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Exchange-Traded Fund Fixed Income Multi-Sector

Virtus Newfleet Short Duration Core Plus Bond ETF

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Ticker
SDCP
CUSIP
92790A884
Inception
11/15/2023
Closing Price
$
(as of 05/16/2024)
30-Day Median Bid/Ask Spread
1.35% (as of 05/16/2024)
Premium/Discount
$0.01 (as of 05/16/2024)
4PM Bid/Offer Midpoint
$25.75 (as of 05/16/2024)
Shares Outstanding
400,004 (as of 05/16/2024)
Daily Trading Volume
0.00 (as of 05/16/2024)
20 Day Average Trading Volume
225.00 (as of 05/16/2024)
Net Assets
$10,294,493 (as of 05/16/2024)

Portfolio Overview

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.

Management Team

Investment Partner

Newfleet Asset Management

Newfleet Asset Management is a multi-sector fixed income manager with more than a quarter century of experience investing across the full fixed income universe.

Newfleet 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 construct diversified portfolios.

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 - 400x400

David L. Albrycht, CFA

President and Chief Investment Officer

Industry start date: 1985
Start date as fund Portfolio Manager: 2023

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Lisa Baribault

Lisa M. Baribault

Director and Portfolio Manager

Industry start date: 2003
Start date as fund Portfolio Manager: 2023

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Ben Caron

Benjamin Caron, CFA

Senior Managing Director and Portfolio Manager

Industry start date: 1997
Start date as fund Portfolio Manager: 2023

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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

Portfolio

Top Holdings (% Fund)

(as of 05/17/2024)
Security
OBX 2023-NQM5 A1A 6.567 06/25/2063
3.43
 3.43
US TREASURY N/B 0.250 05/31/2025
3.00
 3.00
GSAR 2023-2A A3 6.380 02/15/2029
2.97
 2.97
US TREASURY N/B 5.000 10/31/2025
2.96
 2.96
AH4R 2015-SFR1 A 3.467 04/17/2052
2.96
 2.96
FCRT 2023-1 A3 5.390 12/15/2027
2.90
 2.90
HOMES 2023-NQM2 A1 6.456 02/25/2068
2.84
 2.84
COLT 2023-3 A1 7.180 09/25/2068
2.78
 2.78
MST 2019-1A A1A 3.750 04/25/2058
2.59
 2.59
OPTN 2021-C A 2.180 10/08/2031
2.07
 2.07

Performance

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 (Gross) 0.40
Total Expense Ratio (Net) 0.35
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 0.05% through at least November 30, 2025, which will have the effect of reducing the Fund's total expenses to 0.35%, excluding certain expenses as discussed above.

Yields / Distribution Rate1

(as of 04/30/2024)
30-day SEC Yield 5.32
30-day SEC Yield (unsubsidized) 5.27
Distribution Rate (as of 05/16/2024) 5.63

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


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

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.
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.
Foreign Investing: Investing in foreign securities subjects the portfolio to additional risks such as increased volatility; currency fluctuations; less liquidity; less publicly available information about the foreign investment; and political, regulatory, economic, and market risk.
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.
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.
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.

Documents & Resources

Marketing Materials

Virtus Newfleet Short Duration Core Plus Bond ETF Fact Sheet
ETF Product Guide
Virtus ETF Ticker Menu
The Case for Multi-Sector Fixed Income Investing Remains Strong in the Current Environment
Spotlight on Global Credit
Newfleet 2024 Fixed Income Market Outlook
Newfleet Market Review & Outlook - Multi Sector

Positions

Positions SDCP

Distributions

2024 Distribution Calendar - ETF

Financial Materials

Virtus Newfleet Short Duration Core Plus Bond ETF (SDCP) Prospectus
Virtus Newfleet Short Duration Core Plus Bond ETF (SDCP) SAI
Virtus ETF Trust II Semi-Annual Report | 2024

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.