Distillate International Fundamental Stability & Value ETF

DSTX

Distillate International Fundamental Stability & Value ETF

The world economy has undergone profound changes over the last several decades, and we believe accounting rules have not kept up. This has rendered many traditional measures of value, quality, and risk unhelpful.

Distillate Capital has developed customized measures of value and quality, drawing on our decades of experience as fundamental investors, that are particularly relevant to today’s long-term investors interested in international markets. We utilize these measures in our investment process to exploit behavioral biases and minimize risk by eliminating stocks that are expensive, have volatile fundamentals, or are significantly indebted.

  • International focus: seeks to deliver exposure to non-U.S. companies in both developed and developing international markets.
  • Rationally-defined value: utilizes Distillate Capital’s proprietary normalized cash yield methodology, which focuses on the through-cycle durability of a company’s cash generation and indebtedness.
  • Rationally-defined quality: focuses on long-term fundamental stability and leverage rather than short-term price volatility.
  • Rationally-defined risk: is a combination of quality and the price paid, rather than a function of short-term stock price fluctuations.

DSTX is designed to offer investors exposure to an attractively valued portfolio of approximately 100 non-U.S. large- and mid-cap stocks that meet specific parameters including free cash flow-based valuation, long-term fundamental stability and balance sheet quality.

FUND DATA & PRICING
Net Assets as of 12/02/2022 $14.81m
NAV $21.16
Shares Outstanding 700,000
Premium/discount Percentage 0.71%
Closing Price $21.31
Median 30-Day Bid/Ask Spread 0.44%

Data as of 12/02/2022

Median 30 Day Spread is a calculation of Fund’s median bid-ask spread, expressed as a percentage rounded to the nearest hundredth, computed by: identifying the Fund’s national best bid and national best offer as of the end of each 10 second interval during each trading day of the last 30 calendar days; dividing the difference between each such bid and offer by the midpoint of the national best bid and national best offer; and identifying the median of those values.

PERFORMANCE Quarter end returns as of 09/30/2022
  AVG. ANNUALIZED
  Quarter 1 Year 3 Year Since Inception
Fund NAV -12.70% -26.257% xx.xx% -14.777%
Market Price -13.159% -26.189% xx.xx% -14.772
Morningstar Global Markets ex-US® Index -9.467% -25.341% xx.xx% -10.588%

Expense ratio: 0.55%

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. The NAV of the Fund’s shares is calculated each day the national securities exchanges are open for trading as of the close of regular trading on the New York Stock Exchange (“NYSE”), normally 4:00 p.m. Eastern time (the “NAV Calculation Time”). Shares are bought and sold at the market price, not NAV. Market price returns are based on either or both of the last trade of the day before the close of regular trading or the midpoint of the bid/ask spread at 4:00 pm Eastern Time (when NAV is normally determined). Performance current to the most recent month-end can be obtained by calling 1-800-617-0004.

Short term performance, in particular, is not a good indication of the fund's future performance, and an investment should not be made based solely on returns.

DISTRIBUTION DETAIL
EX- Date Record Date Payable Date Amount Type
12/29/2020 12/30/2020 12/31/2020 $0.018675 Div Income
3/24/2021 3/25/2021 3/26/2021 $0.052385 Div Income
6/23/2021 6/24/2021 6/25/2021 $0.283295 Div Income
9/22/2021 9/23/2021 9/24/2021 $0.088672 Div Income
12/22/2021 12/23/2021 12/27/2021 $0.152516 Div Income
3/23/2022 3/24/2022 3/25/2022 $0.063944 Div Income
6/22/2022 6/23/2022 6/24/2022 $0.244983 Div Income
9/21/2022 9/22/2022 9/23/2022 $0.182316 Div Income
TOP 10 HOLDINGS Download Full Holdings
Percentage Of Net Assets Name Identifier Shares Held Market Value
3.22% LVMH MOET HENNESSY MC FP 637 477,221.27
3.18% SAMSUNG ELECTRONIC SMSN LI 407 470,288.50
2.83% ALIBABA GROUP HLDG 9988 HK 38,500 419,443.32
2.60% ROCHE HLDG LTD RHHBY 9,361 384,549.88
2.03% CHINA SHENHUA ENERGY 1088 HK 104,000 301,298.23
1.77% UNILEVER PLC UL 5,103 262,804.50
1.74% VINCI DG FP 2,511 258,387.45
1.74% NIPPON TEL&TEL CP 9432 JP 9,400 258,322.20
1.59% KERING KER FP 403 236,239.49
1.55% INDITEX ITX SM 8,647 229,037.41
Data as of 12/05/2022. Holdings are subject to change at any time and should not be considered a recommendation to buy or sell any security.