Kelly Hotel & Lodging Sector ETF
ETF
HOTL
Price as of:
$14.62
+ $0.01
+ 0.09%
Primary Theme
N/A
fund company
N/A
Name
As of 11/30/2023Price
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
16.0%
1 yr return
6.8%
3 Yr Avg Return
N/A
5 Yr Avg Return
N/A
Net Assets
$716 K
Holdings in Top 10
67.4%
52 WEEK LOW AND HIGH
$14.6
$12.45
$15.48
Expenses
OPERATING FEES
Expense Ratio 0.78%
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 11/30/2023Price
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
HOTL - Profile
Distributions
- YTD Total Return 16.0%
- 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
- Dividend Yield 0.0%
- Dividend Distribution Frequency None
Fund Details
-
Legal NameKelly Hotel & Lodging Sector ETF
-
Fund Family NameN/A
-
Inception DateJan 13, 2022
-
Shares OutstandingN/A
-
Share ClassN/A
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerDustin Lewellyn
Fund Description
The Fund employs a “passive management” (or indexing) investment approach designed to track the total return performance, before fees and expenses, of the Index. The Index is based on a proprietary methodology developed and maintained by Strategic Indexes, LLC (the “Index Provider”), an affiliate of Kelly Strategic Management, LLC, the Fund’s investment adviser (the “Adviser”). Unlike many investment companies, the Fund does not try to “beat” the Index and does not seek temporary defensive positions when markets decline or appear overvalued other than those indicated in the Index.
The Fund will generally use a “replication” strategy to achieve its investment objective, meaning the Fund will generally invest in all of the component securities of the Index in the same approximate 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 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 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 smaller number of issuers than if it were a diversified fund.
The Index
The Index is a rules-based index that consists of the stocks or corresponding depositary receipts of companies engaged in the creation, development, production, operation, provision, distribution, servicing, licensing, leasing or franchising of at least one of the following (Hotel and Lodging Business”):
| Hotel & Lodging Services | (i) Hotel and lodging management services or operational services or (ii) provide franchising services for hotel, motel, lodging, residential, or timeshare properties, including lodging platform services (e.g., global marketplaces for private accommodations including online marketplaces for discovering and booking private or shared accommodations). |
| Hotel & Lodging Operations | Hotels, motels, lodges, resorts, timeshare properties, or real estate. |
Construction of the Index begins with equity securities listed on an exchange in a developed country. Companies are then considered for inclusion in the Index based on an analysis of the company’s source of revenues and profits. A company is eligible for inclusion in the Index if, according to a public filing, it generates a majority of its revenue or profits from one of the activities described above (“Hotel and Lodging Companies”). The Index Provider screens for the source of a company’s revenues and profits using information in regulatory filings (e.g., financial statements, annual reports, investor presentations), analyst reports, and industry-specific trade publications.
Equity securities included in the Index include common stocks, real estate investment trusts (“REITs”), depositary receipts, and preferred stocks. As of October 31, 2022, companies listed in the following countries were eligible for inclusion in the Index: Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Ireland, Israel, Italy, Japan, Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland, the United Kingdom, and the United States. Eligible Companies identified by the Index Provider are added to the Index, subject to meeting the investibility requirements described below. The Index may include small-, mid-, and large-capitalization companies. The Index is subject to a maximum of 60 constituents. Where the number of eligible constituents exceeds the maximum allowable, the Fund will rank the constituents by float adjusted market capitalization and take the largest constituents until it has reached the maximum number allowed.
At the time of each quarterly rebalance and reconstitution of the Index, Index constituents must meet investibility requirements, including:
•a market capitalization of at least $300 million;
•a 3-month average daily traded value greater than or equal to $1 million;
•a free float (i.e., the proportion of shares that are publicly available) of at least 20%; and
•a trading price of not greater than $50,000.
The Index is reconstituted and rebalanced (i.e., companies are added or deleted and weights are reset based on Index rules) quarterly, after the close of business on the third Friday of each of March, June, September, and December (the “Rebalance Date”). For each rebalance and reconstitution of the Index, Index constituents are determined based on data as of the last business day in each of February, May, August, and November (the “Selection Date”). As of each rebalance date, each constituent is market capitalization-weighted, subject to a maximum of 10% weight and a minimum of 0.25% weight for each constituent. Any weight removed from an index’s constituents due to a limit is combined, and the combined weight then distributed proportionately (according to their index weighting) across the uncapped constituents of the index.The Fund rebalances its portfolio in accordance with its Index, and, therefore, any changes to the Index’s rebalance schedule will result in corresponding changes to the Fund’s rebalance schedule.
As of September 30, 2022, the Index had 44 constituents, 7 of which were listed on a non-U.S. exchange. The Index was established in 2021 and is owned by the Index Provider.
The Fund’s Investment Strategy
Under normal circumstances, the Fund invests at least 80% of its net assets (plus borrowings for investment purposes) in Hotel and Lodging Companies. The foregoing policy may be changed without shareholder approval upon 60 days’ written notice to shareholders.
To the extent the Index concentrates (i.e., holds more than 25% of its total assets) in any industry or group of related industries, the Fund will concentrate its investments to approximately the same extent as the Index. As of September 30, 2022, the Index was concentrated in companies in the hotel and lodging industries.
HOTL - Performance
Return Ranking - Trailing
| Period | HOTL Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 16.0% | -25.0% | 16.3% | N/A |
| 1 Yr | 6.8% | -31.8% | 19.9% | N/A |
| 3 Yr | N/A* | -4.6% | 21.0% | N/A |
| 5 Yr | N/A* | -1.9% | 12.2% | N/A |
| 10 Yr | N/A* | 1.1% | 14.3% | N/A |
* Annualized
Return Ranking - Calendar
| Period | HOTL Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | N/A | -55.7% | 29.4% | N/A |
| 2022 | N/A | -13.5% | 24.4% | N/A |
| 2021 | N/A | -3.6% | 31.0% | N/A |
| 2020 | N/A | -6.6% | 10.4% | N/A |
| 2019 | N/A | -7.1% | 5.8% | N/A |
Total Return Ranking - Trailing
| Period | HOTL Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 16.0% | -41.3% | 16.3% | N/A |
| 1 Yr | 6.8% | -31.8% | 19.9% | N/A |
| 3 Yr | N/A* | -4.6% | 21.0% | N/A |
| 5 Yr | N/A* | -1.9% | 12.2% | N/A |
| 10 Yr | N/A* | 3.7% | 14.3% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | HOTL Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | N/A | -55.7% | 29.4% | N/A |
| 2022 | N/A | -13.5% | 24.4% | N/A |
| 2021 | N/A | -3.6% | 31.0% | N/A |
| 2020 | N/A | -6.6% | 10.4% | N/A |
| 2019 | N/A | -7.1% | 5.8% | N/A |
HOTL - Holdings
Concentration Analysis
| HOTL | Category Low | Category High | HOTL % Rank | |
|---|---|---|---|---|
| Net Assets | 716 K | 979 K | 16.1 B | 96.30% |
| Number of Holdings | 38 | 25 | 327 | 74.07% |
| Net Assets in Top 10 | 494 K | 431 K | 11.1 B | 96.30% |
| Weighting of Top 10 | 67.44% | 13.6% | 74.1% | 9.26% |
Top 10 Holdings
- Marriott International Inc/MD 11.27%
- Airbnb Inc 11.16%
- Hilton Worldwide Holdings Inc 10.14%
- VICI Properties Inc 9.27%
- InterContinental Hotels Group PLC 4.84%
- Hyatt Hotels Corp 4.39%
- Whitbread PLC 4.30%
- Gaming and Leisure Properties Inc 4.12%
- Host Hotels Resorts Inc 3.98%
- Wyndham Hotels Resorts Inc 3.97%
Asset Allocation
| Weighting | Return Low | Return High | HOTL % Rank | |
|---|---|---|---|---|
| Stocks | 98.81% | 77.53% | 100.38% | 62.96% |
| Cash | 1.19% | -0.37% | 22.47% | 37.04% |
| Preferred Stocks | 0.00% | 0.00% | 0.00% | 7.41% |
| Other | 0.00% | -2.11% | 0.43% | 12.96% |
| Convertible Bonds | 0.00% | 0.00% | 0.04% | 9.26% |
| Bonds | 0.00% | 0.00% | 0.42% | 9.26% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | HOTL % Rank | |
|---|---|---|---|---|
| Utilities | 0.00% | 0.00% | 6.10% | 9.26% |
| Technology | 0.00% | 0.00% | 56.29% | 66.67% |
| Real Estate | 0.00% | 0.00% | 38.79% | 1.85% |
| Industrials | 0.00% | 0.00% | 42.91% | 68.52% |
| Healthcare | 0.00% | 0.00% | 13.27% | 42.59% |
| Financial Services | 0.00% | 0.00% | 7.31% | 22.22% |
| Energy | 0.00% | 0.00% | 1.00% | 9.26% |
| Communication Services | 0.00% | 0.00% | 93.76% | 83.33% |
| Consumer Defense | 0.00% | 0.00% | 29.70% | 74.07% |
| Consumer Cyclical | 0.00% | 0.00% | 97.08% | 66.67% |
| Basic Materials | 0.00% | 0.00% | 7.13% | 16.67% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | HOTL % Rank | |
|---|---|---|---|---|
| US | 81.02% | 26.30% | 99.97% | 64.81% |
| Non US | 17.79% | 0.00% | 73.67% | 35.19% |
HOTL - Expenses
Operational Fees
| HOTL Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.78% | 0.08% | 2.44% | 29.63% |
| Management Fee | 0.78% | 0.03% | 0.85% | 83.33% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.03% | 0.25% | N/A |
Sales Fees
| HOTL 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
| HOTL 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.
| HOTL Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | N/A | 4.00% | 214.00% | N/A |
HOTL - Distributions
Dividend Yield Analysis
| HOTL | Category Low | Category High | HOTL % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.00% | 0.00% | 3.30% | 50.00% |
Dividend Distribution Analysis
| HOTL | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | None | Annually | Quarterly | Annually |
Net Income Ratio Analysis
| HOTL | Category Low | Category High | HOTL % Rank | |
|---|---|---|---|---|
| Net Income Ratio | N/A | -1.54% | 2.70% | N/A |
Capital Gain Distribution Analysis
| HOTL | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Semi-Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Sep 25, 2023 | $0.046 | OrdinaryDividend |
| Jun 26, 2023 | $0.050 | OrdinaryDividend |
| Mar 27, 2023 | $0.018 | OrdinaryDividend |
| Dec 27, 2022 | $0.080 | OrdinaryDividend |
| Jun 28, 2022 | $0.030 | OrdinaryDividend |
HOTL - Fund Manager Analysis
Managers
Dustin Lewellyn
Start Date
Tenure
Tenure Rank
Jan 12, 2022
0.38
0.4%
Dustin Lewellyn, CFA. Mr. Lewellyn has extensive background in institutional investment process with a specific focus on exchange-traded funds (“ETFs”). Mr. Lewellyn was a portfolio manager at BGI (now part of Blackrock), and he managed a number of international equity funds. Dustin also was head of ETF product management and product development at Northern Trust where he oversaw the build out and management of all areas of a new ETF business, including primary responsibility for the portfolio management process surrounding the ETFs. Mr. Lewellyn also built and ran a new ETF business for Charles Schwab, including having primary responsibility for the technology and investment process to support portfolio management for the ETFs. Mr. Lewellyn started a consulting business with a focus on ETFs and helped numerous new ETF sponsors, as well as service providers, understand the resource requirements to participate in the industry utilizing current best practices. Mr. Lewellyn holds a B.A. from University of Iowa and is a CFA Charterholder. He also holds security licenses 7, 63, 66 and 24.
Ernesto Tong
Start Date
Tenure
Tenure Rank
Jan 12, 2022
0.38
0.4%
Mr. Tong has been a managing director with Penserra since 2015. Prior to joining Penserra, Mr. Tong spent seven years as a vice president at Blackrock, where he was a portfolio manager for a number of the iShares ETFs, and prior to that, he spent two years in the firm’s index research group.
Anand Desai
Start Date
Tenure
Tenure Rank
Jan 12, 2022
0.38
0.4%
Anand Desai. Mr. Desai has been an Associate with Penserra since 2015. Prior to joining the Penserra Capital Management, LLC, Mr. Desai was a portfolio fund accountant at State Street for five years.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.31 | 24.18 | 12.19 | 14.22 |