ALPS | Smith Core Plus Bond ETF
Market Price
NAV
NAV Change
Daily Return
Net Assets
YTD Return
Trailing Twelve Month Yield
ETFguide Spotlight - SMTH
Featuring Paul Baiocchi, Chief ETF Strategist, SS&C ALPS Advisors
Paul Baiocchi is a Registered Representative of ALPS Distributors, Inc. and ALPS Portfolio Solutions Distributor, Inc.
Gibson Smith is a Registered Representative of ALPS Distributors, Inc.
Overview
Investment Objective
The ALPS | Smith Core Plus Bond ETF (SMTH) seeks above average total return from a combination of current income and capital appreciation.
Strategy
The ALPS | Smith Core Plus Bond ETF (SMTH) pursues its investment objective by investing, under normal circumstances, at least 80% of its net assets (plus any borrowings for investment purposes) in bonds. The Fund seeks to generate total return from a combination of current income and capital appreciation.
Fund Details
| Ticker
|
Listing Exchange
NYSE Arca |
| CUSIP
|
ISIN
|
| Net Assets
as of
|
Inception Date |
| Fund Type Exchange-Traded Fund |
Primary Benchmark Bloomberg US Aggregate Bond Index |
| Effective Duration (years) as of 11/30/2024
5.55
|
Team
Gibson Smith
Founder, CEO, CIO, Portfolio Manager
Portfolio Manager Since: 2023
Years of Experience: 33
Gibson has more than 30 years of investment experience. He previously served as Chief Investment Officer, Fixed Income of Janus Henderson, formerly Janus Capital Group, a position he held from January 2006 through March 2016. In that position, Gibson was also a member of the Janus Executive Committee, sat on the Perkins Investment Management Board and was the Portfolio Manager on Janus Fixed Income strategies. As Chief Investment Officer, Gibson was responsible for Janus’ investment process within the firm’s fixed-income division and served as Portfolio Manager on most of Janus’ Fixed Income strategies and funds. Two of the funds he managed became the largest strategies at Janus before his departure – the Janus Balanced Fund and the Janus Flexible Bond Fund. Gibson joined Janus in 2001 after spending the first 10 years of his career at Morgan Stanley in Manhattan and San Francisco.
Gibson is a Registered Representative of ALPS Distributors, Inc.
Eric Bernum, CFA
Portfolio Manager, Trader
Portfolio Manager Since: 2023
Years of Experience: 20
Eric Bernum is a Portfolio Manager and Investor at Smith Capital Investors, a position he has held since May 2018. Eric also brings primary focus on the securitized market. Before joining the team, he served as Executive Director, Senior Portfolio Manager at J.P. Morgan Asset Management. In that position, Mr. Bernum was a part of the Portfolio Management team, managing assets across various fixed income institutional portfolios and mutual funds. Before his time at J.P. Morgan Asset Management, Eric was at Janus Capital Management LLC in a multitude of roles across the trading, fundamental analysis and portfolio management functions—culminating in Eric’s role as the Co-Head of Fixed Income Trading and Assistant Portfolio Manager. In these roles, Eric managed a global team of seven traders and contributed to portfolio management decisions across all major fixed income strategies ranging from Intermediate/Core, High-Yield, Credit only, Money Markets, Limited Duration and Liability Driven/Long Duration strategies. Eric was also active in asset raising, client servicing and compliance and systems build-out and function across the fixed income platform. Eric earned his Bachelor of Science degree in finance from Colorado State University, earning the Distinguished Scholar Award and attended the University of South Australia. He earned the Chartered Financial Analyst (CFA) designation and is a member of the CFA Society of Colorado.
Eric is a Registered Representative of ALPS Distributors, Inc.
Performance and Fees
Returns
As of
| Total Returns | |
|---|---|
As of
| Total Returns | |
|---|---|
As of
Performance data quoted represents past performance. Past performance is no guarantee of future results so that shares, when redeemed, may be worth more or less than their original cost. The investment return and principal value will fluctuate. Current performance may be higher or lower than the performance quoted. For current month-end performance call 1-866-759-5679 or visit www.alpsfunds.com. Performance includes reinvested distributions and capital gains.
Market Price is based on the midpoint of the bid/ask spread at 4 p.m. ET and does not represent the returns an investor would receive if shares were traded at other times.
Fund inception date: 12/05/2023
Bloomberg US Aggregate Bond Index: a broad-based benchmark that measures the investment grade, US dollar-denominated, fixed-rate taxable bond market. The index includes Treasuries, government-related and corporate securities, fixed-rate agency MBS, ABS and CMBS (agency and non-agency). One may not invest directly in an index.
$10,000 Hypothetical Investment
The chart above represents the total return historical performance of a hypothetical investment of $10,000 in the Fund over the life of the Fund. Performance calculations are as of the end of each month. Past performance is no guarantee of future results. This chart does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.
Fees
Facts and Characteristics
Fund Pricing
As of
| Market Price | |
| NAV | |
| NAV Change | |
| Premium/Discount | |
| Premium/Discount Difference | |
| Daily Return | |
| YTD Return | |
| Last Trade Price (EOD) | |
| Intraday (Midpoint) Price as of |
|
| Total Market Value |
Trading Characteristics
As of
| Shares Outstanding | |
| Average 30-Day Volume | |
| Daily Volume as of |
|
| Dollar Volume | |
| Net Create/Redeems | |
| 30-Day Median Bid/Ask Spread |
Fund Yields
| Trailing Twelve Month Yield |
|
| 30-Day SEC Yield |
|
| 30-Day SEC Yield (Unsubsidized) |
Trailing Twelve Month Yield: refers to the percentage of income a portfolio has returned to investors over the last 12 months.
30-Day SEC Yield: reflects the dividends and interest earned during the period, after the deduction of the Fund's expenses.
30-Day SEC Yield (Unsubsidized): reflects the dividends and interest earned during the period, after the deduction of the Fund’s expenses, excluding fee waivers.
Portfolio
Credit Quality
1 Bloomberg US Aggregate Bond Index
Credit Quality is a measure of the credit worthiness and risk of a bond or portfolio, based on the issuer’s financial condition. AAA/Aaa is highest and D is lowest. If applicable, the Pre-Refunded/Agency category includes bonds which are secured by US Government Securities and therefore are deemed high-quality investment-grade by the Advisor. If applicable, the Not Rated category includes bonds that are not rated by a Nationally Recognized Statistical Rating Organization.
Composite Rating Source: Bloomberg L.P., ratings presented are a blend of a security’s Moody’s, S&P, Fitch and DBRS ratings. The rating agencies are evenly weighted when calculating the composite. Ratings presented may differ when viewed on an agency-by agency basis.
Sector Breakdown
- Top Five Holdings
| Company Name | % of Fund |
|---|
Fund Holdings
Resources
Funds Related to SMTH
ALPS | Smith Total Return Bond Fund
ALPS | Smith Credit Opportunities Fund
ALPS | Smith Short Duration Bond Fund
ALPS Balanced Opportunity Fund
Fund Disclosure
Shares of ETFs are bought and sold at market price (not NAV) and are not individually redeemable.
A rise in interest rates typically causes bond prices to fall. The longer the duration of the bonds held by a fund, the more sensitive it will likely be to interest rate fluctuations. Duration measures the weighted average term to maturity of a bond’s expected cash flows. Duration also represents the approximate percentage change that the price of a bond would experience for a 1% change in yield. For example: the price of a bond with a duration of 5 years would change approximately 5% for a 1% change in yield. The price of a bond with a duration of 10 years would be expected to decline by approximately 10% if its yield was to rise by +1%. Bond yields tend to fluctuate in response to changes in market levels of interest rates. Generally, if interest rates rise, a bond’s yield will also rise in response; the duration of the bond will determine how much the price of the bond will change in response to the change in yield.
The Fund’s investments in fixed-income securities and positions in fixed-income derivatives may decline in value because of changes in interest rates. As nominal interest rates rise, the value of fixed-income securities and any long positions in fixed-income derivatives held by the Fund are likely to decrease, whereas the value of its short positions in fixed-income derivatives is likely to increase.
Overall securities market risks may affect the value of individual instruments in which the Fund invests. Factors such as domestic and foreign economic growth and market conditions, interest rate levels, and political events affect the securities and derivatives markets. When the value of the Fund’s investments goes down, your investment in the Fund decreases in value and you could lose money.
ALPS Advisors, Inc. and Smith Capital Investors, LLC, registered investment advisers with the SEC, are the investment adviser and sub-adviser to the Fund, respectively. ALPS Advisors, Inc., ALPS Distributors, Inc. and ALPS Portfolio Solutions Distributor, Inc., affiliated entities, are unaffiliated with Smith Capital Investors, LLC.
ALPS Portfolio Solutions Distributor, Inc. is the distributor for the Fund.