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Name

As of 04/16/2024

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

Donoghue Forlines Yield Enhanced Real Asset ETF

DFRA | ETF

$29.96

$43.1 M

2.47%

$0.74

0.69%

Vitals

YTD Return

4.4%

1 yr return

18.6%

3 Yr Avg Return

N/A

5 Yr Avg Return

N/A

Net Assets

$43.1 M

Holdings in Top 10

41.4%

52 WEEK LOW AND HIGH

$30.2
$24.96
$31.15

Expenses

OPERATING FEES

Expense Ratio 0.69%

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 04/16/2024

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

Donoghue Forlines Yield Enhanced Real Asset ETF

DFRA | ETF

$29.96

$43.1 M

2.47%

$0.74

0.69%

DFRA - Profile

Distributions

  • YTD Total Return 4.4%
  • 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 2.5%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    Donoghue Forlines Yield Enhanced Real Asset ETF
  • Fund Family Name
    N/A
  • Inception Date
    Dec 13, 2021
  • Shares Outstanding
    N/A
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    John Forlines

Fund Description

To pursue its investment objective, the Fund invests, under normal market circumstances, at least 80% of its net assets (plus any borrowings for investment purposes) in component securities of the Underlying Index. The Underlying Index is sponsored and maintained by FCF Indexes LLC (the “Index Provider”), an affiliate of FCF Advisors LLC, the Fund’s investment adviser. The Underlying Index is designed to track the investment results of a rules-based strategy that aims to provide exposure to “real assets” equities based on the Adviser’s proprietary research. The Fund intends to maintain a portfolio of securities that generally replicates the holdings of the Underlying Index.
The Adviser currently defines “real assets” equities as common stock, real estate investment trusts (“REITs”), master limited partnerships (“MLPs”), and American Depositary Receipts (“ADRs”) included in the “Real Assets Industry Group,” as defined by the Index Provider. The Index Provider currently classifies the following sectors as within the Real Assets Industry Group, each as defined by a third-party industry classification system: real-estate related sectors, including diversified, equity and mortgage REITs; infrastructure-related sectors, including industrial manufacturing and services; commodities related sectors, including chemical, plastic and rubber materials, manufactured products, and food and tobacco production; and natural resources related sectors, including upstream energy, downstream and midstream energy, integrated oil and gas exploration and production, waste management, and mining and mineral products.
To be eligible for inclusion in the Underlying Index, an equity security must: (i) be included in the Real Assets Industry Group; (ii) be U.S. listed; (iii) have a 6-month monthly average price volume in the top 45 percentile of the global equity universe; (iv) have a trading lot size, multiplied by the 6-month average closing price, of less than $100,000; (v) have reported the following financial statement items within the past 12 months, based on its most recent financial reports: (a) free cash flow, (b) net income, (c) dividends, (d) total revenue, (e) total assets, and (f) total equity; (vi) have reported positive free cash flow in the past 12 months; and (vii) not be a target company in any pending or completed mergers and/or acquisitions within the past 12 months. The Underlying Index may include securities of issuers of all capitalization sizes.
Each security eligible for inclusion is then scored based on the following components of the company issuing the security (the “FCF Quality Dividend Score”), which is intended to be representative of a company’s ability to generate profits and pay dividends: (i) free cash flow profitability; (ii) quality of earnings (i.e., a metric that determines the proportion of income attributable to the cash flow activities of a company); and (iii) dividend yield. Only companies with an FCF Quality Dividend Score within the top 25% of all eligible securities are candidates for inclusion in the Underlying Index. A target weighting is then assigned to each security based on a combination of its FCF Quality Dividend Score and free-float market capitalization. Companies are then ranked based on their target weighting and sequentially included in the Underlying Index until either 75 securities have been included or 90% of the cumulative security weight has been included, whichever occurs first. The Underlying Index is rebalanced and reconstituted quarterly. The Fund’s portfolio is generally rebalanced and reconstituted quarterly, in accordance with the Underlying Index.
The Fund can use derivative instruments, including exchange-traded futures contracts, to gain exposure to component securities of the Underlying Index.
Donoghue Forlines LLC, the Fund’s sub-adviser (the “Sub-Adviser”), may engage in active and frequent trading of the Fund’s portfolio securities to achieve the Fund’s investment objective.
The Fund will concentrate its investments (i.e., invest more than 25% of its total assets) in a particular industry or group of industries to approximately the same extent that the Underlying Index is
concentrated. As of September 30, 2023, the Underlying Index is concentrated in the Real Assets Industry Group, as described above.
Read More

DFRA - Performance

Return Ranking - Trailing

Period DFRA Return Category Return Low Category Return High Rank in Category (%)
YTD 4.4% -21.2% 27.4% 58.32%
1 Yr 18.6% -61.1% 51.5% N/A
3 Yr N/A* -22.7% 64.3% N/A
5 Yr N/A* -17.2% 29.8% N/A
10 Yr N/A* -16.4% 14.3% N/A

* Annualized

Return Ranking - Calendar

Period DFRA Return Category Return Low Category Return High Rank in Category (%)
2023 13.1% -65.1% 38.0% N/A
2022 -0.9% -25.3% 29.0% N/A
2021 N/A -8.4% 56.7% N/A
2020 N/A -24.3% 10.4% N/A
2019 N/A -9.4% 21.9% N/A

Total Return Ranking - Trailing

Period DFRA Return Category Return Low Category Return High Rank in Category (%)
YTD 4.4% -21.2% 27.4% 95.56%
1 Yr 18.6% -61.1% 61.5% N/A
3 Yr N/A* -22.7% 64.3% N/A
5 Yr N/A* -16.2% 32.9% N/A
10 Yr N/A* -3.7% 21.1% N/A

* Annualized

Total Return Ranking - Calendar

Period DFRA Return Category Return Low Category Return High Rank in Category (%)
2023 18.9% -65.1% 38.0% N/A
2022 7.5% -25.3% 29.0% N/A
2021 N/A -8.4% 56.7% N/A
2020 N/A -24.3% 10.4% N/A
2019 N/A -8.9% 21.9% N/A

DFRA - Holdings

Concentration Analysis

DFRA Category Low Category High DFRA % Rank
Net Assets 43.1 M 390 K 151 B 86.14%
Number of Holdings 75 2 1727 54.56%
Net Assets in Top 10 17.5 M 2.1 K 32.3 B 84.53%
Weighting of Top 10 41.37% 5.0% 99.2% 74.53%

Top 10 Holdings

  1. Mount Vernon Liquid Assets Portfolio, LLC 20.55%
  2. Exxon Mobil Corp 2.74%
  3. Shell PLC 2.56%
  4. Chevron Corp 2.42%
  5. BHP Group Ltd 2.40%
  6. Petroleo Brasileiro SA 2.29%
  7. Southern Copper Corp 2.15%
  8. Petroleo Brasileiro SA 2.14%
  9. ConocoPhillips 2.14%
  10. Simon Property Group Inc 1.98%

Asset Allocation

Weighting Return Low Return High DFRA % Rank
Stocks 		97.39% 28.02% 125.26% 57.39%
Cash 		20.66% -88.20% 71.98% 73.47%
Preferred Stocks 		2.14% 0.00% 19.30% 3.48%
Other 		0.00% -2.02% 26.80% 55.99%
Convertible Bonds 		0.00% 0.00% 3.66% 57.46%
Bonds 		0.00% 0.00% 80.18% 58.31%

Stock Sector Breakdown

Weighting Return Low Return High DFRA % Rank
Utilities 		0.00% 0.00% 27.04% 94.49%
Technology 		0.00% 0.00% 54.02% 98.29%
Real Estate 		0.00% 0.00% 90.54% 0.31%
Industrials 		0.00% 0.00% 42.76% 1.71%
Healthcare 		0.00% 0.00% 30.77% 99.61%
Financial Services 		0.00% 0.00% 58.05% 99.92%
Energy 		0.00% 0.00% 54.00% 0.16%
Communication Services 		0.00% 0.00% 26.58% 98.76%
Consumer Defense 		0.00% 0.00% 34.10% 96.58%
Consumer Cyclical 		0.00% 0.00% 22.74% 99.30%
Basic Materials 		0.00% 0.00% 21.69% 0.39%

Stock Geographic Breakdown

Weighting Return Low Return High DFRA % Rank
US 		97.39% 24.51% 121.23% 93.12%
Non US 		0.00% 0.00% 45.02% 3.17%

DFRA - Expenses

Operational Fees

DFRA Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.69% 0.01% 4.02% 64.81%
Management Fee 0.69% 0.00% 1.50% 73.78%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.50% N/A

Sales Fees

DFRA 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 0.95% 5.00% N/A

Trading Fees

DFRA 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.

DFRA Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 488.00% N/A

DFRA - Distributions

Dividend Yield Analysis

DFRA Category Low Category High DFRA % Rank
Dividend Yield 2.47% 0.00% 42.27% 84.17%

Dividend Distribution Analysis

DFRA Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Annually Quarterly Annually

Net Income Ratio Analysis

DFRA Category Low Category High DFRA % Rank
Net Income Ratio N/A -1.51% 4.28% N/A

Capital Gain Distribution Analysis

DFRA Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Quarterly Annually

Distributions History

View More +

DFRA - Fund Manager Analysis

Managers

John Forlines

Start Date

Tenure

Tenure Rank

Dec 13, 2021

0.46

0.5%

John A. Forlines III is Chief Investment Officer at W.E. Donoghue and a member of the Investment Committee. In addition to his leadership as a portfolio manager, Mr. Forlines is an Executive in Residence in the Department of Economics at Duke where he teaches classes in behavioral finance and decision making. Mr. Forlines enjoyed a long career with J.P. Morgan from 1985-2000, serving various roles within the firm, including Vice President of Structured Products, Co-Head of the U.S. Private Equity Group, Managing Director in the Securities Business Development Group and Managing Director and Co-Head of U.S. Tech, Media & Telecom Investment Banking. Mr. Forlines is admitted to the practice of law in the State of New York; before his career at JP Morgan his legal work specialized in structured debt and equity products. Graduating from Duke University with Honors in English and Economics, Mr. Forlines has also earned his J.D from the Duke University School of Law.

Richard Molari

Start Date

Tenure

Tenure Rank

Dec 13, 2021

0.46

0.5%

Rick is the Chief Operating Officer of W.E. Donoghue & Co. LLC. He is a principal, corporate officer as well as a member of W.E. Donoghue & Co., LLC's Investment Policy Committee. As part of Rick's responsibilities on the investment committee he is involved in the design and maintenance of the technical asset allocation models applied to the high yield asset class and equity rotation strategies. He is also a co-portfolio manager to the Power Funds suite of 40 Act mutual funds, of which W. E. Donoghue & Co. LLC is the Advisor. Rick is an accomplished investment management operations and global trading specialist with over fifteen years of industry experience. He has extensive knowledge of international equity, fixed income and currency markets as well as back and middle office operations, portfolio accounting and compliance regulations. Rick joined W.E. Donoghue & Co., LLC in 2014 to manage the trading and operations team. Prior to his current role, Rick spent nine years at a multi-billion dollar Boston based global hedge fund, trading international equities and managing trade operations. He started his professional career in fund accounting and back office administration with State Street Global Advisors and later BISYS Hedge Fund Services Inc. Rick holds a dual Bachelor's of Science degree from Northeastern University in Finance and Entrepreneurship. He is currently an active member of the CFA Institute, the Boston Security Analysts Society and the Boston Securities Traders Association.

Jeffrey Thompson

Start Date

Tenure

Tenure Rank

Dec 13, 2021

0.46

0.5%

Jeff is President and CEO of W.E. Donoghue & Co., LLC. He is a principal and corporate officer as well as a member of W.E. Donoghue & Co., LLC's Investment Policy Committee. As part of Jeff's responsibilities on the investment committee he leads in the design and maintenance of the technical asset allocation models applied to the high yield asset class and equity rotation strategies. In addition, he has been instrumental in collaborating with Standard and Poor’s and S-Network in the design of the custom indices being offered by WEDCO for which the SMA investment portfolios are predicated upon. He is also a co-portfolio manager to the Power Funds suite of 40 Act mutual funds, of which W. E. Donoghue & Co. LLC is the Advisor. Jeff had worked as an Account Executive for national and super regional firms Lehman Brothers, Gruntal & Co., and Cowen & Co. from 1992-1996. There he worked with individual investors, as well as institutional investors, recommending and trading individual securities. Further, BTS Asset Management employed Jeff from 1996-1998 as a Regional Vice President providing investment advisory services to institutional clients.

Nicholas Lobley

Start Date

Tenure

Tenure Rank

Dec 13, 2021

0.46

0.5%

Mr. Lobley was promoted to Portfolio Manager of W.E. Donoghue & Co., LLC in 2019. Mr. Lobley was previously promoted to Senior Research Analyst in 2018 after joining the firm as Analyst in 2018. Prior to joining W.E. Donoghue & Co., Mr. Lobley was an Analyst with JAForlines Global, an independent investment adviser, since 2017. From 2016 to 2017, Mr. Lobley was an Associate with Paley Advisors, LLC. Mr. Lobley holds a Bachelor of Arts in Economics from Oberlin College.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.09 86.59 7.9 16.42

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