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Name

As of 11/22/2024

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

Vident U.S. Bond Strategy ETF

VBND | ETF

$43.42

$421 M

3.85%

$1.67

0.41%

Vitals

YTD Return

1.7%

1 yr return

7.1%

3 Yr Avg Return

-1.7%

5 Yr Avg Return

-0.1%

Net Assets

$421 M

Holdings in Top 10

31.6%

52 WEEK LOW AND HIGH

$43.4
$42.44
$45.31

Expenses

OPERATING FEES

Expense Ratio 0.41%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 238.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

N/A

IRA

N/A

Fund Classification

Fund Type

Exchange Traded Fund

Name

As of 11/22/2024

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

Vident U.S. Bond Strategy ETF

VBND | ETF

$43.42

$421 M

3.85%

$1.67

0.41%

VBND - Profile

Distributions

  • YTD Total Return 1.7%
  • 3 Yr Annualized Total Return -1.7%
  • 5 Yr Annualized Total Return -0.1%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.55%
DIVIDENDS
  • Dividend Yield 3.8%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Vident U.S. Bond Strategy ETF
  • Fund Family Name
    Vident Financial
  • Inception Date
    Oct 15, 2014
  • Shares Outstanding
    7900000
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Jim Iredale

Fund Description

The Fund employs a “passive management” – or indexing – investment approach designed to track the performance of the Index.
The Vident Core U.S. Bond IndexTM
The Vident Core U.S. Bond IndexTM seeks to improve the overall mix of credit quality, interest rate and yield as compared to traditional U.S. core bond indices. The Index diversifies interest rate and credit risks across all core U.S. bond sectors, including U.S. Treasuries, U.S. agency securities, U.S. agency mortgage-backed securities (“MBS”), and investment-grade corporate bonds, as well as non-core fixed income sectors such as high-yield corporate bonds (also known as “junk bonds”) and Treasury Inflation-Protected Securities (“TIPS”). While diversification among sectors is an important factor that will drive the risk/return profile of the strategy, another source of risk management is derived from the rules-based process that systematically over- or under-weights each sector based on valuations of each sector, historical relative valuations across sectors, sector default rates, and other quantitative factors. Within the investment grade and high yield corporate sectors, the strategy seeks to improve corporate bond exposures by screening for companies with relatively stronger leadership, governance, and creditworthiness factors. Within each sector, individual bonds are weighted based on a combination of yield, duration (i.e., interest rate sensitivity), creditworthiness, leadership, and governance factors, rather than amount of debt/bonds outstanding. The Index also seeks to improve liquidity by eliminating small issues and non-U.S. issuers.
The Index limits exposure to each of the high-yield corporate bonds and TIPS sectors to 20% and 15% of the Index, respectively. The Index will generally have an effective duration of three to seven years and will generally have an average credit quality of investment grade.
All rules are systematized and rely on data available at the end of each rebalancing period. The Index is rebalanced monthly and reconstituted quarterly in January, April, July, and October. As of December 1, 2023, the Index was comprised of 203 component securities.
The Index was created on November 30, 2015 by Vident Financial, LLC, the former parent company of Vident Asset Management (“Vident” or the “Adviser”) for use by the Fund. The Adviser now also serves as the U.S. Bond ETF’s index provider.
The Fund’s Investment Strategy
Under normal circumstances, at least 80% of the net assets, plus borrowings for investment purposes, of the Fund will be invested in debt instruments that are principally traded in the United States.
The Fund attempts to invest all, or substantially all, of its assets in the bonds that make up the Index. The Fund expects to use a “replication” strategy to achieve its investment objective, meaning it may invest in all of the component securities of the Index, but may, when the adviser believes it is in the best interests of the Fund, use a “representative sampling” strategy, meaning it may invest in a sample of the securities in the Index whose risk, return and other characteristics closely resemble the risk, return and other characteristics of the Index as a whole.
The Fund may utilize the “To Be Announced” (“TBA”) market for MBS investments. The TBA market allows investors to gain exposure to MBS with certain broad characteristics (maturity, coupon, age) without taking delivery of the actual securities until the settlement day which is once every month. In addition, the Fund may utilize the TBA roll market, in which one sells, in the TBA market, the security for current month settlement, while simultaneously committing to buy the same TBA security for next month settlement. The Fund may utilize the TBA roll market for extended periods of time without taking delivery of the physical securities.
To the extent the Index concentrates (i.e., holds more than 25% of its total assets) in the securities of a particular industry or group of related industries, the Fund will concentrate its investments to approximately the same extent as the Index.
Read More

VBND - Performance

Return Ranking - Trailing

Period VBND Return Category Return Low Category Return High Rank in Category (%)
YTD 1.7% -6.4% 11.1% 64.37%
1 Yr 7.1% -2.5% 16.8% 39.32%
3 Yr -1.7%* -9.8% 27.7% 28.13%
5 Yr -0.1%* -7.5% 58.4% 53.60%
10 Yr 1.3%* -2.9% 73.8% 61.11%

* Annualized

Return Ranking - Calendar

Period VBND Return Category Return Low Category Return High Rank in Category (%)
2023 3.9% -16.2% 8.1% 2.67%
2022 -16.2% -34.7% 131.9% 56.95%
2021 -2.0% -11.6% 4.4% 6.60%
2020 3.3% -10.1% 946.1% 64.73%
2019 6.1% -1.7% 16.9% 31.44%

Total Return Ranking - Trailing

Period VBND Return Category Return Low Category Return High Rank in Category (%)
YTD 1.7% -6.4% 11.1% 64.37%
1 Yr 7.1% -2.5% 16.8% 39.32%
3 Yr -1.7%* -9.8% 27.7% 28.13%
5 Yr -0.1%* -7.5% 58.4% 53.60%
10 Yr 1.3%* -2.9% 73.8% 61.11%

* Annualized

Total Return Ranking - Calendar

Period VBND Return Category Return Low Category Return High Rank in Category (%)
2023 8.2% -11.3% 11.9% 3.50%
2022 -14.2% -32.2% 131.9% 69.16%
2021 -0.4% -9.4% 9.2% 30.91%
2020 5.4% -1.9% 1009.0% 91.70%
2019 9.5% 1.1% 21668.0% 32.50%

VBND - Holdings

Concentration Analysis

VBND Category Low Category High VBND % Rank
Net Assets 421 M 2.9 M 314 B 69.44%
Number of Holdings 222 1 17787 85.10%
Net Assets in Top 10 143 M 1.62 M 35.1 B 65.26%
Weighting of Top 10 31.56% 4.4% 432.9% 26.93%

Top 10 Holdings

  1. U.S. Bank Money Market Deposit Account 7.71%
  2. United States Treasury Note/Bond 4.17%
  3. United States Treasury Note/Bond 4.13%
  4. United States Treasury Note/Bond 4.08%
  5. United States Treasury Note/Bond 3.62%
  6. United States Treasury Note/Bond 2.05%
  7. Ginnie Mae 1.87%
  8. Ginnie Mae 1.41%
  9. Fannie Mae or Freddie Mac 1.28%
  10. United States Treasury Note/Bond 1.24%

Asset Allocation

Weighting Return Low Return High VBND % Rank
Bonds 		99.06% 0.00% 993.61% 26.56%
Cash 		7.71% -54.51% 237.69% 20.04%
Stocks 		0.00% 0.00% 99.99% 61.54%
Preferred Stocks 		0.00% 0.00% 71.02% 57.45%
Other 		0.00% -27.25% 52.94% 86.64%
Convertible Bonds 		0.00% 0.00% 7.93% 92.34%

Bond Sector Breakdown

Weighting Return Low Return High VBND % Rank
Government 		61.18% 0.00% 86.23% 1.66%
Corporate 		22.45% 0.00% 100.00% 81.06%
Securitized 		9.73% 0.00% 98.40% 93.27%
Cash & Equivalents 		7.71% -0.46% 237.69% 20.66%
Derivative 		0.00% -1.58% 44.82% 61.15%
Municipal 		0.00% 0.00% 100.00% 83.85%

Bond Geographic Breakdown

Weighting Return Low Return High VBND % Rank
US 		99.06% 0.00% 993.61% 23.74%
Non US 		0.00% 0.00% 30.95% 61.77%

VBND - Expenses

Operational Fees

VBND Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.41% 0.01% 39.64% 82.42%
Management Fee 0.41% 0.00% 1.76% 73.00%
12b-1 Fee N/A 0.00% 1.00% 2.43%
Administrative Fee N/A 0.01% 0.50% N/A

Sales Fees

VBND Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.00% 5.75% N/A
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

VBND 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.

VBND Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 238.00% 2.00% 493.39% 75.42%

VBND - Distributions

Dividend Yield Analysis

VBND Category Low Category High VBND % Rank
Dividend Yield 3.85% 0.00% 10.11% 29.44%

Dividend Distribution Analysis

VBND Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

VBND Category Low Category High VBND % Rank
Net Income Ratio 1.55% -1.28% 4.79% 59.80%

Capital Gain Distribution Analysis

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

Distributions History

View More +

VBND - Fund Manager Analysis

Managers

Jim Iredale

Start Date

Tenure

Tenure Rank

Apr 15, 2015

7.13

7.1%

Mr. Iredale became a Senior Portfolio Manager – Fixed Income at Vident in 2015. Prior to joining Vident, Mr. Iredale was a Manager – Fixed Income with Ronald Blue & Co., one of the largest independent wealth management firms in the U.S., where he started in 1999. Mr. Iredale graduated with a BBA from the University of Georgia, Terry College of Business and obtained his JD from the University of Georgia School of Law.

Austin Wen

Start Date

Tenure

Tenure Rank

Jun 19, 2020

1.95

2.0%

Austin Wen, CFA has seven years of investment management experience. Mr. Wen is a Portfolio Manager at Vident, specializing in portfolio management and trading of equity portfolios and commodities based portfolios, as well as risk monitoring and investment analysis. Previously, Mr. Wen was an analyst for Vident Financial, working on the development and review of investment solutions. He began his career as a State Examiner for the Georgia Department of Banking and Finance. Mr. Wen obtained a BA in Finance from the University of Georgia and holds the Chartered Financial Analyst designation.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 33.43 6.77 1.16

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