ZTOP
F/m High Yield 100 ETF
A Smarter Approach to High Yield Investing made ETF EasyTM
ZTOP seeks to replicate the Bloomberg U.S. High Yield Top 100 Quality Select Equal Weighted Index and provides exclusive exposure to the largest and most established issuers of U.S. high yield debt. The fund seeks to deliver lower volatility and higher risk-adjusted returns than the broad high yield market over a full credit cycle.
Fund Overview
As ofMedian 30 day spread is calculated by identifying the national best bid and national best offer (“NBBO”) for each fund as of the end of each 10 second interval during each trading day of the last 30 calendar days and dividing the difference between each such bid and offer by the midpoint of the NBBO. The median of those values is identified and that value is expressed as a percentage rounded to the nearest hundredth.
Why ZTOP?
Diversified exposure to the largest, established issuers of high yield bonds, with higher ratings and a focus on secured issues.
Targets high levels of income but with lower levels of volatility than the broader high yield bond market.
Designed to participate in market upside while reducing losses during downturns for attractive risk-adjusted returns across credit cycles.
Features
- Focus on largest high yield issuers
Larger companies generally weather periods of volatility and economic uncertainty better then smaller companies.
- Quality and income optimization
Target the highest cash coupon bond while prioritizing the secured part of issuers' capital structure.
- Multi-environment strategy
Historically attractive risk adjusted returns by capturing a significant portion of the upside gains when the high yield market is strong, while outperforming in a down market when risk premiums spike.
- Designed for low volatility
Larger companies and higher quality credits in the high yield universe will likely lead to lower volatility and a lower default rate.
- Equally weighted
Avoid excess exposure to any one company and lessen security-specific risk.
- Liquidity
Large high yield company debt tends to trade more often, leading to more market makers and tighter spreads than smaller, less traded high yield issuers.
Distributions
| Type | Declaration Date | Ex Date | Record Date | Payable Date | Dividend Declared (per share) |
|---|
Quarter End Performance
| YTD | 1-Month | 3-Month | 6-Month | 1-Year | Since Inception |
|---|
Month End Performance
| YTD | 1-Month | 3-Month | 6-Month | 1-Year | Since Inception |
|---|
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.
Holdings
As of| Name | Symbol | Par Value | Market Value | Weightings(%) |
|---|
Holdings are subject to change without notice.