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Exchange Traded FundEquity

Virtus Reaves Utilities ETF

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Ticker
UTES
CUSIP
26923G806
Closing Price
$
(as of 08/15/2019)
Inception
09/23/2015
Premium/Discount
$-0.06
(as of 08/15/2019)
4PM Bid/Offer Midpoint
$39.38
(as of 08/15/2019)
Shares Outstanding
600,004
(as of 08/15/2019)
Daily Trading Volume
1,500.00
(as of 08/15/2019)
20 Day Average Trading Volume
5,315.00
(as of 08/15/2019)
Net Assets
$23,661,829
(as of 08/15/2019)
Investment Overview

The Fund seeks to provide total return through a combination of capital appreciation and income, primarily through investments in equity securities of companies in the utility sector.

Management Team

Investment Partner

Reaves Asset Management

Reaves is an investment advisor that manages over $3B for both institutional and retail clients. Its portfolio managers are supported by a highly experienced management team, and its research team averages over 20 years of experience.


Investment Professionals
John Barlett
John P. Bartlett, CFA

President, Portfolio Manager, Research Analyst

Industry start date: 1993

Start date as fund Portfolio Manager: 2015

Jay Rhame
Joseph 'Jay' Rhame, III, CFA

Chief Executive Officer, Portfolio Manager, Research Analyst

Industry start date: 2005

Start date as fund Portfolio Manager: 2015

Key Features
Stronger Risk/Return Potential

Aims to deliver stronger risk-adjusted performance from energy exposure than pure passive plays

Sector Expertise

Offers experienced insights into utility and energy investments through a disciplined, long-term strategy focused on companies and industries the subadviser knows well

Actively Managed

Qualitative (management interviews, field research, macro factor analysis) and quantitative (modeling, valuation, technicals) analysis inform bottom-up security selection through a dynamic investment process emphasizing disciplined risk management

Positions & Distributions

Top Issuers (% Fund)
(as of 08/16/2019)
Security
NEXTERA ENERGY INC
16.98
 16.98
DTE ENERGY COMPANY
8.24
 8.24
SEMPRA ENERGY
6.21
 6.21
PUBLIC SERVICE ENTERPRISE GP
5.67
 5.67
CMS ENERGY CORP
4.97
 4.97
SOUTHWEST GAS HOLDINGS INC
4.90
 4.90
NISOURCE INC
4.75
 4.75
NEXTERA ENERGY PARTNERS LP
4.53
 4.53
EDISON INTERNATIONAL
4.02
 4.02
AMERICAN WATER WORKS CO INC
3.56
 3.56

Does not include cash/cash equivalents. 

Distribution History2
Ex-Date Record Date Payable Date Dividend Income ST Capital Gains LT Capital Gains Distribution Total
09/20/2018 09/21/2018 09/28/2018 0.185000 0.000000 0.000000 0.185000
12/20/2018 12/21/2018 12/28/2018 0.230000 0.000000 0.000000 0.230000
03/20/2019 03/21/2019 03/28/2019 0.140000 0.000000 0.000000 0.140000
06/20/2019 06/21/2019 06/28/2019 0.190000 0.000000 0.000000 0.190000

Performance & Risk

Performance
Quarterly
As of
Monthly
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.

Sales Charge and Expenses
The Expense Ratio represents the fund's management fee, which is structured as a unified fee, out of which the Fund's adviser pays all routine expenses, except for certain payments as described in the prospectus, which are paid by the Fund.
Fees & Expenses
Expense Ratio 0.49
The Expense Ratio represents the fund's management fee, which is structured as a unified fee, out of which the Fund's adviser pays all routine expenses, except for certain payments as described in the prospectus, which are paid by the Fund.
Yields/Distribution Rate
(as of 07/31/2019)
30-day SEC Yield 2.35
Distribution Rate (as of 08/15/2019) 1.93

Premium/Discount
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%
2017-Q3: 7/3/2017 through 9/29/2017 0 0 1 3 25 32 2 0 0 0
2017-Q4: 10/2/2017 through 12/29/2017 0 0 0 0 53 10 0 0 0 0
2018-Q1: 1/2/2018 through 3/29/2018 0 0 0 0 56 5 0 0 0 0
2018-Q2: 4/2/2018 through 6/29/2018 0 0 0 0 55 9 0 0 0 0
2018-Q3: 7/2/2018 through 9/28/2018 0 0 0 0 56 6 0 1 0 0
2018-Q4: 10/1/2018 through 12/31/2018 0 0 1 1 35 24 1 0 1 0
2019-Q1: 1/2/2019 through 3/29/2019 0 0 0 0 17 43 1 0 0 0
2019-Q2: 4/1/2019 through 6/28/2019 0 0 0 0 16 45 2 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 of owning the ETF may exceed the cost of investing directly in the underlying securities.
Equity Securities: The market price of equity securities may be adversely affected by financial market, industry, or issuer-specific events. Focus on a particular style or on small or medium-sized companies may enhance that risk.
Industry/Sector Concentration: A fund that focuses its investments in a particular industry or sector will be more sensitive to conditions that affect that industry or sector than a non-concentrated fund.
Utilities Sector Concentration: The fund's investments are concentrated in the utilities sector and may present more risks than if the fund were broadly diversified over numerous sectors of the economy.
Prospectus: For additional information on risks, please see the fund's prospectus.

Documents & Resources

Marketing Materials
Virtus Reaves Utilities ETF Fact Sheet (UTES)
Holdings
Positions UTES
Financial Materials
Reaves Utilities ETF (UTES) Prospectus Supplement - March 2019
Reaves Utilities ETF (UTES) Prospectus - November 2018
Reaves Utilities ETF (UTES) SAI Supplement - March 2019
Reaves Utilities ETF (UTES) SAI - November 2018
Reaves Utilities ETF Annual Report | Jul 2018
ETFis Series Trust I - Reaves Utilities ETF Semi-Annual Report
News Releases/Communications
Virtus Reaves Utilities ETF - Press Release: UTES Announces Actions (Apr. 15, 2019)

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.

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.

Distributed by ETF Distributors LLC

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