F/m 2-Year Investment Grade Corporate Bond ETF (ZTWO)

An ETF Designed to Equitize 2-Year Investment Grade Corporate Bonds

Potential Benefits

1
ZTWO aims to provide exposure to the most recent current coupon investment grade corporate bonds, with the ease and efficiency of an ETF.
2
ZTWO aims to make monthly dividend payments, more frequent than those of the underlying bonds.
3
Minimize transaction costs and the operational burden required to continually maintain 2-year maturity and enjoy the potential tax efficiencies of an ETF.

Overview

Investment Objective

The investment objective of the F/m 2-Year Investment Grade Corporate Bond ETF (the “F/m 2-Year Bond ETF”) is to seek investment results that correspond (before fees and expenses) generally to the price and yield performance of the ICE 2-Year Target Maturity Index.

Underlying Bonds

  • The most recent current coupon investment grade corporate bonds available in the 2-year maturity.

  • Monthly rebalances to maintain 2-year maturity term and participation in new issue market to capture current market coupon and for optimal liquidity.

Fund Facts

As of 04/12/2024
Ticker ztwo
Exchange NYSE Arca
CUSIP 74933W429
Inception Date 01/10/2024
# of Holdings 397
Expense Ratio 0.15%
Management Fees & Expenses 0.15%
Leverage None
Net Assets $9.95M
Shares Outstanding 200,000
NAV $49.78
Closing Price $49.82
Median 30 Day Spread 0.04%
Premium / Discount 0.09%
30-Day Yield * 5.23%
-- --
*Yield
As of 03/31/2024
Type Declaration Date Ex Date Record Date Payable Date Dividend Declared (per share)
02/29/202403/01/202403/04/202403/05/2024$0.26312100
03/28/202404/01/202404/02/202404/03/2024$0.19777240
04/30/202405/01/202405/02/202405/03/2024$x
05/31/202406/03/202406/03/202406/04/2024$x
06/28/202407/01/202407/01/202407/02/2024$x
07/31/202408/01/202408/01/202408/02/2024$x
08/30/202409/03/202409/03/202409/04/2024$x
09/30/202410/01/202410/01/202410/02/2024$x
10/31/202411/01/202411/01/202411/04/2024$x
11/29/202412/02/202412/02/202412/03/2024$x
12/27/202412/30/202412/30/202412/31/2024$x
12/27/202412/30/202412/30/202412/31/2024$x

Performance

Market Price Performance

Quarter-end Performance

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. 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. Market price is the price at which shares in the ETF can be bought or sold on the exchanges during trading hours, while the net asset value (NAV) represents the value of each share’s portion of the fund’s underlying assets and cash at the end of the trading day.

Top Holdings

As of 04/15/2024
Name Symbol Par Value Market Value Weightings (%)
3M Co 2.25% 09/19/202688579YAV325,000.00$23,238.530.23%
General Mills Inc 5.241% 11/18/2025370334CS123,000.00$22,920.110.23%
Glencore Funding LLC 1.625% 04/27/2026378272BD925,000.00$23,110.230.23%
Bank of New York Mellon Corp/The 4.947% 04/26/202706406RBQ923,000.00$22,808.690.23%
Sydney Airport Finance Co Pty Ltd 3.625% 04/28/202687124VAF625,000.00$24,009.560.24%
Carrier Global Corp 5.8% 11/30/202514448CBB924,000.00$24,081.900.24%
Take-Two Interactive Software Inc 5% 03/28/2026874054AJ824,000.00$23,776.780.24%
Tanger Properties LP 3.125% 09/01/2026875484AJ626,000.00$24,217.400.24%
US Bancorp 5.727% 10/21/202691159HJH424,000.00$24,037.030.24%
Dell International LLC / EMC Corp 6.02% 06/15/202624703TAD824,000.00$24,184.220.24%
Ventas Realty LP 4.125% 01/15/202692277GAG225,000.00$24,335.160.24%
Devon Energy Corp 5.85% 12/15/202525179MAV524,000.00$24,082.130.24%
Visa Inc 3.15% 12/14/202592826CAD425,000.00$24,221.310.24%
Keurig Dr Pepper Inc 3.4% 11/15/202526138EAS825,000.00$24,199.940.24%
Voya Financial Inc 3.65% 06/15/2026929089AB625,000.00$23,991.050.24%
Electricite de France SA 3.625% 10/13/2025268317AS325,000.00$24,306.340.24%
ERAC USA Finance LLC 3.8% 11/01/202526884TAP725,000.00$24,307.690.24%
Enbridge Energy Partners LP 5.875% 10/15/202529250RAW624,000.00$24,070.080.24%
Enterprise Products Operating LLC 3.7% 02/15/202629379VBH525,000.00$24,353.370.24%
Exxon Mobil Corp 3.043% 03/01/202630231GAT925,000.00$24,120.410.24%
FMC Corp 5.15% 05/18/2026302491AW524,000.00$23,751.700.24%
GLP Capital LP / GLP Financing II Inc 5.375% 04/15/2026361841AH224,000.00$23,717.180.24%
General Motors Co 6.125% 10/01/202537045VAV224,000.00$24,116.510.24%
Gilead Sciences Inc 3.65% 03/01/2026375558BF925,000.00$24,254.430.24%
HF Sinclair Corp 5.875% 04/01/2026403949AB624,000.00$24,079.460.24%
HCA Inc 5.875% 02/15/2026404119BS724,000.00$24,034.110.24%
Hewlett Packard Enterprise Co 4.9% 10/15/202542824CAW924,000.00$23,760.380.24%
Home Depot Inc/The 3% 04/01/2026437076BM325,000.00$24,037.530.24%
Illumina Inc 5.8% 12/12/2025452327AN924,000.00$23,970.290.24%
Intuit Inc 5.25% 09/15/202646124HAE624,000.00$24,103.140.24%
Jersey Central Power & Light Co 4.3% 01/15/2026476556DC625,000.00$24,365.530.24%
Kilroy Realty LP 4.375% 10/01/202549427RAL625,000.00$24,363.410.24%
Lennar Corp 5.25% 06/01/2026526057CT924,000.00$23,869.060.24%
Lockheed Martin Corp 3.55% 01/15/2026539830BH125,000.00$24,321.040.24%
Mattel Inc 3.375% 04/01/2026577081BE125,000.00$23,847.990.24%
MetLife Inc 3.6% 11/13/202559156RBQ025,000.00$24,339.850.24%
Nasdaq Inc 3.85% 06/30/2026631103AG325,000.00$24,220.810.24%
NNN REIT Inc 4% 11/15/2025637417AH925,000.00$24,375.240.24%
Nissan Motor Acceptance Co LLC 1.85% 09/16/202665480CAC927,000.00$24,387.380.24%
Corebridge Global Funding 5.75% 07/02/202600138CAU224,000.00$23,933.070.24%
Aon Global Ltd 3.875% 12/15/202500185AAK025,000.00$24,362.490.24%
Allied World Assurance Co Holdings Ltd 4.35% 10/29/202501959EAC225,000.00$24,325.300.24%
American Honda Finance Corp 5.8% 10/03/202502665WEQ024,000.00$24,123.460.24%
Amphenol Corp 4.75% 03/30/2026032095AM324,000.00$23,756.380.24%
Apollo Management Holdings LP 4.4% 05/27/202603765HAB725,000.00$24,367.740.24%
Apple Inc 3.25% 02/23/2026037833BY525,000.00$24,195.720.24%
PepsiCo Inc 5.25% 11/10/2025713448FV524,000.00$24,073.120.24%
Pioneer Natural Resources Co 5.1% 03/29/2026723787AV924,000.00$23,855.420.24%
Ares Finance Co III LLC 4.125% 06/30/205104018VAA126,000.00$23,896.520.24%
AstraZeneca PLC 3.375% 11/16/2025046353AL225,000.00$24,302.490.24%
Booking Holdings Inc 3.6% 06/01/2026741503AZ925,000.00$24,179.670.24%
BAE Systems Holdings Inc 3.85% 12/15/202505523UAP525,000.00$24,334.890.24%
Regal Rexnord Corp 6.05% 02/15/2026758750AC724,000.00$24,041.650.24%
Bank of Montreal 5.3% 06/05/202606368LNT924,000.00$23,953.880.24%
Reinsurance Group of America Inc 3.95% 09/15/2026759351AM125,000.00$24,284.250.24%
Black Hills Corp 3.95% 01/15/2026092113AL325,000.00$24,270.230.24%
Sabine Pass Liquefaction LLC 5.875% 06/30/2026785592AV824,000.00$24,083.380.24%
Block Financial LLC 5.25% 10/01/2025093662AG924,000.00$23,837.230.24%
Boardwalk Pipelines LP 5.95% 06/01/2026096630AE824,000.00$24,123.100.24%
Boeing Co/The 2.196% 02/04/2026097023DG726,000.00$24,237.180.24%
BorgWarner Inc 5% 10/01/2025099724AM824,000.00$23,659.160.24%
Simon Property Group LP 3.3% 01/15/2026828807CW525,000.00$24,098.370.24%
Brookfield Finance Inc 4.25% 06/02/202611271LAA025,000.00$24,381.740.24%
CGI Inc 1.45% 09/14/202612532HAC827,000.00$24,505.030.25%
Sprint LLC 7.625% 03/01/202685207UAK124,000.00$24,698.090.25%
CMS Energy Corp 3% 05/15/2026125896BQ226,000.00$24,672.810.25%
Stanley Black & Decker Inc 3.4% 03/01/2026854502AK726,000.00$25,053.350.25%
State Street Corp 5.272% 08/03/2026857477CD325,000.00$24,993.320.25%
CSX Corp 3.35% 11/01/2025126408HD826,000.00$25,217.420.25%
Campbell Soup Co 5.3% 03/20/2026134429BL225,000.00$24,911.830.25%
TD SYNNEX Corp 1.75% 08/09/202687162WAF727,000.00$24,617.350.25%
Canadian National Railway Co 2.75% 03/01/2026136375CJ926,000.00$24,928.240.25%
Sysco Corp 3.3% 07/15/2026871829BC026,000.00$24,863.300.25%
TJX Cos Inc/The 2.25% 09/15/2026872540AQ226,000.00$24,394.380.25%
CenterPoint Energy Inc 1.45% 06/01/202615189TBA427,000.00$24,852.350.25%
Target Corp 2.5% 04/15/202687612EBE526,000.00$24,843.190.25%
Chevron Corp 2.954% 05/16/2026166764BL326,000.00$24,918.490.25%
Teledyne Technologies Inc 1.6% 04/01/2026879360AC927,000.00$25,078.620.25%
Cisco Systems Inc 2.5% 09/20/202617275RBL526,000.00$24,525.200.25%
Texas Instruments Inc 1.125% 09/15/2026882508BK927,000.00$24,569.250.25%
Citigroup Inc 1.462% 06/09/2027172967NA527,000.00$24,700.080.25%
Textron Inc 4% 03/15/2026883203BW026,000.00$25,284.020.25%
Cleco Corporate Holdings LLC 3.743% 05/01/202618551PAC326,000.00$24,952.650.25%
Thermo Fisher Scientific Inc 4.953% 08/10/2026883556CV225,000.00$24,901.200.25%
Coca-Cola Consolidated Inc 3.8% 11/25/2025191098AK825,000.00$24,403.810.25%
Thomson Reuters Corp 3.35% 05/15/2026884903BV626,000.00$24,958.190.25%
Colonial Pipeline Co 3.75% 10/01/2025195869AP726,000.00$25,320.460.25%
Colorado Interstate Gas Co LLC / Colorado Interstate Issuing Corp 4.15% 08/15/2026196500AA026,000.00$25,099.120.25%
Toronto-Dominion Bank/The 5.532% 07/17/202689115A2S025,000.00$25,091.940.25%
Columbia Pipelines Holding Co LLC 6.055% 08/15/202619828AAA525,000.00$25,118.740.25%
Toyota Motor Credit Corp 4.45% 05/18/202689236TKT125,000.00$24,651.180.25%
CommonSpirit Health 1.547% 10/01/202520268JAE327,000.00$25,384.110.25%
Transurban Finance Co Pty Ltd 4.125% 02/02/202689400PAE326,000.00$25,264.390.25%
Commonwealth Bank of Australia 1.125% 06/15/20262027A0KD027,000.00$24,723.040.25%
Triton Container International Ltd 2.05% 04/15/202689680YAA327,000.00$24,862.470.25%
Concentrix Corp 6.65% 08/02/202620602DAA925,000.00$25,190.320.25%
Truist Financial Corp 6.047% 06/08/202789788MAN225,000.00$25,152.350.25%
Constellation Brands Inc 5% 02/02/202621036PBN725,000.00$24,760.110.25%
COPT Defense Properties LP 2.25% 03/15/202622003BAL027,000.00$25,303.750.25%
Tyson Foods Inc 4% 03/01/2026902494BJ126,000.00$25,275.460.25%
Cox Communications Inc 3.35% 09/15/2026224044CG026,000.00$24,739.150.25%
UDR Inc 2.95% 09/01/202690265EAL426,000.00$24,449.090.25%
Union Pacific Corp 2.75% 03/01/2026907818EH726,000.00$24,878.830.25%
CubeSmart LP 3.125% 09/01/202622966RAD826,000.00$24,579.330.25%
UnitedHealth Group Inc 1.15% 05/15/202691324PEC227,000.00$24,871.390.25%
DR Horton Inc 2.6% 10/15/202523331ABN826,000.00$24,851.750.25%
Universal Health Services Inc 1.65% 09/01/2026913903AZ327,000.00$24,522.980.25%
DXC Technology Co 1.8% 09/15/202623355LAL027,000.00$24,526.330.25%
Veralto Corp 5.5% 09/18/202692338CAA125,000.00$24,933.640.25%
Verizon Communications Inc 1.45% 03/20/202692343VGG327,000.00$25,104.960.25%
VICI Properties LP / VICI Note Co Inc 4.5% 09/01/202692564RAH826,000.00$25,110.650.25%
Dover Corp 3.15% 11/15/2025260003AM026,000.00$25,085.320.25%
Virginia Electric and Power Co 3.15% 01/15/2026927804FU326,000.00$25,020.130.25%
DuPont de Nemours Inc 4.493% 11/15/202526078JAC425,000.00$24,608.030.25%
VMware LLC 1.4% 08/15/2026928563AJ427,000.00$24,570.040.25%
Vontier Corp 1.8% 04/01/2026928881AB727,000.00$25,011.460.25%
Duke Energy Corp 2.65% 09/01/202626441CAS426,000.00$24,440.090.25%
EOG Resources Inc 4.15% 01/15/202626875PAP625,000.00$24,556.640.25%
Walmart Inc 1.05% 09/17/2026931142ER027,000.00$24,639.440.25%
Waste Management Inc 0.75% 11/15/202594106LBL227,000.00$25,138.520.25%
eBay Inc 1.4% 05/10/2026278642AX127,000.00$24,892.760.25%
Welltower OP LLC 4.25% 04/01/202695040QAC826,000.00$25,388.170.25%
Element Fleet Management Corp 6.271% 06/26/2026286181AH525,000.00$25,181.650.25%
Western Midstream Operating LP 4.65% 07/01/2026958254AF125,000.00$24,421.380.25%
Emera US Finance LP 3.55% 06/15/202629103DAJ526,000.00$24,841.380.25%
Western Union Co/The 1.35% 03/15/2026959802AZ227,000.00$24,869.650.25%
Energy Transfer LP 4.75% 01/15/202629273RBG325,000.00$24,623.750.25%
Westpac Banking Corp 2.85% 05/13/2026961214CX926,000.00$24,826.100.25%
EnLink Midstream Partners LP 4.85% 07/15/202629336UAF425,000.00$24,399.980.25%
Woodside Finance Ltd 3.7% 09/15/2026980236AN326,000.00$24,777.630.25%
Equifax Inc 2.6% 12/15/2025294429AR626,000.00$24,756.140.25%
Yara International ASA 3.8% 06/06/2026984851AD726,000.00$24,924.590.25%
Equinix Inc 1.45% 05/15/202629444UBQ827,000.00$24,769.300.25%
Zimmer Biomet Holdings Inc 3.05% 01/15/202698956PAS126,000.00$24,902.740.25%
Zoetis Inc 4.5% 11/13/202598978VAK925,000.00$24,645.940.25%
Equitable Financial Life Global Funding 1.3% 07/12/202629449W7M328,000.00$25,327.950.25%
Essex Portfolio LP 3.375% 04/15/202629717PAQ026,000.00$24,928.750.25%
Exelon Corp 3.4% 04/15/202630161NAU526,000.00$25,025.210.25%
Expedia Group Inc 5% 02/15/202630212PAM725,000.00$24,767.610.25%
Extra Space Storage LP 3.5% 07/01/202630225VAL126,000.00$24,853.630.25%
FS KKR Capital Corp 3.4% 01/15/2026302635AG226,000.00$24,590.230.25%
F&G Global Funding 1.75% 06/30/202630321L2A928,000.00$25,371.530.25%
Federal Realty OP LP 1.25% 02/15/2026313747BB227,000.00$24,961.860.25%
FedEx Corp 3.25% 04/01/202631428XBF226,000.00$25,070.520.25%
Fidelity National Information Services Inc 1.15% 03/01/202631620MBR627,000.00$24,922.980.25%
Fiserv Inc 3.2% 07/01/2026337738AT526,000.00$24,796.360.25%
Flex Ltd 3.75% 02/01/202633938XAC926,000.00$25,098.270.25%
Fortinet Inc 1% 03/15/202634959EAA727,000.00$24,789.980.25%
Fortive Corp 3.15% 06/15/202634959JAG326,000.00$24,882.650.25%
GA Global Funding Trust 1.625% 01/15/202636143L2A227,000.00$25,001.310.25%
GATX Corp 3.25% 09/15/2026361448AY926,000.00$24,686.700.25%
GXO Logistics Inc 1.65% 07/15/202636262GAB727,000.00$24,618.740.25%
General Dynamics Corp 1.15% 06/01/2026369550BN727,000.00$24,808.910.25%
Genpact Luxembourg SARL/Genpact USA Inc 1.75% 04/10/202637190AAA727,000.00$25,075.030.25%
Global Payments Inc 1.2% 03/01/202637940XAE227,000.00$24,918.780.25%
Goldman Sachs BDC Inc 2.875% 01/15/202638147UAD926,000.00$24,791.680.25%
Goldman Sachs Bank USA/New York NY 5.283% 03/18/202738151LAF725,000.00$24,861.030.25%
Graphic Packaging International LLC 1.512% 04/15/202638869PAP927,000.00$24,953.020.25%
Gray Oak Pipeline LLC 2.6% 10/15/202538937LAC526,000.00$24,749.410.25%
Guardian Life Global Funding 0.875% 12/10/202540139LBC627,000.00$25,048.590.25%
Healthpeak OP LLC 3.25% 07/15/202640414LAQ226,000.00$24,758.170.25%
HP Inc 1.45% 06/17/202640434LAF227,000.00$24,827.560.25%
Halliburton Co 3.8% 11/15/2025406216BG526,000.00$25,387.120.25%
Hercules Capital Inc 2.625% 09/16/2026427096AH527,000.00$24,464.830.25%
Hershey Co/The 2.3% 08/15/2026427866AX627,000.00$25,352.470.25%
Highmark Inc 1.45% 05/10/2026431116AD427,000.00$24,572.870.25%
Host Hotels & Resorts LP 4.5% 02/01/202644107TAW626,000.00$25,380.450.25%
JB Hunt Transport Services Inc 3.875% 03/01/2026445658CF226,000.00$25,380.860.25%
Trane Technologies Financing Ltd 3.5% 03/21/2026456873AE826,000.00$25,072.160.25%
International Flavors & Fragrances Inc 1.23% 10/01/2025459506AN127,000.00$25,231.670.25%
Invesco Finance PLC 3.75% 01/15/202646132FAD226,000.00$25,229.640.25%
ITC Holdings Corp 3.25% 06/30/2026465685AK126,000.00$24,866.170.25%
Jabil Inc 1.7% 04/15/2026466313AL727,000.00$25,029.510.25%
JPMorgan Chase & Co 1.578% 04/22/202746647PCB027,000.00$24,948.240.25%
Johnson & Johnson 2.45% 03/01/2026478160BY926,000.00$24,840.900.25%
Johnson Controls International plc 3.9% 02/14/2026478375AR926,000.00$25,260.870.25%
Juniper Networks Inc 1.2% 12/10/202548203RAN427,000.00$25,051.110.25%
Kellanova 3.25% 04/01/2026487836BP226,000.00$25,019.180.25%
Kenvue Inc 5.35% 03/22/202649177JAD425,000.00$25,076.000.25%
KeySpan Gas East Corp 2.742% 08/15/202649338CAB927,000.00$25,105.690.25%
Kimberly-Clark Corp 2.75% 02/15/2026494368BU626,000.00$24,949.120.25%
Kraft Heinz Foods Co 3% 06/01/202650077LAD826,000.00$24,764.380.25%
Kroger Co/The 3.5% 02/01/2026501044DC226,000.00$25,166.790.25%
LYB International Finance III LLC 1.25% 10/01/202550249AAF027,000.00$25,322.070.25%
Laboratory Corp of America Holdings 1.55% 06/01/202650540RAX027,000.00$24,911.340.25%
Lam Research Corp 3.75% 03/15/2026512807AS726,000.00$25,301.420.25%
Loews Corp 3.75% 04/01/2026540424AS726,000.00$25,216.950.25%
Lowe's Cos Inc 2.5% 04/15/2026548661DM626,000.00$24,649.450.25%
MPLX LP 1.75% 03/01/202655336VBR027,000.00$25,173.120.25%
Macquarie Group Ltd 1.34% 01/12/202755608JAR927,000.00$24,999.340.25%
Main Street Capital Corp 3% 07/14/202656035LAE427,000.00$25,058.450.25%
Mars Inc 0.875% 07/16/2026571676AJ427,000.00$24,464.880.25%
Marsh & McLennan Cos Inc 3.75% 03/14/2026571748AZ526,000.00$25,301.410.25%
Marriott International Inc/MD 3.125% 06/15/2026571903AS226,000.00$24,802.030.25%
Marvell Technology Inc 1.65% 04/15/2026573874AC827,000.00$25,046.380.25%
McCormick & Co Inc/MD 0.9% 02/15/2026579780AR827,000.00$24,901.970.25%
McDonald's Corp 3.7% 01/30/202658013MEY626,000.00$25,341.440.25%
Merck & Co Inc 0.75% 02/24/202658933YAY127,000.00$24,972.260.25%
Micron Technology Inc 4.975% 02/06/2026595112BM425,000.00$24,767.470.25%
Mid-America Apartments LP 4% 11/15/202559523UAM925,000.00$24,465.870.25%
Molson Coors Beverage Co 3% 07/15/202660871RAG526,000.00$24,693.190.25%
Morgan Stanley 1.593% 05/04/202761772BAB927,000.00$24,877.240.25%
Mutual of Omaha Cos Global Funding 5.8% 07/27/202662829D2A725,000.00$25,094.310.25%
Utah Acquisition Sub Inc 3.95% 06/15/202662854AAN426,000.00$24,998.190.25%
NRG Energy Inc 2% 12/02/2025629377CN027,000.00$25,276.790.25%
NXP BV / NXP Funding LLC / NXP USA Inc 3.875% 06/18/202662954HAZ126,000.00$25,164.200.25%
New York Life Global Funding 5.45% 09/18/202664953BBF425,000.00$25,076.300.25%
Newmont Corp / Newcrest Finance Pty Ltd 5.3% 03/15/202665163LAN925,000.00$24,941.870.25%
Aflac Inc 1.125% 03/15/2026001055BK727,000.00$24,933.540.25%
NextEra Energy Capital Holdings Inc 4.95% 01/29/202665339KCS725,000.00$24,793.350.25%
AES Corp/The 1.375% 01/15/202600130HCE327,000.00$24,964.530.25%
Norfolk Southern Corp 2.9% 06/15/2026655844BS626,000.00$24,743.090.25%
AT&T Inc 1.7% 03/25/202600206RML327,000.00$25,164.500.25%
Northwestern Mutual Global Funding 0.8% 01/14/202666815L2A627,000.00$24,962.460.25%
AbbVie Inc 3.2% 05/14/202600287YAY526,000.00$24,985.260.25%
Novartis Capital Corp 3% 11/20/202566989HAJ726,000.00$25,202.500.25%
Chubb INA Holdings LLC 3.35% 05/03/202600440EAV926,000.00$25,017.340.25%
NVIDIA Corp 3.2% 09/16/202667066GAE426,000.00$24,992.480.25%
Agilent Technologies Inc 3.05% 09/22/202600846UAK726,000.00$24,654.750.25%
Nutrien Ltd 5.95% 11/07/202567077MAY425,000.00$25,145.480.25%
Air Lease Corp 2.875% 01/15/202600914AAJ126,000.00$24,759.560.25%
O'Reilly Automotive Inc 3.55% 03/15/202667103HAE726,000.00$25,116.590.25%
Air Products and Chemicals Inc 1.5% 10/15/2025009158BB126,000.00$24,602.550.25%
Aircastle Ltd 4.25% 06/15/202600928QAS026,000.00$25,171.180.25%
Old Republic International Corp 3.875% 08/26/2026680223AK026,000.00$24,997.730.25%
Alexandria Real Estate Equities Inc 3.8% 04/15/2026015271AP426,000.00$25,154.640.25%
Omnicom Group Inc / Omnicom Capital Inc 3.6% 04/15/202668217FAA026,000.00$25,161.930.25%
Allstate Corp/The 0.75% 12/15/2025020002BH327,000.00$24,980.150.25%
Oncor Electric Delivery Co LLC 0.55% 10/01/202568233JBZ627,000.00$25,218.680.25%
Alphabet Inc 1.998% 08/15/202602079KAC127,000.00$25,257.550.25%
Altria Group Inc 4.4% 02/14/202602209SBC625,000.00$24,533.510.25%
Amazon.com Inc 1% 05/12/2026023135BX327,000.00$24,870.280.25%
Amcor Finance USA Inc 3.625% 04/28/202602343UAG026,000.00$24,953.840.25%
Blue Owl Technology Finance Corp 4.75% 12/15/2025691205AC226,000.00$24,903.610.25%
Ameren Corp 3.65% 02/15/2026023608AG726,000.00$25,116.930.25%
Blue Owl Credit Income Corp 3.125% 09/23/202669120VAM327,000.00$24,687.700.25%
American Express Co 6.338% 10/30/2026025816DL025,000.00$25,239.210.25%
Blue Owl Capital Corp 3.4% 07/15/202669121KAE427,000.00$25,300.970.25%
PNC Financial Services Group Inc/The 4.758% 01/26/2027693475BL825,000.00$24,671.530.25%
American Tower Corp 1.6% 04/15/202603027XBL327,000.00$25,014.070.25%
PPG Industries Inc 1.2% 03/15/2026693506BU027,000.00$24,951.610.25%
Ameriprise Financial Inc 2.875% 09/15/202603076CAH926,000.00$24,630.120.25%
PPL Capital Funding Inc 3.1% 05/15/202669352PAL726,000.00$24,846.180.25%
PACCAR Financial Corp 4.45% 03/30/202669371RS4925,000.00$24,698.970.25%
Pacific Gas and Electric Co 2.95% 03/01/2026694308HP526,000.00$24,743.080.25%
Pacific Life Global Funding II 1.375% 04/14/20266944PL2E827,000.00$24,906.710.25%
Elevance Health Inc 1.5% 03/15/2026036752AR427,000.00$25,064.730.25%
PeaceHealth Obligated Group 1.375% 11/15/202570462GAB427,000.00$25,073.060.25%
Penske Truck Leasing Co Lp / PTL Finance Corp 1.7% 06/15/2026709599BM527,000.00$24,809.310.25%
Applied Materials Inc 3.9% 10/01/2025038222AJ425,000.00$24,532.620.25%
Pfizer Investment Enterprises Pte Ltd 4.45% 05/19/2026716973AB825,000.00$24,638.210.25%
Phillips 66 1.3% 02/15/2026718546AZ727,000.00$25,100.930.25%
Ares Capital Corp 3.875% 01/15/202604010LAZ626,000.00$25,070.420.25%
Linde Inc/CT 3.2% 01/30/202674005PBQ626,000.00$25,121.680.25%
Athene Global Funding 1.45% 01/08/202604685A2U427,000.00$25,049.330.25%
AutoZone Inc 5.05% 07/15/2026053332BE125,000.00$24,893.880.25%
Procter & Gamble Co/The 1% 04/23/2026742718FP927,000.00$24,997.690.25%
AvalonBay Communities Inc 2.95% 05/11/202605348EAX726,000.00$24,773.400.25%
Prologis LP 3.25% 06/30/202674340XBU426,000.00$24,925.930.25%
Aviation Capital Group LLC 1.95% 09/20/202605369AAL527,000.00$24,583.470.25%
Prospect Capital Corp 3.706% 01/22/202674348TAU626,000.00$24,629.180.25%
Public Service Electric and Gas Co 0.95% 03/15/202674456QCF127,000.00$24,979.150.25%
Avolon Holdings Funding Ltd 4.25% 04/15/202605401AAL526,000.00$25,050.610.25%
Public Storage Operating Co 0.875% 02/15/202674460WAA527,000.00$24,904.810.25%
BAT International Finance PLC 1.668% 03/25/202605530QAN027,000.00$25,087.510.25%
Quest Diagnostics Inc 3.45% 06/01/202674834LAZ326,000.00$24,999.170.25%
RTX Corp 5% 02/27/202675513ECQ225,000.00$24,857.620.25%
BMW US Capital LLC 2.8% 04/11/202605565EAH826,000.00$24,824.190.25%
Bain Capital Specialty Finance Inc 2.95% 03/10/202605684BAB327,000.00$25,334.470.25%
Reliance Standard Life Global Funding II 1.512% 09/28/202675951AAQ128,000.00$25,038.570.25%
BankUnited Inc 4.875% 11/17/202506652KAA126,000.00$25,308.500.25%
Rogers Communications Inc 3.625% 12/15/2025775109BE026,000.00$25,161.880.25%
Baxter International Inc 2.6% 08/15/2026071813BQ127,000.00$25,316.080.25%
Roper Technologies Inc 3.85% 12/15/2025776743AB225,000.00$24,403.830.25%
Berkshire Hathaway Inc 3.125% 03/15/2026084670BS626,000.00$25,071.840.25%
Ross Stores Inc 0.875% 04/15/2026778296AF027,000.00$24,737.930.25%
Berry Global Inc 1.57% 01/15/202608576PAH427,000.00$25,207.270.25%
Royal Bank of Canada 1.2% 04/27/202678016EZQ327,000.00$24,865.440.25%
Ryder System Inc 1.75% 09/01/202678355HKS727,000.00$24,760.350.25%
BlackRock TCP Capital Corp 2.85% 02/09/202609259EAB426,000.00$24,417.450.25%
Blackstone Secured Lending Fund 3.625% 01/15/202609261LAC226,000.00$24,802.600.25%
Scentre Group Trust 1 / Scentre Group Trust 2 3.625% 01/28/202680622GAD626,000.00$25,122.910.25%
Schlumberger Holdings Corp 4% 12/21/2025806851AG625,000.00$24,433.650.25%
Charles Schwab Corp/The 0.9% 03/11/2026808513BF127,000.00$24,801.690.25%
Sempra 5.4% 08/01/2026816851BQ125,000.00$24,941.680.25%
7-Eleven Inc 0.95% 02/10/2026817826AC427,000.00$24,897.420.25%
Boston Properties LP 3.65% 02/01/202610112RAX226,000.00$24,967.700.25%
Shell International Finance BV 2.875% 05/10/2026822582BT826,000.00$24,877.100.25%
BP Capital Markets America Inc 3.41% 02/11/202610373QBE926,000.00$25,175.830.25%
Sherwin-Williams Co/The 3.95% 01/15/2026824348BF226,000.00$25,354.440.25%
Brambles USA Inc 4.125% 10/23/202510510KAC126,000.00$25,355.600.25%
Shire Acquisitions Investments Ireland DAC 3.2% 09/23/202682481LAD126,000.00$24,741.570.25%
Brighthouse Financial Global Funding 1.55% 05/24/202610921U2C127,000.00$24,621.430.25%
Sierra Pacific Power Co 2.6% 05/01/2026826418BM626,000.00$24,626.290.25%
Bristol-Myers Squibb Co 3.2% 06/15/2026110122CN626,000.00$24,951.680.25%
Silgan Holdings Inc 1.4% 04/01/2026827048AX727,000.00$24,662.880.25%
Brixmor Operating Partnership LP 4.125% 06/15/202611120VAC726,000.00$25,180.830.25%
Broadridge Financial Solutions Inc 3.4% 06/27/202611133TAC726,000.00$24,889.660.25%
Broadcom Inc 3.15% 11/15/202511135FBB626,000.00$25,067.970.25%
Skandinaviska Enskilda Banken AB 1.4% 11/19/202583051GAU227,000.00$25,339.410.25%
Skyworks Solutions Inc 1.8% 06/01/202683088MAK827,000.00$24,969.980.25%
Burlington Northern Santa Fe LLC 7% 12/15/202512189TAA224,000.00$24,655.290.25%
Southern California Edison Co 5.35% 03/01/2026842400JB025,000.00$24,973.720.25%
Paramount Global 4% 01/15/2026124857AQ626,000.00$24,958.270.25%
Southwestern Electric Power Co 1.65% 03/15/2026845437BS027,000.00$25,102.420.25%
Spire Inc 5.3% 03/01/202684857LAC526,000.00$25,854.470.26%
Cigna Group/The 4.125% 11/15/2025125523AG526,000.00$25,533.660.26%
CNH Industrial Capital LLC 1.45% 07/15/202612592BAM628,000.00$25,621.760.26%
Starbucks Corp 4.75% 02/15/2026855244BE826,000.00$25,735.200.26%
CNA Financial Corp 4.5% 03/01/2026126117AT726,000.00$25,546.490.26%
Stryker Corp 3.5% 03/15/2026863667AN127,000.00$26,089.460.26%
CVS Health Corp 2.875% 06/01/2026126650CU227,000.00$25,637.860.26%
Sumitomo Mitsui Financial Group Inc 2.632% 07/14/202686562MAF727,000.00$25,458.480.26%
Canadian Imperial Bank of Commerce 1.25% 06/22/202613607HVE928,000.00$25,663.150.26%
Synchrony Financial 3.7% 08/04/202687165BAL727,000.00$25,538.160.26%
Capital One Financial Corp 3.75% 07/28/202614040HBK027,000.00$25,873.070.26%
Sabra Health Care LP 5.125% 08/15/202614162VAB226,000.00$25,582.890.26%
Cargill Inc 4.875% 10/10/2025141781BY926,000.00$25,853.130.26%
T-Mobile USA Inc 2.25% 02/15/202687264ABR527,000.00$25,468.300.26%
Caterpillar Financial Services Corp 4.35% 05/15/202614913UAA826,000.00$25,591.210.26%
Celanese US Holdings LLC 1.4% 08/05/202615089QAK028,000.00$25,407.740.26%
Tapestry Inc 7.05% 11/27/2025876030AB325,000.00$25,401.060.26%
Colgate-Palmolive Co 4.8% 03/02/2026194162AQ626,000.00$25,926.990.26%
TOLL BROS FINANCE CORP 4 7/8 11/15/25 4.875% 11/15/202588947EAR126,000.00$25,659.730.26%
Comcast Corp 3.95% 10/15/202520030NCS826,000.00$25,479.510.26%
TransCanada PipeLines Ltd 6.203% 03/09/202689352HBE826,000.00$25,968.060.26%
Trinity Acquisition PLC 4.4% 03/15/202689641UAC526,000.00$25,417.930.26%
Conagra Brands Inc 4.6% 11/01/2025205887CB626,000.00$25,598.320.26%
Tyco Electronics Group SA 4.5% 02/13/2026902133AZ026,000.00$25,633.130.26%
Crown Castle Inc 1.05% 07/15/202622822VAV328,000.00$25,390.260.26%
SITE Centers Corp 4.25% 02/01/202623317HAE226,000.00$25,501.700.26%
Vale Overseas Ltd 6.25% 08/10/202691911TAP825,000.00$25,423.730.26%
John Deere Capital Corp 4.8% 01/09/202624422EWP026,000.00$25,833.770.26%
Valero Energy Corp 3.4% 09/15/202691913YAU427,000.00$25,832.530.26%
Walt Disney Co/The 1.75% 01/13/2026254687FV327,000.00$25,449.520.26%
Dollar General Corp 4.15% 11/01/2025256677AD726,000.00$25,457.350.26%
EIDP Inc 4.5% 05/15/2026263534CQ026,000.00$25,575.280.26%
WEC Energy Group Inc 4.75% 01/09/202692939UAK226,000.00$25,663.660.26%
WRKCo Inc 4.65% 03/15/202692940PAB026,000.00$25,567.010.26%
EQT Corp 3.125% 05/15/202626884LAM127,000.00$25,569.930.26%
Electronic Arts Inc 4.8% 03/01/2026285512AD126,000.00$25,736.420.26%
Evergy Kansas Central Inc 2.55% 07/01/202695709TAN027,000.00$25,510.330.26%
Westlake Corp 3.6% 08/15/2026960413AT927,000.00$25,857.370.26%
Weyerhaeuser Co 4.75% 05/15/2026962166CC626,000.00$25,633.070.26%
Entergy Corp 2.95% 09/01/202629364GAJ227,000.00$25,537.020.26%
Williams Cos Inc/The 5.4% 03/02/2026969457CH126,000.00$25,971.780.26%
Equinor ASA 1.75% 01/22/202629446MAJ127,000.00$25,461.190.26%
Eversource Energy 4.75% 05/15/202630040WAV026,000.00$25,598.310.26%
Georgia-Pacific LLC 1.75% 09/30/202537331NAJ027,000.00$25,579.480.26%
Golub Capital BDC Inc 2.5% 08/24/202638173MAB828,000.00$25,616.780.26%
Hanover Insurance Group Inc/The 4.5% 04/15/2026410867AF226,000.00$25,401.890.26%
Healthcare Realty Holdings LP 3.5% 08/01/202642225UAD627,000.00$25,693.310.26%
Hubbell Inc 3.35% 03/01/2026443510AG727,000.00$26,012.790.26%
Humana Inc 5.7% 03/13/2026444859BW126,000.00$25,978.810.26%
Hyatt Hotels Corp 4.85% 03/15/2026448579AF926,000.00$25,677.190.26%
Hyundai Capital America 5.5% 03/30/202644891ACB126,000.00$25,908.310.26%
Intel Corp 4.875% 02/10/2026458140CD026,000.00$25,827.260.26%
Jackson National Life Global Funding 3.05% 04/29/202646849LSQ527,000.00$25,557.680.26%
Las Vegas Sands Corp 3.5% 08/18/2026517834AE727,000.00$25,475.690.26%
Legg Mason Inc 4.75% 03/15/2026524901AV726,000.00$25,704.640.26%
Eli Lilly & Co 5% 02/27/2026532457CE626,000.00$25,968.780.26%
Warnermedia Holdings Inc 6.412% 03/15/202655903VBG726,000.00$26,000.520.26%
Magna International Inc 4.15% 10/01/2025559222AR526,000.00$25,512.280.26%
Manulife Financial Corp 4.15% 03/04/202656501RAC026,000.00$25,473.950.26%
McKesson Corp 5.25% 02/15/2026581557BS326,000.00$25,955.320.26%
Mead Johnson Nutrition Co 4.125% 11/15/2025582839AH926,000.00$25,422.360.26%
Microsoft Corp 2.4% 08/08/2026594918BR427,000.00$25,506.060.26%
National Fuel Gas Co 5.5% 01/15/2026636180BQ326,000.00$25,863.870.26%
National Rural Utilities Cooperative Finance Corp 4.45% 03/13/202663743HFH026,000.00$25,635.940.26%
Ovintiv Inc 5.375% 01/01/2026651290AR926,000.00$25,851.870.26%
Northern Trust Corp 3.95% 10/30/2025665859AP926,000.00$25,392.620.26%
Occidental Petroleum Corp 5.55% 03/15/2026674599DC626,000.00$25,911.550.26%
Omega Healthcare Investors Inc 5.25% 01/15/2026681936BH226,000.00$25,688.240.26%
ONEOK Inc 5% 03/01/2026682680BR326,000.00$25,796.110.26%
Oracle Corp 2.65% 07/15/202668389XBM627,000.00$25,430.810.26%
Owens Corning 3.4% 08/15/2026690742AF827,000.00$25,756.530.26%
Amgen Inc 5.507% 03/02/2026031162DN726,000.00$25,965.010.26%
ArcelorMittal SA 4.55% 03/11/202603938LBA126,000.00$25,493.590.26%
Philip Morris International Inc 4.875% 02/13/2026718172CY326,000.00$25,785.750.26%
Archer-Daniels-Midland Co 2.5% 08/11/2026039483BL527,000.00$25,410.740.26%
Plains All American Pipeline LP / PAA Finance Corp 4.65% 10/15/202572650RBJ026,000.00$25,600.940.26%
AutoNation Inc 4.5% 10/01/202505329WAM426,000.00$25,531.480.26%
Principal Life Global Funding II 3% 04/18/202674256LAU327,000.00$25,689.820.26%
Avnet Inc 4.625% 04/15/2026053807AS226,000.00$25,558.050.26%
PulteGroup Inc 5.5% 03/01/2026745867AW126,000.00$25,919.310.26%
BHP Billiton Finance USA Ltd 4.875% 02/27/2026055451AY426,000.00$25,800.180.26%
Realty Income Corp 4.875% 06/01/2026756109BF026,000.00$25,737.550.26%
Bank of Nova Scotia/The 4.75% 02/02/202606417XAN126,000.00$25,707.910.26%
Republic Services Inc 2.9% 07/01/2026760759AR127,000.00$25,761.250.26%
Sixth Street Specialty Lending Inc 2.5% 08/01/202683012AAA728,000.00$25,784.380.26%
Bunge Ltd Finance Corp 3.25% 08/15/2026120568AX827,000.00$25,745.660.26%
Southern Co/The 3.25% 07/01/2026842587CV727,000.00$25,804.060.26%
CBRE Services Inc 4.875% 03/01/202612505BAD226,000.00$25,620.060.26%
Anheuser-Busch Cos LLC / Anheuser-Busch InBev Worldwide Inc 3.65% 02/01/202603522AAG528,000.00$27,260.060.27%
U.S. Bank Money Market Deposit Account 08/01/2031USBFS0429,762.46$29,762.460.30%
Delta Air Lines Inc / SkyMiles IP Ltd 4.5% 10/20/2025830867AA530,625.00$30,171.920.30%
Cash & OtherCash&Other62,933.06$62,933.060.63%
Holdings are subject to change without notice.

Documents

Team

Alexander Morris
Series Founder
Peter Baden
Series Founder
Justin Hennessy
Senior Portfolio Manager
John Han, CFA
Portfolio Manager
Marcin Zdunek
Senior Portfolio Manager

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Investors should consider the investment objectives, risks, charges and expenses carefully before investing. For a prospectus or summary prospectus with this and other information about the Fund, please call 1-800-617-0004 or visit our website at www.fminvest.com. Read the prospectus or summary prospectus carefully before investing.

As with all ETFs, Shares may be bought and sold in the secondary market at market prices. Interest rate risk is the risk of losses attributable to changes in interest rates. In general, if prevailing interest rates rise, the values of debt instruments tend to fall, and if interest rates fall, the values of debt instruments tend to rise.

While U.S. Treasury obligations are backed by the “full faith and credit” of the U.S. Government, such securities are nonetheless subject to credit risk (i.e., the risk that the U.S. Government may be, or be perceived to be, unable or unwilling to honor its financial obligations, such as making payments).

Fund Risks:
Fixed-Income Market Risk. The market value of a fixed income security may decline due to general market conditions that are not specifically related to a particular issuer, such as real or perceived adverse economic conditions, changes in the outlook for corporate earnings, changes in interest or currency rates or adverse investor sentiment generally. Interest Rate Risk. Interest rate risk is the risk of losses attributable to changes in interest rates. In general, if prevailing interest rates rise, the values of debt instruments tend to fall, and if interest rates fall, the values of debt instruments tend to rise.

Income Risk. The Fund’s income may decline if interest rates fall. This decline in income can occur because the Fund may subsequently invest in lower yielding bonds as bonds in its portfolio mature, are near maturity or are called, bonds in the Underlying Index are substituted, or the Fund otherwise needs to purchase additional bonds.

New Fund Risk. The Fund’s is a newly organized, management investment company with no operating history. In addition, there can be no assurance that the Fund’s will grow to, or maintain, an economically viable size, in which case the Board of Directors (the “Board”) of The RBB Fund, Inc. (the “Company”) may determine to liquidate the Fund.

High Portfolio Turnover Risk. In seeking to track the Underlying Index, the Fund may incur relatively high portfolio turnover. The active and frequent trading of the Fund’s portfolio securities may result in increased transaction costs to the Fund, including brokerage commissions, dealer mark-ups and other transaction costs, which could reduce the Fund’s return.

Liquidity Risk. Certain securities held may be difficult (or impossible) to sell at the time and at the price the Adviser would like. New Fund Risk. The funds are newly organized, management investment company with no operating history.

Duration is a measure of the sensitivity of the price of a bond or other debt instrument to a change in interest rates.

Cash flow is the net cash and cash equivalents transferred in and out of a company. Cash received represents inflows, while money spent represents outflows.

A coupon is the annual interest rate paid on a bond, expressed as a percentage of the face value and paid from issue date until maturity.

ICE 2-Year US Target Maturity Corporate Index is a subset of the ICE BofA US Corporate Index comprised of selected securities with a remaining term maturity of roughly two years. In order to qualify for selection, securities must be TRACE eligible with at least $300 million face amount outstanding and have at least 1.5 years but less than 2.5 years remaining years to maturity. Of the qualifying securities, one is selected per issuer based on the priority of (1) rank, (2) amount outstanding and (3) time since issue. For the rank, senior bonds are selected first, followed by senior secured and finally all subordinated debt.

Premium/Discount is the amount the fund’s closing price is trading above or below the reported NAV, expressed as a percentage of the NAV. When the fund’s closing price is greater than the fund’s NAV, it is said to be trading at a “premium” and the percentage is expressed as a positive number. When the fund’s closing price is less than the fund’s NAV, it is said to be trading at a “discount” and the percentage is expressed as a negative number.

Investments involve risk. Principal loss is possible.

Distributed by Quasar Distributors, LLC

F/m Investments, LLC is not affiliated with these financial service firms. Their listing should not be viewed as a recommendation or endorsement. By clicking the buttons above you are leaving the F/m Invest website and going to a 3rd party site. F/m Invest is not responsible for content on 3rd party sites.

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Invest Now

Choose your current broker
F/m Investments, LLC is not affiliated with these financial service firms. Their listing should not be viewed as a recommendation or endorsement. By clicking the buttons above you are leaving the F/m Invest website and going to a 3rd party site. F/m Invest is not responsible for content on 3rd party sites.

Invest Now

Choose your current broker
F/m Investments, LLC is not affiliated with these financial service firms. Their listing should not be viewed as a recommendation or endorsement. By clicking the buttons above you are leaving the F/m Invest website and going to a 3rd party site. F/m Invest is not responsible for content on 3rd party sites.

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Choose your current broker
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Marcin Zdunek

Head trader and Assistant Portfolio Manager
Marcin has over 25 years experience in trading all aspects of Fixed Income; including U.S. Governments, Investment Grade and Below Investment Grade Corporate Bonds, Asset Backed debt, etc. with Insurance Companies, ETF's, RIA's and customized individual bond portfolios.

Justin Jennessy

Director of Portfolio Management / Co-Portfolio Manager
Justin’s 40+ years encompass leadership roles in investment advisory firms, insurance companies, mutual funds, and bank trust departments.

Peter Baden

Chief Investment Office / Lead Portfolio Manager
Peter has over 25 years of investment management experience, encompassing management, mergers and acquisitions, financials institutions, and credit analysis. Peter takes the lead on taxable bond strategies.