Virtus Newfleet Short Duration Core Plus Bond ETF
Investment Overview
The Fund seeks current income consistent with preservation of capital, while limiting fluctuations in net asset value due to changes in interest rates by investing primarily in investment grade, short-duration debt securities from multiple bond sectors. A disciplined, time-tested investment process and rigorous risk management approach aim to capitalize on opportunities across undervalued areas of the fixed income markets.
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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 L. Albrycht, CFA
President and Chief Investment Officer
Industry start date: 1985
Start date as fund Portfolio Manager: 2023
Lisa M. Baribault
Director and Portfolio Manager
Industry start date: 2003
Start date as fund Portfolio Manager: 2023
Benjamin Caron, CFA
Senior Managing Director and Portfolio Manager
Industry start date: 1997
Start date as fund Portfolio Manager: 2023
Key Features
Multi-Sector Short-Term Bond Exposure
Highly diversified, multi-sector bond allocation, with an emphasis on investment grade, domestic sectors
Relative Value Focus
Utilizes Newfleet's hallmark relative value approach across sectors and industries, evaluating fundamentals, yields, spreads, and supply/demand dynamics
Shorter Duration, Attractive Yield Potential
Targets a duration of 1 - 3 years with flexibility to invest in below investment grade securities and developed markets debt in an effort to identify attractive yield opportunities
Top Holdings (% Fund)
| Security | |
|---|---|
| OBX 2023-NQM5 A1A 6.567 06/25/2063 | |
| US TREASURY N/B 2.500 04/30/2024 | |
| GSAR 2023-2A A3 6.380 02/15/2029 | |
| US TREASURY N/B 5.000 10/31/2025 | |
| AH4R 2015-SFR1 A 3.467 04/17/2052 | |
| FCRT 2023-1 A3 5.390 12/15/2027 | |
| HOMES 2023-NQM2 A1 6.456 02/25/2068 | |
| COLT 2023-3 A1 7.180 09/25/2068 | |
| MST 2019-1A A1A 3.750 04/25/2058 | |
| OPTN 2021-C A 2.180 10/08/2031 |
Performance
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 (Gross) | 0.40 |
| Total Expense Ratio (Net) | 0.35 |
Yields / Distribution Rate1
(as of 03/28/2024)| 30-day SEC Yield | 4.98 |
| 30-day SEC Yield (unsubsidized) | 4.93 |
| Distribution Rate (as of 04/25/2024) | 5.69 |
Distribution History2
| Ex-Date | Record Date | Payable Date | Dividend Income | ST Capital Gains | LT Capital Gains | Distribution Total |
|---|---|---|---|---|---|---|
| 12/20/2023 | 12/21/2023 | 12/29/2023 | 0.151650 | 0.000000 | 0.000000 | 0.151650 |
| 01/22/2024 | 01/23/2024 | 01/30/2024 | 0.076970 | 0.000000 | 0.000000 | 0.076970 |
| 02/21/2024 | 02/22/2024 | 02/29/2024 | 0.105640 | 0.000000 | 0.000000 | 0.105640 |
| 03/20/2024 | 03/21/2024 | 03/26/2024 | 0.102060 | 0.000000 | 0.000000 | 0.102060 |
| 04/22/2024 | 04/23/2024 | 04/29/2024 | 0.120840 | 0.000000 | 0.000000 | 0.120840 |
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% | |
| 2023-Q4: 11/15/2023 through 12/29/2023 | 0 | 0 | 0 | 1 | 16 | 13 | 1 | 0 | 0 | 0 |
| 2024-Q1: 1/2/2024 through 3/28/2024 | 0 | 0 | 0 | 0 | 35 | 26 | 0 | 0 | 0 | 0 |
Risk Considerations
Marketing Materials
| Newfleet Fixed Income Fund Capabilities | |
| ETF Product Guide | |
| Virtus ETF Ticker Menu | |
| The Case for Multi-Sector Fixed Income Investing Remains Strong in the Current Environment |
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.