Syntax Stratified LargeCap ETF
The Stratified Weight version of the S&P 500®.
Overview
Fund Snapshot
As of Nov 14, 2019
| NAV | $49.54 |
|---|---|
| Market Price | $49.51 |
| Premium/Discount | -0.06% |
About SSPY
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Seeks to provide investment results that, before expenses, track the performance of the Syntax Stratified LargeCap Index |
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Same stocks as the S&P 500®, providing access to constituents that are the leading proxy for the market |
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Reweighted to diversify related business risk and provide a more balanced exposure than cap-weighting |
Key Facts
Fund Details
As of Oct 31, 2019
| Net Assets | $59,399,441.33 |
|---|---|
| Ticker | SSPY |
| Asset Class | Equity |
| Exchange | NYSE Arca |
| CUSIP | 87166N106 |
| Fund Inception Date | Jan 1, 2015 |
| Gross Expense Ratio | 0.45 |
| Net Expense Ratio* | 0.30 |
Index Details
As of Oct 31, 2019
| Index Name | Syntax Stratified LargeCap Index |
|---|---|
| Index Ticker | SYLC |
| Index Provider | Syntax, LLC |
| Weighting Method | Stratified Weight |
| Rebalance | Quarterly |
| Currency | USD |
| Inception Date | Dec 27, 2016 |
| Number of Holdings | 505 |
Performance
Month End Returns
As of Oct 31, 2019
| Name | MTD | QTD | YTD | 1y | 3y | Incept. |
|---|---|---|---|---|---|---|
| NAV(%) | 0.90 | 0.90 | 21.34 | 12.30 | 12.72 | 9.15 |
| Market Price (%) | 0.77 | 0.77 | 21.25 | - | - | - |
Quarter End Returns
As of Sep 30, 2019
| Name | QTD | YTD | 1y | 3y | Incept. |
|---|---|---|---|---|---|
| NAV(%) | 1.38 | 20.26 | 4.39 | 11.54 | 9.11 |
| Market Price (%) | 1.41 | 20.32 | - | - | - |
Calendar Year
As of Dec 31, 2018
| Name | 2015 | 2016 | 2017 | 2018 |
|---|---|---|---|---|
| NAV(%) | -1.44 | 14.11 | 19.73 | -6.57 |
| Market Price (%) | - | - | - | - |
Performance quoted represents past performance and does not guarantee future results. Investment return and principal value will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than that shown here. Performance data current to the most recent month end is available by calling (866) 972-4492. *The Adviser has contractually agreed to waive and/or reimburse certain fees/expenses until May 1, 2020. Performance would have been lower without fee waivers/expense reimbursements in effect.
A privately offered fund managed by Syntax Advisors, LLC was reorganized into the ETF as of January 2, 2019 upon commencement of the ETF operations. For periods prior to the commencement of ETF operations, the fund’s performance is that of the private fund. The Fund’s NAV price as of January 2, 2019 was used in calculating market price performance for January 2 and January 3, prior to the fund first trading on the New York Stock Exchange on January 4, 2019.
The returns were calculated using the methodology the SEC requires of registered funds. However, since the private fund did not calculate its returns on a per share basis, its returns have been calculated on its total net asset value. While the performance of the private fund is net of all fees and expenses, the performance of the private fund has not been restated to reflect the management and fee waivers applicable to the Fund. The Fund may be subject to higher fees which would negatively impact performance. The private fund began operations on January 1, 2015 and, on January 2, 2019, was reorganized into the Fund. Prior to the reorganization, the private fund had investment objectives, policies and strategies that were, in all material respects, the same as those of the Fund, and was managed in a manner that, in all material respects, complied with the investment guidelines and restrictions of the Fund. However, as a registered investment company, the Fund is subject to certain restrictions under the Investment Company Act of 1940 (the “1940 Act”) and the Internal Revenue Code of 1986 (the “Internal Revenue Code”) which did not apply to the private fund. If the private fund had been subject to the provisions of the 1940 Act and the Internal Revenue Code, its performance could have been adversely affected. However, these restrictions are not expected to have a material effect on the Fund’s investment performance.
Premium/Discount
Information presented here is historical and is not indicative of future results. Investment premiums or discounts may vary, and at the time of purchase or sale of an investment it may not be indicative of the numbers above.
The above chart presents information about the difference between the daily market price for shares of the Fund and the Fund’s net asset value. The vertical axis of the chart shows the premium or discount expressed as a percentage of NAV. The horizontal axis indicates the number of trading days in the period covered by the chart. Each bar in the chart shows the number of trading days in which the Fund traded within the premium/discount range indicated.
Holdings
Top 10
As of Nov 14, 2019
| Ticker | Name | Weight(%) | Shares | Market Value |
|---|---|---|---|---|
| COST | COSTCO WHOLESALE CORP | 0.80 | 1,582 | $481,861.38 |
| SYY | SYSCO CORP | 0.79 | 5,906 | $481,339.00 |
| WMT | WALMART INC | 0.78 | 3,938 | $475,119.70 |
| KR | KROGER CO | 0.78 | 17,626 | $474,315.66 |
| CVS | CVS HEALTH CORP | 0.77 | 6,412 | $467,691.28 |
| CVX | CHEVRON CORP | 0.77 | 3,807 | $464,301.72 |
| WBA | WALGREENS BOOTS ALLIANCE INC | 0.75 | 7,336 | $454,391.84 |
| ANSS | ANSYS INC | 0.73 | 1,934 | $443,601.58 |
| MSFT | MICROSOFT CORP | 0.73 | 2,989 | $442,551.34 |
| XOM | EXXON MOBIL CORP | 0.72 | 6,367 | $436,139.50 |
Holdings are subject to change.
Documents
How to Buy
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Email Your AdvisorBefore investing, consider the fund’s investment objectives, risks, charges and expenses. To obtain a prospectus or summary prospectus which contains this and other information, please visit www.syntaxadvisors.com, call (866) 972-4492, or download a prospectus now, or talk to your financial advisor. Read it carefully before investing.
The Fund is subject to certain other risks, including but not limited to, equity securities risk, large-capitalization risk, index tracking risk, passive strategy/index risk, and market trading risk. Investing involves risk, including possible loss of principal.
Shares are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Investors may purchase or sell individual shares on an exchange on which they are listed. Market returns are based upon the midpoint of the bid/ask spread at 4:00 p.m. Eastern time (when NAV is normally determined for most ETFs), and do not represent the returns you would receive if you traded shares at other times. Please see the prospectus for more details.
The Syntax Stratified LargeCap Index™ is the property of Syntax, LLC, which has contracted with S&P Opco, LLC (a subsidiary of S&P Dow Jones Indices LLC) to calculate and maintain the Index. The Index is not sponsored by S&P Dow Jones Indices or its affiliates or its third-party licensors (collectively, “S&P Dow Jones Indices”). S&P Dow Jones Indices will not be liable for any errors or omissions in calculating the Index. “Calculated by S&P Dow Jones Indices” and the related stylized mark(s) are service marks of S&P Dow Jones Indices and have been licensed for use by Syntax, LLC, the parent company of Syntax Advisors, LLC. S&P® is a registered trademark of Standard & Poor’s Financial Services LLC (“SPFS”), and Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”).
The Syntax Stratified LargeCap Index™ is the property of Syntax, LLC, the Fund’s index provider. Syntax®, Stratified®, Stratified Indices®, Stratified Weight™, and FIS™ are trademarks or registered trademarks of Locus LP. Performance of an index is not illustrative of any particular investment. It is not possible to invest directly in an index.
Foreside Fund Services, LLC is the distributor of the Syntax ETF Trust, and not affiliated with Syntax Advisors, LLC.
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