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Name

As of 04/17/2024

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

Opal Dividend Income ETF

DIVZ | Active ETF

$28.68

$61.8 M

4.98%

$1.43

0.65%

Vitals

YTD Return

3.8%

1 yr return

4.2%

3 Yr Avg Return

4.8%

5 Yr Avg Return

N/A

Net Assets

$61.8 M

Holdings in Top 10

44.9%

52 WEEK LOW AND HIGH

$28.7
$25.47
$29.83

Expenses

OPERATING FEES

Expense Ratio 0.65%

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 04/17/2024

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

Opal Dividend Income ETF

DIVZ | Active ETF

$28.68

$61.8 M

4.98%

$1.43

0.65%

DIVZ - Profile

Distributions

  • YTD Total Return 3.8%
  • 3 Yr Annualized Total Return 4.8%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio N/A
DIVIDENDS
  • Dividend Yield 5.0%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    Opal Dividend Income ETF
  • Fund Family Name
    N/A
  • Inception Date
    Jan 28, 2021
  • Shares Outstanding
    N/A
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Jordan Waldrep

Fund Description

The Fund is an actively-managed exchange-traded fund (“ETF”) that seeks to achieve its investment objective by purchasing 25-35 stocks of companies that pay dividends and expect to grow the dividends over time and are trading at attractive valuations at the time of the investment. The Fund’s investment adviser, TrueMark Investments, LLC (the “Adviser”), and sub-adviser, Titleist Asset Management, Ltd. (the “Sub-Adviser”), will seek to invest in such companies that are established businesses with high cash flow, stable revenue streams, and more disciplined capital reinvestment programs which may, in turn, experience lower volatility relative to the overall equity market.
The Adviser and Sub-Adviser will focus on companies whose stock is listed on a U.S. exchange with market capitalizations greater than $8 billion, but may include companies with market capitalizations of less than $8 billion if their dividend yields are above the market average. The Adviser and Sub-Adviser will select companies for the Fund that, in the Sub-Adviser’s determination, provide the best combination of dividend yield with potential for dividend growth and are currently under-valued in the market. Under normal circumstances, at least 80% of the Fund’s net assets, plus borrowings for investment purposes, will be invested in equity securities, including common stocks and American Depositary Receipts (“ADRs”).
The Sub-Adviser makes its initial identification of potential portfolio securities based on its assessment of a company’s ability and commitment to sustain and grow its dividends. The Sub-Adviser seeks to identify such companies by utilizing a combination of quantitative and qualitative indicators of the company’s financial position, growth opportunities, historical payouts, and management commentary, as well as the competitive landscape.
The Sub-Adviser will then review the current market valuation of these companies which the Sub-Adviser believes are under-valued. The Sub-Adviser first identifies “high quality companies,” which are generally defined as companies with a sustainable competitive
advantage, offering stable and growing free cash flows, and quality management teams that have the capital discipline to distribute dividends to shareholders. The Sub-Adviser then selects companies whose stock is trading at a valuation that it believes offers an opportunity to generate above average returns over time. The Sub-Adviser utilizes a variety of metrics (e.g., price compared to earnings ratio, market capitalization compared to book value, free cash flow yield, etc.) in the valuation process and seeks to identify companies that are attractively priced both in absolute terms and relative to their peers with a preference of companies with higher free cash flow. The Fund is considered to be non-diversified, which means that it may invest more of its assets in the securities of a single issuer or a lesser number of issuers than if it were a diversified fund.
Read More

DIVZ - Performance

Return Ranking - Trailing

Period DIVZ Return Category Return Low Category Return High Rank in Category (%)
YTD 3.8% -21.2% 27.4% 34.39%
1 Yr 4.2% -61.1% 51.5% 1.29%
3 Yr 4.8%* -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 DIVZ Return Category Return Low Category Return High Rank in Category (%)
2023 -4.1% -65.1% 38.0% N/A
2022 0.2% -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 DIVZ Return Category Return Low Category Return High Rank in Category (%)
YTD 3.8% -21.2% 27.4% 93.34%
1 Yr 4.2% -61.1% 61.5% 3.39%
3 Yr 4.8%* -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 DIVZ Return Category Return Low Category Return High Rank in Category (%)
2023 -0.5% -65.1% 38.0% N/A
2022 3.5% -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

DIVZ - Holdings

Concentration Analysis

DIVZ Category Low Category High DIVZ % Rank
Net Assets 61.8 M 390 K 151 B 87.49%
Number of Holdings 30 2 1727 93.51%
Net Assets in Top 10 27.7 M 2.1 K 32.3 B 82.68%
Weighting of Top 10 44.90% 5.0% 99.2% 8.13%

Top 10 Holdings

  1. UnitedHealth Group Inc. COM USD0.01 5.33%
  2. Verizon Communications Inc. COM USD0.10 5.05%
  3. British American Tobacco PLC SPON ADS EACH REP 1 ORD LVL 4.67%
  4. American Electric Power Co, Inc. COM USD6.50 4.62%
  5. EOG Resources Inc. COM USD0.01 4.47%
  6. ATT Inc COM USD1 4.37%
  7. Nextera Energy Inc COM USD0.01 4.31%
  8. Philip Morris International Inc. COM NPV 4.07%
  9. Exxon Mobil Corporation COM NPV 4.02%
  10. Devon Energy Corporation COM USD0.10 3.98%

Asset Allocation

Weighting Return Low Return High DIVZ % Rank
Stocks 		98.09% 28.02% 125.26% 85.69%
Cash 		2.94% -88.20% 71.98% 10.67%
Preferred Stocks 		0.00% 0.00% 19.30% 15.16%
Other 		0.00% -2.02% 26.80% 7.58%
Convertible Bonds 		0.00% 0.00% 3.66% 9.28%
Bonds 		0.00% 0.00% 80.18% 10.90%

Stock Sector Breakdown

Weighting Return Low Return High DIVZ % Rank
Utilities 		0.00% 0.00% 27.04% 20.03%
Technology 		0.00% 0.00% 54.02% 93.25%
Real Estate 		0.00% 0.00% 90.54% 84.16%
Industrials 		0.00% 0.00% 42.76% 56.83%
Healthcare 		0.00% 0.00% 30.77% 14.52%
Financial Services 		0.00% 0.00% 58.05% 95.19%
Energy 		0.00% 0.00% 54.00% 1.01%
Communication Services 		0.00% 0.00% 26.58% 31.06%
Consumer Defense 		0.00% 0.00% 34.10% 20.42%
Consumer Cyclical 		0.00% 0.00% 22.74% 87.34%
Basic Materials 		0.00% 0.00% 21.69% 92.86%

Stock Geographic Breakdown

Weighting Return Low Return High DIVZ % Rank
US 		98.09% 24.51% 121.23% 71.85%
Non US 		0.00% 0.00% 45.02% 38.98%

DIVZ - Expenses

Operational Fees

DIVZ Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.65% 0.01% 4.02% 68.60%
Management Fee 0.65% 0.00% 1.50% 65.42%
12b-1 Fee N/A 0.00% 1.00% 1.38%
Administrative Fee N/A 0.01% 0.50% N/A

Sales Fees

DIVZ 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

DIVZ 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.

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

DIVZ - Distributions

Dividend Yield Analysis

DIVZ Category Low Category High DIVZ % Rank
Dividend Yield 4.98% 0.00% 42.27% 10.91%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

DIVZ Category Low Category High DIVZ % Rank
Net Income Ratio N/A -1.51% 4.28% 2.48%

Capital Gain Distribution Analysis

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

Distributions History

View More +

DIVZ - Fund Manager Analysis

Managers

Jordan Waldrep

Start Date

Tenure

Tenure Rank

Jan 27, 2021

1.34

1.3%

Jordan Waldrep brings over 15 years of investment experience to TrueMark. Previously, Mr. Waldrep was the Senior Portfolio Manager of the Vice President and Co-Portfolio Manager of the Navigator Fund at USA Mutuals. Mr. Waldrep has over 18 years of investment experience. He was the portfolio manager of Blackfin Capital ("Blackfin") from March 2014 through August 2017. Prior to Blackfin, he was an analyst and trader at Hourglass Capital since 2008. Mr. Waldrep is a member of the CFA Institute and the CFA Society of Dallas and Fort Worth. He is a Chartered Financial Ananlyst. Mr. Waldrep received a BA in Biology and History from Texas A&M University and an MBA from the University of Texas McCombs School of Business.

Austin Graff

Start Date

Tenure

Tenure Rank

Jan 27, 2021

1.34

1.3%

Mr. Austin Graff serves as Portfolio Manager at Shorebird Capital. Mr. Graff is the managing partner of the Shorebird Avocet Fund, a deep value and special situations investment strategy. Previously, Mr. Graff was a senior vice president and portfolio manager at PIMCO where he co-managed over $4 billion across a suite of equity strategies. Graff has an MBA and undergraduate degree in finance and management from Purdue University. He earned his CFA designation in 2012.

Tenure Analysis

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

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