Main Sector Rotation ETF
Name
As of 12/20/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
19.9%
1 yr return
19.7%
3 Yr Avg Return
8.8%
5 Yr Avg Return
13.5%
Net Assets
$2.01 B
Holdings in Top 10
92.0%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 0.77%
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 12/20/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
SECT - Profile
Distributions
- YTD Total Return 19.9%
- 3 Yr Annualized Total Return 8.8%
- 5 Yr Annualized Total Return 13.5%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 0.88%
- Dividend Yield 1.4%
- Dividend Distribution Frequency None
Fund Details
-
Legal NameMain Sector Rotation ETF
-
Fund Family NameAnchor Funds
-
Inception DateSep 05, 2017
-
Shares Outstanding24850000
-
Share ClassN/A
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerJ. Richard Fredericks
Fund Description
The Fund utilizes a “fund of funds” structure to invest in sector-based equity exchange traded funds (“ETFs”). The Fund seeks to achieve its objective through dynamic sector rotation. The Fund’s adviser, Main Management ETF Advisors, LLC (the “Adviser”), focuses its research primarily on sector selection by carefully reviewing the sectors, industries, and sub-industries in the Fund’s portfolio. The Adviser chooses sectors it believes are undervalued and poised to respond favorably to financial market catalysts. The Fund sells a security when it achieves its target price and is, in the opinion of the Adviser, no longer undervalued. The Fund may overweight or underweight a sector or sectors relative to the Fund’s benchmark based on valuation. The Fund may invest in securities of any market capitalization or country and denominated in any currency.
The Fund is an actively managed ETF and does not seek to replicate the performance of a specified index. In selecting investments for the Fund’s portfolio, the Adviser adheres to the investment process described below.
Assessing Market Conditions. The Adviser determines the Fund’s target sector allocations by analyzing market sectors and their underlying industries and sub-industries. The Adviser uses the Global Industry Classification Standard (“GICS”) in its sector analysis. GICS sectors include: energy, materials, industrials, consumer discretionary, consumer staples, healthcare, financials, information technology, communication services, utilities, and real estate. The Adviser analyzes economic growth forecasts, inflation trends, and other macroeconomic and capital market fundamentals over a 6-18 month time horizon. The Adviser identifies opportunities for near-term growth in value that are facilitated by events or changes within sectors that its research has identified as “undervalued.”
Identifying the Appropriate ETFs. The Adviser then seeks to identify the most appropriate U.S. sector ETFs to implement its strategic asset allocation and sector views by evaluating various factors in the respective ETFs including their respective underlying indexes and portfolio holdings, sector exposure and weightings, liquidity profiles, and tracking error.
Option Strategy. The Fund may from time to time incorporate a covered call option writing strategy. Covered call option writing is an investment strategy of writing (selling) call options against securities owned by the Fund to generate additional returns from the option premium. The Fund may also seek returns by writing (selling) secured put options. A “put option” is an option contract that gives the owner the right to sell the underlying security at a specified price (the strike price) until its expiration at a fixed date in the future. The Fund seeks to achieve risk-adjusted returns through targeted allocations by analyzing interest and currency rates, inflation trends, economic growth forecasts, and other global and capital market fundamentals. The Fund’s option strategy may also have the benefit of reducing the volatility of the Fund’s portfolio in comparison to that of broad equity market indexes.
The Fund pursues its options strategy by writing (selling) covered call or index-based options on an amount from 0% to 100% of the value of the ETF shares in the Fund’s portfolio. The Fund seeks to earn income and gains both from dividends paid on the ETFs owned by the Fund and cash premiums received from writing or “selling”:
· | covered call options or index-based options on equity-based ETFs held in the Fund’s portfolio; and |
· | cash secured put options against cash balances in the Fund. |
The Fund may not sell “naked” put or call options, i.e., equity options representing more shares of an ETF than the Fund has cash on hand and available to purchase or index options greater than the value of the underlying security. Stock index options are put options and call options on various stock indices. The primary difference between stock options and index options occurs when index options are exercised. In the case of stock options, the underlying security, common stock, is delivered. However, upon the exercise of an index option, settlement does not occur by delivery of the securities comprising the index. The option holder exercising the index option receives an amount of cash if the closing level of the stock index upon which the option is based is greater than, in the case of a call, or less than, in the case of a put, the exercise price of the option. This amount of cash is equal to the difference between the closing price of the stock index and the exercise price of the option expressed in dollars times a specified multiple. A stock index fluctuates with changes in the market value of the stocks included in the index. A call option on a security is a contract that gives the holder of the option, in return for a premium, the right, but not the obligation, to buy from the writer of the option the security underlying the option at a specified exercise or “strike” price by or before the contract’s expiration. A put option on a security is a contract that gives the holder of the option, in return for a premium, the right to sell to the writer of the option the security underlying the option at a specified exercise or “strike” price. The writer of an option on a security has the obligation upon exercise of the option to purchase the underlying security at the exercise price.
The Fund may seek investment exposure to shares of bitcoin ETFs that are registered with the SEC. Under normal circumstances, no more than 15% of the Fund’s assets may be invested directly in bitcoin ETFs.
SECT - Performance
Return Ranking - Trailing
Period | SECT Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 19.9% | -6.6% | 42.5% | 58.49% |
1 Yr | 19.7% | -6.2% | 59.7% | 64.31% |
3 Yr | 8.8%* | -5.0% | 17.0% | 44.71% |
5 Yr | 13.5%* | -2.4% | 108.5% | 43.61% |
10 Yr | N/A* | 2.0% | 52.4% | 78.39% |
* Annualized
Return Ranking - Calendar
Period | SECT Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 20.0% | -42.6% | 47.4% | 43.56% |
2022 | -13.6% | -56.3% | -4.2% | 7.20% |
2021 | 28.0% | -27.2% | 537.8% | 3.57% |
2020 | 13.5% | -22.5% | 2181.7% | 38.92% |
2019 | 27.0% | -13.5% | 40.4% | 27.90% |
Total Return Ranking - Trailing
Period | SECT Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 19.9% | -6.6% | 42.5% | 58.49% |
1 Yr | 19.7% | -6.2% | 59.7% | 64.31% |
3 Yr | 8.8%* | -5.0% | 17.0% | 44.71% |
5 Yr | 13.5%* | -2.4% | 108.5% | 43.61% |
10 Yr | N/A* | 2.0% | 52.4% | N/A |
* Annualized
Total Return Ranking - Calendar
Period | SECT Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 21.1% | -5.0% | 47.4% | 67.83% |
2022 | -12.8% | -36.8% | -2.2% | 16.49% |
2021 | 28.9% | 3.0% | 537.8% | 19.81% |
2020 | 15.6% | -15.8% | 2266.0% | 58.25% |
2019 | 28.1% | -0.4% | 241.3% | 68.95% |
SECT - Holdings
Concentration Analysis
SECT | Category Low | Category High | SECT % Rank | |
---|---|---|---|---|
Net Assets | 2.01 B | 2.34 M | 1.84 T | 43.79% |
Number of Holdings | 19 | 2 | 3963 | 98.26% |
Net Assets in Top 10 | 1.65 B | 880 K | 525 B | 31.95% |
Weighting of Top 10 | 92.04% | 0.3% | 111.6% | 2.08% |
Top 10 Holdings
- ISHARES SP MID- 15.25%
- INVESCO QQQ TRUS 14.53%
- SPDR-COMM SERV 13.92%
- SPDR-TECH SEL S 10.76%
- V/E SEMICONDUCT 9.58%
- SPDR SP REG BAN 8.32%
- VANGUARD ENERG E 5.30%
- ISHARES BIOTECHN 4.82%
- ISHARES CORE SP 4.80%
- SPDR-HEALTH CARE 4.78%
Asset Allocation
Weighting | Return Low | Return High | SECT % Rank | |
---|---|---|---|---|
Stocks | 100.86% | 0.00% | 105.79% | 0.50% |
Cash | 0.62% | 0.00% | 99.07% | 60.10% |
Preferred Stocks | 0.00% | 0.00% | 2.15% | 96.27% |
Convertible Bonds | 0.00% | 0.00% | 5.54% | 95.85% |
Bonds | 0.00% | 0.00% | 93.85% | 96.03% |
Other | -1.48% | -13.91% | 100.00% | 99.92% |
Stock Sector Breakdown
Weighting | Return Low | Return High | SECT % Rank | |
---|---|---|---|---|
Technology | 26.82% | 0.00% | 48.94% | 14.59% |
Healthcare | 21.82% | 0.00% | 52.29% | 4.47% |
Financial Services | 17.15% | 0.00% | 55.59% | 17.20% |
Energy | 13.06% | 0.00% | 41.64% | 1.52% |
Consumer Cyclical | 6.37% | 0.00% | 30.33% | 88.79% |
Communication Services | 5.55% | 0.00% | 27.94% | 83.05% |
Industrials | 3.77% | 0.00% | 29.90% | 98.23% |
Consumer Defense | 2.37% | 0.00% | 47.71% | 95.45% |
Real Estate | 1.33% | 0.00% | 31.91% | 78.84% |
Utilities | 0.95% | 0.00% | 20.91% | 76.98% |
Basic Materials | 0.81% | 0.00% | 25.70% | 91.15% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | SECT % Rank | |
---|---|---|---|---|
US | 100.86% | 0.00% | 105.79% | 0.41% |
Non US | 0.00% | 0.00% | 63.83% | 96.36% |
SECT - Expenses
Operational Fees
SECT Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.77% | 0.01% | 19.75% | 52.50% |
Management Fee | 0.50% | 0.00% | 1.90% | 49.83% |
12b-1 Fee | 0.00% | 0.00% | 1.00% | 18.32% |
Administrative Fee | N/A | 0.00% | 0.85% | N/A |
Sales Fees
SECT Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 1.00% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
SECT 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.
SECT Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | N/A | 0.00% | 268.00% | 84.60% |
SECT - Distributions
Dividend Yield Analysis
SECT | Category Low | Category High | SECT % Rank | |
---|---|---|---|---|
Dividend Yield | 1.37% | 0.00% | 25.47% | 70.21% |
Dividend Distribution Analysis
SECT | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | None | Annual | Quarterly | Annual |
Net Income Ratio Analysis
SECT | Category Low | Category High | SECT % Rank | |
---|---|---|---|---|
Net Income Ratio | 0.88% | -54.00% | 2.44% | 39.85% |
Capital Gain Distribution Analysis
SECT | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Semi-Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Dec 19, 2024 | $0.191 | OrdinaryDividend |
Sep 19, 2024 | $0.007 | OrdinaryDividend |
Mar 21, 2024 | $0.049 | OrdinaryDividend |
Dec 21, 2023 | $0.139 | OrdinaryDividend |
Sep 21, 2023 | $0.077 | OrdinaryDividend |
Jun 22, 2023 | $0.118 | OrdinaryDividend |
Mar 23, 2023 | $0.057 | OrdinaryDividend |
Dec 22, 2022 | $0.119 | OrdinaryDividend |
Sep 22, 2022 | $0.049 | OrdinaryDividend |
Jun 23, 2022 | $0.101 | OrdinaryDividend |
Mar 24, 2022 | $0.063 | OrdinaryDividend |
Dec 22, 2021 | $0.057 | OrdinaryDividend |
Sep 23, 2021 | $0.032 | OrdinaryDividend |
Jun 24, 2021 | $0.082 | OrdinaryDividend |
Mar 25, 2021 | $0.096 | OrdinaryDividend |
Sep 23, 2020 | $0.036 | OrdinaryDividend |
Jun 24, 2020 | $0.237 | OrdinaryDividend |
Mar 25, 2020 | $0.208 | OrdinaryDividend |
Dec 23, 2019 | $0.046 | OrdinaryDividend |
Sep 25, 2019 | $0.046 | OrdinaryDividend |
Jun 26, 2019 | $0.086 | OrdinaryDividend |
Mar 27, 2019 | $0.059 | OrdinaryDividend |
Dec 26, 2018 | $0.240 | CapitalGainShortTerm |
Sep 26, 2018 | $0.056 | OrdinaryDividend |
Jun 20, 2018 | $0.086 | OrdinaryDividend |
Mar 21, 2018 | $0.026 | OrdinaryDividend |
Dec 26, 2017 | $0.088 | OrdinaryDividend |
Oct 04, 2017 | $0.049 | OrdinaryDividend |
SECT - Fund Manager Analysis
Managers
J. Richard Fredericks
Start Date
Tenure
Tenure Rank
Sep 05, 2017
4.74
4.7%
J. Richard Fredericks is a founding partner of Main Management, LLC. He currently serves as a Managing Director and is a member of the Investment Committee. He began his career with Dean Witter in 1970 as a securities analyst. In 1977, he joined Montgomery Securities (now Banc of America Securities) as a partner and later Senior Managing Director in Investment Research, covering the banking and financial service area. For 17 consecutive years, Mr. Fredericks was chosen by Institutional Investor Magazine as an “All-American” Research Analyst, covering the commercial banking industry. In 1995, Mr. Fredericks formally changed roles to oversee the firm’s investment banking effort for the financial industry. Mr. Fredericks served as United States Ambassador to both Switzerland and Liechtenstein from 1999 to 2001. Mr. Fredericks currently is on the Board of Directors of Janus Corporation; the Library of Congress Trust Fund Board; the Board of Directors of Cadence Bancorp LLC; member of the Board of Trustees at Loyola University of Maryland; the Advisory Board of Financial Technology Ventures; the Board of Chambers & Chambers Wine Merchants; and as a grower and Board Member for Turley Wine Cellars.
Kim Arthur
Start Date
Tenure
Tenure Rank
Sep 05, 2017
4.74
4.7%
Kim D. Arthur. Mr. Arthur is a founding partner of Main Management, LLC, Main Management Fund Advisors, LLC’s parent company. He has served as CEO of Main Management, LLC since 2002 and as CEO and portfolio manager of the Adviser since 2015. In 2009 he was recognized by Institutional Investor Magazine as a “Rising Star” of Foundations and Endowments. Mr. Arthur began his financial career in 1987 in institutional sales marketing U.S. equities to Japanese institutions. He was promoted to managing director of institutional sales, and advanced to the transitional head of International Sales for Banc of America Securities. Mr. Arthur has also led an institutional sales and trading department overseeing 60 sales traders in 6 cities, managed the equity product marketing team, and served on the Investment Policy Committee and the Executive Management Committee at Banc of America Securities.
James Concidine
Start Date
Tenure
Tenure Rank
Sep 05, 2017
4.74
4.7%
James W. Concidine is a founding partner of Main Management, LLC. He currently serves as a Managing Director of Main Management Fund Advisors, LLC and is a member of the Investment Committee. Mr. Concidine began his career in the financial services industry in 1970 as a stock broker working with retail clients from 1970-1978. When the CBOE opened in April 1973, he began to specialize in conservative covered call writing strategies, and worked in institutional sales where he was responsible for U.S. equity sales to institutional accounts in the United Kingdom. Mr. Concidine led an International Institutional Sales Team. Since 1995, he has served as Chief Investment Officer for a large San Francisco family office where his duties include manager selection and asset allocation.
Alex Varner
Start Date
Tenure
Tenure Rank
Dec 31, 2021
0.41
0.4%
Alex Varner joined Main Management full-time in July of 2012. He serves as Director of Research where his focus includes generating a variety of analytical reports for the firm’s Investment Committee. He interned with Main during the summer of 2011 while working towards his MBA from UNC’s Kenan-Flagler Business School, with a concentration in Investment Management, which was attained in May 2012. He grew up in San Rafael, California and received a Bachelor of Arts degree from Davidson College. Prior to business school Alex worked as a paralegal in capital markets at Hunton & Williams,
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.04 | 39.02 | 7.29 | 2.42 |