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Virtus Reaves Utilities ETF
Ticker
UTES
CUSIP
26923G806
Inception
09/23/2015
NAV
$
Closing Price
$
30-Day Median Bid/Ask Spread
0.16%
(as of 09/06/2024)
Premium/Discount
$0.11
(as of 09/06/2024)
4PM Bid/Offer Midpoint
$55.69
(as of 09/06/2024)
Shares Outstanding
(as of 09/06/2024)
Daily Trading Volume
15,900.00
(as of 09/06/2024)
20 Day Average Trading Volume
33,985.00
(as of 09/06/2024)
Net Assets
$144,501,565
(as of 09/06/2024)
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.
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Utilities: Increased Demand from AI and Other Drivers
Virtus’ Jim Jessup, Income Strategist, interviews John P. Bartlett, CFA, President of Reaves Asset Management about the increasing demand for utilities and what that could mean for investors.
Virtus Reaves Utilities ETF (UTES)
Fundamentals are strong in the utilities sector and demand is increasing. The right active manager could help you make the most of this timely opportunity.
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 P. Bartlett, CFA
President, Portfolio Manager, Research Analyst
Industry start date: 1993
Start date as fund Portfolio Manager: 2015
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
Top Holdings (% Fund)
| Security | |
|---|---|
| NEXTERA ENERGY INC | |
| CONSTELLATION ENERGY | |
| VISTRA CORP | |
| TALEN ENERGY CORP | |
| P G & E CORP | |
| CENTERPOINT ENERGY INC | |
| EDISON INTERNATIONAL | |
| PUBLIC SERVICE ENTERPRISE GP | |
| ATMOS ENERGY CORP | |
| PINNACLE WEST CAPITAL |
Performance
As of
As of
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.
The Index shown represents the Fund's performance index, which may differ from the Fund's regulatory index included in the Fund's Prospectus.
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.
Yields / Distribution Rate1
(as of 08/30/2024)| 30-day SEC Yield | 1.75 |
| Distribution Rate (as of 09/06/2024) | 1.87 |
Distribution History2
| Ex-Date | Record Date | Payable Date | Dividend Income | ST Capital Gains | LT Capital Gains | Distribution Total |
|---|---|---|---|---|---|---|
| 09/20/2023 | 09/21/2023 | 09/28/2023 | 0.270000 | 0.000000 | 0.000000 | 0.270000 |
| 12/20/2023 | 12/21/2023 | 12/29/2023 | 0.330000 | 0.000000 | 0.000000 | 0.330000 |
| 03/20/2024 | 03/21/2024 | 03/26/2024 | 0.260000 | 0.000000 | 0.000000 | 0.260000 |
| 06/20/2024 | 06/20/2024 | 06/27/2024 | 0.260000 | 0.000000 | 0.000000 | 0.260000 |
Premium/Discount
| Period | Number of Days Fund has Traded at a: | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Discount | Premium | |||||||||
| 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% | |
| 2022-Q3: 7/1/2022 through 9/30/2022 | 0 | 0 | 0 | 0 | 54 | 10 | 0 | 0 | 0 | 0 |
| 2022-Q4: 10/3/2022 through 12/30/2022 | 0 | 0 | 0 | 0 | 54 | 9 | 0 | 0 | 0 | 0 |
| 2023-Q1: 1/3/2023 through 3/31/2023 | 0 | 0 | 0 | 0 | 46 | 16 | 0 | 0 | 0 | 0 |
| 2023-Q2: 4/3/2023 through 6/30/2023 | 0 | 0 | 0 | 0 | 61 | 1 | 0 | 0 | 0 | 0 |
| 2023-Q3: 7/3/2023 through 9/29/2023 | 0 | 0 | 0 | 0 | 38 | 25 | 0 | 0 | 0 | 0 |
| 2023-Q4: 10/2/2023 through 12/29/2023 | 0 | 0 | 0 | 1 | 27 | 35 | 0 | 0 | 0 | 0 |
| 2024-Q1: 1/2/2024 through 3/28/2024 | 0 | 0 | 0 | 0 | 41 | 20 | 0 | 0 | 0 | 0 |
| 2024-Q2: 4/1/2024 through 6/28/2024 | 0 | 0 | 0 | 0 | 14 | 49 | 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 portfolio 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, medium, or large-sized companies may enhance that risk.
Utilities Sector Concentration: The portfolio's investments are concentrated in the utilities sector and may present more risks than if the portfolio were broadly diversified.
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: The value of the securities in the portfolio may go up or down in response to the prospects of individual companies and/or general economic conditions. Local, regional, or global events such as war or military conflict, terrorism, pandemic, or recession could impact the portfolio, including hampering the ability of the portfolio's manager(s) to invest its assets as intended.
Prospectus: For additional information on risks, please see the fund's prospectus.
Marketing Materials
Positions
Financial Materials
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.
1 Yields/Distributions: 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.
2 Distribution History: Distributions are represented on a cash basis and may be reclassified at year end for tax purposes. The Fund will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes. STCG: Short Term Capital Gain, LTCG: Long Term Capital Gain
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.