LHA Market State™ Shares
Risk-Responsive Core Equity Investing
LHA Market State™ Tactical Beta ETF (Ticker Symbol: MSTB)
The LHA Market State™ Tactical Beta ETF (Ticker Symbol: MSTB) seeks long-term out-performance relative to the large-capitalization U.S. equity market.
- The ETF offers exposure to the S&P 500® Index with a dynamic risk overlay. In calm and/or rising U.S. equity markets, MSTB aims to provide upside participation. As volatility increases, the MSTB aims to provide uncorrelated returns and decrease the impact of falling markets.
- Upside Participation: MSTB seeks to provide “index-plus” returns in calm and rising U.S. equity markets.
- Downside Reinforcement: MSTB seeks to preserve capital and provide uncorrelated returns in volatile conditions and falling U.S. equity markets.
| FUND DATA & PRICING | |||
|---|---|---|---|
| Net Assets as of 09/29/2023 | $118.5m | ||
| NAV | $26.19 | ||
| Shares Outstanding | 4,525,000 | ||
| Premium/discount Percentage | -0.13% | ||
| Closing Price | $26.15 | ||
| Median 30 Day Spread | 0.27% | ||
Data as of 09/29/2023
IOPV, or Indicative Optimized Portfolio Value, is a calculation disseminated by Solactive AG which approximates the Fund's NAV every fifteen seconds throughout the trading day.
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 07/31/2023 | |||
|---|---|---|---|---|
| AVG. ANNUALIZED | ||||
| Quarter | 1 Year | 3 Year | Since Inception | |
| Fund NAV | 8.42 | 6.19 | xxxx | 6.23 |
| Fund Market | 8.23 | 6.25 | xxxx | 6.21 |
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. Performance current to the most recent month-end can be obtained by calling (781) 639-3000 (ext.147). Please note that performance shown for periods that are less than one year are not annualized.
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 | |
| 12/30/2020 | 12/31/2020 | 01/04/2021 | $0.48 per share | |
| 12/15/2021 | 12/16/2021 | 12/17/2021 | $0.71 per share | |
| 12/15/2022 | 12/16/2022 | 12/19/2022 | $0.33 per share | |
| TOP HOLDINGS: September 29th | ||||
|---|---|---|---|---|
| Percentage of Net Assets | Name | Identifier | Shares Held | Market Value |
| 75.39% | SPDR S&P 500 ETF TR TR UNIT | SPY | 209,002 | 89,344,174.96 |
| 19.58% | UNITED STATES TREAS BILLS 02/01/2024 | 912797GE1 | 23,622,000 | 23,198,623.13 |
| 14.60% | S&P500 EMINI FUT Dec23 | ESZ3 Index | 80 | 17,302,000.00 |
| 4.46% | UNITED STATES TREAS BILLS 02/15/2024 | 912797GN1 | 5,397,000 | 5,289,118.45 |
| 3.25% | CBOE VIX FUTURE Oct23 | UXV3 Index | 217 | 3,856,350.40 |
| 1.77% | CBOE VIX FUTURE Nov23 | UXX3 Index | 115 | 2,098,324.50 |
| 0.56% | Cash & Other | Cash&Other | 663,914 | 663,914.38 |
Data as of 10/02/2023. Holdings are subject to change and should not be considered recommendations to buy or sell any security.
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