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 05/29/2026
| Ticker | DSMC |
| NAV | 39.93 |
| Market Price | 39.96 |
| Net Assets | $125,764,694 |
| Shares Outstanding | 3,150,000 |
| 30-day SEC Yield as of 2/28/2026 | 1.04% |
| Inception | 10/5/2022 |
| Primary Exchange | NYSE |
| CUSIP | 26922B667 |
| Expense Ratio | 0.55% |
| Premium/Discount % | 0.08 |
| Median 30-day Bid/Ask Spread | 0.10% |
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
10/5/2022-3/31/2026
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 04/30/2026
| YTD | 1 YR1 | 3 YR | SINCE INCEPTION2 | |
|---|---|---|---|---|
| 1DSMC NAV | 12.36% | 34.15% | 13.84% | 15.34% |
| 2DSMC MKT | 12.32% | 34.37% | 13.84% | 15.36% |
| 3Russell 2000 Index | 13.21% | 44.41% | 18.19% | 15.48% |
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 05/29/2026
| 2023 | 2024 | 2025 | Q1 2026 | Q2 2026 | Q3 2026 | Q4 2026 | |
|---|---|---|---|---|---|---|---|
| Days at premium | 141 | 212 | 177 | 41 | 20 | - | - |
| Days at zero premium/discount | 20 | 8 | 11 | 2 | 4 | - | - |
| Days at discount | 86 | 32 | 63 | 18 | 17 | - | - |
DISTRIBUTIONS
| Ex-Date | Record Date | Payable Date | Amount | Type |
|---|---|---|---|---|
| 03/26/2026 | 03/26/2026 | 03/27/2026 | $0.10517 | Div Income |
| 12/29/2025 | 12/29/2025 | 12/30/2025 | $0.15086 | Div Income |
| 09/24/2025 | 09/24/2025 | 09/25/2025 | $0.08623 | Div Income |
| 06/25/2025 | 06/25/2025 | 06/26/2025 | $0.10760 | Div Income |
| 03/26/2025 | 03/26/2025 | 03/27/2025 | $0.07560 | Div Income |
| 12/27/2024 | 12/27/2024 | 12/30/2024 | $0.16000 | Div Income |
| 09/25/2024 | 09/25/2024 | 09/26/2024 | $0.09517 | Div Income |
| 06/26/2024 | 06/26/2024 | 06/27/2024 | $0.10473 | Div Income |
TOP 10 HOLDINGS
As of 06/01/2026
| Percent Net Assets | Name | Identifier | Shares Held | Market Value |
|---|---|---|---|---|
| 1.50% | Versant Media Group Inc | 925283103 | 43,624.00 | $1,881,939.36 |
| 1.18% | Invesco Ltd | G491BT108 | 52,215.00 | $1,486,038.90 |
| 1.11% | CDW Corp/DE | 12514G108 | 11,174.00 | $1,401,778.30 |
| 1.11% | HF Sinclair Corp | 403949100 | 20,027.00 | $1,399,687.03 |
| 1.11% | Skyworks Solutions Inc | 83088M102 | 17,891.00 | $1,392,814.35 |
| 1.09% | DXC Technology Co | 23355L106 | 137,940.00 | $1,366,985.40 |
| 1.07% | APA Corp | 03743Q108 | 36,885.00 | $1,343,720.55 |
| 1.06% | Gartner Inc | 366651107 | 8,255.00 | $1,338,961.00 |
| 1.04% | Toll Brothers Inc | 889478103 | 9,442.00 | $1,308,094.68 |
| 1.03% | Carlisle Cos Inc | 142339100 | 3,770.00 | $1,299,933.70 |
| 1.01% | GoDaddy Inc | 380237107 | 14,740.00 | $1,265,134.20 |
| 1.00% | Jazz Pharmaceuticals PLC | G50871105 | 5,315.00 | $1,256,944.35 |
| 0.99% | Masco Corp | 574599106 | 17,756.00 | $1,247,359.00 |
| 0.95% | Antero Resources Corp | 03674X106 | 33,318.00 | $1,191,118.50 |
| 0.93% | LKQ Corp | 501889208 | 43,142.00 | $1,170,011.04 |
| 0.90% | Chord Energy Corp | 674215207 | 8,603.00 | $1,134,477.61 |
| 0.89% | Crocs Inc | 227046109 | 9,427.00 | $1,118,702.09 |
| 0.89% | Ingredion Inc | 457187102 | 11,029.00 | $1,118,781.76 |
| 0.87% | Core & Main Inc | 21874C102 | 22,192.00 | $1,097,394.40 |
| 0.87% | Hormel Foods Corp | 440452100 | 47,217.00 | $1,096,850.91 |
| 0.87% | Pilgrim's Pride Corp | 72147K108 | 38,568.00 | $1,091,860.08 |
| 0.84% | Bath & Body Works Inc | 070830104 | 52,774.00 | $1,056,535.48 |
| 0.84% | Cal-Maine Foods Inc | 128030202 | 14,174.00 | $1,059,081.28 |
| 0.84% | Universal Health Services Inc | 913903100 | 7,237.00 | $1,057,398.07 |
| 0.82% | Mohawk Industries Inc | 608190104 | 9,634.00 | $1,034,884.28 |
| 0.82% | Match Group Inc | 57667L107 | 28,685.00 | $1,036,389.05 |
| 0.82% | Smithfield Foods Inc | 832248207 | 39,911.00 | $1,030,901.13 |
| 0.81% | Dillard's Inc | 254067101 | 1,724.00 | $1,017,522.04 |
| 0.80% | H&R Block Inc | 093671105 | 26,242.00 | $1,010,054.58 |
| 0.79% | Dropbox Inc | 26210C104 | 36,824.00 | $989,829.12 |
| 0.79% | Gap Inc/The | 364760108 | 47,070.00 | $995,530.50 |
| 0.78% | Amdocs Ltd | G02602103 | 15,562.00 | $979,939.14 |
| 0.78% | Middleby Corp/The | 596278101 | 6,351.00 | $984,468.51 |
| 0.77% | AECOM | 00766T100 | 13,991.00 | $970,555.67 |
| 0.77% | FactSet Research Systems Inc | 303075105 | 3,969.00 | $974,270.43 |
| 0.77% | Taylor Morrison Home Corp | 87724P106 | 16,593.00 | $970,690.50 |
| 0.76% | Pool Corp | 73278L105 | 5,285.00 | $958,699.00 |
| 0.75% | Euronet Worldwide Inc | 298736109 | 12,942.00 | $938,036.16 |
| 0.75% | PVH Corp | 693656100 | 10,051.00 | $937,557.28 |
| 0.74% | A O Smith Corp | 831865209 | 16,394.00 | $929,867.68 |
| 0.74% | Acuity Inc | 00508Y102 | 3,046.00 | $929,365.06 |
| 0.74% | Genpact Ltd | G3922B107 | 28,229.00 | $930,145.55 |
| 0.74% | Mattel Inc | 577081102 | 62,155.00 | $928,595.70 |
| 0.74% | Murphy Oil Corp | 626717102 | 25,754.00 | $932,037.26 |
| 0.74% | Thor Industries Inc | 885160101 | 11,770.00 | $930,771.60 |
| 0.73% | Insight Enterprises Inc | 45765U103 | 8,604.00 | $915,293.52 |
| 0.73% | Weatherford International PLC | G48833118 | 8,800.00 | $912,032.00 |
| 0.72% | NOV Inc | 62955J103 | 45,291.00 | $899,932.17 |
| 0.72% | Oscar Health Inc | 687793109 | 40,796.00 | $906,895.08 |
| 0.71% | Qorvo Inc | 74736K101 | 8,590.00 | $889,580.40 |
| 0.70% | California Resources Corp | 13057Q305 | 14,764.00 | $875,357.56 |
| 0.70% | Signet Jewelers Ltd | G81276100 | 10,139.00 | $886,047.21 |
| 0.68% | Peabody Energy Corp | 704551100 | 31,706.00 | $857,647.30 |
| 0.68% | KBR Inc | 48242W106 | 24,363.00 | $851,486.85 |
| 0.67% | EPAM Systems Inc | 29414B104 | 8,279.00 | $848,266.34 |
| 0.67% | Robert Half Inc | 770323103 | 28,607.00 | $842,190.08 |
| 0.66% | Abercrombie & Fitch Co | 002896207 | 10,765.00 | $831,273.30 |
| 0.66% | Cabot Corp | 127055101 | 9,518.00 | $832,920.18 |
| 0.66% | Parsons Corp | 70202L102 | 13,959.00 | $824,976.90 |
| 0.66% | Reynolds Consumer Products Inc | 76171L106 | 38,096.00 | $825,540.32 |
| 0.66% | WEX Inc | 96208T104 | 5,752.00 | $833,809.92 |
| 0.65% | Columbia Sportswear Co | 198516106 | 12,416.00 | $821,690.88 |
| 0.65% | Gentex Corp | 371901109 | 33,833.00 | $817,405.28 |
| 0.65% | Teekay Tankers Ltd | G8726X106 | 11,657.00 | $820,069.95 |
| 0.64% | Brink's Co/The | 109696104 | 7,688.00 | $799,705.76 |
| 0.64% | G-III Apparel Group Ltd | 36237H101 | 24,807.00 | $802,010.31 |
| 0.64% | Patterson-UTI Energy Inc | 703481101 | 72,954.00 | $810,518.94 |
| 0.64% | Vontier Corp | 928881101 | 28,567.00 | $810,731.46 |
| 0.63% | Federated Hermes Inc | 314211103 | 14,036.00 | $786,858.16 |
| 0.63% | LCI Industries | 50189K103 | 7,210.00 | $786,034.20 |
| 0.62% | Worthington Enterprises Inc | 981811102 | 13,770.00 | $781,722.90 |
| 0.61% | AMN Healthcare Services Inc | 001744101 | 26,465.00 | $766,691.05 |
| 0.61% | Par Pacific Holdings Inc | 69888T207 | 13,756.00 | $772,536.96 |
| 0.60% | Alpha Metallurgical Resources Inc | 020764106 | 3,808.00 | $757,677.76 |
| 0.60% | CVR Energy Inc | 12662P108 | 22,612.00 | $751,170.64 |
| 0.60% | Stride Inc | 86333M108 | 8,118.00 | $749,940.84 |
| 0.60% | M/I Homes Inc | 55305B101 | 5,686.00 | $748,391.32 |
| 0.60% | Maximus Inc | 577933104 | 12,194.00 | $755,174.42 |
| 0.60% | Talos Energy Inc | 87484T108 | 51,382.00 | $753,773.94 |
| 0.60% | TriNet Group Inc | 896288107 | 16,385.00 | $748,466.80 |
| 0.59% | Core Natural Resources Inc | 218937100 | 8,452.00 | $747,494.88 |
| 0.59% | International Seaways Inc | Y41053102 | 9,566.00 | $738,399.54 |
| 0.58% | Adient PLC | G0084W101 | 32,012.00 | $731,794.32 |
| 0.58% | Harmony Biosciences Holdings Inc | 413197104 | 23,030.00 | $727,517.70 |
| 0.58% | Korn Ferry | 500643200 | 10,373.00 | $725,902.54 |
| 0.57% | Boise Cascade Co | 09739D100 | 10,267.00 | $713,556.50 |
| 0.57% | Collegium Pharmaceutical Inc | 19459J104 | 21,394.00 | $719,052.34 |
| 0.57% | Envista Holdings Corp | 29415F104 | 30,285.00 | $713,211.75 |
| 0.57% | Option Care Health Inc | 68404L201 | 34,279.00 | $715,402.73 |
| 0.57% | Prestige Consumer Healthcare Inc | 74112D101 | 14,959.00 | $711,001.27 |
| 0.57% | Teradata Corp | 88076W103 | 20,877.00 | $710,861.85 |
| 0.56% | Carter's Inc | 146229109 | 18,186.00 | $701,797.74 |
| 0.56% | EVERTEC Inc | 30040P103 | 28,938.00 | $708,112.86 |
| 0.56% | Tidewater Inc | 88642R109 | 9,552.00 | $701,976.48 |
| 0.56% | V2X Inc | 92242T101 | 8,488.00 | $705,607.44 |
| 0.56% | Ziff Davis Inc | 48123V102 | 15,764.00 | $710,483.48 |
| 0.55% | AdaptHealth Corp | 00653Q102 | 68,480.00 | $693,702.40 |
| 0.55% | Blackbaud Inc | 09227Q100 | 22,519.00 | $691,108.11 |
| 0.55% | Gulfport Energy Corp | 402635502 | 4,138.00 | $697,625.42 |
| 0.55% | Qualys Inc | 74758T303 | 6,309.00 | $689,510.61 |
| 0.55% | Sylvamo Corp | 871332102 | 17,568.00 | $689,895.36 |
| 0.54% | National Beverage Corp | 635017106 | 18,320.00 | $677,656.80 |
| 0.54% | Dorian LPG Ltd | Y2106R110 | 16,962.00 | $682,211.64 |
| 0.54% | Pediatrix Medical Group Inc | 58502B106 | 31,556.00 | $679,716.24 |
| 0.54% | PROG Holdings Inc | 74319R101 | 18,546.00 | $681,936.42 |
| 0.54% | Worthington Steel Inc | 982104101 | 15,957.00 | $673,225.83 |
| 0.53% | Alamo Group Inc | 011311107 | 4,385.00 | $660,863.35 |
| 0.53% | Alarm.com Holdings Inc | 011642105 | 14,710.00 | $663,568.10 |
| 0.53% | DNOW Inc | 67011P100 | 51,861.00 | $663,302.19 |
| 0.53% | Innoviva Inc | 45781M101 | 31,121.00 | $666,611.82 |
| 0.53% | Interparfums Inc | 458334109 | 7,065.00 | $666,724.05 |
| 0.53% | Magnite Inc | 55955D100 | 46,414.00 | $665,112.62 |
| 0.53% | Marzetti Company/The | 513847103 | 6,000.00 | $671,640.00 |
| 0.53% | Payoneer Global Inc | 70451X104 | 127,292.00 | $661,918.40 |
| 0.53% | Boston Beer Co Inc/The | 100557107 | 3,759.00 | $666,395.52 |
| 0.53% | ScanSource Inc | 806037107 | 14,470.00 | $669,526.90 |
| 0.53% | Simply Good Foods Co/The | 82900L102 | 57,958.00 | $667,676.16 |
| 0.52% | Apogee Enterprises Inc | 037598109 | 17,015.00 | $653,546.15 |
| 0.52% | Herbalife Ltd | G4412G101 | 54,791.00 | $655,300.36 |
| 0.52% | Helix Energy Solutions Group Inc | 42330P107 | 69,408.00 | $648,964.80 |
| 0.52% | Perdoceo Education Corp | 71363P106 | 20,171.00 | $650,111.33 |
| 0.52% | Yelp Inc | 985817105 | 28,857.00 | $657,939.60 |
| 0.51% | Buckle Inc/The | 118440106 | 14,000.00 | $642,180.00 |
| 0.51% | ICF International Inc | 44925C103 | 9,276.00 | $638,559.84 |
| 0.51% | Ironwood Pharmaceuticals Inc | 46333X108 | 178,107.00 | $635,841.99 |
| 0.51% | Kforce Inc | 493732101 | 13,676.00 | $642,635.24 |
| 0.51% | Interface Inc | 458665304 | 21,518.00 | $636,932.80 |
| 0.51% | Winnebago Industries Inc | 974637100 | 21,665.00 | $643,233.85 |
| 0.50% | Amphastar Pharmaceuticals Inc | 03209R103 | 33,687.00 | $634,999.95 |
| 0.50% | Blue Bird Corp | 095306106 | 9,189.00 | $622,738.53 |
| 0.50% | GigaCloud Technology Inc | G38644103 | 17,526.00 | $631,637.04 |
| 0.50% | IDT Corp | 448947507 | 11,421.00 | $629,982.36 |
| 0.49% | Addus HomeCare Corp | 006739106 | 6,726.00 | $616,639.68 |
| 0.49% | Certara Inc | 15687V109 | 106,554.00 | $620,144.28 |
| 0.49% | Donnelley Financial Solutions Inc | 25787G100 | 15,435.00 | $612,615.15 |
| 0.49% | GoodRx Holdings Inc | 38246G108 | 211,143.00 | $616,537.56 |
| 0.49% | Lindsay Corp | 535555106 | 5,597.00 | $611,696.13 |
| 0.49% | Insperity Inc | 45778Q107 | 17,740.00 | $611,497.80 |
| 0.49% | Pacira BioSciences Inc | 695127100 | 26,523.00 | $615,864.06 |
| 0.49% | ePlus Inc | 294268107 | 7,574.00 | $621,749.66 |
| 0.49% | SunCoke Energy Inc | 86722A103 | 68,216.00 | $614,626.16 |
| 0.49% | Upwork Inc | 91688F104 | 69,446.00 | $612,513.72 |
| 0.48% | J & J Snack Foods Corp | 466032109 | 7,963.00 | $606,143.56 |
| 0.48% | Myers Industries Inc | 628464109 | 26,415.00 | $602,262.00 |
| 0.48% | Scholastic Corp | 807066105 | 14,866.00 | $602,073.00 |
| 0.47% | NerdWallet Inc | 64082B102 | 69,071.00 | $594,010.60 |
| 0.47% | Riley Exploration Permian Inc | 76665T102 | 17,636.00 | $586,573.36 |
| 0.47% | Root Inc/OH | 77664L207 | 11,451.00 | $596,139.06 |
| 0.46% | Ardmore Shipping Corp | Y0207T100 | 36,026.00 | $579,298.08 |
| 0.45% | Tactile Systems Technology Inc | 87357P100 | 23,029.00 | $566,743.69 |
| 0.14% | Masterbrand Inc | 57638P104 | 19,637.05 | $170,449.59 |
| 0.12% | Cash & Other | Cash&Other | 151,524.39 | $151,524.39 |
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.
