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Exchange Traded Fund Fixed Income Leveraged Finance

Virtus Seix Senior Loan ETF

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Ticker
SEIX
CUSIP
92790A405
Inception
04/24/2019
Closing Price
$
(as of 09/28/2022)
30-Day Median Bid/Ask Spread
0.42% (as of 09/28/2022)
Premium/Discount
$0.01 (as of 09/28/2022)
4PM Bid/Offer Midpoint
$23.19 (as of 09/28/2022)
Shares Outstanding
3,875,004 (as of 09/28/2022)
Daily Trading Volume
11,700.00 (as of 09/28/2022)
20 Day Average Trading Volume
22,335.00 (as of 09/28/2022)
Net Assets
$89,818,650 (as of 09/28/2022)

Portfolio Overview

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

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.

Seix Investment Advisors is a division of Virtus Fixed Income Advisers, LLC ("VFIA"), an SEC registered investment adviser.


Learn more about Seix Investment Advisors

Investment Professionals

George Goudelias

George Goudelias

Managing Director, Head of Leveraged Finance, Senior Portfolio Manager

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

Portfolio

Top Holdings (% Fund)

(as of 09/29/2022)
Security
MA FINANCECO LLC 7.147 02/28/2027
2.37
 2.37
KEANE GROUP HOLDINGS LLC 6.274 05/25/2025
1.81
 1.81
WILLIAM MORRIS ENDEAVOR EN 5.407 05/18/2025
1.75
 1.75
DIRECTV FINANCING LLC 8.052 08/02/2027
1.72
 1.72
ASP NAVIGATE ACQUISITIO 7.584 10/06/2027
1.66
 1.66
ARISTOCRAT TECHNOLOGIES 4.404 05/24/2029
1.63
 1.63
M6 ETX HOLDINGS II MIDCO 6.793 09/19/2029
1.62
 1.62
US FOODS INC 4.524 09/13/2026
1.60
 1.60
TRADER INTERACTIVE LLC 7.052 07/28/2028
1.51
 1.51
AADVANTAGE LOYALTY IP 7.834 04/20/2028
1.50
 1.50

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.

Fees & Expenses

Total Expense Ratio 0.57
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 08/31/2022)
30-day SEC Yield 6.31
Distribution Rate (as of 09/28/2022) 4.31

Distribution History2

Ex-Date Record Date Payable Date Dividend Income ST Capital Gains LT Capital Gains Distribution Total
10/20/2021 10/21/2021 10/28/2021 0.072880 0.000000 0.000000 0.072880
11/22/2021 11/23/2021 11/30/2021 0.090550 0.000000 0.000000 0.090550
12/20/2021 12/21/2021 12/29/2021 0.125600 0.132710 0.000000 0.258310
01/20/2022 01/21/2022 01/28/2022 0.052840 0.000000 0.000000 0.052840
02/22/2022 02/23/2022 02/28/2022 0.084870 0.000000 0.000000 0.084870
03/21/2022 03/22/2022 03/29/2022 0.079370 0.000000 0.000000 0.079370
04/20/2022 04/21/2022 04/28/2022 0.073240 0.000000 0.000000 0.073240
05/20/2022 05/23/2022 05/31/2022 0.094770 0.000000 0.000000 0.094770
06/21/2022 06/22/2022 06/29/2022 0.119180 0.000000 0.000000 0.119180
07/20/2022 07/21/2022 07/28/2022 0.097340 0.000000 0.000000 0.097340
08/22/2022 08/23/2022 08/30/2022 0.083170 0.000000 0.000000 0.083170


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%
2020-Q3: 7/1/2020 through 9/30/2020 0 0 0 2 54 8 0 0 0 0
2020-Q4: 10/1/2020 through 12/31/2020 0 0 0 0 38 26 0 0 0 0
2021-Q1: 1/4/2021 through 3/31/2021 0 0 0 0 26 35 0 0 0 0
2021-Q2: 4/1/2021 through 6/30/2021 0 0 0 0 51 12 0 0 0 0
2021-Q3: 7/1/2021 through 9/30/2021 0 0 0 0 53 11 0 0 0 0
2021-Q4: 10/1/2021 through 12/31/2021 0 0 0 0 48 16 0 0 0 0
2022-Q1: 1/3/2022 through 3/31/2022 0 0 0 0 32 30 0 0 0 0
2022-Q2: 4/1/2022 through 6/30/2022 0 0 0 0 31 31 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.
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.
Bank Loans: Bank loans may be unsecured or not fully collateralized, may be subject to restrictions on resale, may be less liquid and may trade infrequently on the secondary market. Bank loans settle on a delayed basis; thus, sale proceeds may not be available to meet redemptions for a substantial period of time after the sale of the loan.
Foreign & Emerging Markets: Investing in foreign securities, especially in emerging markets, subjects the portfolio to additional risks such as increased volatility, currency fluctuations, less liquidity, and political, regulatory, 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.
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. Price changes may be short- or long-term. Local, regional, or global events such as war (e.g., Russia's invasion of Ukraine), acts of terrorism, the spread of infectious illness (e.g., COVID-19 pandemic) 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's 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 Seix Senior Loan ETF Fact Sheet
Seix Senior Loan ETF Commentary
Virtus ETF Ticker Menu
ETF Product Guide
Seix Market Review - Leveraged Finance
Seix Market Review - Leveraged Finance
Leveraged Loans: An All-Weather Asset Class
Inside ESG Investing at Seix

Positions

Positions SEIX

Distributions

2022 Distribution Calendar - ETF

Financial Materials

Virtus Seix Senior Loan ETF (SEIX) Prospectus - November 2021
Virtus Seix Senior Loan ETF (SEIX) SAI - November 2021
Virtus ETF Trust II Annual Report | 2021
Virtus ETF Trust II Semi-Annual Report | 2022

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.

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.