The RPAR Risk Parity ETF

Access risk-parity for the first time in the U.S. in a tax-efficient, liquid ETF structure.

  • The fund will diversify its allocations amongst four asset classes – equities, commodities, Treasury bonds (Treasuries), and Treasury inflation-protected securities (TIPS).
  • Holdings are structured in the efforts of each asset class presenting a similar risk and return profile.
  • Seeks to generate positive returns during periods of economic growth, preserve capital during periods of economic contraction, and preserve real rates of return during periods of heightened inflation.

The Index

The RPAR Risk Parity ETF is managed to track the Advanced Research Risk Parity Index, which is a proprietary index created by ARIS and EQM Indexes. The index is designed to target similar risk contributions from four diversifying asset classes – equities, commodities, Treasury bonds (Treasuries), and Treasury inflation-protected securities (TIPS). Returns for the index are available from Bloomberg [RPARTR]. It is not possible to invest directly in an index.

FUND INFORMATION
Fund Inception 12/12/2019
Ticker RPAR
Primary Exchange NYSE
CUSIP 886364603
IOPV Symbol RPAR.IV
NAV Symbol RPAR.NV
Gross Expense Ratio * 0.54%
Net Expense Ratio * 0.51%
30 Day SEC Yield ** 1.63%

* The Net Expense Ratio includes management fees and Acquired Fund Fees and Expenses. If Acquired Fund Fees and Expenses were excluded, the Net Expense Ratio would be 0.47%. The Fund's investment adviser has contractually agreed to waive 3 basis points (0.03%) of its management fees for the Fund until at least March 31, 2022. 

** As of 5/31/21

 

FUND DATA & PRICING
Net Assets $1.3B
NAV $24.23
Shares Outstanding 53,625,000
Premium/discount Percentage 0.25%
Closing Price $24.29
Median 30 Day Spread 0.08%

Data as of 06/22/2021

IOPV, or Indicative Optimized Portfolio Value, is a calculation disseminated by the stock exchange that approximates the Fund’s NAV every fifteen seconds throughout the trading day.

30 Day Median 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.
 

PERFORMANCE
As of May 31, 2021 As of March 31, 2021
  MTD QTD YTD QTD YTD 1 YEAR 3 YEAR SINCE INCEPTION
Market Price 2.97% 5.92% 1.27% -4.39% -4.39% 19.02% - 11.33%
Fund NAV 2.90% 6.23% 1.28% -4.66% -4.66% 19.86% - 10.99%
Benchmark Index 3.01% 6.26% 2.47% -3.57% -3.57% 22.88% - 14.27%

The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted. Performance current to the most recent month-end can be obtained by calling (833) 540-0039.

Short term performance, in particular, is not a good indication of the fund’s future performance, and an investment should not be made based solely on returns. Only returns greater than 1 year will be annualized.

A fund's NAV is the sum of all its assets less any liabilities, divided by the number of shares outstanding. The market price is the most recent price at which the fund was traded.

RETURNS
As of May 31, 2021 2021 YTD 2020
Market Price 1.27% 19.39%
Fund NAV 1.28% 19.35%
Benchmark Index 2.47% 21.94%

The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted. Performance current to the most recent month-end can be obtained by calling (833) 540-0039.

Short term performance, in particular, is not a good indication of the fund’s future performance, and an investment should not be made based solely on returns. Only returns greater than 1 year will be annualized.

A fund's NAV is the sum of all its assets less any liabilities, divided by the number of shares outstanding. The market price is the most recent price at which the fund was traded.

DISTRIBUTION DETAIL
EX-Date Record Date Payable Date Amount
December 26, 2019 December 27, 2019 December 31, 2019 0.04717
March 25, 2020 March 26, 2020 March 30, 2020 0.03871
June 24, 2020 June 25, 2020 June 29, 2020 0.01881
September 23, 2020 September 24, 2020 September 28, 2020 0.04800
December 16, 2020 December 17, 2020 December 21, 2020 0.07559
March 24, 2021 March 25, 2021 March 29, 2021 0.03620
June 23, 2021 June 24, 2021 June 28, 2021 0.07200
TOP 10 HOLDINGS
Percentage Of Net Assets Name Ticker CUSIP Shares Held Market Value
17.95 US ULTRA BOND CBT Sep21 WNU1 COMDTY WNU1 COMDTY 1,216 $232,522,000
17.47 US 10YR NOTE (CBT)Sep21 TYU1 COMDTY TYU1 COMDTY 1,710 $226,334,531.25
12.67 VANGUARD INDEX FDS TOTAL STK MKT VTI 922908769 742,499 $164,084,854.01
11.81 UNITED STATES TREAS BILLS 912796J59 912796J59 153,011,000 $152,978,676.43
9.29 WORLD GOLD TR SPDR GLD MINIS GLDM 98149E204 6,807,390 $120,286,581.30
7.44 VANGUARD INTL EQUITY INDEX FDS FTSE EMR MKT ETF VWO 922042858 1,804,572 $96,382,190.52
4.95 VANGUARD FTSE DEVELOPED ETF VEA 921943858 1,234,695 $64,080,670.50
4.17 UNITED STATES TREAS BDS TIPS 02/15/40 1.375% 02/15 912810RF7 912810RF7 39,519,440 $54,039,560.01
4.11 UNITED STATES TREAS BDS TIPS 2.125% 41 2.125% 02/1 912810QP6 912810QP6 35,685,680 $53,232,554.03
3.77 UNITED STATES TREAS BDS TIPS .75% 02/15/42 0.75% 0 912810QV3 912810QV3 40,553,424 $48,894,973.36

Data as of 06/23/2021.Holdings are subject to change.