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Exchange Traded FundFixed Income

Virtus Seix Senior Loan ETF

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Ticker
SEIX
CUSIP
92790A405
Closing Price
$
(as of 12/09/2019)
Inception
04/24/2019
Premium/Discount
$0.00
(as of 12/09/2019)
4PM Bid/Offer Midpoint
$24.85
(as of 12/09/2019)
Shares Outstanding
250,004
(as of 12/09/2019)
Daily Trading Volume
0.00
(as of 12/09/2019)
20 Day Average Trading Volume
25.00
(as of 12/09/2019)
Net Assets
$6,211,981
(as of 12/09/2019)
Investment Overview

The Fund actively invests in senior-secured, floating rate leveraged loans, seeking to generate high levels of current income. Time-tested, fundamental research targets the strongest and most undervalued credits, aiming to capture upside potential while limiting downside risk.

Management Team

Investment Partner

Seix Investment Advisors LLC

Seix Investment Advisors is an investment management boutique focused exclusively on managing fixed income securities since 1992. Seix seeks to generate competitive absolute and relative risk-adjusted returns over the full market cycle through a bottom-up focused, top-down aware process. Seix employs multi-dimensional approaches based on strict portfolio construction methodology, sell disciplines and trading strategies with prudent risk management as a cornerstone.


Learn more about Seix Investment Advisors LLC
Investment Professionals
George Goudelias
George Goudelias

Senior Portfolio Manager, Managing Director, Head of Leveraged Finance

Industry start date: 1987

Start date as fund Portfolio Manager: 2019

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Vincent Flanagan
Vincent Flanagan

Portfolio Manager, Senior Leveraged Finance Research Analyst

Industry start date: 1997

Start date as fund Portfolio Manager: 2019

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Eric Guevara
Eric Guevara

Head of Leveraged Loan Trading and Portfolio Manager

Industry start date: 2000

Start date as fund Portfolio Manager: 2019

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Key Features
Actively Managed

Provides discerning leveraged loan investors ongoing fundamental credit risk management and enhanced liquidity in a transparent and cost effective vehicle

Diversification

Leveraged loans offer the potential for higher income and lower correlations to other fixed income asset classes, and though they may potentially provide protection in a rising interest rate environment, they have historically performed well in periods of stable interest rates

Higher Quality Loans

The Seix leveraged loan investment philosophy emphasizes BB- and B-rated loans, seeking to invest in the healthiest and most undervalued credits in the non-investment grade space

Positions & Distributions

Top Issuers (% Fund)
(as of 12/10/2019)
Security
INEOS ENTERPRISES HOLDIN 5.892 09/03/2026
4.36
 4.36
LCPR LOAN FINANCING LLC 6.765 10/25/2026
4.07
 4.07
DELL INTERNATIONAL LLC 3.702 09/19/2025
4.06
 4.06
SINCLAIR TELEVISION GROU 4.215 09/30/2026
4.04
 4.04
COTY INC 4.834 04/05/2025
3.90
 3.90
WATERBRIDGE MIDSTREAM OP 7.885 06/21/2026
3.83
 3.83
ALTICE LUXEMBOURG SA 10.500 05/15/2027
3.65
 3.65
INNOVIVA INC 7.151 08/18/2022
3.37
 3.37
ASURION LLC 8.202 08/04/2025
3.26
 3.26
KAR AUCTION SERVICES INC 3.972 09/19/2026
3.25
 3.25

Does not include cash/cash equivalents.

Distribution History2
Ex-Date Record Date Payable Date Dividend Income ST Capital Gains LT Capital Gains Distribution Total
06/20/2019 06/21/2019 06/28/2019 0.129430 0.000000 0.000000 0.129430
07/22/2019 07/23/2019 07/30/2019 0.112730 0.000000 0.000000 0.112730
08/20/2019 08/21/2019 08/28/2019 0.108780 0.000000 0.000000 0.108780
09/20/2019 09/23/2019 09/30/2019 0.111570 0.000000 0.000000 0.111570
10/21/2019 10/22/2019 10/29/2019 0.107230 0.000000 0.000000 0.107230
11/20/2019 11/21/2019 11/29/2019 0.123800 0.000000 0.000000 0.123800

Performance & Risk

Performance
Quarterly
As of
Monthly
As of
1 Month 3 Month YTD 1 Year 3 Years 5 Years 10 Years Since Inception

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
Expenses are based on estimated amounts for the current fiscal year. 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.
Fees & Expenses
Total Expense Ratio 0.57
Expenses are based on estimated amounts for the current fiscal year. 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 Rate
(as of 11/29/2019)
30-day SEC Yield 5.45
Distribution Rate (as of 12/09/2019) 5.98

Premium/Discount
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: 4/24/2019 through 6/28/2019 0 0 0 0 7 40 0 0 0 0
2019-Q3: 7/1/2019 through 9/30/2019 0 0 0 0 19 44 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 of owning the ETF may exceed the cost of investing directly in the underlying securities.
Credit & Interest: Debt securities are subject to various risks, the most prominent of which are credit and interest rate risk. The issuer of a debt security may fail to make interest and/or principal payments. Values of debt securities may rise or fall in response to changes in interest rates, and this risk may be enhanced with longer-term maturities.
High Yield-High Risk Fixed Income Securities: There is a greater level of credit risk and price volatility involved with high yield securities than investment grade securities.
Bank Loans: Loans may be unsecured or not fully collateralized, may be subject to restrictions on resale and/or trade infrequently on the secondary market. Loans can carry significant credit and call risk, can be difficult to value, and have longer settlement times than other investments, which can make loans relatively illiquid at times.
Foreign & Emerging Markets: Investing internationally, especially in emerging markets, involves additional risks such as currency, political, accounting, economic, and market risk.
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
Seix Senior Loan ETF Fact Sheet
Senior Loan ETFs: The Strong Case for Active Management
Precision Exposure Across Non-Traditional Sources of Income
Virtus ETF Ticker Menu
Holdings
Positions SEIX
Financial Materials
BLHY, SEIX Prospectus Supplement - November 2019
Virtus Seix Senior Loan ETF (SEIX) Prospectus - November 2019
Virtus Seix Senior Loan ETF (SEIX) SAI - November 2019
Virtus ETF Trust II Annual Report | 2019

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.

30-day SEC Yield is a standardized yield calculated according to a formula set by the SEC, and is subject to change.

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.

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