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
1 Month 3 Month 6 Month Since Inception2
IDIV NAV        
IDIV Closing Price        
Solactive US Cum. Div

Index - Series 20271
       

Quarter-End
as of TBD
  3 Month 6 Month Since Inception2
IDIV NAV     -0.63%  
IDIV Closing Price   1.70% -0.78% 1.53%
Solactive US Cum. Div
Index - Series 20271
  1.81% -0.21%  

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. 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.

Dividend Distributions

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

There is no guarantee that distributions will be made.

Fund Details

Ticker IDIV
CUSIP 59140l1008
ISIN US59140l1008
Inception Date 02/05/2018
Exchange NYSE Arca
No. of Holdings 21
Management Fee 0.58%
Total Expenses 0.81%
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 Price1 ($) YoY Div. Growth Consensus
Compounded Annual Growth Rate:
45-Year Historical Annual Growth Rate: 6.35%

as of

1The 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.