LeaderShares® Activist Leaders® ETF
Name
As of 03/28/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
5.2%
1 yr return
22.4%
3 Yr Avg Return
2.7%
5 Yr Avg Return
N/A
Net Assets
$97.8 M
Holdings in Top 10
33.3%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 0.75%
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 03/28/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
ACTV - Profile
Distributions
- YTD Total Return 5.2%
- 3 Yr Annualized Total Return 2.7%
- 5 Yr Annualized Total Return N/A
- Capital Gain Distribution Frequency N/A
- Net Income Ratio N/A
- Dividend Yield 1.1%
- Dividend Distribution Frequency None
Fund Details
-
Legal NameLeaderShares® Activist Leaders® ETF
-
Fund Family NameN/A
-
Inception DateOct 26, 2020
-
Shares OutstandingN/A
-
Share ClassN/A
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerRichard Duff
Fund Description
The Fund is an actively managed exchange-traded fund (ETF) that employs an investment approach that focuses on equity securities that are the target of shareholder activism. These equity securities are identified using a proprietary quantitative methodology built on the foundation of tracking legally mandated filings known as 13D filings that are submitted with the Securities and Exchange Commission (SEC). Rules adopted under the Securities Exchange Act of 1934 require a shareholder that acquires, with an activist intent, more than 5% of a companys shares to file a form with the SEC known as a Schedule 13D that discloses the investors identity and the investors purpose in acquiring those shares.
The Funds Adviser identifies Activist Leader® investors utilizing a proprietary methodology based upon qualitative elements, including research into the effectiveness of activist investors achievement of stated objectives and creation of positive shareholder returns in positions that were the subject of a 13D filing by them. Because the Advisers identification of Activist Leaders® investors is based on ongoing research, the list of Activist Leaders® investors may change over time.
The Fund will be invested in equity securities of companies listed on a U.S. exchange with market capitalizations of at least $1 billion at the time of initial purchase. The Fund may focus its investments in a particular sector, industry or group of industries.
The Fund may engage in active and frequent trading.
ACTV - Performance
Return Ranking - Trailing
Period | ACTV Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 5.2% | -28.3% | 20.0% | 93.75% |
1 Yr | 22.4% | -49.3% | 235.3% | 78.57% |
3 Yr | 2.7%* | -17.5% | 116.2% | N/A |
5 Yr | N/A* | -24.3% | 45.7% | N/A |
10 Yr | N/A* | -20.9% | 25.2% | N/A |
* Annualized
Return Ranking - Calendar
Period | ACTV Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 13.9% | -57.8% | 212.9% | 5.07% |
2022 | -19.6% | -38.4% | 60.6% | N/A |
2021 | 16.2% | -47.8% | 66.8% | N/A |
2020 | N/A | -27.9% | 16.6% | N/A |
2019 | N/A | -12.3% | 24.5% | N/A |
Total Return Ranking - Trailing
Period | ACTV Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 5.2% | -28.3% | 20.0% | 96.67% |
1 Yr | 22.4% | -49.3% | 235.3% | 78.87% |
3 Yr | 2.7%* | -17.5% | 116.2% | N/A |
5 Yr | N/A* | -18.7% | 45.7% | N/A |
10 Yr | N/A* | -9.8% | 25.2% | N/A |
* Annualized
Total Return Ranking - Calendar
Period | ACTV Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 15.2% | -57.8% | 212.9% | 5.07% |
2022 | -19.3% | -38.4% | 60.6% | N/A |
2021 | 25.3% | -47.8% | 66.8% | N/A |
2020 | N/A | -25.6% | 16.6% | N/A |
2019 | N/A | -12.3% | 24.5% | N/A |
ACTV - Holdings
Concentration Analysis
ACTV | Category Low | Category High | ACTV % Rank | |
---|---|---|---|---|
Net Assets | 97.8 M | 1.55 M | 47.3 B | 80.33% |
Number of Holdings | 51 | 10 | 1551 | 97.92% |
Net Assets in Top 10 | 29.1 M | 812 K | 2.82 B | 68.75% |
Weighting of Top 10 | 33.26% | 4.7% | 95.7% | 10.11% |
Top 10 Holdings
- BAUSCH HEALTH CO 3.39%
- FORTREA HOLDINGS 3.35%
- INVESCO LTD 3.32%
- JANUS HENDERSON 3.32%
- UPBOUND GROUP IN 3.32%
- SOUTHWEST GAS HO 3.32%
- GREEN DOT CORP-A 3.31%
- INNOVIVA INC 3.31%
- GODADDY INC-A 3.31%
- MDU RES GROUP 3.30%
Asset Allocation
Weighting | Return Low | Return High | ACTV % Rank | |
---|---|---|---|---|
Stocks | 99.00% | 14.38% | 100.16% | 35.83% |
Cash | 1.00% | -52.43% | 47.85% | 63.96% |
Preferred Stocks | 0.00% | 0.00% | 5.63% | 94.38% |
Other | 0.00% | -0.88% | 5.25% | 92.08% |
Convertible Bonds | 0.00% | 0.00% | 2.63% | 94.38% |
Bonds | 0.00% | 0.00% | 51.67% | 94.38% |
Stock Sector Breakdown
Weighting | Return Low | Return High | ACTV % Rank | |
---|---|---|---|---|
Utilities | 0.00% | 0.00% | 14.62% | 98.95% |
Technology | 0.00% | 0.00% | 34.03% | 0.84% |
Real Estate | 0.00% | 0.00% | 44.41% | 79.41% |
Industrials | 0.00% | 0.65% | 48.61% | 80.88% |
Healthcare | 0.00% | 0.00% | 25.76% | 1.89% |
Financial Services | 0.00% | 0.00% | 44.90% | 88.24% |
Energy | 0.00% | 0.00% | 29.42% | 100.00% |
Communication Services | 0.00% | 0.00% | 24.90% | 99.79% |
Consumer Defense | 0.00% | 0.00% | 13.67% | 10.29% |
Consumer Cyclical | 0.00% | 0.00% | 51.62% | 30.46% |
Basic Materials | 0.00% | 0.00% | 67.30% | 16.39% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | ACTV % Rank | |
---|---|---|---|---|
US | 99.00% | 11.42% | 100.16% | 83.33% |
Non US | 0.00% | 0.00% | 78.53% | 7.92% |
ACTV - Expenses
Operational Fees
ACTV Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.75% | 0.05% | 2.66% | 87.58% |
Management Fee | 0.75% | 0.00% | 1.50% | 48.34% |
12b-1 Fee | N/A | 0.00% | 1.00% | 23.83% |
Administrative Fee | N/A | 0.01% | 0.35% | N/A |
Sales Fees
ACTV 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
ACTV 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.
ACTV Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | N/A | 7.00% | 252.00% | 44.76% |
ACTV - Distributions
Dividend Yield Analysis
ACTV | Category Low | Category High | ACTV % Rank | |
---|---|---|---|---|
Dividend Yield | 1.12% | 0.00% | 9.02% | 0.21% |
Dividend Distribution Analysis
ACTV | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | None | Annually | Quarterly | Annually |
Net Income Ratio Analysis
ACTV | Category Low | Category High | ACTV % Rank | |
---|---|---|---|---|
Net Income Ratio | N/A | -1.43% | 4.13% | 76.69% |
Capital Gain Distribution Analysis
ACTV | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Dec 26, 2023 | $0.395 | OrdinaryDividend |
Dec 28, 2022 | $0.083 | OrdinaryDividend |
Dec 28, 2021 | $2.782 | OrdinaryDividend |
ACTV - Fund Manager Analysis
Managers
Richard Duff
Start Date
Tenure
Tenure Rank
Oct 26, 2020
1.59
1.6%
Richard is President of Redwood Investment Management, with two decades of senior investment management experience including portfolio management and distribution as well as company strategy and product development in both large and small firms. Richard is responsible for overseeing Redwood’s investment solutions, from initial ideation to final implementation and risk management, distribution team development and management, and is a portfolio manager of two Redwood AlphaFactor® equity funds. Richard began his career as Senior Investment Officer at Pacific Income Advisers where he was a member of the equity strategy team utilizing quantitative screening in equity portfolio management. Later Richard was a Managing Director at BlackRock, where he was a member of the Equity Operating Committee and the AMG Executive Team. Richard’s BlackRock experience included managing a 100+ member team with a nine figure P&L, turning around the firm’s closed end fund franchise including the successful launch of BlackRock’s first equity strategy closed end funds, and leading the integration of the largest retained group in BlackRock’s first investment management firm acquisition. Richard received his BA from the University of California, Berkeley, attended Washington and Lee University, School of Law and received his JD from University of San Francisco, School of Law.
Michael Cheung
Start Date
Tenure
Tenure Rank
Oct 26, 2020
1.59
1.6%
Michael is a Portfolio Manager and Head of Quantitative Research at Redwood Investment Management. Michael works closely with the firm’s founder and President in overseeing the development, implementation, and live risk management of Redwood’s investment strategies. He leads the quantitative research effort including other members of the quantitative analyst team, and is responsible for proprietary investment model algorithm design and maintenance. Michael brings extensive experience working with a variety of programming languages and database structures, as well as broad knowledge of capital markets, global macro, and quantitative analysis, from his prior experience as a head trader on a proprietary equities trading desk. In addition, Michael was also formerly the head of a statistical arbitrage strategy that traded across multiple asset classes. He studied quantitative economics and mathematics at the University of California, Irvine.
Michael Messinger
Start Date
Tenure
Tenure Rank
Oct 26, 2020
1.59
1.6%
After years of personal research while working with talented investors and “allocators” in the leveraged finance ecosystem, Michael founded Redwood in 2010 as a quantitative research based money management firm with a “RiskFirst™” mandate. The initial tactical fixed-income strategy, Defensive Credit, formed the quantitative research foundation that led to the launch of Redwood’s 5-Star Morningstar rated Mutual Fund, the Redwood Managed Risk Plus L.P. hedge fund, as well as the Multi-Sector Managed Risk, and Systematic Macro Trend (SMarT) strategies. Since then, Michael has expanded Redwood’s capabilities, with additions of talented professionals, to provide tactical and strategic beta investment solutions that include Redwood’s AlphaFactor® equity strategies, fixed-income, and alternatives, as well as Redwood’s Dynamic Risk-Budget Model asset allocation portfolios. Michael is responsible for overseeing the development, implementation, and live risk management of Redwood’s investment strategies. Prior to Redwood, Michael served as a Vice President for Riversource Investments, (now known as Columbia Management), worked in multiple roles at ING investment management, and began his career as an Analyst at UBS. He received his B.S in Finance from the University of Arizona in Tucson.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 37.45 | 8.16 | 3.58 |