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Name

As of 02/23/2024

Price

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

Nationwide Russell 2000 Risk-Managed Income ETF

NTKI | Active ETF

$19.01

$12.4 M

6.96%

$1.32

0.70%

Vitals

YTD Return

-0.7%

1 yr return

-0.7%

3 Yr Avg Return

N/A

5 Yr Avg Return

N/A

Net Assets

$12.4 M

Holdings in Top 10

101.2%

52 WEEK LOW AND HIGH

$19.0
$17.82
$20.72

Expenses

OPERATING FEES

Expense Ratio 0.70%

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 02/23/2024

Price

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

Nationwide Russell 2000 Risk-Managed Income ETF

NTKI | Active ETF

$19.01

$12.4 M

6.96%

$1.32

0.70%

NTKI - Profile

Distributions

  • YTD Total Return -0.7%
  • 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
DIVIDENDS
  • Dividend Yield 7.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Nationwide Russell 2000 Risk-Managed Income ETF
  • Fund Family Name
    N/A
  • Inception Date
    Dec 16, 2021
  • Shares Outstanding
    N/A
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Curtis Brockelman

Fund Description

The Fund is an actively-managed exchange-traded fund (“ETF”) that seeks to achieve its investment objective principally by investing in (i) the Vanguard Russell 2000 Index Fund ETF Shares (VTWO) (the “Underlying ETF”), which seeks to track the performance of the Russell 2000® Index (the “Russell 2000” or the “Reference Index”) that measures the investment return of U.S.-listed small-capitalization equities, and (ii) an options collar (i.e., a mix of written (sold) call options and long (bought) put options) on the Russell 2000. The Fund seeks to generate high current income on a monthly basis from a combination of the dividends received from the Fund’s Underlying ETF holdings and the premiums earned from the options collar. The options collar seeks to generate a net-credit by receiving premium from the sale of the call options that is greater than the cost of buying the protective put options. The options collar is designed to reduce the Fund’s volatility and provide a measure of downside protection.
The Russell 2000 measures the performance of approximately 2,000 U.S. small capitalization companies. As of September 30, 2023, the Russell 2000 had significant exposure to companies in the financials, health care, and industrials sectors. The Fund, through its investment in the Underlying ETF, will concentrate its investments (i.e., hold more than 25% of its total assets) in a particular industry or group of industries to approximately the same extent that the Reference Index concentrates in an industry or group of industries.
The Fund’s sub-adviser generally utilizes a proprietary, systematic rules-based model to manage the Fund’s options positions in an objective, manner, and the model may signal the written call options should be closed prior to expiration to potentially capture gains and minimize losses due to the movement of the Russell 2000 (e.g., after an increase in the Russell 2000, the model may indicate that the short call should be closed so the Fund can capture more upside potential in the reference asset, or the model may determine most of the premium derived from the sale of the call has been captured due to a falling market).
The Fund’s options collar strategy typically consists of two components: (i) selling call options on the Russell 2000 or another reference asset representing U.S. equity securities on up to 100% of the value of the equity securities held by the Fund to generate premium from such options, while (ii) simultaneously reinvesting a portion of such premium to buy put options on the same reference asset(s) to “hedge” or mitigate the downside risk associated with owning equity securities.
•Call Options. A written (sold) call option gives the seller the obligation to sell shares of the reference asset at a specified price (“strike price”) until a specified date (“expiration date”). The writer (seller) of the call option receives an amount (premium) for writing (selling) the option. In the event the reference asset appreciates above the strike price and the holder exercises the call option, the Fund will have to pay the difference between the value of the reference asset and the strike price or deliver the reference asset (which loss is offset by the premium initially received), and in the event the reference asset declines in value, the call option may end up worthless and the Fund retains the premium. The call options written by the Fund will be collateralized by the Fund’s equity holdings at the time the Fund sells the options.
•Put Options. When the Fund purchases a put option, the Fund pays an amount (premium) to acquire the right to sell shares of a reference asset at a strike price until the expiration date. In the event the reference asset declines in value below the strike price and the Fund exercises its put option, the Fund will be entitled to receive the difference between the value of the reference asset and the strike price (which gain is offset by the premium originally paid by the Fund), and in the event the reference asset closes above the strike price as of the expiration date, the put option may end up worthless and the Fund’s loss is limited to the amount of premium it paid.
The options purchased or sold by the Fund will typically have an expiration date approximately one-month from the time of purchase or sale. Options are rolled the day before option expiration, which is the third Friday of each month. The written calls and purchased puts for the new collar are reset to current market levels. The Fund expects the total value of the call options and the total value of the put options to each be up to 100% of the Fund’s net assets. The Fund will use a portion of the premium received from writing call options to purchase put options. Call options written by the Fund will typically have a strike price that is at, near, or higher than the current price of the reference asset, and put options purchased by the Fund will typically have a strike price that is lower (in some cases, significantly lower) than the current price of the reference asset. In addition, both the call and put options will be traded on a national securities exchange and be settled in cash.
The Fund is considered to be non-diversified, which means that it may invest, including through its investment in the Underlying ETF, more of its assets in the securities of a single issuer or a smaller number of issuers, than if it were a diversified fund.
Under normal circumstances, at least 80% of the Fund’s net assets, plus borrowings for investment purposes, will be invested in securities, or derivative instruments linked to securities, of companies that are included in the Fund’s Reference Index.
Read More

NTKI - Performance

Return Ranking - Trailing

Period NTKI Return Category Return Low Category Return High Rank in Category (%)
YTD -0.7% -21.1% 152.4% 15.63%
1 Yr -0.7% -6.2% 66.6% N/A
3 Yr N/A* -10.5% 23.1% N/A
5 Yr N/A* -3.9% 16.0% N/A
10 Yr N/A* 3.8% 14.4% N/A

* Annualized

Return Ranking - Calendar

Period NTKI Return Category Return Low Category Return High Rank in Category (%)
2023 -1.7% -71.0% 40.4% N/A
2022 -22.5% -51.0% 110.8% N/A
2021 N/A -54.6% 350.1% N/A
2020 N/A -67.3% 5.2% N/A
2019 N/A -62.9% 36.3% N/A

Total Return Ranking - Trailing

Period NTKI Return Category Return Low Category Return High Rank in Category (%)
YTD -0.7% -21.1% 152.4% 19.12%
1 Yr -0.7% -8.2% 80.7% N/A
3 Yr N/A* -11.6% 23.1% N/A
5 Yr N/A* -4.3% 16.0% N/A
10 Yr N/A* 3.8% 14.4% N/A

* Annualized

Total Return Ranking - Calendar

Period NTKI Return Category Return Low Category Return High Rank in Category (%)
2023 5.4% -71.0% 40.4% N/A
2022 -16.9% -51.0% 110.8% N/A
2021 N/A -54.6% 37.8% N/A
2020 N/A -67.1% 7.8% N/A
2019 N/A -62.9% 52.6% N/A

NTKI - Holdings

Concentration Analysis

NTKI Category Low Category High NTKI % Rank
Net Assets 12.4 M 1.4 M 129 B 96.39%
Number of Holdings 13 2 2540 4.17%
Net Assets in Top 10 12.3 M 3 K 4.51 B 97.17%
Weighting of Top 10 101.20% 2.2% 100.0% 72.40%

Top 10 Holdings

  1. Vanguard Russell 2000 ETF 100.29%
  2. Invesco Government Agency Portfolio 0.86%
  3. RUSSELL PUT OPT 12/23 1600 0.05%
  4. Scilex Holding Co 0.00%
  5. Northern US Government Money Market Fund 0.00%
  6. OmniAb Operations Inc 0.00%
  7. RADIUS HEALTH INC CVR 0.00%
  8. RESOLUTE FOREST PRODUCTS 0.00%
  9. ALBIREO PHARMA INC 0.00%

Asset Allocation

Weighting Return Low Return High NTKI % Rank
Stocks 		100.29% 52.35% 100.36% 91.37%
Cash 		0.86% -46.43% 43.00% 8.18%
Preferred Stocks 		0.00% 0.00% 9.01% 48.96%
Convertible Bonds 		0.00% 0.00% 3.88% 47.77%
Bonds 		0.00% 0.00% 37.81% 48.21%
Other 		-1.10% -6.31% 15.44% 49.26%

Stock Sector Breakdown

Weighting Return Low Return High NTKI % Rank
Utilities 		0.00% 0.00% 18.55% 25.08%
Technology 		0.00% 0.00% 52.72% 62.16%
Real Estate 		0.00% 0.00% 23.66% 21.62%
Industrials 		0.00% 3.18% 43.08% 76.73%
Healthcare 		0.00% 0.00% 39.43% 26.73%
Financial Services 		0.00% 0.00% 40.15% 54.35%
Energy 		0.00% 0.00% 24.79% 28.68%
Communication Services 		0.00% 0.00% 15.02% 34.38%
Consumer Defense 		0.00% 0.00% 17.81% 50.45%
Consumer Cyclical 		0.00% 0.00% 46.85% 78.08%
Basic Materials 		0.00% 0.00% 18.28% 62.61%

Stock Geographic Breakdown

Weighting Return Low Return High NTKI % Rank
US 		100.29% 41.38% 100.00% 71.13%
Non US 		0.00% 0.00% 36.42% 69.20%

NTKI - Expenses

Operational Fees

NTKI Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.70% 0.01% 4.53% 75.72%
Management Fee 0.68% 0.00% 4.05% 41.33%
12b-1 Fee N/A 0.00% 1.00% 11.43%
Administrative Fee N/A 0.01% 0.45% N/A

Sales Fees

NTKI 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

NTKI 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.

NTKI Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.20% 339.00% N/A

NTKI - Distributions

Dividend Yield Analysis

NTKI Category Low Category High NTKI % Rank
Dividend Yield 6.96% 0.00% 2.00% 2.08%

Dividend Distribution Analysis

NTKI Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annually Monthly Annually

Net Income Ratio Analysis

NTKI Category Low Category High NTKI % Rank
Net Income Ratio N/A -4.17% 2.67% N/A

Capital Gain Distribution Analysis

NTKI Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Semi-Annually Annually

Distributions History

View More +

NTKI - Fund Manager Analysis

Managers

Curtis Brockelman

Start Date

Tenure

Tenure Rank

Dec 16, 2021

0.45

0.5%

Curtis F. Brockelman, Jr., is President, Chief Risk Officer and Portfolio Manager of Harvest Volatility Management. Prior to founding the Adviser in 2008, Mr. Brockelman was the Founder and Managing Partner of Perch Bay Group, LLC and Perch Bay Partners LLC. While at Perch Bay, Mr. Brockelman was the portfolio manager for Perch Bay Partners Sigma 1, LP, a volatility arbitrage hedge fund trading index options. Prior to Perch Bay, Mr. Brockelman was a Senior Vice President of Investments and a partner in “The Brockelman Group” at Salomon Smith Barney for seven years. Mr. Brockelman received a BA in Economics from Duke University in 1991.

Garrett Paolella

Start Date

Tenure

Tenure Rank

Dec 16, 2021

0.45

0.5%

Joining Harvest in 2018,Garrett Paolella is the Chief Operating Officer for Harvest Volatility Management, LLC , managing firm operations and heading up business development including new business lines and strategies. Garrett served as Managing Director and Head of ETFs at Horizons ETFs Management U.S. where he ran all aspects of the U.S. ETF business. Garret had executive roles as Managing Partner and Chief Executive Officer at Recon Capital Partners from 2012 to 2017. Garrett Paolella is a Managing Director and the Head of ETFs at Horizons ETFs Management (US) LLC (“Horizons ETFs Management U.S.”) where he runs all aspects of the U.S. exchange traded fund business. He is a member of the Horizons U.S. Board, Officer of the U.S. business, and member of the firm’s Investment Committee. Prior to selling Recon Capital Advisors to Horizons ETFs Management U.S., Mr. Paolella had dual roles as Managing Partner and Chief Executive Officer where he dedicated his time to effectively running firm operations and developing new business lines and strategies. Additionally, Mr. Paolella ran Recon Capital’s Investment Committee, was a portfolio manager for the firm’s closed end funds, and built the retail investment business focusing on family offices. Previously, Mr. Paolella served as an Executive Director at MKM Partners, a research, sales and trading firm based in Stamford, CT. Mr. Paolella was an institutional sales and execution trader from 2008–2012, where his primary focus was on U.S. and international trading of equities and options. Prior to working on the sales and trading desk, Mr. Paolella worked with the macro research team at MKM Partners. Mr. Paolella has his series 7, 55, 63, and 65 security licenses. He received his Bachelor of Science Degree in Finance, Magna Cum Laude, from the Gabelli School of Business at Roger Williams University. Mr. Paolella serves as Chairman of the Center for Advanced Financial Education (CAFÉ) Advisory Board at the Mario J. Gabelli School of Business, and is President of the Horizons ETF Trust I, which oversees the Horizons ETF family of funds.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.01 49.28 6.75 2.25

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