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CHALLENGE OLD THINKING.

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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

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Alternatively Weighted Strategy

Ultra Dividend Revenue ETF

The strategy invests in the securities in the S&P 900 with the highest trailing dividend yield. Each of these securities are then weighted by top line revenue, instead of market capitalization.

RDIV CUSIP: 68386C401

PRICES (as of 10/20/2017)
Closing Price
$34.93
Mid-Point Price
$34.95
Premium/Discount
-0.03%
TICKERS & ISIN
Index Bloomberg Ticker
REVWDIVT
Reuters Bridge Ticker
RDIV.IV
ISIN
US68386C4015
Investment Style
US Ultra Dividend Revenue Weighted
Fund Inception
September 30, 2013
Total Assets (as of 9/30/2017)
$518 million
Benchmark
S&P 900 Index
Number of Holdings (as of 10/20/17)
62
Expense Ratio (as of 9/30/17)
0.39%
NAV (as of 10/20/17)
  • A
$34.96
performance
analytics
holdings
as of 9/30/2017
  • B
as of 9/30/2017
  • B

Market Price
Market Price
Market Price
Market Price
  • B
Cumulative
Annualized
1 mo 3 mo ytd as of 10/20/17
1 yr 3 yr since inception
Ultra Dividend Revenue ETF (NAV)
4.92% 4.27% 5.47% 10.56% 11.60% 12.76%
Cumulative
Annualized
1 mo 3 mo ytd as of 10/20/17
1 yr 3 yr since inception
Ultra Dividend Revenue ETF (Market Price)
4.96% 4.19% 5.47% 10.53% 11.58% 12.75%
Cumulative
Annualized
1 mo 3 mo ytd as of 10/20/17
1 yr 3 yr since inception
Ultra Dividend Revenue ETF (NAV)
4.92% 4.27% 5.47% 10.56% 11.60% 12.76%
Cumulative
Annualized
1 mo 3 mo ytd as of 10/20/17
1 yr 3 yr since inception
Ultra Dividend Revenue ETF (Market Price)
4.96% 4.19% 5.47% 10.53% 11.58% 12.75%
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 Ultra Dividend Revenue ETF S&P 900 Index
2014 21.53% 13.36%
2015 -5.18% 1.11%
2016 28.45% 12.61%

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 Ultra Dividend Revenue ETF S&P 900 Index OFI Rev Weighted Ultra Div Ix
9/30/2014 0.00 0.00 0.00
10/31/2014 5.70 2.53 5.70
11/30/2014 7.67 5.22 7.70
12/31/2014 9.70 5.05 9.82
1/31/2015 10.45 2.06 10.61
2/28/2015 10.45 7.87 10.66
3/31/2015 7.16 6.42 7.44
4/30/2015 11.41 7.23 11.65
5/31/2015 9.47 8.65 9.67
6/30/2015 5.34 6.60 5.41
7/31/2015 8.18 8.66 8.36
8/31/2015 4.23 2.15 4.41
9/30/2015 2.50 -0.44 2.75
10/31/2015 9.56 7.73 9.91
11/30/2015 6.91 8.14 7.31
12/31/2015 4.01 6.22 4.62
1/31/2016 1.86 0.89 2.49
2/29/2016 4.85 0.87 5.91
3/31/2016 13.90 7.84 15.15
4/30/2016 15.68 8.33 16.98
5/31/2016 15.14 10.32 16.48
6/30/2016 19.98 10.62 21.50
7/31/2016 27.70 14.74 29.34
8/31/2016 25.97 14.94 27.67
9/30/2016 25.70 14.90 27.64
10/31/2016 22.20 12.73 24.13
11/30/2016 30.47 17.27 32.61
12/31/2016 33.62 19.61 35.75
1/31/2017 35.77 21.86 37.99
2/28/2017 37.91 26.57 40.18
3/31/2017 35.18 26.67 37.53
4/30/2017 35.09 27.95 37.49
5/31/2017 31.58 29.57 33.96
6/30/2017 33.32 30.47 35.81
7/31/2017 36.19 33.04 38.78
8/31/2017 32.48 33.27 35.01
9/30/2017 38.98 36.20 41.71
Date Dividends
1/5/2015 0.2408
4/9/2015 0.3335
7/10/2015 0.2437
10/9/2015 0.2959
1/4/2016 0.368
4/8/2016 0.253
7/11/2016 0.2119
10/11/2016 0.2706
1/4/2017 0.3134
4/10/2017 0.3454
7/11/2017 0.3512
10/6/2017 0.4168

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

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 10/21/2017

Date 2012 2013 2014 2015 2016
Short Term 0.0311
Long Term 0.0198
Total Amount of Distribution 0.0311 0.0198
Record Date 12/31/14 12/30/16
Ex Div Date 12/29/14 12/28/16
Pay Date 1/5/15 1/4/17

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

Analytics

(As of 9/30/2017)

Morningstar 9/30/2017 (based on risk adjusted performance)
Overall Rating
Number of Funds
1108
Category
Large Value
Performance Statistics
3Y
Alpha
2.68
Beta
0.83
Information Ratio
0.09
Sharpe Ratio
0.97
Standard Deviation
11.65
Dividends
  • C
Est. Frequency
Quarterly
Last Pay Date
10/6/2017
Per Share ($)
$0.42
Net Income
98.05%
Net Profit from Sale
0.00%
Other Capital Sources
1.95%
12-Month Distribution ($)
$1.28
Portfolio Characteristics
Fund
Benchmark
Average Market Cap (weighted)
$52.48 B
-
Price/Book
2.17
-
Turnover Ratio
208.25%
-
Yields
Standardized Yield
4.85%
Unsubsidized Yield
4.75%

Top Holdings

(80.4% of assets as of 10/20/17)

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Portfolio Holdings Breakdown

Country 4
Developed Markets 4
Emerging Markets 4
Equity Sector 4
Industry 4
Asset Allocation 4
Country Ultra Dividend Revenue ETF S&P 900 Index Overweight / Underweight
United States 99.8% 100.0% -0.2%
Net Cash and Equivalents 0.2% - -
Developed Markets Ultra Dividend Revenue ETF S&P 900 Index Overweight / Underweight
Americas 99.8% 100.0% -0.2%
Net Cash and Equivalents 0.2% - -
Emerging Markets Ultra Dividend Revenue ETF S&P 900 Index Overweight / Underweight
Net Cash and Equivalents 0.2% - -
Equity Sector Ultra Dividend Revenue ETF S&P 900 Index Overweight / Underweight
Consumer Discretionary 25.5% 11.8% 13.7%
Telecommunication Services 15.7% 1.9% 13.9%
Utilities 15.2% 3.3% 11.9%
Information Technology 13.0% 23.2% -10.2%
Energy 11.1% 5.8% 5.3%
Real Estate 10.1% 3.4% 6.6%
Consumer Staples 4.8% 7.7% -3.0%
Financials 3.2% 14.9% -11.7%
Industrials 0.9% 10.7% -9.8%
Materials 0.3% 3.3% -3.1%
Net Cash and Equivalents 0.2% - -
Industry Ultra Dividend Revenue ETF S&P 900 Index Overweight / Underweight
Diversified Telecommunication Services 15.7% 1.8% 13.9%
Multiline Retail 13.9% 0.4% 13.5%
Electric Utilities 11.2% 2.0% 9.2%
Oil Gas & Consumable Fuels 10.7% 4.9% 5.8%
Equity Real Estate Investment Trusts (REITs) 10.1% 3.4% 6.7%
IT Services 5.5% 4.1% 1.4%
Specialty Retail 5.1% 2.0% 3.1%
Automobiles 5.1% 0.5% 4.6%
Semiconductors & Semiconductor Equipment 4.9% 3.8% 1.1%
Tobacco 4.8% 1.2% 3.5%
Independent Power and Renewable Electricity Producers 3.2% 0.1% 3.2%
Technology Hardware Storage & Peripherals 2.6% 3.9% -1.3%
Consumer Finance 1.1% 0.7% 0.3%
Commercial Services & Supplies 0.9% 0.4% 0.5%
Multi-Utilities 0.8% 1.0% -0.2%
Insurance 0.7% 2.9% -2.2%
Hotels Restaurants & Leisure 0.7% 1.9% -1.2%
Banks 0.7% 6.6% -6.0%
Household Durables 0.5% 0.5% 0.0%
Thrifts & Mortgage Finance 0.4% 0.0% 0.4%
Asset Allocation Ultra Dividend Revenue ETF S&P 900 Index Overweight / Underweight
Equity 99.6% 100.0% -0.4%
Net Cash and Equivalents 0.2% - -
Fixed Income 0.2% - -
  1. 1. Special Risks: An investment in the Fund is subject to investment risk, including the possible loss of principal amount invested. There is no guarantee that the issuers of stocks will declare dividends in the future, or that dividends will remain at their current levels or increase over time. The Fund is classified as a “non-diversified” fund and may invest a greater portion of its assets in the securities of a single issuer. Investing significantly in a particular region, industry, sector or issuer may increase volatility and risk. 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. Access Index Definitions
  3. 3. The Subsidized 30-Day SEC Yield is computed under an SEC standardized formula based on net income earned over the past 30 days. It is a "subsidized" yield, which means it includes contractual expense reimbursements and it would be lower without those reimbursements. The Unsubsidized 30-Day SEC Yield is computed under an SEC standardized formula based on net income earned over the past 30 days. It excludes contractual expense reimbursements, resulting in a lower yield.
  4. 4. Holdings are subject to change, and are dollar weighted based on total new assets.
  5. 5. Negative net cash may be the result of a variety of factors including, but not limited to, (1) pending receivables or (2) amounts owed to the fund due to balancing amounts with respect to purchases and redemptions of creation units, but is not the result of the use of leverage.
  6. 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 7:00pm ET daily.
  7. 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.

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