UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number 811-22717
First Trust Exchange-Traded Fund VI |
(Exact name of registrant as specified in charter) |
120 East Liberty Drive, Suite 400 Wheaton, IL 60187 |
(Address of principal executive offices) |
W. Scott Jardine, Esq. First Trust Portfolios L.P. 120 East Liberty Drive, Suite 400 Wheaton, IL 60187 |
(Name and address of agent for service) |
Registrant’s telephone number, including area code: (630) 765-8000
Date of fiscal year end:March 31
Date of reporting period:March 31, 2019
Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policymaking roles.
A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 100 F Street, NE, Washington, DC 20549. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.
Item 1. Report to Stockholders.
The registrant’s annual report transmitted to shareholders pursuant to Rule 30e-1 under the Investment Company Act of 1940 is as follows:
First Trust Nasdaq Bank ETF (FTXO)
First Trust Nasdaq Food & Beverage ETF (FTXG)
First Trust Nasdaq Oil & Gas ETF (FTXN)
First Trust Nasdaq Pharmaceuticals ETF (FTXH)
First Trust Nasdaq Retail ETF (FTXD)
First Trust Nasdaq Semiconductor ETF (FTXL)
First Trust Nasdaq Transportation ETF (FTXR)
For the Year Ended
March 31, 2019
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Fund Performance Overview | |
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7 | |
9 | |
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13 | |
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19 | |
20 | |
Portfolio of Investments | |
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57 |
Performance | |||
Average Annual Total Returns | Cumulative Total Returns | ||
1 Year Ended 3/31/19 | Inception (9/20/16) to 3/31/19 | Inception (9/20/16) to 3/31/19 | |
Fund Performance | |||
NAV | -14.49% | 10.30% | 28.11% |
Market Price | -14.58% | 10.30% | 28.11% |
Index Performance | |||
Nasdaq US Smart Banks Index | -14.02% | 11.02% | 30.21% |
NASDAQ US Benchmark Banks Index | -7.89% | 14.31% | 40.20% |
NASDAQ US Benchmark Index | 8.64% | 13.80% | 38.62% |
Sector Allocation | % of Total Investments |
Financials | 100.0% |
Total | 100.0% |
Top Ten Holdings | % of Total Investments |
US Bancorp | 8.1% |
People’s United Financial, Inc. | 8.1 |
New York Community Bancorp, Inc. | 8.1 |
Huntington Bancshares, Inc. | 7.7 |
Citizens Financial Group, Inc. | 7.7 |
PNC Financial Services Group (The), Inc. | 4.3 |
JPMorgan Chase & Co. | 4.2 |
Wells Fargo & Co. | 4.2 |
First Republic Bank | 4.2 |
Signature Bank | 4.1 |
Total | 60.7% |
Performance figures assume reinvestment of all distributions and do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. An index is a statistical composite that tracks a specified financial market or sector. Unlike the Fund, the indices do not actually hold a portfolio of securities and therefore do not incur the expenses incurred by the Fund. These expenses negatively impact the performance of the Fund. The Fund’s past performance does not predict future performance.
Number of Days Bid/Ask Midpoint At/Above NAV | ||||
For the Period | 0.00%–0.49% | 0.50%–0.99% | 1.00%–1.99% | >=2.00% |
9/21/16 – 3/31/17 | 98 | 0 | 0 | 0 |
4/1/17 – 3/31/18 | 186 | 0 | 0 | 0 |
4/1/18 – 3/31/19 | 163 | 6 | 0 | 0 |
Number of Days Bid/Ask Midpoint Below NAV | ||||
For the Period | 0.00%–0.49% | 0.50%–0.99% | 1.00%–1.99% | >=2.00% |
9/21/16 – 3/31/17 | 34 | 1 | 0 | 0 |
4/1/17 – 3/31/18 | 64 | 0 | 0 | 0 |
4/1/18 – 3/31/19 | 81 | 0 | 1 | 0 |
Performance | |||
Average Annual Total Returns | Cumulative Total Returns | ||
1 Year Ended 3/31/19 | Inception (9/20/16) to 3/31/19 | Inception (9/20/16) to 3/31/19 | |
Fund Performance | |||
NAV | 3.13% | 1.56% | 4.00% |
Market Price | 2.77% | 1.48% | 3.79% |
Index Performance | |||
Nasdaq US Smart Food & Beverage Index | 3.78% | 2.20% | 5.65% |
NASDAQ US Benchmark Food & Beverage Index | 6.50% | 4.37% | 11.42% |
NASDAQ US Benchmark Index | 8.64% | 13.80% | 38.62% |
Sector Allocation | % of Total Investments |
Consumer Staples | 98.9% |
Financials | 1.1 |
Total | 100.0% |
Top Ten Holdings | % of Total Investments |
Tyson Foods, Inc., Class A | 8.6% |
Post Holdings, Inc. | 8.2 |
Mondelez International, Inc., Class A | 8.0 |
Hershey (The) Co. | 7.9 |
Archer-Daniels-Midland Co. | 7.7 |
McCormick & Co., Inc. | 4.2 |
JM Smucker (The) Co. | 4.2 |
General Mills, Inc. | 4.2 |
Lamb Weston Holdings, Inc. | 4.1 |
PepsiCo, Inc. | 4.0 |
Total | 61.1% |
Performance figures assume reinvestment of all distributions and do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. An index is a statistical composite that tracks a specified financial market or sector. Unlike the Fund, the indices do not actually hold a portfolio of securities and therefore do not incur the expenses incurred by the Fund. These expenses negatively impact the performance of the Fund. The Fund’s past performance does not predict future performance.
Number of Days Bid/Ask Midpoint At/Above NAV | ||||
For the Period | 0.00%–0.49% | 0.50%–0.99% | 1.00%–1.99% | >=2.00% |
9/21/16 – 3/31/17 | 117 | 0 | 0 | 0 |
4/1/17 – 3/31/18 | 191 | 1 | 0 | 0 |
4/1/18 – 3/31/19 | 134 | 3 | 5 | 0 |
Number of Days Bid/Ask Midpoint Below NAV | ||||
For the Period | 0.00%–0.49% | 0.50%–0.99% | 1.00%–1.99% | >=2.00% |
9/21/16 – 3/31/17 | 15 | 1 | 0 | 0 |
4/1/17 – 3/31/18 | 58 | 0 | 0 | 0 |
4/1/18 – 3/31/19 | 107 | 1 | 1 | 0 |
Performance | |||
Average Annual Total Returns | Cumulative Total Returns | ||
1 Year Ended 3/31/19 | Inception (9/20/16) to 3/31/19 | Inception (9/20/16) to 3/31/19 | |
Fund Performance | |||
NAV | -3.27% | -0.07% | -0.17% |
Market Price | -3.32% | -0.04% | -0.11% |
Index Performance | |||
Nasdaq US Smart Oil & Gas Index | -2.69% | 0.57% | 1.46% |
NASDAQ US Benchmark Oil & Gas Index | 0.20% | 2.21% | 5.67% |
NASDAQ US Benchmark Index | 8.64% | 13.80% | 38.62% |
Sector Allocation | % of Total Investments |
Energy | 92.2% |
Utilities | 7.8 |
Total | 100.0% |
Top Ten Holdings | % of Total Investments |
Kinder Morgan, Inc. | 8.1% |
Chevron Corp. | 7.9 |
Exxon Mobil Corp. | 7.9 |
OGE Energy Corp. | 7.8 |
Williams (The) Cos., Inc. | 6.9 |
Southwestern Energy Co. | 4.3 |
ONEOK, Inc. | 4.2 |
Devon Energy Corp. | 4.1 |
Cheniere Energy, Inc. | 4.1 |
Apache Corp. | 4.0 |
Total | 59.3% |
Performance figures assume reinvestment of all distributions and do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. An index is a statistical composite that tracks a specified financial market or sector. Unlike the Fund, the indices do not actually hold a portfolio of securities and therefore do not incur the expenses incurred by the Fund. These expenses negatively impact the performance of the Fund. The Fund’s past performance does not predict future performance.
Number of Days Bid/Ask Midpoint At/Above NAV | ||||
For the Period | 0.00%–0.49% | 0.50%–0.99% | 1.00%–1.99% | >=2.00% |
9/21/16 – 3/31/17 | 86 | 4 | 0 | 0 |
4/1/17 – 3/31/18 | 187 | 5 | 1 | 0 |
4/1/18 – 3/31/19 | 181 | 3 | 3 | 0 |
Number of Days Bid/Ask Midpoint Below NAV | ||||
For the Period | 0.00%–0.49% | 0.50%–0.99% | 1.00%–1.99% | >=2.00% |
9/21/16 – 3/31/17 | 43 | 0 | 0 | 0 |
4/1/17 – 3/31/18 | 57 | 0 | 0 | 0 |
4/1/18 – 3/31/19 | 61 | 2 | 1 | 0 |
Performance | |||
Average Annual Total Returns | Cumulative Total Returns | ||
1 Year Ended 3/31/19 | Inception (9/20/16) to 3/31/19 | Inception (9/20/16) to 3/31/19 | |
Fund Performance | |||
NAV | 2.30% | 4.07% | 10.60% |
Market Price | 1.63% | 3.82% | 9.93% |
Index Performance | |||
Nasdaq US Smart Pharmaceuticals Index | 2.96% | 4.77% | 12.48% |
NASDAQ US Benchmark Pharmaceuticals Index | 16.21% | 11.29% | 31.04% |
NASDAQ US Benchmark Index | 8.64% | 13.80% | 38.62% |
Sector Allocation | % of Total Investments |
Health Care | 100.0% |
Total | 100.0% |
Top Ten Holdings | % of Total Investments |
Abbott Laboratories | 8.4% |
Eli Lilly & Co. | 8.3 |
Merck & Co., Inc. | 8.3 |
Pfizer, Inc. | 7.9 |
Horizon Pharma PLC | 7.4 |
Zoetis, Inc. | 4.3 |
Allergan PLC | 4.3 |
Johnson & Johnson | 4.1 |
Jazz Pharmaceuticals PLC | 4.1 |
Catalent, Inc. | 3.8 |
Total | 60.9% |
Performance figures assume reinvestment of all distributions and do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. An index is a statistical composite that tracks a specified financial market or sector. Unlike the Fund, the indices do not actually hold a portfolio of securities and therefore do not incur the expenses incurred by the Fund. These expenses negatively impact the performance of the Fund. The Fund’s past performance does not predict future performance.
Number of Days Bid/Ask Midpoint At/Above NAV | ||||
For the Period | 0.00%–0.49% | 0.50%–0.99% | 1.00%–1.99% | >=2.00% |
9/21/16 – 3/31/17 | 62 | 0 | 1 | 0 |
4/1/17 – 3/31/18 | 178 | 1 | 0 | 0 |
4/1/18 – 3/31/19 | 175 | 9 | 4 | 0 |
Number of Days Bid/Ask Midpoint Below NAV | ||||
For the Period | 0.00%–0.49% | 0.50%–0.99% | 1.00%–1.99% | >=2.00% |
9/21/16 – 3/31/17 | 70 | 0 | 0 | 0 |
4/1/17 – 3/31/18 | 70 | 1 | 0 | 0 |
4/1/18 – 3/31/19 | 58 | 5 | 0 | 0 |
Performance | |||
Average Annual Total Returns | Cumulative Total Returns | ||
1 Year Ended 3/31/19 | Inception (9/20/16) to 3/31/19 | Inception (9/20/16) to 3/31/19 | |
Fund Performance | |||
NAV | 7.98% | 5.94% | 15.70% |
Market Price | 7.88% | 5.92% | 15.64% |
Index Performance | |||
Nasdaq US Smart Retail Index | 8.62% | 6.59% | 17.49% |
NASDAQ US Benchmark Retail Index | 15.79% | 18.72% | 54.27% |
NASDAQ US Benchmark Index | 8.64% | 13.80% | 38.62% |
Sector Allocation | % of Total Investments |
Consumer Discretionary | 67.6% |
Consumer Staples | 22.8 |
Health Care | 8.4 |
Industrials | 0.6 |
Communication Services | 0.6 |
Total | 100.0% |
Top Ten Holdings | % of Total Investments |
AutoZone, Inc. | 7.1% |
Target Corp. | 6.9 |
Kroger (The) Co. | 5.8 |
Sysco Corp. | 5.4 |
Dick’s Sporting Goods, Inc. | 5.0 |
TJX (The) Cos., Inc. | 4.2 |
Home Depot (The), Inc. | 4.2 |
Costco Wholesale Corp. | 4.1 |
Kohl’s Corp. | 4.1 |
Dollar General Corp. | 4.0 |
Total | 50.8% |
Performance figures assume reinvestment of all distributions and do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. An index is a statistical composite that tracks a specified financial market or sector. Unlike the Fund, the indices do not actually hold a portfolio of securities and therefore do not incur the expenses incurred by the Fund. These expenses negatively impact the performance of the Fund. The Fund’s past performance does not predict future performance.
Number of Days Bid/Ask Midpoint At/Above NAV | ||||
For the Period | 0.00%–0.49% | 0.50%–0.99% | 1.00%–1.99% | >=2.00% |
9/21/16 – 3/31/17 | 91 | 0 | 0 | 0 |
4/1/17 – 3/31/18 | 48 | 1 | 0 | 0 |
4/1/18 – 3/31/19 | 189 | 4 | 0 | 0 |
Number of Days Bid/Ask Midpoint Below NAV | ||||
For the Period | 0.00%–0.49% | 0.50%–0.99% | 1.00%–1.99% | >=2.00% |
9/21/16 – 3/31/17 | 42 | 0 | 0 | 0 |
4/1/17 – 3/31/18 | 201 | 0 | 0 | 0 |
4/1/18 – 3/31/19 | 57 | 1 | 0 | 0 |
Performance | |||
Average Annual Total Returns | Cumulative Total Returns | ||
1 Year Ended 3/31/19 | Inception (9/20/16) to 3/31/19 | Inception (9/20/16) to 3/31/19 | |
Fund Performance | |||
NAV | -1.62% | 21.04% | 62.00% |
Market Price | -1.75% | 20.98% | 61.80% |
Index Performance | |||
Nasdaq US Smart Semiconductor Index | -1.05% | 21.83% | 64.66% |
NASDAQ US Benchmark Semiconductors Index | 2.00% | 21.44% | 63.34% |
NASDAQ US Benchmark Index | 8.64% | 13.80% | 38.62% |
Sector Allocation | % of Total Investments |
Information Technology | 100.0% |
Total | 100.0% |
Top Ten Holdings | % of Total Investments |
Broadcom, Inc. | 8.6% |
Intel Corp. | 8.0 |
Xilinx, Inc. | 8.0 |
Analog Devices, Inc. | 7.8 |
InterDigital, Inc. | 7.5 |
KLA-Tencor Corp. | 4.1 |
Lam Research Corp. | 4.0 |
Skyworks Solutions, Inc. | 4.0 |
Texas Instruments, Inc. | 4.0 |
Maxim Integrated Products, Inc. | 3.9 |
Total | 59.9% |
Performance figures assume reinvestment of all distributions and do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. An index is a statistical composite that tracks a specified financial market or sector. Unlike the Fund, the indices do not actually hold a portfolio of securities and therefore do not incur the expenses incurred by the Fund. These expenses negatively impact the performance of the Fund. The Fund’s past performance does not predict future performance.
Number of Days Bid/Ask Midpoint At/Above NAV | ||||
For the Period | 0.00%–0.49% | 0.50%–0.99% | 1.00%–1.99% | >=2.00% |
9/21/16 – 3/31/17 | 106 | 15 | 0 | 0 |
4/1/17 – 3/31/18 | 172 | 0 | 0 | 0 |
4/1/18 – 3/31/19 | 168 | 6 | 1 | 0 |
Number of Days Bid/Ask Midpoint Below NAV | ||||
For the Period | 0.00%–0.49% | 0.50%–0.99% | 1.00%–1.99% | >=2.00% |
9/21/16 – 3/31/17 | 11 | 1 | 0 | 0 |
4/1/17 – 3/31/18 | 78 | 0 | 0 | 0 |
4/1/18 – 3/31/19 | 72 | 3 | 1 | 0 |
Performance | |||
Average Annual Total Returns | Cumulative Total Returns | ||
1 Year Ended 3/31/19 | Inception (9/20/16) to 3/31/19 | Inception (9/20/16) to 3/31/19 | |
Fund Performance | |||
NAV | -5.11% | 7.83% | 20.98% |
Market Price | -5.30% | 7.81% | 20.93% |
Index Performance | |||
Nasdaq US Smart Transportation Index | -4.56% | 8.53% | 22.97% |
NASDAQ US Benchmark Industrial Transportation Index | 10.86% | 18.58% | 53.81% |
NASDAQ US Benchmark Index | 8.64% | 13.80% | 38.62% |
Sector Allocation | % of Total Investments |
Industrials | 69.3% |
Consumer Discretionary | 30.7 |
Total | 100.0% |
Top Ten Holdings | % of Total Investments |
Norfolk Southern Corp. | 8.5% |
Genuine Parts Co. | 8.4 |
CSX Corp. | 8.4 |
General Motors Co. | 7.7 |
United Continental Holdings, Inc. | 7.4 |
Kansas City Southern | 4.4 |
Delta Air Lines, Inc. | 4.3 |
United Parcel Service, Inc., Class B | 4.1 |
Ford Motor Co. | 4.1 |
Union Pacific Corp. | 4.1 |
Total | 61.4% |
Performance figures assume reinvestment of all distributions and do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. An index is a statistical composite that tracks a specified financial market or sector. Unlike the Fund, the indices do not actually hold a portfolio of securities and therefore do not incur the expenses incurred by the Fund. These expenses negatively impact the performance of the Fund. The Fund’s past performance does not predict future performance.
Number of Days Bid/Ask Midpoint At/Above NAV | ||||
For the Period | 0.00%–0.49% | 0.50%–0.99% | 1.00%–1.99% | >=2.00% |
9/21/16 – 3/31/17 | 91 | 7 | 0 | 0 |
4/1/17 – 3/31/18 | 128 | 0 | 0 | 0 |
4/1/18 – 3/31/19 | 115 | 2 | 0 | 0 |
Number of Days Bid/Ask Midpoint Below NAV | ||||
For the Period | 0.00%–0.49% | 0.50%–0.99% | 1.00%–1.99% | >=2.00% |
9/21/16 – 3/31/17 | 34 | 1 | 0 | 0 |
4/1/17 – 3/31/18 | 122 | 0 | 0 | 0 |
4/1/18 – 3/31/19 | 128 | 6 | 0 | 0 |
Beginning Account Value October 1, 2018 | Ending Account Value March 31, 2019 | Annualized Expense Ratio Based on the Six-Month Period | Expenses Paid During the Six-Month Period (a) | |
First Trust Nasdaq Bank ETF (FTXO) | ||||
Actual | $1,000.00 | $896.90 | 0.60% | $2.84 |
Hypothetical (5% return before expenses) | $1,000.00 | $1,021.94 | 0.60% | $3.02 |
First Trust Nasdaq Food & Beverage ETF (FTXG) | ||||
Actual | $1,000.00 | $1,038.30 | 0.60% | $3.05 |
Hypothetical (5% return before expenses) | $1,000.00 | $1,021.94 | 0.60% | $3.02 |
First Trust Nasdaq Oil & Gas ETF (FTXN) | ||||
Actual | $1,000.00 | $768.20 | 0.60% | $2.65 |
Hypothetical (5% return before expenses) | $1,000.00 | $1,021.94 | 0.60% | $3.02 |
First Trust Nasdaq Pharmaceuticals ETF (FTXH) | ||||
Actual | $1,000.00 | $919.30 | 0.60% | $2.87 |
Hypothetical (5% return before expenses) | $1,000.00 | $1,021.94 | 0.60% | $3.02 |
First Trust Nasdaq Retail ETF (FTXD) | ||||
Actual | $1,000.00 | $917.60 | 0.60% | $2.87 |
Hypothetical (5% return before expenses) | $1,000.00 | $1,021.94 | 0.60% | $3.02 |
Beginning Account Value October 1, 2018 | Ending Account Value March 31, 2019 | Annualized Expense Ratio Based on the Six-Month Period | Expenses Paid During the Six-Month Period (a) | |
First Trust Nasdaq Semiconductor ETF (FTXL) | ||||
Actual | $1,000.00 | $1,047.10 | 0.60% | $3.06 |
Hypothetical (5% return before expenses) | $1,000.00 | $1,021.94 | 0.60% | $3.02 |
First Trust Nasdaq Transportation ETF (FTXR) | ||||
Actual | $1,000.00 | $924.60 | 0.60% | $2.88 |
Hypothetical (5% return before expenses) | $1,000.00 | $1,021.94 | 0.60% | $3.02 |
(a) | Expenses are equal to the annualized expense ratios as indicated in the table multiplied by the average account value over the period (October 1, 2018 through March 31, 2019), multiplied by 182/365 (to reflect the six-month period). |
Shares | Description | Value | ||
COMMON STOCKS – 99.8% | ||||
Banks – 91.7% | ||||
84,125 | Bank of America Corp. | $2,321,009 | ||
74,584 | Bank OZK | 2,161,444 | ||
143,987 | BB&T Corp. | 6,699,715 | ||
38,236 | Citigroup, Inc. | 2,379,044 | ||
397,349 | Citizens Financial Group, Inc. | 12,913,843 | ||
28,083 | Comerica, Inc. | 2,059,046 | ||
23,595 | Cullen/Frost Bankers, Inc. | 2,290,367 | ||
44,797 | �� | East West Bancorp, Inc. | 2,148,912 | |
266,100 | Fifth Third Bancorp | 6,711,042 | ||
156,516 | First Horizon National Corp. | 2,188,094 | ||
69,909 | First Republic Bank | 7,023,058 | ||
1,018,603 | Huntington Bancshares, Inc. | 12,915,886 | ||
70,324 | JPMorgan Chase & Co. | 7,118,898 | ||
138,525 | KeyCorp | 2,181,769 | ||
42,407 | M&T Bank Corp. | 6,658,747 | ||
59,638 | PacWest Bancorp | 2,242,985 | ||
826,467 | People’s United Financial, Inc. | 13,587,117 | ||
58,237 | PNC Financial Services Group (The), Inc. | 7,143,350 | ||
447,502 | Regions Financial Corp. | 6,332,153 | ||
54,059 | Signature Bank | 6,923,336 | ||
120,332 | Sterling Bancorp | 2,241,785 | ||
9,898 | SVB Financial Group (a) | 2,200,919 | ||
61,652 | Synovus Financial Corp. | 2,118,363 | ||
40,084 | Texas Capital Bancshares, Inc. (a) | 2,188,186 | ||
134,562 | Umpqua Holdings Corp. | 2,220,273 | ||
283,963 | US Bancorp | 13,684,177 | ||
147,104 | Wells Fargo & Co. | 7,108,065 | ||
52,871 | Western Alliance Bancorp (a) | 2,169,826 | ||
143,621 | Zions Bancorp N.A. | 6,521,830 | ||
154,453,239 | ||||
Thrifts & Mortgage Finance – 8.1% | ||||
1,173,306 | New York Community Bancorp, Inc. | 13,575,150 | ||
Total Investments – 99.8% | 168,028,389 | |||
(Cost $191,532,779) (b) | ||||
Net Other Assets and Liabilities – 0.2% | 419,002 | |||
Net Assets – 100.0% | $168,447,391 |
(a) | Non-income producing security. |
(b) | Aggregate cost for federal income tax purposes was $193,453,636. As of March 31, 2019, the aggregate gross unrealized appreciation for all investments in which there was an excess of value over tax cost was $567,226 and the aggregate gross unrealized depreciation for all investments in which there was an excess of tax cost over value was $25,992,473. The net unrealized depreciation was $25,425,247. |
Total Value at 3/31/2019 | Level 1 Quoted Prices | Level 2 Significant Observable Inputs | Level 3 Significant Unobservable Inputs | |
Common Stocks* | $ 168,028,389 | $ 168,028,389 | $ — | $ — |
* | See Portfolio of Investments for industry breakout. |
Shares | Description | Value | ||
COMMON STOCKS – 99.8% | ||||
Beverages – 16.5% | ||||
485 | Brown-Forman Corp., Class B | $25,598 | ||
1,677 | Coca-Cola (The) Co. | 78,584 | ||
142 | Constellation Brands, Inc., Class A | 24,897 | ||
955 | Keurig Dr Pepper, Inc. | 26,711 | ||
1,233 | Molson Coors Brewing Co., Class B | 73,549 | ||
376 | Monster Beverage Corp. (a) | 20,522 | ||
658 | PepsiCo, Inc. | 80,638 | ||
330,499 | ||||
Diversified Financial Services – 1.1% | ||||
1,185 | Jefferies Financial Group, Inc. | 22,266 | ||
Food & Staples Retailing – 3.8% | ||||
2,158 | US Foods Holding Corp. (a) | 75,336 | ||
Food Products – 76.1% | ||||
3,578 | Archer-Daniels-Midland Co. | 154,319 | ||
452 | Bunge Ltd. | 23,988 | ||
667 | Campbell Soup Co. | 25,433 | ||
1,028 | Conagra Brands, Inc. | 28,517 | ||
1,613 | General Mills, Inc. | 83,473 | ||
1,221 | Hain Celestial Group (The), Inc. (a) | 28,230 | ||
1,374 | Hershey (The) Co. | 157,776 | ||
1,754 | Hormel Foods Corp. | 78,509 | ||
260 | Ingredion, Inc. | 24,619 | ||
718 | JM Smucker (The) Co. | 83,647 | ||
1,352 | Kellogg Co. | 77,578 | ||
724 | Kraft Heinz (The) Co. | 23,639 | ||
1,097 | Lamb Weston Holdings, Inc. | 82,209 | ||
559 | McCormick & Co., Inc. | 84,202 | ||
3,225 | Mondelez International, Inc., Class A | 160,992 | ||
1,493 | Post Holdings, Inc. (a) | 163,334 | ||
208 | Sanderson Farms, Inc. | 27,423 | ||
726 | TreeHouse Foods, Inc. (a) | 46,863 | ||
2,466 | Tyson Foods, Inc., Class A | 171,214 | ||
1,525,965 | ||||
Personal Products – 2.3% | ||||
428 | Herbalife Nutrition Ltd. (a) | 22,680 | ||
188 | Medifast, Inc. | 23,979 | ||
46,659 | ||||
Total Investments – 99.8% | 2,000,725 | |||
(Cost $1,880,934) (b) | ||||
Net Other Assets and Liabilities – 0.2% | 4,883 | |||
Net Assets – 100.0% | $2,005,608 |
(a) | Non-income producing security. |
(b) | Aggregate cost for federal income tax purposes was $1,884,445. As of March 31, 2019, the aggregate gross unrealized appreciation for all investments in which there was an excess of value over tax cost was $147,072 and the aggregate gross unrealized depreciation for all investments in which there was an excess of tax cost over value was $30,792. The net unrealized appreciation was $116,280. |
Total Value at 3/31/2019 | Level 1 Quoted Prices | Level 2 Significant Observable Inputs | Level 3 Significant Unobservable Inputs | |
Common Stocks* | $ 2,000,725 | $ 2,000,725 | $ — | $ — |
* | See Portfolio of Investments for industry breakout. |
Shares | Description | Value | ||
COMMON STOCKS – 99.9% | ||||
Electric Utilities – 7.8% | ||||
22,272 | OGE Energy Corp. | $960,369 | ||
Energy Equipment & Services – 5.2% | ||||
1,772 | Baker Hughes a GE Co. | 49,120 | ||
1,523 | Halliburton Co. | 44,624 | ||
863 | Helmerich & Payne, Inc. | 47,948 | ||
14,429 | Nabors Industries Ltd. | 49,636 | ||
1,661 | National Oilwell Varco, Inc. | 44,249 | ||
21,770 | Patterson-UTI Energy, Inc. | 305,215 | ||
1,061 | Schlumberger Ltd. | 46,228 | ||
5,722 | Transocean Ltd. (a) | 49,839 | ||
636,859 | ||||
Oil, Gas & Consumable Fuels – 86.9% | ||||
1,075 | Anadarko Petroleum Corp. | 48,891 | ||
5,398 | Antero Resources Corp. (a) | 47,664 | ||
14,271 | Apache Corp. | 494,633 | ||
17,472 | Cabot Oil & Gas Corp. | 456,019 | ||
6,111 | Callon Petroleum Co. (a) | 46,138 | ||
7,347 | Cheniere Energy, Inc. (a) | 502,241 | ||
77,343 | Chesapeake Energy Corp. (a) | 239,763 | ||
7,919 | Chevron Corp. | 975,462 | ||
650 | Cimarex Energy Co. | 45,435 | ||
425 | Concho Resources, Inc. | 47,158 | ||
6,979 | ConocoPhillips | 465,778 | ||
1,048 | Continental Resources, Inc. (a) | 46,919 | ||
1,321 | Delek US Holdings, Inc. | 48,111 | ||
16,045 | Devon Energy Corp. | 506,380 | ||
454 | Diamondback Energy, Inc. | 46,095 | ||
497 | EOG Resources, Inc. | 47,304 | ||
2,580 | EQT Corp. | 53,509 | ||
11,983 | Exxon Mobil Corp. | 968,226 | ||
808 | Hess Corp. | 48,666 | ||
913 | HollyFrontier Corp. | 44,984 | ||
49,426 | Kinder Morgan, Inc. | 989,014 | ||
20,787 | Marathon Oil Corp. | 347,351 | ||
754 | Marathon Petroleum Corp. | 45,127 | ||
16,384 | Murphy Oil Corp. | 480,051 | ||
4,182 | Noble Energy, Inc. | 103,421 | ||
8,363 | Oasis Petroleum, Inc. (a) | 50,513 | ||
7,158 | Occidental Petroleum Corp. | 473,860 | ||
7,368 | ONEOK, Inc. | 514,581 | ||
2,577 | Parsley Energy, Inc., Class A (a) | 49,736 | ||
1,505 | PBF Energy, Inc., Class A | 46,866 | ||
4,914 | Phillips 66 | 467,665 | ||
332 | Pioneer Natural Resources Co. | 50,557 | ||
9,332 | QEP Resources, Inc. (a) | 72,696 | ||
5,727 | Range Resources Corp. | 64,372 | ||
2,861 | SM Energy Co. | 50,039 | ||
111,938 | Southwestern Energy Co. (a) | 524,989 | ||
1,162 | Targa Resources Corp. | 48,281 | ||
2,163 | Valero Energy Corp. | 183,487 | ||
1,918 | Whiting Petroleum Corp. (a) | 50,137 | ||
29,353 | Williams (The) Cos., Inc. | 843,018 |
Shares | Description | Value | ||
Oil, Gas & Consumable Fuels (Continued) | ||||
3,788 | WPX Energy, Inc. (a) | $49,661 | ||
10,684,798 | ||||
Total Investments – 99.9% | 12,282,026 | |||
(Cost $12,960,535) (b) | ||||
Net Other Assets and Liabilities – 0.1% | 11,567 | |||
Net Assets – 100.0% | $12,293,593 |
(a) | Non-income producing security. |
(b) | Aggregate cost for federal income tax purposes was $13,025,434. As of March 31, 2019, the aggregate gross unrealized appreciation for all investments in which there was an excess of value over tax cost was $324,796 and the aggregate gross unrealized depreciation for all investments in which there was an excess of tax cost over value was $1,068,204. The net unrealized depreciation was $743,408. |
Total Value at 3/31/2019 | Level 1 Quoted Prices | Level 2 Significant Observable Inputs | Level 3 Significant Unobservable Inputs | |
Common Stocks* | $ 12,282,026 | $ 12,282,026 | $ — | $ — |
* | See Portfolio of Investments for industry breakout. |
Shares | Description | Value | ||
COMMON STOCKS – 100.0% | ||||
Biotechnology – 17.7% | ||||
1,223 | AbbVie, Inc. | $98,562 | ||
2,912 | Alkermes PLC (a) | 106,259 | ||
8,006 | Amicus Therapeutics, Inc. (a) | 108,882 | ||
1,179 | Blueprint Medicines Corp. (a) | 94,379 | ||
2,101 | Esperion Therapeutics, Inc. (a) | 84,355 | ||
3,660 | Heron Therapeutics, Inc. (a) | 89,450 | ||
6,803 | Ironwood Pharmaceuticals, Inc. (a) | 92,045 | ||
738 | Madrigal Pharmaceuticals, Inc. (a) | 92,442 | ||
608 | Sage Therapeutics, Inc. (a) | 96,702 | ||
4,786 | Vanda Pharmaceuticals, Inc. (a) | 88,062 | ||
951,138 | ||||
Health Care Equipment & Supplies – 8.4% | ||||
5,616 | Abbott Laboratories | 448,943 | ||
Pharmaceuticals – 73.9% | ||||
1,583 | Allergan PLC | 231,767 | ||
4,219 | Bristol-Myers Squibb Co. | 201,289 | ||
5,043 | Catalent, Inc. (a) | 204,695 | ||
7,769 | Corcept Therapeutics, Inc. (a) | 91,208 | ||
3,452 | Eli Lilly & Co. | 447,932 | ||
8,815 | Endo International PLC (a) | 70,784 | ||
15,027 | Horizon Pharma PLC (a) | 397,164 | ||
13,883 | Innoviva, Inc. (a) | 194,778 | ||
1,557 | Jazz Pharmaceuticals PLC (a) | 222,573 | ||
1,595 | Johnson & Johnson | 222,965 | ||
3,927 | Medicines (The) Co. (a) | 109,760 | ||
5,363 | Merck & Co., Inc. | 446,041 | ||
3,671 | Mylan N.V. (a) | 104,036 | ||
2,352 | Pacira Pharmaceuticals, Inc. (a) | 89,517 | ||
1,989 | Perrigo Co. PLC | 95,790 | ||
10,056 | Pfizer, Inc. | 427,078 | ||
2,372 | Supernus Pharmaceuticals, Inc. (a) | 83,115 | ||
2,313 | Zoetis, Inc. | 232,850 | ||
1,837 | Zogenix, Inc. (a) | 101,053 | ||
3,974,395 | ||||
Total Investments – 100.0% | 5,374,476 | |||
(Cost $5,299,886) (b) | ||||
Net Other Assets and Liabilities – 0.0% | 1,029 | |||
Net Assets – 100.0% | $5,375,505 |
(a) | Non-income producing security. |
(b) | Aggregate cost for federal income tax purposes was $5,369,855. As of March 31, 2019, the aggregate gross unrealized appreciation for all investments in which there was an excess of value over tax cost was $342,182 and the aggregate gross unrealized depreciation for all investments in which there was an excess of tax cost over value was $337,561. The net unrealized appreciation was $4,621. |
Total Value at 3/31/2019 | Level 1 Quoted Prices | Level 2 Significant Observable Inputs | Level 3 Significant Unobservable Inputs | |
Common Stocks* | $ 5,374,476 | $ 5,374,476 | $ — | $ — |
* | See Portfolio of Investments for industry breakout. |
Shares | Description | Value | ||
COMMON STOCKS – 99.7% | ||||
Commercial Services & Supplies – 0.6% | ||||
859 | Copart, Inc. (a) | $52,047 | ||
Diversified Consumer Services – 1.6% | ||||
3,923 | H&R Block, Inc. | 93,916 | ||
2,491 | Weight Watchers International, Inc. (a) | 50,194 | ||
144,110 | ||||
Entertainment – 0.6% | ||||
141 | Netflix, Inc. (a) | 50,275 | ||
Food & Staples Retailing – 22.8% | ||||
1,523 | Costco Wholesale Corp. | 368,779 | ||
21,069 | Kroger (The) Co. | 518,298 | ||
7,164 | Sysco Corp. | 478,269 | ||
5,019 | Walgreens Boots Alliance, Inc. | 317,552 | ||
3,610 | Walmart, Inc. | 352,083 | ||
2,034,981 | ||||
Health Care Providers & Services – 8.4% | ||||
3,611 | AmerisourceBergen Corp. | 287,147 | ||
6,576 | Cardinal Health, Inc. | 316,634 | ||
872 | CVS Health Corp. | 47,027 | ||
850 | Henry Schein, Inc. (a) | 51,093 | ||
396 | McKesson Corp. | 46,356 | ||
748,257 | ||||
Internet & Direct Marketing Retail – 5.5% | ||||
31 | Amazon.com, Inc. (a) | 55,203 | ||
1,357 | eBay, Inc. | 50,399 | ||
4,516 | Etsy, Inc. (a) | 303,566 | ||
618 | GrubHub, Inc. (a) | 42,932 | ||
536 | Stamps.com, Inc. (a) | 43,636 | ||
495,736 | ||||
Multiline Retail – 17.2% | ||||
3,016 | Dollar General Corp. | 359,809 | ||
523 | Dollar Tree, Inc. (a) | 54,936 | ||
5,291 | Kohl’s Corp. | 363,862 | ||
2,033 | Macy’s, Inc. | 48,853 | ||
1,066 | Nordstrom, Inc. | 47,309 | ||
571 | Ollie’s Bargain Outlet Holdings, Inc. (a) | 48,723 | ||
7,614 | Target Corp. | 611,100 | ||
1,534,592 | ||||
Specialty Retail – 43.0% | ||||
528 | Advance Auto Parts, Inc. | 90,040 | ||
2,471 | American Eagle Outfitters, Inc. | 54,782 | ||
616 | AutoZone, Inc. (a) | 630,858 | ||
11,148 | Bed Bath & Beyond, Inc. | 189,404 | ||
933 | Best Buy Co., Inc. | 66,299 |
Shares | Description | Value | ||
Specialty Retail (Continued) | ||||
409 | Burlington Stores, Inc. (a) | $64,082 | ||
812 | CarMax, Inc. (a) | 56,678 | ||
1,124 | Carvana Co. (a) | 65,259 | ||
12,136 | Dick’s Sporting Goods, Inc. | 446,726 | ||
419 | Five Below, Inc. (a) | 52,061 | ||
847 | Foot Locker, Inc. | 51,328 | ||
2,261 | Gap (The), Inc. | 59,193 | ||
1,930 | Home Depot (The), Inc. | 370,348 | ||
1,928 | L Brands, Inc. | 53,174 | ||
895 | Lowe’s Cos., Inc. | 97,976 | ||
732 | O’Reilly Automotive, Inc. (a) | 284,236 | ||
328 | RH (a) | 33,768 | ||
2,269 | Ross Stores, Inc. | 211,244 | ||
530 | Tiffany & Co. | 55,941 | ||
6,967 | TJX (The) Cos., Inc. | 370,714 | ||
2,837 | Tractor Supply Co. | 277,345 | ||
476 | Ulta Beauty, Inc. (a) | 165,995 | ||
1,634 | Urban Outfitters, Inc. (a) | 48,432 | ||
867 | Williams-Sonoma, Inc. | 48,786 | ||
3,844,669 | ||||
Total Investments – 99.7% | 8,904,667 | |||
(Cost $8,683,154) (b) | ||||
Net Other Assets and Liabilities – 0.3% | 29,540 | |||
Net Assets – 100.0% | $8,934,207 |
(a) | Non-income producing security. |
(b) | Aggregate cost for federal income tax purposes was $8,812,773. As of March 31, 2019, the aggregate gross unrealized appreciation for all investments in which there was an excess of value over tax cost was $450,627 and the aggregate gross unrealized depreciation for all investments in which there was an excess of tax cost over value was $358,733. The net unrealized appreciation was $91,894. |
Total Value at 3/31/2019 | Level 1 Quoted Prices | Level 2 Significant Observable Inputs | Level 3 Significant Unobservable Inputs | |
Common Stocks* | $ 8,904,667 | $ 8,904,667 | $ — | $ — |
* | See Portfolio of Investments for industry breakout. |
Shares | Description | Value | ||
COMMON STOCKS – 99.7% | ||||
Communications Equipment – 7.5% | ||||
34,166 | InterDigital, Inc. | $2,254,273 | ||
Semiconductors & Semiconductor Equipment – 92.2% | ||||
23,980 | Advanced Micro Devices, Inc. (a) | 611,970 | ||
22,274 | Analog Devices, Inc. | 2,344,784 | ||
14,717 | Applied Materials, Inc. | 583,676 | ||
8,652 | Broadcom, Inc. | 2,601,743 | ||
4,989 | Cabot Microelectronics Corp. | 558,568 | ||
14,061 | Cirrus Logic, Inc. (a) | 591,546 | ||
10,370 | Cree, Inc. (a) | 593,371 | ||
36,568 | Cypress Semiconductor Corp. | 545,595 | ||
15,971 | Entegris, Inc. | 570,005 | ||
13,055 | Inphi, Corp. (a) | 571,026 | ||
44,985 | Intel Corp. | 2,415,695 | ||
10,314 | KLA-Tencor Corp. | 1,231,595 | ||
6,765 | Lam Research Corp. | 1,211,003 | ||
28,283 | Marvell Technology Group Ltd. | 562,549 | ||
21,885 | Maxim Integrated Products, Inc. | 1,163,625 | ||
6,495 | Microchip Technology, Inc. | 538,825 | ||
13,803 | Micron Technology, Inc. (a) | 570,478 | ||
6,809 | MKS Instruments, Inc. | 633,577 | ||
4,207 | Monolithic Power Systems, Inc. | 570,006 | ||
3,658 | NVIDIA Corp. | 656,831 | ||
55,456 | ON Semiconductor Corp. (a) | 1,140,730 | ||
8,045 | Qorvo, Inc. (a) | 577,068 | ||
10,568 | QUALCOMM, Inc. | 602,693 | ||
10,252 | Semtech Corp. (a) | 521,929 | ||
6,964 | Silicon Laboratories, Inc. (a) | 563,109 | ||
14,587 | Skyworks Solutions, Inc. | 1,203,136 | ||
13,820 | Teradyne, Inc. | 550,589 | ||
11,261 | Texas Instruments, Inc. | 1,194,454 | ||
19,014 | Xilinx, Inc. | 2,410,785 | ||
27,890,961 | ||||
Total Investments – 99.7% | 30,145,234 | |||
(Cost $29,623,584) (b) | ||||
Net Other Assets and Liabilities – 0.3% | 96,297 | |||
Net Assets – 100.0% | $30,241,531 |
(a) | Non-income producing security. |
(b) | Aggregate cost for federal income tax purposes was $30,325,508. As of March 31, 2019, the aggregate gross unrealized appreciation for all investments in which there was an excess of value over tax cost was $1,067,599 and the aggregate gross unrealized depreciation for all investments in which there was an excess of tax cost over value was $1,247,873. The net unrealized depreciation was $180,274. |
Total Value at 3/31/2019 | Level 1 Quoted Prices | Level 2 Significant Observable Inputs | Level 3 Significant Unobservable Inputs | |
Common Stocks* | $ 30,145,234 | $ 30,145,234 | $ — | $ — |
* | See Portfolio of Investments for industry breakout. |
Shares | Description | Value | ||
COMMON STOCKS – 100.0% | ||||
Air Freight & Logistics – 6.9% | ||||
176 | CH Robinson Worldwide, Inc. | $15,310 | ||
212 | Expeditors International of Washington, Inc. | 16,091 | ||
88 | FedEx Corp. | 15,964 | ||
866 | United Parcel Service, Inc., Class B | 96,767 | ||
316 | XPO Logistics, Inc. (a) | 16,982 | ||
161,114 | ||||
Airlines – 24.6% | ||||
258 | Alaska Air Group, Inc. | 14,479 | ||
447 | American Airlines Group, Inc. | 14,197 | ||
1,926 | Delta Air Lines, Inc. | 99,478 | ||
5,718 | JetBlue Airways Corp. (a) | 93,546 | ||
1,704 | Southwest Airlines Co. | 88,455 | ||
1,698 | Spirit Airlines, Inc. (a) | 89,756 | ||
2,175 | United Continental Holdings, Inc. (a) | 173,522 | ||
573,433 | ||||
Auto Components – 8.5% | ||||
819 | Adient PLC | 10,614 | ||
392 | BorgWarner, Inc. | 15,057 | ||
4,827 | Goodyear Tire & Rubber (The) Co. | 87,610 | ||
628 | Lear Corp. | 85,226 | ||
198,507 | ||||
Automobiles – 13.1% | ||||
10,888 | Ford Motor Co. | 95,596 | ||
4,837 | General Motors Co. | 179,453 | ||
429 | Harley-Davidson, Inc. | 15,298 | ||
50 | Tesla, Inc. (a) | 13,993 | ||
304,340 | ||||
Distributors – 9.1% | ||||
1,756 | Genuine Parts Co. | 196,725 | ||
575 | LKQ Corp. (a) | 16,318 | ||
213,043 | ||||
Machinery – 3.9% | ||||
694 | WABCO Holdings, Inc. (a) | 91,490 | ||
Road & Rail – 33.9% | ||||
2,628 | CSX Corp. | 196,627 | ||
887 | JB Hunt Transport Services, Inc. | 89,844 | ||
879 | Kansas City Southern | 101,946 | ||
2,839 | Knight-Swift Transportation Holdings, Inc. | 92,779 | ||
1,065 | Norfolk Southern Corp. | 199,038 | ||
106 | Old Dominion Freight Line, Inc. | 15,305 |
Shares | Description | Value | ||
Road & Rail (Continued) | ||||
569 | Union Pacific Corp. | $95,137 | ||
790,676 | ||||
Total Investments – 100.0% | 2,332,603 | |||
(Cost $2,344,748) (b) | ||||
Net Other Assets and Liabilities – 0.0% | 660 | |||
Net Assets – 100.0% | $2,333,263 |
(a) | Non-income producing security. |
(b) | Aggregate cost for federal income tax purposes was $2,366,133. As of March 31, 2019, the aggregate gross unrealized appreciation for all investments in which there was an excess of value over tax cost was $135,261 and the aggregate gross unrealized depreciation for all investments in which there was an excess of tax cost over value was $168,791. The net unrealized depreciation was $33,530. |
Total Value at 3/31/2019 | Level 1 Quoted Prices | Level 2 Significant Observable Inputs | Level 3 Significant Unobservable Inputs | |
Common Stocks* | $ 2,332,603 | $ 2,332,603 | $ — | $ — |
* | See Portfolio of Investments for industry breakout. |
First Trust Nasdaq Bank ETF (FTXO) | First Trust Nasdaq Food & Beverage ETF (FTXG) | First Trust Nasdaq Oil & Gas ETF (FTXN) | |||
ASSETS: | |||||
Investments, at value | $ 168,028,389 | $ 2,000,725 | $ 12,282,026 | ||
Cash | 58,300 | 3,304 | 11,661 | ||
Receivables: | |||||
Dividends | 451,459 | 2,565 | 6,133 | ||
Dividend reclaims | — | — | — | ||
Total Assets | 168,538,148 | 2,006,594 | 12,299,820 | ||
LIABILITIES: | |||||
Due to custodian | — | — | — | ||
Payables: | |||||
Investment advisory fees | 90,757 | 986 | 6,227 | ||
Total Liabilities | 90,757 | 986 | 6,227 | ||
NET ASSETS | $168,447,391 | $2,005,608 | $12,293,593 | ||
NET ASSETS consist of: | |||||
Paid-in capital | $ 235,093,197 | $ 2,190,018 | $ 17,859,080 | ||
Par value | 69,000 | 1,000 | 6,500 | ||
Accumulated distributable earnings (loss) | (66,714,806) | (185,410) | (5,571,987) | ||
NET ASSETS | $168,447,391 | $2,005,608 | $12,293,593 | ||
NET ASSET VALUE,per share | $24.41 | $20.06 | $18.91 | ||
Number of shares outstanding (unlimited number of shares authorized, par value $0.01 per share) | 6,900,002 | 100,002 | 650,002 | ||
Investments, at cost | $191,532,779 | $1,880,934 | $12,960,535 |
First Trust Nasdaq Pharmaceuticals ETF (FTXH) | First Trust Nasdaq Retail ETF (FTXD) | First Trust Nasdaq Semiconductor ETF (FTXL) | First Trust Nasdaq Transportation ETF (FTXR) | |||
$ 5,374,476 | $ 8,904,667 | $ 30,145,234 | $ 2,332,603 | |||
192 | 18,037 | 96,051 | — | |||
3,042 | 15,670 | 15,353 | 2,110 | |||
286 | — | — | 79 | |||
5,377,996 | 8,938,374 | 30,256,638 | 2,334,792 | |||
— | — | — | 341 | |||
2,491 | 4,167 | 15,107 | 1,188 | |||
2,491 | 4,167 | 15,107 | 1,529 | |||
$ 5,375,505 | $ 8,934,207 | $ 30,241,531 | $ 2,333,263 | |||
$ 6,024,742 | $ 9,575,101 | $ 34,059,620 | $ 2,736,586 | |||
2,500 | 4,000 | 9,500 | 1,000 | |||
(651,737) | (644,894) | (3,827,589) | (404,323) | |||
$ 5,375,505 | $ 8,934,207 | $ 30,241,531 | $ 2,333,263 | |||
$21.50 | $22.34 | $31.83 | $23.33 | |||
250,002 | 400,002 | 950,002 | 100,002 | |||
$5,299,886 | $8,683,154 | $29,623,584 | $2,344,748 |
First Trust Nasdaq Bank ETF (FTXO) | First Trust Nasdaq Food & Beverage ETF (FTXG) | First Trust Nasdaq Oil & Gas ETF (FTXN) | ||||
INVESTMENT INCOME: | ||||||
Dividends | $ 19,178,858 | $ 23,901 | $ 457,092 | |||
Interest | 20,777 | 39 | 512 | |||
Foreign withholding tax | (13,099) | — | (94) | |||
Other | — | — | 76 | |||
Total investment income | 19,186,536 | 23,940 | 457,586 | |||
EXPENSES: | ||||||
Investment advisory fees | 4,745,581 | 6,685 | 120,153 | |||
Total expenses | 4,745,581 | 6,685 | 120,153 | |||
NET INVESTMENT INCOME (LOSS) | 14,440,955 | 17,255 | 337,433 | |||
NET REALIZED AND UNREALIZED GAIN (LOSS): | ||||||
Net realized gain (loss) on: | ||||||
Investments | (47,211,912) | (97,234) | (4,925,989) | |||
In-kind redemptions | 58,360,017 | — | (366,878) | |||
Net realized gain (loss) | 11,148,105 | (97,234) | (5,292,867) | |||
Net change in unrealized appreciation (depreciation) on investments | (123,008,249) | 166,354 | (926,753) | |||
NET REALIZED AND UNREALIZED GAIN (LOSS) | (111,860,144) | 69,120 | (6,219,620) | |||
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS | $(97,419,189) | $ 86,375 | $(5,882,187) |
First Trust Nasdaq Pharmaceuticals ETF (FTXH) | First Trust Nasdaq Retail ETF (FTXD) | First Trust Nasdaq Semiconductor ETF (FTXL) | First Trust Nasdaq Transportation ETF (FTXR) | ||||
$51,787 | $88,325 | $460,402 | $59,826 | ||||
75 | 100 | 461 | 62 | ||||
— | — | — | — | ||||
— | — | — | — | ||||
51,862 | 88,425 | 460,863 | 59,888 | ||||
24,225 | 26,392 | 199,845 | 18,190 | ||||
24,225 | 26,392 | 199,845 | 18,190 | ||||
27,637 | 62,033 | 261,018 | 41,698 | ||||
(572,363) | (828,345) | (4,295,807) | (250,369) | ||||
462,428 | 285,338 | 3,177,462 | 144,489 | ||||
(109,935) | (543,007) | (1,118,345) | (105,880) | ||||
146,896 | 225,610 | (1,466,467) | (4,821) | ||||
36,961 | (317,397) | (2,584,812) | (110,701) | ||||
$64,598 | $(255,364) | $(2,323,794) | $(69,003) |
First Trust Nasdaq Bank ETF (FTXO) | First Trust Nasdaq Food & Beverage ETF (FTXG) | ||||||
Year Ended 3/31/2019 | Year Ended 3/31/2018 | Year Ended 3/31/2019 | Year Ended 3/31/2018 | ||||
OPERATIONS: | |||||||
Net investment income (loss) | $ 14,440,955 | $ 16,564,334 | $ 17,255 | $ 46,736 | |||
Net realized gain (loss) | 11,148,105 | 52,973,032 | (97,234) | 45,510 | |||
Net change in unrealized appreciation (depreciation) | (123,008,249) | 89,072,276 | 166,354 | (160,886) | |||
Net increase (decrease) in net assets resulting from operations | (97,419,189) | 158,609,642 | 86,375 | (68,640) | |||
DISTRIBUTIONS TO SHAREHOLDERS FROM: | |||||||
Investment operations | (14,689,357) | (14,971) | |||||
Net investment income | (16,535,231) | (50,991) | |||||
Net realized gain | — | — | |||||
Return of capital | — | — | — | — | |||
Total distributions to shareholders | (14,689,357) | (16,535,231) | (14,971) | (50,991) | |||
SHAREHOLDER TRANSACTIONS: | |||||||
Proceeds from shares sold | 353,763,083 | 669,985,019 | 948,776 | 1,991,964 | |||
Cost of shares redeemed | (1,387,651,548) | (525,014,968) | — | (6,045,378) | |||
Net increase (decrease) in net assets resulting from shareholder transactions | (1,033,888,465) | 144,970,051 | 948,776 | (4,053,414) | |||
Total increase (decrease) in net assets | (1,145,997,011) | 287,044,462 | 1,020,180 | (4,173,045) | |||
NET ASSETS: | |||||||
Beginning of period | 1,314,444,402 | 1,027,399,940 | 985,428 | 5,158,473 | |||
End of period | $168,447,391 | $1,314,444,402 | $2,005,608 | $985,428 | |||
Accumulated net investment income (loss) at end of period | $671,122 | $307 | |||||
CHANGES IN SHARES OUTSTANDING: | |||||||
Shares outstanding, beginning of period | 44,550,002 | 39,600,002 | 50,002 | 250,002 | |||
Shares sold | 12,000,000 | 22,800,000 | 50,000 | 100,000 | |||
Shares redeemed | (49,650,000) | (17,850,000) | — | (300,000) | |||
Shares outstanding, end of period | 6,900,002 | 44,550,002 | 100,002 | 50,002 |
First Trust Nasdaq Oil & Gas ETF (FTXN) | First Trust Nasdaq Pharmaceuticals ETF (FTXH) | First Trust Nasdaq Retail ETF (FTXD) | ||||||||
Year Ended 3/31/2019 | Year Ended 3/31/2018 | Year Ended 3/31/2019 | Year Ended 3/31/2018 | Year Ended 3/31/2019 | Year Ended 3/31/2018 | |||||
$ 337,433 | $ 63,810 | $ 27,637 | $ 16,343 | $ 62,033 | $ 23,936 | |||||
(5,292,867) | (334,887) | (109,935) | 161,841 | (543,007) | 90,430 | |||||
(926,753) | 249,826 | 146,896 | 4,144 | 225,610 | (23,834) | |||||
(5,882,187) | (21,251) | 64,598 | 182,328 | (255,364) | 90,532 | |||||
(324,106) | (25,550) | (43,750) | ||||||||
(57,601) | (16,820) | (24,840) | ||||||||
— | (34,481) | — | ||||||||
— | (6,980) | — | — | — | — | |||||
(324,106) | (64,581) | (25,550) | (51,301) | (43,750) | (24,840) | |||||
40,494,178 | 3,884,097 | 7,921,843 | 3,162,766 | 14,840,691 | 1,060,685 | |||||
(25,985,088) | (1,870,330) | (4,699,347) | (3,162,395) | (6,650,460) | (2,051,302) | |||||
14,509,090 | 2,013,767 | 3,222,496 | 371 | 8,190,231 | (990,617) | |||||
8,302,797 | 1,927,935 | 3,261,544 | 131,398 | 7,891,117 | (924,925) | |||||
3,990,796 | 2,062,861 | 2,113,961 | 1,982,563 | 1,043,090 | 1,968,015 | |||||
$12,293,593 | $3,990,796 | $5,375,505 | $2,113,961 | $8,934,207 | $1,043,090 | |||||
$152 | $8 | $1,169 | ||||||||
200,002 | 100,002 | 100,002 | 100,002 | 50,002 | 100,002 | |||||
1,700,000 | 200,000 | 350,000 | 150,000 | 650,000 | 50,000 | |||||
(1,250,000) | (100,000) | (200,000) | (150,000) | (300,000) | (100,000) | |||||
650,002 | 200,002 | 250,002 | 100,002 | 400,002 | 50,002 |
First Trust Nasdaq Semiconductor ETF (FTXL) | First Trust Nasdaq Transportation ETF (FTXR) | ||||||
Year Ended 3/31/2019 | Year Ended 3/31/2018 | Year Ended 3/31/2019 | Year Ended 3/31/2018 | ||||
OPERATIONS: | |||||||
Net investment income (loss) | $ 261,018 | $ 140,548 | $ 41,698 | $ 38,537 | |||
Net realized gain (loss) | (1,118,345) | 5,002,026 | (105,880) | 396,767 | |||
Net change in unrealized appreciation (depreciation) | (1,466,467) | 1,002,287 | (4,821) | (58,729) | |||
Net increase (decrease) in net assets resulting from operations | (2,323,794) | 6,144,861 | (69,003) | 376,575 | |||
DISTRIBUTIONS TO SHAREHOLDERS FROM: | |||||||
Investment operations | (228,505) | (40,176) | |||||
Net investment income | (138,170) | (39,390) | |||||
Net realized gain | — | — | |||||
Return of capital | — | — | — | — | |||
Total distributions to shareholders | (228,505) | (138,170) | (40,176) | (39,390) | |||
SHAREHOLDER TRANSACTIONS: | |||||||
Proceeds from shares sold | 19,028,462 | 49,628,748 | — | 4,902,459 | |||
Cost of shares redeemed | (33,481,492) | (23,413,057) | (1,297,832) | (3,777,128) | |||
Net increase (decrease) in net assets resulting from shareholder transactions | (14,453,030) | 26,215,691 | (1,297,832) | 1,125,331 | |||
Total increase (decrease) in net assets | (17,005,329) | 32,222,382 | (1,407,011) | 1,462,516 | |||
NET ASSETS: | |||||||
Beginning of period | 47,246,860 | 15,024,478 | 3,740,274 | 2,277,758 | |||
End of period | $30,241,531 | $47,246,860 | $2,333,263 | $3,740,274 | |||
Accumulated net investment income (loss) at end of period | $5,014 | $870 | |||||
CHANGES IN SHARES OUTSTANDING: | |||||||
Shares outstanding, beginning of period | 1,450,002 | 600,002 | 150,002 | 100,002 | |||
Shares sold | 600,000 | 1,600,000 | — | 200,000 | |||
Shares redeemed | (1,100,000) | (750,000) | (50,000) | (150,000) | |||
Shares outstanding, end of period | 950,002 | 1,450,002 | 100,002 | 150,002 |
Year Ended March 31, | Period Ended 3/31/2017 (a) | ||||
2019 | 2018 | ||||
Net asset value, beginning of period | $ 29.50 | $ 25.94 | $ 20.01 | ||
Income from investment operations: | |||||
Net investment income (loss) | 0.84 | 0.40 | 0.07 | ||
Net realized and unrealized gain (loss) | (5.14) | 3.56 | 5.91 | ||
Total from investment operations | (4.30) | 3.96 | 5.98 | ||
Distributions paid to shareholders from: | |||||
Net investment income | (0.79) | (0.40) | (0.05) | ||
Net asset value, end of period | $24.41 | $29.50 | $25.94 | ||
Total return (b) | (14.49)% | 15.35% | 29.89% | ||
Ratios to average net assets/supplemental data: | |||||
Net assets, end of period (in 000’s) | $ 168,447 | $ 1,314,444 | $ 1,027,400 | ||
Ratio of total expenses to average net assets | 0.60% | 0.60% | 0.60% (c) | ||
Ratio of net investment income (loss) to average net assets | 1.83% | 1.47% | 4.05% (c) | ||
Portfolio turnover rate (d) | 87% | 39% | 7% |
(a) | Inception date is September 20, 2016, which is consistent with the commencement of investment operations and is the date the initial creation units were established. |
(b) | Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns presented do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is calculated for the time period presented and is not annualized for periods of less than a year. |
(c) | Annualized. |
(d) | Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities received or delivered from processing creations or redemptions and in-kind transactions. |
Year Ended March 31, | Period Ended 3/31/2017 (a) | ||||
2019 | 2018 | ||||
Net asset value, beginning of period | $ 19.71 | $ 20.63 | $ 19.96 | ||
Income from investment operations: | |||||
Net investment income (loss) | 0.27 | 0.35 | 0.14 | ||
Net realized and unrealized gain (loss) | 0.33 | (0.95) | 0.64 | ||
Total from investment operations | 0.60 | (0.60) | 0.78 | ||
Distributions paid to shareholders from: | |||||
Net investment income | (0.25) | (0.32) | (0.11) | ||
Net asset value, end of period | $20.06 | $19.71 | $20.63 | ||
Total return (b) | 3.13% | (2.96)% | 3.91% | ||
Ratios to average net assets/supplemental data: | |||||
Net assets, end of period (in 000’s) | $ 2,006 | $ 985 | $ 5,158 | ||
Ratio of total expenses to average net assets | 0.60% | 0.60% | 0.60% (c) | ||
Ratio of net investment income (loss) to average net assets | 1.55% | 1.53% | 1.58% (c) | ||
Portfolio turnover rate (d) | 108% | 76% | 54% |
(a) | Inception date is September 20, 2016, which is consistent with the commencement of investment operations and is the date the initial creation units were established. |
(b) | Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns presented do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is calculated for the time period presented and is not annualized for periods of less than a year. |
(c) | Annualized. |
(d) | Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities received or delivered from processing creations or redemptions and in-kind transactions. |
Year Ended March 31, | Period Ended 3/31/2017 (a) | ||||
2019 | 2018 | ||||
Net asset value, beginning of period | $ 19.95 | $ 20.63 | $ 19.84 | ||
Income from investment operations: | |||||
Net investment income (loss) | 0.41 | 0.36 | 0.14 | ||
Net realized and unrealized gain (loss) | (1.06) | (0.67) | 0.80 | ||
Total from investment operations | (0.65) | (0.31) | 0.94 | ||
Distributions paid to shareholders from: | |||||
Net investment income | (0.39) | (0.33) | (0.15) | ||
Return of capital | — | (0.04) | — | ||
Total distributions | (0.39) | (0.37) | (0.15) | ||
Net asset value, end of period | $18.91 | $19.95 | $20.63 | ||
Total return (b) | (3.27)% | (1.47)% | 4.75% | ||
Ratios to average net assets/supplemental data: | |||||
Net assets, end of period (in 000’s) | $ 12,294 | $ 3,991 | $ 2,063 | ||
Ratio of total expenses to average net assets | 0.60% | 0.60% | 0.61% (c) (d) | ||
Ratio of net investment income (loss) to average net assets | 1.69% | 1.96% | 1.30% (c) | ||
Portfolio turnover rate (e) | 126% | 92% | 58% |
(a) | Inception date is September 20, 2016, which is consistent with the commencement of investment operations and is the date the initial creation units were established. |
(b) | Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns presented do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is calculated for the time period presented and is not annualized for periods of less than a year. |
(c) | Annualized. |
(d) | Includes excise tax. If this excise tax was not included, the expense ratio would have been 0.60%. |
(e) | Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities received or delivered from processing creations or redemptions and in-kind transactions. |
Year Ended March 31, | Period Ended 3/31/2017 (a) | ||||
2019 | 2018 | ||||
Net asset value, beginning of period | $ 21.14 | $ 19.83 | $ 20.12 | ||
Income from investment operations: | |||||
Net investment income (loss) | 0.13 | 0.17 | 0.06 | ||
Net realized and unrealized gain (loss) | 0.35 | 1.65 | (0.28) | ||
Total from investment operations | 0.48 | 1.82 | (0.22) | ||
Distributions paid to shareholders from: | |||||
Net investment income | (0.12) | (0.17) | (0.06) | ||
Net realized gain | — | (0.34) | (0.01) | ||
Total distributions | (0.12) | (0.51) | (0.07) | ||
Net asset value, end of period | $21.50 | $21.14 | $19.83 | ||
Total return (b) | 2.30% | 9.32% | (1.10)% | ||
Ratios to average net assets/supplemental data: | |||||
Net assets, end of period (in 000’s) | $ 5,376 | $ 2,114 | $ 1,983 | ||
Ratio of total expenses to average net assets | 0.60% | 0.60% | 0.60% (c) | ||
Ratio of net investment income (loss) to average net assets | 0.69% | 0.80% | 0.64% (c) | ||
Portfolio turnover rate (d) | 107% | 70% | 48% |
(a) | Inception date is September 20, 2016, which is consistent with the commencement of investment operations and is the date the initial creation units were established. |
(b) | Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns presented do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is calculated for the time period presented and is not annualized for periods of less than a year. |
(c) | Annualized. |
(d) | Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities received or delivered from processing creations or redemptions and in-kind transactions. |
Year Ended March 31, | Period Ended 3/31/2017 (a) | ||||
2019 | 2018 | ||||
Net asset value, beginning of period | $ 20.86 | $ 19.68 | $ 19.90 | ||
Income from investment operations: | |||||
Net investment income (loss) | 0.21 | 0.31 | 0.15 | ||
Net realized and unrealized gain (loss) | 1.45 | 1.18 | (0.24) | ||
Total from investment operations | 1.66 | 1.49 | (0.09) | ||
Distributions paid to shareholders from: | |||||
Net investment income | (0.18) | (0.31) | (0.13) | ||
Net asset value, end of period | $22.34 | $20.86 | $19.68 | ||
Total return (b) | 7.98% | 7.63% | (0.45)% | ||
Ratios to average net assets/supplemental data: | |||||
Net assets, end of period (in 000’s) | $ 8,934 | $ 1,043 | $ 1,968 | ||
Ratio of total expenses to average net assets | 0.60% | 0.60% | 0.61% (c) (d) | ||
Ratio of net investment income (loss) to average net assets | 1.41% | 1.54% | 1.44% (c) | ||
Portfolio turnover rate (e) | 127% | 126% | 65% |
(a) | Inception date is September 20, 2016, which is consistent with the commencement of investment operations and is the date the initial creation units were established. |
(b) | Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns presented do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is calculated for the time period presented and is not annualized for periods of less than a year. |
(c) | Annualized. |
(d) | Includes excise tax. If this excise tax was not included, the expense ratio would have been 0.60%. |
(e) | Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities received or delivered from processing creations or redemptions and in-kind transactions. |
Year Ended March 31, | Period Ended 3/31/2017 (a) | ||||
2019 | 2018 | ||||
Net asset value, beginning of period | $ 32.58 | $ 25.04 | $ 19.93 | ||
Income from investment operations: | |||||
Net investment income (loss) | 0.25 | 0.14 | 0.05 | ||
Net realized and unrealized gain (loss) | (0.79) | 7.54 | 5.11 | ||
Total from investment operations | (0.54) | 7.68 | 5.16 | ||
Distributions paid to shareholders from: | |||||
Net investment income | (0.21) | (0.14) | (0.05) | ||
Net realized gain | — | — | (0.00) (b) | ||
Total distributions | (0.21) | (0.14) | (0.05) | ||
Net asset value, end of period | $31.83 | $32.58 | $25.04 | ||
Total return (c) | (1.62)% | 30.77% | 25.92% | ||
Ratios to average net assets/supplemental data: | |||||
Net assets, end of period (in 000’s) | $ 30,242 | $ 47,247 | $ 15,024 | ||
Ratio of total expenses to average net assets | 0.60% | 0.60% | 0.60% (d) | ||
Ratio of net investment income (loss) to average net assets | 0.78% | 0.55% | 0.66% (d) | ||
Portfolio turnover rate (e) | 94% | 59% | 58% |
(a) | Inception date is September 20, 2016, which is consistent with the commencement of investment operations and is the date the initial creation units were established. |
(b) | Amount is less than $0.01. |
(c) | Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns presented do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is calculated for the time period presented and is not annualized for periods of less than a year. |
(d) | Annualized. |
(e) | Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities received or delivered from processing creations or redemptions and in-kind transactions. |
Year Ended March 31, | Period Ended 3/31/2017 (a) | ||||
2019 | 2018 | ||||
Net asset value, beginning of period | $ 24.93 | $ 22.78 | $ 19.94 | ||
Income from investment operations: | |||||
Net investment income (loss) | 0.35 | 0.32 | 0.14 | ||
Net realized and unrealized gain (loss) | (1.62) | 2.16 | 2.84 | ||
Total from investment operations | (1.27) | 2.48 | 2.98 | ||
Distributions paid to shareholders from: | |||||
Net investment income | (0.33) | (0.33) | (0.14) | ||
Net realized gain | — | — | (0.00) (b) | ||
Total distributions | (0.33) | (0.33) | (0.14) | ||
Net asset value, end of period | $23.33 | $24.93 | $22.78 | ||
Total return (c) | (5.11)% | 10.89% | 14.97% | ||
Ratios to average net assets/supplemental data: | |||||
Net assets, end of period (in 000’s) | $ 2,333 | $ 3,740 | $ 2,278 | ||
Ratio of total expenses to average net assets | 0.60% | 0.60% | 0.61% (d) (e) | ||
Ratio of net investment income (loss) to average net assets | 1.38% | 1.27% | 1.22% (d) | ||
Portfolio turnover rate (f) | 108% | 78% | 28% |
(a) | Inception date is September 20, 2016, which is consistent with the commencement of investment operations and is the date the initial creation units were established. |
(b) | Amount is less than $0.01. |
(c) | Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns presented do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is calculated for the time period presented and is not annualized for periods of less than a year. |
(d) | Annualized. |
(e) | Includes excise tax. If this excise tax was not included, the expense ratio would have been 0.60%. |
(f) | Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities received or delivered from processing creations or redemptions and in-kind transactions. |
Fund | Index |
First Trust Nasdaq Bank ETF | Nasdaq US Smart Banks Index |
First Trust Nasdaq Food & Beverage ETF | Nasdaq US Smart Food & Beverage Index |
First Trust Nasdaq Oil & Gas ETF | Nasdaq US Smart Oil & Gas Index |
First Trust Nasdaq Pharmaceuticals ETF | Nasdaq US Smart Pharmaceuticals Index |
First Trust Nasdaq Retail ETF | Nasdaq US Smart Retail Index |
First Trust Nasdaq Semiconductor ETF | Nasdaq US Smart Semiconductor Index |
First Trust Nasdaq Transportation ETF | Nasdaq US Smart Transportation Index |
1) | the type of security; |
2) | the size of the holding; |
3) | the initial cost of the security; |
4) | transactions in comparable securities; |
5) | price quotes from dealers and/or third-party pricing services; |
6) | relationships among various securities; |
7) | information obtained by contacting the issuer, analysts, or the appropriate stock exchange; |
8) | an analysis of the issuer’s financial statements; and |
9) | the existence of merger proposals or tender offers that might affect the value of the security. |
• | Level 1 – Level 1 inputs are quoted prices in active markets for identical investments. An active market is a market in which transactions for the investment occur with sufficient frequency and volume to provide pricing information on an ongoing basis. |
• | Level 2 – Level 2 inputs are observable inputs, either directly or indirectly, and include the following: |
o | Quoted prices for similar investments in active markets. |
o | Quoted prices for identical or similar investments in markets that are non-active. A non-active market is a market where there are few transactions for the investment, the prices are not current, or price quotations vary substantially either over time or among market makers, or in which little information is released publicly. |
o | Inputs other than quoted prices that are observable for the investment (for example, interest rates and yield curves observable at commonly quoted intervals, volatilities, prepayment speeds, loss severities, credit risks, and default rates). |
o | Inputs that are derived principally from or corroborated by observable market data by correlation or other means. |
• | Level 3 – Level 3 inputs are unobservable inputs. Unobservable inputs may reflect the reporting entity’s own assumptions about the assumptions that market participants would use in pricing the investment. |
Distributions paid from Ordinary Income | Distributions paid from Capital Gains | Distributions paid from Return of Capital | |||
First Trust Nasdaq Bank ETF | $ 14,689,357 | $ — | $ — | ||
First Trust Nasdaq Food & Beverage ETF | 14,971 | — | — | ||
First Trust Nasdaq Oil & Gas ETF | 324,106 | — | — | ||
First Trust Nasdaq Pharmaceuticals ETF | 25,550 | — | — | ||
First Trust Nasdaq Retail ETF | 43,750 | — | — | ||
First Trust Nasdaq Semiconductor ETF | 228,505 | — | — | ||
First Trust Nasdaq Transportation ETF | 40,176 | — | — |
Distributions paid from Ordinary Income | Distributions paid from Capital Gains | Distributions paid from Return of Capital | |||
First Trust Nasdaq Bank ETF | $ 16,535,231 | $ — | $ — | ||
First Trust Nasdaq Food & Beverage ETF | 50,991 | — | — | ||
First Trust Nasdaq Oil & Gas ETF | 57,601 | — | 6,980 | ||
First Trust Nasdaq Pharmaceuticals ETF | 51,301 | — | — | ||
First Trust Nasdaq Retail ETF | 24,840 | — | — | ||
First Trust Nasdaq Semiconductor ETF | 138,170 | — | — | ||
First Trust Nasdaq Transportation ETF | 39,390 | — | — |
Undistributed Ordinary Income | Accumulated Capital and Other Gain (Loss) | Net Unrealized Appreciation (Depreciation) | |||
First Trust Nasdaq Bank ETF | $ 422,720 | $ (41,712,279) | $ (25,425,247) | ||
First Trust Nasdaq Food & Beverage ETF | 2,284 | (303,974) | 116,280 | ||
First Trust Nasdaq Oil & Gas ETF | 5,879 | (4,834,458) | (743,408) | ||
First Trust Nasdaq Pharmaceuticals ETF | 2,095 | (658,453) | 4,621 | ||
First Trust Nasdaq Retail ETF | 19,452 | (756,240) | 91,894 | ||
First Trust Nasdaq Semiconductor ETF | 32,513 | (3,679,828) | (180,274) | ||
First Trust Nasdaq Transportation ETF | 82 | (370,875) | (33,530) |
Capital Loss Available | |
First Trust Nasdaq Bank ETF | $ 41,712,279 |
First Trust Nasdaq Food & Beverage ETF | 303,974 |
First Trust Nasdaq Oil & Gas ETF | 4,834,458 |
First Trust Nasdaq Pharmaceuticals ETF | 658,453 |
First Trust Nasdaq Retail ETF | 756,240 |
First Trust Nasdaq Semiconductor ETF | 3,679,828 |
First Trust Nasdaq Transportation ETF | 370,875 |
Accumulated Net Investment Income (Loss) | Accumulated Net Realized Gain (Loss) on Investments | Paid-in Capital | |||
First Trust Nasdaq Bank ETF | $ — | $ (51,221,986) | $ 51,221,986 | ||
First Trust Nasdaq Food & Beverage ETF | (307) | 307 | — | ||
First Trust Nasdaq Oil & Gas ETF | (6,612) | 872,095 | (865,483) | ||
First Trust Nasdaq Pharmaceuticals ETF | — | (357,075) | 357,075 | ||
First Trust Nasdaq Retail ETF | — | (121,325) | 121,325 | ||
First Trust Nasdaq Semiconductor ETF | (5,014) | (2,636,562) | 2,641,576 | ||
First Trust Nasdaq Transportation ETF | (2,310) | (130,224) | 132,534 |
Purchases | Sales | ||
First Trust Nasdaq Bank ETF | $ 663,467,537 | $ 664,647,119 | |
First Trust Nasdaq Food & Beverage ETF | 1,212,830 | 1,210,972 | |
First Trust Nasdaq Oil & Gas ETF | 24,387,047 | 24,357,477 | |
First Trust Nasdaq Pharmaceuticals ETF | 4,179,875 | 4,194,605 | |
First Trust Nasdaq Retail ETF | 5,658,272 | 5,677,916 | |
First Trust Nasdaq Semiconductor ETF | 31,764,728 | 31,832,904 | |
First Trust Nasdaq Transportation ETF | 3,257,730 | 3,249,243 | |
Purchases | Sales | ||
First Trust Nasdaq Bank ETF | $ 353,139,822 | $ 1,385,343,586 | |
First Trust Nasdaq Food & Beverage ETF | 946,827 | — | |
First Trust Nasdaq Oil & Gas ETF | 40,390,823 | 25,906,282 | |
First Trust Nasdaq Pharmaceuticals ETF | 7,908,169 | 4,669,415 | |
First Trust Nasdaq Retail ETF | 14,807,314 | 6,606,925 | |
First Trust Nasdaq Semiconductor ETF | 18,997,932 | 33,443,040 | |
First Trust Nasdaq Transportation ETF | — | 1,296,737 |
Dividends Received Deduction | |
First Trust Nasdaq Bank ETF | 100.00% |
First Trust Nasdaq Food & Beverage ETF | 100.00% |
First Trust Nasdaq Oil & Gas ETF | 100.00% |
First Trust Nasdaq Pharmaceuticals ETF | 100.00% |
First Trust Nasdaq Retail ETF | 100.00% |
First Trust Nasdaq Semiconductor ETF | 100.00% |
First Trust Nasdaq Transportation ETF | 100.00% |
Qualified Dividend Income | |
First Trust Nasdaq Bank ETF | 100.00% |
First Trust Nasdaq Food & Beverage ETF | 100.00% |
First Trust Nasdaq Oil & Gas ETF | 100.00% |
First Trust Nasdaq Pharmaceuticals ETF | 100.00% |
First Trust Nasdaq Retail ETF | 100.00% |
First Trust Nasdaq Semiconductor ETF | 100.00% |
First Trust Nasdaq Transportation ETF | 100.00% |
NOT FDIC INSURED | NOT BANK GUARANTEED | MAY LOSE VALUE |
Name, Year of Birth and Position with the Trust | Term of Office and Year First Elected or Appointed | Principal Occupations During Past 5 Years | Number of Portfolios in the First Trust Fund Complex Overseen by Trustee | Other Trusteeships or Directorships Held by Trustee During Past 5 Years |
INDEPENDENT TRUSTEES | ||||
Richard E. Erickson, Trustee (1951) | • Indefinite Term • Since Inception | Physician; Officer, Wheaton Orthopedics; Limited Partner, Gundersen Real Estate Limited Partnership (June 1992 to December 2016); Member, Sportsmed LLC (April 2007 to November 2015) | 163 | None |
Thomas R. Kadlec, Trustee (1957) | • Indefinite Term • Since Inception | President, ADM Investor Services, Inc. (Futures Commission Merchant) | 163 | Director of ADM Investor Services, Inc., ADM Investor Services International, Futures Industry Association, and National Futures Association |
Robert F. Keith, Trustee (1956) | • Indefinite Term • Since Inception | President, Hibs Enterprises (Financial and Management Consulting) | 163 | Director of Trust Company of Illinois |
Niel B. Nielson, Trustee (1954) | • Indefinite Term • Since Inception | Senior Advisor (August 2018 to Present), Managing Director and Chief Operating Officer (January 2015 to August 2018), Pelita Harapan Educational Foundation (Educational Products and Services); President and Chief Executive Officer (June 2012 to September 2014), Servant Interactive LLC (Educational Products and Services); President and Chief Executive Officer (June 2012 to September 2014), Dew Learning LLC (Educational Products and Services) | 163 | Director of Covenant Transport, Inc. (May 2003 to May 2014) |
INTERESTED TRUSTEE | ||||
James A. Bowen(1), Trustee and Chairman of the Board (1955) | • Indefinite Term • Since Inception | Chief Executive Officer, First Trust Advisors L.P. and First Trust Portfolios L.P.; Chairman of the Board of Directors, BondWave LLC (Software Development Company) and Stonebridge Advisors LLC (Investment Advisor) | 163 | None |
(1) | Mr. Bowen is deemed an “interested person” of the Trust due to his position as CEO of First Trust Advisors L.P., investment advisor of the Trust. |
Name and Year of Birth | Position and Offices with Trust | Term of Office and Length of Service | Principal Occupations During Past 5 Years |
OFFICERS(2) | |||
James M. Dykas (1966) | President and Chief Executive Officer | • Indefinite Term • Since January 2016 | Managing Director and Chief Financial Officer (January 2016 to Present), Controller (January 2011 to January 2016), Senior Vice President (April 2007 to January 2016), First Trust Advisors L.P. and First Trust Portfolios L.P.; Chief Financial Officer (January 2016 to Present), BondWave LLC (Software Development Company) and Stonebridge Advisors LLC (Investment Advisor) |
Donald P. Swade (1972) | Treasurer, Chief Financial Officer and Chief Accounting Officer | • Indefinite Term • Since January 2016 | Senior Vice President (July 2016 to Present), Vice President (April 2012 to July 2016), First Trust Advisors L.P. and First Trust Portfolios L.P. |
W. Scott Jardine (1960) | Secretary and Chief Legal Officer | • Indefinite Term • Since Inception | General Counsel, First Trust Advisors L.P. and First Trust Portfolios L.P.; Secretary and General Counsel, BondWave LLC; Secretary, Stonebridge Advisors LLC |
Daniel J. Lindquist (1970) | Vice President | • Indefinite Term • Since Inception | Managing Director, First Trust Advisors L.P. and First Trust Portfolios L.P. |
Kristi A. Maher (1966) | Chief Compliance Officer and Assistant Secretary | • Indefinite Term • Since Inception | Deputy General Counsel, First Trust Advisors L.P. and First Trust Portfolios L.P. |
Roger F. Testin (1966) | Vice President | • Indefinite Term • Since Inception | Senior Vice President, First Trust Advisors L.P. and First Trust Portfolios L.P. |
Stan Ueland (1970) | Vice President | • Indefinite Term • Since Inception | Senior Vice President, First Trust Advisors L.P. and First Trust Portfolios L.P |
(2) | The term “officer” means the president, vice president, secretary, treasurer, controller or any other officer who performs a policy making function. |
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• | We may release information we have about you if you direct us to do so, if we are compelled by law to do so, or in other legally limited circumstances (for example to protect your account from fraud). |
FUND ACCOUNTANT &
TRANSFER AGENT
PUBLIC ACCOUNTING FIRM
Developed International Equity Select ETF (RNDM)
Emerging Markets Equity Select ETF (RNEM)
Large Cap US Equity Select ETF (RNLC)
Mid Cap US Equity Select ETF (RNMC)
Small Cap US Equity Select ETF (RNSC)
US Equity Dividend Select ETF (RNDV)
For the Year Ended
March 31, 2019
2 | |
3 | |
Fund Performance Overview | |
4 | |
6 | |
8 | |
10 | |
12 | |
14 | |
16 | |
17 | |
Portfolio of Investments | |
18 | |
25 | |
30 | |
36 | |
42 | |
48 | |
54 | |
56 | |
58 | |
60 | |
66 | |
74 | |
75 | |
78 | |
80 |
Performance | |||
Average Annual Total Returns | Cumulative Total Returns | ||
1 Year Ended 3/31/19 | Inception (6/20/17) to 3/31/19 | Inception (6/20/17) to 3/31/19 | |
Fund Performance | |||
NAV | -1.71% | 1.44% | 2.58% |
Market Price | -1.81% | 1.65% | 2.95% |
Index Performance | |||
Nasdaq Riskalyze Developed Markets Index | -0.07% | 2.72% | 4.88% |
NASDAQ Developed Markets Ex-US Large Mid Cap Index | -3.31% | 2.69% | 4.83% |
MSCI World ex USA Index | -2.99% | 2.52% | 4.52% |
Sector Allocation | % of Total Investments |
Financials | 16.8% |
Industrials | 14.3 |
Real Estate | 13.4 |
Consumer Staples | 13.2 |
Consumer Discretionary | 11.2 |
Health Care | 9.3 |
Information Technology | 5.6 |
Communication Services | 5.5 |
Materials | 5.1 |
Utilities | 3.2 |
Energy | 2.4 |
Total | 100.0% |
Top Ten Holdings | % of Total Investments |
Diageo PLC | 3.3% |
Mazda Motor Corp. | 2.9 |
Nissan Motor Co., Ltd. | 2.7 |
Roche Holding AG | 1.9 |
Novartis AG | 1.8 |
AstraZeneca PLC | 1.6 |
Croda International PLC | 1.6 |
NTT DOCOMO, Inc. | 1.5 |
SAP SE | 1.1 |
NEC Corp. | 1.0 |
Total | 19.4% |
Performance figures assume reinvestment of all distributions and do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. An index is a statistical composite that tracks a specified financial market or sector. Unlike the Fund, the indices do not actually hold a portfolio of securities and therefore do not incur the expenses incurred by the Fund. These expenses negatively impact the performance of the Fund. The Fund’s past performance does not predict future performance.
Number of Days Bid/Ask Midpoint At/Above NAV | ||||
For the Period | 0.00%–0.49% | 0.50%–0.99% | 1.00%–1.99% | >=2.00% |
6/21/17 – 3/31/18 | 134 | 51 | 0 | 0 |
4/1/18 – 3/31/19 | 180 | 13 | 0 | 0 |
Number of Days Bid/Ask Midpoint Below NAV | ||||
For the Period | 0.00%–0.49% | 0.50%–0.99% | 1.00%–1.99% | >=2.00% |
6/21/17 – 3/31/18 | 10 | 0 | 0 | 0 |
4/1/18 – 3/31/19 | 58 | 0 | 0 | 0 |
Performance | |||
Average Annual Total Returns | Cumulative Total Returns | ||
1 Year Ended 3/31/19 | Inception (6/20/17) to 3/31/19 | Inception (6/20/17) to 3/31/19 | |
Fund Performance | |||
NAV | -4.48% | 4.50% | 8.15% |
Market Price | -4.60% | 4.82% | 8.74% |
Index Performance | |||
Nasdaq Riskalyze Emerging Markets Index | -1.95% | 6.49% | 11.83% |
NASDAQ Emerging Markets Large Mid Cap Index | -3.44% | 7.81% | 14.30% |
MSCI Emerging Markets Index | -7.28% | 5.17% | 9.39% |
Sector Allocation | % of Total Investments |
Financials | 34.7% |
Information Technology | 13.2 |
Energy | 11.0 |
Consumer Staples | 8.6 |
Materials | 7.4 |
Industrials | 7.2 |
Communication Services | 5.7 |
Consumer Discretionary | 5.0 |
Utilities | 3.3 |
Real Estate | 2.9 |
Health Care | 1.0 |
Total | 100.0% |
Top Ten Holdings | % of Total Investments |
Lenovo Group Ltd. | 3.6% |
Taiwan High Speed Rail Corp. | 2.9 |
WPG Holdings Ltd. | 2.5 |
Reliance Industries Ltd. | 2.3 |
Inventec Corp. | 2.2 |
Asustek Computer, Inc. | 2.2 |
Cosan S.A. | 1.8 |
China Petroleum & Chemical Corp., Class H | 1.8 |
RBL Bank Ltd. | 1.6 |
Kotak Mahindra Bank Ltd. | 1.4 |
Total | 22.3% |
Performance figures assume reinvestment of all distributions and do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. An index is a statistical composite that tracks a specified financial market or sector. Unlike the Fund, the indices do not actually hold a portfolio of securities and therefore do not incur the expenses incurred by the Fund. These expenses negatively impact the performance of the Fund. The Fund’s past performance does not predict future performance.
Number of Days Bid/Ask Midpoint At/Above NAV | ||||
For the Period | 0.00%–0.49% | 0.50%–0.99% | 1.00%–1.99% | >=2.00% |
6/21/17 – 3/31/18 | 110 | 50 | 5 | 0 |
4/1/18 – 3/31/19 | 67 | 97 | 40 | 0 |
Number of Days Bid/Ask Midpoint Below NAV | ||||
For the Period | 0.00%–0.49% | 0.50%–0.99% | 1.00%–1.99% | >=2.00% |
6/21/17 – 3/31/18 | 23 | 5 | 2 | 0 |
4/1/18 – 3/31/19 | 37 | 9 | 1 | 0 |
Performance | |||
Average Annual Total Returns | Cumulative Total Returns | ||
1 Year Ended 3/31/19 | Inception (6/20/17) to 3/31/19 | Inception (6/20/17) to 3/31/19 | |
Fund Performance | |||
NAV | 4.45% | 7.87% | 14.41% |
Market Price | 4.58% | 8.00% | 14.67% |
Index Performance | |||
Nasdaq Riskalyze US Large Cap Index | 5.07% | 8.50% | 15.62% |
Nasdaq US 500 Large Cap Index(1) | 9.34% | 11.04% | 20.46% |
S&P 500® Index(1) | 9.50% | 11.03% | 20.45% |
(1) | Beginning with this annual report and consistent with the Fund’s return objective, the Nasdaq US 500 Large Cap Index will be used as the Fund’s benchmark for performance attribution purposes. The S&P 500® Index was previously used as the Fund’s benchmark for performance purposes. The Nasdaq Riskalyze US Large Cap Index, the Fund’s underlying index, is derived from the Nasdaq US 500 Large Cap Index. As such, the Advisor has determined to measure the Fund’s relative outperformance and underperformance against the parent index, Nasdaq US 500 Large Cap Index, going forward. The S&P 500® Index is reflected above for additional performance comparison purposes. |
Sector Allocation | % of Total Investments |
Information Technology | 23.2% |
Health Care | 14.9 |
Financials | 12.2 |
Consumer Discretionary | 11.2 |
Industrials | 10.9 |
Consumer Staples | 6.8 |
Energy | 5.6 |
Real Estate | 5.2 |
Communication Services | 3.9 |
Utilities | 3.2 |
Materials | 2.9 |
Total | 100.0% |
Top Ten Holdings | % of Total Investments |
Xilinx, Inc. | 0.8% |
AT&T, Inc. | 0.7 |
SS&C Technologies Holdings, Inc. | 0.7 |
Verizon Communications, Inc. | 0.7 |
NVIDIA Corp. | 0.7 |
KLA-Tencor Corp. | 0.7 |
Intuit, Inc. | 0.7 |
Lam Research Corp. | 0.7 |
Western Digital Corp. | 0.7 |
Cisco Systems, Inc. | 0.6 |
Total | 7.0% |
Performance figures assume reinvestment of all distributions and do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. An index is a statistical composite that tracks a specified financial market or sector. Unlike the Fund, the indices do not actually hold a portfolio of securities and therefore do not incur the expenses incurred by the Fund. These expenses negatively impact the performance of the Fund. The Fund’s past performance does not predict future performance.
Number of Days Bid/Ask Midpoint At/Above NAV | ||||
For the Period | 0.00%–0.49% | 0.50%–0.99% | 1.00%–1.99% | >=2.00% |
6/21/17 – 3/31/18 | 189 | 0 | 0 | 0 |
4/1/18 – 3/31/19 | 221 | 4 | 0 | 0 |
Number of Days Bid/Ask Midpoint Below NAV | ||||
For the Period | 0.00%–0.49% | 0.50%–0.99% | 1.00%–1.99% | >=2.00% |
6/21/17 – 3/31/18 | 6 | 0 | 0 | 0 |
4/1/18 – 3/31/19 | 24 | 1 | 1 | 0 |
Performance | |||
Average Annual Total Returns | Cumulative Total Returns | ||
1 Year Ended 3/31/19 | Inception (6/20/17) to 3/31/19 | Inception (6/20/17) to 3/31/19 | |
Fund Performance | |||
NAV | 2.16% | 5.71% | 10.37% |
Market Price | 2.21% | 5.76% | 10.47% |
Index Performance | |||
Nasdaq Riskalyze US Mid Cap Index | 2.76% | 6.35% | 11.56% |
Nasdaq US 600 Mid Cap Index(1) | 5.48% | 9.47% | 17.45% |
S&P MidCap 400® Index(1) | 2.59% | 6.47% | 11.79% |
(1) | Beginning with this annual report and consistent with the Fund’s return objective, the Nasdaq US 600 Mid Cap Index will be used as the Fund’s benchmark for performance attribution purposes. The S&P MidCap 400® Index was previously used as the Fund’s benchmark for performance purposes. The Nasdaq Riskalyze US Mid Cap Index, the Fund’s underlying index, is derived from the Nasdaq US 600 Mid Cap Index. As such, the Advisor has determined to measure the Fund’s relative outperformance and underperformance against the parent index, Nasdaq US 600 Mid Cap Index, going forward. The S&P MidCap 400® Index is reflected above for additional performance comparison purposes. |
Sector Allocation | % of Total Investments |
Financials | 17.9% |
Information Technology | 16.5 |
Industrials | 16.1 |
Consumer Discretionary | 12.0 |
Real Estate | 11.6 |
Health Care | 8.0 |
Materials | 6.0 |
Utilities | 4.4 |
Energy | 3.3 |
Communication Services | 2.4 |
Consumer Staples | 1.8 |
Total | 100.0% |
Top Ten Holdings | % of Total Investments |
Bio-Techne Corp. | 1.5% |
Bruker Corp. | 1.4 |
Hill-Rom Holdings, Inc. | 1.3 |
West Pharmaceutical Services, Inc. | 1.2 |
Encompass Health Corp. | 1.0 |
Cantel Medical Corp. | 1.0 |
MKS Instruments, Inc. | 1.0 |
Pegasystems, Inc. | 0.9 |
Healthcare Services Group, Inc. | 0.9 |
Entegris, Inc. | 0.8 |
Total | 11.0% |
Performance figures assume reinvestment of all distributions and do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. An index is a statistical composite that tracks a specified financial market or sector. Unlike the Fund, the indices do not actually hold a portfolio of securities and therefore do not incur the expenses incurred by the Fund. These expenses negatively impact the performance of the Fund. The Fund’s past performance does not predict future performance.
Number of Days Bid/Ask Midpoint At/Above NAV | ||||
For the Period | 0.00%–0.49% | 0.50%–0.99% | 1.00%–1.99% | >=2.00% |
6/21/17 – 3/31/18 | 173 | 0 | 0 | 0 |
4/1/18 – 3/31/19 | 237 | 5 | 0 | 0 |
Number of Days Bid/Ask Midpoint Below NAV | ||||
For the Period | 0.00%–0.49% | 0.50%–0.99% | 1.00%–1.99% | >=2.00% |
6/21/17 – 3/31/18 | 22 | 0 | 0 | 0 |
4/1/18 – 3/31/19 | 8 | 1 | 0 | 0 |
Performance | |||
Average Annual Total Returns | Cumulative Total Returns | ||
1 Year Ended 3/31/19 | Inception (6/20/17) to 3/31/19 | Inception (6/20/17) to 3/31/19 | |
Fund Performance | |||
NAV | 1.78% | 5.06% | 9.17% |
Market Price | 2.02% | 5.25% | 9.53% |
Index Performance | |||
Nasdaq Riskalyze US Small Cap Index | 2.42% | 5.74% | 10.43% |
Nasdaq US 700 Small Cap Index(1) | 4.34% | 8.01% | 14.69% |
S&P SmallCap 600® Index(1) | 1.57% | 7.54% | 13.80% |
(1) | Beginning with this annual report and consistent with the Fund’s return objective, the Nasdaq US 700 Small Cap Index will be used as the Fund’s benchmark for performance attribution purposes. The S&P SmallCap 600® Index was previously used as the Fund’s benchmark for performance purposes. The Nasdaq Riskalyze US Small Cap Index, the Fund’s underlying index, is derived from the Nasdaq US 700 Small Cap Index. As such, the Advisor has determined to measure the Fund’s relative outperformance and underperformance against the parent index, Nasdaq US 700 Small Cap Index, going forward. The S&P SmallCap 600® Index is reflected above for additional performance comparison purposes. |
Sector Allocation | % of Total Investments |
Industrials | 20.0% |
Financials | 15.2 |
Health Care | 14.4 |
Consumer Discretionary | 11.5 |
Information Technology | 10.9 |
Real Estate | 8.9 |
Energy | 4.6 |
Materials | 4.5 |
Communication Services | 3.9 |
Consumer Staples | 3.8 |
Utilities | 2.3 |
Total | 100.0% |
Top Ten Holdings | % of Total Investments |
Ensign Group (The), Inc. | 2.2% |
CONMED Corp. | 2.2 |
Atrion Corp. | 2.0 |
Patterson Cos., Inc. | 1.9 |
US Physical Therapy, Inc. | 1.7 |
Luminex Corp. | 1.7 |
National HealthCare Corp. | 1.6 |
Owens & Minor, Inc. | 1.1 |
Nabors Industries Ltd. | 1.0 |
Plantronics, Inc. | 1.0 |
Total | 16.4% |
Performance figures assume reinvestment of all distributions and do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. An index is a statistical composite that tracks a specified financial market or sector. Unlike the Fund, the indices do not actually hold a portfolio of securities and therefore do not incur the expenses incurred by the Fund. These expenses negatively impact the performance of the Fund. The Fund’s past performance does not predict future performance.
Number of Days Bid/Ask Midpoint At/Above NAV | ||||
For the Period | 0.00%–0.49% | 0.50%–0.99% | 1.00%–1.99% | >=2.00% |
6/21/17 – 3/31/18 | 163 | 0 | 0 | 0 |
4/1/18 – 3/31/19 | 233 | 5 | 1 | 0 |
Number of Days Bid/Ask Midpoint Below NAV | ||||
For the Period | 0.00%–0.49% | 0.50%–0.99% | 1.00%–1.99% | >=2.00% |
6/21/17 – 3/31/18 | 32 | 0 | 0 | 0 |
4/1/18 – 3/31/19 | 11 | 1 | 0 | 0 |
Performance | |||
Average Annual Total Returns | Cumulative Total Returns | ||
1 Year Ended 3/31/19 | Inception (6/20/17) to 3/31/19 | Inception (6/20/17) to 3/31/19 | |
Fund Performance | |||
NAV | 6.64% | 8.27% | 15.17% |
Market Price | 6.54% | 8.27% | 15.17% |
Index Performance | |||
Nasdaq Riskalyze US Large Cap Select Dividend Index | 7.24% | 8.86% | 16.29% |
Nasdaq US 500 Large Cap Index(1) | 9.34% | 11.04% | 20.46% |
S&P 500® Index(1) | 9.50% | 11.03% | 20.45% |
(1) | Beginning with this annual report and consistent with the Fund’s return objective, the Nasdaq US 500 Large Cap Index will be used as the Fund’s benchmark for performance attribution purposes. The S&P 500® Index was previously used as the Fund’s benchmark for performance purposes. The Nasdaq Riskalyze US Large Cap Index, the Fund’s underlying index, is derived from the Nasdaq US 500 Large Cap Index. As such, the Advisor has determined to measure the Fund’s relative outperformance and underperformance against the parent index, Nasdaq US 500 Large Cap Index, going forward. The S&P 500® Index is reflected above for additional performance comparison purposes. |
Sector Allocation | % of Total Investments |
Information Technology | 22.1% |
Health Care | 14.1 |
Consumer Discretionary | 11.8 |
Industrials | 11.1 |
Financials | 10.7 |
Real Estate | 7.5 |
Consumer Staples | 7.4 |
Energy | 5.7 |
Communication Services | 3.4 |
Utilities | 3.3 |
Materials | 2.9 |
Total | 100.0% |
Top Ten Holdings | % of Total Investments |
Seagate Technology PLC | 2.3% |
Western Digital Corp. | 2.0 |
International Business Machines Corp. | 1.9 |
Gilead Sciences, Inc. | 1.5 |
AbbVie, Inc. | 1.5 |
Pfizer, Inc. | 1.2 |
QUALCOMM, Inc. | 1.2 |
KLA-Tencor Corp. | 1.2 |
Johnson & Johnson | 1.2 |
Bristol-Myers Squibb Co. | 1.1 |
Total | 15.1% |
Performance figures assume reinvestment of all distributions and do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. An index is a statistical composite that tracks a specified financial market or sector. Unlike the Fund, the indices do not actually hold a portfolio of securities and therefore do not incur the expenses incurred by the Fund. These expenses negatively impact the performance of the Fund. The Fund’s past performance does not predict future performance.
Number of Days Bid/Ask Midpoint At/Above NAV | ||||
For the Period | 0.00%–0.49% | 0.50%–0.99% | 1.00%–1.99% | >=2.00% |
6/21/17 – 3/31/18 | 190 | 0 | 0 | 0 |
4/1/18 – 3/31/19 | 175 | 3 | 0 | 0 |
Number of Days Bid/Ask Midpoint Below NAV | ||||
For the Period | 0.00%–0.49% | 0.50%–0.99% | 1.00%–1.99% | >=2.00% |
6/21/17 – 3/31/18 | 5 | 0 | 0 | 0 |
4/1/18 – 3/31/19 | 68 | 4 | 1 | 0 |
Beginning Account Value October 1, 2018 | Ending Account Value March 31, 2019 | Annualized Expense Ratio Based on the Six-Month Period | Expenses Paid During the Six-Month Period (a) | |
Developed International Equity Select ETF (RNDM) | ||||
Actual | $1,000.00 | $989.50 | 0.65% | $3.22 |
Hypothetical (5% return before expenses) | $1,000.00 | $1,021.69 | 0.65% | $3.28 |
Emerging Markets Equity Select ETF (RNEM) | ||||
Actual | $1,000.00 | $1,042.90 | 0.75% | $3.82 |
Hypothetical (5% return before expenses) | $1,000.00 | $1,021.19 | 0.75% | $3.78 |
Large Cap US Equity Select ETF (RNLC) | ||||
Actual | $1,000.00 | $975.50 | 0.60% | $2.96 |
Hypothetical (5% return before expenses) | $1,000.00 | $1,021.94 | 0.60% | $3.02 |
Mid Cap US Equity Select ETF (RNMC) | ||||
Actual | $1,000.00 | $959.40 | 0.60% | $2.93 |
Hypothetical (5% return before expenses) | $1,000.00 | $1,021.94 | 0.60% | $3.02 |
Small Cap US Equity Select ETF (RNSC) | ||||
Actual | $1,000.00 | $919.00 | 0.60% | $2.87 |
Hypothetical (5% return before expenses) | $1,000.00 | $1,021.94 | 0.60% | $3.02 |
US Equity Dividend Select ETF (RNDV) | ||||
Actual | $1,000.00 | $983.10 | 0.50% | $2.47 |
Hypothetical (5% return before expenses) | $1,000.00 | $1,022.44 | 0.50% | $2.52 |
(a) | Expenses are equal to the annualized expense ratios as indicated in the table multiplied by the average account value over the period (October 1, 2018 through March 31, 2019), multiplied by 182/365 (to reflect the six-month period). |
Shares | Description | Value | ||
COMMON STOCKS (a) – 90.0% | ||||
Australia – 3.7% | ||||
1,006 | ASX Ltd. | $49,887 | ||
2,272 | Australia & New Zealand Banking Group Ltd. | 41,992 | ||
4,841 | Brambles Ltd. | 40,423 | ||
3,188 | Coca-Cola Amatil Ltd. | 19,580 | ||
897 | Commonwealth Bank of Australia | 44,992 | ||
6,033 | Crown Resorts Ltd. | 49,306 | ||
8,890 | Insurance Australia Group Ltd. | 48,479 | ||
508 | Macquarie Group Ltd. | 46,683 | ||
22,003 | Medibank Pvt Ltd. | 43,120 | ||
2,302 | National Australia Bank Ltd. | 41,305 | ||
5,758 | QBE Insurance Group Ltd. | 50,329 | ||
8,771 | Sonic Healthcare Ltd. | 152,956 | ||
4,428 | Suncorp Group Ltd. | 43,326 | ||
7,658 | Sydney Airport | 40,401 | ||
4,703 | Transurban Group | 44,080 | ||
2,417 | Wesfarmers Ltd. | 59,466 | ||
2,292 | Westpac Banking Corp. | 42,183 | ||
2,941 | Woolworths Group Ltd. | 63,483 | ||
921,991 | ||||
Austria – 0.2% | ||||
115 | ams AG | 3,102 | ||
147 | ANDRITZ AG | 6,306 | ||
386 | Erste Group Bank AG | 14,185 | ||
263 | OMV AG | 14,270 | ||
556 | Raiffeisen Bank International AG | 12,480 | ||
230 | voestalpine AG | 6,984 | ||
57,327 | ||||
Belgium – 1.2% | ||||
532 | Ageas | 25,661 | ||
1,642 | Anheuser-Busch InBev S.A./N.V. | 137,702 | ||
101 | Colruyt S.A. | 7,466 | ||
273 | Groupe Bruxelles Lambert S.A. | 26,526 | ||
385 | KBC Group N.V. | 26,897 | ||
29 | Melexis N.V. | 1,755 | ||
254 | Proximus S.A.D.P. | 7,325 | ||
147 | Solvay S.A. | 15,893 | ||
113 | Telenet Group Holding N.V. | 5,435 | ||
231 | UCB S.A. | 19,839 | ||
353 | Umicore S.A. | 15,677 | ||
290,176 | ||||
Bermuda – 0.5% | ||||
3,000 | CK Infrastructure Holdings Ltd. | 24,631 | ||
3,000 | Hongkong Land Holdings Ltd. | 21,330 | ||
200 | Jardine Matheson Holdings Ltd. | 12,472 | ||
10,500 | Kerry Properties Ltd. | 46,883 | ||
20,000 | Shangri-La Asia Ltd. | 28,433 | ||
133,749 | ||||
Canada – 5.4% | ||||
882 | Bank of Montreal | 65,994 | ||
1,220 | Bank of Nova Scotia (The) | 64,946 |
Shares | Description | Value | ||
Canada (Continued) | ||||
1,128 | BCE, Inc. | $50,088 | ||
776 | Canadian Imperial Bank of Commerce | 61,321 | ||
592 | Canadian Utilities Ltd., Class A | 16,161 | ||
1,186 | CGI, Inc. (b) | 81,534 | ||
468 | Emera, Inc. | 17,500 | ||
4,819 | First Capital Realty, Inc. | 77,170 | ||
449 | Fortis, Inc. | 16,595 | ||
1,323 | George Weston Ltd. | 95,130 | ||
2,996 | Great-West Lifeco, Inc. | 72,549 | ||
958 | Hydro One Ltd. (c) | 14,882 | ||
875 | Intact Financial Corp. | 74,041 | ||
2,426 | Loblaw Cos., Ltd. | 119,671 | ||
1,457 | National Bank of Canada | 65,755 | ||
3,349 | Power Corp. of Canada | 78,089 | ||
3,173 | Power Financial Corp. | 74,128 | ||
889 | Rogers Communications, Inc., Class B | 47,811 | ||
907 | Royal Bank of Canada | 68,428 | ||
1,830 | Sun Life Financial, Inc. | 70,305 | ||
1,240 | TELUS Corp. | 45,894 | ||
1,197 | Toronto-Dominion Bank (The) | 64,958 | ||
1,342,950 | ||||
Cayman Islands – 0.5% | ||||
500 | ASM Pacific Technology Ltd. | 5,576 | ||
5,000 | CK Asset Holdings Ltd. | 44,459 | ||
3,242 | CK Hutchison Holdings Ltd. | 34,052 | ||
6,567 | Sands China Ltd. | 33,002 | ||
117,089 | ||||
Denmark – 1.8% | ||||
1,205 | Ambu A.S., Class B | 31,884 | ||
11 | AP Moller - Maersk A.S., Class B | 13,953 | ||
117 | Carlsberg A.S., Class B | 14,612 | ||
285 | Chr Hansen Holding A.S. | 28,888 | ||
283 | Coloplast A.S., Class B | 31,049 | ||
455 | Danske Bank A.S. | 7,985 | ||
770 | Demant A.S. (b) | 22,769 | ||
307 | Dfds A.S. | 12,704 | ||
167 | DSV A.S. | 13,811 | ||
184 | Genmab A.S. (b) | 31,932 | ||
594 | GN Store Nord A.S. | 27,579 | ||
470 | H Lundbeck A.S. | 20,338 | ||
430 | ISS A.S. | 13,083 | ||
247 | Jyske Bank A.S. | 9,542 | ||
616 | Novo Nordisk A.S., Class B | 32,247 | ||
527 | Novozymes A.S., Class B | 24,230 | ||
238 | Orsted A.S. (c) | 18,038 | ||
226 | Pandora A.S. | 10,581 | ||
35 | Rockwool International A.S., Class B | 8,199 | ||
171 | Royal Unibrew A.S. | 12,615 | ||
66 | SimCorp A.S. | 6,372 | ||
261 | Topdanmark A.S. | 13,035 |
Shares | Description | Value | ||
COMMON STOCKS (a) (Continued) | ||||
Denmark (Continued) | ||||
478 | Tryg A.S. | $13,115 | ||
376 | Vestas Wind Systems A.S. | 31,637 | ||
450,198 | ||||
Finland – 1.2% | ||||
276 | Elisa OYJ | 12,452 | ||
798 | Fortum OYJ | 16,319 | ||
512 | Huhtamaki OYJ | 19,051 | ||
125 | Kesko OYJ, Class B | 7,606 | ||
307 | Kone OYJ, Class B | 15,483 | ||
464 | Metso OYJ | 15,958 | ||
258 | Neste OYJ | 27,494 | ||
10,294 | Nokia OYJ | 58,591 | ||
221 | Nokian Renkaat OYJ | 7,398 | ||
2,343 | Nordea Bank Abp | 17,830 | ||
191 | Orion Oyj, Class B | 7,160 | ||
810 | Sampo OYJ, Class A | 36,717 | ||
1,527 | Stora Enso OYJ, Class R | 18,662 | ||
744 | UPM-Kymmene OYJ | 21,699 | ||
842 | Wartsila OYJ Abp | 13,587 | ||
296,007 | ||||
France – 9.0% | ||||
4,409 | Accor S.A. | 178,593 | ||
895 | Air Liquide S.A. | 113,800 | ||
1,988 | Alstom S.A. | 86,124 | ||
3,442 | Bureau Veritas SA | 80,696 | ||
2,060 | Cie de Saint-Gobain | 74,662 | ||
3,347 | CNP Assurances | 73,663 | ||
2,016 | Danone S.A. | 155,339 | ||
796 | Eiffage S.A. | 76,487 | ||
3,023 | Engie S.A. | 45,033 | ||
618 | EssilorLuxottica S.A. | 67,508 | ||
236 | Hermes International | 155,716 | ||
1,220 | Legrand S.A. | 81,647 | ||
647 | L’Oreal S.A. | 174,040 | ||
3,501 | Orange S.A. | 56,945 | ||
707 | Orpea | 84,859 | ||
951 | Pernod Ricard S.A. | 170,685 | ||
1,029 | Sanofi | 90,888 | ||
471 | Teleperformance | 84,641 | ||
4,143 | TOTAL S.A. | 230,140 | ||
2,227 | Veolia Environnement S.A. | 49,788 | ||
933 | Vinci S.A. | 90,760 | ||
2,222,014 | ||||
Germany – 8.6% | ||||
243 | Allianz SE | 54,048 | ||
689 | BASF SE | 50,647 | ||
1,385 | Bayerische Motoren Werke AG | 106,812 | ||
1,108 | Beiersdorf AG | 115,266 | ||
992 | Brenntag AG | 51,076 | ||
1,980 | Daimler AG | 116,051 | ||
404 | Deutsche Boerse AG | 51,799 | ||
2,873 | Deutsche Post AG | 93,461 | ||
6,829 | Deutsche Telekom AG | 113,336 |
Shares | Description | Value | ||
Germany (Continued) | ||||
1,127 | Deutsche Wohnen SE | $54,652 | ||
1,708 | Evonik Industries AG | 46,519 | ||
1,159 | Fraport AG Frankfurt Airport Services Worldwide | 88,719 | ||
1,357 | Fresenius Medical Care AG & Co., KGaA | 109,447 | ||
383 | Hannover Rueck SE | 54,993 | ||
1,311 | HeidelbergCement AG | 94,355 | ||
1,065 | Henkel AG & Co., KGaA (Preference Shares) | 108,714 | ||
456 | LEG Immobilien AG | 55,986 | ||
1,350 | Merck KGaA | 153,935 | ||
244 | Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen | 57,752 | ||
2,336 | SAP SE | 269,902 | ||
800 | Siemens AG | 86,097 | ||
671 | Symrise AG | 60,456 | ||
2,365 | Uniper SE | 71,338 | ||
1,107 | Vonovia SE | 57,395 | ||
2,122,756 | ||||
Greece – 0.0% | ||||
449 | Hellenic Telecommunications Organization S.A. | 6,014 | ||
Hong Kong – 2.7% | ||||
4,000 | AIA Group Ltd. | 39,822 | ||
9,600 | Bank of East Asia (The) Ltd. | 31,185 | ||
2,045 | CLP Holdings Ltd. | 23,706 | ||
18,000 | Hang Lung Properties Ltd. | 43,934 | ||
1,300 | Hang Seng Bank Ltd. | 32,078 | ||
7,500 | Henderson Land Development Co., Ltd. | 47,675 | ||
11,909 | Hong Kong & China Gas Co., Ltd. | 28,551 | ||
1,280 | Hong Kong Exchanges & Clearing Ltd. | 44,613 | ||
5,455 | MTR Corp., Ltd. | 33,773 | ||
26,240 | New World Development Co., Ltd. | 43,522 | ||
3,500 | Power Assets Holdings Ltd. | 24,277 | ||
21,818 | Sino Land Co., Ltd. | 42,191 | ||
2,500 | Sun Hung Kai Properties Ltd. | 42,898 | ||
3,624 | Swire Pacific Ltd., Class A | 46,628 | ||
8,500 | Techtronic Industries Co., Ltd. | 57,118 | ||
13,000 | Wharf Holdings (The) Ltd. | 39,249 | ||
5,909 | Wheelock & Co., Ltd. | 43,283 | ||
664,503 | ||||
Ireland – 0.6% | ||||
1,701 | Bank of Ireland Group PLC | 10,132 | ||
779 | CRH PLC | 24,162 | ||
1,003 | Glanbia PLC | 19,622 | ||
156 | Kerry Group PLC, Class A | 17,412 | ||
548 | Kingspan Group PLC | 25,363 |
Shares | Description | Value | ||
COMMON STOCKS (a) (Continued) | ||||
Ireland (Continued) | ||||
1,961 | Ryanair Holdings PLC (b) | $25,660 | ||
646 | Smurfit Kappa Group PLC | 18,029 | ||
140,380 | ||||
Israel – 0.4% | ||||
1,566 | Bank Hapoalim BM | 10,359 | ||
1,739 | Bank Leumi Le-Israel BM | 11,351 | ||
42 | Elbit Systems Ltd. | 5,417 | ||
1,288 | Israel Chemicals Ltd. | 6,694 | ||
3,439 | Israel Discount Bank Ltd., Class A | 11,862 | ||
655 | Mizrahi Tefahot Bank Ltd. | 13,451 | ||
111 | Nice, Ltd. (b) | 13,072 | ||
1,867 | Teva Pharmaceutical Industries Ltd. (b) | 29,039 | ||
101,245 | ||||
Italy – 2.3% | ||||
11,344 | A2A S.p.A. | 20,697 | ||
90 | Amplifon S.p.A. | 1,752 | ||
1,563 | Assicurazioni Generali S.p.A. | 28,929 | ||
3,969 | Banca Mediolanum S.p.A. | 28,116 | ||
648 | Brembo S.p.A. | 7,349 | ||
1,051 | Buzzi Unicem S.p.A | 21,498 | ||
997 | Davide Campari-Milano S.p.A. | 9,786 | ||
20 | DiaSorin S.p.A. | 2,012 | ||
3,844 | Enel S.p.A. | 24,596 | ||
2,909 | Eni S.p.A. | 51,408 | ||
2,020 | FinecoBank Banca Fineco S.p.A. | 26,568 | ||
6,323 | Hera S.p.A. | 22,867 | ||
10,567 | Intesa Sanpaolo S.p.A. | 25,734 | ||
3,628 | Italgas S.p.A. | 22,400 | ||
2,703 | Mediobanca Banca di Credito Finanziario S.p.A. | 28,083 | ||
197 | Moncler S.p.A. | 7,938 | ||
3,379 | Poste Italiane S.p.A. (c) | 32,870 | ||
936 | Prysmian S.p.A. | 17,708 | ||
354 | Salvatore Ferragamo S.p.A | 7,593 | ||
13,208 | Snam S.p.A. | 67,843 | ||
44,273 | Telecom Italia S.p.A. (b) | 27,533 | ||
3,686 | Terna Rete Elettrica Nazionale S.p.A | 23,353 | ||
1,794 | UniCredit S.p.A. | 22,998 | ||
11,457 | UnipolSai Assicurazioni S.p.A. | 30,896 | ||
560,527 | ||||
Japan – 13.9% | ||||
4,900 | ANA Holdings, Inc. | 179,456 | ||
2,200 | Aozora Bank Ltd. | 54,310 | ||
6,200 | Canon, Inc. | 179,740 | ||
10,700 | Chugoku Electric Power (The) Co., Inc. | 133,328 | ||
4,800 | Japan Airlines Co., Ltd. | 168,864 | ||
6,700 | Japan Post Bank Co., Ltd. | 73,088 | ||
6,700 | Japan Post Holdings Co., Ltd. | 78,347 |
Shares | Description | Value | ||
Japan (Continued) | ||||
4,260 | Kintetsu Group Holdings Co., Ltd. | $198,336 | ||
5,600 | Kyushu Railway Co. | 183,921 | ||
62,800 | Mazda Motor Corp. | 701,776 | ||
45,700 | Mizuho Financial Group, Inc. | 70,634 | ||
7,100 | NEC Corp. | 239,913 | ||
80,500 | Nissan Motor Co., Ltd. | 659,660 | ||
16,800 | NTT DOCOMO, Inc. | 371,607 | ||
3,800 | Seven & i Holdings Co., Ltd. | 143,181 | ||
3,436,161 | ||||
Jersey – 0.6% | ||||
3,464 | Experian PLC | 93,798 | ||
1,048 | Ferguson PLC | 66,665 | ||
160,463 | ||||
Luxembourg – 0.5% | ||||
456 | APERAM S.A. | 12,987 | ||
673 | ArcelorMittal | 13,633 | ||
2,087 | Grand City Properties S.A. | 50,334 | ||
322 | Millicom International Cellular S.A. | 19,551 | ||
1,316 | Subsea 7 S.A. | 16,280 | ||
112,785 | ||||
Netherlands – 3.7% | ||||
154 | Aalberts Industries N.V. | 5,326 | ||
1,650 | ABN AMRO Group N.V. (c) | 37,203 | ||
6,923 | Aegon N.V. | 33,269 | ||
238 | Akzo Nobel N.V. | 21,088 | ||
1,362 | ASM International N.V. | 73,794 | ||
377 | ASML Holding N.V. | 70,709 | ||
942 | ASR Nederland N.V. | 39,203 | ||
208 | Boskalis Westminster | 5,378 | ||
403 | EXOR N.V. | 26,175 | ||
848 | Heineken Holding N.V. | 84,946 | ||
819 | Heineken N.V. | 86,432 | ||
268 | IMCD N.V. | 20,398 | ||
3,459 | ING Groep N.V. | 41,843 | ||
1,758 | Koninklijke Ahold Delhaize N.V. | 46,787 | ||
197 | Koninklijke DSM N.V. | 21,471 | ||
7,511 | Koninklijke KPN N.V. | 23,810 | ||
1,790 | Koninklijke Philips N.V. | 72,918 | ||
132 | Koninklijke Vopak N.V. | 6,317 | ||
1,007 | NN Group N.V. | 41,829 | ||
655 | OCI N.V. (b) | 18,001 | ||
123 | Randstad N.V. | 5,998 | ||
253 | Signify N.V. (c) | 6,769 | ||
1,379 | Unilever N.V. | 80,098 | ||
647 | Wolters Kluwer N.V. | 44,054 | ||
913,816 | ||||
New Zealand – 0.2% | ||||
1,182 | a2 Milk Co., Ltd. (b) | 11,519 | ||
1,560 | Auckland International Airport Ltd. | 8,648 |
Shares | Description | Value | ||
COMMON STOCKS (a) (Continued) | ||||
New Zealand (Continued) | ||||
1,705 | Fisher & Paykel Healthcare Corp., Ltd. | $18,229 | ||
1,742 | Fletcher Building Ltd. | 5,872 | ||
3,129 | Spark New Zealand Ltd. | 8,097 | ||
52,365 | ||||
Norway – 0.7% | ||||
133 | Aker ASA, Class A | 10,147 | ||
457 | Aker BP ASA | 16,267 | ||
571 | DNB ASA | 10,513 | ||
690 | Equinor ASA | 15,159 | ||
712 | Gjensidige Forsikring ASA | 12,300 | ||
1,070 | Leroy Seafood Group ASA | 7,761 | ||
377 | Mowi ASA | 8,414 | ||
2,418 | Norsk Hydro ASA | 9,798 | ||
1,033 | Orkla ASA | 7,929 | ||
175 | Salmar ASA | 8,396 | ||
327 | Schibsted ASA, Class A | 12,837 | ||
1,344 | Storebrand ASA | 10,462 | ||
1,115 | Telenor ASA | 22,326 | ||
476 | TGS NOPEC Geophysical Co., ASA | 12,986 | ||
296 | Yara International ASA | 12,108 | ||
177,403 | ||||
Portugal – 0.1% | ||||
14,684 | Banco Comercial Portugues S.A., Class R (b) | 3,793 | ||
851 | Galp Energia SGPS S.A. | 13,632 | ||
450 | Jeronimo Martins SGPS S.A. | 6,638 | ||
24,063 | ||||
Singapore – 1.1% | ||||
8,000 | CapitaLand Ltd. | 21,546 | ||
3,000 | City Developments Ltd. | 20,033 | ||
3,600 | ComfortDelGro Corp., Ltd. | 6,827 | ||
1,000 | DBS Group Holdings Ltd. | 18,617 | ||
8,300 | Genting Singapore Ltd. | 6,369 | ||
300 | Jardine Cycle & Carriage Ltd. | 7,192 | ||
2,400 | Keppel Corp., Ltd. | 11,015 | ||
2,400 | Oversea-Chinese Banking Corp., Ltd. | 19,568 | ||
3,300 | SATS Ltd. | 12,443 | ||
1,700 | Sembcorp Industries Ltd. | 3,199 | ||
900 | Singapore Airlines Ltd. | 6,415 | ||
3,700 | Singapore Exchange Ltd. | 19,957 | ||
4,800 | Singapore Technologies Engineering Ltd. | 13,246 | ||
13,400 | Singapore Telecommunications Ltd. | 29,860 | ||
1,000 | United Overseas Bank Ltd. | 18,587 | ||
3,900 | UOL Group Ltd. | 20,000 | ||
1,000 | Venture Corp Ltd. | 13,238 | ||
5,600 | Wilmar International Ltd. | 13,677 | ||
261,789 |
Shares | Description | Value | ||
South Korea – 4.6% | ||||
102 | CJ CheilJedang Corp. | $29,025 | ||
272 | CJ Corp. | 29,834 | ||
37 | CJ Corp. (Preference Shares) (b) (d) | 1,206 | ||
336 | DB Insurance Co., Ltd. | 20,336 | ||
254 | GS Holdings Corp. | 11,815 | ||
678 | Hankook Tire Co., Ltd. | 22,369 | ||
263 | Hyundai Motor Co. | 27,688 | ||
1,601 | Industrial Bank of Korea | 19,817 | ||
488 | Kangwon Land, Inc. | 13,757 | ||
452 | KB Financial Group, Inc. | 16,665 | ||
968 | Kia Motors Corp. | 30,146 | ||
1,037 | Korea Electric Power Corp. (b) | 27,316 | ||
205 | Korea Zinc Co., Ltd. | 83,979 | ||
1,535 | KT Corp., ADR | 19,095 | ||
327 | KT&G Corp. | 29,816 | ||
751 | LG Corp. | 51,275 | ||
1,566 | NAVER Corp. | 171,072 | ||
421 | Samsung C&T Corp. | 39,686 | ||
4,829 | Samsung Electronics Co., Ltd. | 189,952 | ||
86 | Samsung Fire & Marine Insurance Co., Ltd. | 22,805 | ||
251 | Samsung Life Insurance Co., Ltd. | 18,597 | ||
544 | Shinhan Financial Group Co., Ltd. | 20,129 | ||
781 | SK Holdings Co., Ltd. | 186,116 | ||
137 | SK Innovation Co., Ltd. | 21,665 | ||
82 | SK Telecom Co., Ltd. | 18,168 | ||
1,445 | Woori Financial Group, Inc. | 17,504 | ||
1,139,833 | ||||
Spain – 2.8% | ||||
209 | Acciona S.A. | 23,281 | ||
309 | Acerinox S.A. | 3,062 | ||
445 | ACS Actividades de Construccion y Servicios S.A. | 19,548 | ||
109 | Aena SME S.A. (c) | 19,624 | ||
763 | Amadeus IT Group S.A. | 61,111 | ||
5,892 | Banco Bilbao Vizcaya Argentaria S.A. | 33,661 | ||
7,461 | Banco Santander S.A. | 34,687 | ||
9,578 | Bankia S.A. | 24,819 | ||
4,078 | Bankinter S.A. | 31,061 | ||
8,214 | CaixaBank S.A. | 25,652 | ||
1,372 | Cellnex Telecom S.A. (c) | 40,261 | ||
102 | CIE Automotive S.A. | 2,744 | ||
1,015 | Enagas S.A. | 29,535 | ||
1,268 | Endesa S.A. | 32,345 | ||
914 | Ferrovial S.A. | 21,408 | ||
897 | Grifols S.A. | 25,115 | ||
3,722 | Iberdrola S.A. | 32,675 | ||
2,070 | Industria de Diseno Textil S.A. | 60,837 | ||
11,971 | Mapfre S.A. | 32,980 | ||
1,003 | Naturgy Energy Group S.A. | 28,049 | ||
1,308 | Red Electrica Corp. S.A. | 27,878 |
Shares | Description | Value | ||
COMMON STOCKS (a) (Continued) | ||||
Spain (Continued) | ||||
2,683 | Repsol S.A. | $45,927 | ||
4,555 | Telefonica S.A. | 38,163 | ||
694,423 | ||||
Sweden – 2.5% | ||||
1,211 | Alfa Laval AB | 27,796 | ||
1,634 | Assa Abloy AB, Class B | 35,273 | ||
1,139 | Atlas Copco AB, Class A | 30,584 | ||
992 | Axfood AB | 18,459 | ||
1,427 | Castellum AB | 27,681 | ||
1,547 | Essity AB, Class B | 44,610 | ||
1,843 | Fabege AB | 26,761 | ||
920 | Fastighets AB Balder, Class B (b) | 29,488 | ||
585 | ICA Gruppen AB | 23,470 | ||
1,149 | Industrivarden AB, Class C | 24,068 | ||
554 | Investor AB, Class B | 24,949 | ||
843 | Kinnevik AB, Class B | 21,834 | ||
2,741 | Nibe Industrier AB, Class B | 35,098 | ||
1,851 | Sandvik AB | 30,063 | ||
1,886 | Securitas AB, Class B | 30,479 | ||
2,287 | Skandinaviska Enskilda Banken AB, Class A | 19,797 | ||
1,672 | Skanska AB, Class B | 30,374 | ||
3,259 | Svenska Cellulosa AB SCA, Class B | 28,253 | ||
2,022 | Svenska Handelsbanken AB, Class A | 21,335 | ||
1,030 | Swedbank AB, Class A | 14,552 | ||
760 | Swedish Match AB | 38,738 | ||
4,029 | Telia Co., AB | 18,179 | ||
1,611 | Trelleborg AB, Class B | 24,943 | ||
626,784 | ||||
Switzerland – 9.4% | ||||
258 | Baloise Holding AG | 42,622 | ||
29 | Chocoladefabriken Lindt & Spruengli AG | 197,168 | ||
2,514 | Cie Financiere Richemont S.A. | 183,144 | ||
137 | DKSH Holding AG | 7,897 | ||
44 | EMS-Chemie Holding AG | 23,861 | ||
307 | Flughafen Zurich AG | 56,020 | ||
134 | Geberit AG | 54,771 | ||
11 | Givaudan S.A. | 28,103 | ||
65 | Helvetia Holding AG | 39,689 | ||
787 | Julius Baer Group Ltd. | 31,796 | ||
392 | Kuehne + Nagel International AG | 53,776 | ||
2,458 | Nestle S.A. | 234,260 | ||
4,703 | Novartis AG | 452,376 | ||
491 | Pargesa Holding S.A. | 38,461 | ||
50 | Partners Group Holding AG | 36,354 | ||
407 | PSP Swiss Property AG | 44,225 | ||
1,670 | Roche Holding AG | 460,120 | ||
249 | Schindler Holding AG | 51,613 |
Shares | Description | Value | ||
Switzerland (Continued) | ||||
24 | SGS S.A. | $59,726 | ||
104 | Swiss Life Holding AG | 45,799 | ||
462 | Swiss Prime Site AG | 40,482 | ||
427 | Swiss Re AG | 41,716 | ||
58 | Swisscom AG | 28,367 | ||
2,494 | UBS Group AG | 30,231 | ||
125 | Zurich Insurance Group AG | 41,376 | ||
2,323,953 | ||||
United Kingdom – 11.8% | ||||
4,978 | AstraZeneca PLC | 397,769 | ||
13,699 | Aviva PLC | 73,581 | ||
2,829 | Bunzl PLC | 93,295 | ||
5,818 | Croda International PLC | 381,762 | ||
19,601 | Diageo PLC | 801,110 | ||
4,724 | Halma PLC | 102,874 | ||
10,012 | HSBC Holdings PLC | 81,279 | ||
9,139 | Inchcape PLC | 67,967 | ||
8,022 | Informa PLC | 77,756 | ||
1,276 | InterContinental Hotels Group PLC | 76,698 | ||
25,575 | Legal & General Group PLC | 91,703 | ||
113,139 | Lloyds Banking Group PLC | 91,568 | ||
1,462 | London Stock Exchange Group PLC | 90,468 | ||
9,920 | Phoenix Group Holdings PLC | 87,535 | ||
3,784 | RELX PLC | 80,901 | ||
12,982 | Rightmove PLC | 86,233 | ||
2,167 | Schroders PLC | 76,261 | ||
935 | Spirax-Sarco Engineering PLC | 87,559 | ||
23,571 | Wm Morrison Supermarkets PLC | 69,858 | ||
2,916,177 | ||||
Total Common Stocks | 22,266,941 | |||
(Cost $22,600,840) | ||||
REAL ESTATE INVESTMENT TRUSTS (a) – 9.4% | ||||
Australia – 1.4% | ||||
6,063 | Dexus | 54,846 | ||
6,180 | Goodman Group | 58,581 | ||
12,290 | GPT (The) Group | 54,192 | ||
26,568 | Mirvac Group | 51,878 | ||
16,128 | Scentre Group | 47,066 | ||
15,429 | Stockland | 42,178 | ||
24,438 | Vicinity Centres | 45,116 | ||
353,857 | ||||
Canada – 1.0% | ||||
1,969 | Canadian Apartment Properties REIT | 75,689 | ||
4,729 | H&R Real Estate Investment Trust | 82,842 | ||
3,807 | RioCan Real Estate Investment Trust | 75,408 | ||
233,939 |
Shares | Description | Value | ||
REAL ESTATE INVESTMENT TRUSTS (a) (Continued) | ||||
France – 1.2% | ||||
775 | Covivio | $82,241 | ||
484 | Gecina S.A. | 71,558 | ||
873 | ICADE | 73,838 | ||
2,276 | Klepierre S.A. | 79,606 | ||
307,243 | ||||
Hong Kong – 0.2% | ||||
3,500 | Link REIT | 40,930 | ||
Japan – 3.5% | ||||
31 | Advance Residence Investment Corp. | 86,290 | ||
35 | Daiwa House REIT Investment Corp. | 77,592 | ||
82 | GLP J-REIT | 87,823 | ||
15 | Japan Real Estate Investment Corp. | 88,378 | ||
44 | Japan Retail Fund Investment Corp. | 88,413 | ||
14 | Nippon Building Fund, Inc. | 94,740 | ||
40 | Nippon Prologis REIT, Inc. | 85,103 | ||
58 | Nomura Real Estate Master Fund, Inc. | 85,406 | ||
51 | Orix JREIT, Inc. | 87,477 | ||
51 | United Urban Investment Corp. | 80,483 | ||
861,705 | ||||
Singapore – 0.3% | ||||
10,200 | Ascendas Real Estate Investment Trust | 21,902 | ||
15,200 | CapitaLand Commercial Trust | 21,758 | ||
12,200 | CapitaLand Mall Trust | 21,425 | ||
14,000 | Suntec Real Estate Investment Trust | 20,144 | ||
85,229 | ||||
Spain – 0.3% | ||||
3,614 | Inmobiliaria Colonial Socimi S.A. | 37,155 | ||
2,768 | Merlin Properties Socimi S.A. | 36,220 | ||
73,375 | ||||
United Kingdom – 1.5% | ||||
10,872 | British Land (The) Co., PLC | 83,404 | ||
2,347 | Derwent London PLC | 98,522 | ||
7,591 | Land Securities Group PLC | 90,307 |
Shares | Description | Value | ||
United Kingdom (Continued) | ||||
10,514 | Segro PLC | $92,215 | ||
364,448 | ||||
Total Real Estate Investment Trusts | 2,320,726 | |||
(Cost $2,216,137) | ||||
Total Investments – 99.4% | 24,587,667 | |||
(Cost $24,816,977) (e) | ||||
Net Other Assets and Liabilities – 0.6% | 139,665 | |||
Net Assets – 100.0% | $24,727,332 |
(a) | Portfolio securities are categorized based upon their country of incorporation, which can be different from the country categorization of the Fund’s underlying index. For a breakdown of the portfolio securities by sector, please see the Fund Performance Overview. |
(b) | Non-income producing security. |
(c) | This security is restricted in the U.S. and cannot be offered for public sale without first being registered under the Securities Act of 1933, as amended. This security is not restricted on the foreign exchange where it trades freely without any additional registration. As such, it does not require the additional disclosure required of restricted securities. |
(d) | This security is fair valued by the Advisor’s Pricing Committee in accordance with procedures adopted by the Trust’s Board of Trustees, and in accordance with the provisions of the Investment Company Act of 1940, as amended. At March 31, 2019, securities noted as such are valued at $1,206 or 0.0% of net assets. |
(e) | Aggregate cost for federal income tax purposes was $24,958,950. As of March 31, 2019, the aggregate gross unrealized appreciation for all investments in which there was an excess of value over tax cost was $1,134,117 and the aggregate gross unrealized depreciation for all investments in which there was an excess of tax cost over value was $1,505,400. The net unrealized depreciation was $371,283. |
ADR | American Depositary Receipt |
Total Value at 3/31/2019 | Level 1 Quoted Prices | Level 2 Significant Observable Inputs | Level 3 Significant Unobservable Inputs | |
Common Stocks: | ||||
South Korea | $ 1,139,833 | $ 1,138,627 | $ 1,206 | $ — |
Other Country Categories* | 21,127,108 | 21,127,108 | — | — |
Real Estate Investment Trusts* | 2,320,726 | 2,320,726 | — | — |
Total Investments | $ 24,587,667 | $ 24,586,461 | $ 1,206 | $— |
* | See Portfolio of Investments for country breakout. |
Currency Exposure Diversification | % of Total Investments |
EUR | 31.6% |
JPY | 17.5 |
GBP | 14.0 |
CHF | 9.5 |
CAD | 6.4 |
AUD | 5.2 |
KRW | 4.6 |
HKD | 3.7 |
SEK | 2.7 |
DKK | 1.8 |
SGD | 1.4 |
NOK | 0.8 |
ILS | 0.4 |
USD | 0.2 |
NZD | 0.2 |
Total | 100.0% |
Currency Abbreviations | |
AUD | Australian Dollar |
CAD | Canadian Dollar |
CHF | Swiss Franc |
DKK | Danish Krone |
EUR | Euro |
GBP | British Pound Sterling |
HKD | Hong Kong Dollar |
ILS | Israeli Shekel |
JPY | Japanese Yen |
KRW | South Korean Won |
NOK | Norwegian Krone |
NZD | New Zealand Dollar |
SEK | Swedish Krona |
SGD | Singapore Dollar |
USD | United States Dollar |
Shares | Description | Value | ||
COMMON STOCKS (a) – 99.2% | ||||
Brazil – 10.5% | ||||
23,630 | Ambev S.A. | $101,573 | ||
7,270 | Atacadao S.A. | 37,303 | ||
9,491 | B3 S.A. - Brasil Bolsa Balcao | 77,861 | ||
7,746 | Banco Bradesco S.A. (Preference Shares) | 84,951 | ||
9,246 | BB Seguridade Participacoes S.A. | 62,626 | ||
23,090 | BR Malls Participacoes S.A. | 74,129 | ||
1,230 | Cia Brasileira de Distribuicao (Preference Shares) | 28,732 | ||
1,891 | Cia de Saneamento Basico do Estado de Sao Paulo | 20,285 | ||
21,101 | Cosan S.A. | 229,854 | ||
1,570 | Engie Brasil Energia S.A. | 17,126 | ||
776 | Equatorial Energia S.A. | 15,856 | ||
3,510 | Fleury S.A. | 18,288 | ||
2,605 | Hypera S.A. | 17,232 | ||
3,341 | IRB Brasil Resseguros S.A. | 77,864 | ||
7,550 | Itau Unibanco Holding S.A. (Preference Shares) | 66,392 | ||
21,991 | Itausa - Investimentos Itau S.A. (Preference Shares) | 67,287 | ||
13,251 | Klabin S.A. | 57,636 | ||
3,471 | Lojas Renner S.A. | 38,829 | ||
11,871 | Multiplan Empreendimentos Imobiliarios S.A. | 70,916 | ||
1,491 | Raia Drogasil S.A. | 24,867 | ||
8,541 | Sul America S.A. | 65,006 | ||
1,031 | Telefonica Brasil S.A. (Preference Shares) | 12,508 | ||
3,450 | TIM Participacoes S.A. | 10,389 | ||
2,231 | Transmissora Alianca de Energia Eletrica S.A. | 14,131 | ||
9,651 | WEG S.A. | 44,368 | ||
1,336,009 | ||||
Chile – 1.5% | ||||
915,237 | Banco Santander Chile | 67,906 | ||
10,250 | Cencosud S.A. | 17,683 | ||
3,996 | Empresas CMPC S.A. | 13,905 | ||
1,341 | Empresas COPEC S.A. | 17,031 | ||
223,546 | Enel Americas S.A. | 39,748 | ||
2,995 | SACI Falabella | 22,105 | ||
351 | Sociedad Quimica y Minera de Chile S.A., Class B (Preference Shares) | 13,379 | ||
191,757 | ||||
China – 14.3% | ||||
259,367 | Agricultural Bank of China Ltd., Class H | 119,607 | ||
286,242 | Bank of China Ltd., Class H | 129,813 | ||
169,371 | Bank of Communications Co., Ltd., Class H | 138,734 |
Shares | Description | Value | ||
China (Continued) | ||||
89,996 | CGN Power Co., Ltd., Class H (b) | $25,107 | ||
502,494 | China Cinda Asset Management Co., Ltd., Class H | 139,547 | ||
45,000 | China Communications Construction Co., Ltd., Class H | 46,548 | ||
144,997 | China Construction Bank Corp., Class H | 124,310 | ||
55,000 | China Life Insurance Co., Ltd., Class H | 147,835 | ||
170,872 | China Minsheng Banking Corp., Ltd., Class H | 124,074 | ||
284,997 | China Petroleum & Chemical Corp., Class H | 224,732 | ||
46,246 | China Railway Group Ltd., Class H | 42,181 | ||
152,492 | China Telecom Corp., Ltd., Class H | 84,697 | ||
99,250 | GF Securities Co., Ltd., Class H | 142,618 | ||
139,747 | Haitong Securities Co., Ltd., Class H | 180,871 | ||
35,000 | Huaneng Power International, Inc., Class H | 20,331 | ||
174,997 | Industrial & Commercial Bank of China Ltd., Class H | 128,183 | ||
1,819,188 | ||||
Colombia – 0.4% | ||||
4,036 | Bancolombia S.A. (Preference Shares) | 51,146 | ||
Czech Republic – 0.2% | ||||
536 | CEZ A.S. | 12,590 | ||
251 | Komercni banka A.S. | 10,253 | ||
22,843 | ||||
Hong Kong – 6.8% | ||||
8,750 | Beijing Enterprises Holdings Ltd. | 49,602 | ||
26,250 | BOC Hong Kong Holdings Ltd. | 108,679 | ||
25,000 | China Merchants Port Holdings Co., Ltd. | 53,249 | ||
7,625 | China Mobile Ltd. | 77,707 | ||
10,000 | China Resources Power Holdings Co., Ltd. | 15,032 | ||
65,000 | China Unicom Hong Kong Ltd. | 82,389 | ||
10,000 | Guangdong Investment Ltd. | 19,312 | ||
504,985 | Lenovo Group Ltd. | 454,168 | ||
860,138 | ||||
Hungary – 0.5% | ||||
1,666 | MOL Hungarian Oil & Gas PLC | 19,071 | ||
730 | OTP Bank Nyrt | 32,120 | ||
426 | Richter Gedeon Nyrt | 8,033 | ||
59,224 | ||||
India – 20.0% | ||||
3,976 | Asian Paints Ltd. | 85,673 |
Shares | Description | Value | ||
COMMON STOCKS (a) (Continued) | ||||
India (Continued) | ||||
1,366 | Britannia Industries Ltd. | $60,841 | ||
3,655 | Colgate-Palmolive India Ltd. | 66,381 | ||
5,456 | HDFC Bank Ltd. | 182,633 | ||
1,351 | Hero MotoCorp Ltd. | 49,791 | ||
2,466 | Hindustan Unilever Ltd. | 60,757 | ||
6,235 | Housing Development Finance Corp., Ltd. | 177,150 | ||
6,486 | IndusInd Bank Ltd. | 166,656 | ||
11,205 | Infosys Ltd. | 120,315 | ||
13,366 | ITC Ltd. | 57,352 | ||
9,570 | Kotak Mahindra Bank Ltd. | 184,355 | ||
4,061 | Larsen & Toubro Ltd. | 81,208 | ||
5,980 | Mahindra & Mahindra Ltd. | 58,173 | ||
11,915 | Marico Ltd. | 59,622 | ||
540 | Maruti Suzuki India Ltd. | 52,013 | ||
61 | MRF Ltd. | 51,060 | ||
14,575 | NTPC Ltd. | 28,340 | ||
7,721 | Pidilite Industries Ltd. | 138,900 | ||
10,701 | Power Grid Corp. of India Ltd. | 30,570 | ||
21,366 | RBL Bank Ltd. (b) | 209,836 | ||
14,656 | Reliance Industries Ltd. | 288,413 | ||
3,731 | Tata Consultancy Services Ltd. | 107,804 | ||
1,270 | UltraTech Cement Ltd. | 73,301 | ||
33,540 | Wipro Ltd. | 123,363 | ||
5,035 | Zee Entertainment Enterprises Ltd. | 32,380 | ||
2,546,887 | ||||
Indonesia – 2.6% | ||||
54,235 | Adaro Energy Tbk PT | 5,123 | ||
103,320 | Astra International Tbk PT | 53,147 | ||
21,435 | Bank Central Asia Tbk PT | 41,771 | ||
76,976 | Bank Mandiri Persero Tbk PT (c) | 40,272 | ||
69,955 | Bank Negara Indonesia Persero Tbk PT (c) | 46,178 | ||
164,337 | Bank Rakyat Indonesia Persero Tbk PT | 47,547 | ||
23,040 | Bukit Asam Tbk PT | 6,796 | ||
5,736 | Indah Kiat Pulp & Paper Corp. Tbk PT | 3,464 | ||
7,270 | Pabrik Kertas Tjiwi Kimia Tbk PT | 5,629 | ||
34,741 | Perusahaan Gas Negara Persero Tbk | 5,733 | ||
174,312 | Telekomunikasi Indonesia Persero Tbk PT | 48,352 | ||
14,026 | United Tractors Tbk PT | 26,643 | ||
330,655 | ||||
Malaysia – 2.3% | ||||
22,500 | AirAsia Group Bhd | 14,660 | ||
31,100 | CIMB Group Holdings Bhd | 39,232 | ||
11,100 | Dialog Group Bhd | 8,619 | ||
11,600 | Gamuda Bhd | 8,183 |
Shares | Description | Value | ||
Malaysia (Continued) | ||||
9,000 | Genting Bhd | $14,638 | ||
5,100 | Hartalega Holdings Bhd | 5,784 | ||
6,600 | IHH Healthcare Bhd | 9,328 | ||
6,500 | Inari Amertron Bhd | 2,500 | ||
19,100 | Malayan Banking Bhd | 43,370 | ||
4,500 | Malaysia Airports Holdings Bhd | 7,980 | ||
9,600 | Petronas Chemicals Group Bhd | 21,540 | ||
7,500 | Public Bank Bhd | 42,548 | ||
15,060 | Sime Darby Bhd | 8,226 | ||
16,500 | Telekom Malaysia Bhd | 12,933 | ||
15,600 | Tenaga Nasional Bhd | 48,376 | ||
6,500 | Top Glove Corp. Bhd | 7,356 | ||
295,273 | ||||
Mexico – 4.2% | ||||
14,031 | Alfa S.A.B. de C.V., Class A | 14,877 | ||
10,045 | Alsea S.A.B. de C.V. | 21,032 | ||
150,822 | America Movil S.A.B. de C.V., Series L | 107,773 | ||
7,721 | Arca Continental S.A.B. de C.V. | 42,960 | ||
25,770 | Cemex S.A.B. de C.V. (c) | 12,029 | ||
5,040 | Fomento Economico Mexicano S.A.B. de C.V. | 46,458 | ||
3,901 | Gruma S.A.B. de C.V., Class B | 39,950 | ||
2,536 | Grupo Aeroportuario del Centro Norte S.A.B. de C.V. | 14,297 | ||
1,655 | Grupo Aeroportuario del Pacifico S.A.B. de C.V., Class B | 14,672 | ||
885 | Grupo Aeroportuario del Sureste S.A.B. de C.V., Class B | 14,302 | ||
1,041 | Grupo Elektra S.A.B. de C.V. | 56,330 | ||
6,576 | Grupo Financiero Banorte, S.A.B. de C.V., Class O | 35,725 | ||
9,655 | Grupo Mexico S.A.B. de C.V., Series B | 26,433 | ||
9,611 | Grupo Televisa S.A.B., Series CPO | 21,242 | ||
1,736 | Infraestructura Energetica Nova S.A.B. de C.V. | 6,976 | ||
8,091 | Mexichem S.A.B. de C.V. | 19,341 | ||
1,700 | Promotora y Operadora de Infraestructura S.A.B. de C.V. | 16,856 | ||
11,215 | Wal-Mart de Mexico S.A.B. de C.V. | 29,981 | ||
541,234 | ||||
Netherlands – 0.1% | ||||
315 | X5 Retail Group N.V., GDR | 7,850 | ||
Philippines – 1.0% | ||||
1,700 | Ayala Corp. | 30,432 | ||
39,500 | Ayala Land, Inc. | 33,775 | ||
23,547 | Metropolitan Bank & Trust Co. | 35,830 | ||
43,600 | SM Prime Holdings, Inc. | 33,130 | ||
133,167 |
Shares | Description | Value | ||
COMMON STOCKS (a) (Continued) | ||||
Poland – 1.3% | ||||
740 | Bank Polska Kasa Opieki S.A. | $21,201 | ||
100 | CCC S.A. | 5,605 | ||
175 | CD Projekt S.A. (c) | 9,116 | ||
221 | Dino Polska S.A. (b) (c) | 6,965 | ||
576 | Grupa Lotos S.A. | 12,512 | ||
550 | KGHM Polska Miedz S.A. (c) | 15,328 | ||
5 | LPP S.A. | 10,842 | ||
430 | Polski Koncern Naftowy ORLEN S.A. | 10,935 | ||
6,705 | Polskie Gornictwo Naftowe i Gazownictwo S.A. | 10,923 | ||
1,831 | Powszechna Kasa Oszczednosci Bank Polski S.A. | 18,399 | ||
1,980 | Powszechny Zaklad Ubezpieczen S.A. | 20,886 | ||
206 | Santander Bank Polska S.A. | 20,442 | ||
163,154 | ||||
Russia – 4.7% | ||||
4,385 | Aeroflot PJSC | 6,436 | ||
20,601 | Alrosa PJSC | 29,017 | ||
35,755 | Gazprom PJSC | 81,526 | ||
265,062 | Inter RAO UES PJSC | 15,096 | ||
1,156 | LUKOIL PJSC | 103,840 | ||
121 | Magnit PJSC | 6,712 | ||
191 | MMC Norilsk Nickel PJSC | 39,938 | ||
4,080 | Mobile TeleSystems PJSC | 15,698 | ||
4,705 | Moscow Exchange MICEX-RTS PJSC | 6,547 | ||
4,976 | Novatek PJSC | 81,767 | ||
2,015 | Severstal PJSC | 31,569 | ||
152,721 | Surgutneftegas PJSC (Preference Shares) | 95,382 | ||
6,960 | Tatneft PJSC | 80,085 | ||
593,613 | ||||
Singapore – 0.4% | ||||
6,000 | BOC Aviation Ltd. (b) | 48,956 | ||
South Africa – 6.2% | ||||
651 | Anglo American Platinum Ltd. | 33,214 | ||
2,466 | AngloGold Ashanti Ltd. | 32,745 | ||
1,355 | AVI Ltd. | 8,479 | ||
3,005 | Bid Corp., Ltd. | 62,063 | ||
5,065 | Clicks Group Ltd. | 64,664 | ||
2,805 | Discovery Ltd. | 26,595 | ||
4,806 | Investec Ltd. | 28,093 | ||
7,085 | Life Healthcare Group Holdings Ltd. | 13,179 | ||
775 | Mondi Ltd. | 17,122 | ||
1,801 | Nedbank Group Ltd. | 31,360 | ||
7,186 | Netcare Ltd. | 11,629 | ||
12,886 | Pick n Pay Stores Ltd. | 59,309 | ||
2,081 | PSG Group Ltd. | 37,715 | ||
3,105 | Remgro Ltd. | 39,867 | ||
6,025 | RMB Holdings Ltd. | 31,727 |
Shares | Description | Value | ||
South Africa (Continued) | ||||
3,395 | Sappi Ltd. | $15,682 | ||
550 | Sasol Ltd. | 17,153 | ||
4,625 | Shoprite Holdings Ltd. | 50,841 | ||
4,815 | SPAR Group (The) Ltd. | 64,032 | ||
2,725 | Standard Bank Group Ltd. | 34,982 | ||
545 | Tiger Brands Ltd. | 10,010 | ||
4,945 | Vodacom Group Ltd. | 38,189 | ||
17,871 | Woolworths Holdings Ltd. | 57,569 | ||
786,219 | ||||
Taiwan – 16.5% | ||||
38,081 | Asustek Computer, Inc. | 275,533 | ||
16,541 | Cathay Financial Holding Co., Ltd. | 24,124 | ||
51,425 | Cheng Shin Rubber Industry Co., Ltd. | 69,995 | ||
76,185 | China Development Financial Holding Corp. | 25,461 | ||
28,195 | China Life Insurance Co., Ltd. | 23,922 | ||
128,121 | China Steel Corp. | 105,172 | ||
9,716 | Chunghwa Telecom Co., Ltd. | 34,519 | ||
37,761 | CTBC Financial Holding Co., Ltd. | 25,055 | ||
38,381 | E. Sun Financial Holding Co., Ltd. | 29,576 | ||
14,681 | Far EasTone Telecommunications Co., Ltd. | 35,392 | ||
41,611 | First Financial Holding Co., Ltd. | 28,487 | ||
16,710 | Fubon Financial Holding Co., Ltd. | 24,940 | ||
46,786 | Hua Nan Financial Holdings Co., Ltd. | 29,449 | ||
366,912 | Inventec Corp. | 279,168 | ||
31,475 | Mega Financial Holding Co., Ltd. | 28,646 | ||
38,526 | Nan Ya Plastics Corp. | 98,626 | ||
76,536 | Pou Chen Corp. | 93,247 | ||
77,626 | SinoPac Financial Holdings Co., Ltd. | 28,713 | ||
58,881 | Taishin Financial Holding Co., Ltd. | 26,842 | ||
77,976 | Taiwan Business Bank | 30,360 | ||
46,535 | Taiwan Cooperative Financial Holding Co., Ltd. | 29,443 | ||
315,698 | Taiwan High Speed Rail Corp. | 368,752 | ||
9,761 | Taiwan Mobile Co., Ltd. | 35,313 | ||
244,041 | WPG Holdings Ltd. | 318,309 | ||
53,760 | Yuanta Financial Holding Co., Ltd. | 30,612 | ||
2,099,656 | ||||
Thailand – 4.9% | ||||
6,100 | Advanced Info Service PCL | 35,368 | ||
11,100 | Airports of Thailand PCL | 23,785 | ||
600 | Bangkok Bank PCL | 3,914 | ||
3,000 | Bangkok Bank PCL | 19,568 |
Shares | Description | Value | ||
COMMON STOCKS (a) (Continued) | ||||
Thailand (Continued) | ||||
24,000 | Bangkok Dusit Medical Services PCL, Class F | $18,755 | ||
84,500 | Bangkok Expressway & Metro PCL | 26,893 | ||
12,500 | Berli Jucker PCL | 19,497 | ||
97,500 | BTS Group Holdings PCL | 33,796 | ||
3,100 | Bumrungrad Hospital PCL | 17,534 | ||
9,100 | Central Pattana PCL | 21,005 | ||
23,500 | Charoen Pokphand Foods PCL | 18,883 | ||
13,000 | CP ALL PCL | 30,621 | ||
4,500 | Electricity Generating PCL | 41,405 | ||
8,500 | Intouch Holdings PCL, Class F | 15,401 | ||
160,100 | IRPC PCL | 29,008 | ||
3,500 | Kasikornbank PCL | 20,679 | ||
10,100 | Kiatnakin Bank PCL | 22,119 | ||
38,000 | Krung Thai Bank PCL | 22,990 | ||
67,000 | Land & Houses PCL | 22,590 | ||
22,000 | Minor International PCL | 27,036 | ||
20,000 | PTT PCL | 30,251 | ||
1,600 | Siam Cement (The) PCL | 24,301 | ||
5,100 | Siam Commercial Bank (The) PCL | 21,213 | ||
73,500 | Star Petroleum Refining PCL | 25,245 | ||
9,100 | Tisco Financial Group PCL | 25,306 | ||
334,600 | TMB Bank PCL | 21,509 | ||
618,672 | ||||
Turkey – 0.8% | ||||
4,950 | Akbank T.A.S. (c) | 5,611 | ||
866 | Aselsan Elektronik Sanayi Ve Ticaret A.S. | 3,305 | ||
655 | BIM Birlesik Magazalar A.S. | 8,952 | ||
4,550 | Eregli Demir ve Celik Fabrikalari T.A.S. | 7,442 | ||
545 | Ford Otomotiv Sanayi A.S. | 4,768 | ||
4,486 | Haci Omer Sabanci Holding A.S. | 6,308 | ||
3,425 | KOC Holding A.S. | 9,884 | ||
895 | TAV Havalimanlari Holding A.S. | 3,747 | ||
435 | Tupras Turkiye Petrol Rafinerileri A.S. | 9,737 | ||
2,790 | Turk Hava Yollari AO (c) | 6,470 | ||
3,591 | Turkcell Iletisim Hizmetleri A.S. | 7,787 | ||
4,441 | Turkiye Garanti Bankasi A.S. | 6,643 | ||
7,746 | Turkiye Is Bankasi A.S., Class C | 7,641 | ||
4,795 | Turkiye Sise ve Cam Fabrikalari A.S. | 5,014 | ||
9,035 | Turkiye Vakiflar Bankasi TAO, Class D | 7,341 | ||
100,650 | ||||
Virgin Islands (British) – 0.0% | ||||
300 | Mail.Ru Group Ltd., GDR (c) | 7,428 | ||
Total Common Stocks | 12,613,719 | |||
(Cost $12,401,187) |
Shares | Description | Value | ||
REAL ESTATE INVESTMENT TRUSTS (a) – 0.9% | ||||
Mexico – 0.4% | ||||
36,161 | Fibra Uno Administracion S.A. de C.V. | $49,835 | ||
South Africa – 0.5% | ||||
20,530 | Growthpoint Properties Ltd. | 34,746 | ||
47,596 | Redefine Properties Ltd. | 31,997 | ||
66,743 | ||||
Total Real Estate Investment Trusts | 116,578 | |||
(Cost $128,772) | ||||
WARRANTS (a) – 0.0% | ||||
Thailand – 0.0% | ||||
6,177 | BTS Group Holdings PCL (c) | 218 | ||
(Cost $0) | ||||
Total Investments – 100.1% | 12,730,515 | |||
(Cost $12,529,959) (d) | ||||
Net Other Assets and Liabilities – (0.1)% | (7,026) | |||
Net Assets – 100.0% | $12,723,489 |
(a) | Portfolio securities are categorized based upon their country of incorporation, which can be different from the country categorization of the Fund’s underlying index. For a breakdown of the portfolio securities by sector, please see the Fund Performance Overview. |
(b) | This security is restricted in the U.S. and cannot be offered for public sale without first being registered under the Securities Act of 1933, as amended. This security is not restricted on the foreign exchange where it trades freely without any additional registration. As such, it does not require the additional disclosure required of restricted securities. |
(c) | Non-income producing security. |
(d) | Aggregate cost for federal income tax purposes was $12,595,064. As of March 31, 2019, the aggregate gross unrealized appreciation for all investments in which there was an excess of value over tax cost was $620,799 and the aggregate gross unrealized depreciation for all investments in which there was an excess of tax cost over value was $485,348. The net unrealized appreciation was $135,451. |
GDR | Global Depositary Receipt |
Total Value at 3/31/2019 | Level 1 Quoted Prices | Level 2 Significant Observable Inputs | Level 3 Significant Unobservable Inputs | |
Common Stocks: | ||||
Thailand | $ 618,672 | $ — | $ 618,672 | $ — |
Other Country Categories* | 11,995,047 | 11,995,047 | — | — |
Real Estate Investment Trusts* | 116,578 | 116,578 | — | — |
Warrants* | 218 | — | 218 | — |
Total Investments | $ 12,730,515 | $ 12,111,625 | $ 618,890 | $— |
* | See Portfolio of Investments for country breakout. |
Currency Exposure Diversification | % of Total Investments |
HKD | 21.4% |
INR | 20.0 |
TWD | 16.5 |
BRL | 10.5 |
ZAR | 6.7 |
THB | 4.9 |
RUB | 4.7 |
MXN | 4.6 |
IDR | 2.6 |
MYR | 2.3 |
CLP | 1.5 |
PLN | 1.3 |
PHP | 1.0 |
TRY | 0.8 |
HUF | 0.5 |
COP | 0.4 |
CZK | 0.2 |
USD | 0.1 |
Total | 100.0% |
Currency Abbreviations | |
BRL | Brazilian Real |
CLP | Chilean Peso |
COP | Colombian Peso |
CZK | Czech Republic Koruna |
HKD | Hong Kong Dollar |
HUF | Hungarian Forint |
IDR | Indonesian Rupiah |
INR | Indian Rupee |
MXN | Mexican Peso |
MYR | Malaysian Ringgit |
PHP | Philippine Peso |
PLN | Polish Zloty |
RUB | Russian Ruble |
THB | Thai Baht |
TRY | Turkish Lira |
TWD | New Taiwan Dollar |
USD | United States Dollar |
ZAR | South African Rand |
Shares | Description | Value | ||
COMMON STOCKS – 94.4% | ||||
Aerospace & Defense – 2.3% | ||||
1,691 | Arconic, Inc. | $32,315 | ||
88 | Boeing (The) Co. | 33,565 | ||
181 | General Dynamics Corp. | 30,640 | ||
710 | Harris Corp. | 113,394 | ||
150 | Huntington Ingalls Industries, Inc. | 31,080 | ||
109 | Lockheed Martin Corp. | 32,717 | ||
116 | Northrop Grumman Corp. | 31,274 | ||
186 | Raytheon Co. | 33,867 | ||
395 | Spirit AeroSystems Holdings, Inc., Class A | 36,154 | ||
620 | Textron, Inc. | 31,409 | ||
268 | United Technologies Corp. | 34,543 | ||
440,958 | ||||
Air Freight & Logistics – 0.7% | ||||
339 | CH Robinson Worldwide, Inc. | 29,490 | ||
419 | Expeditors International of Washington, Inc. | 31,802 | ||
177 | FedEx Corp. | 32,109 | ||
292 | United Parcel Service, Inc., Class B | 32,628 | ||
126,029 | ||||
Airlines – 0.9% | ||||
1,590 | American Airlines Group, Inc. | 50,498 | ||
1,023 | Delta Air Lines, Inc. | 52,838 | ||
1,099 | Southwest Airlines Co. | 57,049 | ||
160,385 | ||||
Auto Components – 0.4% | ||||
882 | BorgWarner, Inc. | 33,877 | ||
249 | Lear Corp. | 33,792 | ||
67,669 | ||||
Automobiles – 0.4% | ||||
4,005 | Ford Motor Co. | 35,164 | ||
916 | General Motors Co. | 33,983 | ||
69,147 | ||||
Banks – 3.2% | ||||
1,325 | Bank of America Corp. | 36,557 | ||
753 | BB&T Corp. | 35,037 | ||
627 | Citigroup, Inc. | 39,012 | ||
1,098 | Citizens Financial Group, Inc. | 35,685 | ||
475 | Comerica, Inc. | 34,827 | ||
1,387 | Fifth Third Bancorp | 34,980 | ||
376 | First Republic Bank | 37,773 | ||
2,738 | Huntington Bancshares, Inc. | 34,718 | ||
334 | JPMorgan Chase & Co. | 33,811 | ||
2,208 | KeyCorp | 34,776 | ||
228 | M&T Bank Corp. | 35,800 | ||
279 | PNC Financial Services Group (The), Inc. | 34,222 | ||
2,439 | Regions Financial Corp. | 34,512 | ||
647 | SunTrust Banks, Inc. | 38,335 |
Shares | Description | Value | ||
Banks (Continued) | ||||
714 | US Bancorp | $34,408 | ||
708 | Wells Fargo & Co. | 34,210 | ||
801 | Zions Bancorp N.A. | 36,373 | ||
605,036 | ||||
Beverages – 1.0% | ||||
644 | Brown-Forman Corp., Class B | 33,990 | ||
647 | Coca-Cola (The) Co. | 30,319 | ||
190 | Constellation Brands, Inc., Class A | 33,313 | ||
1,195 | Keurig Dr Pepper, Inc. | 33,424 | ||
546 | Molson Coors Brewing Co., Class B | 32,569 | ||
277 | PepsiCo, Inc. | 33,946 | ||
197,561 | ||||
Biotechnology – 1.2% | ||||
883 | AbbVie, Inc. | 71,161 | ||
418 | Amgen, Inc. | 79,412 | ||
1,301 | Gilead Sciences, Inc. | 84,578 | ||
235,151 | ||||
Building Products – 0.4% | ||||
961 | Johnson Controls International PLC | 35,500 | ||
975 | Masco Corp. | 38,327 | ||
73,827 | ||||
Capital Markets – 4.2% | ||||
313 | Ameriprise Financial, Inc. | 40,095 | ||
693 | Bank of New York Mellon (The) Corp. | 34,948 | ||
83 | BlackRock, Inc. | 35,472 | ||
334 | Cboe Global Markets, Inc. | 31,877 | ||
786 | Charles Schwab (The) Corp. | 33,609 | ||
173 | CME Group, Inc. | 28,472 | ||
744 | E*TRADE Financial Corp. | 34,544 | ||
1,100 | Franklin Resources, Inc. | 36,454 | ||
195 | Goldman Sachs Group (The), Inc. | 37,438 | ||
433 | Intercontinental Exchange, Inc. | 32,969 | ||
1,950 | Invesco, Ltd. | 37,654 | ||
1,663 | KKR & Co., Inc., Class A | 39,064 | ||
233 | Moody’s Corp. | 42,194 | ||
823 | Morgan Stanley | 34,731 | ||
221 | MSCI, Inc. | 43,944 | ||
400 | Nasdaq, Inc. | 34,996 | ||
390 | Northern Trust Corp. | 35,260 | ||
439 | Raymond James Financial, Inc. | 35,300 | ||
192 | S&P Global, Inc. | 40,426 | ||
517 | State Street Corp. | 34,024 | ||
354 | T Rowe Price Group, Inc. | 35,442 | ||
667 | TD Ameritrade Holding Corp. | 33,343 | ||
792,256 |
Shares | Description | Value | ||
COMMON STOCKS (Continued) | ||||
Chemicals – 1.4% | ||||
106 | Air Products & Chemicals, Inc. | $20,242 | ||
221 | Albemarle Corp. | 18,118 | ||
189 | Celanese Corp. | 18,637 | ||
391 | CF Industries Holdings, Inc. | 15,984 | ||
318 | DowDuPont, Inc. | 16,953 | ||
232 | Eastman Chemical Co. | 17,604 | ||
115 | Ecolab, Inc. | 20,302 | ||
265 | FMC Corp. | 20,357 | ||
127 | International Flavors & Fragrances, Inc. | 16,356 | ||
204 | LyondellBasell Industries N.V., Class A | 17,152 | ||
582 | Mosaic (The) Co. | 15,894 | ||
166 | PPG Industries, Inc. | 18,737 | ||
72 | Sherwin-Williams (The) Co. | 31,011 | ||
257 | Westlake Chemical Corp. | 17,440 | ||
264,787 | ||||
Commercial Services & Supplies – 0.8% | ||||
170 | Cintas Corp. | 34,359 | ||
395 | Republic Services, Inc. | 31,750 | ||
1,415 | Rollins, Inc. | 58,892 | ||
320 | Waste Management, Inc. | 33,251 | ||
158,252 | ||||
Communications Equipment – 1.3% | ||||
2,207 | Cisco Systems, Inc. | 119,156 | ||
831 | Motorola Solutions, Inc. | 116,689 | ||
235,845 | ||||
Construction & Engineering – 0.2% | ||||
488 | Jacobs Engineering Group, Inc. | 36,693 | ||
Construction Materials – 0.4% | ||||
166 | Martin Marietta Materials, Inc. | 33,396 | ||
289 | Vulcan Materials Co. | 34,217 | ||
67,613 | ||||
Consumer Finance – 1.0% | ||||
1,440 | Ally Financial, Inc. | 39,586 | ||
342 | American Express Co. | 37,381 | ||
432 | Capital One Financial Corp. | 35,290 | ||
553 | Discover Financial Services | 39,351 | ||
1,391 | Synchrony Financial | 44,373 | ||
195,981 | ||||
Containers & Packaging – 0.7% | ||||
189 | Avery Dennison Corp. | 21,357 | ||
620 | Ball Corp. | 35,873 | ||
421 | International Paper Co. | 19,480 | ||
342 | Packaging Corp. of America | 33,988 |
Shares | Description | Value | ||
Containers & Packaging (Continued) | ||||
755 | WestRock Co. | $28,954 | ||
139,652 | ||||
Distributors – 0.2% | ||||
319 | Genuine Parts Co. | 35,738 | ||
Diversified Financial Services – 0.2% | ||||
1,963 | AXA Equitable Holdings, Inc. | 39,535 | ||
Diversified Telecommunication Services – 2.0% | ||||
4,454 | AT&T, Inc. | 139,677 | ||
8,390 | CenturyLink, Inc. | 100,596 | ||
2,261 | Verizon Communications, Inc. | 133,693 | ||
373,966 | ||||
Electric Utilities – 1.7% | ||||
516 | Alliant Energy Corp. | 24,319 | ||
292 | American Electric Power Co., Inc. | 24,455 | ||
253 | Duke Energy Corp. | 22,770 | ||
384 | Edison International | 23,777 | ||
253 | Entergy Corp. | 24,195 | ||
384 | Evergy, Inc. | 22,291 | ||
335 | Eversource Energy | 23,768 | ||
483 | Exelon Corp. | 24,213 | ||
580 | FirstEnergy Corp. | 24,134 | ||
125 | NextEra Energy, Inc. | 24,165 | ||
769 | PPL Corp. | 24,408 | ||
496 | Southern (The) Co. | 25,633 | ||
442 | Xcel Energy, Inc. | 24,845 | ||
312,973 | ||||
Electrical Equipment – 0.7% | ||||
421 | AMETEK, Inc. | 34,930 | ||
415 | Eaton Corp. PLC | 33,433 | ||
477 | Emerson Electric Co. | 32,660 | ||
189 | Rockwell Automation, Inc. | 33,162 | ||
134,185 | ||||
Electronic Equipment, Instruments & Components – 1.5% | ||||
352 | Amphenol Corp., Class A | 33,243 | ||
1,180 | CDW Corp. | 113,717 | ||
3,165 | Corning, Inc. | 104,761 | ||
377 | TE Connectivity Ltd. | 30,443 | ||
282,164 | ||||
Energy Equipment & Services – 0.8% | ||||
1,595 | Baker Hughes a GE Co. | 44,213 | ||
1,290 | Halliburton Co. | 37,797 | ||
1,334 | National Oilwell Varco, Inc. | 35,538 |
Shares | Description | Value | ||
COMMON STOCKS (Continued) | ||||
Energy Equipment & Services (Continued) | ||||
950 | Schlumberger Ltd. | $41,392 | ||
158,940 | ||||
Entertainment – 0.7% | ||||
658 | Activision Blizzard, Inc. | 29,959 | ||
1,987 | Viacom, Inc., Class B | 55,775 | ||
466 | Walt Disney (The) Co. | 51,740 | ||
137,474 | ||||
Food & Staples Retailing – 1.4% | ||||
251 | Costco Wholesale Corp. | 60,777 | ||
1,857 | Kroger (The) Co. | 45,682 | ||
815 | Sysco Corp. | 54,409 | ||
747 | Walgreens Boots Alliance, Inc. | 47,263 | ||
548 | Walmart, Inc. | 53,447 | ||
261,578 | ||||
Food Products – 2.5% | ||||
748 | Archer-Daniels-Midland Co. | 32,261 | ||
573 | Bunge Ltd. | 30,409 | ||
929 | Campbell Soup Co. | 35,423 | ||
1,434 | Conagra Brands, Inc. | 39,779 | ||
787 | General Mills, Inc. | 40,727 | ||
286 | Hershey (The) Co. | 32,841 | ||
718 | Hormel Foods Corp. | 32,138 | ||
328 | JM Smucker (The) Co. | 38,212 | ||
537 | Kellogg Co. | 30,813 | ||
712 | Kraft Heinz (The) Co. | 23,247 | ||
416 | Lamb Weston Holdings, Inc. | 31,175 | ||
220 | McCormick & Co., Inc. | 33,139 | ||
765 | Mondelez International, Inc., Class A | 38,189 | ||
574 | Tyson Foods, Inc., Class A | 39,853 | ||
478,206 | ||||
Gas Utilities – 0.1% | ||||
235 | Atmos Energy Corp. | 24,189 | ||
Health Care Equipment & Supplies – 5.2% | ||||
1,125 | Abbott Laboratories | 89,932 | ||
1,236 | Baxter International, Inc. | 100,499 | ||
361 | Becton Dickinson and Co. | 90,153 | ||
320 | Cooper (The) Cos., Inc. | 94,774 | ||
276 | Danaher Corp. | 36,438 | ||
2,187 | DENTSPLY SIRONA, Inc. | 108,453 | ||
895 | Medtronic PLC | 81,517 | ||
715 | ResMed, Inc. | 74,339 | ||
519 | Stryker Corp. | 102,513 | ||
315 | Teleflex, Inc. | 95,180 | ||
785 | Zimmer Biomet Holdings, Inc. | 100,244 | ||
974,042 |
Shares | Description | Value | ||
Health Care Providers & Services – 4.0% | ||||
686 | AmerisourceBergen Corp. | $54,551 | ||
310 | Anthem, Inc. | 88,964 | ||
1,145 | Cardinal Health, Inc. | 55,132 | ||
428 | Cigna Corp. | 68,831 | ||
654 | HCA Healthcare, Inc. | 85,268 | ||
284 | Humana, Inc. | 75,544 | ||
462 | McKesson Corp. | 54,082 | ||
977 | Quest Diagnostics, Inc. | 87,852 | ||
327 | UnitedHealth Group, Inc. | 80,854 | ||
698 | Universal Health Services, Inc., Class B | 93,371 | ||
744,449 | ||||
Hotels, Restaurants & Leisure – 4.6% | ||||
1,763 | Aramark | 52,097 | ||
1,036 | Carnival Corp. | 52,546 | ||
511 | Darden Restaurants, Inc. | 62,071 | ||
206 | Domino’s Pizza, Inc. | 53,168 | ||
711 | Hilton Worldwide Holdings, Inc. | 59,091 | ||
981 | Las Vegas Sands Corp. | 59,802 | ||
470 | Marriott International, Inc., Class A | 58,792 | ||
288 | McDonald’s Corp. | 54,691 | ||
2,105 | MGM Resorts International | 54,014 | ||
522 | Royal Caribbean Cruises Ltd. | 59,832 | ||
793 | Starbucks Corp. | 58,952 | ||
242 | Vail Resorts, Inc. | 52,587 | ||
516 | Wynn Resorts Ltd. | 61,569 | ||
1,523 | Yum China Holdings, Inc. | 68,398 | ||
556 | Yum! Brands, Inc. | 55,494 | ||
863,104 | ||||
Household Durables – 0.8% | ||||
884 | DR Horton, Inc. | 36,580 | ||
484 | Garmin Ltd. | 41,793 | ||
783 | Lennar Corp., Class A | 38,438 | ||
1,648 | Newell Brands, Inc. | 25,280 | ||
142,091 | ||||
Household Products – 0.9% | ||||
466 | Church & Dwight Co., Inc. | 33,193 | ||
199 | Clorox (The) Co. | 31,932 | ||
515 | Colgate-Palmolive Co. | 35,298 | ||
269 | Kimberly-Clark Corp. | 33,329 | ||
333 | Procter & Gamble (The) Co. | 34,649 | ||
168,401 | ||||
Independent Power and Renewable Electricity Producers – 0.1% | ||||
550 | NRG Energy, Inc. | 23,364 | ||
Industrial Conglomerates – 0.7% | ||||
150 | 3M Co. | 31,167 |
Shares | Description | Value | ||
COMMON STOCKS (Continued) | ||||
Industrial Conglomerates (Continued) | ||||
3,917 | General Electric Co. | $39,131 | ||
216 | Honeywell International, Inc. | 34,326 | ||
107 | Roper Technologies, Inc. | 36,591 | ||
141,215 | ||||
Insurance – 3.3% | ||||
716 | Aflac, Inc. | 35,800 | ||
395 | Allstate (The) Corp. | 37,201 | ||
361 | American Financial Group, Inc. | 34,732 | ||
828 | American International Group, Inc. | 35,654 | ||
443 | Arthur J. Gallagher & Co. | 34,598 | ||
253 | Chubb Ltd. | 35,440 | ||
422 | Cincinnati Financial Corp. | 36,250 | ||
1,038 | Fidelity National Financial, Inc. | 37,939 | ||
734 | Hartford Financial Services Group (The), Inc. | 36,494 | ||
636 | Lincoln National Corp. | 37,333 | ||
717 | Loews Corp. | 34,366 | ||
795 | MetLife, Inc. | 33,843 | ||
739 | Principal Financial Group, Inc. | 37,090 | ||
541 | Progressive (The) Corp. | 39,001 | ||
400 | Prudential Financial, Inc. | 36,752 | ||
438 | Torchmark Corp. | 35,894 | ||
273 | Travelers (The) Cos., Inc. | 37,445 | ||
615,832 | ||||
Internet & Direct Marketing Retail – 0.3% | ||||
453 | Expedia Group, Inc. | 53,907 | ||
IT Services – 4.5% | ||||
202 | Accenture PLC, Class A | 35,556 | ||
190 | Alliance Data Systems Corp. | 33,246 | ||
217 | Automatic Data Processing, Inc. | 34,664 | ||
296 | Broadridge Financial Solutions, Inc. | 30,692 | ||
1,506 | Cognizant Technology Solutions Corp., Class A | 109,110 | ||
1,799 | DXC Technology Co. | 115,694 | ||
278 | Fidelity National Information Services, Inc. | 31,442 | ||
276 | Global Payments, Inc. | 37,679 | ||
841 | International Business Machines Corp. | 118,665 | ||
225 | Jack Henry & Associates, Inc. | 31,216 | ||
1,814 | Leidos Holdings, Inc. | 116,259 | ||
173 | Mastercard, Inc., Class A | 40,733 | ||
438 | Paychex, Inc. | 35,128 | ||
351 | Total System Services, Inc. | 33,348 | ||
247 | Visa, Inc., Class A | 38,579 | ||
842,011 | ||||
Leisure Products – 0.2% | ||||
377 | Hasbro, Inc. | 32,053 |
Shares | Description | Value | ||
Life Sciences Tools & Services – 0.7% | ||||
423 | Agilent Technologies, Inc. | $34,001 | ||
364 | Thermo Fisher Scientific, Inc. | 99,634 | ||
133,635 | ||||
Machinery – 2.3% | ||||
224 | Caterpillar, Inc. | 30,350 | ||
213 | Cummins, Inc. | 33,626 | ||
191 | Deere & Co. | 30,530 | ||
402 | Dover Corp. | 37,708 | ||
421 | Fortive Corp. | 35,318 | ||
226 | IDEX Corp. | 34,293 | ||
225 | Illinois Tool Works, Inc. | 32,294 | ||
312 | Ingersoll-Rand PLC | 33,680 | ||
499 | PACCAR, Inc. | 34,002 | ||
191 | Parker-Hannifin Corp. | 32,779 | ||
256 | Stanley Black & Decker, Inc. | 34,860 | ||
406 | Wabtec Corp. | 29,930 | ||
427 | Xylem, Inc. | 33,750 | ||
433,120 | ||||
Media – 1.2% | ||||
1,168 | CBS Corp., Class B | 55,515 | ||
1,500 | Comcast Corp., Class A | 59,970 | ||
697 | Omnicom Group, Inc. | 50,874 | ||
8,944 | Sirius XM Holdings, Inc. | 50,713 | ||
217,072 | ||||
Metals & Mining – 0.4% | ||||
1,649 | Freeport-McMoRan, Inc. | 21,255 | ||
491 | Newmont Mining Corp. | 17,563 | ||
328 | Nucor Corp. | 19,139 | ||
566 | Steel Dynamics, Inc. | 19,963 | ||
77,920 | ||||
Multiline Retail – 1.1% | ||||
473 | Dollar General Corp. | 56,429 | ||
770 | Kohl’s Corp. | 52,953 | ||
1,715 | Macy’s, Inc. | 41,211 | ||
773 | Target Corp. | 62,041 | ||
212,634 | ||||
Multi-Utilities – 1.2% | ||||
334 | Ameren Corp. | 24,566 | ||
772 | Centerpoint Energy, Inc. | 23,700 | ||
439 | CMS Energy Corp. | 24,382 | ||
285 | Consolidated Edison, Inc. | 24,171 | ||
305 | Dominion Energy, Inc. | 23,381 | ||
198 | DTE Energy Co. | 24,699 | ||
419 | Public Service Enterprise Group, Inc. | 24,893 | ||
201 | Sempra Energy | 25,298 | ||
315 | WEC Energy Group, Inc. | 24,910 | ||
220,000 |
Shares | Description | Value | ||
COMMON STOCKS (Continued) | ||||
Oil, Gas & Consumable Fuels – 4.7% | ||||
782 | Anadarko Petroleum Corp. | $35,565 | ||
1,306 | Apache Corp. | 45,266 | ||
1,534 | Cabot Oil & Gas Corp. | 40,037 | ||
315 | Chevron Corp. | 38,802 | ||
550 | ConocoPhillips | 36,707 | ||
1,521 | Devon Energy Corp. | 48,003 | ||
370 | Diamondback Energy, Inc. | 37,566 | ||
393 | EOG Resources, Inc. | 37,406 | ||
1,815 | EQT Corp. | 37,643 | ||
503 | Exxon Mobil Corp. | 40,642 | ||
847 | Hess Corp. | 51,015 | ||
671 | HollyFrontier Corp. | 33,060 | ||
2,229 | Kinder Morgan, Inc. | 44,602 | ||
2,391 | Marathon Oil Corp. | 39,954 | ||
581 | Marathon Petroleum Corp. | 34,773 | ||
1,828 | Noble Energy, Inc. | 45,206 | ||
559 | Occidental Petroleum Corp. | 37,006 | ||
636 | ONEOK, Inc. | 44,418 | ||
398 | Phillips 66 | 37,878 | ||
952 | Targa Resources Corp. | 39,556 | ||
457 | Valero Energy Corp. | 38,767 | ||
1,555 | Williams (The) Cos., Inc. | 44,660 | ||
888,532 | ||||
Personal Products – 0.5% | ||||
4,670 | Coty, Inc., Class A | 53,705 | ||
235 | Estee Lauder (The) Cos., Inc., Class A | 38,904 | ||
92,609 | ||||
Pharmaceuticals – 3.8% | ||||
609 | Allergan PLC | 89,164 | ||
1,566 | Bristol-Myers Squibb Co. | 74,714 | ||
703 | Eli Lilly & Co. | 91,221 | ||
631 | Johnson & Johnson | 88,208 | ||
1,065 | Merck & Co., Inc. | 88,576 | ||
2,100 | Perrigo Co. PLC | 101,136 | ||
1,864 | Pfizer, Inc. | 79,164 | ||
951 | Zoetis, Inc. | 95,737 | ||
707,920 | ||||
Professional Services – 0.4% | ||||
350 | Equifax, Inc. | 41,475 | ||
502 | TransUnion | 33,554 | ||
75,029 | ||||
Road & Rail – 1.1% | ||||
459 | CSX Corp. | 34,342 | ||
306 | JB Hunt Transport Services, Inc. | 30,995 | ||
299 | Kansas City Southern | 34,678 | ||
191 | Norfolk Southern Corp. | 35,696 | ||
231 | Old Dominion Freight Line, Inc. | 33,354 | ||
206 | Union Pacific Corp. | 34,443 | ||
203,508 |
Shares | Description | Value | ||
Semiconductors & Semiconductor Equipment – 8.7% | ||||
1,114 | Analog Devices, Inc. | $117,271 | ||
2,921 | Applied Materials, Inc. | 115,847 | ||
376 | Broadcom, Inc. | 113,067 | ||
2,038 | Intel Corp. | 109,441 | ||
1,069 | KLA-Tencor Corp. | 127,649 | ||
702 | Lam Research Corp. | 125,665 | ||
5,906 | Marvell Technology Group Ltd. | 117,470 | ||
1,881 | Maxim Integrated Products, Inc. | 100,013 | ||
1,330 | Microchip Technology, Inc. | 110,337 | ||
716 | NVIDIA Corp. | 128,565 | ||
1,680 | QUALCOMM, Inc. | 95,810 | ||
1,427 | Skyworks Solutions, Inc. | 117,699 | ||
1,012 | Texas Instruments, Inc. | 107,343 | ||
1,123 | Xilinx, Inc. | 142,385 | ||
1,628,562 | ||||
Software – 3.7% | ||||
933 | Citrix Systems, Inc. | 92,983 | ||
486 | Intuit, Inc. | 127,045 | ||
941 | Microsoft Corp. | 110,982 | ||
2,118 | Oracle Corp. | 113,758 | ||
2,120 | SS&C Technologies Holdings, Inc. | 135,023 | ||
5,061 | Symantec Corp. | 116,352 | ||
696,143 | ||||
Specialty Retail – 2.5% | ||||
324 | Advance Auto Parts, Inc. | 55,252 | ||
964 | Best Buy Co., Inc. | 68,502 | ||
1,983 | Gap (The), Inc. | 51,915 | ||
297 | Home Depot (The), Inc. | 56,991 | ||
553 | Lowe’s Cos., Inc. | 60,537 | ||
614 | Ross Stores, Inc. | 57,163 | ||
634 | Tiffany & Co. | 66,919 | ||
1,141 | TJX (The) Cos., Inc. | 60,712 | ||
477,991 | ||||
Technology Hardware, Storage & Peripherals – 3.6% | ||||
606 | Apple, Inc. | 115,110 | ||
7,239 | Hewlett Packard Enterprise Co. | 111,698 | ||
4,674 | HP, Inc. | 90,816 | ||
1,603 | NetApp, Inc. | 111,152 | ||
2,478 | Seagate Technology PLC | 118,671 | ||
2,587 | Western Digital Corp. | 124,331 | ||
671,778 | ||||
Textiles, Apparel & Luxury Goods – 0.8% | ||||
413 | NIKE, Inc., Class B | 34,779 | ||
330 | PVH Corp. | 40,243 | ||
908 | Tapestry, Inc. | 29,501 | ||
429 | VF Corp. | 37,284 | ||
141,807 |
Shares | Description | Value | ||
COMMON STOCKS (Continued) | ||||
Tobacco – 0.4% | ||||
620 | Altria Group, Inc. | $35,607 | ||
459 | Philip Morris International, Inc. | 40,571 | ||
76,178 | ||||
Trading Companies & Distributors – 0.3% | ||||
545 | Fastenal Co. | 35,049 | ||
101 | WW Grainger, Inc. | 30,394 | ||
65,443 | ||||
Water Utilities – 0.1% | ||||
240 | American Water Works Co., Inc. | 25,022 | ||
Total Common Stocks | 17,751,162 | |||
(Cost $17,838,943) | ||||
REAL ESTATE INVESTMENT TRUSTS – 5.4% | ||||
Equity Real Estate Investment Trusts – 5.2% | ||||
283 | Alexandria Real Estate Equities, Inc. | 40,344 | ||
206 | American Tower Corp. | 40,594 | ||
188 | AvalonBay Communities, Inc. | 37,737 | ||
290 | Boston Properties, Inc. | 38,825 | ||
300 | Crown Castle International Corp. | 38,400 | ||
306 | Digital Realty Trust, Inc. | 36,414 | ||
1,260 | Duke Realty Corp. | 38,531 | ||
93 | Equinix, Inc. | 42,144 | ||
494 | Equity Residential | 37,208 | ||
133 | Essex Property Trust, Inc. | 38,469 | ||
361 | Extra Space Storage, Inc. | 36,790 | ||
1,169 | HCP, Inc. | 36,590 | ||
1,958 | Host Hotels & Resorts, Inc. | 37,006 | ||
1,625 | Invitation Homes, Inc. | 39,536 | ||
1,007 | Iron Mountain, Inc. | 35,708 | ||
341 | Mid-America Apartment Communities, Inc. | 37,282 | ||
556 | Prologis, Inc. | 40,004 | ||
161 | Public Storage | 35,063 | ||
518 | Realty Income Corp. | 38,104 | ||
556 | Regency Centers Corp. | 37,524 | ||
194 | Simon Property Group, Inc. | 35,349 | ||
824 | UDR, Inc. | 37,459 | ||
557 | Ventas, Inc. | 35,542 | ||
526 | Vornado Realty Trust | 35,473 | ||
470 | Welltower, Inc. | 36,472 | ||
1,493 | Weyerhaeuser Co. | 39,326 | ||
981,894 |
Shares | Description | Value | ||
Mortgage Real Estate Investment Trusts – 0.2% | ||||
3,324 | Annaly Capital Management, Inc. | $33,207 | ||
Total Real Estate Investment Trusts | 1,015,101 | |||
(Cost $938,987) | ||||
Total Investments – 99.8% | 18,766,263 | |||
(Cost $18,777,930) (a) | ||||
Net Other Assets and Liabilities – 0.2% | 33,381 | |||
Net Assets – 100.0% | $18,799,644 |
(a) | Aggregate cost for federal income tax purposes was $18,881,351. As of March 31, 2019, the aggregate gross unrealized appreciation for all investments in which there was an excess of value over tax cost was $1,303,991 and the aggregate gross unrealized depreciation for all investments in which there was an excess of tax cost over value was $1,419,079. The net unrealized depreciation was $115,088. |
Total Value at 3/31/2019 | Level 1 Quoted Prices | Level 2 Significant Observable Inputs | Level 3 Significant Unobservable Inputs | |
Common Stocks* | $ 17,751,162 | $ 17,751,162 | $ — | $ — |
Real Estate Investment Trusts* | 1,015,101 | 1,015,101 | — | — |
Total Investments | $ 18,766,263 | $ 18,766,263 | $— | $— |
* | See Portfolio of Investments for industry breakout. |
Shares | Description | Value | ||
COMMON STOCKS – 87.5% | ||||
Aerospace & Defense – 1.1% | ||||
798 | BWX Technologies, Inc. | $39,565 | ||
298 | Curtiss-Wright Corp. | 33,775 | ||
394 | HEICO Corp. | 37,379 | ||
532 | Hexcel Corp. | 36,793 | ||
147,512 | ||||
Airlines – 0.6% | ||||
587 | Alaska Air Group, Inc. | 32,942 | ||
802 | SkyWest, Inc. | 43,541 | ||
76,483 | ||||
Auto Components – 1.0% | ||||
2,343 | Adient PLC | 30,365 | ||
2,589 | Dana, Inc. | 45,929 | ||
1,746 | Gentex Corp. | 36,107 | ||
1,729 | Goodyear Tire & Rubber (The) Co. | 31,382 | ||
143,783 | ||||
Automobiles – 0.6% | ||||
1,034 | Harley-Davidson, Inc. | 36,873 | ||
679 | Thor Industries, Inc. | 42,349 | ||
79,222 | ||||
Banks – 8.4% | ||||
1,220 | Associated Banc-Corp. | 26,047 | ||
924 | BancorpSouth Bank | 26,075 | ||
358 | Bank of Hawaii Corp. | 28,235 | ||
1,058 | Bank OZK | 30,661 | ||
806 | BankUnited, Inc. | 26,920 | ||
330 | BOK Financial Corp. | 26,912 | ||
720 | Cathay General Bancorp | 24,415 | ||
659 | Chemical Financial Corp. | 27,124 | ||
631 | CIT Group, Inc. | 30,269 | ||
668 | Columbia Banking System, Inc. | 21,837 | ||
428 | Commerce Bancshares, Inc. | 24,850 | ||
414 | Community Bank System, Inc. | 24,745 | ||
275 | Cullen/Frost Bankers, Inc. | 26,694 | ||
554 | East West Bancorp, Inc. | 26,575 | ||
64 | First Citizens BancShares, Inc., Class A | 26,061 | ||
1,018 | First Financial Bancorp | 24,493 | ||
419 | First Financial Bankshares, Inc. | 24,210 | ||
1,073 | First Hawaiian, Inc. | 27,952 | ||
1,835 | First Horizon National Corp. | 25,653 | ||
2,453 | FNB Corp. | 26,002 | ||
1,560 | Fulton Financial Corp. | 24,149 | ||
609 | Glacier Bancorp, Inc. | 24,403 | ||
696 | Hancock Whitney Corp. | 28,118 | ||
1,477 | Home BancShares, Inc. | 25,951 | ||
375 | IBERIABANK Corp. | 26,891 | ||
702 | International Bancshares Corp. | 26,697 | ||
2,321 | Investors Bancorp, Inc. | 27,504 | ||
1,567 | Old National Bancorp | 25,699 | ||
725 | PacWest Bancorp | 27,267 | ||
1,673 | People’s United Financial, Inc. | 27,504 |
Shares | Description | Value | ||
Banks (Continued) | ||||
524 | Pinnacle Financial Partners, Inc. | $28,663 | ||
512 | Popular, Inc. | 26,691 | ||
387 | Prosperity Bancshares, Inc. | 26,726 | ||
235 | Signature Bank | 30,096 | ||
403 | South State Corp. | 27,541 | ||
1,463 | Sterling Bancorp | 27,256 | ||
755 | Synovus Financial Corp. | 25,942 | ||
1,239 | TCF Financial Corp. | 25,635 | ||
396 | UMB Financial Corp. | 25,360 | ||
1,518 | Umpqua Holdings Corp. | 25,047 | ||
776 | United Bankshares, Inc. | 28,122 | ||
2,719 | Valley National Bancorp | 26,048 | ||
490 | Webster Financial Corp. | 24,828 | ||
363 | Wintrust Financial Corp. | 24,441 | ||
1,162,309 | ||||
Building Products – 1.8% | ||||
383 | Allegion PLC | 34,742 | ||
714 | AO Smith Corp. | 38,071 | ||
524 | Armstrong World Industries, Inc. | 41,616 | ||
802 | Fortune Brands Home & Security, Inc. | 38,183 | ||
139 | Lennox International, Inc. | 36,752 | ||
693 | Owens Corning | 32,654 | ||
564 | Simpson Manufacturing Co., Inc. | 33,428 | ||
255,446 | ||||
Capital Markets – 2.6% | ||||
248 | Affiliated Managers Group, Inc. | 26,563 | ||
4,670 | BGC Partners, Inc., Class A | 24,798 | ||
686 | Eaton Vance Corp. | 27,653 | ||
337 | Evercore, Inc., Class A | 30,667 | ||
178 | FactSet Research Systems, Inc. | 44,192 | ||
663 | Lazard Ltd., Class A | 23,961 | ||
946 | Legg Mason, Inc. | 25,892 | ||
396 | LPL Financial Holdings, Inc. | 27,581 | ||
114 | MarketAxess Holdings, Inc. | 28,053 | ||
325 | Morningstar, Inc. | 40,947 | ||
523 | SEI Investments Co. | 27,327 | ||
583 | Stifel Financial Corp. | 30,759 | ||
358,393 | ||||
Chemicals – 2.8% | ||||
337 | Ashland Global Holdings, Inc. | 26,330 | ||
306 | Balchem Corp. | 28,397 | ||
556 | Cabot Corp. | 23,146 | ||
847 | Chemours (The) Co. | 31,475 | ||
1,239 | Huntsman Corp. | 27,865 | ||
58 | NewMarket Corp. | 25,146 | ||
1,189 | Olin Corp. | 27,513 | ||
836 | PolyOne Corp. | 24,503 | ||
407 | RPM International, Inc. | 23,622 | ||
389 | Scotts Miracle-Gro (The) Co. | 30,568 | ||
428 | Sensient Technologies Corp. | 29,014 | ||
522 | Trinseo S.A. | 23,647 | ||
1,824 | Valvoline, Inc. | 33,853 |
Shares | Description | Value | ||
COMMON STOCKS (Continued) | ||||
Chemicals (Continued) | ||||
369 | WR Grace & Co. | $28,797 | ||
383,876 | ||||
Commercial Services & Supplies – 2.2% | ||||
5,073 | ADT, Inc. | 32,416 | ||
472 | Brink’s (The) Co. | 35,594 | ||
3,749 | Healthcare Services Group, Inc. | 123,679 | ||
748 | KAR Auction Services, Inc. | 38,380 | ||
323 | MSA Safety, Inc. | 33,398 | ||
589 | Tetra Tech, Inc. | 35,099 | ||
298,566 | ||||
Communications Equipment – 0.6% | ||||
3,402 | Juniper Networks, Inc. | 90,051 | ||
Construction & Engineering – 1.1% | ||||
511 | EMCOR Group, Inc. | 37,344 | ||
947 | Fluor Corp. | 34,850 | ||
1,013 | Quanta Services, Inc. | 38,231 | ||
275 | Valmont Industries, Inc. | 35,777 | ||
146,202 | ||||
Construction Materials – 0.3% | ||||
500 | Eagle Materials, Inc. | 42,150 | ||
Consumer Finance – 0.6% | ||||
333 | FirstCash, Inc. | 28,805 | ||
2,740 | Navient Corp. | 31,702 | ||
1,372 | Santander Consumer USA Holdings, Inc. | 28,990 | ||
89,497 | ||||
Containers & Packaging – 1.6% | ||||
324 | AptarGroup, Inc. | 34,470 | ||
2,866 | Graphic Packaging Holding Co. | 36,198 | ||
1,768 | Owens-Illinois, Inc. | 33,557 | ||
875 | Sealed Air Corp. | 40,303 | ||
1,291 | Silgan Holdings, Inc. | 38,252 | ||
574 | Sonoco Products Co. | 35,318 | ||
218,098 | ||||
Distributors – 0.3% | ||||
238 | Pool Corp. | 39,263 | ||
Diversified Consumer Services – 0.5% | ||||
1,407 | H&R Block, Inc. | 33,684 | ||
887 | Service Corp. International | 35,613 | ||
69,297 | ||||
Diversified Financial Services – 0.5% | ||||
2,033 | Jefferies Financial Group, Inc. | 38,200 |
Shares | Description | Value | ||
Diversified Financial Services (Continued) | ||||
602 | Voya Financial, Inc. | $30,076 | ||
68,276 | ||||
Electric Utilities – 1.5% | ||||
345 | ALLETE, Inc. | 28,369 | ||
717 | Hawaiian Electric Industries, Inc. | 29,232 | ||
282 | IDACORP, Inc. | 28,070 | ||
868 | OGE Energy Corp. | 37,428 | ||
308 | Pinnacle West Capital Corp. | 29,439 | ||
639 | PNM Resources, Inc. | 30,250 | ||
572 | Portland General Electric Co. | 29,653 | ||
212,441 | ||||
Electrical Equipment – 0.9% | ||||
266 | Acuity Brands, Inc. | 31,923 | ||
393 | EnerSys | 25,608 | ||
306 | Hubbell, Inc. | 36,102 | ||
436 | Regal Beloit Corp. | 35,695 | ||
129,328 | ||||
Electronic Equipment, Instruments & Components – 3.0% | ||||
844 | Avnet, Inc. | 36,604 | ||
1,999 | AVX Corp. | 34,663 | ||
788 | Cognex Corp. | 40,078 | ||
577 | Dolby Laboratories, Inc., Class A | 36,334 | ||
700 | FLIR Systems, Inc. | 33,306 | ||
1,229 | Jabil, Inc. | 32,679 | ||
177 | Littelfuse, Inc. | 32,299 | ||
671 | National Instruments Corp. | 29,765 | ||
1,133 | SYNNEX Corp. | 108,077 | ||
1,693 | Vishay Intertechnology, Inc. | 31,270 | ||
415,075 | ||||
Energy Equipment & Services – 1.2% | ||||
571 | Core Laboratories N.V. | 39,359 | ||
710 | Helmerich & Payne, Inc. | 39,447 | ||
3,289 | Patterson-UTI Energy, Inc. | 46,112 | ||
3,449 | RPC, Inc. | 39,353 | ||
164,271 | ||||
Entertainment – 0.6% | ||||
997 | Cinemark Holdings, Inc. | 39,870 | ||
477 | World Wrestling Entertainment, Inc., Class A | 41,394 | ||
81,264 | ||||
Food & Staples Retailing – 0.3% | ||||
279 | Casey’s General Stores, Inc. | 35,927 | ||
Food Products – 0.8% | ||||
1,910 | Flowers Foods, Inc. | 40,721 | ||
386 | Ingredion, Inc. | 36,551 |
Shares | Description | Value | ||
COMMON STOCKS (Continued) | ||||
Food Products (Continued) | ||||
200 | Lancaster Colony Corp. | $31,338 | ||
108,610 | ||||
Gas Utilities – 1.5% | ||||
513 | National Fuel Gas Co. | 31,272 | ||
575 | New Jersey Resources Corp. | 28,629 | ||
330 | ONE Gas, Inc. | 29,380 | ||
944 | South Jersey Industries, Inc. | 30,274 | ||
343 | Southwest Gas Holdings, Inc. | 28,215 | ||
355 | Spire, Inc. | 29,213 | ||
492 | UGI Corp. | 27,267 | ||
204,250 | ||||
Health Care Equipment & Supplies – 3.5% | ||||
2,023 | Cantel Medical Corp. | 135,319 | ||
1,701 | Hill-Rom Holdings, Inc. | 180,068 | ||
1,537 | West Pharmaceutical Services, Inc. | 169,377 | ||
484,764 | ||||
Health Care Providers & Services – 1.3% | ||||
126 | Chemed Corp. | 40,329 | ||
2,441 | Encompass Health Corp. | 142,554 | ||
182,883 | ||||
Hotels, Restaurants & Leisure – 3.5% | ||||
1,718 | Boyd Gaming Corp. | 47,004 | ||
499 | Choice Hotels International, Inc. | 38,792 | ||
439 | Churchill Downs, Inc. | 39,624 | ||
223 | Cracker Barrel Old Country Store, Inc. | 36,039 | ||
556 | Dunkin’ Brands Group, Inc. | 41,756 | ||
528 | Hyatt Hotels Corp., Class A | 38,317 | ||
506 | Marriott Vacations Worldwide Corp. | 47,311 | ||
642 | Six Flags Entertainment Corp. | 31,683 | ||
598 | Texas Roadhouse, Inc. | 37,190 | ||
2,286 | Wendy’s (The) Co. | 40,896 | ||
995 | Wyndham Destinations, Inc. | 40,288 | ||
787 | Wyndham Hotels & Resorts, Inc. | 39,342 | ||
478,242 | ||||
Household Durables – 1.2% | ||||
984 | Leggett & Platt, Inc. | 41,544 | ||
1,358 | PulteGroup, Inc. | 37,970 | ||
1,072 | Toll Brothers, Inc. | 38,806 | ||
331 | Whirlpool Corp. | 43,987 | ||
162,307 | ||||
Household Products – 0.6% | ||||
782 | Energizer Holdings, Inc. | 35,135 |
Shares | Description | Value | ||
Household Products (Continued) | ||||
835 | Spectrum Brands Holdings, Inc. | $45,742 | ||
80,877 | ||||
Independent Power and Renewable Electricity Producers – 0.2% | ||||
1,814 | AES Corp. | 32,797 | ||
Industrial Conglomerates – 0.3% | ||||
304 | Carlisle Cos., Inc. | 37,276 | ||
Insurance – 4.1% | ||||
865 | American Equity Investment Life Holding Co. | 23,372 | ||
189 | American National Insurance Co. | 22,835 | ||
270 | Assurant, Inc. | 25,626 | ||
631 | Assured Guaranty Ltd. | 28,035 | ||
467 | Axis Capital Holdings Ltd. | 25,582 | ||
876 | Brown & Brown, Inc. | 25,851 | ||
1,622 | CNO Financial Group, Inc. | 26,244 | ||
181 | Erie Indemnity Co., Class A | 32,312 | ||
111 | Everest Re Group Ltd. | 23,972 | ||
540 | First American Financial Corp. | 27,810 | ||
207 | Hanover Insurance Group (The), Inc. | 23,633 | ||
364 | Kemper Corp. | 27,715 | ||
997 | National General Holdings Corp. | 23,659 | ||
1,174 | Old Republic International Corp. | 24,560 | ||
247 | Primerica, Inc. | 30,171 | ||
172 | Reinsurance Group of America, Inc. | 24,421 | ||
180 | RenaissanceRe Holdings Ltd. | 25,830 | ||
350 | RLI Corp. | 25,113 | ||
397 | Selective Insurance Group, Inc. | 25,122 | ||
822 | Unum Group | 27,808 | ||
28 | White Mountains Insurance Group Ltd. | 25,913 | ||
327 | WR Berkley Corp. | 27,703 | ||
573,287 | ||||
IT Services – 2.8% | ||||
676 | Booz Allen Hamilton Holding Corp. | 39,303 | ||
1,129 | Genpact Ltd. | 39,718 | ||
468 | MAXIMUS, Inc. | 33,219 | ||
5,317 | Perspecta, Inc. | 107,510 | ||
1,649 | Sabre Corp. | 35,272 | ||
1,437 | Science Applications International Corp. | 110,577 | ||
1,415 | Western Union (The) Co. | 26,135 | ||
391,734 | ||||
Leisure Products – 0.6% | ||||
760 | Brunswick Corp. | 38,251 |
Shares | Description | Value | ||
COMMON STOCKS (Continued) | ||||
Leisure Products (Continued) | ||||
461 | Polaris Industries, Inc. | $38,922 | ||
77,173 | ||||
Life Sciences Tools & Services – 3.2% | ||||
1,041 | Bio-Techne Corp. | 206,690 | ||
5,059 | Bruker Corp. | 194,468 | ||
388 | PerkinElmer, Inc. | 37,388 | ||
438,546 | ||||
Machinery – 5.1% | ||||
548 | AGCO Corp. | 38,113 | ||
695 | Allison Transmission Holdings, Inc. | 31,219 | ||
568 | Barnes Group, Inc. | 29,201 | ||
423 | Crane Co. | 35,794 | ||
703 | Donaldson Co., Inc. | 35,192 | ||
802 | Flowserve Corp. | 36,202 | ||
728 | Graco, Inc. | 36,051 | ||
941 | Hillenbrand, Inc. | 39,080 | ||
631 | ITT, Inc. | 36,598 | ||
424 | John Bean Technologies Corp. | 38,961 | ||
916 | Kennametal, Inc. | 33,663 | ||
386 | Lincoln Electric Holdings, Inc. | 32,374 | ||
255 | Nordson Corp. | 33,793 | ||
497 | Oshkosh Corp. | 37,340 | ||
243 | Snap-on, Inc. | 38,034 | ||
1,106 | Terex Corp. | 35,536 | ||
817 | Timken (The) Co. | 35,638 | ||
546 | Toro (The) Co. | 37,587 | ||
1,480 | Trinity Industries, Inc. | 32,160 | ||
410 | Woodward, Inc. | 38,905 | ||
711,441 | ||||
Media – 1.8% | ||||
44 | Cable One, Inc. | 43,181 | ||
1,730 | Interpublic Group of (The) Cos., Inc. | 36,347 | ||
760 | John Wiley & Sons, Inc., Class A | 33,607 | ||
1,601 | New York Times (The) Co., Class A | 52,593 | ||
3,144 | News Corp., Class A | 39,111 | ||
454 | Nexstar Media Group, Inc., Class A | 49,200 | ||
254,039 | ||||
Metals & Mining – 0.8% | ||||
3,108 | Cleveland-Cliffs, Inc. | 31,049 | ||
336 | Reliance Steel & Aluminum Co. | 30,327 | ||
280 | Royal Gold, Inc. | 25,461 | ||
1,310 | United States Steel Corp. | 25,532 | ||
112,369 | ||||
Multiline Retail – 0.2% | ||||
766 | Nordstrom, Inc. | 33,995 |
Shares | Description | Value | ||
Multi-Utilities – 0.9% | ||||
418 | Black Hills Corp. | $30,961 | ||
1,279 | MDU Resources Group, Inc. | 33,037 | ||
1,035 | NiSource, Inc. | 29,663 | ||
441 | NorthWestern Corp. | 31,051 | ||
124,712 | ||||
Oil, Gas & Consumable Fuels – 2.1% | ||||
553 | Cimarex Energy Co. | 38,655 | ||
987 | CVR Energy, Inc. | 40,664 | ||
1,047 | Delek US Holdings, Inc. | 38,132 | ||
1,455 | Murphy Oil Corp. | 42,631 | ||
1,042 | PBF Energy, Inc., Class A | 32,448 | ||
785 | Peabody Energy Corp. | 22,239 | ||
3,557 | Range Resources Corp. | 39,981 | ||
2,199 | SM Energy Co. | 38,460 | ||
293,210 | ||||
Paper & Forest Products – 0.5% | ||||
681 | Domtar Corp. | 33,812 | ||
1,372 | Louisiana-Pacific Corp. | 33,449 | ||
67,261 | ||||
Personal Products – 0.2% | ||||
576 | Nu Skin Enterprises, Inc., Class A | 27,567 | ||
Professional Services – 1.1% | ||||
327 | Insperity, Inc. | 40,437 | ||
771 | Korn Ferry | 34,525 | ||
471 | ManpowerGroup, Inc. | 38,947 | ||
533 | Robert Half International, Inc. | 34,730 | ||
148,639 | ||||
Real Estate Management & Development – 0.4% | ||||
190 | Jones Lang LaSalle, Inc. | 29,294 | ||
1,329 | Kennedy-Wilson Holdings, Inc. | 28,428 | ||
57,722 | ||||
Road & Rail – 0.8% | ||||
1,216 | Knight-Swift Transportation Holdings, Inc. | 39,739 | ||
319 | Landstar System, Inc. | 34,895 | ||
633 | Ryder System, Inc. | 39,240 | ||
113,874 | ||||
Semiconductors & Semiconductor Equipment – 5.6% | ||||
960 | Cabot Microelectronics, Corp. | 107,482 | ||
7,198 | Cypress Semiconductor Corp. | 107,394 | ||
3,283 | Entegris, Inc. | 117,170 | ||
1,417 | MKS Instruments, Inc. | 131,852 | ||
787 | Monolithic Power Systems, Inc. | 106,631 | ||
2,918 | Teradyne, Inc. | 116,253 |
Shares | Description | Value | ||
COMMON STOCKS (Continued) | ||||
Semiconductors & Semiconductor Equipment (Continued) | ||||
326 | Universal Display Corp. | $49,829 | ||
863 | Versum Materials, Inc. | 43,417 | ||
780,028 | ||||
Software – 4.0% | ||||
1,456 | Blackbaud, Inc. | 116,087 | ||
1,912 | CDK Global, Inc. | 112,464 | ||
1,320 | j2 Global, Inc. | 114,312 | ||
1,123 | LogMeIn, Inc. | 89,952 | ||
1,914 | Pegasystems, Inc. | 124,410 | ||
557,225 | ||||
Specialty Retail – 2.3% | ||||
849 | Aaron’s, Inc. | 44,658 | ||
1,846 | American Eagle Outfitters, Inc. | 40,926 | ||
670 | Foot Locker, Inc. | 40,602 | ||
1,390 | L Brands, Inc. | 38,336 | ||
885 | Penske Automotive Group, Inc. | 39,515 | ||
1,124 | Signet Jewelers Ltd. | 30,528 | ||
428 | Tractor Supply Co. | 41,841 | ||
708 | Williams-Sonoma, Inc. | 39,839 | ||
316,245 | ||||
Technology Hardware, Storage & Peripherals – 0.4% | ||||
1,542 | Xerox Corp. | 49,313 | ||
Textiles, Apparel & Luxury Goods – 1.9% | ||||
433 | Carter’s, Inc. | 43,642 | ||
420 | Columbia Sportswear Co. | 43,756 | ||
2,815 | Hanesbrands, Inc. | 50,332 | ||
341 | Ralph Lauren Corp. | 44,221 | ||
1,166 | Steven Madden Ltd. | 39,457 | ||
1,107 | Wolverine World Wide, Inc. | 39,553 | ||
260,961 | ||||
Thrifts & Mortgage Finance – 0.4% | ||||
2,566 | New York Community Bancorp, Inc. | 29,689 | ||
1,476 | Radian Group, Inc. | 30,612 | ||
60,301 | ||||
Trading Companies & Distributors – 0.9% | ||||
1,009 | Air Lease Corp. | 34,659 | ||
431 | GATX Corp. | 32,915 | ||
397 | MSC Industrial Direct Co., Inc., Class A | 32,836 | ||
219 | Watsco, Inc. | 31,363 | ||
131,773 |
Shares | Description | Value | ||
Transportation Infrastructure – 0.2% | ||||
834 | Macquarie Infrastructure Corp. | $34,377 | ||
Water Utilities – 0.2% | ||||
768 | Aqua America, Inc. | 27,986 | ||
Total Common Stocks | 12,122,514 | |||
(Cost $12,441,776) | ||||
REAL ESTATE INVESTMENT TRUSTS – 12.4% | ||||
Equity Real Estate Investment Trusts – 11.2% | ||||
583 | American Campus Communities, Inc. | 27,739 | ||
1,216 | American Homes 4 Rent, Class A | 27,628 | ||
945 | Americold Realty Trust | 28,832 | ||
568 | Apartment Investment & Management Co., Class A | 28,565 | ||
1,693 | Apple Hospitality REIT, Inc. | 27,596 | ||
1,876 | Brandywine Realty Trust | 29,753 | ||
1,644 | Brixmor Property Group, Inc. | 30,200 | ||
274 | Camden Property Trust | 27,811 | ||
1,354 | CoreCivic, Inc. | 26,335 | ||
277 | CoreSite Realty Corp. | 29,645 | ||
1,148 | Corporate Office Properties Trust | 31,340 | ||
3,056 | Cousins Properties, Inc. | 29,521 | ||
841 | CubeSmart | 26,946 | ||
457 | CyrusOne, Inc. | 23,965 | ||
708 | Douglas Emmett, Inc. | 28,617 | ||
263 | EastGroup Properties, Inc. | 29,361 | ||
377 | EPR Properties | 28,991 | ||
249 | Equity LifeStyle Properties, Inc. | 28,461 | ||
204 | Federal Realty Investment Trust | 28,121 | ||
837 | First Industrial Realty Trust, Inc. | 29,596 | ||
748 | Gaming and Leisure Properties, Inc. | 28,850 | ||
1,226 | GEO Group (The), Inc. | 23,539 | ||
849 | Healthcare Realty Trust, Inc. | 27,261 | ||
954 | Healthcare Trust of America, Inc., Class A | 27,275 | ||
624 | Highwoods Properties, Inc. | 29,191 | ||
1,011 | Hospitality Properties Trust | 26,599 | ||
831 | Hudson Pacific Properties, Inc. | 28,603 | ||
694 | JBG SMITH Properties | 28,697 | ||
384 | Kilroy Realty Corp. | 29,169 | ||
1,648 | Kimco Realty Corp. | 30,488 | ||
349 | Lamar Advertising Co., Class A | 27,662 | ||
577 | Liberty Property Trust | 27,938 | ||
260 | Life Storage, Inc. | 25,290 | ||
558 | Macerich (The) Co. | 24,189 | ||
1,502 | Medical Properties Trust, Inc. | 27,802 | ||
319 | National Health Investors, Inc. | 25,058 | ||
498 | National Retail Properties, Inc. | 27,584 | ||
687 | Omega Healthcare Investors, Inc. | 26,209 | ||
1,333 | Outfront Media, Inc. | 31,192 | ||
763 | PotlatchDeltic Corp. | 28,834 |
Shares | Description | Value | ||
REAL ESTATE INVESTMENT TRUSTS (Continued) | ||||
Equity Real Estate Investment Trusts (Continued) | ||||
184 | PS Business Parks, Inc. | $28,857 | ||
872 | Rayonier, Inc. | 27,486 | ||
1,472 | RLJ Lodging Trust | 25,863 | ||
362 | Ryman Hospitality Properties, Inc. | 29,771 | ||
1,465 | Sabra Health Care REIT, Inc. | 28,524 | ||
2,061 | Senior Housing Properties Trust | 24,279 | ||
306 | SL Green Realty Corp. | 27,516 | ||
685 | Spirit Realty Capital, Inc. | 27,215 | ||
238 | Sun Communities, Inc. | 28,208 | ||
1,856 | Sunstone Hotel Investors, Inc. | 26,726 | ||
531 | Taubman Centers, Inc. | 28,079 | ||
1,551 | Uniti Group, Inc. | 17,356 | ||
3,376 | VEREIT, Inc. | 28,257 | ||
1,285 | VICI Properties, Inc. | 28,116 | ||
973 | Weingarten Realty Investors | 28,577 | ||
370 | WP Carey, Inc. | 28,982 | ||
1,554,265 | ||||
Mortgage Real Estate Investment Trusts – 1.2% | ||||
1,376 | AGNC Investment Corp. | 24,768 | ||
758 | Blackstone Mortgage Trust, Inc., Class A | 26,196 | ||
1,355 | Chimera Investment Corp. | 25,393 | ||
3,614 | MFA Financial, Inc. | 26,274 | ||
1,699 | New Residential Investment Corp. | 28,730 | ||
1,225 | Starwood Property Trust, Inc. | 27,379 | ||
158,740 | ||||
Total Real Estate Investment Trusts | 1,713,005 | |||
(Cost $1,642,607) | ||||
Total Investments – 99.9% | 13,835,519 | |||
(Cost $14,084,383) (a) | ||||
Net Other Assets and Liabilities – 0.1% | 17,302 | |||
Net Assets – 100.0% | $13,852,821 |
(a) | Aggregate cost for federal income tax purposes was $14,246,260. As of March 31, 2019, the aggregate gross unrealized appreciation for all investments in which there was an excess of value over tax cost was $739,329 and the aggregate gross unrealized depreciation for all investments in which there was an excess of tax cost over value was $1,150,070. The net unrealized depreciation was $410,741. |
Total Value at 3/31/2019 | Level 1 Quoted Prices | Level 2 Significant Observable Inputs | Level 3 Significant Unobservable Inputs | |
Common Stocks* | $ 12,122,514 | $ 12,122,514 | $ — | $ — |
Real Estate Investment Trusts* | 1,713,005 | 1,713,005 | — | — |
Total Investments | $ 13,835,519 | $ 13,835,519 | $— | $— |
* | See Portfolio of Investments for industry breakout. |
Shares | Description | Value | ||
COMMON STOCKS – 89.4% | ||||
Aerospace & Defense – 1.1% | ||||
330 | AAR Corp. | $10,729 | ||
229 | Cubic Corp. | 12,879 | ||
159 | Moog, Inc., Class A | 13,825 | ||
1,071 | Triumph Group, Inc. | 20,413 | ||
57,846 | ||||
Air Freight & Logistics – 0.3% | ||||
225 | Forward Air Corp. | 14,564 | ||
Airlines – 0.5% | ||||
118 | Allegiant Travel Co. | 15,277 | ||
446 | Hawaiian Holdings, Inc. | 11,708 | ||
26,985 | ||||
Auto Components – 0.8% | ||||
345 | Cooper Tire & Rubber Co. | 10,312 | ||
167 | LCI Industries | 12,829 | ||
230 | Standard Motor Products, Inc. | 11,293 | ||
407 | Tenneco, Inc., Class A | 9,019 | ||
43,453 | ||||
Automobiles – 0.3% | ||||
460 | Winnebago Industries, Inc. | 14,329 | ||
Banks – 8.1% | ||||
207 | 1st Source Corp. | 9,296 | ||
263 | Ameris Bancorp | 9,034 | ||
167 | BancFirst Corp. | 8,709 | ||
156 | Banner Corp. | 8,451 | ||
309 | Berkshire Hills Bancorp, Inc. | 8,417 | ||
789 | Boston Private Financial Holdings, Inc. | 8,647 | ||
604 | Brookline Bancorp, Inc. | 8,698 | ||
397 | CenterState Bank Corp. | 9,453 | ||
123 | City Holding Co. | 9,371 | ||
412 | CVB Financial Corp. | 8,673 | ||
222 | Enterprise Financial Services Corp. | 9,051 | ||
238 | FB Financial Corp. | 7,559 | ||
256 | First Bancorp | 8,899 | ||
970 | First BanCorp | 11,116 | ||
340 | First Busey Corp. | 8,296 | ||
691 | First Commonwealth Financial Corp. | 8,707 | ||
228 | First Interstate BancSystem, Inc., Class A | 9,079 | ||
243 | First Merchants Corp. | 8,955 | ||
421 | First Midwest Bancorp, Inc. | 8,614 | ||
267 | Great Western Bancorp, Inc. | 8,435 | ||
190 | Heartland Financial USA, Inc. | 8,103 | ||
281 | Heritage Financial Corp. | 8,469 | ||
468 | Hilltop Holdings, Inc. | 8,541 | ||
704 | Hope Bancorp, Inc. | 9,208 | ||
119 | Independent Bank Corp. | 9,640 | ||
182 | Independent Bank Group, Inc. | 9,335 | ||
208 | Lakeland Financial Corp. | 9,406 |
Shares | Description | Value | ||
Banks (Continued) | ||||
260 | LegacyTexas Financial Group, Inc. | $9,721 | ||
563 | Live Oak Bancshares, Inc. | 8,225 | ||
270 | National Bank Holdings Corp., Class A | 8,980 | ||
241 | NBT Bancorp, Inc. | 8,678 | ||
426 | Opus Bank | 8,435 | ||
98 | Park National Corp. | 9,285 | ||
276 | Renasant Corp. | 9,343 | ||
221 | S&T Bancorp, Inc. | 8,736 | ||
266 | Sandy Spring Bancorp, Inc. | 8,320 | ||
262 | ServisFirst Bancshares, Inc. | 8,845 | ||
346 | Simmons First National Corp., Class A | 8,470 | ||
263 | Southside Bancshares, Inc. | 8,739 | ||
111 | Tompkins Financial Corp. | 8,444 | ||
348 | Towne Bank/Portsmouth VA | 8,613 | ||
247 | TriCo Bancshares | 9,705 | ||
294 | Trustmark Corp. | 9,887 | ||
296 | Union Bankshares Corp. | 9,570 | ||
389 | United Community Banks, Inc. | 9,698 | ||
227 | WesBanco, Inc. | 9,023 | ||
150 | Westamerica Bancorporation | 9,270 | ||
420,149 | ||||
Beverages – 0.6% | ||||
63 | Coca-Cola Bottling Co. Consolidated | 18,133 | ||
195 | MGP Ingredients, Inc. | 15,044 | ||
33,177 | ||||
Building Products – 1.1% | ||||
351 | AAON, Inc. | 16,209 | ||
508 | Advanced Drainage Systems, Inc. | 13,091 | ||
413 | Apogee Enterprises, Inc. | 15,484 | ||
474 | Universal Forest Products, Inc. | 14,168 | ||
58,952 | ||||
Capital Markets – 2.0% | ||||
377 | Artisan Partners Asset Management, Inc., Class A | 9,489 | ||
243 | Cohen & Steers, Inc. | 10,272 | ||
314 | Federated Investors, Inc., Class B | 9,203 | ||
226 | Hamilton Lane, Inc., Class A | 9,849 | ||
227 | Houlihan Lokey, Inc. | 10,408 | ||
243 | Moelis & Co., Class A | 10,111 | ||
127 | Piper Jaffray Cos. | 9,250 | ||
215 | PJT Partners, Inc., Class A | 8,987 | ||
324 | Virtu Financial, Inc., Class A | 7,695 | ||
462 | Waddell & Reed Financial, Inc., Class A | 7,988 | ||
1,255 | WisdomTree Investments, Inc. | 8,860 | ||
102,112 |
Shares | Description | Value | ||
COMMON STOCKS (Continued) | ||||
Chemicals – 1.5% | ||||
99 | Chase Corp. | $9,161 | ||
232 | HB Fuller Co. | 11,285 | ||
160 | Innospec, Inc. | 13,336 | ||
860 | Kronos Worldwide, Inc. | 12,057 | ||
193 | Minerals Technologies, Inc. | 11,346 | ||
56 | Quaker Chemical Corp. | 11,219 | ||
134 | Stepan Co. | 11,728 | ||
80,132 | ||||
Commercial Services & Supplies – 5.1% | ||||
383 | ABM Industries, Inc. | 13,922 | ||
1,643 | ACCO Brands Corp. | 14,064 | ||
283 | Brady Corp., Class A | 13,134 | ||
918 | Covanta Holding Corp. | 15,891 | ||
320 | Deluxe Corp. | 13,991 | ||
368 | Herman Miller, Inc. | 12,946 | ||
314 | HNI Corp. | 11,395 | ||
782 | Interface, Inc. | 11,980 | ||
676 | Knoll, Inc. | 12,783 | ||
290 | Matthews International Corp., Class A | 10,716 | ||
239 | McGrath RentCorp | 13,520 | ||
388 | Mobile Mini, Inc. | 13,169 | ||
351 | Multi-Color Corp. | 17,511 | ||
6,256 | Pitney Bowes, Inc. | 42,979 | ||
751 | Steelcase, Inc., Class A | 10,927 | ||
86 | UniFirst Corp. | 13,201 | ||
196 | US Ecology, Inc. | 10,972 | ||
246 | Viad Corp. | 13,847 | ||
266,948 | ||||
Communications Equipment – 1.7% | ||||
557 | InterDigital, Inc. | 36,751 | ||
1,117 | Plantronics, Inc. | 51,505 | ||
88,256 | ||||
Construction & Engineering – 1.1% | ||||
282 | Comfort Systems USA, Inc. | 14,774 | ||
306 | Granite Construction, Inc. | 13,204 | ||
811 | KBR, Inc. | 15,482 | ||
644 | Primoris Services Corp. | 13,318 | ||
56,778 | ||||
Consumer Finance – 0.2% | ||||
159 | Nelnet, Inc., Class A | 8,756 | ||
Containers & Packaging – 0.3% | ||||
332 | Greif, Inc., Class A | 13,695 | ||
Distributors – 0.4% | ||||
507 | Core-Mark Holding Co., Inc. | 18,825 |
Shares | Description | Value | ||
Diversified Consumer Services – 0.5% | ||||
18 | Graham Holdings Co., Class B | $12,297 | ||
104 | Strategic Education, Inc. | 13,656 | ||
25,953 | ||||
Diversified Telecommunication Services – 1.1% | ||||
272 | ATN International, Inc. | 15,338 | ||
818 | Cogent Communications Holdings, Inc. | 44,377 | ||
59,715 | ||||
Electric Utilities – 0.7% | ||||
214 | El Paso Electric Co. | 12,587 | ||
179 | MGE Energy, Inc. | 12,167 | ||
248 | Otter Tail Corp. | 12,355 | ||
37,109 | ||||
Electrical Equipment – 0.5% | ||||
305 | AZZ, Inc. | 12,484 | ||
245 | Encore Wire Corp. | 14,019 | ||
26,503 | ||||
Electronic Equipment, Instruments & Components – 1.6% | ||||
250 | Badger Meter, Inc. | 13,910 | ||
295 | Belden, Inc. | 15,841 | ||
581 | Benchmark Electronics, Inc. | 15,251 | ||
476 | CTS Corp. | 13,980 | ||
702 | KEMET Corp. | 11,913 | ||
529 | Methode Electronics, Inc. | 15,225 | ||
86,120 | ||||
Energy Equipment & Services – 3.4% | ||||
4,205 | Archrock, Inc. | 41,125 | ||
2,432 | Liberty Oilfield Services, Inc., Class A | 37,428 | ||
1,752 | Mammoth Energy Services, Inc. | 29,171 | ||
15,748 | Nabors Industries Ltd. | 54,173 | ||
974 | US Silica Holdings, Inc. | 16,909 | ||
178,806 | ||||
Food & Staples Retailing – 0.4% | ||||
199 | PriceSmart, Inc. | 11,717 | ||
247 | Weis Markets, Inc. | 10,080 | ||
21,797 | ||||
Food Products – 1.6% | ||||
385 | B&G Foods, Inc. | 9,402 | ||
153 | Calavo Growers, Inc. | 12,829 | ||
263 | Cal-Maine Foods, Inc. | 11,738 | ||
394 | Fresh Del Monte Produce, Inc. | 10,650 | ||
77 | J&J Snack Foods Corp. | 12,231 | ||
112 | Sanderson Farms, Inc. | 14,766 |
Shares | Description | Value | ||
COMMON STOCKS (Continued) | ||||
Food Products (Continued) | ||||
344 | Tootsie Roll Industries, Inc. | $12,810 | ||
84,426 | ||||
Gas Utilities – 0.5% | ||||
132 | Chesapeake Utilities Corp. | 12,040 | ||
178 | Northwest Natural Holding Co. | 11,682 | ||
23,722 | ||||
Health Care Equipment & Supplies – 4.1% | ||||
117 | Atrion Corp. | 102,805 | ||
1,354 | CONMED Corp. | 112,626 | ||
215,431 | ||||
Health Care Providers & Services – 8.5% | ||||
2,241 | Ensign Group (The), Inc. | 114,717 | ||
1,108 | National HealthCare Corp. | 84,075 | ||
13,730 | Owens & Minor, Inc. | 56,293 | ||
4,421 | Patterson Cos., Inc. | 96,599 | ||
849 | US Physical Therapy, Inc. | 89,170 | ||
440,854 | ||||
Hotels, Restaurants & Leisure – 2.8% | ||||
233 | BJ’s Restaurants, Inc. | 11,016 | ||
658 | Bloomin’ Brands, Inc. | 13,456 | ||
268 | Brinker International, Inc. | 11,894 | ||
271 | Cheesecake Factory (The), Inc. | 13,257 | ||
264 | Dave & Buster’s Entertainment, Inc. | 13,166 | ||
175 | Dine Brands Global, Inc. | 15,976 | ||
269 | International Speedway Corp., Class A | 11,736 | ||
152 | Jack in the Box, Inc. | 12,321 | ||
296 | Papa John’s International, Inc. | 15,673 | ||
580 | Red Rock Resorts, Inc., Class A | 14,993 | ||
183 | Wingstop, Inc. | 13,914 | ||
147,402 | ||||
Household Durables – 0.9% | ||||
583 | KB Home | 14,091 | ||
402 | La-Z-Boy, Inc. | 13,262 | ||
427 | MDC Holdings, Inc. | 12,408 | ||
353 | Tupperware Brands Corp. | 9,030 | ||
48,791 | ||||
Household Products – 0.2% | ||||
61 | WD-40 Co. | 10,336 | ||
Independent Power and Renewable Electricity Producers – 0.5% | ||||
205 | Ormat Technologies, Inc. | 11,306 |
Shares | Description | Value | ||
Independent Power and Renewable Electricity Producers (Continued) | ||||
576 | Pattern Energy Group, Inc., Class A | $12,672 | ||
23,978 | ||||
Industrial Conglomerates – 0.2% | ||||
340 | Raven Industries, Inc. | 13,046 | ||
Insurance – 2.0% | ||||
147 | AMERISAFE, Inc. | 8,732 | ||
124 | Argo Group International Holdings Ltd. | 8,762 | ||
199 | Employers Holdings, Inc. | 7,982 | ||
127 | FBL Financial Group, Inc., Class A | 7,965 | ||
223 | Horace Mann Educators Corp. | 7,852 | ||
228 | James River Group Holdings, Ltd. | 9,138 | ||
150 | Kinsale Capital Group, Inc. | 10,285 | ||
161 | Mercury General Corp. | 8,061 | ||
28 | National Western Life Group, Inc., Class A | 7,349 | ||
206 | ProAssurance Corp. | 7,130 | ||
102 | Safety Insurance Group, Inc. | 8,888 | ||
150 | United Fire Group, Inc. | 6,557 | ||
220 | Universal Insurance Holdings, Inc. | 6,820 | ||
105,521 | ||||
Internet & Direct Marketing Retail – 0.9% | ||||
1,027 | Shutterstock, Inc. | 47,889 | ||
IT Services – 3.5% | ||||
1,164 | CSG Systems International, Inc. | 49,237 | ||
429 | EVERTEC, Inc. | 11,931 | ||
235 | ManTech International Corp., Class A | 12,695 | ||
2,963 | NIC, Inc. | 50,638 | ||
2,833 | Presidio, Inc. | 41,928 | ||
431 | TTEC Holdings, Inc. | 15,615 | ||
182,044 | ||||
Leisure Products – 0.5% | ||||
529 | Acushnet Holdings Corp. | 12,241 | ||
728 | Callaway Golf Co. | 11,597 | ||
23,838 | ||||
Life Sciences Tools & Services – 1.7% | ||||
3,761 | Luminex Corp. | 86,541 | ||
Machinery – 5.6% | ||||
587 | Actuant Corp., Class A | 14,305 | ||
159 | Alamo Group, Inc. | 15,890 |
Shares | Description | Value | ||
COMMON STOCKS (Continued) | ||||
Machinery (Continued) | ||||
197 | Albany International Corp., Class A | $14,103 | ||
490 | Altra Industrial Motion Corp. | 15,215 | ||
408 | Astec Industries, Inc. | 15,406 | ||
343 | Douglas Dynamics, Inc. | 13,058 | ||
205 | EnPro Industries, Inc. | 13,212 | ||
187 | ESCO Technologies, Inc. | 12,535 | ||
619 | Federal Signal Corp. | 16,088 | ||
287 | Franklin Electric Co., Inc. | 14,663 | ||
311 | Greenbrier (The) Cos., Inc. | 10,024 | ||
151 | Kadant, Inc. | 13,282 | ||
527 | Mueller Industries, Inc. | 16,516 | ||
1,353 | Mueller Water Products, Inc., Class A | 13,584 | ||
1,640 | REV Group, Inc. | 17,958 | ||
183 | Standex International Corp. | 13,432 | ||
371 | Sun Hydraulics Corp. | 17,255 | ||
236 | Tennant Co. | 14,653 | ||
941 | Wabash National Corp. | 12,751 | ||
191 | Watts Water Technologies, Inc., Class A | 15,437 | ||
289,367 | ||||
Marine – 0.3% | ||||
385 | Matson, Inc. | 13,895 | ||
Media – 2.0% | ||||
954 | Emerald Expositions Events, Inc. | 12,116 | ||
2,063 | Entercom Communications Corp., Class A | 10,831 | ||
1,381 | Gannett Co., Inc. | 14,556 | ||
227 | Meredith Corp. | 12,544 | ||
1,018 | New Media Investment Group, Inc. | 10,689 | ||
293 | Scholastic Corp. | 11,650 | ||
447 | Sinclair Broadcast Group, Inc., Class A | 17,200 | ||
1,084 | TEGNA, Inc. | 15,284 | ||
104,870 | ||||
Metals & Mining – 1.8% | ||||
278 | Carpenter Technology Corp. | 12,746 | ||
619 | Commercial Metals Co. | 10,573 | ||
238 | Compass Minerals International, Inc. | 12,940 | ||
4,200 | Hecla Mining Co. | 9,660 | ||
111 | Kaiser Aluminum Corp. | 11,625 | ||
274 | Materion Corp. | 15,635 | ||
411 | Warrior Met Coal, Inc. | 12,494 | ||
285 | Worthington Industries, Inc. | 10,636 | ||
96,309 | ||||
Multiline Retail – 0.6% | ||||
407 | Big Lots, Inc. | 15,474 | ||
195 | Dillard’s, Inc., Class A | 14,044 | ||
29,518 |
Shares | Description | Value | ||
Oil, Gas & Consumable Fuels – 1.2% | ||||
119 | Arch Coal, Inc., Class A | $10,861 | ||
2,286 | SemGroup Corp., Class A | 33,695 | ||
575 | World Fuel Services Corp. | 16,612 | ||
61,168 | ||||
Paper & Forest Products – 0.8% | ||||
516 | Boise Cascade Co. | 13,808 | ||
168 | Neenah, Inc. | 10,813 | ||
445 | Schweitzer-Mauduit International, Inc. | 17,230 | ||
41,851 | ||||
Personal Products – 0.5% | ||||
170 | Inter Parfums, Inc. | 12,898 | ||
89 | Medifast, Inc. | 11,352 | ||
24,250 | ||||
Professional Services – 0.5% | ||||
243 | Exponent, Inc. | 14,026 | ||
190 | ICF International, Inc. | 14,455 | ||
28,481 | ||||
Real Estate Management & Development – 0.3% | ||||
568 | Realogy Holdings Corp. | 6,475 | ||
157 | RMR Group (The), Inc., Class A | 9,574 | ||
16,049 | ||||
Road & Rail – 1.3% | ||||
359 | ArcBest Corp. | 11,054 | ||
673 | Heartland Express, Inc. | 12,975 | ||
761 | Marten Transport Ltd. | 13,569 | ||
660 | Schneider National, Inc., Class B | 13,893 | ||
417 | Werner Enterprises, Inc. | 14,240 | ||
65,731 | ||||
Semiconductors & Semiconductor Equipment – 1.6% | ||||
1,412 | Brooks Automation, Inc. | 41,414 | ||
606 | Power Integrations, Inc. | 42,384 | ||
83,798 | ||||
Software – 2.4% | ||||
869 | Ebix, Inc. | 42,902 | ||
1,042 | Progress Software Corp. | 46,234 | ||
3,929 | TiVo Corp. | 36,618 | ||
125,754 | ||||
Specialty Retail – 3.5% | ||||
587 | Abercrombie & Fitch Co., Class A | 16,090 | ||
1,040 | Bed Bath & Beyond, Inc. | 17,670 | ||
609 | Buckle (The), Inc. | 11,400 | ||
423 | Caleres, Inc. | 10,444 |
Shares | Description | Value | ||
COMMON STOCKS (Continued) | ||||
Specialty Retail (Continued) | ||||
2,096 | Chico’s FAS, Inc. | $8,950 | ||
131 | Children’s Place (The), Inc. | 12,744 | ||
377 | Dick’s Sporting Goods, Inc. | 13,877 | ||
477 | DSW, Inc., Class A (a) | 10,599 | ||
933 | GameStop Corp., Class A | 9,479 | ||
223 | Group 1 Automotive, Inc. | 14,428 | ||
567 | Guess?, Inc. | 11,113 | ||
154 | Lithia Motors, Inc., Class A | 14,283 | ||
171 | Monro, Inc. | 14,795 | ||
4,565 | Office Depot, Inc. | 16,571 | ||
182,443 | ||||
Textiles, Apparel & Luxury Goods – 0.2% | ||||
157 | Oxford Industries, Inc. | 11,816 | ||
Thrifts & Mortgage Finance – 1.4% | ||||
653 | Capitol Federal Financial, Inc. | 8,718 | ||
651 | Kearny Financial Corp. | 8,378 | ||
493 | Northwest Bancshares, Inc. | 8,366 | ||
371 | OceanFirst Financial Corp. | 8,926 | ||
346 | Provident Financial Services, Inc. | 8,958 | ||
193 | Walker & Dunlop, Inc. | 9,826 | ||
312 | Washington Federal, Inc. | 9,014 | ||
220 | WSFS Financial Corp. | 8,492 | ||
70,678 | ||||
Tobacco – 0.5% | ||||
206 | Universal Corp. | 11,872 | ||
1,145 | Vector Group Ltd. | 12,354 | ||
24,226 | ||||
Trading Companies & Distributors – 2.3% | ||||
714 | Aircastle, Ltd. | 14,451 | ||
228 | Applied Industrial Technologies, Inc. | 13,559 | ||
603 | H&E Equipment Services, Inc. | 15,141 | ||
220 | Kaman Corp. | 12,857 | ||
357 | Rush Enterprises, Inc., Class A | 14,926 | ||
1,548 | Systemax, Inc. | 35,047 | ||
396 | Triton International Ltd. | 12,316 | ||
118,297 | ||||
Water Utilities – 0.7% | ||||
160 | American States Water Co. | 11,408 | ||
225 | California Water Service Group | 12,213 | ||
193 | SJW Group | 11,916 | ||
35,537 | ||||
Wireless Telecommunication Services – 0.7% | ||||
440 | Shenandoah Telecommunications Co. | 19,518 |
Shares | Description | Value | ||
Wireless Telecommunication Services (Continued) | ||||
598 | Telephone & Data Systems, Inc. | $18,377 | ||
37,895 | ||||
Total Common Stocks | 4,656,712 | |||
(Cost $4,894,642) | ||||
REAL ESTATE INVESTMENT TRUSTS – 9.9% | ||||
Equity Real Estate Investment Trusts – 8.5% | ||||
350 | Acadia Realty Trust | 9,544 | ||
141 | Agree Realty Corp. | 9,777 | ||
27 | Alexander’s, Inc. | 10,157 | ||
208 | American Assets Trust, Inc. | 9,539 | ||
452 | CareTrust REIT, Inc. | 10,604 | ||
343 | Chesapeake Lodging Trust | 9,539 | ||
431 | Columbia Property Trust, Inc. | 9,702 | ||
961 | CorePoint Lodging, Inc. | 10,734 | ||
919 | DiamondRock Hospitality Co. | 9,953 | ||
532 | Easterly Government Properties, Inc. | 9,581 | ||
586 | Empire State Realty Trust, Inc., Class A | 9,259 | ||
450 | Four Corners Property Trust, Inc. | 13,320 | ||
284 | Getty Realty Corp. | 9,097 | ||
474 | Global Net Lease, Inc. | 8,959 | ||
438 | Hannon Armstrong Sustainable Infrastructure Capital, Inc. | 11,230 | ||
424 | Industrial Logistics Properties Trust | 8,552 | ||
592 | Kite Realty Group Trust | 9,466 | ||
1,016 | Lexington Realty Trust | 9,205 | ||
200 | LTC Properties, Inc. | 9,160 | ||
426 | Mack-Cali Realty Corp. | 9,457 | ||
673 | Monmouth Real Estate Investment Corp. | 8,870 | ||
315 | National Storage Affiliates Trust | 8,981 | ||
1,215 | Office Properties Income Trust | 33,583 | ||
295 | Pebblebrook Hotel Trust | 9,163 | ||
521 | Physicians Realty Trust | 9,800 | ||
490 | Piedmont Office Realty Trust, Inc., Class A | 10,216 | ||
225 | QTS Realty Trust, Inc., Class A | 10,123 | ||
525 | Retail Opportunity Investments Corp. | 9,103 | ||
769 | Retail Properties of America, Inc. | 9,374 | ||
283 | Rexford Industrial Realty, Inc. | 10,134 | ||
698 | RPT Realty | 8,383 | ||
177 | Saul Centers, Inc. | 9,092 | ||
258 | Seritage Growth Properties | 11,466 | ||
754 | SITE Centers Corp. | 10,269 | ||
335 | STAG Industrial, Inc. | 9,933 | ||
858 | Summit Hotel Properties, Inc. | 9,790 | ||
413 | Tanger Factory Outlet Centers, Inc. | 8,665 | ||
237 | Terreno Realty Corp. | 9,963 |
Shares | Description | Value | ||
REAL ESTATE INVESTMENT TRUSTS (Continued) | ||||
Equity Real Estate Investment Trusts (Continued) | ||||
404 | Tier REIT, Inc. | $11,579 | ||
502 | Urban Edge Properties | 9,538 | ||
1,717 | Washington Prime Group, Inc. | 9,701 | ||
363 | Washington Real Estate Investment Trust | 10,302 | ||
485 | Xenia Hotels & Resorts, Inc. | 10,626 | ||
445,489 | ||||
Mortgage Real Estate Investment Trusts – 1.4% | ||||
501 | Apollo Commercial Real Estate Finance, Inc. | 9,118 | ||
528 | Colony Credit Real Estate, Inc. | 8,268 | ||
576 | Invesco Mortgage Capital, Inc. | 9,101 | ||
436 | KKR Real Estate Finance Trust, Inc. | 8,729 | ||
544 | Ladder Capital Corp. | 9,259 | ||
448 | PennyMac Mortgage Investment Trust | 9,278 | ||
554 | Redwood Trust, Inc. | 8,947 | ||
650 | Two Harbors Investment Corp. | 8,795 | ||
71,495 | ||||
Total Real Estate Investment Trusts | 516,984 | |||
(Cost $507,748) | ||||
COMMON STOCKS – BUSINESS DEVELOPMENT COMPANIES - 0.2% | ||||
Capital Markets – 0.2% | ||||
673 | TCG BDC, Inc. | 9,745 | ||
(Cost $10,609) | ||||
Total Investments – 99.5% | 5,183,441 | |||
(Cost $5,412,999) (b) | ||||
Net Other Assets and Liabilities – 0.5% | 26,982 | |||
Net Assets – 100.0% | $5,210,423 |
(a) | Non-income producing security. |
(b) | Aggregate cost for federal income tax purposes was $5,520,982. As of March 31, 2019, the aggregate gross unrealized appreciation for all investments in which there was an excess of value over tax cost was $358,708 and the aggregate gross unrealized depreciation for all investments in which there was an excess of tax cost over value was $696,249. The net unrealized depreciation was $337,541. |
Total Value at 3/31/2019 | Level 1 Quoted Prices | Level 2 Significant Observable Inputs | Level 3 Significant Unobservable Inputs | |
Common Stocks* | $ 4,656,712 | $ 4,656,712 | $ — | $ — |
Real Estate Investment Trusts* | 516,984 | 516,984 | — | — |
Common Stocks - Business Development Companies* | 9,745 | 9,745 | — | — |
Total Investments | $ 5,183,441 | $ 5,183,441 | $— | $— |
* | See Portfolio of Investments for industry breakout. |
Shares | Description | Value | ||
COMMON STOCKS – 91.3% | ||||
Aerospace & Defense – 2.5% | ||||
40 | Boeing (The) Co. | $15,257 | ||
92 | General Dynamics Corp. | 15,574 | ||
209 | Harris Corp. | 33,379 | ||
74 | Lockheed Martin Corp. | 22,212 | ||
47 | Northrop Grumman Corp. | 12,671 | ||
90 | Raytheon Co. | 16,387 | ||
154 | United Technologies Corp. | 19,849 | ||
135,329 | ||||
Air Freight & Logistics – 0.7% | ||||
164 | CH Robinson Worldwide, Inc. | 14,266 | ||
235 | United Parcel Service, Inc., Class B | 26,259 | ||
40,525 | ||||
Airlines – 0.4% | ||||
452 | Delta Air Lines, Inc. | 23,346 | ||
Auto Components – 0.3% | ||||
180 | BorgWarner, Inc. | 6,914 | ||
59 | Lear Corp. | 8,007 | ||
14,921 | ||||
Automobiles – 0.8% | ||||
3,275 | Ford Motor Co. | 28,755 | ||
434 | General Motors Co. | 16,101 | ||
44,856 | ||||
Banks – 3.4% | ||||
305 | Bank of America Corp. | 8,415 | ||
276 | BB&T Corp. | 12,842 | ||
195 | Citigroup, Inc. | 12,133 | ||
380 | Citizens Financial Group, Inc. | 12,350 | ||
134 | Comerica, Inc. | 9,825 | ||
459 | Fifth Third Bancorp | 11,576 | ||
1,206 | Huntington Bancshares, Inc. | 15,292 | ||
97 | JPMorgan Chase & Co. | 9,819 | ||
887 | KeyCorp | 13,970 | ||
60 | M&T Bank Corp. | 9,421 | ||
85 | PNC Financial Services Group (The), Inc. | 10,426 | ||
881 | Regions Financial Corp. | 12,466 | ||
242 | SunTrust Banks, Inc. | 14,339 | ||
220 | US Bancorp | 10,602 | ||
265 | Wells Fargo & Co. | 12,805 | ||
215 | Zions Bancorp N.A. | 9,763 | ||
186,044 | ||||
Beverages – 0.8% | ||||
222 | Coca-Cola (The) Co. | 10,403 | ||
427 | Keurig Dr Pepper, Inc. | 11,943 | ||
166 | Molson Coors Brewing Co., Class B | 9,902 | ||
94 | PepsiCo, Inc. | 11,520 | ||
43,768 |
Shares | Description | Value | ||
Biotechnology – 3.9% | ||||
974 | AbbVie, Inc. | $78,495 | ||
291 | Amgen, Inc. | 55,284 | ||
1,221 | Gilead Sciences, Inc. | 79,377 | ||
213,156 | ||||
Building Products – 0.5% | ||||
726 | Johnson Controls International PLC | 26,818 | ||
Capital Markets – 2.8% | ||||
111 | Ameriprise Financial, Inc. | 14,219 | ||
161 | Bank of New York Mellon (The) Corp. | 8,119 | ||
27 | BlackRock, Inc. | 11,539 | ||
370 | Franklin Resources, Inc. | 12,262 | ||
39 | Goldman Sachs Group (The), Inc. | 7,487 | ||
1,456 | Invesco, Ltd. | 28,115 | ||
565 | KKR & Co., Inc., Class A | 13,272 | ||
240 | Morgan Stanley | 10,128 | ||
87 | Nasdaq, Inc. | 7,612 | ||
95 | Northern Trust Corp. | 8,589 | ||
154 | State Street Corp. | 10,135 | ||
112 | T Rowe Price Group, Inc. | 11,213 | ||
132 | TD Ameritrade Holding Corp. | 6,599 | ||
149,289 | ||||
Chemicals – 1.1% | ||||
49 | Air Products & Chemicals, Inc. | 9,357 | ||
72 | Celanese Corp. | 7,100 | ||
180 | CF Industries Holdings, Inc. | 7,358 | ||
151 | DowDuPont, Inc. | 8,050 | ||
122 | Eastman Chemical Co. | 9,257 | ||
45 | International Flavors & Fragrances, Inc. | 5,796 | ||
164 | LyondellBasell Industries N.V., Class A | 13,789 | ||
60,707 | ||||
Commercial Services & Supplies – 0.5% | ||||
170 | Republic Services, Inc. | 13,665 | ||
144 | Waste Management, Inc. | 14,963 | ||
28,628 | ||||
Communications Equipment – 1.0% | ||||
1,026 | Cisco Systems, Inc. | 55,394 | ||
Consumer Finance – 0.8% | ||||
374 | Ally Financial, Inc. | 10,281 | ||
96 | Capital One Financial Corp. | 7,842 | ||
147 | Discover Financial Services | 10,461 | ||
449 | Synchrony Financial | 14,323 | ||
42,907 |
Shares | Description | Value | ||
COMMON STOCKS (Continued) | ||||
Containers & Packaging – 1.4% | ||||
71 | Avery Dennison Corp. | $8,023 | ||
335 | International Paper Co. | 15,501 | ||
264 | Packaging Corp. of America | 26,236 | ||
751 | WestRock Co. | 28,801 | ||
78,561 | ||||
Distributors – 0.2% | ||||
100 | Genuine Parts Co. | 11,203 | ||
Diversified Telecommunication Services – 1.9% | ||||
1,074 | AT&T, Inc. | 33,680 | ||
4,097 | CenturyLink, Inc. | 49,123 | ||
329 | Verizon Communications, Inc. | 19,454 | ||
102,257 | ||||
Electric Utilities – 1.9% | ||||
141 | Alliant Energy Corp. | 6,645 | ||
85 | American Electric Power Co., Inc. | 7,119 | ||
91 | Duke Energy Corp. | 8,190 | ||
141 | Edison International | 8,731 | ||
91 | Entergy Corp. | 8,702 | ||
101 | Evergy, Inc. | 5,863 | ||
90 | Eversource Energy | 6,385 | ||
127 | Exelon Corp. | 6,366 | ||
192 | FirstEnergy Corp. | 7,989 | ||
27 | NextEra Energy, Inc. | 5,220 | ||
384 | PPL Corp. | 12,188 | ||
232 | Southern (The) Co. | 11,990 | ||
117 | Xcel Energy, Inc. | 6,577 | ||
101,965 | ||||
Electrical Equipment – 1.3% | ||||
344 | Eaton Corp. PLC | 27,713 | ||
335 | Emerson Electric Co. | 22,937 | ||
99 | Rockwell Automation, Inc. | 17,371 | ||
68,021 | ||||
Electronic Equipment, Instruments & Components – 1.0% | ||||
1,187 | Corning, Inc. | 39,289 | ||
185 | TE Connectivity Ltd. | 14,939 | ||
54,228 | ||||
Energy Equipment & Services – 0.9% | ||||
514 | Baker Hughes a GE Co. | 14,248 | ||
336 | Halliburton Co. | 9,845 | ||
506 | Schlumberger Ltd. | 22,046 | ||
46,139 | ||||
Entertainment – 0.5% | ||||
1,042 | Viacom, Inc., Class B | 29,249 |
Shares | Description | Value | ||
Food & Staples Retailing – 1.4% | ||||
602 | Kroger (The) Co. | $14,809 | ||
322 | Sysco Corp. | 21,497 | ||
310 | Walgreens Boots Alliance, Inc. | 19,614 | ||
205 | Walmart, Inc. | 19,993 | ||
75,913 | ||||
Food Products – 2.7% | ||||
255 | Archer-Daniels-Midland Co. | 10,998 | ||
219 | Bunge Ltd. | 11,622 | ||
411 | Campbell Soup Co. | 15,672 | ||
595 | Conagra Brands, Inc. | 16,505 | ||
412 | General Mills, Inc. | 21,321 | ||
76 | Hershey (The) Co. | 8,727 | ||
119 | JM Smucker (The) Co. | 13,864 | ||
216 | Kellogg Co. | 12,394 | ||
431 | Kraft Heinz (The) Co. | 14,072 | ||
191 | Mondelez International, Inc., Class A | 9,535 | ||
151 | Tyson Foods, Inc., Class A | 10,484 | ||
145,194 | ||||
Gas Utilities – 0.1% | ||||
44 | Atmos Energy Corp. | 4,529 | ||
Health Care Equipment & Supplies – 0.8% | ||||
486 | Medtronic PLC | 44,265 | ||
Health Care Providers & Services – 2.1% | ||||
239 | AmerisourceBergen Corp. | 19,005 | ||
817 | Cardinal Health, Inc. | 39,339 | ||
614 | Quest Diagnostics, Inc. | 55,211 | ||
113,555 | ||||
Hotels, Restaurants & Leisure – 4.8% | ||||
690 | Carnival Corp. | 34,997 | ||
237 | Darden Restaurants, Inc. | 28,788 | ||
952 | Las Vegas Sands Corp. | 58,034 | ||
114 | McDonald’s Corp. | 21,649 | ||
701 | MGM Resorts International | 17,988 | ||
234 | Royal Caribbean Cruises Ltd. | 26,821 | ||
274 | Starbucks Corp. | 20,369 | ||
106 | Vail Resorts, Inc. | 23,034 | ||
241 | Wynn Resorts Ltd. | 28,756 | ||
260,436 | ||||
Household Durables – 0.5% | ||||
167 | Garmin Ltd. | 14,420 | ||
850 | Newell Brands, Inc. | 13,039 | ||
27,459 | ||||
Household Products – 0.8% | ||||
51 | Clorox (The) Co. | 8,184 | ||
150 | Colgate-Palmolive Co. | 10,281 |
Shares | Description | Value | ||
COMMON STOCKS (Continued) | ||||
Household Products (Continued) | ||||
99 | Kimberly-Clark Corp. | $12,266 | ||
107 | Procter & Gamble (The) Co. | 11,133 | ||
41,864 | ||||
Industrial Conglomerates – 1.4% | ||||
92 | 3M Co. | 19,116 | ||
4,121 | General Electric Co. | 41,169 | ||
107 | Honeywell International, Inc. | 17,004 | ||
77,289 | ||||
Insurance – 2.9% | ||||
171 | Aflac, Inc. | 8,550 | ||
92 | Allstate (The) Corp. | 8,665 | ||
282 | American International Group, Inc. | 12,143 | ||
104 | Arthur J. Gallagher & Co. | 8,122 | ||
60 | Chubb Ltd. | 8,405 | ||
121 | Cincinnati Financial Corp. | 10,394 | ||
416 | Fidelity National Financial, Inc. | 15,205 | ||
191 | Hartford Financial Services Group (The), Inc. | 9,496 | ||
177 | Lincoln National Corp. | 10,390 | ||
337 | MetLife, Inc. | 14,346 | ||
369 | Principal Financial Group, Inc. | 18,520 | ||
106 | Progressive (The) Corp. | 7,642 | ||
186 | Prudential Financial, Inc. | 17,090 | ||
72 | Travelers (The) Cos., Inc. | 9,875 | ||
158,843 | ||||
IT Services – 3.7% | ||||
82 | Accenture PLC, Class A | 14,434 | ||
100 | Automatic Data Processing, Inc. | 15,974 | ||
724 | International Business Machines Corp. | 102,156 | ||
694 | Leidos Holdings, Inc. | 44,479 | ||
315 | Paychex, Inc. | 25,263 | ||
202,306 | ||||
Leisure Products – 0.2% | ||||
122 | Hasbro, Inc. | 10,372 | ||
Machinery – 2.5% | ||||
125 | Caterpillar, Inc. | 16,936 | ||
152 | Cummins, Inc. | 23,996 | ||
231 | Dover Corp. | 21,668 | ||
136 | Illinois Tool Works, Inc. | 19,520 | ||
145 | Ingersoll-Rand PLC | 15,653 | ||
217 | PACCAR, Inc. | 14,786 | ||
81 | Parker-Hannifin Corp. | 13,901 | ||
57 | Stanley Black & Decker, Inc. | 7,762 | ||
134,222 | ||||
Media – 0.9% | ||||
564 | Comcast Corp., Class A | 22,549 |
Shares | Description | Value | ||
Media (Continued) | ||||
385 | Omnicom Group, Inc. | $28,101 | ||
50,650 | ||||
Metals & Mining – 0.3% | ||||
162 | Nucor Corp. | 9,452 | ||
236 | Steel Dynamics, Inc. | 8,324 | ||
17,776 | ||||
Multiline Retail – 2.0% | ||||
465 | Kohl’s Corp. | 31,978 | ||
1,465 | Macy’s, Inc. | 35,204 | ||
496 | Target Corp. | 39,809 | ||
106,991 | ||||
Multi-Utilities – 1.2% | ||||
81 | Ameren Corp. | 5,958 | ||
261 | Centerpoint Energy, Inc. | 8,013 | ||
109 | CMS Energy Corp. | 6,054 | ||
92 | Consolidated Edison, Inc. | 7,802 | ||
122 | Dominion Energy, Inc. | 9,352 | ||
55 | DTE Energy Co. | 6,861 | ||
125 | Public Service Enterprise Group, Inc. | 7,426 | ||
57 | Sempra Energy | 7,174 | ||
86 | WEC Energy Group, Inc. | 6,801 | ||
65,441 | ||||
Oil, Gas & Consumable Fuels – 4.9% | ||||
180 | Anadarko Petroleum Corp. | 8,187 | ||
479 | Apache Corp. | 16,602 | ||
125 | Chevron Corp. | 15,398 | ||
99 | ConocoPhillips | 6,607 | ||
229 | Exxon Mobil Corp. | 18,503 | ||
201 | Hess Corp. | 12,106 | ||
166 | HollyFrontier Corp. | 8,179 | ||
1,010 | Kinder Morgan, Inc. | 20,210 | ||
174 | Marathon Petroleum Corp. | 10,414 | ||
402 | Noble Energy, Inc. | 9,942 | ||
271 | Occidental Petroleum Corp. | 17,940 | ||
367 | ONEOK, Inc. | 25,631 | ||
137 | Phillips 66 | 13,038 | ||
925 | Targa Resources Corp. | 38,434 | ||
187 | Valero Energy Corp. | 15,863 | ||
921 | Williams (The) Cos., Inc. | 26,451 | ||
263,505 | ||||
Personal Products – 0.8% | ||||
3,712 | Coty, Inc., Class A | 42,688 | ||
Pharmaceuticals – 7.2% | ||||
337 | Allergan PLC | 49,340 | ||
1,249 | Bristol-Myers Squibb Co. | 59,590 | ||
352 | Eli Lilly & Co. | 45,675 | ||
445 | Johnson & Johnson | 62,207 | ||
714 | Merck & Co., Inc. | 59,383 | ||
1,060 | Perrigo Co. PLC | 51,050 |
Shares | Description | Value | ||
COMMON STOCKS (Continued) | ||||
Pharmaceuticals (Continued) | ||||
1,517 | Pfizer, Inc. | $64,427 | ||
391,672 | ||||
Road & Rail – 0.6% | ||||
84 | Norfolk Southern Corp. | 15,699 | ||
99 | Union Pacific Corp. | 16,553 | ||
32,252 | ||||
Semiconductors & Semiconductor Equipment – 9.8% | ||||
386 | Analog Devices, Inc. | 40,634 | ||
982 | Applied Materials, Inc. | 38,946 | ||
162 | Broadcom, Inc. | 48,715 | ||
820 | Intel Corp. | 44,034 | ||
534 | KLA-Tencor Corp. | 63,765 | ||
309 | Lam Research Corp. | 55,314 | ||
1,025 | Maxim Integrated Products, Inc. | 54,500 | ||
424 | Microchip Technology, Inc. | 35,175 | ||
1,129 | QUALCOMM, Inc. | 64,387 | ||
469 | Skyworks Solutions, Inc. | 38,683 | ||
444 | Texas Instruments, Inc. | 47,095 | ||
531,248 | ||||
Specialty Retail – 2.6% | ||||
519 | Best Buy Co., Inc. | 36,880 | ||
1,241 | Gap (The), Inc. | 32,489 | ||
116 | Home Depot (The), Inc. | 22,259 | ||
180 | Lowe’s Cos., Inc. | 19,705 | ||
279 | Tiffany & Co. | 29,449 | ||
140,782 | ||||
Technology Hardware, Storage & Peripherals – 6.5% | ||||
3,235 | Hewlett Packard Enterprise Co. | 49,916 | ||
2,004 | HP, Inc. | 38,938 | ||
507 | NetApp, Inc. | 35,155 | ||
2,547 | Seagate Technology PLC | 121,976 | ||
2,202 | Western Digital Corp. | 105,828 | ||
351,813 | ||||
Textiles, Apparel & Luxury Goods – 0.4% | ||||
379 | Tapestry, Inc. | 12,314 | ||
119 | VF Corp. | 10,342 | ||
22,656 | ||||
Tobacco – 0.9% | ||||
392 | Altria Group, Inc. | 22,513 | ||
321 | Philip Morris International, Inc. | 28,373 | ||
50,886 | ||||
Trading Companies & Distributors – 0.6% | ||||
346 | Fastenal Co. | 22,251 |
Shares | Description | Value | ||
Trading Companies & Distributors (Continued) | ||||
41 | WW Grainger, Inc. | $12,338 | ||
34,589 | ||||
Water Utilities – 0.1% | ||||
41 | American Water Works Co., Inc. | 4,275 | ||
Total Common Stocks | 4,960,782 | |||
(Cost $5,038,218) | ||||
REAL ESTATE INVESTMENT TRUSTS – 8.2% | ||||
Equity Real Estate Investment Trusts – 7.4% | ||||
96 | Alexandria Real Estate Equities, Inc. | 13,686 | ||
44 | American Tower Corp. | 8,671 | ||
66 | AvalonBay Communities, Inc. | 13,248 | ||
95 | Boston Properties, Inc. | 12,719 | ||
124 | Crown Castle International Corp. | 15,872 | ||
122 | Digital Realty Trust, Inc. | 14,518 | ||
416 | Duke Realty Corp. | 12,721 | ||
25 | Equinix, Inc. | 11,329 | ||
170 | Equity Residential | 12,805 | ||
42 | Essex Property Trust, Inc. | 12,148 | ||
141 | Extra Space Storage, Inc. | 14,369 | ||
651 | HCP, Inc. | 20,376 | ||
987 | Host Hotels & Resorts, Inc. | 18,654 | ||
374 | Invitation Homes, Inc. | 9,100 | ||
775 | Iron Mountain, Inc. | 27,482 | ||
140 | Mid-America Apartment Communities, Inc. | 15,306 | ||
191 | Prologis, Inc. | 13,743 | ||
67 | Public Storage | 14,591 | ||
227 | Realty Income Corp. | 16,698 | ||
221 | Regency Centers Corp. | 14,915 | ||
96 | Simon Property Group, Inc. | 17,492 | ||
281 | UDR, Inc. | 12,774 | ||
316 | Ventas, Inc. | 20,164 | ||
225 | Vornado Realty Trust | 15,174 | ||
247 | Welltower, Inc. | 19,167 | ||
947 | Weyerhaeuser Co. | 24,944 | ||
402,666 | ||||
Mortgage Real Estate Investment Trusts – 0.8% | ||||
4,267 | Annaly Capital Management, Inc. | 42,627 | ||
Total Real Estate Investment Trusts | 445,293 | |||
(Cost $427,271) | ||||
Total Investments – 99.5% | 5,406,075 | |||
(Cost $5,465,489) (a) | ||||
Net Other Assets and Liabilities – 0.5% | 27,453 | |||
Net Assets – 100.0% | $5,433,528 |
(a) | Aggregate cost for federal income tax purposes was $5,518,865. As of March 31, 2019, the aggregate gross unrealized appreciation for all investments in which there was an excess of value over tax cost was $238,657 and the aggregate gross unrealized depreciation for all investments in which there was an excess of tax cost over value was $351,447. The net unrealized depreciation was $112,790. |
Total Value at 3/31/2019 | Level 1 Quoted Prices | Level 2 Significant Observable Inputs | Level 3 Significant Unobservable Inputs | |
Common Stocks* | $ 4,960,782 | $ 4,960,782 | $ — | $ — |
Real Estate Investment Trusts* | 445,293 | 445,293 | — | — |
Total Investments | $ 5,406,075 | $ 5,406,075 | $— | $— |
* | See Portfolio of Investments for industry breakout. |
Developed International Equity Select ETF (RNDM) | Emerging Markets Equity Select ETF (RNEM) | Large Cap US Equity Select ETF (RNLC) | |||
ASSETS: | |||||
Investments, at value | $ 24,587,667 | $ 12,730,515 | $ 18,766,263 | ||
Cash | — | 23,048 | 14,471 | ||
Foreign currency | 14,840 | 165 | — | ||
Receivables: | |||||
Dividends | 143,505 | 12,390 | 27,290 | ||
Dividend reclaims | 25,598 | 416 | 1,113 | ||
Investment securities sold | — | — | — | ||
Total Assets | 24,771,610 | 12,766,534 | 18,809,137 | ||
LIABILITIES: | |||||
Due to custodian | 30,647 | — | — | ||
Payables: | |||||
Investment advisory fees | 13,631 | 7,631 | 9,493 | ||
Fund shares redeemed | — | — | — | ||
Deferred foreign capital gains tax | — | 35,414 | — | ||
Total Liabilities | 44,278 | 43,045 | 9,493 | ||
NET ASSETS | $24,727,332 | $12,723,489 | $18,799,644 | ||
NET ASSETS consist of: | |||||
Paid-in capital | $ 25,615,855 | $ 12,993,401 | $ 19,198,180 | ||
Par value | 5,000 | 2,500 | 8,500 | ||
Accumulated distributable earnings (loss) | (893,523) | (272,412) | (407,036) | ||
NET ASSETS | $24,727,332 | $12,723,489 | $18,799,644 | ||
NET ASSET VALUE,per share | $49.45 | $50.89 | $22.12 | ||
Number of shares outstanding (unlimited number of shares authorized, par value $0.01 per share) | 500,002 | 250,002 | 850,002 | ||
Investments, at cost | $24,816,977 | $12,529,959 | $18,777,930 | ||
Foreign currency, at cost (proceeds) | $14,841 | $165 | $— |
Mid Cap US Equity Select ETF (RNMC) | Small Cap US Equity Select ETF (RNSC) | US Equity Dividend Select ETF (RNDV) | ||
$ 13,835,519 | $ 5,183,441 | $ 5,406,075 | ||
3,160 | 21,090 | 15,951 | ||
— | — | — | ||
24,394 | 8,566 | 13,188 | ||
121 | — | 604 | ||
1,062,823 | — | — | ||
14,926,017 | 5,213,097 | 5,435,818 | ||
— | — | — | ||
7,602 | 2,674 | 2,290 | ||
1,065,594 | — | — | ||
— | — | — | ||
1,073,196 | 2,674 | 2,290 | ||
$ 13,852,821 | $ 5,210,423 | $ 5,433,528 | ||
$ 14,399,552 | $ 5,704,163 | $ 5,881,366 | ||
6,500 | 2,500 | 2,500 | ||
(553,231) | (496,240) | (450,338) | ||
$ 13,852,821 | $ 5,210,423 | $ 5,433,528 | ||
$21.31 | $20.84 | $21.73 | ||
650,002 | 250,002 | 250,002 | ||
$14,084,383 | $5,412,999 | $5,465,489 | ||
$— | $— | $— |
Developed International Equity Select ETF (RNDM) | Emerging Markets Equity Select ETF (RNEM) | Large Cap US Equity Select ETF (RNLC) | ||||
INVESTMENT INCOME: | ||||||
Dividends | $ 730,835 | $ 184,961 | $ 430,151 | |||
Interest | 701 | 669 | 520 | |||
Foreign withholding tax | (72,101) | (20,287) | (110) | |||
Other | 16 | 11 | 53 | |||
Total investment income | 659,451 | 165,354 | 430,614 | |||
EXPENSES: | ||||||
Investment advisory fees | 144,379 | 44,410 | 111,322 | |||
Total expenses | 144,379 | 44,410 | 111,322 | |||
NET INVESTMENT INCOME (LOSS) | 515,072 | 120,944 | 319,292 | |||
NET REALIZED AND UNREALIZED GAIN (LOSS): | ||||||
Net realized gain (loss) on: | ||||||
Investments | (729,946) | (344,364) | (436,237) | |||
In-kind redemptions | 141,784 | 273,518 | 859,203 | |||
Foreign currency transactions | (1,759) | 2,393 | — | |||
Foreign capital gains tax | (2,094) | 1,436 | — | |||
Net realized gain (loss) | (592,015) | (67,017) | 422,966 | |||
Net change in unrealized appreciation (depreciation) on: | ||||||
Investments | (245,996) | (233,660) | (155,835) | |||
Foreign currency translation | (1,977) | (128) | — | |||
Deferred foreign capital gains tax | — | (35,414) | — | |||
Net change in unrealized appreciation (depreciation) | (247,973) | (269,202) | (155,835) | |||
NET REALIZED AND UNREALIZED GAIN (LOSS) | (839,988) | (336,219) | 267,131 | |||
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS | $(324,916) | $(215,275) | $ 586,423 |
Mid Cap US Equity Select ETF (RNMC) | Small Cap US Equity Select ETF (RNSC) | US Equity Dividend Select ETF (RNDV) | |||
$237,144 | $135,260 | $175,893 | |||
364 | 196 | 242 | |||
(237) | (11) | (124) | |||
134 | 65 | 21 | |||
237,405 | 135,510 | 176,032 | |||
61,819 | 28,562 | 25,319 | |||
61,819 | 28,562 | 25,319 | |||
175,586 | 106,948 | 150,713 | |||
(251,170) | (230,780) | (420,092) | |||
298,374 | 288,540 | 246,899 | |||
— | — | — | |||
— | — | — | |||
47,204 | 57,760 | (173,193) | |||
(55,814) | (78,303) | 377,815 | |||
— | — | — | |||
— | — | — | |||
(55,814) | (78,303) | 377,815 | |||
(8,610) | (20,543) | 204,622 | |||
$166,976 | $86,405 | $355,335 |
Developed International Equity Select ETF (RNDM) | Emerging Markets Equity Select ETF (RNEM) | Large Cap US Equity Select ETF (RNLC) | |||||||||
Year Ended 3/31/2019 | Period Ended 3/31/2018 (a) | Year Ended 3/31/2019 | Period Ended 3/31/2018 (a) | Year Ended 3/31/2019 | Period Ended 3/31/2018 (a) | ||||||
OPERATIONS: | |||||||||||
Net investment income (loss) | $ 515,072 | $ 105,820 | $ 120,944 | $ 75,725 | $ 319,292 | $ 140,799 | |||||
Net realized gain (loss) | (592,015) | (6,059) | (67,017) | 179,267 | 422,966 | 316,108 | |||||
Net change in unrealized appreciation (depreciation) | (247,973) | 16,824 | (269,202) | 434,234 | (155,835) | 144,168 | |||||
Net increase (decrease) in net assets resulting from operations | (324,916) | 116,585 | (215,275) | 689,226 | 586,423 | 601,075 | |||||
DISTRIBUTIONS TO SHAREHOLDERS FROM: | |||||||||||
Investment operations | (488,802) | (177,038) | (306,111) | ||||||||
Net investment income | (64,251) | (72,642) | (114,600) | ||||||||
Net realized gain | — | (86,431) | — | ||||||||
Total distributions to shareholders | (488,802) | (64,251) | (177,038) | (159,073) | (306,111) | (114,600) | |||||
SHAREHOLDER TRANSACTIONS: | |||||||||||
Proceeds from shares sold | 15,190,686 | 12,793,458 | 10,360,964 | 10,287,399 | 5,615,275 | 24,235,245 | |||||
Cost of shares redeemed | (2,495,428) | — | (2,739,037) | (5,323,677) | (8,631,791) | (3,185,872) | |||||
Net increase (decrease) in net assets resulting from shareholder transactions | 12,695,258 | 12,793,458 | 7,621,927 | 4,963,722 | (3,016,516) | 21,049,373 | |||||
Total increase (decrease) in net assets | 11,881,540 | 12,845,792 | 7,229,614 | 5,493,875 | (2,736,204) | 21,535,848 | |||||
NET ASSETS: | |||||||||||
Beginning of period | 12,845,792 | — | 5,493,875 | — | 21,535,848 | — | |||||
End of period | $24,727,332 | $12,845,792 | $12,723,489 | $5,493,875 | $18,799,644 | $21,535,848 | |||||
Accumulated net investment income (loss) at end of period | $43,492 | $(77) | $26,144 | ||||||||
CHANGES IN SHARES OUTSTANDING: | |||||||||||
Shares outstanding, beginning of period | 250,002 | — | 100,002 | — | 1,000,002 | — | |||||
Shares sold | 300,000 | 250,002 | 200,000 | 200,002 | 250,000 | 1,150,002 | |||||
Shares redeemed | (50,000) | — | (50,000) | (100,000) | (400,000) | (150,000) | |||||
Shares outstanding, end of period | 500,002 | 250,002 | 250,002 | 100,002 | 850,002 | 1,000,002 |
(a) | Inception date is June 20, 2017, which is consistent with the commencement of investment operations and is the date the initial creation units were established. |
Mid Cap US Equity Select ETF (RNMC) | Small Cap US Equity Select ETF (RNSC) | US Equity Dividend Select ETF (RNDV) | ||||||||
Year Ended 3/31/2019 | Period Ended 3/31/2018 (a) | Year Ended 3/31/2019 | Period Ended 3/31/2018 (a) | Year Ended 3/31/2019 | Period Ended 3/31/2018 (a) | |||||
$ 175,586 | $ 48,134 | $ 106,948 | $ 42,930 | $ 150,713 | $ 170,361 | |||||
47,204 | 252,075 | 57,760 | 248,869 | (173,193) | 460,055 | |||||
(55,814) | (193,050) | (78,303) | (151,255) | 377,815 | (437,229) | |||||
166,976 | 107,159 | 86,405 | 140,544 | 355,335 | 193,187 | |||||
(158,905) | (91,906) | (157,451) | ||||||||
(35,690) | (32,411) | (133,605) | ||||||||
— | — | — | ||||||||
(158,905) | (35,690) | (91,906) | (32,411) | (157,451) | (133,605) | |||||
9,668,934 | 10,499,216 | 3,258,831 | 8,327,278 | 4,330,181 | 18,010,981 | |||||
(2,179,518) | (4,215,351) | (2,218,236) | (4,260,082) | (11,748,266) | (5,416,834) | |||||
7,489,416 | 6,283,865 | 1,040,595 | 4,067,196 | (7,418,085) | 12,594,147 | |||||
7,497,487 | 6,355,334 | 1,035,094 | 4,175,329 | (7,220,201) | 12,653,729 | |||||
6,355,334 | — | 4,175,329 | — | 12,653,729 | — | |||||
$13,852,821 | $ 6,355,334 | $ 5,210,423 | $ 4,175,329 | $ 5,433,528 | $ 12,653,729 | |||||
$10,196 | $7,800 | $35,938 | ||||||||
300,002 | — | 200,002 | — | 600,002 | — | |||||
450,000 | 500,002 | 150,000 | 400,002 | 200,000 | 850,002 | |||||
(100,000) | (200,000) | (100,000) | (200,000) | (550,000) | (250,000) | |||||
650,002 | 300,002 | 250,002 | 200,002 | 250,002 | 600,002 |
Year Ended 3/31/2019 | Period Ended 3/31/2018 (a) | ||
Net asset value, beginning of period | $ 51.38 | $ 49.73 | |
Income from investment operations: | |||
Net investment income (loss) | 1.07 | 0.62 | |
Net realized and unrealized gain (loss) | (1.90) | 1.48 | |
Total from investment operations | (0.83) | 2.10 | |
Distributions paid to shareholders from: | |||
Net investment income | (1.10) | (0.45) | |
Net asset value, end of period | $49.45 | $51.38 | |
Total return (b) | (1.71)% | 4.23% | |
Ratios to average net assets/supplemental data: | |||
Net assets, end of period (in 000’s) | $ 24,727 | $ 12,846 | |
Ratio of total expenses to average net assets | 0.65% | 0.66% (c) (d) | |
Ratio of net investment income (loss) to average net assets | 2.32% | 1.74% (c) | |
Portfolio turnover rate (e) | 52% | 21% |
(a) | Inception date is June 20, 2017, which is consistent with the commencement of investment operations and is the date the initial creation units were established. |
(b) | Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns presented do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is calculated for the time period presented and is not annualized for periods of less than a year. |
(c) | Annualized. |
(d) | Includes excise tax. If this excise tax was not included, the expense ratio would have been 0.65%. |
(e) | Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities received or delivered from processing creations or redemptions and in-kind transactions. |
Year Ended 3/31/2019 | Period Ended 3/31/2018 (a) | ||
Net asset value, beginning of period | $ 54.94 | $ 49.71 | |
Income from investment operations: | |||
Net investment income (loss) | 1.10 | 0.70 | |
Net realized and unrealized gain (loss) | (3.62) | 5.78 | |
Total from investment operations | (2.52) | 6.48 | |
Distributions paid to shareholders from: | |||
Net investment income | (1.19) | (0.67) | |
Net realized gain | (0.34) | (0.58) | |
Total distributions | (1.53) | (1.25) | |
Net asset value, end of period | $50.89 | $54.94 | |
Total return (b) | (4.48)% | 13.15% | |
Ratios to average net assets/supplemental data: | |||
Net assets, end of period (in 000’s) | $ 12,723 | $ 5,494 | |
Ratio of total expenses to average net assets | 0.75% | 0.75% (c) | |
Ratio of net investment income (loss) to average net assets | 2.04% | 1.75% (c) | |
Portfolio turnover rate (d) | 69% | 111% |
(a) | Inception date is June 20, 2017, which is consistent with the commencement of investment operations and is the date the initial creation units were established. |
(b) | Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns presented do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is calculated for the time period presented and is not annualized for periods of less than a year. |
(c) | Annualized. |
(d) | Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities received or delivered from processing creations or redemptions and in-kind transactions. |
Year Ended 3/31/2019 | Period Ended 3/31/2018 (a) | ||
Net asset value, beginning of period | $ 21.54 | $ 19.83 | |
Income from investment operations: | |||
Net investment income (loss) | 0.38 | 0.21 | |
Net realized and unrealized gain (loss) | 0.56 | 1.68 | |
Total from investment operations | 0.94 | 1.89 | |
Distributions paid to shareholders from: | |||
Net investment income | (0.36) | (0.18) | |
Net asset value, end of period | $22.12 | $21.54 | |
Total return (b) | 4.45% | 9.54% | |
Ratios to average net assets/supplemental data: | |||
Net assets, end of period (in 000’s) | $ 18,800 | $ 21,536 | |
Ratio of total expenses to average net assets | 0.60% | 0.60% (c) | |
Ratio of net investment income (loss) to average net assets | 1.72% | 1.71% (c) | |
Portfolio turnover rate (d) | 28% | 11% |
(a) | Inception date is June 20, 2017, which is consistent with the commencement of investment operations and is the date the initial creation units were established. |
(b) | Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns presented do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is calculated for the time period presented and is not annualized for periods of less than a year. |
(c) | Annualized. |
(d) | Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities received or delivered from processing creations or redemptions and in-kind transactions. |
Year Ended 3/31/2019 | Period Ended 3/31/2018 (a) | ||
Net asset value, beginning of period | $ 21.18 | $ 19.78 | |
Income from investment operations: | |||
Net investment income (loss) | 0.32 | 0.23 | |
Net realized and unrealized gain (loss) | 0.12 | 1.36 | |
Total from investment operations | 0.44 | 1.59 | |
Distributions paid to shareholders from: | |||
Net investment income | (0.31) | (0.19) | |
Net asset value, end of period | $21.31 | $21.18 | |
Total return (b) | 2.16% | 8.03% | |
Ratios to average net assets/supplemental data: | |||
Net assets, end of period (in 000’s) | $ 13,853 | $ 6,355 | |
Ratio of total expenses to average net assets | 0.60% | 0.60% (c) | |
Ratio of net investment income (loss) to average net assets | 1.70% | 1.71% (c) | |
Portfolio turnover rate (d) | 42% | 40% |
(a) | Inception date is June 20, 2017, which is consistent with the commencement of investment operations and is the date the initial creation units were established. |
(b) | Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns presented do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is calculated for the time period presented and is not annualized for periods of less than a year. |
(c) | Annualized. |
(d) | Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities received or delivered from processing creations or redemptions and in-kind transactions. |
Year Ended 3/31/2019 | Period Ended 3/31/2018 (a) | ||
Net asset value, beginning of period | $ 20.88 | $ 19.73 | |
Income from investment operations: | |||
Net investment income (loss) | 0.46 | 0.34 | |
Net realized and unrealized gain (loss) | (0.09) | 1.10 | |
Total from investment operations | 0.37 | 1.44 | |
Distributions paid to shareholders from: | |||
Net investment income | (0.41) | (0.29) | |
Net asset value, end of period | $20.84 | $20.88 | |
Total return (b) | 1.78% | 7.26% | |
Ratios to average net assets/supplemental data: | |||
Net assets, end of period (in 000’s) | $ 5,210 | $ 4,175 | |
Ratio of total expenses to average net assets | 0.60% | 0.60% (c) | |
Ratio of net investment income (loss) to average net assets | 2.25% | 2.22% (c) | |
Portfolio turnover rate (d) | 52% | 49% |
(a) | Inception date is June 20, 2017, which is consistent with the commencement of investment operations and is the date the initial creation units were established. |
(b) | Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns presented do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is calculated for the time period presented and is not annualized for periods of less than a year. |
(c) | Annualized. |
(d) | Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities received or delivered from processing creations or redemptions and in-kind transactions. |
Year Ended 3/31/2019 | Period Ended 3/31/2018 (a) | ||
Net asset value, beginning of period | $ 21.09 | $ 19.85 | |
Income from investment operations: | |||
Net investment income (loss) | 0.78 | 0.41 | |
Net realized and unrealized gain (loss) | 0.58 | 1.18 | |
Total from investment operations | 1.36 | 1.59 | |
Distributions paid to shareholders from: | |||
Net investment income | (0.72) | (0.35) | |
Net asset value, end of period | $21.73 | $21.09 | |
Total return (b) | 6.64% | 8.00% | |
Ratios to average net assets/supplemental data: | |||
Net assets, end of period (in 000’s) | $ 5,434 | $ 12,654 | |
Ratio of total expenses to average net assets | 0.50% | 0.50% (c) (d) | |
Ratio of net investment income (loss) to average net assets | 2.98% | 3.32% (c) | |
Portfolio turnover rate (e) | 98% | 37% |
(a) | Inception date is June 20, 2017, which is consistent with the commencement of investment operations and is the date the initial creation units were established. |
(b) | Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns presented do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is calculated for the time period presented and is not annualized for periods of less than a year. |
(c) | Annualized. |
(d) | Includes excise tax. |
(e) | Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities received or delivered from processing creations or redemptions and in-kind transactions. |
Fund | Index |
Developed International Equity Select ETF Emerging Markets Equity Select ETF Large Cap US Equity Select ETF Mid Cap US Equity Select ETF Small Cap US Equity Select ETF US Equity Dividend Select ETF | Nasdaq Riskalyze Developed Markets Index Nasdaq Riskalyze Emerging Markets Index Nasdaq Riskalyze US Large Cap Index Nasdaq Riskalyze US Mid Cap Index Nasdaq Riskalyze US Small Cap Index Nasdaq Riskalyze US Large Cap Select Dividend Index |
1) | the type of security; |
2) | the size of the holding; |
3) | the initial cost of the security; |
4) | transactions in comparable securities; |
5) | price quotes from dealers and/or third-party pricing services; |
6) | relationships among various securities; |
7) | information obtained by contacting the issuer, analysts, or the appropriate stock exchange; |
8) | an analysis of the issuer’s financial statements; and |
9) | the existence of merger proposals or tender offers that might affect the value of the security. |
1) | the value of similar foreign securities traded on other foreign markets; |
2) | ADR trading of similar securities; |
3) | closed-end fund or exchange-traded fund trading of similar securities; |
4) | foreign currency exchange activity; |
5) | the trading prices of financial products that are tied to baskets of foreign securities; |
6) | factors relating to the event that precipitated the pricing problem; |
7) | whether the event is likely to recur; and |
8) | whether the effects of the event are isolated or whether they affect entire markets, countries or regions. |
• | Level 1 – Level 1 inputs are quoted prices in active markets for identical investments. An active market is a market in which transactions for the investment occur with sufficient frequency and volume to provide pricing information on an ongoing basis. |
• | Level 2 – Level 2 inputs are observable inputs, either directly or indirectly, and include the following: |
o | Quoted prices for similar investments in active markets. |
o | Quoted prices for identical or similar investments in markets that are non-active. A non-active market is a market where there are few transactions for the investment, the prices are not current, or price quotations vary substantially either over time or among market makers, or in which little information is released publicly. |
o | Inputs other than quoted prices that are observable for the investment (for example, interest rates and yield curves observable at commonly quoted intervals, volatilities, prepayment speeds, loss severities, credit risks, and default rates). |
o | Inputs that are derived principally from or corroborated by observable market data by correlation or other means. |
• | Level 3 – Level 3 inputs are unobservable inputs. Unobservable inputs may reflect the reporting entity’s own assumptions about the assumptions that market participants would use in pricing the investment. |
Distributions paid from Ordinary Income | Distributions paid from Capital Gains | Distributions paid from Return of Capital | |||
Developed International Equity Select ETF | $ 488,802 | $ — | $ — | ||
Emerging Markets Equity Select ETF | 177,038 | — | — | ||
Large Cap US Equity Select ETF | 306,111 | — | — | ||
Mid Cap US Equity Select ETF | 158,905 | — | — | ||
Small Cap US Equity Select ETF | 91,906 | — | — | ||
US Equity Dividend Select ETF | 157,451 | — | — |
Distributions paid from Ordinary Income | Distributions paid from Capital Gains | Distributions paid from Return of Capital | |||
Developed International Equity Select ETF | $ 64,251 | $ — | $ — | ||
Emerging Markets Equity Select ETF | 159,073 | — | — | ||
Large Cap US Equity Select ETF | 114,600 | — | — | ||
Mid Cap US Equity Select ETF | 35,690 | — | — | ||
Small Cap US Equity Select ETF | 32,411 | — | — | ||
US Equity Dividend Select ETF | 133,605 | — | — |
Undistributed Ordinary Income | Accumulated Capital and Other Gain (Loss) | Net Unrealized Appreciation (Depreciation) | |||
Developed International Equity Select ETF | $ 207,563 | $ (727,964) | $ (373,122) | ||
Emerging Markets Equity Select ETF | — | (372,339) | 99,927 | ||
Large Cap US Equity Select ETF | 29,378 | (321,326) | (115,088) | ||
Mid Cap US Equity Select ETF | 24,510 | (167,000) | (410,741) | ||
Small Cap US Equity Select ETF | 9,882 | (168,581) | (337,541) | ||
US Equity Dividend Select ETF | 15,134 | (352,682) | (112,790) |
Capital Loss Available | |
Developed International Equity Select ETF | $ 727,964 |
Emerging Markets Equity Select ETF | 372,339 |
Large Cap US Equity Select ETF | 321,326 |
Mid Cap US Equity Select ETF | 167,000 |
Small Cap US Equity Select ETF | 168,581 |
US Equity Dividend Select ETF | 352,682 |
Accumulated Net Investment Income (Loss) | Accumulated Net Realized Gain (Loss) on Investments | Paid-in Capital | |||
Developed International Equity Select ETF | $ 14,259 | $ (146,780) | $ 132,521 | ||
Emerging Markets Equity Select ETF | 14,107 | (246,471) | 232,364 | ||
Large Cap US Equity Select ETF | (3,332) | (821,314) | 824,646 | ||
Mid Cap US Equity Select ETF | (1,868) | (228,959) | 230,827 | ||
Small Cap US Equity Select ETF | (6,746) | (250,183) | 256,929 | ||
US Equity Dividend Select ETF | (11,508) | (170,999) | 182,507 |
Rate | |
Developed International Equity Select ETF | 0.65% |
Emerging Markets Equity Select ETF | 0.75% |
Large Cap US Equity Select ETF | 0.60% |
Mid Cap US Equity Select ETF | 0.60% |
Small Cap Equity Select ETF | 0.60% |
US Equity Dividend Select ETF | 0.50% |
Purchases | Sales | ||
Developed International Equity Select ETF | $ 13,003,972 | $ 11,838,429 | |
Emerging Markets Equity Select ETF | 10,652,220 | 4,177,931 | |
Large Cap US Equity Select ETF | 5,320,010 | 5,305,279 | |
Mid Cap US Equity Select ETF | 4,372,009 | 4,307,073 | |
Small Cap US Equity Select ETF | 2,503,234 | 2,486,289 | |
US Equity Dividend Select ETF | 5,124,173 | 5,110,362 | |
Purchases | Sales | ||
Developed International Equity Select ETF | $ 13,756,976 | $ 2,307,519 | |
Emerging Markets Equity Select ETF | 3,272,474 | 2,187,170 | |
Large Cap US Equity Select ETF | 5,596,386 | 8,604,946 | |
Mid Cap US Equity Select ETF | 9,634,891 | 2,174,109 | |
Small Cap US Equity Select ETF | 3,245,060 | 2,212,665 | |
US Equity Dividend Select ETF | 4,295,869 | 11,706,628 |
Creation Transaction Fees | Redemption Transaction Fees | ||
Developed International Equity Select ETF | $ 2,500 | $ 2,500 | |
Emerging Markets Equity Select ETF | 2,500 | 2,500 | |
Large Cap US Equity Select ETF | 1,600 | 1,600 | |
Mid Cap US Equity Select ETF | 1,500 | 1,500 | |
Small Cap US Equity Select ETF | 1,350 | 1,350 | |
US Equity Dividend Select ETF | 650 | 650 |
Dividends Received Deduction | |
Developed International Equity Select ETF | 0.00% |
Emerging Markets Equity Select ETF | 0.00% |
Large Cap US Equity Select ETF | 100.00% |
Mid Cap US Equity Select ETF | 100.00% |
Small Cap US Equity Select ETF | 100.00% |
US Equity Dividend Select ETF | 100.00% |
Qualified Dividend Income | |
Developed International Equity Select ETF | 100.00% |
Emerging Markets Equity Select ETF | 77.25% |
Large Cap US Equity Select ETF | 100.00% |
Mid Cap US Equity Select ETF | 100.00% |
Small Cap US Equity Select ETF | 100.00% |
US Equity Dividend Select ETF | 100.00% |
Gross Foreign Income | Foreign Taxes Paid | ||||||
Amount | Per Share | Amount | Per Share | ||||
Developed International Equity Select ETF | $ 730,835 | $ 1.46 | $ 68,509 | $ 0.14 | |||
Emerging Markets Equity Select ETF | 184,960 | 0.74 | 19,101 | 0.08 |
NOT FDIC INSURED | NOT BANK GUARANTEED | MAY LOSE VALUE |
Name, Year of Birth and Position with the Trust | Term of Office and Year First Elected or Appointed | Principal Occupations During Past 5 Years | Number of Portfolios in the First Trust Fund Complex Overseen by Trustee | Other Trusteeships or Directorships Held by Trustee During Past 5 Years |
INDEPENDENT TRUSTEES | ||||
Richard E. Erickson, Trustee (1951) | • Indefinite Term ��� Since Inception | Physician; Officer, Wheaton Orthopedics; Limited Partner, Gundersen Real Estate Limited Partnership (June 1992 to December 2016); Member, Sportsmed LLC (April 2007 to November 2015) | 163 | None |
Thomas R. Kadlec, Trustee (1957) | • Indefinite Term • Since Inception | President, ADM Investor Services, Inc. (Futures Commission Merchant) | 163 | Director of ADM Investor Services, Inc., ADM Investor Services International, Futures Industry Association, and National Futures Association |
Robert F. Keith, Trustee (1956) | • Indefinite Term • Since Inception | President, Hibs Enterprises (Financial and Management Consulting) | 163 | Director of Trust Company of Illinois |
Niel B. Nielson, Trustee (1954) | • Indefinite Term • Since Inception | Senior Advisor (August 2018 to Present), Managing Director and Chief Operating Officer (January 2015 to August 2018), Pelita Harapan Educational Foundation (Educational Products and Services); President and Chief Executive Officer (June 2012 to September 2014), Servant Interactive LLC (Educational Products and Services); President and Chief Executive Officer (June 2012 to September 2014), Dew Learning LLC (Educational Products and Services) | 163 | Director of Covenant Transport, Inc. (May 2003 to May 2014) |
INTERESTED TRUSTEE | ||||
James A. Bowen(1), Trustee and Chairman of the Board (1955) | • Indefinite Term • Since Inception | Chief Executive Officer, First Trust Advisors L.P. and First Trust Portfolios L.P.; Chairman of the Board of Directors, BondWave LLC (Software Development Company) and Stonebridge Advisors LLC (Investment Advisor) | 163 | None |
(1) | Mr. Bowen is deemed an “interested person” of the Trust due to his position as CEO of First Trust Advisors L.P., investment advisor of the Trust. |
Name and Year of Birth | Position and Offices with Trust | Term of Office and Length of Service | Principal Occupations During Past 5 Years |
OFFICERS(2) | |||
James M. Dykas (1966) | President and Chief Executive Officer | • Indefinite Term • Since January 2016 | Managing Director and Chief Financial Officer (January 2016 to Present), Controller (January 2011 to January 2016), Senior Vice President (April 2007 to January 2016), First Trust Advisors L.P. and First Trust Portfolios L.P.; Chief Financial Officer (January 2016 to Present), BondWave LLC (Software Development Company) and Stonebridge Advisors LLC (Investment Advisor) |
Donald P. Swade (1972) | Treasurer, Chief Financial Officer and Chief Accounting Officer | • Indefinite Term • Since January 2016 | Senior Vice President (July 2016 to Present), Vice President (April 2012 to July 2016), First Trust Advisors L.P. and First Trust Portfolios L.P. |
W. Scott Jardine (1960) | Secretary and Chief Legal Officer | • Indefinite Term • Since Inception | General Counsel, First Trust Advisors L.P. and First Trust Portfolios L.P.; Secretary and General Counsel, BondWave LLC; Secretary, Stonebridge Advisors LLC |
Daniel J. Lindquist (1970) | Vice President | • Indefinite Term • Since Inception | Managing Director, First Trust Advisors L.P. and First Trust Portfolios L.P. |
Kristi A. Maher (1966) | Chief Compliance Officer and Assistant Secretary | • Indefinite Term • Since Inception | Deputy General Counsel, First Trust Advisors L.P. and First Trust Portfolios L.P. |
Roger F. Testin (1966) | Vice President | • Indefinite Term • Since Inception | Senior Vice President, First Trust Advisors L.P. and First Trust Portfolios L.P. |
Stan Ueland (1970) | Vice President | • Indefinite Term • Since Inception | Senior Vice President, First Trust Advisors L.P. and First Trust Portfolios L.P |
(2) | The term “officer” means the president, vice president, secretary, treasurer, controller or any other officer who performs a policy making function. |
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FUND ACCOUNTANT &
TRANSFER AGENT
PUBLIC ACCOUNTING FIRM
Item 2. Code of Ethics.
(a) | The registrant, as of the end of the period covered by this report, has adopted a code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party. |
(c) | There have been no amendments, during the period covered by this report, to a provision of the code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party, and that relates to any element of the code of ethics description. |
(d) | The registrant, during the period covered by this report, has not granted any waivers, including an implicit waiver, from a provision of the code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party, that relates to one or more of the items set forth in paragraph (b) of this item’s instructions. |
(e) | Not applicable. |
Item 3. Audit Committee Financial Expert.
As of the end of the period covered by the report, the registrant’s Board of Trustees has determined that Thomas R. Kadlec and Robert F. Keith are qualified to serve as audit committee financial experts serving on its audit committee and that each of them is “independent,” as defined by Item 3 of Form N-CSR.
Item 4. Principal Accountant Fees and Services.
(a) | Audit Fees (Registrant) -- The aggregate fees billed for professional services rendered by the principal accountant for the audit of the registrant’s annual financial statements or services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements were $233,750 for the fiscal year ended March 31, 2018 and $249,376 for the fiscal year ended March 31, 2019. |
(b) | Audit-Related Fees (Registrant) -- The aggregate fees billed for assurance and related services by the principal accountant that are reasonably related to the performance of the audit of the registrant’s financial statements and are not reported under paragraph (a) of this Item were $0 for the fiscal year ended March 31, 2018 and $0 for the fiscal year ended March 31, 2019. |
Audit-Related Fees (Investment Adviser and Distributor) -- The aggregate fees billed for assurance and related services by the principal accountant that are reasonably related to the performance of the audit of the registrant’s financial statements and are not reported under paragraph (a) of this Item were $0 for the fiscal year ended March 31, 2018 and $0 for the fiscal year ended March 31, 2019.
(c) | Tax Fees (Registrant) -- The aggregate fees billed for professional services rendered by the principal accountant for tax compliance, tax advice, and tax planning to the registrant were $24,100 for the fiscal year ended March 31, 2018 and $40,175 for the fiscal year ended March 31, 2019. |
Tax Fees (Investment Adviser and Distributor) -- The aggregate fees billed for professional services rendered by the principal accountant for tax compliance, tax advice, and tax planning to the registrant’s adviser and distributor were $0 for the fiscal year ended March 31, 2018 and $0 for the fiscal year ended March 31, 2019.
(d) | All Other Fees (Registrant) -- The aggregate fees billed for products and services provided by the principal accountant to the registrant, other than the services reported in paragraphs (a) through (c) of this Item were $0 for the fiscal year ended March 31, 2018 and $0 for the fiscal year ended March 31, 2019. |
All Other Fees (Investment Adviser and Distributor) -- The aggregate fees billed for products and services provided by the principal accountant to the registrant’s investment adviser and distributor, other than the services reported in paragraphs (a) through (c) of this Item were $0 for the fiscal year ended March 31, 2018 and $0 for the fiscal year ended March 31, 2019.
(e)(1) | Disclose the audit committee’s pre-approval policies and procedures described in paragraph (c) (7) of Rule 2-01 of Regulation S-X. |
Pursuant to its charter and its Audit and Non-Audit Services Pre-Approval Policy, the Audit Committee (the “Committee”) is responsible for the pre-approval of all audit services and permitted non-audit services (including the fees and terms thereof) to be performed for the registrant by its independent auditors. The Chairman of the Committee is authorized to give such pre-approvals on behalf of the Committee up to $25,000 and report any such pre-approval to the full Committee.
The Committee is also responsible for the pre-approval of the independent auditor’s engagements for non-audit services with the registrant’s adviser (not including a sub-adviser whose role is primarily portfolio management and is sub-contracted or overseen by another investment adviser) and any entity controlling, controlled by or under common control with the investment adviser that provides ongoing services to the registrant, if the engagement relates directly to the operations and financial reporting of the registrant, subject to thede minimis exceptions for non-audit services described in Rule 2-01 of Regulation S-X. If the independent auditor has provided non-audit services to the registrant’s adviser (other than any sub-adviser whose role is primarily portfolio management and is sub-contracted with or overseen by another investment adviser) and any entity controlling, controlled by or under common control with the investment adviser that provides ongoing services to the registrant that were not pre-approved pursuant to its policies, the Committee will consider whether the provision of such non-audit services is compatible with the auditor’s independence.
(e)(2) | The percentage of services described in each of paragraphs (b) through (d) for the registrant and the registrant’s investment adviser and distributor of this Item that were approved by the audit committee pursuant to the pre-approval exceptions included in paragraph (c)(7)(i)(C) or paragraph(C)(7)(ii) of Rule 2-01 of Regulation S-X are as follows: |
Registrant:Adviser and Distributor:
(b) 0% (b) 0%
(c) 0% (c) 0%
(d) 0% (d) 0%
(f) | The percentage of hours expended on the principal accountant’s engagement to audit the registrant’s financial statements for the most recent fiscal year that were attributed to work performed by persons other than the principal accountant’s full-time, permanent employees was less than fifty percent. |
(g) | The aggregate non-audit fees billed by the registrant’s accountant for services rendered to the registrant, and rendered to the registrant’s investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the adviser that provides ongoing services to the registrant for the fiscal year ended March 31, 2018, were $24,100 for the registrant, $12,000 for the registrant’s investment adviser, and $29,000 for the registrant’s distributor and for the fiscal year ended March 31, 2019, were $40,175 for the registrant, $27,379.63 for the registrant’s investment adviser, and $39,346.37 for the registrant’s distributor. |
(h) | The registrant’s audit committee of its Board of Trustees has determined that the provision of non-audit services that were rendered to the registrant’s investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the registrant that were not pre-approved pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X is compatible with maintaining the principal accountant’s independence. |
Items 5. Audit Committee of Listed Registrants.
The registrant has a separately designated standing audit committee established in accordance with Section 3(a)(58)(A) of the Securities Exchange Act of 1934. The audit committee of the registrant is comprised of: Richard E. Erickson, Thomas R. Kadlec, Robert F. Keith and Niel B. Nielson.
Item 6. Investments.
(a) | The Schedule of Investments in securities of unaffiliated issuers as of the close of the reporting period is included as part of the report to shareholders filed under Item 1 of this form. |
(b) | Not applicable. |
Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
Not applicable.
Item 8. Portfolio Managers of Closed-End Management Investment Companies.
Not applicable.
Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.
Not applicable.
Item 10. Submission of Matters to a Vote of Security Holders.
There have been no material changes to the procedures by which the shareholders may recommend nominees to the registrant’s board of directors, where those changes were implemented after the registrant last provided disclosure in response to the requirements of Item 407 (c) (2) (iv) of Regulation S-K (17 CFR 229.407) (as required by Item 22 (b) (15) of Schedule 14A (17 CFR 240.14a-101)), or this Item.
Item 11. Controls and Procedures.
(a) | The registrant’s principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”) (17 CFR 270.30a-3 (c))) are effective, as of a date within 90 days of the filing date of the report that includes the disclosure required by this paragraph, based on their evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended (17 CFR 240.13a-15(b) or 240.15d-15 (b)). |
(b) | There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the registrant’s last fiscal quarter of the period covered by this report that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting. |
Item 12. Exhibits.
(a)(1) | Code of ethics, or any amendment thereto, that is the subject of disclosure required by Item 2 is attached hereto. |
(a)(2) | Certifications pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 of the Sarbanes-Oxley Act of 2002 are attached hereto. |
(a)(3) | Not Applicable |
(b) | Certifications pursuant to Rule 30a-2(b) under the 1940 Act and Section 906 of the Sarbanes-Oxley Act of 2002 are attached hereto. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
(registrant) | First Trust Exchange-Traded Fund VI |
By (Signature and Title)* | /s/ James M. Dykas | |||
James M. Dykas, President and Chief Executive Officer (principal executive officer) |
Date | May 23, 2019 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By (Signature and Title)* | /s/ James M. Dykas | |||
James M. Dykas, President and Chief Executive Officer (principal executive officer) |
Date | May 23, 2019 |
By (Signature and Title)* | /s/ Donald P. Swade | |||
Donald P. Swade, Treasurer, Chief Financial Officer and Chief Accounting Officer (principal financial officer) |
Date | May 23, 2019 |