U.S. Flag United States
Registered Investment Advisor
Ă—

CHALLENGE OLD THINKING.

Expand
Close
CHALLENGE OLD THINKING.
The market-cap weighted index has been around since 1957 – decades before the research that identified the factors that drive stocks’ returns.
THE REALITY
Market-cap weighting is a price-driven approach that is susceptible to short-term thinking. Revenue weighting is based on a reliable, tangible indicator of a company’s success.

Learn more about Challenge the Index

Bw 5161397070001 620x349

Revenue Weighted Strategy

Large Cap Revenue ETF

The strategy is comprised of the same securities as the S&P 500 Index. Each security in the fund is ranked by top line revenue, instead of market capitalization.

RWL CUSIP: 68386C104

CLOSING PRICE (as of 6/27/2017)
Market Close
$46.29
Bid/Ask Midpoint
$46.24
Bid/Ask Prem/Disc
0.04%
TICKERS & ISIN
Index Bloomberg Ticker
REVWLT
Reuters Bridge Ticker
RWL.IV
ISIN
US68386C1045
Investment Style
US Domestic Multi Factor Exposure
Fund Inception
February 19, 2008
Total Assets (as of 5/31/2017)
$661 million
Fund Index
S&P 500 Index
NAV (as of 6/27/17)
  • A
$46.22

Equity

Fixed Income

Municipal Bond
performance
analytics
holdings
as of 5/31/2017
  • B
as of 3/31/2017
  • B

Market Price
Market Price
Market Price
Market Price
  • B
Cumulative
Annualized
3 mo ytd as of 6/27/17
1 yr 3 yr 5 yr since inception
Large Cap Revenue ETF (NAV)
4.60% 6.71% 15.11% 9.04% 13.73% 8.53%
Cumulative
Annualized
3 mo ytd as of 6/27/17
1 yr 3 yr 5 yr since inception
Large Cap Revenue ETF (Market Price)
4.60% 6.71% 15.08% 9.05% 13.75% 8.53%
Cumulative
Annualized
3 mo ytd as of 6/27/17
1 yr 3 yr 5 yr since inception
Large Cap Revenue ETF (NAV)
1.17% 6.71% 15.51% 8.53% 15.85% 8.57%
Cumulative
Annualized
3 mo ytd as of 6/27/17
1 yr 3 yr 5 yr since inception
Large Cap Revenue ETF (Market Price)
1.19% 6.71% 15.44% 8.54% 15.88% 8.57%
Gross Expense Ratio: 0.55% | Net Expense Ratio: 0.39%

The performance data quoted represents past performance, which does not guarantee future results. The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost. Current performance and expense ratios may be lower or higher than the data quoted. Returns do not consider capital gains or income taxes on an individual's investment.


Year Large Cap Revenue ETF S&P 500 Index
2009 30.18% 26.46%
2010 16.93% 15.06%
2011 0.38% 2.11%
2012 18.08% 16.00%
2013 37.68% 32.39%
2014 13.35% 13.69%
2015 -1.21% 1.38%
2016 12.25% 11.96%

The performance data quoted represents past performance, which does not guarantee future results. The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost. Current performance and expense ratios may be lower or higher than the data quoted. Returns do not consider capital gains or income taxes on an individual's investment.


Date Large Cap Revenue ETF S&P 500 Index OFI Rev Weighted Lg Cap Ix
5/31/2012 0.00 0.00 0.00
6/30/2012 4.35 4.12 4.40
7/31/2012 5.23 5.57 5.29
8/31/2012 8.10 7.94 8.24
9/30/2012 11.18 10.73 11.40
10/31/2012 10.66 8.69 10.89
11/30/2012 11.21 9.32 11.49
12/31/2012 13.34 10.32 13.72
1/31/2013 20.44 16.03 20.88
2/28/2013 22.63 17.60 23.15
3/31/2013 28.35 22.02 28.92
4/30/2013 30.13 24.37 30.80
5/31/2013 34.14 27.28 34.87
6/30/2013 32.50 25.57 33.31
7/31/2013 39.79 31.96 40.74
8/31/2013 35.55 28.13 36.51
9/30/2013 39.32 32.15 40.37
10/31/2013 46.42 38.23 47.60
11/30/2013 52.25 42.44 53.55
12/31/2013 56.04 46.04 57.41
1/31/2014 49.49 41.00 50.88
2/28/2014 55.65 47.45 57.20
3/31/2014 58.26 48.68 59.93
4/30/2014 60.18 49.78 61.94
5/31/2014 63.22 53.30 65.09
6/30/2014 65.41 56.47 67.41
7/31/2014 63.22 54.31 65.34
8/31/2014 69.89 60.48 72.17
9/30/2014 66.40 58.23 68.72
10/31/2014 70.28 62.10 72.72
11/30/2014 76.03 66.46 78.52
12/31/2014 76.87 66.04 79.41
1/31/2015 71.53 61.05 74.02
2/28/2015 81.69 70.31 84.40
3/31/2015 79.74 67.61 82.61
4/30/2015 80.29 69.22 83.28
5/31/2015 82.20 71.40 85.11
6/30/2015 78.50 68.08 81.23
7/31/2015 80.35 71.60 83.23
8/31/2015 69.57 61.25 72.32
9/30/2015 65.36 57.26 67.94
10/31/2015 76.66 70.52 79.45
11/30/2015 77.15 71.03 79.96
12/31/2015 74.74 68.33 77.39
1/31/2016 65.26 59.98 67.87
2/29/2016 66.63 59.76 69.35
3/31/2016 78.24 70.60 81.29
4/30/2016 78.97 71.26 82.11
5/31/2016 80.66 74.34 83.88
6/30/2016 81.28 74.79 84.59
7/31/2016 87.32 81.24 90.84
8/31/2016 87.36 81.49 90.98
9/30/2016 86.51 81.52 90.19
10/31/2016 82.63 78.21 86.33
11/30/2016 93.09 84.81 97.08
12/31/2016 96.11 88.47 100.21
1/31/2017 98.73 92.04 102.97
2/28/2017 106.21 99.67 110.67
3/31/2017 105.18 99.90 109.65
4/30/2017 106.46 101.95 111.04
5/31/2017 108.63 104.79 113.33

The performance data quoted represents past performance, which does not guarantee future results. The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost. Current performance and expense ratios may be lower or higher than the data quoted. Returns do not consider capital gains or income taxes on an individual's investment.

$ per share as of 6/28/2017

Date 2012 2013 2014 2015 2016
Short Term
Long Term 0.0379 0.0277
Total Amount of Distribution 0.0379 0.0277
Record Date 12/31/14 12/31/15
Ex Div Date 12/29/14 12/29/15
Pay Date 1/5/15 1/4/16

There is no guarantee of the payment of any dividend or other distributions at any level.

Analytics

(As of 5/31/2017)

Morningstar 5/31/2017 (based on risk adjusted performance)
Overall Rating
Number of Funds
1082
Category
Large Value
Performance Statistics
3Y
Alpha
-1.26
Information Ratio
-0.75
Sharpe Ratio
0.82
Standard Deviation
10.36
Sortino Ratio
1.48
Beta
0.98
Bull Beta
0.99
Bear Beta
1.08
Excess Return
-1.61
Dividends
  • C
Est. Frequency
Quarterly
Last Pay Date
4/10/2017
Per Share ($)
$0.18
Net Income
100.00%
Net Profit from Sale
0.00%
Other Capital Sources
0.00%
12-Month Distribution ($)
$0.74
Portfolio Characteristics
Fund
Fund Index
Average Market Cap (weighted)
$128.54 B
-
Price/Book
2.68
-
Number of Holdings
505
-
Turnover Ratio
14.13%
-

Top Holdings

(32.2% of assets as of 06/27/17)

Ă—

Portfolio Holdings Breakdown

Country 4
Developed Markets 4
Equity Sector 4
Industry 4
Asset Allocation 4
Country Large Cap Revenue ETF S&P 500 Index Overweight / Underweight
United States 100.7% 99.9% 0.7%
France 0.1% 0.1% 0.0%
Developed Markets Large Cap Revenue ETF S&P 500 Index Overweight / Underweight
Americas 100.7% 99.9% 0.7%
Europe 0.1% 0.1% 0.0%
Equity Sector Large Cap Revenue ETF S&P 500 Index Overweight / Underweight
Health Care 16.4% 14.6% 1.8%
Consumer Discretionary 16.3% 12.2% 4.1%
Consumer Staples 15.1% 9.1% 6.0%
Financials 13.8% 14.3% -0.5%
Industrials 11.5% 10.2% 1.3%
Information Technology 11.0% 22.4% -11.5%
Energy 7.2% 6.0% 1.3%
Materials 2.9% 2.8% 0.1%
Telecommunication Services 2.8% 2.2% 0.7%
Utilities 2.8% 3.2% -0.4%
Real Estate 0.9% 3.0% -2.1%
Industry Large Cap Revenue ETF S&P 500 Index Overweight / Underweight
Health Care Providers & Services 11.2% 2.8% 8.3%
Food & Staples Retailing 10.1% 1.9% 8.3%
Oil Gas & Consumable Fuels 6.6% 5.1% 1.5%
Banks 4.5% 6.3% -1.8%
Insurance 4.2% 2.8% 1.5%
Specialty Retail 3.7% 2.2% 1.4%
Technology Hardware Storage & Peripherals 3.2% 4.2% -1.0%
Aerospace & Defense 3.0% 2.3% 0.7%
Automobiles 3.0% 0.5% 2.5%
Media 2.9% 3.0% -0.1%
Diversified Telecommunication Services 2.8% 2.2% 0.7%
Pharmaceuticals 2.4% 5.1% -2.8%
Diversified Financial Services 2.3% 1.6% 0.7%
IT Services 2.2% 3.9% -1.7%
Food Products 2.1% 1.4% 0.7%
Chemicals 2.0% 2.1% -0.2%
Electric Utilities 1.8% 2.0% -0.2%
Capital Markets 1.8% 2.9% -1.1%
Industrial Conglomerates 1.7% 2.4% -0.6%
Software 1.7% 4.9% -3.2%
Asset Allocation Large Cap Revenue ETF S&P 500 Index Overweight / Underweight
Equity 100.8% 100.0% 0.8%
  1. 1. Special Risks: An investment in the Fund is subject to investment risk, including the possible loss of principal amount invested. Fund returns may not match the return of its respective index, known as non-correlation risk, due to operating expenses incurred by the Fund. The alternate weighting approach employed by the Fund (i.e., using revenues as a weighting measure), while designed to enhance potential returns, may not produce the desired results. Because the Fund is rebalanced quarterly, portfolio turnover may exceed 100%. The greater the portfolio turnover, the greater the transaction costs, which could have an adverse effect on Fund performance.
  2. 2. The net expense ratio takes into account contractual fee waivers and/or expense reimbursements, without which performance would have been less. These undertakings may not be amended or withdrawn until December 2, 2017, unless approved by the Board.
  3. 3. Access Index Definitions
  4. 4. Holdings are subject to change, and are dollar weighted based on total new assets.
  5. A. Daily net asset value and dollar change of the fund is as of the previous business day's closing. Fund net asset values are updated at approximately 7 p.m. ET daily. ↩
  6. B. The performance data quoted represents past performance, which does not guarantee future results. The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost. Current performance and expense ratios may be lower or higher than the data quoted. Returns do not consider capital gains or income taxes on an individual's investment.

    On 2/22/2008 and 3/31/2008 for RWL, the last trade price was used to calculate market return because 4:00pm EST midpoint bid/ask prices are not available on those dates. On 9/30/2008, the last trade price for RWL was used to calculate market return because an uncorrected, failed trade resulted in an incorrect 4:00pm EST midpoint bid/ask price on that date.

    The NAV return is based on the net asset value of the Fund and the market return (MKT) is based on the market price per share of the Fund. The price used to calculate MKT is determined by using the midpoint between the highest bid and the lowest offer on the primary stock exchange on which the shares of the Fund are listed for trading when the Fund's NAV is calculated at market close. MKT and NAV assume dividends and capital gain distributions have been reinvested in the Fund at market price and NAV, respectively. Returns less than one year are cumulative.

    "Year to Date" returns are cumulative, not annualized, and do not reflect sales charges (if sales charges are applicable to the Fund). These returns would be lower if sales charges were taken into consideration. Short-term returns may not be indicative of longer-term performance, which should also be considered when making investment decisions.

    Returns are preliminary and subject to change until the first business day of the month.
    ↩
  7. C. There is no guarantee of the payment of any dividend or other distributions at any level. ↩
Ă—
Loading...
Tiny Button Small Button Large Button Default Button Secondary Button Framed Button Framed Button ( Small Caps )