Distillate Small/Mid
Cash Flow ETF | Ticker DSMC
Distillate Small/Mid Cash Flow ETF | DSMC Process
DSMC adheres to a systematic process, including only those stocks that meet the firm’s proprietary cash-flow-based valuation and quality criteria.
- DSMC begins with a starting universe of around 1,000 profitable small-and mid-cap U.S stock.
- Our security selection process eliminates those stocks with high debt levels.
- We then invest in the most attractively valued remaining 150 companies based on Distillate Capital’s normalized free cash flow methodology.
- The portfolio is weighted by free cash flow generation and is rebalanced quarterly.
As of 09/13/2024
| Ticker | DSMC |
| NAV | 34.69 |
| Market Price | 34.72 |
| Net Assets | $98,003,430 |
| Shares Outstanding | 2,825,000 |
| 30-day SEC Yield as of 7/31/2024 | 1.09% |
| Inception | 10/5/2022 |
| Primary Exchange | NYSE |
| CUSIP | 26922B667 |
| Expense Ratio | 0.55% |
| Premium/Discount % | 0.08 |
| Median 30-day Bid/Ask Spread | 0.09% |
The 30-day SEC yield represents the dividends and interest earned over the preceding 30-day period, annualized, and divided by the net asset value (NAV) per share at the end of the period.
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.
GROWTH OF $10,000
SINCE INCEPTION
10/5/2022-6/30/2024
This chart illustrates the performance of a hypothetical $10,000 investment made on 10/5/2022, and is not intended to imply any future performance. The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The chart assumes reinvestment of capital gains and dividends.
PERFORMANCE
As of 06/30/2024
| YTD | 1 YR1 | 3 YR | SINCE INCEPTION2 | |
|---|---|---|---|---|
| 1DSMC NAV | 1.47% | 16.63% | - | 22.54% |
| 2DSMC MKT | 1.38% | 16.51% | - | 22.53% |
| 3Morningstar US Small Cap TR USD | 1.85% | 10.88% | - | 13.63% |
Fund expense ratio: 0.55%
1Performance greater than 1 year is annualized.
2Inception 10/5/22.
Performance data quoted represents past performance and does not guarantee future results. Investment returns and principal value will fluctuate, and when sold, may be worth more or less than their original cost. Performance current to the most recent month-end may be lower or higher than the performance quoted and can be obtained by calling 800.617.0004. Market price returns are based on price of the last reported trade on the fund’s primary exchange where the shares are listed. NAV return is the percentage change between the fund’s net asset value (the value of each share’s portion of the fund’s underlying assets and cash at the end of the trading day) at the beginning and end of a particular period.
As of 09/13/2024
| 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | |
|---|---|---|---|---|---|
| Days at premium | 141 | 45 | 58 | 45 | - |
| Days at zero premium/discount | 20 | 4 | 2 | 1 | - |
| Days at discount | 86 | 12 | 3 | 7 | - |
TOP 10 HOLDINGS
As of 09/16/2024
| Percent Net Assets | Name | Identifier | Shares Held | Market Value |
|---|---|---|---|---|
| 1.61% | Toll Brothers Inc | 889478103 | 10,509.00 | $1,574,248.20 |
| 1.57% | Dillard's Inc | 254067101 | 4,416.00 | $1,543,480.32 |
| 1.51% | Owens Corning | 690742101 | 8,933.00 | $1,479,304.80 |
| 1.43% | Qorvo Inc | 74736K101 | 13,002.00 | $1,399,665.30 |
| 1.41% | WEX Inc | 96208T104 | 6,943.00 | $1,379,643.53 |
| 1.40% | Chord Energy Corp | 674215207 | 10,268.00 | $1,376,425.40 |
| 1.37% | Crocs Inc | 227046109 | 10,427.00 | $1,342,684.79 |
| 1.34% | Alpha Metallurgical Resources Inc | 020764106 | 6,220.00 | $1,310,616.20 |
| 1.32% | Atkore Inc | 047649108 | 14,941.00 | $1,290,304.76 |
| 1.32% | Etsy Inc | 29786A106 | 23,177.00 | $1,289,800.05 |
| 1.23% | Chesapeake Energy Corp | 165167735 | 16,430.00 | $1,203,004.60 |
| 1.21% | CF Industries Holdings Inc | 125269100 | 14,999.00 | $1,187,170.85 |
| 1.21% | InterDigital Inc | 45867G101 | 8,698.00 | $1,182,841.02 |
| 1.16% | KB Home | 48666K109 | 13,183.00 | $1,134,265.32 |
| 1.06% | Arch Resources Inc | 03940R107 | 8,081.00 | $1,035,418.53 |
| 1.04% | Jazz Pharmaceuticals PLC | G50871105 | 9,335.00 | $1,015,554.65 |
| 0.99% | Carter's Inc | 146229109 | 13,725.00 | $975,024.00 |
| 0.93% | Signet Jewelers Ltd | G81276100 | 10,013.00 | $912,684.95 |
| 0.91% | Tapestry Inc | 876030107 | 20,890.00 | $893,256.40 |
| 0.89% | Molson Coors Beverage Co | 60871R209 | 15,934.00 | $875,413.96 |
| 0.87% | Boise Cascade Co | 09739D100 | 6,251.00 | $849,260.86 |
| 0.85% | Robert Half Inc | 770323103 | 13,129.00 | $828,965.06 |
| 0.85% | Sterling Infrastructure Inc | 859241101 | 6,531.00 | $830,090.10 |
| 0.83% | Oshkosh Corp | 688239201 | 8,143.00 | $817,312.91 |
| 0.82% | Academy Sports & Outdoors Inc | 00402L107 | 13,653.00 | $805,663.53 |
| 0.82% | Matson Inc | 57686G105 | 6,070.00 | $805,064.10 |
| 0.80% | Brink's Co/The | 109696104 | 7,025.00 | $780,266.75 |
| 0.80% | Gulfport Energy Corp | 402635502 | 5,485.00 | $784,574.40 |
| 0.80% | Ovintiv Inc | 69047Q102 | 20,131.00 | $781,284.11 |
| 0.79% | Amdocs Ltd | G02602103 | 8,962.00 | $775,123.38 |
| 0.78% | CONSOL Energy Inc | 20854L108 | 7,935.00 | $765,013.35 |
| 0.78% | Thor Industries Inc | 885160101 | 7,429.00 | $759,838.12 |
| 0.76% | Allison Transmission Holdings Inc | 01973R101 | 8,502.00 | $742,904.76 |
| 0.76% | Taylor Morrison Home Corp | 87724P106 | 10,815.00 | $742,557.90 |
| 0.75% | HF Sinclair Corp | 403949100 | 16,359.00 | $739,263.21 |
| 0.73% | Columbia Sportswear Co | 198516106 | 8,667.00 | $716,500.89 |
| 0.72% | Bath & Body Works Inc | 070830104 | 26,047.00 | $708,738.87 |
| 0.72% | Civitas Resources Inc | 17888H103 | 13,243.00 | $701,216.85 |
| 0.72% | Interpublic Group of Cos Inc/The | 460690100 | 22,803.00 | $703,472.55 |
| 0.72% | LCI Industries | 50189K103 | 5,965.00 | $701,782.25 |
| 0.71% | Grand Canyon Education Inc | 38526M106 | 4,853.00 | $694,609.89 |
| 0.70% | Matador Resources Co | 576485205 | 13,857.00 | $690,632.88 |
| 0.68% | APA Corp | 03743Q108 | 27,671.00 | $662,443.74 |
| 0.68% | LKQ Corp | 501889208 | 16,178.00 | $663,945.12 |
| 0.66% | BorgWarner Inc | 099724106 | 20,027.00 | $645,069.67 |
| 0.66% | Euronet Worldwide Inc | 298736109 | 6,541.00 | $647,428.18 |
| 0.66% | SM Energy Co | 78454L100 | 16,425.00 | $643,203.00 |
| 0.65% | Antero Resources Corp | 03674X106 | 24,022.00 | $636,342.78 |
| 0.65% | DENTSPLY SIRONA Inc | 24906P109 | 24,347.00 | $639,839.16 |
| 0.64% | GMS Inc | 36251C103 | 7,313.00 | $630,526.86 |
| 0.63% | SEI Investments Co | 784117103 | 9,264.00 | $619,020.48 |
| 0.63% | Terex Corp | 880779103 | 12,039.00 | $619,045.38 |
| 0.62% | Argan Inc | 04010E109 | 6,708.00 | $611,098.80 |
| 0.62% | Cal-Maine Foods Inc | 128030202 | 8,695.00 | $603,259.10 |
| 0.62% | Murphy Oil Corp | 626717102 | 17,673.00 | $603,886.41 |
| 0.62% | Oxford Industries Inc | 691497309 | 7,111.00 | $605,501.65 |
| 0.62% | Victoria's Secret & Co | 926400102 | 25,702.00 | $604,511.04 |
| 0.61% | California Resources Corp | 13057Q305 | 11,878.00 | $593,068.54 |
| 0.61% | Mosaic Co/The | 61945C103 | 22,776.00 | $601,058.64 |
| 0.61% | TRI POINTE GROUP INC | 87265H109 | 13,386.00 | $596,480.16 |
| 0.60% | Dropbox Inc | 26210C104 | 23,969.00 | $589,397.71 |
| 0.60% | Genpact Ltd | G3922B107 | 14,943.00 | $587,110.47 |
| 0.60% | Warrior Met Coal Inc | 93627C101 | 10,707.00 | $590,169.84 |
| 0.59% | G-III Apparel Group Ltd | 36237H101 | 18,458.00 | $575,705.02 |
| 0.59% | ManpowerGroup Inc | 56418H100 | 8,024.00 | $573,395.04 |
| 0.58% | Korn Ferry | 500643200 | 7,858.00 | $565,147.36 |
| 0.58% | Envista Holdings Corp | 29415F104 | 29,085.00 | $564,539.85 |
| 0.58% | Range Resources Corp | 75281A109 | 19,630.00 | $569,858.90 |
| 0.58% | Steven Madden Ltd | 556269108 | 12,426.00 | $566,749.86 |
| 0.58% | Virtus Investment Partners Inc | 92828Q109 | 2,790.00 | $569,104.20 |
| 0.57% | American Woodmark Corp | 030506109 | 6,285.00 | $557,479.50 |
| 0.57% | Atmus Filtration Technologies Inc | 04956D107 | 15,772.00 | $557,224.76 |
| 0.57% | BlueLinx Holdings Inc | 09624H208 | 5,485.00 | $560,018.50 |
| 0.57% | Diodes Inc | 254543101 | 8,938.00 | $555,496.70 |
| 0.57% | Insperity Inc | 45778Q107 | 6,355.00 | $562,290.40 |
| 0.57% | Prestige Consumer Healthcare Inc | 74112D101 | 7,595.00 | $562,941.40 |
| 0.57% | Sylvamo Corp | 871332102 | 7,249.00 | $557,593.08 |
| 0.57% | Winnebago Industries Inc | 974637100 | 9,811.00 | $554,615.83 |
| 0.56% | eXp World Holdings Inc | 30212W100 | 38,610.00 | $551,350.80 |
| 0.56% | International Seaways Inc | Y41053102 | 11,089.00 | $546,909.48 |
| 0.56% | PROG Holdings Inc | 74319R101 | 11,790.00 | $546,466.50 |
| 0.55% | Buckle Inc/The | 118440106 | 12,352.00 | $543,240.96 |
| 0.55% | Cleveland-Cliffs Inc | 185899101 | 44,962.00 | $535,497.42 |
| 0.55% | Federated Hermes Inc | 314211103 | 15,470.00 | $538,046.60 |
| 0.55% | Vista Outdoor Inc | 928377100 | 13,608.00 | $542,550.96 |
| 0.55% | Ziff Davis Inc | 48123V102 | 10,897.00 | $536,459.31 |
| 0.54% | ChampionX Corp | 15872M104 | 18,652.00 | $533,447.20 |
| 0.54% | Harmony Biosciences Holdings Inc | 413197104 | 13,557.00 | $527,502.87 |
| 0.54% | Magnolia Oil & Gas Corp | 559663109 | 22,387.00 | $533,706.08 |
| 0.54% | Gibraltar Industries Inc | 374689107 | 7,648.00 | $525,494.08 |
| 0.54% | Teradata Corp | 88076W103 | 18,493.00 | $527,235.43 |
| 0.53% | DXC Technology Co | 23355L106 | 24,366.00 | $517,533.84 |
| 0.53% | Malibu Boats Inc | 56117J100 | 13,483.00 | $518,556.18 |
| 0.53% | Quanex Building Products Corp | 747619104 | 18,826.00 | $516,585.44 |
| 0.53% | Southwestern Energy Co | 845467109 | 82,356.00 | $515,548.56 |
| 0.53% | Teekay Tankers Ltd | Y8565N300 | 9,391.00 | $517,538.01 |
| 0.52% | Artisan Partners Asset Management Inc | 04316A108 | 12,440.00 | $507,676.40 |
| 0.52% | Collegium Pharmaceutical Inc | 19459J104 | 13,535.00 | $507,562.50 |
| 0.52% | Everi Holdings Inc | 30034T103 | 39,033.00 | $512,893.62 |
| 0.52% | Monarch Casino & Resort Inc | 609027107 | 6,748.00 | $508,529.28 |
| 0.52% | Victory Capital Holdings Inc | 92645B103 | 9,870.00 | $512,845.20 |
| 0.52% | World Kinect Corp | 981475106 | 17,513.00 | $507,877.00 |
| 0.51% | AllianceBernstein Holding LP | 01881G106 | 14,420.00 | $498,066.80 |
| 0.51% | PC Connection Inc | 69318J100 | 6,840.00 | $497,746.80 |
| 0.51% | Hub Group Inc | 443320106 | 11,221.00 | $502,476.38 |
| 0.51% | Kulicke & Soffa Industries Inc | 501242101 | 12,434.00 | $500,841.52 |
| 0.51% | Masterbrand Inc | 57638P104 | 30,199.00 | $501,001.41 |
| 0.51% | Vector Group Ltd | 92240M108 | 33,309.00 | $497,636.46 |
| 0.50% | Apogee Enterprises Inc | 037598109 | 7,429.00 | $486,153.76 |
| 0.50% | International Money Express Inc | 46005L101 | 26,522.00 | $489,596.12 |
| 0.50% | Innoviva Inc | 45781M101 | 24,707.00 | $489,445.67 |
| 0.50% | ODP Corp/The | 88337F105 | 16,805.00 | $493,730.90 |
| 0.50% | Premier Inc | 74051N102 | 24,127.00 | $489,536.83 |
| 0.50% | Shutterstock Inc | 825690100 | 14,685.00 | $491,947.50 |
| 0.50% | John Wiley & Sons Inc | 968223206 | 10,380.00 | $486,406.80 |
| 0.50% | Worthington Enterprises Inc | 981811102 | 10,765.00 | $487,008.60 |
| 0.49% | Golden Entertainment Inc | 381013101 | 14,805.00 | $482,346.90 |
| 0.49% | Sturm Ruger & Co Inc | 864159108 | 11,525.00 | $478,287.50 |
| 0.49% | Sally Beauty Holdings Inc | 79546E104 | 36,961.00 | $478,275.34 |
| 0.49% | Wabash National Corp | 929566107 | 24,731.00 | $478,050.23 |
| 0.48% | Alliance Resource Partners LP | 01877R108 | 20,051.00 | $470,596.97 |
| 0.48% | Cars.com Inc | 14575E105 | 26,802.00 | $473,055.30 |
| 0.48% | CTS Corp | 126501105 | 10,067.00 | $473,451.01 |
| 0.48% | Ethan Allen Interiors Inc | 297602104 | 15,425.00 | $475,244.25 |
| 0.48% | Genco Shipping & Trading Ltd | Y2685T131 | 27,148.00 | $468,031.52 |
| 0.48% | Heidrick & Struggles International Inc | 422819102 | 12,607.00 | $472,762.50 |
| 0.48% | Dorian LPG Ltd | Y2106R110 | 13,742.00 | $473,686.74 |
| 0.48% | Pediatrix Medical Group Inc | 58502B106 | 42,839.00 | $468,230.27 |
| 0.48% | Perdoceo Education Corp | 71363P106 | 21,185.00 | $469,671.45 |
| 0.48% | Scholastic Corp | 807066105 | 14,971.00 | $471,436.79 |
| 0.48% | TripAdvisor Inc | 896945201 | 34,747.00 | $469,431.97 |
| 0.47% | Andersons Inc/The | 034164103 | 9,688.00 | $464,055.20 |
| 0.47% | Black Stone Minerals LP | 09225M101 | 31,735.00 | $464,600.40 |
| 0.47% | Kimbell Royalty Partners LP | 49435R102 | 29,860.00 | $462,232.80 |
| 0.46% | Adeia Inc | 00676P107 | 37,563.00 | $449,253.48 |
| 0.46% | Cohu Inc | 192576106 | 17,969.00 | $451,920.35 |
| 0.46% | Extreme Networks Inc | 30226D106 | 30,623.00 | $454,751.55 |
| 0.46% | Janus International Group Inc | 47103N106 | 45,295.00 | $446,608.70 |
| 0.46% | Repay Holdings Corp | 76029L100 | 55,360.00 | $446,201.60 |
| 0.46% | Supernus Pharmaceuticals Inc | 868459108 | 14,467.00 | $450,068.37 |
| 0.45% | Ardmore Shipping Corp | Y0207T100 | 25,379.00 | $442,609.76 |
| 0.45% | GigaCloud Technology Inc | G38644103 | 25,902.00 | $442,406.16 |
| 0.45% | NetScout Systems Inc | 64115T104 | 22,444.00 | $439,004.64 |
| 0.45% | Photronics Inc | 719405102 | 18,741.00 | $443,224.65 |
| 0.45% | REV Group Inc | 749527107 | 15,966.00 | $441,300.24 |
| 0.43% | RPC Inc | 749660106 | 73,673.00 | $425,829.94 |
| 0.43% | SunCoke Energy Inc | 86722A103 | 52,400.00 | $417,104.00 |
| 0.42% | Pacira BioSciences Inc | 695127100 | 31,575.00 | $413,948.25 |
| 0.41% | Helix Energy Solutions Group Inc | 42330P107 | 42,382.00 | $401,781.36 |
| 0.40% | CALERES INC COM | 129500104 | 12,333.00 | $392,189.40 |
| 0.31% | First American Government Obligations Fund 12/01/2031 | 31846V336 | 301,715.74 | $301,715.74 |
| 0.14% | Cash & Other | Cash&Other | 136,531.85 | $136,531.85 |
Holdings are subject to change at any time and should not be considered a recommendation to buy or sell any security.
LITERATURE
Fact SheetIMPORTANT INFORMATION
The Funds’ investment objectives, risks, charges, and expenses must be considered carefully before investing. The prospectus contains this and other important information about the investment company. Please read it carefully before investing. A hard copy of the prospectus can be requested by calling 1-800-617-0004.
Investing involves risk, including the possible loss of principal.
Shares of any ETF are bought and sold at market price (not NAV) and may trade at a discount or premium to NAV. Shares are not individually redeemed from the Fund. Brokerage commissions will reduce returns.The NAV of the Fund’s shares is calculated each day the national securities exchanges are open for trading as of the close of regular trading on the New York Stock Exchange (“NYSE”), normally 4:00 p.m. Eastern time (the “NAV Calculation Time”). Market price returns are based on either or both of the last trade of the day before the close of regular trading or the midpoint of the bid/ask spread at 4:00 pm Eastern Time (when NAV is normally determined).
To the extent the Fund invests more heavily in particular sectors of the economy, its performance will be especially sensitive to developments that significantly affect those sectors. Market Capitalization Risk. The securities of small- and mid-capitalization companies may be more vulnerable to adverse issuer, market, political, or economic developments than securities of large-capitalization companies. As an ETF, the fund may trade at a premium or discount to NAV. Shares of any ETF are bought and sold at market price (not NAV) and are not individually redeemed from the Fund.
Free Cash Flow (or Cash Flow): Refers to the cash generated by a business after accounting for capital investments required to maintain or grow the business.
Morningstar US Small Cap Index: Tracks the performance of common stock prices representative of small-cap and certain mid-cap U.S. securities. It is not possible to invest directly in an index.
The Distillate Capital ETFs are distributed by Quasar Distributors, LLC.
