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Exchange Traded Fund Equity

Virtus Reaves Utilities ETF

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Ticker
UTES
CUSIP
26923G806
Inception
09/23/2015
Closing Price
$
(as of 12/03/2020)
30-Day Median Bid/Ask Spread
0.19% (as of 12/03/2020)
Premium/Discount
$0.02 (as of 12/03/2020)
4PM Bid/Offer Midpoint
$40.06 (as of 12/03/2020)
Shares Outstanding
750,004 (as of 12/03/2020)
Daily Trading Volume
1,100.00 (as of 12/03/2020)
20 Day Average Trading Volume
3,350.00 (as of 12/03/2020)
Net Assets
$30,031,812 (as of 12/03/2020)

Portfolio Overview

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.

Featured Resource

Income Insights
Get market insight on non-traditional income producing asset classes in an interactive way.

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Management Team

Investment Partner

Reaves Asset Management

Reaves Asset Management was founded in 1961 and is an employee-owned, research-based investment management company, with over 40 years of experience managing money.


Learn more about Reaves Asset Management

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 Holdings (% Fund)

(as of 12/04/2020)
Security
NEXTERA ENERGY INC
22.59
 22.59
PUBLIC SERVICE ENTERPRISE GP
5.57
 5.57
SEMPRA ENERGY
5.46
 5.46
AMERICAN WATER WORKS CO INC
5.24
 5.24
EVERSOURCE ENERGY
4.82
 4.82
CMS ENERGY CORP
4.81
 4.81
XCEL ENERGY INC
4.65
 4.65
DTE ENERGY COMPANY
4.57
 4.57
ALLIANT ENERGY CORP
4.51
 4.51
EDISON INTERNATIONAL
4.43
 4.43

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 0.49
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.

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.

Yields/Distribution Rate

(as of 11/30/2020)
30-day SEC Yield 2.18
Distribution Rate (as of 12/03/2020) 2.20

Distribution History2

Ex-Date Record Date Payable Date Dividend Income ST Capital Gains LT Capital Gains Distribution Total
12/20/2019 12/23/2019 12/30/2019 0.230000 0.000000 0.000000 0.230000
03/20/2020 03/23/2020 03/30/2020 0.160000 0.000000 0.000000 0.160000
06/22/2020 06/23/2020 06/30/2020 0.210000 0.000000 0.000000 0.210000
09/21/2020 09/22/2020 09/29/2020 0.220000 0.000000 0.000000 0.220000


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 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
2019-Q3: 7/1/2019 through 9/30/2019 0 0 0 0 23 41 0 0 0 0
2019-Q4: 10/1/2019 through 12/31/2019 0 0 0 0 10 54 0 0 0 0
2020-Q1: 1/2/2020 through 3/31/2020 0 1 0 1 29 29 1 1 0 0
2020-Q2: 4/1/2020 through 6/30/2020 0 0 1 1 35 26 0 0 0 0
2020-Q3: 7/1/2020 through 9/30/2020 0 1 0 2 49 12 0 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.
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.
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.
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 Reaves Utilities ETF Fact Sheet (UTES)
Virtus Reaves Utilities ETF Commentary (UTES)
Virtus ETF Ticker Menu
Precision Exposure Across Non-Traditional Sources of Income
The Case for Actively Managed Utilities

Holdings

Positions UTES

Financial Materials

Reaves Utilities ETF (UTES) Prospectus - November 2020
Reaves Utilities ETF (UTES) SAI - November 2020
Reaves Utilities ETF Annual Report | 2019
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.