US Equity Ex-Dividends Fund-Series 2027

XDIV
  • 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

Fund Summary

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.

Why XDIV

  • 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.

  • Passive investment

Pricing

As of 06/29/2021 Level Daily
Change ($)
Daily
Change (%)
Premium/
Discount to NAV
XDIV NAV $96.08 $-0.06 -0.06%  
XDIV Price $96.20 $0.21 0.22% 0.12%
SOXDIV27 $96.03      

All fund data as of previous market close unless otherwise noted

Performance History

Month-End
as of 05/31/2021
Year-to-Date 1 Month 3 Month 6 Month 12 Month Since Inception2
XDIV NAV
XDIV Price
S&P 500 Index 86.13%
SOXDIV271 23.62% 7.71% 5.15% 10.53% 45.05% 98.52%
Quarter-End
as of 03/31/2021
Year-to-Date   3 Month 6 Month 12 Month Since Inception2
XDIV NAV   33.10%
XDIV Price   32.61%
S&P 500 Index   31.31% 73.94%
SOXDIV271 14.77%   0.06% 8.42% 31.53% 84.31%

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.

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.
  • The value of the Fund may decrease due to decreases in share price of the Fund.

An active secondary market for the Fund shares may not exist. Although XDIV 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.

CME GROUP MARKET DATA IS USED UNDER LICENSE AS A SOURCE OF INFORMATION FOR CERTAIN METAURUS ADVISORS LLC PRODUCTS. CME GROUP HAS NO OTHER CONNECTION TO METAURUS ADVISORS LLC PRODUCTS AND SERVICES AND DOES NOT SPONSOR, ENDORSE, RECOMMEND OR PROMOTE ANY METAURUS ADVISORS LLC PRODUCTS OR SERVICES. CME GROUP HAS NO OBLIGATION OR LIABILITY IN CONNECTION WITH THE METAURUS ADVISORS LLC PRODUCTS AND SERVICES. CME GROUP DOES NOT GUARANTEE THE ACCURACY AND/OR THE COMPLETENESS OF ANY MARKET DATA LICENSED TO METAURUS ADVISORS LLC AND SHALL NOT HAVE ANY LIABILITY FOR ANY ERRORS, OMISSIONS, OR INTERRUPTIONS THEREIN. THERE ARE NO THIRD PARTY BENEFICIARIES OF ANY AGREEMENTS OR ARRANGEMENTS BETWEEN CME GROUP AND METAURUS ADVISORS LLC.