications Inc 6.37%
  4. Kinder Morgan Inc 6.26%
  5. ONEOK Inc 4.85%
  6. Ford Motor Co 4.84%
  7. Dow Inc 4.75%
  8. LyondellBasell Industries NV 4.73%
  9. Best Buy Co Inc 4.62%
  10. International Paper Co 4.29%

Asset Allocation

Weighting Return Low Return High WBIY % Rank
Stocks
98.34% 52.93% 102.66% 52.86%
Cash
19.55% 0.00% 43.04% 1.09%
Preferred Stocks
0.00% 0.00% 1.48% 32.15%
Other
0.00% -0.04% 7.03% 46.59%
Convertible Bonds
0.00% 0.00% 0.02% 24.11%
Bonds
0.00% 0.00% 27.39% 25.89%

Stock Sector Breakdown

Weighting Return Low Return High WBIY % Rank
Financial Services
19.42% 0.00% 60.11% 32.05%
Consumer Cyclical
15.58% 0.00% 29.62% 10.68%
Energy
13.21% 0.00% 29.17% 8.77%
Communication Services
11.10% 0.00% 19.80% 6.85%
Healthcare
10.00% 0.00% 32.47% 41.10%
Basic Materials
9.87% 0.00% 23.88% 4.66%
Consumer Defense
9.05% 0.00% 33.79% 13.70%
Technology
5.60% 0.00% 30.07% 88.49%
Industrials
5.50% 0.00% 29.02% 96.71%
Utilities
0.69% 0.00% 24.69% 88.49%
Real Estate
0.00% 0.00% 40.74% 92.88%

Stock Geographic Breakdown

Weighting Return Low Return High WBIY % Rank
US
98.34% 52.93% 102.66% 39.24%
Non US
0.00% 0.00% 34.31% 43.05%

WBIY - Expenses

Operational Fees

WBIY Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.00% 0.01% 16.92% 48.77%
Management Fee 0.55% 0.00% 1.20% 16.89%
12b-1 Fee 0.00% 0.00% 1.00% 5.13%
Administrative Fee N/A 0.01% 0.40% N/A

Sales Fees

WBIY 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% 4.00% N/A

Trading Fees

WBIY 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.

WBIY Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 191.00% 0.00% 227.00% 99.40%

WBIY - Distributions

Dividend Yield Analysis

WBIY Category Low Category High WBIY % Rank
Dividend Yield 4.73% 0.00% 22.79% 25.68%

Dividend Distribution Analysis

WBIY Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Annual Quarterly Annual

Net Income Ratio Analysis

WBIY Category Low Category High WBIY % Rank
Net Income Ratio 4.73% -1.84% 4.73% 0.27%

Capital Gain Distribution Analysis

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

Distributions History

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WBIY - Fund Manager Analysis

Managers

Donald Schreiber


Start Date

Tenure

Tenure Rank

Dec 19, 2016

5.45

5.5%

Mr. Don Schreiber, Jr. has led WBI since founding the firm in 1984. Mr. Schreiber has focused company resources on developing WBI’s proprietary time-tested investment approach, seeking to provide wealth-building investment strategies with low volatility, low correlation, and an optimal blend of bear market capital preservation and bull market return. Mr. Schreiber continues to push the envelope of investing across the firm’s separately managed accounts and exchange-traded funds – as shown in the evolution of WBI’s SMA product into a tactical and more tax-efficient SMA stucture (the Tax-Smart SMA®). Additionally, upon WBI’s 30-year anniversary, the company reached a historic milestone with the launch of 10 actively managed exchange-traded funds and setting an industry record with $1 billion in assets on the first trading day. Considered an expert in his field, Mr. Schreiber is often called upon by the press to provide his perspective on investments, markets, economics, and financial planning. Mr. Schreiber makes recurring appearances on CNBC and Fox Business, and his views are also frequently published in print. Mr. Schreiber co-hosts a successful podcast series, Bull | Bear Radio. In addition, he is a Top Contributor on Financial Advisor IQ’s ThinkTank. Mr. Schreiber is co-author of “All About Dividend Investing”, published by McGraw-Hill in 2011 and the author of “Building a World Class Financial Services Business: How to Transform Your Sales Practice into a Business Worth Millions”, released by Dearborn Publishing in 2001. Mr. Schreiber earned a Bachelor of Science in Business Finance from Susquehanna University and is a Certified Financial Planner (CFP®). Mr. Schreiber is Chief Executive Officer of The Hartshorne Group as well as Chief Executive Officer of Millington Securities.

Steven Van Solkema


Start Date

Tenure

Tenure Rank

Mar 01, 2019

3.25

3.3%

Effective March 1, 2019, Mr. Van Solkema assumed the role of Co-Chief Investment Officer and Co-Portfolio Manager of WBI Investments, Inc. He has over twenty years of portfolio management, trading, quantitative modeling, risk management, operations and compliance experience in equity and fixed income capital markets. Prior to this new position, Mr. Van Solkema spent five years as the Chief Operating Officer of Millington Securities, an affiliate of WBI Investments, Inc. Mr. Van Solkema also previously served as Chief Compliance Officer of Millington. At Millington Securities, Mr. Van Solkema and his team focused on providing high-touch institutional trading services and exchange-traded fund advisory services. Before joining Millington Securities in April of 2014, Mr. Van Solkema was a Portfolio Manager and Managing Director at Ally Financial. In that role, he directed Agency MBS and interest rate derivative trading, pipeline risk management, mortgage lending, origination, securitization, and rate sheet pricing on the firm’s capital markets desk. He supervised a team of traders and consistently improved risk management reporting used by the firm’s CIO. Mr. Van Solkema also served as Chief Operating Officer of Ally Securities, the firm’s broker-dealer, where he supervised institutional sales and trading teams, operations, compliance and technology. He was also responsible for strategic initiatives, quantitative credit modeling, product development, balance sheet management and oversight of treasury operations. Prior to Ally Financial, Mr. Van Solkema was a Portfolio Manager and Managing Director at Bear Stearns. He focused on Non-Agency RMBS, CDO, CLO, equity and index derivative securities, including quantitative modeling, trading and valuation of $38 billion in gross assets under management. He developed numerous analytical models and implemented profitable trade ideas in structured credit markets with a focus on risk management, relative value analysis and asset correlation. He also supervised hedge fund trading, valuation, accounting, and technology teams. Mr. Van Solkema began his career at Goldman Sachs as a Senior Risk Analyst and Project Manager where he analyzed performance attribution, risk management, asset allocation, valuation, and tax harvesting strategies for high-net-worth client portfolios comprised of domestic and international equities, fixed income, foreign currencies and derivatives. He was also responsible for calculating VAR, risk-adjusted portfolio performance, internal and external composite variance, and customized benchmarks. Mr. Van Solkema earned his MBA in Finance from New York University’s Stern School of Business and his BBA in Finance from Baruch College. Mr. Van Solkema is a Chartered Financial Analyst (CFA®) Charterholder and is Series 65 licensed (and was previously a FINRA Series 4, 7, 24, 27, 57, 63, and 99 registered representative).

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 35.59 8.2 10.92