Procure ETF Trust I - LGBTQ + ESG100 ETF
Name
As of 04/21/2022Price
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
N/A
1 yr return
N/A
3 Yr Avg Return
N/A
5 Yr Avg Return
N/A
Net Assets
$3.38 M
Holdings in Top 10
26.3%
52 WEEK LOW AND HIGH
$26.6
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.75%
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 04/21/2022Price
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
LGBT - Profile
Distributions
- YTD Total Return N/A
- 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 Quarterly
Fund Details
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Legal NameProcure ETF Trust I - LGBTQ + ESG100 ETF
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Fund Family NameProcure ETF Trust I
-
Inception DateN/A
-
Shares OutstandingN/A
-
Share ClassN/A
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CurrencyUSD
-
Domiciled CountryUS
-
ManagerAnand Desai
Fund Description
Under normal circumstances, the Fund seeks to achieve its investment objective by investing at least 80% of its net assets (plus borrowings for investment purposes, exclusive of collateral held from securities lending) in components of the Underlying Index. The Underlying Index is comprised of securities screened to support LGBTQ or ESG positions. The Fund also may invest up to 20% of its assets in instruments other than the components of the Underlying Index, including shares of other investment companies, cash and cash equivalents, as well as in securities not included in the Underlying Index, but which the Fund’s Portfolio Managers believe will help the Fund track the Underlying Index.
The Fund uses a passive management strategy designed to track the performance of the Underlying Index. The Fund intends to replicate the Underlying Index, meaning it intends to invest in substantially all of the Underlying Index components in approximately the same proportions as the Underlying Index. The Fund reserves the right to use a representative sampling strategy to track the performance of the Underlying Index, which involves investing in a representative sample of securities that collectively have an investment profile similar to that of the Underlying Index. The correlation between the Fund’s performance, before fees and expenses, and that of the Underlying Index is expected to be 95% or better over time. A figure of 100% would indicate perfect correlation.
As further discussed below, the Underlying Index represents the top 100 U.S. companies that:
•nurture and promote equality in the workplace for employees of all gender and sexual orientation;
•have a history of consistently strong financial performance; and
•either (1) have a strong track record of loyalty and brand awareness among the US-based LGBTQ community or (2) observe high standards on environmental, social and governance issues.
The Underlying Index represents the top 100 U.S. companies that nurture and promote equality in the workplace for employees of all gender and sexual orientation, have a strong track record of loyalty and brand awareness among the US-based LGBTQ community, and have a history of consistently strong financial performance. The Underlying Index attempts to capture market outperformance of these companies as compared to their competition.
Loyalty Preference Index Inc. (the “Index Provider”) constructs the Underlying Index by starting with an investable universe (the “Index Universe”) first drawn from those Fortune 1000 companies earning a 100% rating according to an annual self-reported survey conducted by a national LGBT advocacy organization. The self-reporting survey seeks to score companies based on three pillars: (1) non-discrimination policies across business entities; (2) equitable benefits for LGBTQ workers and their families; and (3) supporting an inclusive culture and corporate social responsibility. These companies are then screened so that only those that also are among the top 500 publicly-listed U.S. corporations by market capitalization are included in the Index Universe.
The Index Provider, in constructing the Underlying Index, first screens the Index Universe to exclude companies based on their FactSet Revere Business Industry Classification System (“RBICS”) industry involvement in Guns, Tobacco, Pornography, or Weapons of Mass Destruction or that generates over two-thirds of its revenue from the RBICS Gaming industry. The remaining companies are then screened for superior fundamentals, low price volatility and high market liquidity (the “Fundamentals and Liquidity Screening”) as follows:
•six months minimum age of listing;
•average monthly turnover of traded shares for prior 12 months of at least $1.5 billion;
•liquidity of at least 0.2% for nine of the last 12 months as measured by median daily trading volume divided by free float adjusted issued shares (i.e., shares readily available to the market and not held by company insiders); and
•12-month average month end free-float market value at least $7.5 billion.
The companies remaining after the Fundamentals and Liquidity Screening are then further screened for Underlying Index eligibility based on satisfactory scoring for either environmental, social and governance issues (the “ESG Group”) or LGBTQ brand loyalty and support (the “LGBTQ Brand Loyalty & Support Group”). In the case of companies in the RBICS Gaming or Entertainment industries, such companies will only be eligible if they belong to both the ESG Group and the LGBTQ Brand Loyalty & Support Group.
To be eligible for the ESG Group, the constituent’s ESG Rating score - as provided by Institutional Shareholder Services - must be within the top three quartiles for the year. To be eligible for the LGBTQ Brand Loyalty & Support Group, a company must have a composite score, determined by the Underlying Index’s maintenance agent, Fuzzy Logix LLC (“Fuzzy Logix”), greater than the 25th percentile based on the results of a survey conducted by The Harris Poll, a third party.
The Harris Poll surveys the U.S. LGBTQ community with respect of companies that pass Fundamentals and Liquidity Screening for (1) brand awareness, (2) brand image, (3) brand loyalty and (4) LGBTQ community support. The Harris Poll annually surveys approximately 150,000 self-identified members of the approximately 11.5 million member U.S. LGBTQ community. Harris Poll receives completed survey responses that are then used by Fuzzy Logix to determine LGBTQ Brand Loyalty & Support Group eligibility. First, it disregards a respondent’s survey results of a company where no brand awareness is indicated and then ranks companies based on composite scoring for The Harris Poll’s survey results on brand image, brand loyalty and LGBTQ community support. Fuzzy Logix’s methodology renders ineligible for the Underlying Index any company that scores less than the 25th percentile on a Harris Polls question about supporting LGBTQ causes.
The number of Underlying Index components is fixed at 100. All companies deemed eligible for the Underlying Index by ESG Group and/or LGBTQ Brand Loyalty & Support Group membership, as the case may be, are then ranked according to sales growth from highest to lowest growth over the prior one year period. The top two companies of each of the 11 RBICS sectors based on Fuzzy Logix scoring of the LGBTQ Brand Loyalty & Support Group are automatically included in the Underlying Index. The remaining 88 positions are filled by the remaining highest sales growth eligible companies, without regard to RBICS sector, until 100 Underlying Index components have been selected.
Underlying Index components are then weighted by a composite weighting formula that measures inverse of volatility (40%), the free float adjusted market capitalization (30%) and the price to earnings ratio (30%) of each Underlying Index component. This weighting methodology is further subject to the following rules: no single RBICS sector is allowed to represent a combined weight of more than
25% of the Underlying Index; and no individual Underlying Index component is allowed to have a weight greater than 5% of the Underlying Index.
The Underlying Index is reconstituted annually and rebalanced quarterly. As of December 31, 2021, the Underlying Index consisted of 100 securities, which had capitalizations ranging from $11 billion to $2,935 billion, an average market capitalization of $224 billion and a median market capitalization of $85 billion. As of that date, the Underlying Index had significant exposure to the technology sector (24.3%), healthcare sector (17.5%) and finance sector (13.6%). The components of the Underlying Index and the percentages represented by various sectors in the Underlying Index may change overtime. The Fund will concentrate its investments in a particular industry or group of industries (i.e., hold more than 25% of its assets) to approximately the same extent that the Underlying Index is concentrated.
Under normal circumstances, the Fund will invest at least 80% of its total assets, at all times, in LGBTQ Brand Loyalty & Support Group securities and ESG Group securities.
LGBT - Performance
Return Ranking - Trailing
| Period | LGBT Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | N/A | -51.8% | 22.1% | 28.13% |
| 1 Yr | N/A | -60.9% | 46.9% | N/A |
| 3 Yr | N/A* | -26.9% | 192.0% | N/A |
| 5 Yr | N/A* | -29.0% | 93.8% | N/A |
| 10 Yr | N/A* | -17.1% | 37.1% | N/A |
* Annualized
Return Ranking - Calendar
| Period | LGBT Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | N/A | -69.4% | 53.7% | N/A |
| 2022 | N/A | -94.0% | 152.6% | N/A |
| 2021 | N/A | -13.9% | 183.6% | N/A |
| 2020 | N/A | -18.2% | 8.9% | N/A |
| 2019 | N/A | -80.2% | 35.2% | N/A |
Total Return Ranking - Trailing
| Period | LGBT Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | N/A | -97.2% | 22.1% | 15.74% |
| 1 Yr | N/A | -60.9% | 67.6% | N/A |
| 3 Yr | N/A* | -26.9% | 192.0% | N/A |
| 5 Yr | N/A* | -28.0% | 93.8% | N/A |
| 10 Yr | N/A* | -11.8% | 37.1% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | LGBT Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | N/A | -69.4% | 53.7% | N/A |
| 2022 | N/A | -94.0% | 152.6% | N/A |
| 2021 | N/A | -13.9% | 183.6% | N/A |
| 2020 | N/A | -12.8% | 8.9% | N/A |
| 2019 | N/A | -60.0% | 35.2% | N/A |
LGBT - Holdings
Concentration Analysis
| LGBT | Category Low | Category High | LGBT % Rank | |
|---|---|---|---|---|
| Net Assets | 3.38 M | 38 K | 1.21 T | 98.96% |
| Number of Holdings | 101 | 1 | 4154 | 51.06% |
| Net Assets in Top 10 | 890 K | 1.74 K | 270 B | 98.50% |
| Weighting of Top 10 | 26.35% | 1.8% | 100.0% | 80.65% |
Top 10 Holdings
- Tesla Inc 3.60%
- Apple Inc 3.36%
- Amazon.com Inc 3.10%
- Fidelity National Information Services Inc 3.07%
- ServiceNow Inc 3.03%
- Microsoft Corp 2.95%
- ATT Inc 2.49%
- Walt Disney Co/The 1.78%
- Coca-Cola Co/The 1.49%
- UnitedHealth Group Inc 1.47%
Asset Allocation
| Weighting | Return Low | Return High | LGBT % Rank | |
|---|---|---|---|---|
| Stocks | 99.67% | 0.00% | 130.24% | 27.91% |
| Cash | 0.33% | -102.29% | 100.00% | 70.46% |
| Preferred Stocks | 0.00% | 0.00% | 2.23% | 84.68% |
| Other | 0.00% | -13.91% | 134.98% | 84.89% |
| Convertible Bonds | 0.00% | 0.00% | 5.54% | 83.59% |
| Bonds | 0.00% | -0.04% | 95.81% | 83.87% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | LGBT % Rank | |
|---|---|---|---|---|
| Utilities | 0.00% | 0.00% | 25.44% | 5.59% |
| Technology | 0.00% | 0.00% | 48.94% | 55.97% |
| Real Estate | 0.00% | 0.00% | 37.52% | 76.60% |
| Industrials | 0.00% | 0.00% | 29.90% | 97.86% |
| Healthcare | 0.00% | 0.00% | 60.70% | 7.66% |
| Financial Services | 0.00% | 0.00% | 55.59% | 92.06% |
| Energy | 0.00% | 0.00% | 41.64% | 80.47% |
| Communication Services | 0.00% | 0.00% | 27.94% | 60.52% |
| Consumer Defense | 0.00% | 0.00% | 49.14% | 87.65% |
| Consumer Cyclical | 0.00% | 0.00% | 50.47% | 6.83% |
| Basic Materials | 0.00% | 0.00% | 26.10% | 6.07% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | LGBT % Rank | |
|---|---|---|---|---|
| US | 99.67% | 0.00% | 127.77% | 5.31% |
| Non US | 0.00% | 0.00% | 33.51% | 98.64% |
LGBT - Expenses
Operational Fees
| LGBT Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.75% | 0.01% | 3.53% | 47.30% |
| Management Fee | 0.75% | 0.00% | 2.00% | 90.10% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | 23.34% |
| Administrative Fee | N/A | 0.00% | 0.85% | N/A |
Sales Fees
| LGBT 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 | 1.00% | 5.00% | N/A |
Trading Fees
| LGBT Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 0.25% | 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.
| LGBT Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | N/A | 0.00% | 496.00% | N/A |
LGBT - Distributions
Dividend Yield Analysis
| LGBT | Category Low | Category High | LGBT % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.00% | 0.00% | 16.56% | 90.98% |
Dividend Distribution Analysis
| LGBT | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Quarterly | Annually | Monthly | Quarterly |
Net Income Ratio Analysis
| LGBT | Category Low | Category High | LGBT % Rank | |
|---|---|---|---|---|
| Net Income Ratio | N/A | -54.00% | 6.06% | 58.12% |
Capital Gain Distribution Analysis
| LGBT | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Mar 31, 2022 | $0.050 | OrdinaryDividend |
| Jan 03, 2022 | $0.040 | OrdinaryDividend |
| Sep 29, 2021 | $0.041 | OrdinaryDividend |
| Jun 29, 2021 | $0.014 | OrdinaryDividend |
LGBT - Fund Manager Analysis
Managers
Anand Desai
Start Date
Tenure
Tenure Rank
May 17, 2021
0.87
0.9%
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.
Dustin Lewellyn
Start Date
Tenure
Tenure Rank
May 17, 2021
0.87
0.9%
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
May 17, 2021
0.87
0.9%
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.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.04 | 39.02 | 7.12 | 2.42 |