Our Funds

The CWA Income ETF (Ticker: CWAI)

Objective

The CWA Income ETF (“Fund”) seeks to provide total return. The Fund will be actively managed.

Strategy

CWAI seeks to achieve its investment objective by investing its assets in a diversified portfolio of corporate bonds with varying maturities and equity securities. The Fund normally invests in investment grade corporate bonds of large cap domestic issuers, without a preference for particular market sectors, but the Fund may also invest in securities of small and mid-cap issuers, both foreign, including emerging markets, and domestic, in any market sector, regardless of credit quality.

The Fund may also invest in equity securities without restriction by market capitalization that are characterized by high dividend yield, including common stocks, preferred stocks, warrants, convertible securities, and pooled investment vehicles such as exchange-traded funds (ETFs) or other investment companies. Under normal circumstances, the Fund will not invest more than 20% of its total assets in equity securities.

FUND DATA & PRICING
Net Assets as of 02/15/2019 $8.76m NAV $25.04
Shares Outstanding 350,000 Premium/Discount Percentage -0.17%
Closing Price $24.99    

Data as of 02/15/2019

IOPV, or Indicative Optimized Portfolio Value, is a calculation disseminated by the stock exchange that approximates the Fund's NAV every fifteen seconds throughout the trading day.

DISTRIBUTION DETAIL
Ex-date Record Date Payable Date Amount
4/25/2017 4/27/2017 4/28/2017 $0.04
5/25/2017 5/30/2017 5/31/2017 $0.06
6/17/2017 6/29/2017 6/30/2017 $0.04
7/26/2017 7/28/2017 7/31/2017 $0.05
8/28/2017 8/30/2017 8/31/2017 $0.06
9/26/2017 9/28/2017 9/29/2017 $0.04
10/26/2017 10/30/2017 10/31/2017 $0.05
11/27/2017 11/29/2017 11/30/2017 $0.06
12/26/2017 12/28/2017 12/29/2017 $0.07
1/29/2018 1/30/2018 1/31/2018 $0.04
2/26/2018 2/27/2018 2/28/2018 $0.06
3/27/2018 3/28/2018 3/29/2018 $0.06
4/26/2018 4/27/2018 4/30/2018 $0.05
5/29/2018 5/25/2018 5/31/2018 $0.07
6/27/2018 6/28/2018 6/29/2018 $0.06
7/27/2018 7/30/2018 7/31/2018 $0.05
8/29/2018 8/30/3018 8/31/2018 $0.07
9/26/2018 9/27/2018 9/28/2018 $0.05
10/29/2018 10/30/2018 10/31/2018 $0.06
11/28/2018 11/29/2018 11/30/2018 $0.07
12/24/2018 12/26/2018 12/27/2018 $0.06
1/29/2019 1/30/2019 1/31/2019 $0.04
Top 10 Holdings
Name Ticker Shares Held Market Value Percentage of Net Assets
Cash & Other Cash&Other 365,930 365,929.91 4.87%
MURPHY OIL USA INC 5.625% 05/01/2027 626738AD0 253,000 255,580.60 3.40%
CME GROUP INC 5.3% 09/15/2043 12572QAF2 201,000 238,380.95 3.17%
CISCO SYS INC 5.5% 01/15/2040 17275RAF9 189,000 231,762.19 3.09%
CHUBB CORP 6.5% 05/15/2038 171232AS0 176,000 230,693.90 3.07%
JABIL INC 4.7% 09/15/2022 466313AG8 223,000 222,955.40 2.97%
JOHNSON & JOHNSON 4.95% 05/15/2033 478160AL8 176,000 203,870.47 2.71%
KINDER MORGAN INC DEL 5.55% 06/01/2045 49456BAH4 189,000 199,173.31 2.65%
JPMORGAN CHASE & CO 3.375% 05/01/2023 46625HJJ0 193,000 192,499.20 2.56%
WELLS FARGO CO MTN BE 4.125% 08/15/2023 94974BFN5 184,000 188,769.82 2.51%
Data as of 02/19/2019. Holdings are subject to change.

Shareholders may pay more than net asset value when they buy Fund shares and receive less than net asset value when they sell those shares, because shares are bought and sold at current market prices. Past performance cannot be used to predict future results.