UVA Unconstrained Medium-Term Fixed Income ETF
Active ETF
FFIU
Price as of:
$21.70
+ $0.01
+ 0.05%
Primary Theme
fund company
Name
As of 11/14/2024Price
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
Vitals
YTD Return
1.0%
1 yr return
7.1%
3 Yr Avg Return
-2.7%
5 Yr Avg Return
0.0%
Net Assets
$43.1 M
Holdings in Top 10
23.6%
52 WEEK LOW AND HIGH
$21.7
$21.06
$22.91
Expenses
OPERATING FEES
Expense Ratio 0.81%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 30.49%
Redemption Fee N/A
Min Investment
Standard (Taxable)
N/A
IRA
N/A
Fund Classification
Fund Type
Exchange Traded Fund
Name
As of 11/14/2024Price
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
FFIU - Profile
Distributions
- YTD Total Return 1.0%
- 3 Yr Annualized Total Return -2.7%
- 5 Yr Annualized Total Return 0.0%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 2.47%
- Dividend Yield 0.0%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameUVA Unconstrained Medium-Term Fixed Income ETF
-
Fund Family NameSpinnaker ETF Trust
-
Inception DateAug 18, 2017
-
Shares Outstanding3100672
-
Share ClassN/A
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerRobert Barone
Fund Description
The Fund is an actively managed exchange-traded fund (“ETF”) that seeks to achieve its investment objective of current income by investing principally in fixed income securities of any kind with a dollar-weighted average effective duration of between three and ten years, under normal circumstances. Under normal market conditions, the Fund intends to invest at least 80% of its net assets (plus the amount of borrowings for investment purposes) in such securities. Fixed income securities include bonds, debt securities, and income-producing instruments of any kind issued by governmental or private-sector entities.
The fixed income and other income-producing instruments in which the Fund invests will typically be investment grade (rated BBB or better by either Moody’s Investors Services, Inc. (“Moody’s”) or Standard & Poor’s (“S&P”) and unrated securities considered by the Sub-Adviser to be of comparable credit quality). The Sub-Adviser considers all mortgage-backed securities to be eligible for purchase regardless of their credit rating or lack thereof, and such securities, if present in the Fund, are not considered by the Sub-Adviser to be below investment grade.
The Fund may invest in mortgage-backed securities of any maturity or type, including those guaranteed by, or secured by collateral that is guaranteed by, the United States Government, its agencies, instrumentalities, or sponsored corporations, as well as those of private issuers not subject to any guarantee. Mortgage-backed securities include, among others, government mortgage pass-through securities, collateralized mortgage obligations (“CMOs”), multiclass pass-through securities, and private mortgage pass-through securities. The Fund may also invest in corporate debt obligations, asset-backed securities, foreign securities (corporate and government), inflation-indexed bonds, and preferred securities.
The average maturity or duration of the Fund’s portfolio of fixed income securities will vary based on the Sub-Adviser’s assessment of economic and market conditions, as well as current and anticipated changes in interest rates. The Fund may invest in individual securities of any maturity or duration.
FFIU - Performance
Return Ranking - Trailing
| Period | FFIU Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 1.0% | -5.0% | 12.3% | 93.24% |
| 1 Yr | 7.1% | -1.4% | 20.8% | 92.94% |
| 3 Yr | -2.7%* | -10.0% | 27.7% | 66.03% |
| 5 Yr | 0.0%* | -7.3% | 58.8% | 64.35% |
| 10 Yr | N/A* | -2.8% | 73.9% | 9.35% |
* Annualized
Return Ranking - Calendar
| Period | FFIU Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 3.4% | -16.2% | 8.1% | 6.46% |
| 2022 | -17.7% | -34.7% | 131.9% | 86.99% |
| 2021 | -3.1% | -11.6% | 4.4% | 36.84% |
| 2020 | 4.9% | -10.1% | 946.1% | 31.63% |
| 2019 | 6.4% | -1.7% | 16.9% | 22.10% |
Total Return Ranking - Trailing
| Period | FFIU Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 1.0% | -5.0% | 12.3% | 93.24% |
| 1 Yr | 7.1% | -1.4% | 20.8% | 92.94% |
| 3 Yr | -2.7%* | -10.0% | 27.7% | 66.03% |
| 5 Yr | 0.0%* | -7.3% | 58.8% | 64.35% |
| 10 Yr | N/A* | -2.8% | 73.9% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | FFIU Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 7.4% | -11.3% | 11.9% | 11.18% |
| 2022 | -15.2% | -32.2% | 131.9% | 87.62% |
| 2021 | 0.1% | -9.4% | 9.2% | 20.94% |
| 2020 | 7.9% | -1.9% | 1009.0% | 59.52% |
| 2019 | 9.6% | 1.1% | 21668.0% | 29.08% |
FFIU - Holdings
Concentration Analysis
| FFIU | Category Low | Category High | FFIU % Rank | |
|---|---|---|---|---|
| Net Assets | 43.1 M | 2.9 M | 314 B | 94.17% |
| Number of Holdings | 102 | 1 | 17787 | 94.88% |
| Net Assets in Top 10 | 9.94 M | 1.62 M | 35.1 B | 95.70% |
| Weighting of Top 10 | 23.61% | 4.4% | 432.9% | 47.22% |
Top 10 Holdings
- FHLMC 4.25%
- CORPBOND 3.52%
- FNMASECY 3.12%
- FNMASECY 2.14%
- CORPBOND 2.04%
- MONEYMKT 1.97%
- CMO 1.67%
- FNMASECY 1.66%
- CORPBOND 1.64%
- FHLB 1.60%
Asset Allocation
| Weighting | Return Low | Return High | FFIU % Rank | |
|---|---|---|---|---|
| Bonds | 79.22% | 0.00% | 993.61% | 90.49% |
| Cash | 18.23% | -54.51% | 237.69% | 4.00% |
| Stocks | 2.55% | 0.00% | 99.99% | 6.44% |
| Preferred Stocks | 0.00% | 0.00% | 71.02% | 75.20% |
| Other | 0.00% | -16.55% | 52.94% | 90.06% |
| Convertible Bonds | 0.00% | 0.00% | 7.93% | 95.46% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | FFIU % Rank | |
|---|---|---|---|---|
| Utilities | 88.17% | 0.00% | 100.00% | 9.04% |
| Financial Services | 4.53% | 0.00% | 100.00% | 35.54% |
| Industrials | 3.85% | 0.00% | 48.31% | 24.70% |
| Healthcare | 2.62% | 0.00% | 17.70% | 19.28% |
| Technology | 0.76% | 0.00% | 43.45% | 24.70% |
| Consumer Cyclical | 0.06% | 0.00% | 100.00% | 37.35% |
| Real Estate | 0.00% | 0.00% | 99.26% | 71.08% |
| Energy | 0.00% | 0.00% | 100.00% | 77.71% |
| Communication Services | 0.00% | 0.00% | 100.00% | 72.89% |
| Consumer Defense | 0.00% | 0.00% | 99.67% | 70.48% |
| Basic Materials | 0.00% | 0.00% | 100.00% | 73.49% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | FFIU % Rank | |
|---|---|---|---|---|
| US | 2.55% | 0.00% | 99.99% | 6.45% |
| Non US | 0.00% | 0.00% | 86.16% | 67.83% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | FFIU % Rank | |
|---|---|---|---|---|
| Corporate | 76.88% | 0.00% | 100.00% | 0.62% |
| Municipal | 12.57% | 0.00% | 100.00% | 2.99% |
| Government | 2.93% | 0.00% | 86.23% | 92.88% |
| Cash & Equivalents | 1.97% | -0.46% | 237.69% | 55.02% |
| Securitized | 0.02% | 0.00% | 98.40% | 98.14% |
| Derivative | 0.00% | -1.58% | 44.82% | 69.77% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | FFIU % Rank | |
|---|---|---|---|---|
| US | 79.22% | 0.00% | 993.61% | 90.06% |
| Non US | 0.00% | 0.00% | 30.95% | 79.20% |
FFIU - Expenses
Operational Fees
| FFIU Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.81% | 0.01% | 39.64% | 38.87% |
| Management Fee | 0.25% | 0.00% | 1.76% | 16.56% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | 0.10% | 0.01% | 0.50% | 58.59% |
Sales Fees
| FFIU Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 2.00% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 4.00% | N/A |
Trading Fees
| FFIU 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.
| FFIU Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 30.49% | 2.00% | 493.39% | 8.73% |
FFIU - Distributions
Dividend Yield Analysis
| FFIU | Category Low | Category High | FFIU % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.00% | 0.00% | 10.11% | 54.29% |
Dividend Distribution Analysis
| FFIU | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Monthly | Quarterly | Monthly | Monthly |
Net Income Ratio Analysis
| FFIU | Category Low | Category High | FFIU % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 2.47% | -1.28% | 4.79% | 11.77% |
Capital Gain Distribution Analysis
| FFIU | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Sep 27, 2024 | $0.210 | OrdinaryDividend |
| Jun 28, 2024 | $0.210 | OrdinaryDividend |
| Mar 28, 2024 | $0.225 | OrdinaryDividend |
| Dec 28, 2023 | $0.230 | OrdinaryDividend |
| Oct 30, 2023 | $0.013 | OrdinaryDividend |
| Sep 28, 2023 | $0.066 | OrdinaryDividend |
| Aug 30, 2023 | $0.074 | OrdinaryDividend |
| Jul 28, 2023 | $0.069 | OrdinaryDividend |
| Jun 29, 2023 | $0.068 | OrdinaryDividend |
| May 30, 2023 | $0.066 | OrdinaryDividend |
| Apr 27, 2023 | $0.065 | OrdinaryDividend |
| Mar 30, 2023 | $0.064 | OrdinaryDividend |
| Feb 27, 2023 | $0.063 | OrdinaryDividend |
| Jan 30, 2023 | $0.060 | OrdinaryDividend |
| Dec 29, 2022 | $0.070 | OrdinaryDividend |
| Nov 29, 2022 | $0.064 | OrdinaryDividend |
| Oct 28, 2022 | $0.063 | OrdinaryDividend |
| Sep 29, 2022 | $0.063 | OrdinaryDividend |
| Aug 30, 2022 | $0.058 | OrdinaryDividend |
| Jul 28, 2022 | $0.058 | OrdinaryDividend |
| Jun 29, 2022 | $0.058 | OrdinaryDividend |
| May 27, 2022 | $0.055 | OrdinaryDividend |
| Apr 28, 2022 | $0.053 | OrdinaryDividend |
| Mar 30, 2022 | $0.052 | OrdinaryDividend |
| Feb 25, 2022 | $0.050 | OrdinaryDividend |
| Jan 28, 2022 | $0.050 | OrdinaryDividend |
| Dec 30, 2021 | $0.054 | OrdinaryDividend |
| Dec 30, 2021 | $0.010 | CapitalGainShortTerm |
| Dec 30, 2021 | $0.189 | CapitalGainLongTerm |
| Nov 29, 2021 | $0.052 | OrdinaryDividend |
| Oct 28, 2021 | $0.055 | OrdinaryDividend |
| Sep 29, 2021 | $0.055 | OrdinaryDividend |
| Aug 30, 2021 | $0.055 | OrdinaryDividend |
| Jul 29, 2021 | $0.054 | OrdinaryDividend |
| Jun 29, 2021 | $0.054 | OrdinaryDividend |
| May 27, 2021 | $0.054 | OrdinaryDividend |
| Apr 29, 2021 | $0.053 | OrdinaryDividend |
| Mar 30, 2021 | $0.053 | OrdinaryDividend |
| Feb 25, 2021 | $0.053 | OrdinaryDividend |
| Jan 28, 2021 | $0.054 | OrdinaryDividend |
| Dec 29, 2020 | $0.058 | OrdinaryDividend |
| Dec 29, 2020 | $0.019 | CapitalGainShortTerm |
| Dec 29, 2020 | $0.057 | CapitalGainLongTerm |
| Nov 27, 2020 | $0.053 | OrdinaryDividend |
| Oct 29, 2020 | $0.055 | OrdinaryDividend |
| Sep 29, 2020 | $0.054 | OrdinaryDividend |
| Aug 28, 2020 | $0.053 | OrdinaryDividend |
| Jul 30, 2020 | $0.056 | OrdinaryDividend |
| Jun 29, 2020 | $0.050 | OrdinaryDividend |
| May 28, 2020 | $0.055 | OrdinaryDividend |
| Apr 29, 2020 | $0.055 | OrdinaryDividend |
| Mar 30, 2020 | $0.060 | OrdinaryDividend |
| Feb 27, 2020 | $0.055 | OrdinaryDividend |
| Jan 30, 2020 | $0.053 | OrdinaryDividend |
| Dec 30, 2019 | $0.066 | OrdinaryDividend |
| Nov 27, 2019 | $0.061 | OrdinaryDividend |
| Oct 30, 2019 | $0.063 | OrdinaryDividend |
| Sep 27, 2019 | $0.063 | OrdinaryDividend |
| Aug 29, 2019 | $0.063 | OrdinaryDividend |
| Jul 30, 2019 | $0.065 | OrdinaryDividend |
| Jun 27, 2019 | $0.060 | OrdinaryDividend |
| May 30, 2019 | $0.063 | OrdinaryDividend |
| Apr 29, 2019 | $0.063 | OrdinaryDividend |
| Mar 28, 2019 | $0.060 | OrdinaryDividend |
| Feb 27, 2019 | $0.055 | OrdinaryDividend |
| Jan 30, 2019 | $0.063 | OrdinaryDividend |
| Dec 28, 2018 | $0.070 | OrdinaryDividend |
| Nov 29, 2018 | $0.060 | OrdinaryDividend |
| Oct 30, 2018 | $0.060 | OrdinaryDividend |
| Sep 27, 2018 | $0.050 | OrdinaryDividend |
| Aug 30, 2018 | $0.050 | OrdinaryDividend |
| Jul 30, 2018 | $0.050 | OrdinaryDividend |
| Jun 28, 2018 | $0.005 | ExtraDividend |
| Jun 28, 2018 | $0.050 | OrdinaryDividend |
| May 30, 2018 | $0.050 | OrdinaryDividend |
| Apr 27, 2018 | $0.050 | OrdinaryDividend |
| Mar 28, 2018 | $0.050 | OrdinaryDividend |
| Feb 27, 2018 | $0.040 | OrdinaryDividend |
| Jan 30, 2018 | $0.044 | OrdinaryDividend |
| Dec 28, 2017 | $0.052 | OrdinaryDividend |
| Nov 29, 2017 | $0.052 | OrdinaryDividend |
| Oct 30, 2017 | $0.060 | OrdinaryDividend |
FFIU - Fund Manager Analysis
Managers
Robert Barone
Start Date
Tenure
Tenure Rank
Aug 18, 2017
4.79
4.8%
Robert Barone, along with Joshua Barone, founded Unviersal Value Advisors (UVA) in 2006. He is currently the firm's economist as well as a wealth and portfolio manager. Mr. Barone holds a Ph.D. in economics (Georgetown University) and is nationally known for his blogs, many of which are posted on TheStreet.com, at the Minyanville blog site, or at Forbes. He is often quoted in the financial press, and writes a colum every other week for Reno's local newspaper, the Reno Gazette Journal. In his career, he has been a Prodessor of Finance (University of Nevada), a community bank CEO (Comstock Bancorp.), a Director of the Federal Home Loan Bank of San Francisco where he served as its Chair in 2004, and is currently a Director of CSAA Insurance Company (a AAA Insurance Company) where he chairs the Finance and Investment Commitee and a Director of AAA Northern California, Nevada, Utah (Auto Club). He was Chairman of both CSAA Insurance and the Auto Club In 2007-2009 (the entities were combined at that time). He also currently sits on the board of Allied Mineral Products, Columbus, OH, America's stongest refractory company.
Joshua Barone
Start Date
Tenure
Tenure Rank
Aug 18, 2017
4.79
4.8%
Mr. Barone has been the Mananging Member of Universal Value Advisors (UVA) since its inception in 2006. In that capacity, he is responsible for the company's day to day operations and is a major contributior to the company's stategic vision. Prior to forming UVA, along with Robert Barone, he co-founded Adagio Trust Company in 2000. After building the assets of that institution, both he and Robert sold their interests in Adagio in 2005 and subsequently founded UVA. Prior positions include: M&A analyst in the community bank space; insurance sales both in property and causalty, and life and health.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.08 | 33.43 | 6.79 | 1.16 |