F/m Opportunistic Income ETF (XFIX)

Why XFIX?

Seizing the Opportunity

We examine yield curves, credit spectrums and other individual features to identify undervalued capacities for growth

Maximizing Potential

Our targeted selection of Fixed Income Securities is expertly managed to target value. Extensive experience and professional knowledge helps us judge when to realize gains and redeploy value to maintain growth.

Flexible Yet Targeted Strategy

We focus on Investment grade corporate, municipal bonds, high yield bonds, preferred stocks; US Government and agency bond; mortgage-backed bonds and other fixed income securities.

Free to Succeed

Our “go anywhere” strategy breaks the binds of sector or duration targets, so we can pursue total return wherever it may lie

Dynamic Allocation

XFIX is actively managed, giving our team the flexibility to adjust holdings to maximize total return, targeting both income and appreciation

Focused Exposure

XFIX combines a focused fixed income portfolio with the flexibility and convenience of an ETF.

Overview

Investment Objective

The investment objective of the F/m Opportunistic Income ETF (the “Fund”) is to maximize total return, including both income and appreciation, by identifying undervalued and opportunistic sectors and securities in the U.S. fixed income markets.

Summary

  • F/m Opportunistic Income ETF is an actively managed ETF that targets undervalued sectors and securities in the US fixed income space.

  • We search for relative value, trade nimbly to achieve a targeted selection, realize profits when appropriate and redeploy resources to continue to maximize returns. XFIX combines a focused fixed income portfolio with the flexibility and convenience of an ETF.

Fund Facts

As of 07/15/2024
Ticker xfix
Inception Date 9/6/2023
CUSIP 74933W445
Exchange NASDAQ
Expense Ratio 0.39%
# of Holdings 28
Net Assets $29.06M
Shares Outstanding 560,000
NAV $51.90
Closing Price $51.99
Median 30 Day Spread 0.12%
Premium / Discount 0.18%
30-Day Yield * 5.77%
-- --
*Yield
As of 06/30/2024
Type Declaration Date Ex Date Record Date Payable Date Dividend Declared (per share)
10/29/202311/02/202311/03/202311/04/2023$0.397759
11/29/202312/02/202312/03/202312/04/2023$0.227929
12/26/202312/27/202312/28/202312/29/2023$0.00
12/26/202312/27/202312/28/202312/29/2023$0.257305
01/31/202402/01/202402/02/202402/05/2024$0.236847
02/29/202403/01/202403/04/202403/05/2024$0.23684729
03/29/202404/01/202404/02/202404/03/2024$0.23129325
04/30/202405/01/202405/02/202405/03/2024$0.26132025
05/31/202406/03/202406/03/202406/04/2024$0.25405563
06/28/202407/01/202407/01/202407/02/2024$0.22334657
07/31/202408/01/202408/01/202408/02/2024$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 07/16/2024
Name Symbol Par Value Market Value Weightings (%)
New Hampshire Business Finance Authority 3.961% 10/01/203163607VAJ540,000.00$35,333.260.12%
F/m 3-Year Investment Grade Corporate Bond ETFZTRE976.00$49,053.760.17%
Phillips 66 Partners LP 3.605% 02/15/2025718549AB465,000.00$64,257.570.22%
New Hampshire Business Finance Authority 3.25% 04/01/202863607VAH9130,000.00$98,414.940.34%
Phillips 66 Partners LP 3.15% 12/15/2029718549AH1365,000.00$312,025.231.07%
Cash & OtherCash&Other399,410.74$399,410.741.37%
Phillips 66 Partners LP 3.75% 03/01/2028718549AF5500,000.00$461,979.711.59%
VeriSign Inc 4.75% 07/15/202792343EAL6479,000.00$473,800.191.63%
Ricoh USA Inc 6.75% 12/01/2025451713AA9860,000.00$830,816.612.86%
Autodesk Inc 2.4% 12/15/2031052769AH91,137,000.00$956,999.533.29%
Freeport Minerals Corp 9.5% 06/01/2031717265AL6988,000.00$1,185,600.004.08%
Nokia Oyj 6.625% 05/15/2039654902AC91,270,000.00$1,274,015.744.38%
Enstar Finance LLC 5.5% 01/15/204229360AAB61,406,000.00$1,361,351.204.68%
Florida Power & Light Co 3.8% 12/15/2042341081FH51,696,000.00$1,376,757.314.74%
Leidos Inc 5.75% 03/15/203352532XAJ41,357,000.00$1,390,109.504.78%
Cheniere Energy Partners LP 4.5% 10/01/202916411QAG61,461,000.00$1,403,031.984.83%
VF Corp 2.95% 04/23/2030918204BC11,675,000.00$1,409,947.184.85%
Dell Inc 6.5% 04/15/203824702RAF81,329,000.00$1,419,652.424.89%
Nationwide Financial Services Inc 6.75% 05/15/2037638612AJ01,396,000.00$1,424,736.664.90%
Celanese US Holdings LLC 6.33% 07/15/202915089QAN41,373,000.00$1,427,369.264.91%
JPMorgan Chase & Co 4.6% 08/01/217248128BAG61,453,000.00$1,430,616.514.92%
Concentrix Corp 6.6% 08/02/202820602DAB71,396,000.00$1,436,308.474.94%
Bank of America Corp 5.875% 09/15/2172060505FL31,446,000.00$1,441,716.804.96%
Kinder Morgan Inc 5.55% 06/01/204549456BAH41,531,000.00$1,459,993.955.02%
Ford Motor Co 3.25% 02/12/2032345370DA51,753,000.00$1,473,768.825.07%
Viatris Inc 3.85% 06/22/204092556VAE61,980,000.00$1,479,675.525.09%
Kyndryl Holdings Inc 6.35% 02/20/203450155QAN01,437,000.00$1,485,163.475.11%
F/m 10-Year Investment Grade Corporate Bond ETFZTEN30,000.00$1,503,231.005.17%
Holdings are subject to change without notice.

Documents

Team

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Fund Risks:

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. 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.

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.

Mortgage and Asset-Backed Securities Risk. The Fund may invest in mortgage- and asset-backed securities, which represent “pools” of mortgages or other assets, including consumer loans or receivables held in trust. In a period of rising interest rates, these securities may exhibit additional volatility.

Preferred Stock Risk. A preferred stock may decline in price, or fail to pay dividends when expected, because the issuer experiences a decline in its financial status.

Derivatives Risk. A derivative is an instrument with a value based on the performance of an underlying currency, security, index or other reference asset. The use of derivatives involves risks different from, or greater than, the risks associated with investing in more traditional investments. Derivatives involve costs, may create leverage, and may be illiquid, volatile, and difficult to value.

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

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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.

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.

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.