XFunds™ Memory Income ETF
Fund Summary
DRMY (The Fund) is an actively managed exchange-traded fund (“ETF”) that primarily seeks capital appreciation, with a secondary objective of current income. DRMY strategy includes two components: i) Equity Portfolio: the fund invests primarily in the equity securities of companies engaged in the development and manufacture of semiconductor memory products (“Memory Companies”).
The fund may also obtain exposure to Memory Companies indirectly primarily through options contracts. In addition, the Fund may invest in other ETFs that invest primarily in Memory Companies. ii) Options Overlay: DRMY employs various options strategies on certain holdings selected in accordance with the above Equity Strategy, focused on generating net option premiums (i.e., option premiums received, less option premiums paid). These premiums are important drivers of the Fund’s cash distributions.
Fund Objective
The Fund invests at least 80% of its net assets (plus borrowings for investment purposes) in equity securities, including depositary receipts, and/or instruments that provide economic exposure to Memory Companies, including Underlying ETFs.
The Fund defines “Memory Companies” as companies that, at the time of investment, derive at least 50% of their revenues or profits from the design, development, production, or manufacture of memory-related semiconductor products or storage technologies. In general, the Fund seeks to invest in Memory Companies that the Sub-Adviser believes are leaders in semiconductor memory products and related technologies, based on factors such as market share and the proportion of revenue derived from such products. The Fund may invest in U.S. and non-U.S. issuers, including those in developed and emerging markets, and may gain such exposure through American Depositary Receipts (“ADRs”), Global Depositary Receipts (“GDRs”), and other depositary receipts. The options strategies most frequently used by the Fund include: Synthetic Covered Calls, Credit Call Spreads, Credit Put Spreads.
XFUNDS Memory Income ETF
Not your Grandpa's Bond Fund
Fund Details
*The 30-Day SEC Yield is calculated with a standardized formula mandated by the SEC. The formula is based on the maximum offering price per share and does not reflect waivers in effect.
**The most recent distribution on XX/XX/XXXX contains X.XX% return of capital and XX.XX% income.
Fund Data & Price
*30-Day Median 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
The performance data quoted above 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 above. Performance current to the most recent month-end can be obtained by calling (855) 563-6900.
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 historical returns. Returns beyond 1 year are annualized.
A fund’s NAV is the sum of all its assets less any liabilities, divided by the number of shares outstanding. The market price is the most recent price at which the fund was traded.
Top 10 Holdings
Under normal circumstances, the Fund will invest at least 80% of its net assets in U.S. Treasury fixed income securities.
U.S. Treasuries are debt obligations issued and backed by the full faith and credit of the United States government. That backing carries weight due to the federal government’s taxing power and the relative size and strength of the U.S. economy. U.S. Treasury securities can provide dependable, steady cash flow and preserve invested principal, if held to maturity.
Fund Documents
Purchase
The Fund (FIAX) is available through various channels including via phone (855) 563-6900, broker-dealers, investment advisers, and other financial services firms, including:
This Fund is not affiliated with these financial service firms. Their listing should not be viewed as a recommendation or endorsement.