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May 31, 2022 – Nancy Davis Appears on CNBC World To Discuss Inflation and the U.S. Markets
May 31, 2022 – Stocks Rebound Friday, But Not Enough Following a Week of Big Losses
March 25, 2022 – Playing the Volatility: Quadratic’s Nancy Davis on Opportunity
February 9, 2022 – Nancy Davis of Quadratic Capital Opines on the Fed’s Moves and Market Sell-Off
KFA Funds is a premier platform for developing and delivering differentiated, high-conviction investment strategies to global investors. Our newsletter is a collaboration between our internal research department and our distinguished partners. Together we strive to offer differentiated perspectives on high-conviction investment strategies and themes.
280 Park Avenue, 32nd Floor
New York, NY 10017
1 Embarcadero Center, Suite 2350
San Francisco, CA 94111
KVLE is benchmarked to the 3D/L Value Line® Dynamic Core Equity Index, which introduces a market adaptive approach to investing in US large cap companies. The strategy seeks to capture quality US companies based on a three-factor process that selects stocks with high dividend yields and are the highest rated among Value Line®’s Safety™ and Timeliness™ Ranking Systems. Careful quantitative modelling, that incorporates a unique set of risk management tools, adjusts the beta of the overall portfolio based on the market environment. The index is rebalanced monthly.
Ticker | KVLE |
Primary Exchange | NYSE |
CUSIP | 500767645 |
ISIN | US5007676456 |
Net Assets | $26,989,594 |
Total Annual Fund Operating Expense | 0.55% |
Inception Date | 11/24/2020 |
Distribution Frequency | Quarterly |
NAV | |
Net Asset Value | $21.59 |
Daily Change | -0.24% |
Price | |
Market Price | $21.55 |
Daily Change | -0.71% |
30 Day Median Bid/Ask Spread |
0.32% |
The ETF’s 30 Day Median Bid-Ask Spread is calculated by identifying the ETF’s national best bid and national best offer ("NBBO") as of the end of each 10 second interval during each trading day of the last 30 calendar days and dividing the difference between each such bid and offer by the midpoint of the NBBO. The median of those values is identified and that value is expressed as a percentage rounded to the nearest hundredth.
NAV | Market Price | Premium/Discount |
$21.59 | $21.55 | $-0.04 |
2021 Full Year | Q1 2022 | Q2 2022 | Q2 2022 | |
Days traded at premium | 132 | 74 | 28 | 28 |
Days traded at NAV | 0 | 0 | 0 | 0 |
Days traded at discount | 120 | 50 | 34 | 33 |
The Premium/Discount History chart demonstrates the difference between the daily market price of shares of the Fund and the Fund’s net asset value (NAV). The vertical axis of the chart shows the premium or discount of the daily market price as a percentage of the NAV. The horizontal axis shows each trading day in the time period, and each data point in the chart represents the Premium/Discount on that day. The data presented in the chart and table above represent past performance and cannot be used to predict future results.
Cumulative %Data as of: 06/30/2022 |
Fund NAV | Closing Price | Index |
1 Month | -5.77% | -5.94% | – |
3 Month | -7.73% | -8.06% | – |
6 Month | -9.50% | -9.74% | – |
Since Inception | 19.98% | 19.75% | – |
Avg Annualized %
Data as of quarter end: 06/30/2022
|
Fund NAV | Closing Price | Index |
1 Year | -1.08% | -1.34% | – |
Since Inception | 12.06% | 11.92% | – |
The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted.
The Growth of $10,000 chart reflects an initial investment of $10,000 on the day prior to the selected time period and assumes reinvestment of dividends and capital gains. For the growth of $10,000 chart since inception, the initial investment of $10,000 is instead made on the inception date of the Fund. Fund expenses, including management fees and other expenses were deducted. The growth of a $10,000 investment in the fund is hypothetical and for illustration purposes only.
2022 Distributions | |||
Ex-Date | Record Date | Payable Date | Amount |
6/28/2022 | 6/29/2022 | 6/30/2022 | 0.12111 |
3/29/2022 | 3/30/2022 | 3/31/2022 | 0.110853 |
2021 Distributions | |||
Ex-Date | Record Date | Payable Date | Amount |
12/29/2021 | 12/30/2021 | 12/31/2021 | 2.001847 |
9/28/2021 | 9/29/2021 | 9/30/2021 | 0.292556 |
2020 Distributions | |||
Ex-Date | Record Date | Payable Date | Amount |
12/30/2020 | 12/31/2020 | 1/4/2021 | 0.073054 |
30-day SEC Yield | 2.64% |
Unsubsidized 30-day SEC Yield | 2.64% |
30-day SEC Yield (Subsidized/Unsubsidized) is a standard yield calculation developed by the U.S. Securities and Exchange Commission (SEC) that allows for fairer comparisons of bond funds. It is based on the most recent 30-day period covered by the fund's filings with the SEC. Unsubsidized yield does not adjust for any fee waivers and/or expense reimbursements in effect.
Rank | Name | % of Net Assets | Ticker | Identifier | Shares Held | Market Value($) |
1 | APPLE INC | 4.18% | AAPL | US0378331005 | 8,232 | 1,143,672 |
2 | MICROSOFT CORP | 2.88% | MSFT | US5949181045 | 3,034 | 787,566 |
3 | JPMORGAN CHASE & CO | 2.28% | JPM | US46625H1005 | 5,528 | 624,940 |
4 | COCA-COLA CO/THE | 2.27% | KO | US1912161007 | 9,662 | 622,040 |
5 | PEPSICO INC | 2.16% | PEP | US7134481081 | 3,497 | 592,357 |
6 | MERCK & CO. INC. | 2.11% | MRK | US58933Y1055 | 6,261 | 578,642 |
7 | VERIZON COMMUNIC | 2.06% | VZ | US92343V1044 | 10,943 | 565,097 |
8 | UNITED PARCEL-B | 2.01% | UPS | US9113121068 | 2,978 | 550,900 |
9 | CISCO SYSTEMS INC | 2.01% | CSCO | US17275R1023 | 13,042 | 550,633 |
10 | AT&T INC | 1.98% | T | US00206R1023 | 25,371 | 540,656 |
Holdings are subject to change.
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