CP High Yield Trend ETF
Name
As of 03/27/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
1.2%
1 yr return
9.8%
3 Yr Avg Return
-0.1%
5 Yr Avg Return
N/A
Net Assets
$6.95 M
Holdings in Top 10
99.5%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 2.92%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 255.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
N/A
IRA
N/A
Fund Classification
Fund Type
Exchange Traded Fund
Name
As of 03/27/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
HYTR - Profile
Distributions
- YTD Total Return 1.2%
- 3 Yr Annualized Total Return -0.1%
- 5 Yr Annualized Total Return N/A
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 3.28%
- Dividend Yield 5.3%
- Dividend Distribution Frequency None
Fund Details
-
Legal NameCP High Yield Trend ETF
-
Fund Family NameCounterpoint Mutual Funds
-
Inception DateJan 21, 2020
-
Shares Outstanding425000
-
Share ClassN/A
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerJoseph Engelberg
Fund Description
The Fund seeks to achieve its investment objective by investing at least 80% of its net assets in securities included in the Index. The rules-based index is comprised of constituents that are a blend of allocations to two asset classes: U.S. high yield corporate bond exchange-traded funds (“ETFs”) and U.S. 3-7 year Treasury ETFs. The Index also includes a stop loss mechanism on the U.S. 3-7 year Treasuries that allows the Index to invest in U.S. T-bill ETFs.
The Adviser sponsors and creates the Index using an active trading strategy and Solactive, A.G. (the “Index Provider”), who has contracted with the Adviser, calculates and publishes the Index. The Index’s constituents are weighted using two quantitative models to determine allocations to U.S. high yield corporate bond ETFs and U.S. 3-7 year Treasury ETFs or U.S. T-bill ETFs when the Index is rebalanced, which can occur daily. The Index is composed of U.S. high yield corporate bond ETFs of any maturity or duration in 20% increments with the remainder in U.S. 3-7 year Treasury ETFs or U.S. T-bill ETFs.
The first of the two quantitative models determines a recommended allocation to U.S. high yield corporate bonds ETFs by evaluating(i) the current market price against the average price of the Index’s corporate bond component over time adjusted for dividends (i.e., the moving average price) and (ii) the historical momentum returns of that component for the same periods. The model gives greater weight to the moving average price signals than it does to the historical momentum signals and uses a mathematical formula to
determine a recommended allocation to high yield corporate bonds.
The second quantitative model adjusts the first model’s recommended allocation by rounding the allocation to the nearest 20% increment, but only allows the final allocation to U.S. high yield corporate bonds to move by a 20% increment day-over-day. The final allocation remains unchanged if the rounded allocation from the second model varies by more than 5% from the recommended allocation of the first model.
The Fund generally replicates the Index, but may decline to follow the Index when, in the Adviser’s judgment, it would be advantageous to do so. For example, the Fund may deviate from the Index if the Adviser believes that shifts in the models’ recommended allocations are only temporary, or if the Adviser determines that specific securities are mispriced and identifies U.S. high yield corporate bond ETFs or U.S. 3-7 year Treasury ETFs that the Adviser perceives to have the potential to provide better returns than the Index’s constituents.
HYTR - Performance
Return Ranking - Trailing
Period | HYTR Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 1.2% | -4.9% | 8.2% | 61.78% |
1 Yr | 9.8% | -4.3% | 26.0% | 84.19% |
3 Yr | -0.1%* | -15.6% | 20.6% | 90.85% |
5 Yr | N/A* | -11.2% | 37.3% | 9.03% |
10 Yr | N/A* | -4.7% | 19.5% | 9.09% |
* Annualized
Return Ranking - Calendar
Period | HYTR Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 2.5% | -4.7% | 14.3% | 94.41% |
2022 | -12.4% | -33.4% | 3.6% | 15.20% |
2021 | -1.0% | -8.4% | 14.9% | 80.59% |
2020 | N/A | -13.9% | 302.7% | N/A |
2019 | N/A | -4.4% | 13.3% | N/A |
Total Return Ranking - Trailing
Period | HYTR Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 1.2% | -4.9% | 8.2% | 61.78% |
1 Yr | 9.8% | -4.3% | 26.0% | 84.19% |
3 Yr | -0.1%* | -15.6% | 20.6% | 90.85% |
5 Yr | N/A* | -11.2% | 37.3% | N/A |
10 Yr | N/A* | -4.7% | 19.5% | N/A |
* Annualized
Total Return Ranking - Calendar
Period | HYTR Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 8.3% | -4.7% | 18.7% | 92.86% |
2022 | -11.3% | -33.4% | 47.8% | 64.73% |
2021 | 2.7% | -8.4% | 24.8% | 90.54% |
2020 | N/A | -9.6% | 325.6% | N/A |
2019 | N/A | -3.8% | 21.5% | N/A |
HYTR - Holdings
Concentration Analysis
HYTR | Category Low | Category High | HYTR % Rank | |
---|---|---|---|---|
Net Assets | 6.95 M | 1.85 M | 22.6 B | 99.54% |
Number of Holdings | 3 | 2 | 2736 | 99.85% |
Net Assets in Top 10 | 5.85 M | -492 M | 4.45 B | 93.06% |
Weighting of Top 10 | 99.54% | 4.2% | 149.6% | 0.77% |
Top 10 Holdings
- ISHARES BROAD USD HIGH YI 39.47%
- ISHARES IBOXX HIGH YLD CO 30.05%
- SPDR BLOOMBERG H 30.02%
Asset Allocation
Weighting | Return Low | Return High | HYTR % Rank | |
---|---|---|---|---|
Stocks | 99.54% | 0.00% | 99.61% | 0.31% |
Cash | 0.46% | -52.00% | 49.49% | 91.20% |
Preferred Stocks | 0.00% | 0.00% | 8.06% | 61.27% |
Other | 0.00% | -63.70% | 102.57% | 58.49% |
Convertible Bonds | 0.00% | 0.00% | 17.89% | 95.52% |
Bonds | 0.00% | -3.13% | 154.38% | 98.46% |
Stock Sector Breakdown
Weighting | Return Low | Return High | HYTR % Rank | |
---|---|---|---|---|
Utilities | 0.00% | 0.00% | 100.00% | 48.57% |
Technology | 0.00% | 0.00% | 33.17% | 40.88% |
Real Estate | 0.00% | 0.00% | 86.71% | 46.37% |
Industrials | 0.00% | 0.00% | 93.12% | 56.70% |
Healthcare | 0.00% | 0.00% | 22.17% | 43.30% |
Financial Services | 0.00% | 0.00% | 100.00% | 59.78% |
Energy | 0.00% | 0.00% | 100.00% | 0.22% |
Communication Services | 0.00% | 0.00% | 99.99% | 57.80% |
Consumer Defense | 0.00% | 0.00% | 100.00% | 44.62% |
Consumer Cyclical | 0.00% | 0.00% | 100.00% | 51.65% |
Basic Materials | 0.00% | 0.00% | 100.00% | 42.20% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | HYTR % Rank | |
---|---|---|---|---|
US | 99.54% | 0.00% | 99.61% | 0.31% |
Non US | 0.00% | -0.01% | 0.83% | 44.14% |
HYTR - Expenses
Operational Fees
HYTR Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 2.92% | 0.04% | 31.61% | 2.93% |
Management Fee | 0.50% | 0.00% | 1.84% | 32.31% |
12b-1 Fee | 0.00% | 0.00% | 1.00% | 4.38% |
Administrative Fee | N/A | 0.00% | 0.50% | N/A |
Sales Fees
HYTR Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 2.25% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
HYTR 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.
HYTR Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 255.00% | 1.00% | 255.00% | 100.00% |
HYTR - Distributions
Dividend Yield Analysis
HYTR | Category Low | Category High | HYTR % Rank | |
---|---|---|---|---|
Dividend Yield | 5.31% | 0.00% | 35.52% | 74.23% |
Dividend Distribution Analysis
HYTR | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | None | SemiAnnual | Monthly | Monthly |
Net Income Ratio Analysis
HYTR | Category Low | Category High | HYTR % Rank | |
---|---|---|---|---|
Net Income Ratio | 3.28% | -2.39% | 14.30% | 89.95% |
Capital Gain Distribution Analysis
HYTR | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Mar 20, 2024 | $0.105 | OrdinaryDividend |
Feb 21, 2024 | $0.095 | OrdinaryDividend |
Dec 19, 2023 | $0.205 | OrdinaryDividend |
Nov 21, 2023 | $0.053 | OrdinaryDividend |
Oct 24, 2023 | $0.105 | OrdinaryDividend |
Sep 19, 2023 | $0.101 | OrdinaryDividend |
Aug 22, 2023 | $0.099 | OrdinaryDividend |
Jul 18, 2023 | $0.103 | OrdinaryDividend |
Jun 20, 2023 | $0.088 | OrdinaryDividend |
May 23, 2023 | $0.095 | OrdinaryDividend |
Apr 18, 2023 | $0.097 | OrdinaryDividend |
Mar 21, 2023 | $0.112 | OrdinaryDividend |
Feb 21, 2023 | $0.104 | OrdinaryDividend |
Dec 19, 2022 | $0.143 | OrdinaryDividend |
Nov 21, 2022 | $0.033 | OrdinaryDividend |
Oct 24, 2022 | $0.018 | OrdinaryDividend |
Sep 19, 2022 | $0.018 | OrdinaryDividend |
Aug 22, 2022 | $0.014 | OrdinaryDividend |
Jul 18, 2022 | $0.019 | OrdinaryDividend |
May 23, 2022 | $0.015 | OrdinaryDividend |
Dec 20, 2021 | $0.152 | OrdinaryDividend |
Nov 19, 2021 | $0.065 | OrdinaryDividend |
Oct 21, 2021 | $0.071 | OrdinaryDividend |
Sep 20, 2021 | $0.067 | OrdinaryDividend |
Aug 19, 2021 | $0.100 | OrdinaryDividend |
Jul 19, 2021 | $0.074 | OrdinaryDividend |
Jun 21, 2021 | $0.067 | OrdinaryDividend |
May 20, 2021 | $0.071 | OrdinaryDividend |
Apr 19, 2021 | $0.070 | OrdinaryDividend |
Mar 19, 2021 | $0.075 | OrdinaryDividend |
Feb 19, 2021 | $0.072 | OrdinaryDividend |
Dec 21, 2020 | $0.170 | OrdinaryDividend |
Nov 19, 2020 | $0.100 | OrdinaryDividend |
Oct 21, 2020 | $0.071 | OrdinaryDividend |
Sep 21, 2020 | $0.083 | OrdinaryDividend |
Aug 20, 2020 | $0.072 | OrdinaryDividend |
Jul 21, 2020 | $0.025 | OrdinaryDividend |
Jun 19, 2020 | $0.010 | OrdinaryDividend |
May 21, 2020 | $0.011 | OrdinaryDividend |
Apr 21, 2020 | $0.014 | OrdinaryDividend |
Mar 19, 2020 | $0.084 | OrdinaryDividend |
Feb 21, 2020 | $0.096 | OrdinaryDividend |
HYTR - Fund Manager Analysis
Managers
Joseph Engelberg
Start Date
Tenure
Tenure Rank
Jan 22, 2020
2.36
2.4%
Joseph Engelberg has served as Chief Research Officer of Counterpoint Mutual Funds, LLC since 2015. Dr. Engelberg has also been an Associate Professor of Finance at University California San Diego, Rady School of Management since 2011. Prior to joining Counterpoint Mutual Funds, LLC, Dr. Engelberg co-founded Counterpoint Asset Management, LLC in 2012. From 2008 to 2011, Dr. Engelberg was an Assistant Professor of Finance at the Kenan-Flagler Business School at the University of North Carolina at Chapel Hill. He earned his Ph.D. in Finance from the Kellogg School of Management at Northwestern University and earned his B.A. in Mathematics and B.S. in Business Administration from the University of Southern California.
Michael Krause
Start Date
Tenure
Tenure Rank
Jan 22, 2020
2.36
2.4%
Michael Krause is a co-founder of Counterpoint Mutual Funds, LLC. Prior to founding Counterpoint Mutual Funds, LLC in 2014, Mr. Krause co-founded Counterpoint Asset Management, LLC in 2012 to offer quantitative investment strategies to investment clients. Mr. Krause served as a senior financial risk analyst for San Diego Gas & Electric from 2012 until 2014. Mr. Krause is a CFA® charter holder. He obtained an MBA from the Rady School of Management at the University of California at San Diego in 2012 and a Bachelor of Arts in Economics from San Diego State University. Prior to attending San Diego State University, Mr. Krause worked as a computer and information technology consultant and co-founded Exchange Network Services, Inc., an internet service provider, which earned him the Ernst and Young Entrepreneur of the Year, Northeast Ohio regional award in 1998.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.13 | 37.79 | 7.12 | 8.17 |