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Name

As of 12/13/2023

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

Roundhill IO Digital Infrastructure ETF

BYTE | ETF

$9.53

$1.17 M

0.95%

$0.09

0.46%

Vitals

YTD Return

0.1%

1 yr return

-2.8%

3 Yr Avg Return

N/A

5 Yr Avg Return

N/A

Net Assets

$1.17 M

Holdings in Top 10

69.8%

52 WEEK LOW AND HIGH

$9.5
$8.64
$10.90

Expenses

OPERATING FEES

Expense Ratio 0.46%

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 12/13/2023

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

Roundhill IO Digital Infrastructure ETF

BYTE | ETF

$9.53

$1.17 M

0.95%

$0.09

0.46%

BYTE - Profile

Distributions

  • YTD Total Return 0.1%
  • 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 1.0%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    Roundhill IO Digital Infrastructure ETF
  • Fund Family Name
    N/A
  • Inception Date
    Oct 27, 2021
  • Shares Outstanding
    N/A
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Andrew Serowik

Fund Description

The Fund seeks to track the performance, before fees and expenses, of the IO Digital Infrastructure Index, which tracks the performance of digital infrastructure companies. IO Digital Index Partners acts as the Index Provider, and the Index is calculated by Solactive AG.
IO Digital Infrastructure Index
Modern society is built on an omnipresent internet that depends on digital infrastructure to enable and support its presence and functions. Digital infrastructure is comprised of the high-tech physical assets that support the efficient storage and transmission of data, powering the internet. “Digital infrastructure assets” include fixed-line, high-speed data transmission technology and hardware (such as fiberoptic cable and certain “last-mile” technologies that bring data to and from the end-user); data centers; mobile towers and related infrastructure; and other long-lived physical infrastructure assets, which can be characterized as any of the physical resources that are necessary to enable the use of data, computerized devices, methods, systems and processes (e.g., customer premise equipment, such as a cable box; real estate housing or on which digital infrastructure assets are fixed; or TV, radio, and other communication antennas). The Index is designed to track the performance of infrastructure assets.
A committee composed of IO Digital Index Partners (“Index Committee”) is responsible for decisions regarding composition of the Index. The Index is comprised of the common stock of 40 U.S. and foreign exchange-listed companies that earn a majority of their revenues from digital infrastructure assets (“Digital Infrastructure Companies”). To qualify for the Index universe, companies must maintain a minimum market capitalization of $250 million USD and a minimum 1-month trailing average daily traded value of $1 million USD on the Selection Day (defined below). On Selection Day, the Index will be constructed using specific geographic criteria, based on the Index Committee’s assessment of the location of a company’s headquarters or its primary business operations, if located
in a different region. The respective minimums and maximums may be changed over time at the Index Committee’s discretion, however, initially:
•a minimum of 65% of the Index will be comprised of U.S. companies;
•a maximum of 15% of the Index will be comprised of emerging markets companies (i.e., those markets designated as either “Emerging” or “Frontier” in the Dow Jones S&P Country Classification, except for Guernsey and Malta, which the Index Provider considers developed markets); and
•a maximum of 35% of the Index will be comprised of companies organized and primarily operating in non-U.S. developed market countries, as defined by the S&P Dow Jones Country Classification methodology. Currently, developed market countries are those countries that meet all of the global equity index series eligibility and emerging market criteria and have a nominal Gross Domestic Product per capita, at Purchasing Power Parity (PPP), of greater than US$ 15,000.
In addition, each company is ranked based upon the Index Provider’s proprietary ranking methodology utilizing three fundamental factors: Growth, Value, and Soundness (“GVS”). In assigning a GVS rank, the Index Committee seeks to optimize the Index for a combination of gross revenue and profitability growth (Growth), attractive purchase prices based on fundamental analysis (Value), and businesses with strong financial health (Soundness). When assessing a company’s financial health, the Index Committee may consider a combination of factors, including the company’s scale (measured by its sales during the preceding 12 months), cash generation (cash flow growth), profitability, operating leverage, and indebtedness.
Growth, Value, and Soundness are interrelated and overlapping factors. Each GVS factor is weighted according to the Index’s proprietary ranking methodology, which utilizes specific metrics, including: last twelve months (“LTM”) sales; two-year growth in cash flows from operations per share; two-year percentage change in earnings before interest, tax, depreciation and amortization (“EBITDA”) margin, LTM EBITDA less capital expenditure margin; enterprise value/EBITDA; and net debt/EBITDA. These metrics are interrelated and may be applicable to one or more of the GVS factors. The metrics and their weightings with respect to each GVS factor may be adjusted by the Index Committee over time. However, attributing those metrics to the factor with which they are currently most strongly associated, the Index Committee anticipates the following initial GVS factor weighting: 40% Growth, 10% Value, and 50% Soundness.
The Index is systematically constructed by first selecting eligible U.S. companies until the U.S. geographic threshold (i.e., 65% of the Index) is met. Once the U.S. threshold is achieved, the Index is further constructed by selecting the highest GVS-ranked companies from around the world, with emerging markets and non-U.S. developed markets each subject to its respective geographic maximum threshold. All constituent position sizes are prescribed according to the Index Provider’s proprietary GVS ranking methodology until at least 85% of the Index has been allocated. Once at least 85% has been allocated, the remaining allocation is evenly weighted until a total of 40 constituents have been selected (subject to the geographic maximum thresholds).
The Index will be rebalanced and reconstituted semi-annually on the third Friday of March and September. Selections will be made the Monday prior to the third Friday of March and September (“Selection Day”).
When selecting the Index universe, the Index Committee may also consider factors such as the scale of a company’s business operations (including its total revenue and geographic footprint) and the amount of a company’s revenue generated from the portion of its business operations that the Index Committee considers to be digital infrastructure.
The Fund’s Investment Strategy
Under normal circumstances, at least 80% of the Fund’s net assets (plus any borrowings for investment purposes) will be invested in Digital Infrastructure Companies, which may include investments in common stock, American Depository Receipts (“ADRs”), Global Depository Receipts (“GDRs”), or equity real estate investment trusts (“REITs”). The Fund expects that, over time, the correlation between the Fund’s performance and that of the Index, before fees and expenses, will be 95% or better.
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 proportions 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 Exchange Traded Concepts, LLC (the “Sub-Adviser”), 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 also may invest in securities or other investments not included in the Index, but which the 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. As of March 31, 2023, the Index was concentrated in the Media Industry, a separate industry within the Communication Services Sector. The Fund is classified as a “non-diversified” investment company under the Investment Company Act of 1940 (the “1940 Act”).
Read More

BYTE - Performance

Return Ranking - Trailing

Period BYTE Return Category Return Low Category Return High Rank in Category (%)
YTD 0.1% -22.2% 15.3% 95.24%
1 Yr -2.8% -45.4% -6.3% N/A
3 Yr N/A* -9.2% 11.6% N/A
5 Yr N/A* -5.2% 4.0% N/A
10 Yr N/A* -10.3% 6.9% N/A

* Annualized

Return Ranking - Calendar

Period BYTE Return Category Return Low Category Return High Rank in Category (%)
2023 -37.0% -49.3% 6.4% N/A
2022 N/A -8.2% 12.1% N/A
2021 N/A -0.2% 13.4% N/A
2020 N/A -1.2% 8.1% N/A
2019 N/A -5.6% -0.6% N/A

Total Return Ranking - Trailing

Period BYTE Return Category Return Low Category Return High Rank in Category (%)
YTD 0.1% -46.7% 15.3% 95.24%
1 Yr -2.8% -45.4% -6.3% N/A
3 Yr N/A* -9.2% 11.6% N/A
5 Yr N/A* -4.4% 4.0% N/A
10 Yr N/A* -10.3% 6.9% N/A

* Annualized

Total Return Ranking - Calendar

Period BYTE Return Category Return Low Category Return High Rank in Category (%)
2023 -36.4% -49.3% 6.4% N/A
2022 N/A -8.2% 12.1% N/A
2021 N/A -0.2% 13.4% N/A
2020 N/A -1.2% 8.1% N/A
2019 N/A -5.4% -0.6% N/A

BYTE - Holdings

Concentration Analysis

BYTE Category Low Category High BYTE % Rank
Net Assets 1.17 M 1.59 M 10.3 B 97.62%
Number of Holdings 42 25 115 64.29%
Net Assets in Top 10 815 K 645 K 7.27 B 88.10%
Weighting of Top 10 69.79% 32.4% 78.0% 73.81%

Top 10 Holdings

  1. Mount Vernon Liquid Assets Portfolio, LLC 17.91%
  2. Aussie Broadband Ltd 7.38%
  3. Quebecor Inc 7.00%
  4. Equinix Inc 6.59%
  5. Comcast Corp 6.43%
  6. Charter Communications Inc 5.76%
  7. American Tower Corp 5.48%
  8. Uniti Group Inc 4.97%
  9. Cable One Inc 4.48%
  10. Telekom Malaysia Bhd 3.77%

Asset Allocation

Weighting Return Low Return High BYTE % Rank
Stocks 		99.55% 91.08% 100.08% 40.48%
Cash 		18.37% -0.08% 7.19% 47.62%
Preferred Stocks 		0.00% 0.00% 5.04% 28.57%
Other 		0.00% -2.87% 0.27% 38.10%
Convertible Bonds 		0.00% 0.00% 1.39% 28.57%
Bonds 		0.00% 0.00% 0.00% 26.19%

Stock Sector Breakdown

Weighting Return Low Return High BYTE % Rank
Utilities 		0.00% 0.00% 0.00% 26.19%
Technology 		0.00% 0.00% 68.78% 47.62%
Real Estate 		0.00% 0.00% 24.21% 2.38%
Industrials 		0.00% 0.00% 2.78% 11.90%
Healthcare 		0.00% 0.00% 8.16% 28.57%
Financial Services 		0.00% 0.00% 6.60% 40.48%
Energy 		0.00% 0.00% 3.50% 30.95%
Communication Services 		0.00% 21.07% 100.00% 64.29%
Consumer Defense 		0.00% 0.00% 3.34% 30.95%
Consumer Cyclical 		0.00% 0.00% 14.61% 71.43%
Basic Materials 		0.00% 0.00% 0.00% 26.19%

Stock Geographic Breakdown

Weighting Return Low Return High BYTE % Rank
US 		71.80% 51.91% 99.98% 85.71%
Non US 		27.75% 0.00% 42.13% 16.67%

BYTE - Expenses

Operational Fees

BYTE Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.46% 0.08% 2.43% 56.10%
Management Fee 0.45% 0.00% 1.00% 69.05%
12b-1 Fee N/A 0.00% 1.00% 11.76%
Administrative Fee N/A 0.10% 0.25% N/A

Sales Fees

BYTE 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% 1.00% N/A

Trading Fees

BYTE Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 2.00% 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.

BYTE Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 3.00% 75.00% 2.78%

BYTE - Distributions

Dividend Yield Analysis

BYTE Category Low Category High BYTE % Rank
Dividend Yield 0.95% 0.00% 2.52% 47.62%

Dividend Distribution Analysis

BYTE Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annually Quarterly Annually

Net Income Ratio Analysis

BYTE Category Low Category High BYTE % Rank
Net Income Ratio N/A -1.68% 2.76% 33.33%

Capital Gain Distribution Analysis

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

Distributions History

View More +

BYTE - Fund Manager Analysis

Managers

Andrew Serowik

Start Date

Tenure

Tenure Rank

Oct 27, 2021

0.59

0.6%

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.

Gabriel Tan

Start Date

Tenure

Tenure Rank

Oct 27, 2021

0.59

0.6%

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

Oct 27, 2021

0.59

0.6%

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
1.5 24.18 6.76 2.12

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