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Name

As of 11/04/2024

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

ClearShares Ultra-Short Maturity ETF

OPER | Active ETF

$100.18

$165 M

5.39%

$5.40

0.20%

Vitals

YTD Return

4.6%

1 yr return

5.4%

3 Yr Avg Return

3.8%

5 Yr Avg Return

2.5%

Net Assets

$165 M

Holdings in Top 10

100.0%

52 WEEK LOW AND HIGH

$100.2
$100.01
$100.59

Expenses

OPERATING FEES

Expense Ratio 0.20%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 0.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

N/A

IRA

N/A

Fund Classification

Fund Type

Exchange Traded Fund

Name

As of 11/04/2024

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

ClearShares Ultra-Short Maturity ETF

OPER | Active ETF

$100.18

$165 M

5.39%

$5.40

0.20%

OPER - Profile

Distributions

  • YTD Total Return 4.6%
  • 3 Yr Annualized Total Return 3.8%
  • 5 Yr Annualized Total Return 2.5%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 0.42%
DIVIDENDS
  • Dividend Yield 5.4%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    ClearShares Ultra-Short Maturity ETF
  • Fund Family Name
    ClearShares
  • Inception Date
    Jul 10, 2018
  • Shares Outstanding
    2000000
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Frank Codey

Fund Description

The Fund is an actively managed exchange-traded fund (“ETF”) that seeks to achieve its investment objective primarily by investing in repurchase agreements collateralized by U.S. government securities. The Fund is not a money market fund and does not seek to maintain a stable net asset value (“NAV”) of $1.00 per share.
A repurchase agreement is an agreement under which the Fund acquires a financial instrument (e.g., a security issued by the U.S. government or an agency thereof) from a seller. At the time of purchase, the seller (usually a commercial bank, broker, or dealer) agrees to repurchase the underlying security at a mutually agreed-upon price on a designated future date (normally, the next business day). The securities acquired by the Fund pursuant to repurchase agreement transactions will generally have a total value (including accrued interest earned thereon) in excess of the repurchase agreement’s value and will be held by the Fund’s custodian until the securities are repurchased. As a result, repurchase agreements may be considered a loan collateralized by securities.
The Fund may also invest in U.S. government securities, such as U.S. Treasuries and U.S. agency securities, which may include mortgage-backed securities (“MBS”) issued or guaranteed by the U.S. government, federal agencies, or U.S. government sponsored instrumentalities, such as the Government National Mortgage Administration (“Ginnie Mae”), the Federal Housing Administration (“FHA”), the Federal National Mortgage Association (“Fannie Mae”) and the Federal Home Loan Mortgage Corporation (“Freddie Mac”).
The effective duration of the Fund’s portfolio will be one year or less, and the dollar-weighted average maturity of the Fund’s portfolio will be less than one year. Effective duration is a measure of the Fund’s price sensitivity to changes in yields or interest rates and a higher duration indicates greater sensitivity to interest rates. Weighted average maturity refers to the length of time until a bond’s principal is repaid with interest.
The Fund’s portfolio may also include cash and cash equivalents, as well as investments in ETFs and other investment companies that provide exposure to securities similar to those securities in which the Fund may invest in directly. While the Fund will invest, under normal circumstances, in a conservative, liquid portfolio, the Fund may invest up to 15% of net assets in illiquid investments, including illiquid repurchase agreements.
Read More

OPER - Performance

Return Ranking - Trailing

Period OPER Return Category Return Low Category Return High Rank in Category (%)
YTD 4.6% -0.9% 7.1% 69.95%
1 Yr 5.4% 2.6% 9.3% 75.59%
3 Yr 3.8%* -1.4% 6.8% 14.63%
5 Yr 2.5%* -1.0% 4.5% 38.95%
10 Yr N/A* -4.2% 27.9% 17.07%

* Annualized

Return Ranking - Calendar

Period OPER Return Category Return Low Category Return High Rank in Category (%)
2023 0.0% -2.3% 4.3% 94.37%
2022 0.0% -6.5% 0.5% 2.43%
2021 0.0% -2.1% 0.3% 6.50%
2020 0.0% -3.1% 1.8% 68.75%
2019 -0.8% -1.2% 6.1% 95.60%

Total Return Ranking - Trailing

Period OPER Return Category Return Low Category Return High Rank in Category (%)
YTD 4.6% -0.9% 7.1% 69.95%
1 Yr 5.4% 2.6% 9.3% 75.59%
3 Yr 3.8%* -1.4% 6.8% 14.63%
5 Yr 2.5%* -1.0% 4.5% 38.95%
10 Yr N/A* -4.2% 27.9% N/A

* Annualized

Total Return Ranking - Calendar

Period OPER Return Category Return Low Category Return High Rank in Category (%)
2023 5.1% 0.8% 12.1% 80.28%
2022 1.8% -5.1% 2.5% 1.94%
2021 0.4% -2.1% 14.5% 24.50%
2020 0.6% -1.0% 3.6% 89.58%
2019 1.3% 0.3% 9.6% 95.60%

OPER - Holdings

Concentration Analysis

OPER Category Low Category High OPER % Rank
Net Assets 165 M 26.3 K 22.6 B 82.63%
Number of Holdings 6 2 1258 97.65%
Net Assets in Top 10 145 M 27.7 K 22.7 B 54.46%
Weighting of Top 10 99.97% 6.3% 159.6% 3.76%

Top 10 Holdings

  1. Cantor Fitzgerald Co. 9/10/24 5.50% 41.31%
  2. Cantor Fitzgerald Co. 9/13/24 5.50% 34.42%
  3. Marex Capital Markets Inc. 9/3/24 5.48% 10.46%
  4. Clear Street LLC 9/4/24 5.49% 6.88%
  5. Marex Capital Markets Inc. 9/6/24 5.48% 6.88%
  6. First American Government Obligations Fund 0.01%

Asset Allocation

Weighting Return Low Return High OPER % Rank
Other 		99.96% -13.48% 99.96% 0.47%
Cash 		0.04% 0.00% 112.72% 96.71%
Stocks 		0.00% 0.00% 97.16% 52.58%
Preferred Stocks 		0.00% 0.00% 0.00% 42.72%
Convertible Bonds 		0.00% 0.00% 15.25% 87.26%
Bonds 		0.00% 0.00% 129.63% 98.12%

OPER - Expenses

Operational Fees

OPER Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.20% 0.08% 29.63% 90.00%
Management Fee 0.20% 0.00% 1.19% 26.76%
12b-1 Fee 0.00% 0.00% 1.00% 13.25%
Administrative Fee N/A 0.01% 0.40% N/A

Sales Fees

OPER Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.50% 5.75% N/A
Deferred Load N/A 0.25% 1.00% N/A

Trading Fees

OPER Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.00% 1.00% 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.

OPER Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 0.00% 0.00% 336.00% 1.12%

OPER - Distributions

Dividend Yield Analysis

OPER Category Low Category High OPER % Rank
Dividend Yield 5.39% 0.00% 8.76% 19.25%

Dividend Distribution Analysis

OPER Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Quarterly Monthly Monthly

Net Income Ratio Analysis

OPER Category Low Category High OPER % Rank
Net Income Ratio 0.42% -1.30% 14.86% 56.59%

Capital Gain Distribution Analysis

OPER Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Monthly Annually

Distributions History

View More +

OPER - Fund Manager Analysis

Managers

Frank Codey

Start Date

Tenure

Tenure Rank

Jun 30, 2019

2.92

2.9%

Mr. Codey joined in the Adviser in 2019. Mr. Codey has served since 2013 as the President of The Colt Group, LLC providing financial consulting services in the areas of prime brokerage and clearing, operations, business acceleration, data analytics, robotic process automation, sales segmentation, and market positioning. Previously, he was the President of Equinox Group Distributors, a FINRA-regulated broker-dealer and the Chief Operating Officer of Equinox Fund Management, an SEC-registered investment adviser. Mr. Codey has over twenty years of fixed income prime brokerage experience specializing in mortgage and structured products. Mr. Codey received his B.S. in Business with a Finance concentration from Boston University and holds a Master of Science in Analytics degree from Villanova University.

James Fortescue

Start Date

Tenure

Tenure Rank

Dec 03, 2019

2.49

2.5%

Mr. Fortescue has been a senior portfolio manager for ClearShares LLC since 2019 and is a founding partner and Chief Executive Officer of Piton Investment Management (“Piton”). He has over twenty years of experience building, operating and managing companies, investment portfolios and relationships in the financial services space. Prior to founding Piton in 2014, Mr. Fortescue most recently served as the Chief Operating Officer at Annaly Capital Management, Inc. (“Annaly”). He began his career at Annaly in 1995 and served there until 2014 in various roles including Head of Liabilities, Chief of Staff, Managing Director, Executive Vice President and was a member of Annaly’s Executive, Operations, and Risk Committees. Mr. Fortescue served on a Financial Stability Board panel in front of the G-20 at the Federal Reserve Bank of New York, a Markets Stability panel in front of the US Treasury Department and the Risk Management Association Securities Lending and Borrowing Legal & Regulatory Round Table. He received his B.S. in Finance from Siena College and attended the New York Institute of Finance for intense mortgage-backed securities studies.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 32.44 6.52 7.92

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