Syntax Stratified MidCap ETF
Name
As of 04/23/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
1.3%
1 yr return
14.1%
3 Yr Avg Return
1.7%
5 Yr Avg Return
N/A
Net Assets
$10.9 M
Holdings in Top 10
10.1%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 0.45%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 50.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
N/A
IRA
N/A
Fund Classification
Fund Type
Exchange Traded Fund
Name
As of 04/23/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
SMDY - Profile
Distributions
- YTD Total Return 1.3%
- 3 Yr Annualized Total Return 1.7%
- 5 Yr Annualized Total Return N/A
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 0.77%
- Dividend Yield 1.1%
- Dividend Distribution Frequency None
Fund Details
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Legal NameSyntax Stratified MidCap ETF
-
Fund Family NameSyntax
-
Inception DateJan 01, 2015
-
Shares Outstanding250000
-
Share ClassN/A
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CurrencyUSD
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Domiciled CountryUS
-
ManagerJames Wolfe
Fund Description
The Fund seeks to track its performance to the Index. The Fund employs a replication strategy, which means that the Fund typically invests in substantially all of the securities represented in the Index in approximately the same proportions as the Index. The Index, which was created by Syntax, LLC (“Syntax” or the “Index Provider”), an affiliate of the Adviser, is the Stratified-Weight™ version, as described below, of the broad-based S&P MidCap 400 Index and holds the same constituents as the S&P MidCap 400 Index. The S&P MidCap 400 Index may include some constituent stocks of companies that may be considered small, medium and large capitalization companies. Under normal market conditions, the Fund invests substantially all, and at least 95%, of its total assets in the securities comprising the Index. The Fund may from time to time own securities that are not included in the Index and may hold securities that are not in a stratified weight exposure if the Adviser deems it in the interest of the Fund.
Syntax’s Stratified-Weight™ is the weighting methodology by which Syntax diversifies its indices by hierarchically grouping and distributing the weight of an index’s constituent companies that share “Related Business Risks.” Related Business Risk occurs when two or more companies provide similar products and/or services or share economic relationships such as having common suppliers, customers or competitors. The process of identifying, grouping, and diversifying holdings across Related Business Risk groups within an index is called stratification, and was designed to correct for business risk concentrations that regularly occur in capitalization-weighted indices and equal-weighted indices. Capitalization weighting can cause an investor’s ownership to accumulate in the largest, most momentum-driven companies and industries, while equal weighting is intended to permit an investor’s ownership to accumulate in the industries that have the most company representatives in the index. Instead of concentrating in the largest companies or the most represented industries, Syntax diversifies (or stratifies) index weight across a fixed number of business risk groups in a manner designed to provide a diversified exposure to all of the business opportunities of an index. The Related Business Risk groups are: Consumer Products & Services; Energy; Financials; Food; Industrials; Information; Information Tools; and Healthcare.
Under normal market conditions, the Index rebalances quarterly on the third Friday of each quarter-ending month and will typically include 400 components allocated across the above-described Related Business Risk groups. The Index is reconstituted at the time the S&P MidCap 400 Index does the same, which is conducted on an ongoing basis. The market capitalization of companies in the S&P MidCap 400 Index as of December 31, 2022 was between $1.7 billion and $30.5 billion The assets in the Fund are managed by Vantage Consulting Group (the “Sub-Adviser”).
Please see the Additional Strategies Information section of the Prospectus for more information on the Syntax Stratified Weight methodology.
SMDY - Performance
Return Ranking - Trailing
Period | SMDY Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 1.3% | -13.2% | 18.5% | 86.26% |
1 Yr | 14.1% | -3.5% | 42.5% | 68.96% |
3 Yr | 1.7%* | -22.6% | 15.9% | 68.27% |
5 Yr | N/A* | -1.5% | 19.9% | 50.83% |
10 Yr | N/A* | 2.2% | 12.7% | 52.87% |
* Annualized
Return Ranking - Calendar
Period | SMDY Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 16.1% | -12.9% | 28.8% | 23.20% |
2022 | -13.6% | -52.6% | 20.1% | 13.37% |
2021 | 18.8% | -43.8% | 32.4% | 27.84% |
2020 | N/A | -10.6% | 82.1% | N/A |
2019 | N/A | -8.5% | 37.5% | N/A |
Total Return Ranking - Trailing
Period | SMDY Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 1.3% | -13.2% | 18.5% | 86.26% |
1 Yr | 14.1% | -3.5% | 42.5% | 68.96% |
3 Yr | 1.7%* | -22.6% | 15.9% | 68.27% |
5 Yr | N/A* | -1.5% | 19.9% | N/A |
10 Yr | N/A* | 2.2% | 12.7% | N/A |
* Annualized
Total Return Ranking - Calendar
Period | SMDY Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 17.3% | 1.2% | 31.3% | 28.73% |
2022 | -12.7% | -45.7% | 21.1% | 25.35% |
2021 | 21.7% | -30.2% | 52.8% | 70.74% |
2020 | N/A | -8.4% | 84.3% | N/A |
2019 | N/A | 1.0% | 43.4% | N/A |
SMDY - Holdings
Concentration Analysis
SMDY | Category Low | Category High | SMDY % Rank | |
---|---|---|---|---|
Net Assets | 10.9 M | 728 K | 160 B | 96.75% |
Number of Holdings | 401 | 1 | 2609 | 19.78% |
Net Assets in Top 10 | 1.14 M | 155 K | 11.7 B | 98.64% |
Weighting of Top 10 | 10.11% | 3.4% | 100.0% | 77.17% |
Top 10 Holdings
- Coty Inc 1.80%
- Scotts Miracle-Gro Co/The 1.77%
- Amkor Technology Inc 0.86%
- Doximity Inc 0.85%
- NCR Voyix Corp 0.82%
- Arrowhead Pharmaceuticals Inc 0.82%
- Frontier Communications Parent Inc 0.81%
- Cable One Inc 0.80%
- Ziff Davis Inc 0.79%
- Qualys Inc 0.78%
Asset Allocation
Weighting | Return Low | Return High | SMDY % Rank | |
---|---|---|---|---|
Stocks | 99.82% | 14.60% | 104.46% | 14.36% |
Cash | 0.18% | 0.00% | 30.96% | 85.64% |
Preferred Stocks | 0.00% | 0.00% | 14.30% | 36.31% |
Other | 0.00% | -1.04% | 23.02% | 52.03% |
Convertible Bonds | 0.00% | 0.00% | 1.78% | 36.31% |
Bonds | 0.00% | 0.00% | 62.14% | 40.38% |
Stock Sector Breakdown
Weighting | Return Low | Return High | SMDY % Rank | |
---|---|---|---|---|
Technology | 16.57% | 0.00% | 40.65% | 39.95% |
Consumer Cyclical | 16.19% | 2.49% | 46.48% | 13.86% |
Industrials | 13.85% | 0.00% | 45.89% | 69.84% |
Healthcare | 13.65% | 0.00% | 24.06% | 14.95% |
Financial Services | 11.79% | 0.00% | 46.10% | 77.72% |
Consumer Defense | 8.11% | 0.00% | 32.18% | 11.68% |
Real Estate | 5.33% | 0.00% | 25.82% | 69.29% |
Communication Services | 4.60% | 0.00% | 30.98% | 12.50% |
Energy | 3.64% | 0.00% | 58.13% | 71.47% |
Utilities | 3.16% | 0.00% | 18.97% | 58.15% |
Basic Materials | 3.11% | 0.00% | 16.35% | 85.33% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | SMDY % Rank | |
---|---|---|---|---|
US | 99.82% | 14.60% | 104.46% | 10.57% |
Non US | 0.00% | 0.00% | 19.95% | 46.34% |
SMDY - Expenses
Operational Fees
SMDY Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.45% | 0.03% | 35.91% | 84.70% |
Management Fee | 0.45% | 0.00% | 1.50% | 24.25% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.01% | 0.30% | N/A |
Sales Fees
SMDY Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 3.50% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 4.00% | N/A |
Trading Fees
SMDY 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.
SMDY Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 50.00% | 0.00% | 304.00% | 55.45% |
SMDY - Distributions
Dividend Yield Analysis
SMDY | Category Low | Category High | SMDY % Rank | |
---|---|---|---|---|
Dividend Yield | 1.05% | 0.00% | 30.24% | 48.24% |
Dividend Distribution Analysis
SMDY | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | None | Annual | Quarterly | Annual |
Net Income Ratio Analysis
SMDY | Category Low | Category High | SMDY % Rank | |
---|---|---|---|---|
Net Income Ratio | 0.77% | -2.06% | 3.38% | 28.61% |
Capital Gain Distribution Analysis
SMDY | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Dec 21, 2023 | $0.436 | OrdinaryDividend |
Dec 22, 2022 | $0.359 | OrdinaryDividend |
Dec 28, 2020 | $0.301 | OrdinaryDividend |
SMDY - Fund Manager Analysis
Managers
James Wolfe
Start Date
Tenure
Tenure Rank
Dec 29, 2017
4.42
4.4%
Mr. Wolfe currently serves as portfolio manager. He has held a variety of positions since joining Vantage in 1988 including trader, operations manager, and systems developer specializing in quantitative modeling, and he is currently head trader. Mr. Wolfe received his BA from Virginia Wesleyan College in 1983 and an MBA from the College of William and Mary in 1989.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.25 | 38.44 | 7.24 | 5.78 |