Strategy Shares Gold-Hedged Bond ETF
Name
As of 12/20/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
20.4%
1 yr return
21.6%
3 Yr Avg Return
1.8%
5 Yr Avg Return
N/A
Net Assets
$8.02 M
Holdings in Top 10
27.3%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 0.79%
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 12/20/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
GOLY - Profile
Distributions
- YTD Total Return 20.4%
- 3 Yr Annualized Total Return 1.8%
- 5 Yr Annualized Total Return N/A
- Capital Gain Distribution Frequency N/A
- Net Income Ratio N/A
- Dividend Yield 5.2%
- Dividend Distribution Frequency Monthly
Fund Details
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Legal NameStrategy Shares Gold-Hedged Bond ETF
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Fund Family NameStrategy Shares
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Inception DateMay 17, 2021
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Shares OutstandingN/A
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Share ClassN/A
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CurrencyUSD
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Domiciled CountryUS
Fund Description
The Fund seeks to track the performance of the Index. The Index is designed to provide broad exposure to the U.S. dollar-denominated investment grade corporate bond sector while at the same time mitigating or hedging against U.S. dollar currency risk through the implementation of a gold inflation hedge. The Index provides investment exposure to gold that approximately equals the investment exposure to the corporate bonds comprising the Index and, in doing so, attempts to provide investment exposure to U.S. dollar-denominated corporate bond investments as if such bonds were denominated in gold. The Fund cannot invest in the Index but attempts to track the performance of the Index by investing in the underlying constituents that comprise the Index Components and by investing in securities that seek to maximize correlation with the Index Components as described below.
The Funds investment strategy is premised on the proposition that an investment in gold can potentially provide a hedge against inflation for a bond investment. Historically, the price of gold has generally risen when inflation was eroding the value of the U.S. dollars purchasing power. Notwithstanding the foregoing, there is no guarantee that the price of gold will move as expected relative to the U.S. dollar, nor is there any guarantee that gold will act as an effective inflation hedge. It is possible that the prices of gold and investment grade corporate bonds may decline at the same time, resulting in a significant decline in the value of the Index.
About the Index
The Index seeks to provide 100% exposure to the U.S. dollar-denominated investment grade corporate bond sector (the Bond Component) plus a gold inflation hedge with a notional value designed to correspond to the value of the Bond Component, with such notional value reset on a monthly basis (the Gold Hedge Component). The Index is rebalanced on the last business day of each month. The Index is intended to have higher returns than an unhedged investment in an equivalent portfolio of corporate bonds in environments where declines in the U.S. dollar correspond to a rise in the price of gold. Conversely, the Index is expected to have lower returns than an unhedged investment in an equivalent portfolio of corporate bonds in environments where increases in the U.S. dollar correspond to a decrease in the price of gold.
The Index, Bond Index, and Gold Hedge Index are owned, calculated, administered and published by Solactive AG (the Index Provider). The Index Provider is not affiliated with the Fund or the Advisor.
Bond Component: The Bond Component is represented by the Solactive USD Investment Grade Corporate Index (the Bond Index). The Bond Index aims to mirror the performance of investment grade corporate bonds issued in U.S. dollars. The Bond Index is composed of U.S. dollar-denominated, domestic and foreign (including emerging market) corporate debt securities. Corporate debt securities that the Bond Index may hold include Rule 144A securities, which are subject to resale restrictions. All constituents of the Bond Index at the time of rebalance must have at least $400 million outstanding, a remaining time to maturity of at least 18 months, and be rated no lower than investment grade (at least BBB- / Baa3) by both Standard & Poors and Moodys. While the Bond Index does not focus on particular economic sectors, industries or group of industries, it may from time to time concentrate its holdings in certain sectors or industries. As of the date of this Prospectus, the Bond Index had significant exposure (over 25% of total assets) to the financials sector and was not concentrated in any one industry.
The Bond Index constituents are weighted according to their respective market values in proportion to the aggregated market value of all constituents in the Bond Index Component. As of the date of this Prospectus, the Bond Index Component is composed of approximately 1600 constituent companies. The Index is rebalanced on the last business day of each month.
Gold Hedge Component: The Gold Hedge Component is represented by the Solactive Gold Front Month MD Rolling Futures Index ER (the Gold Hedge Index). The Gold Hedge Index tracks the performance of the near month gold futures contracts listed on the Chicago Mercantile Exchange. The near month gold future is the futures contract that is closest to expiration. As the futures contracts approach their expiration dates, they are replaced by similar contracts that have a later expiration. This process is referred to as rolling.
Fund Replication of the Index
The Fund uses a representative sampling strategy and total return swaps to replicate the performance of the Bond Index. Under normal conditions, the Fund will invest at least 80% of its net assets (plus borrowings for investment purposes) directly, or indirectly through total return swaps, in bonds. Representative sampling is an indexing strategy that involves investing in a representative sample of securities that collectively has an investment profile similar to that of an applicable underlying index. The Fund may or may not hold all of the securities that comprise the Bond Index and may not track the Bond Index with the same degree of accuracy as would an investment vehicle replicating the entire Bond Index. The Fund may invest in securities that are not included in the Bond Index when Rational Advisors, Inc., the Funds investment advisor (the Advisor) believes investing in such securities would help the Fund track the Bond Index. The bond portion of the Funds portfolio is expected to have, in the aggregate, investment characteristics (such as market capitalization and industry weightings), fundamental characteristics (such as return variability, duration, maturity, credit ratings and yield) and liquidity measures similar to the securities that comprise the Bond Index. The Advisor primarily focuses on duration, yield, sector, and liquidity to determine investments. In addition to direct investments in bonds, the Fund will invest in total return swap contracts that seek to track the performance of the Bond Index in order to achieve a cumulative 100% notional exposure to the Bond Index.
The Fund seeks to gain exposure to the Gold Hedge Index by investing in total return swaps on one or more underlying pools that invest directly or indirectly in gold and/or in futures contracts on gold. Such investments will be made indirectly through the Funds Subsidiary (as described below). To the extent that the Fund invests in gold futures, the contracts used will be the same as the contracts in the Gold Hedge Index. The Funds investments in rolling futures contracts may be subject to additional costs related to contract rolling. Further dated futures contracts may have higher prices than nearer months due to factors including, but not limited to, seasonality, storage costs, and insurance costs. If the market for further-dated contracts is higher than in the nearer months, the Fund will incur a cost to roll the futures contract as the sale of the near-term contract would be at a lower price than the longer-term contract. The difference in the price of the near and distant contracts determines the extent to which the Fund will incur additional costs related to rolling its contracts.
The Subsidiary will also hold cash and cash equivalents such as treasury securities as collateral for the Funds futures contract and total return swap investments.
It is expected that approximately 80%-90% of the Funds assets will be invested in the Bond Component and approximately 10% - 20% will be invested in the Gold Hedge Component (including cash and cash equivalents held as collateral). Futures contracts and total return swaps do not require up-front payments equal to the economic exposure represented by such instruments, which enables the Fund to obtain approximately 100% exposure to the Bond Component, with a corresponding 100% exposure to the Gold Hedge Component. There is no guarantee that the price of gold will move as expected relative to the U.S. dollar, nor is there any guarantee that gold will act as an effective inflation hedge. The Funds investment in gold futures contracts could cause the Fund to underperform an unhedged investment grade corporate bond index strategy. The Funds 100% exposure to each Component could lead to significant losses if the prices of gold and investment grade corporate bonds decline at the same time.
The Fund will concentrate its investments in a particular industry or group of industries to the extent that the Index concentrates in an industry or group of industries. The Fund is classified as non-diversified for purposes of the Investment Company Act of 1940 (the 1940 Act), which means a relatively high percentage of the Funds assets may be invested in the securities of a limited number of issuers.
Investments in Subsidiary – The Advisor executes a portion of the Funds strategy by investing up to 25% of the Funds total assets in a wholly owned and controlled subsidiary (the Subsidiary). The Subsidiary invests the majority of its assets in gold futures contracts and total return swaps. The Subsidiary is subject to the same investment restrictions as the Fund, when viewed on a consolidated basis. The Subsidiary is SSGBI Fund Limited, a Cayman Islands company. The Subsidiary is advised by the Advisor.
Distribution Policy: In order to allow shareholders of the Fund to realize a predictable, but not assured, level of cash flow, the Fund has adopted a policy (which may be modified at any time by its Board of Trustees) to pay monthly distributions on Fund shares at a specific target rate to be determined at the discretion of management. Shareholders receiving periodic payments from the Fund may be under the impression that they are receiving net profits. However, all or a portion of a distribution may consist of a return of capital. Shareholders should not assume that the source of a distribution from the Fund is net profit. For more information about the Funds distribution policy, please turn to Additional Information About the Funds Principal Investment Strategies and Related Risks – Principal Investment Strategies –Distribution Policy and Goals section in the Funds Prospectus.
GOLY - Performance
Return Ranking - Trailing
Period | GOLY Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 20.4% | N/A | N/A | N/A |
1 Yr | 21.6% | N/A | N/A | N/A |
3 Yr | 1.8%* | N/A | N/A | N/A |
5 Yr | N/A* | N/A | N/A | N/A |
10 Yr | N/A* | N/A | N/A | N/A |
* Annualized
Return Ranking - Calendar
Period | GOLY Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 9.3% | N/A | N/A | N/A |
2022 | -21.8% | N/A | N/A | N/A |
2021 | N/A | N/A | N/A | N/A |
2020 | N/A | N/A | N/A | N/A |
2019 | N/A | N/A | N/A | N/A |
Total Return Ranking - Trailing
Period | GOLY Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 20.4% | N/A | N/A | N/A |
1 Yr | 21.6% | N/A | N/A | N/A |
3 Yr | 1.8%* | N/A | N/A | N/A |
5 Yr | N/A* | N/A | N/A | N/A |
10 Yr | N/A* | N/A | N/A | N/A |
* Annualized
Total Return Ranking - Calendar
Period | GOLY Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 10.5% | N/A | N/A | N/A |
2022 | -21.8% | N/A | N/A | N/A |
2021 | N/A | N/A | N/A | N/A |
2020 | N/A | N/A | N/A | N/A |
2019 | N/A | N/A | N/A | N/A |
GOLY - Holdings
Concentration Analysis
GOLY | Category Low | Category High | GOLY % Rank | |
---|---|---|---|---|
Net Assets | 8.02 M | N/A | N/A | N/A |
Number of Holdings | 36 | N/A | N/A | N/A |
Net Assets in Top 10 | 1.13 M | N/A | N/A | N/A |
Weighting of Top 10 | 27.30% | N/A | N/A | N/A |
Top 10 Holdings
- ANHEUSER BUSCH COS LLC 2.99%
- VERIZON COMMUNICATIONS INC 2.84%
- EQUINIX INC 2.83%
- CITIGROUP INC 2.81%
- WELLS FARGO CO 2.78%
- WALT DISNEY CO THE 2.72%
- BOEING CO THE 2.68%
- JPMORGAN CHASE CO 2.67%
- GOLDMAN SACHS GROUP INC 2.54%
- AMAZON COM INC 2.46%
Asset Allocation
Weighting | Return Low | Return High | GOLY % Rank | |
---|---|---|---|---|
Bonds | 72.80% | N/A | N/A | N/A |
Cash | 25.02% | N/A | N/A | N/A |
Other | 2.17% | N/A | N/A | N/A |
Stocks | 0.00% | N/A | N/A | N/A |
Preferred Stocks | 0.00% | N/A | N/A | N/A |
Convertible Bonds | 0.00% | N/A | N/A | N/A |
Bond Sector Breakdown
Weighting | Return Low | Return High | GOLY % Rank | |
---|---|---|---|---|
Derivative | 2.17% | N/A | N/A | N/A |
Cash & Equivalents | 0.00% | N/A | N/A | N/A |
Securitized | 0.00% | N/A | N/A | N/A |
Corporate | 0.00% | N/A | N/A | N/A |
Municipal | 0.00% | N/A | N/A | N/A |
Government | 0.00% | N/A | N/A | N/A |
Bond Geographic Breakdown
Weighting | Return Low | Return High | GOLY % Rank | |
---|---|---|---|---|
US | 72.80% | N/A | N/A | N/A |
Non US | 0.00% | N/A | N/A | N/A |
GOLY - Expenses
Operational Fees
GOLY Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.79% | N/A | N/A | N/A |
Management Fee | 0.79% | N/A | N/A | N/A |
12b-1 Fee | N/A | N/A | N/A | N/A |
Administrative Fee | N/A | N/A | N/A | N/A |
Sales Fees
GOLY Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | N/A | N/A | N/A |
Deferred Load | N/A | N/A | N/A | N/A |
Trading Fees
GOLY Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | N/A | N/A | 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.
GOLY Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | N/A | N/A | N/A | N/A |
GOLY - Distributions
Dividend Yield Analysis
GOLY | Category Low | Category High | GOLY % Rank | |
---|---|---|---|---|
Dividend Yield | 5.23% | N/A | N/A | N/A |
Dividend Distribution Analysis
GOLY | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly |
Net Income Ratio Analysis
GOLY | Category Low | Category High | GOLY % Rank | |
---|---|---|---|---|
Net Income Ratio | N/A | N/A | N/A | N/A |
Capital Gain Distribution Analysis
GOLY | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency |
Distributions History
Date | Amount | Type |
---|---|---|
Dec 12, 2024 | $0.105 | OrdinaryDividend |
Nov 13, 2024 | $0.031 | ReturnOfCapital |
Nov 13, 2024 | $0.102 | OrdinaryDividend |
Oct 11, 2024 | $0.104 | OrdinaryDividend |
Sep 13, 2024 | $0.102 | OrdinaryDividend |
Aug 13, 2024 | $0.068 | OrdinaryDividend |
Jul 12, 2024 | $0.011 | ReturnOfCapital |
Jul 12, 2024 | $0.055 | OrdinaryDividend |
Jun 13, 2024 | $0.010 | ReturnOfCapital |
Jun 13, 2024 | $0.054 | OrdinaryDividend |
Apr 11, 2024 | $0.066 | OrdinaryDividend |
Mar 13, 2024 | $0.063 | OrdinaryDividend |
Jan 12, 2024 | $0.059 | OrdinaryDividend |
Dec 13, 2023 | $0.057 | OrdinaryDividend |
Nov 13, 2023 | $0.055 | OrdinaryDividend |
Oct 12, 2023 | $0.052 | OrdinaryDividend |
Aug 11, 2023 | $0.048 | OrdinaryDividend |