|NAV Daily Change||$ -0.03|
|Market Price||$ 23.40|
|Market Price Daily Change||$ -0.06|
|Premium Discount||$ -0.01|
|30 Day Median Bid/Ask Spread*||0.17%|
|Name||Symbol||Net Asset %||Market Price ($)||Shares Held||Market Value|
|VANGUARD TOTAL BOND MARKE||BND||10.75 %||83.08||225,781||18,757,885|
|VANGUARD INT-TERM CORPORA||VCIT||10.72 %||90.52||206,638||18,704,872|
|US DOLLARS||0.97 %||1||1,694,459||1,694,459|
|ISHARES CORE U.S. AGGREGA||AGG||10.75 %||111.79||167,728||18,750,313|
|ISHARES IBOXX HIGH YLD CO||HYG||18.75 %||85.43||382,729||32,696,538|
|ISHARES IBOXX INVESTMENT||LQD||10.69 %||128.06||145,564||18,640,926|
|XTRACKERS USD HIGH YIELD||HYLB||18.73 %||39.12||835,117||32,669,777|
|SPDR BLOOMBERG H||JNK||18.75 %||106.62||306,801||32,711,123|
Portfolio holdings are subject to change and should not be considered investment advice.
* The median bid-ask spread is calculated by identifying the national best bid and national best offer ("NBBO") for each fund as of the end of each 10 second interval during each trading day of the last 30 calendar days and dividing the difference between ach such bid nd 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.
The FormulaFolios Tactical Income ETF seeks to provide steady income by accentuating the fixed-income asset classes showing the greatest potential for stable long term returns with minimal risk. This Fund uses a proprietary investment model to rank 5 major fixed income asset classes (US treasuries, investment grade US bonds, high-yield US bonds, US aggregate bond, and international government bond) based on the strongest combination of yield spread and price momentum (higher price momentum and lower yield spreads). Following the ranking process, the three highest-ranked asset classes are allocated to the Fund, while the two lowest ranked asset classes are left out of the Fund. When few (2 or fewer) or none of the asset classes meet the model’s price momentum criteria, the Fund may invest heavily in short-term treasury bonds until more asset classes become favorable for investing.