US Equity Cumulative Dividends Fund-Series 2027

IDIV
  • S&P 500 Dividend Cash Flows

  • No Stock Price Exposure

  • Potential Dividend Growth

  • Monthly Distributions

Learn More 866-395-0079 MetaurusFunds@seic.com

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 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.

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 06/25/2021 Level Daily
Change ($)
Daily
Change (%)
Premium/
Discount to NAV
IDIV NAV TBD TBD TBD  
IDIV Price TBD TBD TBD TBD
SOIDIV27 (Adjusted) $10.24      
SOIDIV27 $10.81      

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.

Performance History

Month-End
as of 05/31/2021
Year-to-Date 1 Month 3 Month 6 Month 12 Month Since Inception2
IDIV NAV
IDIV Closing Price
SOIDIV271 26.25% 16.88%
Quarter-End
as of 03/31/2021
Year-to-Date   3 Month 6 Month 12 Month Since Inception2
IDIV NAV   20.18%
IDIV Closing Price   19.79%
SOIDIV271 12.73%   5.01% 12.73% 21.09% 13.64%

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.

Distributions4

Ex-Date Record Date Payable Date Amount Type5 Qualified Notice
1/28/2021 1/29/2021 2/1/2021 $0.095 Return of Basis
2/25/2021 2/26/2021 3/1/2021 $0.13 Return of Basis
3/30/2021 3/31/2021 4/1/2021 $0.1275 Return of Basis
4/29/2021 4/30/2021 5/3/2021 $0.0825 Return of Basis
5/27/2021 5/28/2021 6/1/2021 $0.14 Return of Basis
6/29/2021 6/30/2021 7/1/2021 $0.1175 Return of Basis
7/29/2021 7/30/2021 8/2/2021 $0.085 Return of Basis
8/30/2021 8/31/2021 9/1/2021 $0.145 Return of Basis
9/29/2021 9/30/2021 10/1/2021 $0.1175 Return of Basis
10/28/2021 10/29/2021 11/1/2021 $0.0925 Return of Basis
11/29/2021 11/30/2021 12/1/2021 $0.1475 Return of Basis
12/30/2021 12/31/2021 1/3/2022

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 2020 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 $26,392,572.28
Shares Outstanding 2,650,000
Daily Volume 56,691

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.

Fund Holdings

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.

 

SEI Investments Distribution Co. (1 Freedom Valley Drive, Oaks, PA, 19456) is the distributor for the Metaurus Advisors LLC funds. Check the background of SIDCO and Metaurus Advisors’ Representatives on FINRA’s BrokerCheck.

Carefully consider the Fund's investment objectives, risk factors, charges and expenses before investing. This and additional information can be found in the Fund's prospectus, which may be obtained by clicking on the prospectus link. Please read the prospectus carefully before investing.

The shares are speculative securities and investing in them involves risk, including possible loss of principal. Other risk considerations are:

  • There is no guarantee that a fund will meet its investment objective.
  • The Funds primarily invest in futures, which can be volatile. Even a small movement in market prices could cause large losses.
  • Restrictions on redemptions may affect your ability to withdraw your participation in the Funds. Because the Funds have designated maturity dates, new investors may elect not to invest in a Fund as it nears maturity and existing investors may elect to sell their Shares or redeem through an Authorized Participant. As a result, the size of each Fund may decrease as it nears maturity and the impact of fund expenses could increase as a result.
  • There is no guarantee that distributions will be made.
  • The value of the Fund may decrease due to decreases in actual dividends or share price of the Fund.

An active secondary market for the Fund shares may not exist. Although IDIV will be listed on an exchange, subject to notice of issuance, it is possible that an active trading market may not develop or be maintained.

Shares are bought and sold at market price (not NAV) and are not individually redeemed from the Funds other than in large Creation Unit aggregations. Instead, investors must buy or sell shares of the Fund in the secondary market with the assistance of a broker. As with all securities, buying and selling shares of Funds will result in brokerage commissions and will generate tax consequences. Brokerage commissions will reduce returns.

The Funds are not sponsored, promoted, sold or supported in any other manner by Solactive AG nor does Solactive AG offer any express or implicit guarantee or assurance either with regard to the results of using the Metaurus U.S. Dividend and Ex-Dividend Indexes and/or Index trade mark or the Index Price at any time or in any other respect. These Metaurus/Solactive Indexes are calculated, maintained and published by Solactive AG. Solactive AG uses its best efforts to ensure that the Indexes are calculated correctly. Irrespective of its obligations towards Metaurus, Solactive AG has no obligation to ensure that the Indexes are error-free. Neither publication of the U.S. Dividend and Ex-Dividend Indexes by Solactive AG nor the licensing of the U.S. Dividend and Ex-Dividend Indexes trademark for the purpose of use in connection with the Funds constitutes a recommendation by Solactive AG to invest capital in the Funds nor does it in any way represent an assurance or opinion of Solactive AG with regard to any investment in this Fund. Solactive has licensed use of the Index to Metaurus for use with the Funds.

The Funds are not investment companies registered under the Investment Company Act of 1940 and are not afforded the protections of the 1940 Act.

Index returns are for illustrative purposes only and do not represent actual Fund performance. Index performance returns do not reflect any management fees, transaction costs or expenses. Indexes are unmanaged and one cannot invest directly in an index. Past performance does not guarantee future results.

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