Fund Summary

IDIV seeks to provide monthly payments that, before fees and expenses, replicate the actual dividends paid by the S&P 500, without price exposure, as represented by the Solactive US Cumulative Dividends Index - Series 2027.

Essentially, IDIV allows investors to access the potential dividend income of the S&P 500 Index without stock price exposure. IDIV has an initial 10-year life and expects to make monthly distributions.

Why IDIV

  • No stock price exposure

  • Potential dividend growth

  • Monthly distributions

  • Can use IDIV to customize amount of cash flow generated by a portfolio

  • Passive investment and no sector concentration

Dividend growth has historically been…

  • An effective hedge against inflation and rising interest rates (positively correlated).

  • Negatively correlated to fixed income returns (Bloomberg Barclay’s US Agg Bond Index).

  • Less volatile than underlying S&P 500. IDIV has no stock price exposure and dividends are not subject to expansion and contraction of the price/earnings multiple1.

  • More correlated to earnings growth than the underlying S&P 500 index, making IDIV a potentially better pure play on earnings.

1Price-Earnings multiple (P/E ratio) - a ratio for valuing a company that measures its current share price relative to its per-share earnings.

Pricing

As of TBD Level Daily
Change ($)
Daily
Change (%)
Premium/
Discount to NAV
IDIV NAV TBD TBD TBD  
IDIV Price TBD TBD TBD TBD
SOIDIV27 (Adjusted) TBD      
SOIDIV27 TBD      

All fund data as of previous market close unless otherwise noted.

SOIDIV27(Adjusted) is calculated by subtracting IDIV’s YTD accumulated distributions from the SOIDIV27 Index level. This is not the actual price of the Solactive US Cumulative Dividends Index—Series 2027 (SOIDIV27). This adjustment is needed to reflect and normalize the difference in distribution strategies between IDIV and the index; the SOIDIV27 index reflects annual distributions while IDIV expects to make monthly distributions.

SOIDIV27 (Adjusted) = SOIDIV27 - YTD IDIV Distributions.

Performance History

Month-End
as ofTBD
Year-to-Date 1 Month 3 Month 6 Month 12 Month Since Inception2
IDIV NAV            
IDIV Closing Price            
SOIDIV271 11.13% -0.46% 0.86% 4.80% 2.94% 1.92%

Quarter-End
as of TBD
Year-to-Date   3 Month 6 Month 12 Month Since Inception2
IDIV NAV       12.28%    
IDIV Closing Price       14.12%    
SOIDIV271     11.65% 4.40% 4.62%

1The Solactive U.S. Cumulative Dividends Index – Series 2027 (the “Dividends Index”, the “Index”) is an Index of Solactive AG and is calculated and distributed by Solactive AG. The Index aims to represent the discounted present value of all listed annual S&P 500 Dividend Index Futures contracts out to and including the December 2027 dividend futures expiry. To accomplish this, each S&P 500 Dividend Index Future market price will be discounted by using the computed yield of a specified U.S. Treasury Security with a similar or prior maturity date as the corresponding S&P 500 Dividend Index Future expiry. After expiry of any S&P 500 Dividend Futures contract, such futures contract and its corresponding U.S. Treasury Security will be removed from the Index. The Index is a price only index. In order to show the total return performance of the SOIDIV27 Index in the table, for any for any period during which a futures contract matures, the Settlement Price of that contract is re-incorporated back into the calculation of the total return over such period. The Index is published in USD.
2Inception Date is 2/5/2018

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.

Index performance does not reflect any management fees, transaction costs or expenses. Indexes are unmanaged and one cannot invest directly in an index. Index returns are for illustrative purposes only.

Distributions4

Ex-Date Record Date Payable Date Amount Type5
1/30/2019 1/31/2019 2/1/2019 $0.0525 Return of Basis
2/27/2019 2/28/2019 3/1/2019 $0.105 Return of Basis
3/28/2019 3/29/2019 4/1/2019 $0.125 Return of Basis
4/29/2019 4/30/2019 5/1/2019 $0.095 Return of Basis
5/30/2019 5/31/2019 6/3/2019 $0.125 Return of Basis
6/27/2019 6/28/2019 7/1/2019 $0.125 Return of Basis
7/30/2019 7/31/2019 8/1/2019 $0.08 Return of Basis
8/30/2019 9/2/2019 9/3/2019
9/27/2019 9/30/2019 10/1/2019
10/30/2019 10/31/2019 11/1/2019
11/28/2019 11/29/2019 12/2/2019
12/30/2019 12/31/2019 1/2/2020

4The Fund will be treated as a partnership for U.S. federal income tax purposes and will issue a Schedule K-1 to investors.
5Monthly cash distributions made to IDIV investors in 2019 should be treated entirely (100%) as a return of a Shareholder's tax basis (not less than zero) and should not be subject to withholding. Holders of IDIV should expect to be allocated a modest amount of Federally taxable interest income as a result of the U.S. Treasury securities and cash held by the Fund. Taxable investors should also expect to see an allocation of capital gain or loss attributable to certain investment contracts held by the Fund. Tax forms will break out the amount of short- and long-term capital gain or loss reportable by you. Investors will be allocated a proportionate amount of the Fund’s expenses that will also appear on your tax form. Each of these items will result in an adjustment to your cost basis in the Fund’s shares. For your convenience, your personalized tax form will provide you with your ending adjusted cost basis in the Fund’s shares.

There is no guarantee that distributions will be made. Investors should consult their own tax advisors. This information is not tax advice. Please read the prospectus carefully before investing

Ex-Date Record Date Payable Date Amount Type5
2/27/2018 2/28/2018 3/1/2018 $0.07 Return of Basis
3/28/2018 3/29/2018 4/2/2018 $0.09 Return of Basis
4/27/2018 4/30/2018 5/1/2018 $0.09 Return of Basis
5/30/2018 5/31/2018 6/1/2018 $0.10 Return of Basis
6/28/2018 6/29/2018 7/2/2018 $0.1025 Return of Basis
7/30/2018 7/31/2018 8/1/2018 $0.095 Return of Basis
8/30/2018 8/31/2018 9/4/2018 $0.12 Return of Basis
9/27/2018 9/28/2018 10/1/2018 $0.12 Return of Basis
10/30/2018 10/31/2018 11/1/2018 $0.08 Return of Basis
11/29/2018 11/30/2018 12/3/2018 $0.12 Return of Basis
12/28/2018 12/31/2018 1/2/2019 $0.14 Return of Basis

4The Fund will be treated as a partnership for U.S. federal income tax purposes and will issue a Schedule K-1 to investors.
5Monthly cash distributions made to IDIV investors in 2019 should be treated entirely (100%) as a return of a Shareholder's tax basis (not less than zero) and should not be subject to withholding. Holders of IDIV should expect to be allocated a modest amount of Federally taxable interest income as a result of the U.S. Treasury securities and cash held by the Fund. Taxable investors should also expect to see an allocation of capital gain or loss attributable to certain investment contracts held by the Fund. Tax forms will break out the amount of short- and long-term capital gain or loss reportable by you. Investors will be allocated a proportionate amount of the Fund’s expenses that will also appear on your tax form. Each of these items will result in an adjustment to your cost basis in the Fund’s shares. For your convenience, your personalized tax form will provide you with your ending adjusted cost basis in the Fund’s shares.

There is no guarantee that distributions will be made. Investors should consult their own tax advisors. This information is not tax advice. Please read the prospectus carefully before investing

Fund Details

Ticker IDIV
CUSIP 59140l1008
ISIN US59140l1008
Inception Date 02/05/2018
Exchange NYSE Arca
No. of Holdings 21
Total Expense Ratio 0.87%
Index Ticker SOIDIV27
Net Assets TBD
Shares Outstanding TBD
Daily Volume TBD

Live IOPV/INAV Pricing

Bloomberg Ticker IDIVIV
Current IOPV/INAV

S&P 500 Dividend Futures Table

S&P 500 Dividend Futures Contract Year End Contract Price3 ($) YoY Div. Growth Consensus
Compounded Annual Growth Rate:
45-Year Historical Annual Growth Rate: 6.35%

as of

3The contract price reflects the market's future expectation of annual dividends for the contract year. At expiry each year, the price reflects the actual dividends paid on the S&P 500 Index during that year.