Dividend Investing Ideas Center
Critical Facts You Need to Know About Preferred Stocks
Have you ever wished for the safety of bonds, but the return potential...
Name
As of 05/10/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
YTD Return
2.3%
1 yr return
5.1%
3 Yr Avg Return
N/A
5 Yr Avg Return
N/A
Net Assets
$116 M
Holdings in Top 10
99.2%
Expense Ratio 0.35%
Front Load N/A
Deferred Load N/A
Turnover N/A
Redemption Fee N/A
Standard (Taxable)
N/A
IRA
N/A
Fund Type
Exchange Traded Fund
Name
As of 05/10/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Principal Investment Strategies: The Fund is an actively managed exchange-traded fund (“ETF”). The Fund’s investment adviser seeks to fulfill the Fund’s investment objective by using two income strategies: (1) an interest income strategy and (2) an income generating option strategy. “Stable Income” in the Fund’s name refers to the strategy goal of producing income that is reflective of current short term interest rates without large swings in the Fund’s net asset value per share. However, the Fund is not a money market fund and is not intended to have an unchanging net asset value per share.
Interest Income Strategy
The Fund invests primarily in interest income producing U.S. Treasury securities such as bills, notes, and bonds and fixed income ETFs that invest primarily in U.S. Treasuries. The Fund targets an average securities portfolio duration of one year or less but does not restrict individual security maturity. Duration is a measure of the price sensitivity of a debt instrument when interest rates change. For example, if a note has a duration of 1 year, a 1% rise in rates would result in a 1% decline in price. The adviser selects securities to maximize portfolio yield within the current duration target and the adviser sells securities primarily to adjust portfolio duration.
Income Generating Option Strategy
To generate additional income, the Fund employs an exchange-traded and over-the-counter (“OTC”) option spread writing strategy on equity, fixed income, volatility, commodity, and currency ETFs and exchange traded products (“ETPs”).The adviser focuses on index-based domestically-traded ETFs, for example, such as those linked to the S&P 500® Index or the Bloomberg US Aggregate Bond Index. The adviser selects equity ETFs holding stocks of any market capitalization and fixed income ETFs holding securities of any maturity or credit quality. A call option gives the owner the right, but not the obligation, to buy an ETF at a specified price (strike price) within a specific time period. A put option gives the owner the right, but not the obligation, to sell an ETF at a specified price (strike price) within a specific time period. By selling put and call options in return for the receipt of premiums (the purchase price of an option), the adviser attempts to increase Fund income as the passage of time decreases the value of the written options. Gains from written option premiums are capital gains, but commonly referred to as income. The option writing strategy is a form of leveraged investing. The adviser focuses on writing short-term options with less than one-month to maturity because their value erodes faster than long-term options.
Call Spread Sub-Strategy
When the adviser believes an ETF’s price will decrease, remain unchanged, or only increase slightly it employs a call spread strategy. In a call option spread, the Fund sells (writes) an out of the money (above current market price) call option while also purchasing a further out of the money call option.
Put Spread Sub-Strategy
When the adviser believes an ETF’s price will increase, remain unchanged, or only decrease slightly it employs a put spread strategy. In a put option spread, the Fund sells (writes) an out of the money (below current market price) put option while also purchasing a further out of the money put option.
The adviser expects the written options to expire worthless, but purchases lower-cost further out of the money options to insulate the Fund from large losses if the written options increase in value. The adviser expects options to be held to expiration, but may adjust positions following a large (over 10%) price swing in an option’s reference ETF.
When writing options, the Fund is required to post collateral to assure its performance to the option buyer. The Fund will hold cash and cash-like instruments or high-quality short term fixed income securities (collectively, “Collateral”). The Collateral may consist of (1) U.S. Government securities, such as bills, notes and bonds issued by the U.S. Treasury; (2) money market funds; (3) fixed income ETFs; and/or (4) corporate debt securities, such as commercial paper and other short-term unsecured promissory notes issued by companies that are rated investment grade or of comparable quality. The adviser considers an unrated security to be of comparable quality to a security rated investment grade if it believes it has a similar low risk of default.
The Fund expects to gain exposure to certain options markets by investing up to 25% of its assets in a wholly owned subsidiary of the Fund organized under the laws of the Cayman Islands (the “Subsidiary”). The Subsidiary is advised by the Fund’s investment adviser. Unlike the Fund, the Subsidiary is not an investment company registered under the Investment Company Act of 1940, as amended (the “1940 Act”). The Fund’s investment in the Subsidiary is intended to provide the Fund with exposure to options markets in accordance with applicable rules and regulations.
Period | BUCK Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 2.3% | N/A | N/A | N/A |
1 Yr | 5.1% | N/A | N/A | N/A |
3 Yr | N/A* | N/A | N/A | N/A |
5 Yr | N/A* | N/A | N/A | N/A |
10 Yr | N/A* | N/A | N/A | N/A |
* Annualized
Period | BUCK Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | -0.3% | N/A | N/A | N/A |
2022 | N/A | N/A | N/A | N/A |
2021 | N/A | N/A | N/A | N/A |
2020 | N/A | N/A | N/A | N/A |
2019 | N/A | N/A | N/A | N/A |
Period | BUCK Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 2.3% | N/A | N/A | N/A |
1 Yr | 5.1% | N/A | N/A | N/A |
3 Yr | N/A* | N/A | N/A | N/A |
5 Yr | N/A* | N/A | N/A | N/A |
10 Yr | N/A* | N/A | N/A | N/A |
* Annualized
Period | BUCK Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 4.6% | N/A | N/A | N/A |
2022 | N/A | N/A | N/A | N/A |
2021 | N/A | N/A | N/A | N/A |
2020 | N/A | N/A | N/A | N/A |
2019 | N/A | N/A | N/A | N/A |
BUCK | Category Low | Category High | BUCK % Rank | |
---|---|---|---|---|
Net Assets | 116 M | N/A | N/A | N/A |
Number of Holdings | 24 | N/A | N/A | N/A |
Net Assets in Top 10 | 40.2 M | N/A | N/A | N/A |
Weighting of Top 10 | 99.24% | N/A | N/A | N/A |
Weighting | Return Low | Return High | BUCK % Rank | |
---|---|---|---|---|
Bonds | 99.25% | N/A | N/A | N/A |
Cash | 0.95% | N/A | N/A | N/A |
Stocks | 0.00% | N/A | N/A | N/A |
Preferred Stocks | 0.00% | N/A | N/A | N/A |
Convertible Bonds | 0.00% | N/A | N/A | N/A |
Other | -0.20% | N/A | N/A | N/A |
Weighting | Return Low | Return High | BUCK % Rank | |
---|---|---|---|---|
Cash & Equivalents | 0.00% | N/A | N/A | N/A |
Securitized | 0.00% | N/A | N/A | N/A |
Corporate | 0.00% | N/A | N/A | N/A |
Municipal | 0.00% | N/A | N/A | N/A |
Government | 0.00% | N/A | N/A | N/A |
Derivative | -0.20% | N/A | N/A | N/A |
Weighting | Return Low | Return High | BUCK % Rank | |
---|---|---|---|---|
US | 99.25% | N/A | N/A | N/A |
Non US | 0.00% | N/A | N/A | N/A |
BUCK Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.35% | N/A | N/A | N/A |
Management Fee | 0.35% | N/A | N/A | N/A |
12b-1 Fee | N/A | N/A | N/A | N/A |
Administrative Fee | N/A | N/A | N/A | N/A |
BUCK Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | N/A | N/A | N/A |
Deferred Load | N/A | N/A | N/A | N/A |
BUCK Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | N/A | N/A | N/A |
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.
BUCK Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | N/A | N/A | N/A | N/A |
BUCK | Category Low | Category High | BUCK % Rank | |
---|---|---|---|---|
Dividend Yield | 6.80% | N/A | N/A | N/A |
BUCK | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly |
BUCK | Category Low | Category High | BUCK % Rank | |
---|---|---|---|---|
Net Income Ratio | N/A | N/A | N/A | N/A |
BUCK | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency |
Date | Amount | Type |
---|---|---|
Apr 25, 2024 | $0.140 | OrdinaryDividend |
Mar 25, 2024 | $0.250 | OrdinaryDividend |
Feb 26, 2024 | $0.250 | OrdinaryDividend |
Jan 26, 2024 | $0.200 | OrdinaryDividend |
Dec 26, 2023 | $0.110 | OrdinaryDividend |
Nov 27, 2023 | $0.100 | OrdinaryDividend |
Oct 26, 2023 | $0.100 | OrdinaryDividend |
Sep 27, 2023 | $0.100 | OrdinaryDividend |
Aug 28, 2023 | $0.100 | OrdinaryDividend |
Jul 26, 2023 | $0.100 | OrdinaryDividend |
Jun 27, 2023 | $0.100 | OrdinaryDividend |
May 25, 2023 | $0.100 | OrdinaryDividend |
Apr 25, 2023 | $0.100 | OrdinaryDividend |
Mar 27, 2023 | $0.100 | OrdinaryDividend |
Feb 23, 2023 | $0.100 | OrdinaryDividend |
Jan 26, 2023 | $0.100 | OrdinaryDividend |
Dec 27, 2022 | $0.103 | OrdinaryDividend |
Dec 27, 2022 | $0.004 | CapitalGainLongTerm |
Nov 25, 2022 | $0.040 | OrdinaryDividend |
Dividend Investing Ideas Center
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