US Equity Cumulative Dividends Fund-Series 2027
S&P 500 Dividend Cash Flows
No Stock Price Exposure
Potential Dividend Growth
Learn More 866-395-0079 MetaurusFunds@seic.com
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 Metaurus 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.
No stock price exposure
Potential dividend growth
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.
|As of 06/25/2021||Level||Daily
Discount to NAV
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 Metaurus 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.
as of 05/31/2021
|Year-to-Date||1 Month||3 Month||6 Month||12 Month||Since Inception2|
|IDIV Closing Price|
as of 03/31/2021
|Year-to-Date||3 Month||6 Month||12 Month||Since Inception2|
|IDIV Closing Price||19.79%|
1The Metaurus 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
Beginning February 8, 2021, market price returns are based on the official closing price of an ETF share or, if the official closing price isn't available, the midpoint between the national best bid and national best offer (“NBBO”) as of the time the ETF calculates current NAV per share. Prior to February 8, 2021, market price returns were based on the midpoint between the Bid and Ask price. NAVs are calculated using prices as of 4:00 PM Eastern Time. The returns shown do not represent the returns you would receive if you traded shares at other times.
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.
|No. of Holdings||21|
|Total Expense Ratio||0.87%|
S&P 500 Dividend Futures Table
|S&P 500 Dividend Futures Contract||Year End||Contract Price3 ($)||YoY Div. Growth Consensus|
|Compounded Annual Growth Rate:||1.71%|
|45-Year Historical Annual Growth Rate:||6.35%|
as of 06/25/2021
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.
Q3 2021 10Q Filing
Q3 2021 10Q XBRL Files
Q2 2021 10Q Filing
Q2 2021 10Q XBRL Files
Q1 2021 10Q Filing
Q1 2021 10Q XBRL Files
2020 Form 10-K Annual Report Filing
2020 Form 10-K XBRL Files
Q3 2020 10Q Filing
Q3 2020 10Q XBRL Files
Q2 2020 10Q Filing
Q2 2020 10Q XBRL Files
2019 Form 10-K/A
2019 Form 10-K/A XBRL Files
Q1 2020 10Q Filing
Q1 2020 10Q XBRL Files
2019 Form 10-K Annual Report Filing
2019 Form 10-K XBRL Files
Q3 2019 10Q Filing
Q3 2019 10Q XBRL Files
Q2 2019 10Q Filing
Q2 2019 10Q XBRL Files
Q1 2019 10Q Filing
Q1 2019 10Q XBRL Files
2018 Form 10-K Annual Report Filing
2018 Form 10-K XBRL Files
Q3 2018 10Q Filing
Q3 2018 10Q XBRL Files
Q2 2018 10Q Filing
Q2 2018 10Q XBRL Files
Q1 2018 10Q Filing
Q1 2018 10Q XBRL Files
|Security||CUSIP / Bloomberg Identifier||CME Product Code||Quantity||Notional Value|
Holdings are subject to change. The creation or redemption of the fund’s shares requires Authorized Participants to include the above listed CME futures contracts as a component of the required Deposit Instruments.