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 01/22/2025
| Ticker | DSMC |
| NAV | 35.99 |
| Market Price | 36.03 |
| Net Assets | $101,663,715 |
| Shares Outstanding | 2,825,000 |
| 30-day SEC Yield as of 12/31/2024 | 1.11% |
| Inception | 10/5/2022 |
| Primary Exchange | NYSE |
| CUSIP | 26922B667 |
| Expense Ratio | 0.55% |
| Premium/Discount % | 0.12 |
| Median 30-day Bid/Ask Spread | 0.11% |
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
10/5/2022-12/31/2024
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 12/31/2024
| YTD | 1 YR1 | 3 YR | SINCE INCEPTION2 | |
|---|---|---|---|---|
| 1DSMC NAV | 2.92% | 2.92% | - | 17.8% |
| 2DSMC MKT | 2.81% | 2.81% | - | 17.79% |
| 3Morningstar US Small Cap TR USD | 10.84% | 10.84% | - | 14.67% |
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 01/22/2025
| 2023 | 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|
| Days at premium | 141 | 212 | 9 | - | - | - |
| Days at zero premium/discount | 20 | 8 | 0 | - | - | - |
| Days at discount | 86 | 32 | 5 | - | - | - |
DISTRIBUTIONS
| Ex-Date | Record Date | Payable Date | Amount | Type |
|---|---|---|---|---|
| 12/27/2024 | 12/30/2024 | 12/30/2024 | $0.16000 | Div Income |
| 09/25/2024 | 09/26/2024 | 09/26/2024 | $0.09517 | Div Income |
| 06/26/2024 | 06/27/2024 | 06/27/2024 | $0.10473 | Div Income |
| 03/21/2024 | 03/22/2024 | 03/22/2024 | $0.09844 | Div Income |
| 12/28/2023 | 12/29/2023 | 12/29/2023 | $0.10725 | Div Income |
| 09/21/2023 | 09/22/2023 | 09/22/2023 | $0.08607 | Div Income |
| 06/22/2023 | 06/23/2023 | 06/23/2023 | $0.08930 | Div Income |
| 03/23/2023 | 03/24/2023 | 03/24/2023 | $0.06997 | Div Income |
TOP 10 HOLDINGS
As of 01/23/2025
| Percent Net Assets | Name | Identifier | Shares Held | Market Value |
|---|---|---|---|---|
| 1.78% | Core Natural Resources Inc | 218937100 | 19,010.90 | $1,837,593.59 |
| 1.77% | Tapestry Inc | 876030107 | 24,923.00 | $1,827,852.82 |
| 1.68% | Dillard's Inc | 254067101 | 3,685.00 | $1,737,293.25 |
| 1.52% | Chord Energy Corp | 674215207 | 12,839.00 | $1,567,770.29 |
| 1.47% | Owens Corning | 690742101 | 8,083.00 | $1,516,128.31 |
| 1.45% | Crocs Inc | 227046109 | 14,606.00 | $1,499,159.84 |
| 1.44% | CF Industries Holdings Inc | 125269100 | 15,923.00 | $1,488,959.73 |
| 1.40% | Cavco Industries Inc | 149568107 | 3,059.00 | $1,452,443.79 |
| 1.35% | CH Robinson Worldwide Inc | 12541W209 | 13,299.00 | $1,399,719.75 |
| 1.32% | Toll Brothers Inc | 889478103 | 10,037.00 | $1,367,039.40 |
| 1.30% | Mohawk Industries Inc | 608190104 | 10,291.00 | $1,344,210.42 |
| 1.30% | Qorvo Inc | 74736K101 | 15,400.00 | $1,341,186.00 |
| 1.30% | WEX Inc | 96208T104 | 7,360.00 | $1,345,555.20 |
| 1.14% | Jazz Pharmaceuticals PLC | G50871105 | 9,769.00 | $1,180,485.96 |
| 1.12% | Gulfport Energy Corp | 402635502 | 5,912.00 | $1,160,052.64 |
| 1.04% | Etsy Inc | 29786A106 | 20,512.00 | $1,071,752.00 |
| 0.97% | Allison Transmission Holdings Inc | 01973R101 | 8,384.00 | $1,007,002.24 |
| 0.95% | Grand Canyon Education Inc | 38526M106 | 5,733.00 | $983,209.50 |
| 0.95% | Maximus Inc | 577933104 | 12,682.00 | $985,264.58 |
| 0.94% | Antero Resources Corp | 03674X106 | 23,867.00 | $972,341.58 |
| 0.94% | Atkore Inc | 047649108 | 11,078.00 | $967,663.30 |
| 0.92% | Alpha Metallurgical Resources Inc | 020764106 | 4,938.00 | $955,009.20 |
| 0.89% | Ovintiv Inc | 69047Q102 | 20,411.00 | $923,597.75 |
| 0.86% | Molson Coors Beverage Co | 60871R209 | 16,270.00 | $892,897.60 |
| 0.83% | Cal-Maine Foods Inc | 128030202 | 7,701.00 | $862,743.03 |
| 0.83% | Amdocs Ltd | G02602103 | 10,137.00 | $863,469.66 |
| 0.83% | Thor Industries Inc | 885160101 | 8,382.00 | $857,059.50 |
| 0.82% | Matson Inc | 57686G105 | 6,158.00 | $849,804.00 |
| 0.82% | Match Group Inc | 57667L107 | 26,045.00 | $848,546.10 |
| 0.81% | Matador Resources Co | 576485205 | 13,324.00 | $839,944.96 |
| 0.81% | PVH Corp | 693656100 | 8,663.00 | $833,467.23 |
| 0.79% | A O Smith Corp | 831865209 | 11,458.00 | $813,174.26 |
| 0.78% | Academy Sports & Outdoors Inc | 00402L107 | 14,652.00 | $802,123.74 |
| 0.78% | H&R Block Inc | 093671105 | 15,212.00 | $810,039.00 |
| 0.77% | SEI Investments Co | 784117103 | 9,518.00 | $801,701.14 |
| 0.75% | APA Corp | 03743Q108 | 33,337.00 | $778,752.32 |
| 0.75% | Range Resources Corp | 75281A109 | 18,981.00 | $778,221.00 |
| 0.73% | Boise Cascade Co | 09739D100 | 5,908.00 | $755,751.36 |
| 0.72% | ASGN Inc | 00191U102 | 8,175.00 | $749,238.75 |
| 0.72% | Interpublic Group of Cos Inc/The | 460690100 | 26,476.00 | $746,887.96 |
| 0.72% | Oshkosh Corp | 688239201 | 7,808.00 | $749,802.24 |
| 0.71% | Axcelis Technologies Inc | 054540208 | 10,350.00 | $730,503.00 |
| 0.71% | KB Home | 48666K109 | 10,862.00 | $736,986.70 |
| 0.71% | Weatherford International PLC | G48833118 | 10,367.00 | $736,057.00 |
| 0.70% | Civitas Resources Inc | 17888H103 | 13,888.00 | $724,536.96 |
| 0.70% | Columbia Sportswear Co | 198516106 | 8,284.00 | $726,258.28 |
| 0.70% | Option Care Health Inc | 68404L201 | 24,799.00 | $726,858.69 |
| 0.69% | Carter's Inc | 146229109 | 12,953.00 | $709,435.81 |
| 0.69% | Genpact Ltd | G3922B107 | 15,611.00 | $715,139.91 |
| 0.69% | Mosaic Co/The | 61945C103 | 25,769.00 | $716,378.20 |
| 0.68% | Brink's Co/The | 109696104 | 7,569.00 | $700,965.09 |
| 0.68% | Dropbox Inc | 26210C104 | 22,445.00 | $700,059.55 |
| 0.68% | LKQ Corp | 501889208 | 18,016.00 | $702,984.32 |
| 0.68% | Taylor Morrison Home Corp | 87724P106 | 10,646.00 | $703,913.52 |
| 0.65% | First American Government Obligations Fund 12/01/2031 | 31846V336 | 668,862.25 | $668,862.25 |
| 0.64% | Oxford Industries Inc | 691497309 | 7,747.00 | $658,262.59 |
| 0.64% | Pacira BioSciences Inc | 695127100 | 29,573.00 | $663,913.85 |
| 0.63% | LCI Industries | 50189K103 | 6,119.00 | $647,267.82 |
| 0.62% | Victory Capital Holdings Inc | 92645B103 | 9,427.00 | $639,433.41 |
| 0.61% | Euronet Worldwide Inc | 298736109 | 6,443.00 | $632,380.45 |
| 0.61% | Helmerich & Payne Inc | 423452101 | 17,582.00 | $627,325.76 |
| 0.61% | Victoria's Secret & Co | 926400102 | 16,352.00 | $631,187.20 |
| 0.60% | GMS Inc | 36251C103 | 7,318.00 | $623,932.68 |
| 0.59% | BorgWarner Inc | 099724106 | 19,054.00 | $605,726.66 |
| 0.59% | California Resources Corp | 13057Q305 | 11,235.00 | $609,611.10 |
| 0.59% | Harmony Biosciences Holdings Inc | 413197104 | 15,916.00 | $615,312.56 |
| 0.59% | ManpowerGroup Inc | 56418H100 | 10,082.00 | $607,339.68 |
| 0.59% | SM Energy Co | 78454L100 | 14,722.00 | $615,085.16 |
| 0.58% | HF Sinclair Corp | 403949100 | 17,073.00 | $605,067.12 |
| 0.57% | Diodes Inc | 254543101 | 9,324.00 | $586,199.88 |
| 0.57% | Prestige Consumer Healthcare Inc | 74112D101 | 7,610.00 | $588,937.90 |
| 0.57% | REV Group Inc | 749527107 | 16,638.00 | $584,825.70 |
| 0.57% | Signet Jewelers Ltd | G81276100 | 9,859.00 | $585,328.83 |
| 0.56% | ChampionX Corp | 15872M104 | 19,542.00 | $580,201.98 |
| 0.56% | Sylvamo Corp | 871332102 | 7,121.00 | $577,085.84 |
| 0.56% | TripAdvisor Inc | 896945201 | 36,746.00 | $578,382.04 |
| 0.55% | Mattel Inc | 577081102 | 31,509.00 | $568,107.27 |
| 0.55% | Murphy Oil Corp | 626717102 | 18,417.00 | $568,348.62 |
| 0.55% | Teradata Corp | 88076W103 | 17,682.00 | $567,238.56 |
| 0.54% | Collegium Pharmaceutical Inc | 19459J104 | 17,145.00 | $558,069.75 |
| 0.54% | Supernus Pharmaceuticals Inc | 868459108 | 14,593.00 | $557,014.81 |
| 0.53% | Korn Ferry | 500643200 | 7,768.00 | $547,721.68 |
| 0.53% | Kulicke & Soffa Industries Inc | 501242101 | 11,873.00 | $552,925.61 |
| 0.53% | Steven Madden Ltd | 556269108 | 13,175.00 | $550,056.25 |
| 0.52% | Adeia Inc | 00676P107 | 40,263.00 | $535,497.90 |
| 0.52% | Hub Group Inc | 443320106 | 11,881.00 | $534,645.00 |
| 0.52% | Magnolia Oil & Gas Corp | 559663109 | 20,843.00 | $540,667.42 |
| 0.52% | Terex Corp | 880779103 | 11,165.00 | $542,842.30 |
| 0.52% | Teekay Tankers Ltd | G8726X106 | 13,118.00 | $536,788.56 |
| 0.52% | Winnebago Industries Inc | 974637100 | 11,296.00 | $537,802.56 |
| 0.52% | Ziff Davis Inc | 48123V102 | 10,005.00 | $536,067.90 |
| 0.51% | American Woodmark Corp | 030506109 | 6,512.00 | $530,923.36 |
| 0.51% | Monarch Casino & Resort Inc | 609027107 | 6,322.00 | $530,226.14 |
| 0.51% | Perdoceo Education Corp | 71363P106 | 18,885.00 | $525,380.70 |
| 0.51% | Virtus Investment Partners Inc | 92828Q109 | 2,531.00 | $529,181.48 |
| 0.51% | Worthington Enterprises Inc | 981811102 | 12,540.00 | $524,924.40 |
| 0.50% | Alliance Resource Partners LP | 01877R108 | 18,747.00 | $520,604.19 |
| 0.50% | Golden Entertainment Inc | 381013101 | 15,669.00 | $518,800.59 |
| 0.50% | G-III Apparel Group Ltd | 36237H101 | 16,302.00 | $512,860.92 |
| 0.50% | International Seaways Inc | Y41053102 | 14,370.00 | $522,062.10 |
| 0.50% | Dorian LPG Ltd | Y2106R110 | 21,681.00 | $517,959.09 |
| 0.50% | NetScout Systems Inc | 64115T104 | 22,724.00 | $513,789.64 |
| 0.50% | ScanSource Inc | 806037107 | 10,016.00 | $514,321.60 |
| 0.50% | World Kinect Corp | 981475106 | 18,110.00 | $512,150.80 |
| 0.49% | Artisan Partners Asset Management Inc | 04316A108 | 11,485.00 | $503,157.85 |
| 0.49% | Ardmore Shipping Corp | Y0207T100 | 44,558.00 | $508,406.78 |
| 0.49% | Buckle Inc/The | 118440106 | 10,498.00 | $504,008.98 |
| 0.49% | Peabody Energy Corp | 704551100 | 26,600.00 | $506,730.00 |
| 0.49% | PC Connection Inc | 69318J100 | 7,056.00 | $508,173.12 |
| 0.49% | DXC Technology Co | 23355L106 | 24,497.00 | $507,087.90 |
| 0.49% | Everi Holdings Inc | 30034T103 | 37,248.00 | $506,945.28 |
| 0.49% | Heidrick & Struggles International Inc | 422819102 | 11,135.00 | $511,207.85 |
| 0.49% | Innoviva Inc | 45781M101 | 27,159.00 | $503,256.27 |
| 0.49% | Masterbrand Inc | 57638P104 | 29,760.00 | $511,276.80 |
| 0.48% | Black Stone Minerals LP | 09225M101 | 32,300.00 | $493,544.00 |
| 0.48% | CTS Corp | 126501105 | 9,451.00 | $500,430.45 |
| 0.48% | Federated Hermes Inc | 314211103 | 13,101.00 | $497,444.97 |
| 0.48% | GigaCloud Technology Inc | G38644103 | 23,205.00 | $491,713.95 |
| 0.48% | Kimbell Royalty Partners LP | 49435R102 | 31,361.00 | $497,385.46 |
| 0.48% | Photronics Inc | 719405102 | 20,560.00 | $492,206.40 |
| 0.48% | PROG Holdings Inc | 74319R101 | 11,581.00 | $500,299.20 |
| 0.48% | TRI POINTE GROUP INC | 87265H109 | 13,344.00 | $500,800.32 |
| 0.47% | International Money Express Inc | 46005L101 | 24,130.00 | $485,254.30 |
| 0.47% | Pediatrix Medical Group Inc | 58502B106 | 34,397.00 | $483,965.79 |
| 0.47% | ODP Corp/The | 88337F105 | 21,241.00 | $485,781.67 |
| 0.47% | Shutterstock Inc | 825690100 | 15,912.00 | $485,156.88 |
| 0.46% | Andersons Inc/The | 034164103 | 11,178.00 | $480,877.56 |
| 0.46% | BlueLinx Holdings Inc | 09624H208 | 4,379.00 | $471,311.77 |
| 0.46% | Kforce Inc | 493732101 | 8,525.00 | $476,036.00 |
| 0.46% | Gibraltar Industries Inc | 374689107 | 7,728.00 | $476,740.32 |
| 0.45% | Cohu Inc | 192576106 | 18,776.00 | $460,575.28 |
| 0.45% | Ethan Allen Interiors Inc | 297602104 | 16,517.00 | $466,109.74 |
| 0.45% | Kennametal Inc | 489170100 | 19,329.00 | $467,568.51 |
| 0.44% | Genco Shipping & Trading Ltd | Y2685T131 | 32,468.00 | $452,279.24 |
| 0.44% | Upbound Group Inc | 76009N100 | 15,370.00 | $453,415.00 |
| 0.44% | NCR Voyix Corp | 62886E108 | 36,007.00 | $452,968.06 |
| 0.43% | Adient PLC | G0084W101 | 26,725.00 | $448,712.75 |
| 0.43% | Cars.com Inc | 14575E105 | 25,977.00 | $445,765.32 |
| 0.43% | Shoe Carnival Inc | 824889109 | 14,964.00 | $445,478.28 |
| 0.42% | Malibu Boats Inc | 56117J100 | 11,923.00 | $435,308.73 |
| 0.41% | Quanex Building Products Corp | 747619104 | 17,899.00 | $419,373.57 |
| 0.41% | Sally Beauty Holdings Inc | 79546E104 | 38,331.00 | $425,857.41 |
| 0.40% | eXp World Holdings Inc | 30212W100 | 36,929.00 | $411,019.77 |
| 0.40% | Helix Energy Solutions Group Inc | 42330P107 | 47,345.00 | $411,428.05 |
| 0.40% | Wabash National Corp | 929566107 | 26,208.00 | $418,803.84 |
| 0.39% | SunCoke Energy Inc | 86722A103 | 39,992.00 | $405,518.88 |
| 0.37% | Apogee Enterprises Inc | 037598109 | 6,680.00 | $378,956.40 |
| 0.36% | Scholastic Corp | 807066105 | 19,364.00 | $374,112.48 |
| 0.31% | CALERES INC COM | 129500104 | 16,200.00 | $320,274.00 |
| 0.04% | Cash & Other | Cash&Other | 45,380.02 | $45,380.02 |
Holdings are subject to change at any time and should not be considered a recommendation to buy or sell any security.
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.
