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 10/11/2024
| Ticker | DSMC |
| NAV | 36.02 |
| Market Price | 36.03 |
| Net Assets | $99,056,620 |
| Shares Outstanding | 2,750,000 |
| 30-day SEC Yield as of 9/30/2024 | 1.09% |
| Inception | 10/5/2022 |
| Primary Exchange | NYSE |
| CUSIP | 26922B667 |
| Expense Ratio | 0.55% |
| Premium/Discount % | 0.04 |
| Median 30-day Bid/Ask Spread | 0.08% |
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
10/5/2022-9/30/2024
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 09/30/2024
| YTD | 1 YR1 | 3 YR | SINCE INCEPTION2 | |
|---|---|---|---|---|
| 1DSMC NAV | 5.55% | 18.91% | - | 21.82% |
| 2DSMC MKT | 5.59% | 18.95% | - | 21.88% |
| 3Morningstar US Small Cap TR USD | 10.49% | 26.04% | - | 16.48% |
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 10/11/2024
| 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | |
|---|---|---|---|---|---|
| Days at premium | 141 | 45 | 58 | 54 | 6 |
| Days at zero premium/discount | 20 | 4 | 2 | 2 | 0 |
| Days at discount | 86 | 12 | 3 | 8 | 3 |
TOP 10 HOLDINGS
As of 10/14/2024
| Percent Net Assets | Name | Identifier | Shares Held | Market Value |
|---|---|---|---|---|
| 2.02% | Expand Energy Corp | 165167735 | 22,945.65 | $2,005,220.35 |
| 1.58% | Dillard's Inc | 254067101 | 4,299.00 | $1,567,114.47 |
| 1.58% | Owens Corning | 690742101 | 8,696.00 | $1,569,193.20 |
| 1.55% | Toll Brothers Inc | 889478103 | 10,230.00 | $1,533,067.80 |
| 1.46% | WEX Inc | 96208T104 | 6,760.00 | $1,444,138.80 |
| 1.43% | Crocs Inc | 227046109 | 10,151.00 | $1,416,572.05 |
| 1.37% | Alpha Metallurgical Resources Inc | 020764106 | 6,055.00 | $1,357,531.00 |
| 1.35% | Chord Energy Corp | 674215207 | 9,995.00 | $1,336,431.45 |
| 1.33% | InterDigital Inc | 45867G101 | 8,467.00 | $1,315,094.44 |
| 1.30% | Qorvo Inc | 74736K101 | 12,657.00 | $1,288,862.31 |
| 1.29% | CF Industries Holdings Inc | 125269100 | 14,600.00 | $1,282,026.00 |
| 1.28% | Atkore Inc | 047649108 | 14,545.00 | $1,268,324.00 |
| 1.16% | Arch Resources Inc | 03940R107 | 7,865.00 | $1,146,717.00 |
| 1.13% | Etsy Inc | 29786A106 | 22,562.00 | $1,121,105.78 |
| 1.03% | KB Home | 48666K109 | 12,832.00 | $1,022,967.04 |
| 1.01% | Sterling Infrastructure Inc | 859241101 | 6,357.00 | $998,684.70 |
| 1.00% | Jazz Pharmaceuticals PLC | G50871105 | 9,086.00 | $988,556.80 |
| 0.95% | Signet Jewelers Ltd | G81276100 | 9,746.00 | $937,175.36 |
| 0.93% | Tapestry Inc | 876030107 | 20,335.00 | $920,565.45 |
| 0.87% | Boise Cascade Co | 09739D100 | 6,086.00 | $866,463.82 |
| 0.87% | Robert Half Inc | 770323103 | 12,781.00 | $859,394.44 |
| 0.86% | CONSOL Energy Inc | 20854L108 | 7,725.00 | $855,003.00 |
| 0.85% | Ovintiv Inc | 69047Q102 | 19,597.00 | $845,218.61 |
| 0.85% | Molson Coors Beverage Co | 60871R209 | 15,511.00 | $844,573.95 |
| 0.84% | Allison Transmission Holdings Inc | 01973R101 | 8,277.00 | $829,769.25 |
| 0.83% | Carter's Inc | 146229109 | 13,362.00 | $826,172.46 |
| 0.83% | Oshkosh Corp | 688239201 | 7,927.00 | $824,090.92 |
| 0.82% | Matson Inc | 57686G105 | 5,908.00 | $809,691.40 |
| 0.81% | Gulfport Energy Corp | 402635502 | 5,338.00 | $800,433.10 |
| 0.80% | Bath & Body Works Inc | 070830104 | 25,354.00 | $796,876.22 |
| 0.80% | Thor Industries Inc | 885160101 | 7,231.00 | $794,108.42 |
| 0.78% | Amdocs Ltd | G02602103 | 8,725.00 | $769,981.25 |
| 0.77% | Brink's Co/The | 109696104 | 6,839.00 | $762,001.38 |
| 0.77% | Cal-Maine Foods Inc | 128030202 | 8,464.00 | $765,568.80 |
| 0.76% | Argan Inc | 04010E109 | 6,531.00 | $751,979.34 |
| 0.75% | Matador Resources Co | 576485205 | 13,488.00 | $738,468.00 |
| 0.74% | APA Corp | 03743Q108 | 26,936.00 | $729,157.52 |
| 0.74% | HF Sinclair Corp | 403949100 | 15,924.00 | $730,593.12 |
| 0.74% | SM Energy Co | 78454L100 | 15,990.00 | $728,344.50 |
| 0.73% | Academy Sports & Outdoors Inc | 00402L107 | 13,290.00 | $722,843.10 |
| 0.72% | Taylor Morrison Home Corp | 87724P106 | 10,527.00 | $709,519.80 |
| 0.71% | Civitas Resources Inc | 17888H103 | 12,892.00 | $699,648.84 |
| 0.70% | Interpublic Group of Cos Inc/The | 460690100 | 22,197.00 | $696,763.83 |
| 0.69% | Antero Resources Corp | 03674X106 | 23,383.00 | $683,952.75 |
| 0.69% | BorgWarner Inc | 099724106 | 19,496.00 | $683,334.80 |
| 0.69% | LCI Industries | 50189K103 | 5,806.00 | $681,740.52 |
| 0.68% | Columbia Sportswear Co | 198516106 | 8,436.00 | $675,976.68 |
| 0.67% | Warrior Met Coal Inc | 93627C101 | 10,422.00 | $665,548.92 |
| 0.66% | GMS Inc | 36251C103 | 7,118.00 | $656,208.42 |
| 0.66% | Terex Corp | 880779103 | 11,718.00 | $650,114.64 |
| 0.66% | Victoria's Secret & Co | 926400102 | 25,021.00 | $651,797.05 |
| 0.65% | First American Government Obligations Fund 12/01/2031 | 31846V336 | 641,164.30 | $641,164.30 |
| 0.64% | GigaCloud Technology Inc | G38644103 | 25,215.00 | $636,426.60 |
| 0.64% | Grand Canyon Education Inc | 38526M106 | 4,724.00 | $630,512.28 |
| 0.64% | SEI Investments Co | 784117103 | 9,018.00 | $632,161.80 |
| 0.63% | California Resources Corp | 13057Q305 | 11,563.00 | $620,817.47 |
| 0.63% | Euronet Worldwide Inc | 298736109 | 6,367.00 | $625,303.07 |
| 0.62% | LKQ Corp | 501889208 | 15,749.00 | $614,840.96 |
| 0.62% | Murphy Oil Corp | 626717102 | 17,205.00 | $617,831.55 |
| 0.61% | Atmus Filtration Technologies Inc | 04956D107 | 15,352.00 | $607,939.20 |
| 0.61% | Dropbox Inc | 26210C104 | 23,333.00 | $604,324.70 |
| 0.61% | Range Resources Corp | 75281A109 | 19,108.00 | $600,373.36 |
| 0.60% | Sylvamo Corp | 871332102 | 7,057.00 | $590,670.90 |
| 0.59% | BlueLinx Holdings Inc | 09624H208 | 5,338.00 | $583,176.50 |
| 0.59% | ChampionX Corp | 15872M104 | 18,157.00 | $580,297.72 |
| 0.59% | Magnolia Oil & Gas Corp | 559663109 | 21,793.00 | $589,282.72 |
| 0.59% | Mosaic Co/The | 61945C103 | 22,170.00 | $579,967.20 |
| 0.59% | Vista Outdoor Inc | 928377100 | 13,248.00 | $586,488.96 |
| 0.59% | DENTSPLY SIRONA Inc | 24906P109 | 23,702.00 | $581,410.06 |
| 0.58% | Cleveland-Cliffs Inc | 185899101 | 43,768.00 | $575,111.52 |
| 0.58% | Steven Madden Ltd | 556269108 | 12,096.00 | $579,156.48 |
| 0.57% | American Woodmark Corp | 030506109 | 6,117.00 | $564,537.93 |
| 0.57% | Apogee Enterprises Inc | 037598109 | 7,231.00 | $565,608.82 |
| 0.57% | Diodes Inc | 254543101 | 8,701.00 | $562,606.66 |
| 0.57% | Genpact Ltd | G3922B107 | 14,547.00 | $566,751.12 |
| 0.57% | International Seaways Inc | Y41053102 | 10,795.00 | $560,584.35 |
| 0.57% | Teradata Corp | 88076W103 | 18,001.00 | $566,491.47 |
| 0.57% | TRI POINTE GROUP INC | 87265H109 | 13,032.00 | $568,977.12 |
| 0.57% | Virtus Investment Partners Inc | 92828Q109 | 2,715.00 | $564,475.65 |
| 0.56% | Federated Hermes Inc | 314211103 | 15,059.00 | $552,062.94 |
| 0.56% | ManpowerGroup Inc | 56418H100 | 7,811.00 | $558,877.05 |
| 0.56% | PROG Holdings Inc | 74319R101 | 11,478.00 | $550,829.22 |
| 0.56% | Victory Capital Holdings Inc | 92645B103 | 9,609.00 | $559,532.07 |
| 0.56% | Winnebago Industries Inc | 974637100 | 9,550.00 | $555,237.00 |
| 0.55% | G-III Apparel Group Ltd | 36237H101 | 17,969.00 | $547,156.05 |
| 0.55% | Korn Ferry | 500643200 | 7,648.00 | $549,279.36 |
| 0.55% | Kulicke & Soffa Industries Inc | 501242101 | 12,104.00 | $547,948.08 |
| 0.55% | Insperity Inc | 45778Q107 | 6,187.00 | $541,671.85 |
| 0.55% | Teekay Tankers Ltd | G8726X106 | 9,142.00 | $541,480.66 |
| 0.54% | Malibu Boats Inc | 56117J100 | 13,126.00 | $534,884.50 |
| 0.53% | Artisan Partners Asset Management Inc | 04316A108 | 12,110.00 | $525,695.10 |
| 0.53% | Masterbrand Inc | 57638P104 | 29,398.00 | $522,696.44 |
| 0.53% | Quanex Building Products Corp | 747619104 | 18,325.00 | $521,529.50 |
| 0.53% | Oxford Industries Inc | 691497309 | 6,922.00 | $529,463.78 |
| 0.53% | World Kinect Corp | 981475106 | 17,048.00 | $524,226.00 |
| 0.52% | Envista Holdings Corp | 29415F104 | 28,314.00 | $513,332.82 |
| 0.52% | Prestige Consumer Healthcare Inc | 74112D101 | 7,394.00 | $514,474.52 |
| 0.51% | Buckle Inc/The | 118440106 | 12,025.00 | $509,258.75 |
| 0.51% | Everi Holdings Inc | 30034T103 | 37,998.00 | $501,573.60 |
| 0.51% | Pediatrix Medical Group Inc | 58502B106 | 41,702.00 | $505,011.22 |
| 0.51% | RPC Inc | 749660106 | 71,717.00 | $504,170.51 |
| 0.51% | John Wiley & Sons Inc | 968223206 | 10,104.00 | $501,865.68 |
| 0.50% | AllianceBernstein Holding LP | 01881G106 | 14,036.00 | $496,453.32 |
| 0.50% | Alliance Resource Partners LP | 01877R108 | 19,520.00 | $493,270.40 |
| 0.50% | PC Connection Inc | 69318J100 | 6,657.00 | $490,554.33 |
| 0.50% | Collegium Pharmaceutical Inc | 19459J104 | 13,175.00 | $496,961.00 |
| 0.50% | eXp World Holdings Inc | 30212W100 | 37,584.00 | $496,484.64 |
| 0.50% | Monarch Casino & Resort Inc | 609027107 | 6,568.00 | $497,394.64 |
| 0.50% | ODP Corp/The | 88337F105 | 16,358.00 | $491,557.90 |
| 0.50% | Pacira BioSciences Inc | 695127100 | 30,738.00 | $498,570.36 |
| 0.50% | Gibraltar Industries Inc | 374689107 | 7,444.00 | $499,715.72 |
| 0.50% | TripAdvisor Inc | 896945201 | 33,826.00 | $490,477.00 |
| 0.48% | Black Stone Minerals LP | 09225M101 | 30,892.00 | $470,794.08 |
| 0.48% | CTS Corp | 126501105 | 9,800.00 | $472,850.00 |
| 0.48% | DXC Technology Co | 23355L106 | 23,718.00 | $474,834.36 |
| 0.48% | Genco Shipping & Trading Ltd | Y2685T131 | 26,428.00 | $471,475.52 |
| 0.48% | Hub Group Inc | 443320106 | 10,924.00 | $475,303.24 |
| 0.48% | Innoviva Inc | 45781M101 | 24,050.00 | $476,190.00 |
| 0.48% | Kimbell Royalty Partners LP | 49435R102 | 29,068.00 | $477,877.92 |
| 0.48% | Dorian LPG Ltd | Y2106R110 | 13,376.00 | $472,039.04 |
| 0.48% | NetScout Systems Inc | 64115T104 | 21,847.00 | $474,298.37 |
| 0.48% | Ziff Davis Inc | 48123V102 | 10,609.00 | $475,919.74 |
| 0.47% | Andersons Inc/The | 034164103 | 9,430.00 | $461,881.40 |
| 0.47% | Heidrick & Struggles International Inc | 422819102 | 12,271.00 | $462,984.83 |
| 0.47% | Sturm Ruger & Co Inc | 864159108 | 11,219.00 | $463,681.27 |
| 0.47% | Supernus Pharmaceuticals Inc | 868459108 | 14,083.00 | $464,739.00 |
| 0.46% | Extreme Networks Inc | 30226D106 | 29,810.00 | $457,583.50 |
| 0.46% | Harmony Biosciences Holdings Inc | 413197104 | 13,197.00 | $459,651.51 |
| 0.46% | International Money Express Inc | 46005L101 | 25,817.00 | $455,670.05 |
| 0.46% | Premier Inc | 74051N102 | 23,485.00 | $454,434.75 |
| 0.46% | Sally Beauty Holdings Inc | 79546E104 | 35,980.00 | $454,427.40 |
| 0.45% | Cohu Inc | 192576106 | 17,492.00 | $445,521.24 |
| 0.45% | Ethan Allen Interiors Inc | 297602104 | 15,014.00 | $445,765.66 |
| 0.45% | Helix Energy Solutions Group Inc | 42330P107 | 41,257.00 | $442,687.61 |
| 0.45% | Janus International Group Inc | 47103N106 | 44,092.00 | $447,533.80 |
| 0.45% | Photronics Inc | 719405102 | 18,243.00 | $441,480.60 |
| 0.45% | Shutterstock Inc | 825690100 | 14,295.00 | $449,720.70 |
| 0.45% | SunCoke Energy Inc | 86722A103 | 51,008.00 | $442,239.36 |
| 0.45% | Wabash National Corp | 929566107 | 24,074.00 | $448,739.36 |
| 0.44% | Adeia Inc | 00676P107 | 36,567.00 | $434,415.96 |
| 0.44% | Ardmore Shipping Corp | Y0207T100 | 24,704.00 | $436,519.68 |
| 0.44% | Perdoceo Education Corp | 71363P106 | 20,624.00 | $434,960.16 |
| 0.44% | REV Group Inc | 749527107 | 15,543.00 | $437,846.31 |
| 0.43% | Golden Entertainment Inc | 381013101 | 14,412.00 | $426,739.32 |
| 0.43% | Repay Holdings Corp | 76029L100 | 53,890.00 | $425,731.00 |
| 0.43% | Worthington Enterprises Inc | 981811102 | 10,480.00 | $422,134.40 |
| 0.41% | Cars.com Inc | 14575E105 | 26,091.00 | $408,324.15 |
| 0.40% | CALERES INC COM | 129500104 | 12,006.00 | $392,596.20 |
| 0.40% | Scholastic Corp | 807066105 | 14,575.00 | $394,399.50 |
| 0.02% | Cash & Other | Cash&Other | 15,576.79 | $15,576.79 |
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.
