US Equity Ex-Dividends Fund-Series 2027
Index Exposure at a Lower Initial Purchase Price
Stock Price Returns
Initial 10-Year Life
The Metaurus US Equity Ex-Dividend Fund – Series 2027 (XDIV) will be closed and liquidated in December 2021. Please see press release for details.
Learn More 866-395-0079 MetaurusFunds@seic.com
XDIV seeks investment results that, before fees and expenses, correspond to the performance of the Metaurus Ex-Dividend Index so as to provide investors with returns that replicate the SPDR S&P 500 ETF (SPY), less the value of current and future expected dividends paid by S&P 500 companies over the term of the fund.
Essentially, XDIV provides investors with only the price exposure of the S&P 500 by foregoing the dividends, which results in a reduced capital investment at the time of initial purchase. This is expected to provide returns that differ, possibly materially, from a similar investment in SPY. XDIV has an initial 10-year life and does not use leverage.
SPY “beta” exposure at a reduced capital investment compared to buying straight index exposure creates “Structural Alpha” without use of leverage.
Can achieve greater equity index exposure per dollar invested, compared to a traditional index fund.
|As of 06/29/2021||Level||Daily
Discount to NAV
All fund data as of previous market close unless otherwise noted
as of 05/31/2021
|Year-to-Date||1 Month||3 Month||6 Month||12 Month||Since Inception2|
|S&P 500 Index||86.13%|
as of 03/31/2021
|Year-to-Date||3 Month||6 Month||12 Month||Since Inception2|
|S&P 500 Index||31.31%||73.94%|
1The Metaurus U.S. Equity Ex-Dividends Index – Series 2027 (the “Ex-Dividends Index”, the “Index”) is an Index of Solactive AG and is calculated and distributed by Solactive AG. The Ex-Dividends Index aims to represent the current value of 0.25 shares of SPDR S&P 500 ETF (“SPY”), less the current value of ordinary cash dividends expected to be paid on the S&P 500 Index until the Fund’s maturity as represented by the Solactive U.S. Equity Cumulative Dividends Index - Series 2027 (the “Dividend Index”). The Dividend Index aims to represent the discounted present value of all listed annual S&P 500 Dividend Index Futures contracts (“S&P 500 Dividend Futures Contracts”) out to and including the December 2027 dividends futures expiry. The Index is a price only index. 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||13|
|Total Expense Ratio||0.58%|
Q3 2021 10Q Filing
Q3 2021 10Q XBRL Files
2021 8K Filing
2021 8K 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.