Fund Details
| Ticker | DIVO |
| Inception | 12/14/2016 |
| Primary Exchange | NYSE Arca |
| CUSIP | 032108409 |
| Net Assets | N/A |
| Shares Outstanding | |
| # of Holdings (view all holdings) | N/A |
| Expense Ratio: | N/A |
Fund Characteristics
| Weighted Avg. Market Cap | N/A |
| Price-to-earnings | N/A |
| Price-to-book | N/A |
| Standard deviation | N/A |
Standard deviation measures how dispersed returns are around the average. A higher standard deviation indicates that returns are spread out over a larger range of values and thus, more volatile.
Index Details
| Index Name | EQM Lithium & Battery Technology Index |
| Index Ticker | BATTIDX |
| Index Provider | EQM Indexes |
| Weighting Methodology | Modified market-cap |
| Rebalance Frequency | Quarterly |
| Index Website | eqmindexes.com |
Fund Documents
Why Invest in DIVO?
- Income Potential: comprised of high-quality dividend-oriented stocks, along with covered calls on individual stocks.
- Active Management: allows the portfolio manager (CWP) to identify opportunities and risks, and act on those decisions in real time.
- Seeks to Lower Volatility: dividend and option income may provide lower share price volatility vs. the overall market during times of broad-based market declines.
DIVO seeks investment results that correspond generally to an existing strategy called the Enhanced Dividend Income Portfolio (EDIP). The strategy is managed by DIVO’s sub-adviser, Capital Wealth Planning (CWP).
Based on risk adjusted returns among 77 funds in the Derivative Income category (as of 9/30/24)
Objective and Strategy
DIVO is an actively managed ETF of high-quality large-cap companies with a history of dividend growth, along with a tactical covered call* strategy on individual stocks. DIVO is strategically designed to offer high levels of total return on a risk-adjusted basis.
Yield
| Distribution Frequency | Monthly | 30-Day SEC Yield** | N/A | |
| Distribution Rate* | N/A | |||
* The Distribution Rate is computed as the normalized current distribution (annualized) over NAV per share. In addition to net interest income, distributions may include capital gains and return of capital (ROC). Please click here for more information.
** 30-Day SEC Yield is a standard yield calculation developed by the Securities and Exchange Commission that allows for fairer comparisons among bond funds. It is based on the most recent month end. This figure reflects the income earned from dividends – excluding option income – during the period after deducting the Fund’s expenses for the period.
NAV and Market Price
| Previous Day's NAV | Previous Day's Market Price | |||
|---|---|---|---|---|
| Net Asset Value | N/A | Closing Price | N/A | |
| Daily Change | N/A | Daily Change | N/A | |
| % Daily Change | N/A | % Daily Change | N/A | |
| 30-Day Median Bid/Ask Spread | N/A | Premium/Discount % | N/A | |
| Premium Discount History | ||||
Daily Price/NAV Performance
Fund Holdings
| TOP 10 HOLDINGS | |||
|---|---|---|---|
Fund holdings are subject to change at any time and should not be considered recommendations to buy or sell any security.
DIVO Selection Methodology
Sector Allocation
Market Capitalization
| LARGE CAP (> $10B): | N/A |
| MID CAP ($2B - $10B): | N/A |
| SMALL CAP ($300M - < $2B): | N/A |
| MICRO CAP (<$300M): |
Fund holdings are subject to change at any time and should not be considered recommendations to buy or sell any security.
Performance
| CUMULATIVE (%) | ANNUALIZED (%) | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| 1 Mo. | 3 Mo. | 6 Mo. | YTD | Since Inception (12/14/16) |
1 Yr. | 3 Yr. | 5 Yr. | Since Inception (12/14/16) |
|
| Month end as of TBD | |||||||||
| Fund NAV | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Closing Price | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| S&P 500 TR Index | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cboe S&P 500 BuyWrite Index | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Quarter end as of TBD | |||||||||
| Fund NAV | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Closing Price | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| S&P 500 TR Index | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cboe S&P 500 BuyWrite Index | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted. Short-term performance, in particular, is not a good indication of the fund’s future performance, and an investment should not be made based solely on returns. Brokerage commissions will reduce returns. A fund’s NAV is the sum of all its assets less any liabilities, divided by the number of shares outstanding. The closing price or market price is the most recent price at which the fund was traded.
The Standard & Poor's (S&P) 500 Total Return Index is an unmanaged, market-capitalization-weighted index of the 500 largest U.S. publicly traded companies by market value, and assumes distributions are reinvested back into the index. It does not include fees or expenses. It is not possible to invest directly in an index.
The Cboe S&P 500 BuyWrite Index (BXM) is a benchmark index designed to track the performance of a hypothetical buy-write strategy on the S&P 500 Index. A “buy-write” strategy is generally one in which an investor buys a stock (or basket of stocks), and also writes covered calls that correspond to those holdings.
DIVO differs substantially from the S&P 500 Index and Cboe S&P 500 BuyWrite index, which are used for comparison purposes as widely recognized measures of U.S. stock market performance. While the returns of DIVO have exhibited positive (but varying) correlation to the indexes over time, DIVO may invest in different stocks and in different proportions than in the S&P 500 index and Cboe BuyWrite index.
Premium/Discount
The table and line graph are provided to show the frequency at which the closing price of the Fund was at a premium (above) or discount (below) to the Fund's daily net asset value ("NAV"). The table and line graph represent past performance and cannot be used to predict future results. Shareholders may pay more than NAV when buying Fund shares and receive less than an NAV when those shares are sold because shares are bought and sold at current market prices.
This is your Counts mockup
| Calendar Year | Calendar Year through | |
|---|---|---|
| Days traded at premium | N/A | N/A |
| Days traded at net asset value | N/A | N/A |
| Days traded at discount | N/A | N/A |
DIVO Distributions
| EX-DATE | RECORD DATE | PAYABLE DATE | AMOUNT |
|---|---|---|---|
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2017 |
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2018 |
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2019 |
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2020 |
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2021 |
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2022 |
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2023 |
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2024 |
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| 1/29/24 | 1/30/24 | 1/31/24 | $0.14892 |
| 2/27/24 | 2/28/24 | 2/29/24 | $0.15216 |
| 3/26/24 | 3/27/24 | 3/28/24 | $ 0.15488 |
| 4/26/24 | 4/29/24 | 4/30/24 | $0.15316 |
| 5/30/24 | 5/30/24 | 5/31/24 | $0.15407 |
| 6/27/24 | 6/27/24 | 6/28/24 | $0.15556 |
| 7/30/24 | 7/30/24 | 7/31/24 | $0.15843 |
| 8/29/24 | 8/29/24 | 8/30/24 | $0.16107 |
| 9/27/24 | 9/27/24 | 9/30/24 | $0.16344 |
| 10/30/24 | 10/30/24 | 10/31/24 | $0.16419 |
| 11/27/24 | 11/27/24 | 11/29/24 | $0.17076 |
| 12/30/24 | 12/30/24 | 12/31/24 | |
There is no guarantee that distributions will be made.
*A covered call refers to a financial transaction in which the investor selling call options owns an equivalent amount of the underlying security.
Investing involves risk, including the possible loss of principal. You could lose money by investing in the Fund. An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency. There can be no assurance that the Fund’s investment objectives will be achieved. Covered call risk is the risk that the Fund will forgo, during the option’s life, the opportunity to profit from increases in the market value of the security covering the call option above the sum of the premium and the strike price of the call, but has retained the risk of loss should the price of the underlying security decline. The Fund may invest in mid-capitalization companies. This may cause the Fund to be more vulnerable to adverse general market or economic developments because such securities may be less liquid and subject to greater price volatility than those of larger, more established companies. Because the Fund is non-diversified and can invest a greater portion of its assets in securities of individual issuers than a diversified fund, changes in the market value of a single investment could cause greater fluctuations in Share price than would occur in a diversified fund.
© 2024 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.
The Morningstar Rating™ for funds, or “star rating”, is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The Morningstar Rating does not include any adjustment for sales loads. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. DIVO received 5 stars among 77 funds in the Derivative Income category for the overall and the 3-year periods, and 5 stars among 67 funds for the 5-year period ending on 9/30/24.
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