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Exchange Traded Fund Fixed Income Investment Grade

Virtus Newfleet ABS/MBS ETF

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Closing Price
(as of 06/01/2023)
30-Day Median Bid/Ask Spread
0.26% (as of 06/01/2023)
$0.00 (as of 06/01/2023)
4PM Bid/Offer Midpoint
$23.36 (as of 06/01/2023)
Shares Outstanding
550,004 (as of 06/01/2023)
Daily Trading Volume
100.00 (as of 06/01/2023)
20 Day Average Trading Volume
315.00 (as of 06/01/2023)
Net Assets
$12,844,297 (as of 06/01/2023)

Portfolio Overview

Investment Overview

The Fund seeks to generate income by investing primarily in short-duration, investment-grade securitized debt across asset-backed securities (ABS) and mortgage-backed securities (MBS), including commercial and residential MBS. A disciplined, time-tested investment process and rigorous risk management approach seeks to target ABS and MBS with competitive yield and current income across undervalued areas of securitized credit markets.

Management Team

Investment Partner

Newfleet Asset Management

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.

Newfleet Asset Management is a division of Virtus Fixed Income Advisers, LLC ("VFIA"), an SEC registered investment adviser.

Learn more about Newfleet Asset Management

Investment Professionals

David Albrycht, CFA

David L. Albrycht, CFA

President and Chief Investment Officer

Industry start date: 1985
Start date as fund Portfolio Manager: 2021

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Andrew Szabo

Andrew Szabo, CFA

Portfolio Manager – Agency & Residential Mortgage-Backed Securities

Industry start date: 1986
Start date as fund Portfolio Manager: 2021

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Nicodemus Rinaldi

Nicodemus Rinaldi

Portfolio Manager – Asset-Backed Securities & Commercial Mortgage-Backed Securities

Industry start date: 1992
Start date as fund Portfolio Manager: 2021

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Photo Szyndlar Zachary 150x150

Zachary Szyndlar, CFA

Director, Portfolio Manager, and Credit Analyst, Securitized Products

Industry start date: 2013
Start date as fund Portfolio Manager: 2021

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Key Features

Complement to Traditional Fixed Income

ABS (auto loans, equipment leases, credit card receivables, student loans, etc.) and MBS (pools of mortgages, both residential and commercial, agency and non-agency) sectors provide a wider investment opportunity set and much needed diversification relative to traditional fixed income

Relative Value Focused

With an emphasis on the out-of-index, niche areas of the securitized credit markets, Newfleet's securitized credit specialists employ their hallmark relative value approach, exploiting inefficiencies by continuously evaluating the market, sectors, and securities

Lower Duration, Attractive Yield

Targeting a duration of between one- to three-years, significantly shorter than traditional core bond strategies, while focusing on investment-grade securitized credit, which has historically offered a yield advantage versus similarly rated traditional corporate bonds


Top Holdings (% Fund)

(as of 06/02/2023)
MFCC 2023-1A A 8.040 09/20/2027
TAST 2022-1A D 5.380 01/15/2026
AUTOC 2021-A C 3.790 04/15/2027
JPMMT 2015-5 A2 6.490 05/25/2045
BPR 2021-KEN A 6.424 02/15/2029
MLANE 2021-A A 1.590 09/15/2026
VEROS 2021-1 B 1.490 10/15/2026
CRVNA 2021-N3 D 1.580 06/12/2028
ALASKA AIRLINES 2020 TR 4.800 08/15/2027
BELL 2016-1A A23 4.970 05/25/2046



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.

Fees & Expenses

Total Expense Ratio (Gross) 0.49
Total Expense Ratio (Net) 0.39
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 Adviser has agreed to waive a portion of the management fee equal to 0.10% through at least November 28, 2023, which will have the effect of reducing the Fund's total expenses to 0.39%, excluding certain expenses as discussed above.

Yields / Distribution Rate1

(as of 04/28/2023)
30-day SEC Yield 3.92
30-day SEC Yield (unsubsidized) 3.83
Distribution Rate (as of 06/01/2023) 3.65

Distribution History2

Ex-Date Record Date Payable Date Dividend Income ST Capital Gains LT Capital Gains Distribution Total
06/21/2022 06/22/2022 06/29/2022 0.042410 0.000000 0.000000 0.042410
07/20/2022 07/21/2022 07/28/2022 0.040630 0.000000 0.000000 0.040630
08/22/2022 08/23/2022 08/30/2022 0.067370 0.000000 0.000000 0.067370
09/20/2022 09/21/2022 09/28/2022 0.043680 0.000000 0.000000 0.043680
10/20/2022 10/21/2022 10/28/2022 0.060690 0.000000 0.000000 0.060690
11/21/2022 11/22/2022 11/30/2022 0.057940 0.000000 0.000000 0.057940
12/20/2022 12/21/2022 12/29/2022 0.082970 0.000000 0.000000 0.082970
01/20/2023 01/23/2023 01/30/2023 0.030160 0.000000 0.000000 0.030160
02/21/2023 02/22/2023 02/27/2023 0.064790 0.000000 0.000000 0.064790
03/20/2023 03/21/2023 03/28/2023 0.060900 0.000000 0.000000 0.060900
04/20/2023 04/21/2023 04/28/2023 0.066860 0.000000 0.000000 0.066860
05/22/2023 05/23/2023 05/31/2023 0.071090 0.000000 0.000000 0.071090

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%
2021-Q2: 4/1/2021 through 6/30/2021 0 0 0 0 27 36 0 0 0 0
2021-Q3: 7/1/2021 through 9/30/2021 0 0 0 0 1 63 0 0 0 0
2021-Q4: 10/1/2021 through 12/31/2021 0 0 0 0 2 62 0 0 0 0
2022-Q1: 1/3/2022 through 3/31/2022 0 0 0 0 7 53 2 0 0 0
2022-Q2: 4/1/2022 through 6/30/2022 0 0 0 0 12 48 1 1 0 0
2022-Q3: 7/1/2022 through 9/30/2022 0 0 0 0 25 39 0 0 0 0
2022-Q4: 10/3/2022 through 12/30/2022 0 0 0 2 28 33 0 0 0 0
2023-Q1: 1/3/2023 through 3/31/2023 0 0 0 0 34 27 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 portfolio of owning shares of an ETF may exceed the cost of investing directly in the underlying securities.
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 portfolio.
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.
Variable Distribution Risk: Periodic distributions by investments of variable or floating interest rates vary with fluctuations in market interest rates.
Derivatives: Derivatives may include, among other things, futures, options, forwards and swap agreements and may be used in order to hedge portfolio risks, create leverage, or attempt to increase returns. Investments in derivatives may result in increased volatility and the portfolio may incur a loss greater than its principal investment.
Sector Focused Investing: Events negatively affecting a particular industry or market sector in which the portfolio focuses its investments may cause the value of the portfolio to decrease.
Market Volatility: The value of securities in the portfolio may go up or down in response to the prospects of individual companies and/or general economic conditions. Price changes may be short or long term.
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.
Prospectus: For additional information on risks, please see the fund's prospectus.

Documents & Resources

Marketing Materials

Virtus Newfleet ABS/MBS ETF Fact Sheet
Newfleet Monthly Sector Review
Virtus Newfleet ABS/MBS ETF Commentary
Investment Case: Virtus Newfleet ABS/MBS ETF
ETF Product Guide
Virtus ETF Ticker Menu
Newfleet Market Review & Outlook
Newfleet Market Review & Outlook
Newfleet 2023 Fixed Income Market Outlook


Positions VABS
Virtus Newfleet ABS/MBS ETF Holdings Fiscal Q1
Virtus Newfleet ABS/MBS ETF Holdings Fiscal Q3


2023 Distribution Calendar - ETF

Financial Materials

Virtus Newfleet ABS/MBS ETF - VABS - Prospectus
Virtus Newfleet ABS/MBS ETF - VABS - SAI
Virtus ETF Trust II Annual Report | 2022
Virtus ETF Trust II Semi-Annual Report | 2023

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.virtusetfs.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.

ETFs distributed by VP Distributors, LLC, member FINRA and subsidiary of Virtus Investment Partners, Inc.