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 12/04/2024
| Ticker | DSMC |
| NAV | 37.91 |
| Market Price | 37.94 |
| Net Assets | $107,096,246 |
| Shares Outstanding | 2,825,000 |
| 30-day SEC Yield as of 11/30/2024 | 1.06% |
| Inception | 10/5/2022 |
| Primary Exchange | NYSE |
| CUSIP | 26922B667 |
| Expense Ratio | 0.55% |
| Premium/Discount % | 0.07 |
| 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
10/5/2022-9/30/2024
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 12/04/2024
| 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | |
|---|---|---|---|---|---|
| Days at premium | 141 | 45 | 58 | 54 | 43 |
| Days at zero premium/discount | 20 | 4 | 2 | 2 | 0 |
| Days at discount | 86 | 12 | 3 | 8 | 3 |
DISTRIBUTIONS
| Ex-Date | Record Date | Payable Date | Amount | Type |
|---|---|---|---|---|
| 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 |
| 12/29/2022 | 12/30/2022 | 12/30/2022 | $0.07373 | Div Income |
TOP 10 HOLDINGS
As of 12/06/2024
| Percent Net Assets | Name | Identifier | Shares Held | Market Value |
|---|---|---|---|---|
| 1.52% | Dillard's Inc | 254067101 | 3,621.00 | $1,599,395.70 |
| 1.51% | Crocs Inc | 227046109 | 14,442.00 | $1,587,320.22 |
| 1.51% | Owens Corning | 690742101 | 7,943.00 | $1,589,870.88 |
| 1.47% | Chord Energy Corp | 674215207 | 12,701.00 | $1,545,838.71 |
| 1.47% | Tapestry Inc | 876030107 | 24,489.00 | $1,548,194.58 |
| 1.44% | Toll Brothers Inc | 889478103 | 9,863.00 | $1,520,282.82 |
| 1.42% | Cavco Industries Inc | 149568107 | 3,005.00 | $1,496,640.25 |
| 1.33% | CF Industries Holdings Inc | 125269100 | 15,647.00 | $1,398,372.39 |
| 1.31% | CH Robinson Worldwide Inc | 12541W209 | 13,067.00 | $1,379,221.85 |
| 1.26% | Mohawk Industries Inc | 608190104 | 10,113.00 | $1,329,151.59 |
| 1.25% | WEX Inc | 96208T104 | 7,232.00 | $1,321,286.40 |
| 1.13% | Arch Resources Inc | 03940R107 | 7,265.00 | $1,194,656.60 |
| 1.13% | Jazz Pharmaceuticals PLC | G50871105 | 9,679.00 | $1,191,872.06 |
| 1.10% | Etsy Inc | 29786A106 | 20,339.00 | $1,163,594.19 |
| 1.09% | Alpha Metallurgical Resources Inc | 020764106 | 4,901.00 | $1,150,264.70 |
| 1.08% | CONSOL Energy Inc | 20854L108 | 9,139.00 | $1,140,090.25 |
| 0.99% | Gulfport Energy Corp | 402635502 | 5,810.00 | $1,046,613.40 |
| 0.99% | Qorvo Inc | 74736K101 | 15,272.00 | $1,049,033.68 |
| 0.94% | Atkore Inc | 047649108 | 11,003.00 | $988,729.58 |
| 0.93% | Molson Coors Beverage Co | 60871R209 | 16,160.00 | $985,113.60 |
| 0.91% | Allison Transmission Holdings Inc | 01973R101 | 8,238.00 | $964,587.42 |
| 0.91% | Grand Canyon Education Inc | 38526M106 | 5,633.00 | $956,483.40 |
| 0.88% | PVH Corp | 693656100 | 8,513.00 | $926,725.18 |
| 0.87% | Matson Inc | 57686G105 | 6,050.00 | $921,959.50 |
| 0.87% | Maximus Inc | 577933104 | 12,462.00 | $920,194.08 |
| 0.82% | Amdocs Ltd | G02602103 | 9,961.00 | $867,105.05 |
| 0.82% | Ovintiv Inc | 69047Q102 | 20,303.00 | $866,329.01 |
| 0.82% | Thor Industries Inc | 885160101 | 8,339.00 | $867,756.34 |
| 0.81% | H&R Block Inc | 093671105 | 14,948.00 | $857,267.80 |
| 0.81% | Oshkosh Corp | 688239201 | 7,672.00 | $858,343.36 |
| 0.80% | Boise Cascade Co | 09739D100 | 5,806.00 | $838,618.64 |
| 0.80% | Match Group Inc | 57667L107 | 25,893.00 | $843,852.87 |
| 0.80% | Signet Jewelers Ltd | G81276100 | 9,687.00 | $842,187.78 |
| 0.80% | Weatherford International PLC | G48833118 | 10,187.00 | $842,668.64 |
| 0.79% | KB Home | 48666K109 | 10,674.00 | $836,521.38 |
| 0.78% | A O Smith Corp | 831865209 | 11,402.00 | $824,592.64 |
| 0.74% | SEI Investments Co | 784117103 | 9,352.00 | $783,884.64 |
| 0.73% | Interpublic Group of Cos Inc/The | 460690100 | 26,016.00 | $766,951.68 |
| 0.72% | Matador Resources Co | 576485205 | 13,092.00 | $760,645.20 |
| 0.71% | Axcelis Technologies Inc | 054540208 | 10,170.00 | $747,596.70 |
| 0.71% | Antero Resources Corp | 03674X106 | 23,451.00 | $744,803.76 |
| 0.70% | Cal-Maine Foods Inc | 128030202 | 7,567.00 | $736,269.10 |
| 0.69% | Taylor Morrison Home Corp | 87724P106 | 10,460.00 | $724,982.60 |
| 0.68% | APA Corp | 03743Q108 | 32,757.00 | $715,412.88 |
| 0.68% | ASGN Inc | 00191U102 | 8,033.00 | $714,374.69 |
| 0.68% | Columbia Sportswear Co | 198516106 | 8,140.00 | $715,343.20 |
| 0.67% | Academy Sports & Outdoors Inc | 00402L107 | 14,398.00 | $709,821.40 |
| 0.67% | Carter's Inc | 146229109 | 12,727.00 | $710,930.22 |
| 0.67% | GMS Inc | 36251C103 | 7,190.00 | $702,894.40 |
| 0.67% | LCI Industries | 50189K103 | 6,013.00 | $705,625.55 |
| 0.67% | LKQ Corp | 501889208 | 17,702.00 | $703,123.44 |
| 0.66% | Brink's Co/The | 109696104 | 7,437.00 | $695,805.72 |
| 0.66% | Genpact Ltd | G3922B107 | 15,339.00 | $694,243.14 |
| 0.66% | Victoria's Secret & Co | 926400102 | 16,068.00 | $691,245.36 |
| 0.63% | HF Sinclair Corp | 403949100 | 16,777.00 | $663,362.58 |
| 0.62% | Civitas Resources Inc | 17888H103 | 13,646.00 | $658,828.88 |
| 0.62% | Euronet Worldwide Inc | 298736109 | 6,331.00 | $656,841.25 |
| 0.61% | Mosaic Co/The | 61945C103 | 25,321.00 | $648,470.81 |
| 0.61% | Prestige Consumer Healthcare Inc | 74112D101 | 7,478.00 | $640,715.04 |
| 0.61% | Range Resources Corp | 75281A109 | 18,651.00 | $643,459.50 |
| 0.60% | BorgWarner Inc | 099724106 | 18,722.00 | $636,360.78 |
| 0.60% | Dropbox Inc | 26210C104 | 22,055.00 | $633,640.15 |
| 0.60% | Winnebago Industries Inc | 974637100 | 11,100.00 | $635,031.00 |
| 0.59% | Sylvamo Corp | 871332102 | 6,997.00 | $623,642.61 |
| 0.59% | Victory Capital Holdings Inc | 92645B103 | 9,263.00 | $623,214.64 |
| 0.58% | California Resources Corp | 13057Q305 | 11,039.00 | $610,677.48 |
| 0.58% | ManpowerGroup Inc | 56418H100 | 9,906.00 | $616,351.32 |
| 0.58% | Mattel Inc | 577081102 | 30,961.00 | $611,789.36 |
| 0.58% | Oxford Industries Inc | 691497309 | 7,613.00 | $608,963.87 |
| 0.58% | Virtus Investment Partners Inc | 92828Q109 | 2,487.00 | $615,806.07 |
| 0.57% | Peabody Energy Corp | 704551100 | 26,138.00 | $602,742.28 |
| 0.57% | Helmerich & Payne Inc | 423452101 | 17,276.00 | $601,032.04 |
| 0.57% | SM Energy Co | 78454L100 | 14,466.00 | $604,823.46 |
| 0.56% | Hub Group Inc | 443320106 | 11,675.00 | $589,178.88 |
| 0.55% | Murphy Oil Corp | 626717102 | 18,428.00 | $582,693.36 |
| 0.55% | Steven Madden Ltd | 556269108 | 12,945.00 | $575,664.15 |
| 0.55% | Terex Corp | 880779103 | 10,971.00 | $583,108.65 |
| 0.54% | American Woodmark Corp | 030506109 | 6,398.00 | $564,303.60 |
| 0.54% | ChampionX Corp | 15872M104 | 19,202.00 | $570,875.46 |
| 0.54% | Ziff Davis Inc | 48123V102 | 9,831.00 | $567,445.32 |
| 0.53% | Federated Hermes Inc | 314211103 | 12,873.00 | $557,529.63 |
| 0.53% | Kulicke & Soffa Industries Inc | 501242101 | 11,667.00 | $561,649.38 |
| 0.53% | Teradata Corp | 88076W103 | 17,374.00 | $561,701.42 |
| 0.52% | Artisan Partners Asset Management Inc | 04316A108 | 11,285.00 | $545,404.05 |
| 0.52% | Apogee Enterprises Inc | 037598109 | 6,564.00 | $544,746.36 |
| 0.52% | BlueLinx Holdings Inc | 09624H208 | 4,303.00 | $544,931.92 |
| 0.52% | GigaCloud Technology Inc | G38644103 | 22,801.00 | $553,152.26 |
| 0.52% | Korn Ferry | 500643200 | 7,632.00 | $550,114.56 |
| 0.52% | Magnolia Oil & Gas Corp | 559663109 | 20,481.00 | $545,818.65 |
| 0.52% | Option Care Health Inc | 68404L201 | 24,367.00 | $553,618.24 |
| 0.52% | TRI POINTE GROUP INC | 87265H109 | 13,112.00 | $544,410.24 |
| 0.51% | Buckle Inc/The | 118440106 | 10,316.00 | $542,105.80 |
| 0.51% | Diodes Inc | 254543101 | 9,162.00 | $540,191.52 |
| 0.51% | Monarch Casino & Resort Inc | 609027107 | 6,212.00 | $535,350.16 |
| 0.51% | ODP Corp/The | 88337F105 | 20,871.00 | $542,854.71 |
| 0.51% | Pacira BioSciences Inc | 695127100 | 29,059.00 | $542,531.53 |
| 0.51% | PROG Holdings Inc | 74319R101 | 11,379.00 | $539,137.02 |
| 0.51% | Gibraltar Industries Inc | 374689107 | 7,594.00 | $536,592.04 |
| 0.50% | DXC Technology Co | 23355L106 | 24,071.00 | $529,802.71 |
| 0.50% | Revelyst Inc | 690045109 | 27,598.00 | $524,637.98 |
| 0.50% | Harmony Biosciences Holdings Inc | 413197104 | 15,640.00 | $523,783.60 |
| 0.50% | International Seaways Inc | Y41053102 | 14,120.00 | $530,206.00 |
| 0.50% | Kennametal Inc | 489170100 | 18,993.00 | $529,524.84 |
| 0.50% | Supernus Pharmaceuticals Inc | 868459108 | 14,339.00 | $530,399.61 |
| 0.49% | Adeia Inc | 00676P107 | 39,563.00 | $517,088.41 |
| 0.49% | Adient PLC | G0084W101 | 26,261.00 | $511,826.89 |
| 0.49% | Golden Entertainment Inc | 381013101 | 15,397.00 | $515,491.56 |
| 0.49% | Quanex Building Products Corp | 747619104 | 17,587.00 | $512,836.92 |
| 0.49% | Teekay Tankers Ltd | G8726X106 | 12,890.00 | $513,150.90 |
| 0.49% | World Kinect Corp | 981475106 | 17,796.00 | $511,635.00 |
| 0.48% | Andersons Inc/The | 034164103 | 10,984.00 | $506,801.76 |
| 0.48% | Alliance Resource Partners LP | 01877R108 | 18,421.00 | $502,340.67 |
| 0.48% | PC Connection Inc | 69318J100 | 6,934.00 | $507,984.84 |
| 0.48% | Collegium Pharmaceutical Inc | 19459J104 | 16,847.00 | $503,219.89 |
| 0.48% | CTS Corp | 126501105 | 9,287.00 | $504,469.84 |
| 0.48% | Genco Shipping & Trading Ltd | Y2685T131 | 31,904.00 | $502,168.96 |
| 0.48% | International Money Express Inc | 46005L101 | 23,710.00 | $502,889.10 |
| 0.48% | Innoviva Inc | 45781M101 | 26,687.00 | $504,918.04 |
| 0.48% | Kforce Inc | 493732101 | 8,377.00 | $505,635.72 |
| 0.48% | Malibu Boats Inc | 56117J100 | 11,715.00 | $510,422.55 |
| 0.48% | NetScout Systems Inc | 64115T104 | 22,328.00 | $502,156.72 |
| 0.48% | Perdoceo Education Corp | 71363P106 | 18,557.00 | $505,492.68 |
| 0.48% | REV Group Inc | 749527107 | 16,348.00 | $503,354.92 |
| 0.48% | Scholastic Corp | 807066105 | 19,028.00 | $503,290.60 |
| 0.48% | ScanSource Inc | 806037107 | 9,842.00 | $506,174.06 |
| 0.48% | TripAdvisor Inc | 896945201 | 36,106.00 | $508,011.42 |
| 0.48% | Upbound Group Inc | 76009N100 | 15,102.00 | $511,051.68 |
| 0.48% | Worthington Enterprises Inc | 981811102 | 12,322.00 | $503,846.58 |
| 0.47% | Ardmore Shipping Corp | Y0207T100 | 43,784.00 | $499,137.60 |
| 0.47% | Cars.com Inc | 14575E105 | 25,525.00 | $493,398.25 |
| 0.47% | Ethan Allen Interiors Inc | 297602104 | 16,229.00 | $492,874.73 |
| 0.47% | Everi Holdings Inc | 30034T103 | 36,600.00 | $493,368.00 |
| 0.47% | G-III Apparel Group Ltd | 36237H101 | 16,018.00 | $497,198.72 |
| 0.47% | Heidrick & Struggles International Inc | 422819102 | 10,941.00 | $490,594.44 |
| 0.47% | Kimbell Royalty Partners LP | 49435R102 | 30,815.00 | $491,499.25 |
| 0.47% | Dorian LPG Ltd | Y2106R110 | 21,303.00 | $498,490.20 |
| 0.47% | Pediatrix Medical Group Inc | 58502B106 | 33,799.00 | $496,845.30 |
| 0.47% | NCR Voyix Corp | 62886E108 | 35,381.00 | $496,749.24 |
| 0.47% | Wabash National Corp | 929566107 | 25,752.00 | $496,756.08 |
| 0.46% | Cohu Inc | 192576106 | 18,450.00 | $483,943.50 |
| 0.46% | eXp World Holdings Inc | 30212W100 | 36,287.00 | $484,794.32 |
| 0.46% | Helix Energy Solutions Group Inc | 42330P107 | 46,521.00 | $488,005.29 |
| 0.46% | Masterbrand Inc | 57638P104 | 29,242.00 | $487,756.56 |
| 0.46% | Photronics Inc | 719405102 | 20,202.00 | $490,100.52 |
| 0.46% | Sally Beauty Holdings Inc | 79546E104 | 37,665.00 | $486,255.15 |
| 0.46% | Shoe Carnival Inc | 824889109 | 14,704.00 | $480,673.76 |
| 0.46% | Shutterstock Inc | 825690100 | 15,636.00 | $490,344.96 |
| 0.46% | SunCoke Energy Inc | 86722A103 | 39,296.00 | $489,628.16 |
| 0.45% | Black Stone Minerals LP | 09225M101 | 31,738.00 | $478,609.04 |
| 0.40% | CALERES INC COM | 129500104 | 15,918.00 | $422,941.26 |
| 0.19% | First American Government Obligations Fund 12/01/2031 | 31846V336 | 199,234.05 | $199,234.05 |
| 0.08% | Cash & Other | Cash&Other | 88,915.83 | $88,915.83 |
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.
