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Exchange Traded Fund Fixed Income Leveraged Finance

Virtus Newfleet High Yield Bond ETF

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Ticker
BLHY
CUSIP
92790A207
Inception
12/05/2016
Closing Price
$
(as of 05/06/2021)
30-Day Median Bid/Ask Spread
0.77% (as of 05/06/2021)
Premium/Discount
$-0.05 (as of 05/06/2021)
4PM Bid/Offer Midpoint
$24.61 (as of 05/06/2021)
Shares Outstanding
254,000 (as of 05/06/2021)
Daily Trading Volume
100.00 (as of 05/06/2021)
20 Day Average Trading Volume
410.00 (as of 05/06/2021)
Net Assets
$6,263,537 (as of 05/06/2021)

Portfolio Overview

Investment Overview

The Fund actively invests in high yield fixed income securities, seeking to generate both high current income and capital growth. Rigorous credit analysis and a relative value approach, coupled with opportunistic trading, strives to take advantage of mispricings, market dislocations, and other special situations.

Effective March 22, 2021, the Fund changed its name from Virtus Newfleet Dynamic Credit ETF to Virtus Newfleet High Yield Bond ETF. The Fund's investment objective and principal investment strategies have been revised. Please see the prospectus for more information.

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

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 Albrycht, CFA

David L. Albrycht, CFA

President and Chief Investment Officer

Industry start date: 1985
Start date as fund Portfolio Manager: 2016

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William Eastwood

William Eastwood, CFA

Senior Managing Director, Portfolio Manager, and Head of Trading

Industry start date: 1995
Start date as fund Portfolio Manager: 2019

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Eric Hess

Eric Hess, CFA

Managing Director, Portfolio Manager, and High Yield Sector Head

Industry start date: 2006
Start date as fund Portfolio Manager: 2019

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Francesco Ossino

Francesco Ossino

Senior Managing Director, Senior Portfolio Manager, and Bank Loan Sector Head

Industry start date: 1996
Start date as fund Portfolio Manager: 2016

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Key Features

Complement to Traditional Stocks and Bonds

High yield bonds have historically provided competitive risk-adjusted returns relative to stocks, while offering yield opportunities simply not achievable with traditional core bonds

Relative Value Focused

Newfleet's time-tested team of credit analysts employ their hallmark relative value approach, aiming to exploit inefficiencies by continuously evaluating the market, sectors, and securities while managing downside risk

Seeks High Income

High yield bonds have historically offered a compelling yield advantage relative to traditional core bonds, all the while providing more credit diversification and less interest rate sensitivity

Positions & Distributions

Top Holdings (% Fund)

(as of 05/07/2021)
Security
AMERICAN AIRLINES INC 11.750 07/15/2025
1.10
 1.10
TELESAT CANADA/TELESAT L 6.500 10/15/2027
1.09
 1.09
ALBERTSONS COS/SAFEWAY 4.625 01/15/2027
1.08
 1.08
UNITI GROUP/CSL CAPITAL 7.125 12/15/2024
1.07
 1.07
BAUSCH HEALTH COS INC 7.000 01/15/2028
1.02
 1.02
AKUMIN INC 7.000 11/01/2025
1.00
 1.00
TWITTER INC 3.875 12/15/2027
1.00
 1.00
UNIVISION COMMUNICATIONS 5.125 02/15/2025
0.98
 0.98
APPLIED SYSTEMS INC 6.250 09/19/2025
0.97
 0.97
LOUISIANA-PACIFIC CORP 3.625 03/15/2029
0.96
 0.96

Does not include cash/cash equivalents.

Performance & Risk

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.

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 November 28, 2021.

Fees & Expenses

Total Expense Ratio (Gross) 2.28
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 November 28, 2021.

Yields/Distribution Rate

(as of 04/30/2021)
30-day SEC Yield 3.86
30-day SEC Yield (unsubsidized) 2.04
Distribution Rate (as of 05/06/2021) 4.46

Distribution History2

Ex-Date Record Date Payable Date Dividend Income ST Capital Gains LT Capital Gains Distribution Total
05/20/2020 05/21/2020 05/29/2020 0.024460 0.000000 0.000000 0.024460
06/22/2020 06/23/2020 06/30/2020 0.058300 0.000000 0.000000 0.058300
07/20/2020 07/21/2020 07/28/2020 0.067400 0.000000 0.000000 0.067400
08/20/2020 08/21/2020 08/28/2020 0.068860 0.000000 0.000000 0.068860
09/21/2020 09/22/2020 09/29/2020 0.094780 0.000000 0.000000 0.094780
10/20/2020 10/21/2020 10/28/2020 0.081270 0.000000 0.000000 0.081270
11/20/2020 11/23/2020 11/30/2020 0.075580 0.000000 0.000000 0.075580
12/21/2020 12/22/2020 12/30/2020 0.173390 0.000000 0.000000 0.173390
01/20/2021 01/21/2021 01/28/2021 0.020000 0.000000 0.000000 0.020000
02/22/2021 02/23/2021 02/26/2021 0.068610 0.000000 0.000000 0.068610
03/22/2021 03/23/2021 03/30/2021 0.087080 0.000000 0.000000 0.087080
04/20/2021 04/21/2021 04/28/2021 0.091550 0.000000 0.000000 0.091550


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%
2019-Q2: 4/1/2019 through 6/28/2019 0 0 1 27 35 0 0 0 0 0
2019-Q3: 7/1/2019 through 9/30/2019 0 0 0 25 38 1 0 0 0 0
2019-Q4: 10/1/2019 through 12/31/2019 0 0 0 6 58 0 0 0 0 0
2020-Q1: 1/2/2020 through 3/31/2020 0 0 0 5 46 6 3 0 2 0
2020-Q2: 4/1/2020 through 6/30/2020 0 0 16 7 31 4 2 1 1 1
2020-Q3: 7/1/2020 through 9/30/2020 0 0 0 42 22 0 0 0 0 0
2020-Q4: 10/1/2020 through 12/31/2020 0 0 3 20 40 1 0 0 0 0
2021-Q1: 1/4/2021 through 3/31/2021 0 0 0 10 51 0 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.
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.
Foreign Investing: Investing in foreign securities subjects the portfolio to additional risks such as increased volatility, currency fluctuations, less liquidity, and political, regulatory, economic, and market risk.
Industry/Sector Concentration: A portfolio 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 portfolio.
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 High Yield ETF Fact Sheet
Newfleet Monthly Sector Review
Precision Exposure Across Non-Traditional Sources of Income
Virtus ETF Ticker Menu
Newfleet Fixed Income Fund Capabilities
Newfleet Capabilities Brochure
2021 Distribution Calendar - ETF
Newfleet 2021 Fixed Income Market Outlook

Holdings

Positions BLHY

Financial Materials

Virtus Newfleet Dynamic Credit ETF (BLHY) Prospectus - November 2020
Virtus Newfleet Dynamic Credit ETF (BLHY) SAI - November 2020
Virtus ETF Trust II Annual Report | 2020
Virtus ETF Trust II Semi-Annual Report | 2021

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.