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Exchange Traded Fund Fixed Income

Virtus Newfleet Multi-Sector Bond ETF

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Ticker
NFLT
CUSIP
26923G707
Inception
08/10/2015
Closing Price
$
(as of 10/23/2020)
30-Day Median Bid/Ask Spread
0.36% (as of 10/23/2020)
Premium/Discount
$0.01 (as of 10/23/2020)
4PM Bid/Offer Midpoint
$24.83 (as of 10/23/2020)
Shares Outstanding
750,004 (as of 10/23/2020)
Daily Trading Volume
1,300.00 (as of 10/23/2020)
20 Day Average Trading Volume
4,760.00 (as of 10/23/2020)
Net Assets
$18,614,671 (as of 10/23/2020)

Portfolio Overview

Investment Overview

The Fund seeks to provide a high level of current income and capital appreciation. It strives to achieve long-term excess returns through the combination of actively managed sector rotation, individual security selection, and disciplined risk management.

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Management Team

Investment Partner

Newfleet Asset Management, LLC

Newfleet Asset Management leverages the knowledge and skill of a team of investment professionals with expertise in every sector of the bond market, including evolving, specialized, and out-of-favor sectors. The team employs active sector rotation and disciplined risk management to portfolio construction.


Learn more about Newfleet Asset Management, LLC

Investment Professionals

David L. Albrycht, CFA

President and Chief Investment Officer

Industry start date: 1985
Start date as fund Portfolio Manager: 2015

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Benjamin Caron, CFA

Senior Managing Director and Portfolio Manager

Industry start date: 1997
Start date as fund Portfolio Manager: 2019

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Key Features

High-Conviction Portfolio

Opportunistic, diversified bond portfolio pursues the greatest risk/reward potential across bond markets

Flexible Fixed Income Exposure

Unconstrained across sectors with no target duration

Active Sector Rotation

Top-down analysis weighs relative attractiveness of bond sectors, evaluating fundamentals, yields, spreads, and supply/demand dynamics

Positions & Distributions

Top Holdings (% Fund)

(as of 10/26/2020)
Security
US TREASURY N/B 0.125 05/31/2022
3.25
 3.25
US TREASURY N/B 0.250 05/31/2025
2.73
 2.73
PERTAMINA PERSERO PT 6.450 05/30/2044
1.83
 1.83
ISHARES IBOXX HIGH YLD CORP
1.52
 1.52
US TREASURY N/B 1.125 08/31/2021
1.27
 1.27
RUSSIAN FEDERATION 4.375 03/21/2029
1.24
 1.24
TENCENT HOLDINGS LTD 3.975 04/11/2029
1.22
 1.22
SAUDI INTERNATIONAL BOND 3.625 03/04/2028
1.20
 1.20
STATE OF ISRAEL 2.750 07/03/2030
1.19
 1.19
UNITED MEXICAN STATES 4.500 01/31/2050
1.15
 1.15

Does not include cash/cash equivalents.

Performance & Risk

Performance

As of
As of
1 Month 3 Month YTD 1 Year 3 Years 5 Years 10 Years Since Inception

Performance data quoted represents past results. Past performance is no guarantee of future results and current performance may be higher or lower than the performance shown. Investment return and principal value will fluctuate, so your shares, when redeemed, may be worth more or less than their original cost.

Fees & Expenses

Total Expense Ratio (Gross) 0.82
Total Expense Ratio (Net) 0.50
The Total Expense Ratio represents the Fund's Total Annual Fund Operating Expenses, which includes the management fee and other expenses where applicable, except for certain payments that are paid directly by the Fund, as described in the Prospectus. The Fund's investment adviser has entered into an expense limitation agreement to limit the Fund's total operating expenses (excluding certain expenses as described in the prospectus) so that such expenses do not exceed 0.49% of the Fund’s average daily net assets through February 28, 2021.

Sales Charge and Expenses

The Total Expense Ratio represents the Fund's Total Annual Fund Operating Expenses, which includes the management fee and other expenses where applicable, except for certain payments that are paid directly by the Fund, as described in the Prospectus. The Fund's investment adviser has entered into an expense limitation agreement to limit the Fund's total operating expenses (excluding certain expenses as described in the prospectus) so that such expenses do not exceed 0.49% of the Fund’s average daily net assets through February 28, 2021.

Yields/Distribution Rate

(as of 09/30/2020)
30-day SEC Yield 3.58
30-day SEC Yield (unsubsidized) 2.78
Distribution Rate (as of 10/23/2020) 3.39

Distribution History2

Ex-Date Record Date Payable Date Dividend Income ST Capital Gains LT Capital Gains Distribution Total
11/20/2019 11/21/2019 11/29/2019 0.051790 0.000000 0.000000 0.051790
12/20/2019 12/23/2019 12/30/2019 0.116060 0.000000 0.000000 0.116060
01/21/2020 01/22/2020 01/29/2020 0.055860 0.000000 0.000000 0.055860
02/20/2020 02/21/2020 02/28/2020 0.085700 0.000000 0.000000 0.085700
03/20/2020 03/23/2020 03/30/2020 0.082260 0.000000 0.000000 0.082260
04/20/2020 04/21/2020 04/28/2020 0.075750 0.000000 0.000000 0.075750
05/20/2020 05/21/2020 05/29/2020 0.075100 0.000000 0.000000 0.075100
06/22/2020 06/23/2020 06/30/2020 0.081940 0.000000 0.000000 0.081940
07/20/2020 07/21/2020 07/28/2020 0.074520 0.000000 0.000000 0.074520
08/20/2020 08/21/2020 08/28/2020 0.081300 0.000000 0.000000 0.081300
09/21/2020 09/22/2020 09/29/2020 0.092610 0.000000 0.000000 0.092610
10/20/2020 10/21/2020 10/28/2020 0.070120 0.000000 0.000000 0.070120

Please view the Fund’s Section 19-a notices, which set forth information regarding the composition of the distributions, including any portion that may constitute a return of capital.


Number of Days Fund has Traded at a:
Discount Premium
Period Less than -2% -1.51% to -2.00% -1.01% to -1.50% -0.51% to -1.00% -0.01% to -0.50% 0.00% to 0.50% 0.51% to 1.00% 1.01% to 1.50% 1.51% to 2.00% Greater than 2%
2018-Q4: 10/1/2018 through 12/31/2018 0 0 0 2 48 13 0 0 0 0
2019-Q1: 1/2/2019 through 3/29/2019 0 0 0 2 57 2 0 0 0 0
2019-Q2: 4/1/2019 through 6/28/2019 0 0 0 0 61 2 0 0 0 0
2019-Q3: 7/1/2019 through 9/30/2019 0 0 0 0 60 4 0 0 0 0
2019-Q4: 10/1/2019 through 12/31/2019 0 0 0 0 46 18 0 0 0 0
2020-Q1: 1/2/2020 through 3/31/2020 0 0 2 1 36 20 3 0 0 0
2020-Q2: 4/1/2020 through 6/30/2020 2 0 1 5 24 29 2 0 0 0
2020-Q3: 7/1/2020 through 9/30/2020 0 0 0 1 43 19 1 0 0 0

Risk Considerations

Exchange-Traded Funds (ETF): The value of an ETF may be more volatile than the underlying portfolio of securities it is designed to track. The costs to the fund of owning shares of an ETF may exceed the cost of investing directly in the underlying securities.
Credit & Interest: Debt instruments are subject to various risks, including credit and interest rate risk. The issuer of a debt security may fail to make interest and/or principal payments. Values of debt instruments may rise or fall in response to changes in interest rates, and this risk may be enhanced with longer-term maturities.
High Yield Fixed Income Securities: There is a greater risk of issuer default, less liquidity, and increased price volatility related to high yield securities than investment grade securities.
Bank Loans: Loans may be unsecured or not fully collateralized, may be subject to restrictions on resale and/or trade infrequently on the secondary market. Loans are subject to credit and call risk, may be difficult to value, and have longer settlement times than other investments, which can make loans relatively illiquid at times.
ABS/MBS: Changes in interest rates can cause both extension and prepayment risks for asset- and mortgage-backed securities. These securities are also subject to risks associated with the non-repayment of underlying collateral, including losses to the fund.
Foreign & Emerging Markets: Investing in foreign securities, especially in emerging markets, subjects the fund to additional risks such as increased volatility, currency fluctuations, less liquidity, and political, regulatory, economic, and market risk.
Market Price/NAV: At the time of purchase and/or sale, an investor's shares may have a market price that is above or below the fund's NAV, which may increase the investor's risk of loss.
Market Volatility: Local, regional, or global events such as war, acts of terrorism, the spread of infectious illness or other public health issues, recessions, or other events could have a significant impact on the portfolio and its investments, including hampering the ability of the portfolio manager(s) to invest the portfolio's assets as intended.
Prospectus: For additional information on risks, please see the fund's prospectus.

Documents & Resources

Marketing Materials

Virtus Newfleet Multi-Sector Bond ETF Factsheet (NFLT)
Virtus Newfleet Multi-Sector Bond ETF Commentary (NFLT)
Newfleet Monthly Sector Review
Newfleet Market Review & Outlook
Precision Exposure Across Non-Traditional Sources of Income
Newfleet Fixed Income Fund Capabilities
Virtus ETF Ticker Menu
Newfleet Capabilities Brochure

Holdings

Positions NFLT

Financial Materials

Virtus Newfleet Multi-Sector Bond ETF (NFLT) Prospectus - February 28, 2020
ETFis Series Trust I XBRL 485(b)
ETFis Series Trust I XBRL 497
Virtus Newfleet Multi-Sector Bond ETF (NFLT) SAI - Feb. 2020
ETFis Series Trust I Annual Report - Oct 2019
ETFis Series Trust I Semi-Annual Report - April 2020
Virtus Newfleet Multi-Sector Bond ETF - Form 8937 - 2019

Section 19a Notices

Newfleet Multi-Sector Bond ETF - NFLT - 19a-1 (Sept 2020)
Newfleet Multi-Sector Bond ETF - NFLT - 19a-1 (August 2020)
Newfleet Multi-Sector Bond ETF - NFLT - 19a-1 (July 2020)

Please consider the investment objectives, risks, charges and expenses of the Fund carefully before investing. The prospectus contains this and other information about the Fund. Contact us at 1-888-383-0553 or visit www.virtus.com for a copy of the Fund's prospectus. Read the prospectus carefully before you invest or send money.

The Fund is an actively managed exchange-traded fund (“ETF”) and does not seek to replicate the performance of a specified index. The Fund may have a higher portfolio turnover than funds that seek to replicate the performance of an index.

Performance data quoted represents past results. Past performance is no guarantee of future results and current performance may be higher or lower than the performance shown. Investment return and principal value will fluctuate so your shares, when redeemed, may be worth more or less than their original cost.

Closing Price:
 The Closing Price is the price of the last reported trade on the fund's primary exchange. If there has been no reported trade for a particular date, the Closing Price represents the 4PM Bid/Offer Midpoint. 

4PM Bid/Offer Midpoint: The midpoint between the highest bid and the lowest offer on the listing exchange, as of the time that the Fund's NAV is calculated (usually 4:00pm Eastern Time).

Premium/Discount: The amount the Fund is trading above or below the reported NAV (based on 4PM Bid/Offer Midpoint).

The Fund is an exchange-traded fund (“ETF”). The “net asset value” (NAV) of the Fund is determined at the close of each business day, and represents the dollar value of one share of the Fund; it is calculated by taking the total assets of the Fund, subtracting total liabilities, and dividing by the total number of shares outstanding. The NAV of the Fund is not necessarily the same as its intraday trading value. Fund investors should not expect to buy or sell shares at NAV because shares of ETFs such as the Fund are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Thus, shares may trade at a premium or discount to their NAV in the secondary market. Brokerage commissions will reduce returns.

NAV returns are calculated using the Fund’s daily 4:00 p.m. NAV, and include the reinvestment of all dividends and other distributions (reinvested at the Fund's NAV on distribution ex-date). Market price returns are calculated using the 4:00 pm midpoint between the bid and offer, and include the reinvestment of all dividends and other distributions (reinvested at the 4:00pm bid/offer midpoint on distribution ex-date). Market price returns do not represent the return you would receive if you traded at other times.

30-day SEC Yield is a standardized yield calculated according to a formula set by the SEC, and is subject to change. 

30-day SEC Yield (unsubsidized) is the 30-day SEC Yield without the effect of applicable expense waivers.  

Distribution Rate is the annual rate that an investor would receive if the most recent distribution remained the same going forward. The rate represents a single distribution from the Fund and does not represent total return of the Fund. The distribution rate is calculated by annualizing the most recent distribution and dividing it by the most recent NAV.

Returns for periods of less than one year are cumulative total returns.

Not insured by FDIC/NCUSIF or any federal government agency. No bank guarantee. Not a deposit. May lose value.