GBDV Q4 2021 Rebalance Announcement

The Global Beta Smart Income ETF will rebalance at the close of 12/17/21!

Please visit GBDV GlobalbetaETF for Top 10 holdings, Standardized Performance, and to find out more about the fund and its investment objective!

Oil futures are currently below its 30-day trailing price average as of 11/30/21, which will trigger our 3% energy sector cap. Additionally, below you will find securities in the fund that are at risk of being removed from the portfolio:

Securities in Jeopardy

Ticker Company Name Current Price-to-Sales Ratio Current 12-Month Trailing Dividend Yield
WING Wingstop, Inc. 17.58 0.33%
CSX CSX Corporation 6.52 1.23%
AFG American Financial Group, Inc. 1.61 1.59%
NEE NextEra Energy, Inc. 8.33 1.92%
NLOK NortonLifeLock, Inc. 5.46 1.96%
UE Urban Edge Properties 5.26 2.46%
LSI Life Storage, Inc. 14.26 2.56%
COST Costco Wholesale Corporation 1.22 2.88%
FLO Flowers Foods,Inc. 1.26 3.31%
MMM 3M Company 2.91 3.37%

Current price-to-sales ratio as of 11/30/21. 12-month trailing dividend yield based on price from 11/30/21 and 12-month trailing revenue as of most recently reported fiscal quarter. Price-to-sales takes the company’s current market capitalization and divides by the company’s most recently reported 12-month trailing revenue.

Below you will find securities that the index may be considering, given current valuations relative to their dividend yield and price-to-sales multiple:

Securities in Consideration

Ticker Company Name Current Price-to-Sales Ratio Current 1-Year Beta
HPE Hewlett Packard Enterprise Co. 0.69 3.28
R Ryder System, Inc. 0.48 2.73
CNP CenterPoint Energy, Inc. 1.95 2.56
CFG Citizens Financial Group, Inc. 2.82 3.32
IVZ Invesco Ltd. 1.45 2.7
PDCO Patterson Companies Incorporated 0.49 3.33
CC Chemours Co. 0.82 3.44
WELL Welltower, Inc. 7.53 2.96
SNV Synovus Financial Corp. 3.15 3.01
PEAK Healthpeak Properties, Inc. 9.61 3.79

Current price-to-sales ratio as of 11/30/21. 12-month trailing dividend yield based on price from 11/30/21 and 12-month trailing revenue as of most recently reported fiscal quarter. Price-to-sales takes the company’s current market capitalization and divides by the company’s most recently reported 12-month trailing revenue.

As a reminder, our methodology contemplates yield across all sectors. While yield for some securities may seem low on an absolute basis, it is actually high among its peers. This allows the portfolio to be more diversified while also potentially delivering strong yield. Below is a summary of the characteristics between the securities that are being considered versus those in jeopardy:

Turnover Recap

Current Price-to-Sales Ratio Current 12-month Trailing Dividend Yield
Stocks in Consideration of Index 2.90 3.11%
Stocks in Jeopardy of Index 6.44 2.16%

Current price-to-sales ratio as of 11/30/21. 12-month trailing dividend yield based on price from 11/30/21 and 12-month trailing revenue as of most recently reported fiscal quarter. Price-to-sales takes the company’s current market capitalization and divides by the company’s most recently reported 12-month trailing revenue. Dividend yield is calculated by dividing the dividends paid by the company over the past 12 months into the company’s current market capitalization.

Dividends represent past performance, and there is no guarantee that they will continue to be paid. The dividend yield is not representative of the fund’s yield.

The performance data quoted represents past performance and is no guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. For the most recent month-end performance, please call (833) 933-2083.

Before investing you should carefully consider the Fund’s investment objectives, risks, charges, and expenses. This and other information is in the prospectus or summary prospectus. A copy may be obtained by visiting www.globalbetaetfs.com or calling (833) 933-2083. Please read the prospectus or summary prospectus carefully before investing.

The fund’s primary risks:

Mid-Capitalization Securities Risk
The securities of mid-capitalization companies are often more volatile and less liquid than the stocks of larger companies and may be more affected than other types of securities during market downturns. Compared to larger companies, mid-capitalization companies may have a shorter history of operations, and may have limited product lines, markets or financial resources.

Concentration Risk
To the extent that the Target Index is concentrated in a particular industry, group of industries or sector, the Fund is also expected to be concentrated in that industry, group of industries or sector, which may subject the Fund to a greater loss as a result of adverse economic, business or other developments affecting that industry, group of industries or sector.

Dividend-Paying Securities Risk
The Fund’s emphasis on dividend-paying stocks involves the risk that such stocks may fall out of favor with investors and underperform the market. Also, a company may reduce or eliminate its dividend after the Fund’s purchase of such a company’s securities.

Large Capitalization Securities Risk
The securities of large market capitalization companies may underperform other segments of the market because such companies may be less responsive to competitive challenges and opportunities and may be unable to attain high growth rates during periods of economic expansion.

Distributor: Compass Distributors, LLC

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