As filed with the Securities and Exchange Commission on September 2, 2022
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF
REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number: 811-23227
SYNTAX ETF TRUST
(Exact Name of Registrant as Specified in Charter)
One Liberty Plaza, 46th Floor
New York, NY 10006
(Address of Principal Executive Offices) (Zip Code)
Registrant’s Telephone Number, including Area Code: (212) 880-0200
Carly Arison, One Liberty Plaza, 46th Floor New York, NY 10006
(Name and Address of Agent for Service)
Copies to:
Kathleen H. Moriarty
Counsel to the Trust
Chapman & Cutler LLP
1270 Avenue of the Americas, 30th Floor
New York, New York 10020
Date of fiscal year end: December 31
Date of reporting period: June 30, 2022
Item 1: | Report(s) to Shareholders. |
The Semi-Annual Report is attached.
June 30, 2022
(Unaudited)
Security Description | Shares | Value |
COMMON STOCK—99.7% | ||
3M Co. | 1,233 | $159,563 |
A O Smith Corp. | 2,637 | 144,191 |
Abbott Laboratories | 580 | 63,017 |
AbbVie, Inc. | 1,674 | 256,390 |
ABIOMED, Inc.(a) | 337 | 83,411 |
Accenture PLC, Class A | 593 | 164,646 |
Activision Blizzard, Inc. | 4,451 | 346,555 |
Adobe, Inc.(a) | 437 | 159,968 |
Advance Auto Parts, Inc. | 708 | 122,548 |
Advanced Micro Devices, Inc.(a) | 1,432 | 109,505 |
AES Corp. | 18,511 | 388,916 |
Aflac, Inc. | 3,063 | 169,476 |
Agilent Technologies, Inc. | 945 | 112,238 |
Air Products and Chemicals, Inc. | 197 | 47,375 |
Akamai Technologies, Inc.(a) | 3,496 | 319,290 |
Alaska Air Group, Inc.(a) | 3,482 | 139,454 |
Albemarle Corp. | 203 | 42,423 |
Alexandria Real Estate Equities, Inc., REIT | 775 | 112,398 |
Align Technology, Inc.(a) | 496 | 117,388 |
Allegion PLC | 653 | 63,929 |
Alliant Energy Corp. | 1,435 | 84,105 |
Allstate Corp. | 1,366 | 173,113 |
Alphabet, Inc., Class A(a) | 76 | 165,624 |
Alphabet, Inc., Class C(a) | 76 | 166,246 |
Altria Group, Inc. | 7,831 | 327,101 |
Amazon.com, Inc.(a) | 1,250 | 132,763 |
Amcor PLC | 6,672 | 82,933 |
Ameren Corp. | 955 | 86,294 |
American Airlines Group, Inc.(a) | 10,415 | 132,062 |
American Electric Power Co., Inc. | 2,598 | 249,252 |
American Express Co. | 293 | 40,616 |
American International Group, Inc. | 4,775 | 244,146 |
American Tower Corp., REIT | 229 | 58,530 |
American Water Works Co., Inc. | 2,301 | 342,320 |
Ameriprise Financial, Inc. | 453 | 107,669 |
AmerisourceBergen Corp. | 1,416 | 200,336 |
AMETEK, Inc. | 1,108 | 121,758 |
Amgen, Inc. | 1,002 | 243,787 |
Amphenol Corp., Class A | 3,778 | 243,228 |
Analog Devices, Inc. | 1,442 | 210,662 |
ANSYS, Inc.(a) | 702 | 167,982 |
Aon PLC, Class A | 143 | 38,564 |
APA Corp. | 1,311 | 45,754 |
Apple, Inc. | 3,718 | 508,325 |
Applied Materials, Inc. | 1,674 | 152,301 |
Aptiv PLC(a) | 3,781 | 336,774 |
Archer-Daniels-Midland Co. | 6,030 | 467,928 |
Arista Networks, Inc.(a) | 2,156 | 202,103 |
Arthur J Gallagher & Co. | 245 | 39,945 |
Assurant, Inc. | 978 | 169,047 |
AT&T, Inc. | 12,345 | 258,751 |
Security Description | Shares | Value |
Atmos Energy Corp. | 3,044 | $341,232 |
Autodesk, Inc.(a) | 908 | 156,140 |
Automatic Data Processing, Inc. | 1,071 | 224,953 |
AutoZone, Inc.(a) | 62 | 133,245 |
AvalonBay Communities, Inc., REIT | 662 | 128,594 |
Avery Dennison Corp. | 375 | 60,701 |
Baker Hughes Co. | 9,659 | 278,855 |
Ball Corp. | 1,243 | 85,481 |
Bank of America Corp. | 3,843 | 119,633 |
Bank of New York Mellon Corp. | 2,650 | 110,532 |
Bath & Body Works, Inc. | 10,056 | 270,708 |
Baxter International, Inc. | 698 | 44,833 |
Becton Dickinson and Co. | 200 | 49,306 |
Berkshire Hathaway, Inc., Class B(a) | 1,746 | 476,693 |
Best Buy Co., Inc. | 3,523 | 229,664 |
Biogen, Inc.(a) | 1,218 | 248,399 |
Bio-Rad Laboratories, Inc., Class A(a) | 252 | 124,740 |
Bio-Techne Corp. | 335 | 116,124 |
BlackRock, Inc. | 183 | 111,454 |
Boeing Co.(a) | 1,340 | 183,205 |
Booking Holdings, Inc.(a) | 105 | 183,644 |
BorgWarner, Inc. | 10,211 | 340,741 |
Boston Properties, Inc., REIT | 1,176 | 104,640 |
Boston Scientific Corp.(a) | 1,713 | 63,844 |
Bristol-Myers Squibb Co. | 3,208 | 247,016 |
Broadcom, Inc. | 420 | 204,040 |
Broadridge Financial Solutions, Inc. | 815 | 116,178 |
Brown & Brown, Inc. | 681 | 39,730 |
Brown-Forman Corp., Class B | 3,729 | 261,627 |
Cadence Design Systems, Inc.(a) | 2,284 | 342,669 |
Caesars Entertainment, Inc.(a) | 1,244 | 47,645 |
Camden Property Trust | 957 | 128,697 |
Campbell Soup Co. | 4,660 | 223,913 |
Capital One Financial Corp. | 3,028 | 315,487 |
Cardinal Health, Inc. | 3,818 | 199,567 |
CarMax, Inc.(a) | 1,327 | 120,067 |
Carnival Corp.(a) | 7,709 | 66,683 |
Carrier Global Corp. | 1,860 | 66,328 |
Catalent, Inc.(a) | 2,253 | 241,724 |
Caterpillar, Inc. | 792 | 141,578 |
Cboe Global Markets, Inc. | 414 | 46,861 |
CBRE Group, Inc., Class A(a) | 514 | 37,836 |
CDW Corp. | 764 | 120,376 |
Celanese Corp. | 472 | 55,512 |
Centene Corp.(a) | 3,424 | 289,705 |
CenterPoint Energy, Inc. | 8,474 | 250,661 |
Ceridian HCM Holding, Inc.(a) | 4,339 | 204,280 |
CF Industries Holdings, Inc. | 977 | 83,758 |
CH Robinson Worldwide, Inc. | 844 | 85,556 |
Charles River Laboratories International, Inc.(a) | 511 | 109,339 |
Charles Schwab Corp. | 4,099 | 258,975 |
Security Description | Shares | Value |
Charter Communications, Inc., Class A(a) | 721 | $337,810 |
Chevron Corp. | 4,372 | 632,978 |
Chipotle Mexican Grill, Inc.(a) | 383 | 500,681 |
Chubb Ltd. | 1,016 | 199,725 |
Church & Dwight Co., Inc. | 5,949 | 551,234 |
Cigna Corp. | 803 | 211,607 |
Cincinnati Financial Corp. | 1,711 | 203,575 |
Cintas Corp. | 513 | 191,621 |
Cisco Systems, Inc. | 4,701 | 200,451 |
Citigroup, Inc. | 2,679 | 123,207 |
Citizens Financial Group, Inc. | 1,547 | 55,212 |
Citrix Systems, Inc. | 2,319 | 225,337 |
Clorox Co. | 3,900 | 549,822 |
CME Group, Inc. | 233 | 47,695 |
CMS Energy Corp. | 1,258 | 84,915 |
Coca-Cola Co. | 4,155 | 261,391 |
Cognizant Technology Solutions Corp., Class A | 1,623 | 109,536 |
Colgate-Palmolive Co. | 6,671 | 534,614 |
Comcast Corp., Class A | 8,174 | 320,748 |
Comerica, Inc. | 2,716 | 199,300 |
Conagra Brands, Inc. | 6,727 | 230,332 |
ConocoPhillips | 544 | 48,857 |
Consolidated Edison, Inc. | 2,682 | 255,058 |
Constellation Brands, Inc., Class A | 1,070 | 249,374 |
Constellation Energy Corp. | 6,408 | 366,922 |
Cooper Companies, Inc. | 380 | 118,986 |
Copart, Inc.(a) | 2,097 | 227,860 |
Corning, Inc. | 7,677 | 241,902 |
Corteva, Inc. | 1,474 | 79,802 |
Costco Wholesale Corp. | 1,656 | 793,688 |
Coterra Energy, Inc. | 7,436 | 191,774 |
Crown Castle International Corp., REIT | 325 | 54,724 |
CSX Corp. | 2,804 | 81,484 |
Cummins, Inc. | 334 | 64,639 |
CVS Health Corp. | 7,311 | 677,437 |
Danaher Corp. | 507 | 128,535 |
Darden Restaurants, Inc. | 4,260 | 481,891 |
DaVita, Inc.(a) | 915 | 73,163 |
Deere & Co. | 510 | 152,730 |
Delta Air Lines, Inc.(a) | 4,376 | 126,773 |
DENTSPLY SIRONA, Inc. | 1,335 | 47,700 |
Devon Energy Corp. | 3,452 | 190,240 |
Dexcom, Inc.(a) | 1,740 | 129,682 |
Diamondback Energy, Inc. | 416 | 50,398 |
Digital Realty Trust, Inc., REIT | 2,596 | 337,039 |
Discover Financial Services | 3,472 | 328,382 |
DISH Network Corp., Class A(a) | 12,725 | 228,159 |
Dollar General Corp. | 728 | 178,680 |
Dollar Tree, Inc.(a) | 1,094 | 170,500 |
Dominion Energy, Inc. | 3,224 | 257,307 |
Domino's Pizza, Inc. | 1,350 | 526,108 |
Security Description | Shares | Value |
Dover Corp. | 1,318 | $159,900 |
Dow, Inc. | 1,097 | 56,616 |
DR Horton, Inc. | 3,634 | 240,534 |
DTE Energy Co. | 2,000 | 253,500 |
Duke Energy Corp. | 790 | 84,696 |
Duke Realty Corp., REIT | 1,139 | 62,588 |
DuPont de Nemours, Inc. | 760 | 42,241 |
DXC Technology Co.(a) | 3,461 | 104,903 |
Eastman Chemical Co. | 483 | 43,359 |
Eaton Corp. PLC | 1,859 | 234,215 |
eBay, Inc. | 3,416 | 142,345 |
Ecolab, Inc. | 306 | 47,051 |
Edison International | 3,820 | 241,577 |
Edwards Lifesciences Corp.(a) | 685 | 65,137 |
Electronic Arts, Inc. | 2,546 | 309,721 |
Elevance Health, Inc. | 564 | 272,175 |
Eli Lilly & Co. | 806 | 261,329 |
Emerson Electric Co. | 423 | 33,645 |
Enphase Energy, Inc.(a) | 1,299 | 253,617 |
Entergy Corp. | 2,209 | 248,822 |
EOG Resources, Inc. | 440 | 48,594 |
EPAM Systems, Inc.(a) | 373 | 109,953 |
Equifax, Inc. | 308 | 56,296 |
Equinix, Inc., REIT | 521 | 342,307 |
Equity Residential, REIT | 1,770 | 127,829 |
Essex Property Trust, Inc., REIT | 474 | 123,956 |
Estee Lauder Companies, Inc., Class A | 2,043 | 520,291 |
Etsy, Inc.(a) | 1,992 | 145,834 |
Everest Re Group Ltd. | 737 | 206,566 |
Evergy, Inc. | 1,278 | 83,390 |
Eversource Energy | 970 | 81,936 |
Exelon Corp. | 8,326 | 377,334 |
Expedia Group, Inc.(a) | 1,978 | 187,574 |
Expeditors International of Washington, Inc. | 865 | 84,303 |
Extra Space Storage, Inc., REIT | 766 | 130,312 |
Exxon Mobil Corp. | 7,624 | 652,919 |
F5, Inc.(a) | 1,301 | 199,105 |
FactSet Research Systems, Inc. | 159 | 61,147 |
Fastenal Co. | 2,458 | 122,703 |
Federal Realty OP L.P. | 664 | 63,571 |
FedEx Corp. | 415 | 94,085 |
Fidelity National Information Services, Inc. | 582 | 53,352 |
Fifth Third Bancorp | 1,588 | 53,357 |
First Republic Bank | 1,446 | 208,513 |
FirstEnergy Corp. | 6,293 | 241,588 |
Fiserv, Inc.(a) | 607 | 54,005 |
FleetCor Technologies, Inc.(a) | 186 | 39,080 |
FMC Corp. | 759 | 81,221 |
Ford Motor Co. | 20,033 | 222,967 |
Fortinet, Inc.(a) | 5,890 | 333,256 |
Fortive Corp. | 620 | 33,716 |
Fortune Brands Home & Security, Inc. | 2,351 | 140,778 |
Security Description | Shares | Value |
Fox Corp., Class A | 3,150 | $101,304 |
Fox Corp., Class B | 3,408 | 101,218 |
Franklin Resources, Inc. | 4,627 | 107,855 |
Freeport-McMoRan, Inc. | 8,467 | 247,744 |
Garmin Ltd. | 5,110 | 502,057 |
Gartner, Inc.(a) | 460 | 111,242 |
Generac Holdings, Inc.(a) | 264 | 55,593 |
General Dynamics Corp. | 761 | 168,371 |
General Electric Co. | 2,396 | 152,553 |
General Mills, Inc. | 3,200 | 241,440 |
General Motors Co.(a) | 7,298 | 231,784 |
Genuine Parts Co. | 936 | 124,488 |
Gilead Sciences, Inc. | 3,961 | 244,829 |
Global Payments, Inc. | 382 | 42,264 |
Globe Life, Inc. | 1,858 | 181,099 |
Goldman Sachs Group, Inc. | 885 | 262,863 |
Halliburton Co. | 8,404 | 263,549 |
Hartford Financial Services Group, Inc. | 3,740 | 244,708 |
Hasbro, Inc. | 2,254 | 184,558 |
HCA Healthcare, Inc. | 1,734 | 291,416 |
Healthpeak Properties, Inc., REIT | 3,326 | 86,177 |
Henry Schein, Inc.(a) | 2,512 | 192,771 |
Hershey Co. | 900 | 193,644 |
Hess Corp. | 500 | 52,970 |
Hewlett Packard Enterprise Co. | 17,939 | 237,871 |
Hilton Worldwide Holdings, Inc. | 887 | 98,847 |
Hologic, Inc.(a) | 1,780 | 123,354 |
Home Depot, Inc. | 878 | 240,809 |
Honeywell International, Inc. | 918 | 159,558 |
Hormel Foods Corp. | 11,139 | 527,543 |
Host Hotels & Resorts, Inc., REIT | 6,090 | 95,491 |
Howmet Aerospace, Inc. | 2,046 | 64,347 |
HP, Inc. | 14,478 | 474,589 |
Humana, Inc. | 610 | 285,523 |
Huntington Bancshares, Inc. | 4,554 | 54,785 |
Huntington Ingalls Industries, Inc. | 602 | 131,128 |
IDEX Corp. | 1,038 | 188,532 |
IDEXX Laboratories, Inc.(a) | 369 | 129,419 |
Illinois Tool Works, Inc. | 868 | 158,193 |
Illumina, Inc.(a) | 555 | 102,320 |
Incyte Corp.(a) | 3,411 | 259,134 |
Ingersoll Rand, Inc. | 4,127 | 173,664 |
Intel Corp. | 3,472 | 129,888 |
Intercontinental Exchange, Inc. | 467 | 43,917 |
International Business Machines Corp. | 827 | 116,764 |
International Flavors & Fragrances, Inc. | 384 | 45,742 |
International Paper Co. | 1,421 | 59,440 |
Interpublic Group of Companies, Inc. | 3,916 | 107,807 |
Intuit, Inc. | 594 | 228,951 |
Intuitive Surgical, Inc.(a) | 413 | 82,893 |
Invesco Ltd. | 6,571 | 105,990 |
IQVIA Holdings, Inc.(a) | 552 | 119,778 |
Security Description | Shares | Value |
Iron Mountain, Inc., REIT | 1,113 | $54,192 |
J M Smucker Co. | 1,704 | 218,129 |
Jack Henry & Associates, Inc. | 318 | 57,246 |
Jacobs Engineering Group, Inc. | 2,973 | 377,957 |
JB Hunt Transport Services, Inc. | 513 | 80,782 |
Johnson & Johnson | 1,397 | 247,981 |
Johnson Controls International PLC | 1,344 | 64,351 |
JPMorgan Chase & Co. | 1,069 | 120,380 |
Juniper Networks, Inc. | 7,091 | 202,093 |
Kellogg Co. | 2,751 | 196,256 |
Keurig Dr Pepper, Inc. | 7,196 | 254,666 |
KeyCorp | 3,195 | 55,050 |
Keysight Technologies, Inc.(a) | 1,457 | 200,847 |
Kimberly-Clark Corp. | 3,998 | 540,330 |
Kimco Realty Corp., REIT | 3,293 | 65,103 |
Kinder Morgan, Inc. | 17,886 | 299,769 |
KLA Corp. | 512 | 163,369 |
Kraft Heinz Co. | 5,843 | 222,852 |
Kroger Co. | 15,007 | 710,281 |
L3Harris Technologies, Inc. | 531 | 128,343 |
Laboratory Corp. of America Holdings | 754 | 176,707 |
Lam Research Corp. | 364 | 155,119 |
Lamb Weston Holdings, Inc. | 3,286 | 234,818 |
Las Vegas Sands Corp.(a) | 1,693 | 56,868 |
Leidos Holdings, Inc. | 1,123 | 113,097 |
Lennar Corp., Class A | 3,429 | 241,985 |
Lincoln National Corp. | 3,329 | 155,697 |
Linde PLC(a) | 158 | 45,430 |
Live Nation Entertainment, Inc.(a) | 918 | 75,808 |
LKQ Corp. | 2,581 | 126,701 |
Lockheed Martin Corp. | 293 | 125,978 |
Loews Corp. | 8,471 | 501,991 |
Lowe's Companies, Inc. | 1,373 | 239,822 |
Lumen Technologies, Inc. | 30,253 | 330,060 |
LyondellBasell Industries N.V., Class A | 662 | 57,899 |
M&T Bank Corp. | 347 | 55,308 |
Marathon Oil Corp. | 2,111 | 47,455 |
Marathon Petroleum Corp. | 4,710 | 387,209 |
MarketAxess Holdings, Inc. | 163 | 41,730 |
Marriott International, Inc., Class A | 703 | 95,615 |
Marsh & McLennan Companies, Inc. | 254 | 39,434 |
Martin Marietta Materials, Inc. | 533 | 159,495 |
Masco Corp. | 2,797 | 141,528 |
Mastercard, Inc., Class A | 132 | 41,643 |
Match Group, Inc.(a) | 4,451 | 310,190 |
McCormick & Co., Inc. | 2,486 | 206,959 |
McDonald's Corp. | 2,151 | 531,039 |
McKesson Corp. | 656 | 213,994 |
Medtronic PLC | 691 | 62,017 |
Merck & Co., Inc. | 2,763 | 251,903 |
Meta Platforms, Inc., Class A(a) | 1,938 | 312,502 |
MetLife, Inc. | 2,675 | 167,963 |
Security Description | Shares | Value |
Mettler-Toledo International, Inc.(a) | 93 | $106,836 |
MGM Resorts International | 1,785 | 51,676 |
Microchip Technology, Inc. | 2,125 | 123,420 |
Micron Technology, Inc. | 2,174 | 120,179 |
Microsoft Corp. | 2,693 | 691,643 |
Mid-America Apartment Communities, Inc., REIT | 759 | 132,575 |
Moderna, Inc.(a) | 1,889 | 269,844 |
Mohawk Industries, Inc.(a) | 1,158 | 143,696 |
Molina Healthcare, Inc.(a) | 982 | 274,577 |
Molson Coors Beverage Co., Class B | 4,887 | 266,390 |
Mondelez International, Inc., Class A | 3,147 | 195,397 |
Monolithic Power Systems, Inc. | 538 | 206,614 |
Monster Beverage Corp.(a) | 2,929 | 271,518 |
Moody's Corp. | 201 | 54,666 |
Morgan Stanley | 3,298 | 250,846 |
Mosaic Co. | 1,594 | 75,285 |
Motorola Solutions, Inc. | 2,436 | 510,586 |
MSCI, Inc. | 139 | 57,289 |
Nasdaq, Inc. | 306 | 46,677 |
NetApp, Inc. | 3,819 | 249,152 |
Netflix, Inc.(a) | 1,237 | 216,314 |
Newell Brands, Inc. | 10,020 | 190,781 |
Newmont Corp. | 5,085 | 303,422 |
News Corp., Class A | 6,175 | 96,207 |
News Corp., Class B | 6,078 | 96,579 |
NextEra Energy, Inc. | 3,367 | 260,808 |
Nielsen Holdings PLC | 4,653 | 108,043 |
NIKE, Inc., Class B | 2,964 | 302,921 |
NiSource, Inc. | 11,328 | 334,063 |
Nordson Corp. | 175 | 35,427 |
Norfolk Southern Corp. | 374 | 85,006 |
Northern Trust Corp. | 1,122 | 108,251 |
Northrop Grumman Corp. | 277 | 132,564 |
NortonLifeLock, Inc. | 14,836 | 325,799 |
Norwegian Cruise Line Holdings Ltd.(a) | 6,475 | 72,002 |
NRG Energy, Inc. | 8,706 | 332,308 |
Nucor Corp. | 2,830 | 295,480 |
NVIDIA Corp. | 805 | 122,030 |
NVR, Inc.(a) | 57 | 228,236 |
NXP Semiconductors N.V. | 1,277 | 189,034 |
Occidental Petroleum Corp. | 997 | 58,703 |
Old Dominion Freight Line, Inc. | 345 | 88,417 |
Omnicom Group, Inc. | 1,671 | 106,292 |
ON Semiconductor Corp.(a) | 3,776 | 189,971 |
ONEOK, Inc. | 5,255 | 291,652 |
Oracle Corp. | 5,067 | 354,031 |
O'Reilly Automotive, Inc.(a) | 207 | 130,774 |
Organon & Co. | 6,785 | 228,994 |
Otis Worldwide Corp. | 952 | 67,278 |
PACCAR, Inc. | 1,996 | 164,351 |
Packaging Corp. of America | 421 | 57,888 |
Security Description | Shares | Value |
Paramount Global, Class B | 7,271 | $179,448 |
Parker-Hannifin Corp. | 264 | 64,957 |
Paychex, Inc. | 1,884 | 214,531 |
Paycom Software, Inc.(a) | 772 | 216,253 |
PayPal Holdings, Inc.(a) | 722 | 50,424 |
Penn National Gaming, Inc.(a) | 1,759 | 53,509 |
Pentair PLC | 4,002 | 183,172 |
PepsiCo, Inc. | 1,174 | 195,659 |
PerkinElmer, Inc. | 799 | 113,634 |
Pfizer, Inc. | 4,813 | 252,346 |
Philip Morris International, Inc. | 3,747 | 369,979 |
Phillips 66 | 4,807 | 394,126 |
Pinnacle West Capital Corp. | 1,156 | 84,527 |
Pioneer Natural Resources Co. | 239 | 53,316 |
PNC Financial Services Group, Inc. | 361 | 56,955 |
Pool Corp. | 332 | 116,608 |
PPG Industries, Inc. | 589 | 67,346 |
PPL Corp. | 3,005 | 81,526 |
Principal Financial Group, Inc. | 2,566 | 171,383 |
Procter & Gamble Co. | 3,596 | 517,069 |
Progressive Corp. | 1,498 | 174,172 |
Prologis, Inc., REIT | 481 | 56,590 |
Prudential Financial, Inc. | 1,734 | 165,909 |
PTC, Inc.(a) | 1,558 | 165,678 |
Public Service Enterprise Group, Inc. | 3,901 | 246,855 |
Public Storage, REIT | 415 | 129,758 |
PulteGroup, Inc. | 6,080 | 240,950 |
PVH Corp. | 5,187 | 295,140 |
Qorvo, Inc.(a) | 2,241 | 211,371 |
QUALCOMM, Inc. | 1,704 | 217,669 |
Quanta Services, Inc. | 3,030 | 379,780 |
Quest Diagnostics, Inc. | 1,296 | 172,342 |
Ralph Lauren Corp. | 3,410 | 305,706 |
Raymond James Financial, Inc. | 2,856 | 255,355 |
Raytheon Technologies Corp. | 1,780 | 171,076 |
Realty Income Corp., REIT | 1,030 | 70,308 |
Regency Centers Corp., REIT | 1,114 | 66,071 |
Regeneron Pharmaceuticals, Inc.(a) | 425 | 251,230 |
Regions Financial Corp. | 2,818 | 52,838 |
Republic Services, Inc. | 1,511 | 197,745 |
ResMed, Inc. | 613 | 128,503 |
Robert Half International, Inc. | 2,014 | 150,828 |
Rockwell Automation, Inc. | 174 | 34,680 |
Rollins, Inc. | 5,645 | 197,123 |
Roper Technologies, Inc. | 94 | 37,097 |
Ross Stores, Inc. | 6,613 | 464,431 |
Royal Caribbean Cruises Ltd.(a) | 1,859 | 64,898 |
S&P Global, Inc. | 176 | 59,323 |
Salesforce, Inc.(a) | 1,911 | 315,391 |
SBA Communications Corp., REIT | 175 | 56,009 |
Schlumberger N.V. | 7,206 | 257,687 |
Seagate Technology Holdings PLC | 3,170 | 226,465 |
Security Description | Shares | Value |
Sealed Air Corp. | 1,421 | $82,020 |
Sempra Energy | 550 | 82,649 |
ServiceNow, Inc.(a) | 483 | 229,676 |
Sherwin-Williams Co. | 275 | 61,575 |
Signature Bank | 1,016 | 182,077 |
Simon Property Group, Inc., REIT | 676 | 64,166 |
Skyworks Solutions, Inc. | 2,266 | 209,922 |
Snap-on, Inc. | 921 | 181,465 |
SolarEdge Technologies, Inc.(a) | 901 | 246,586 |
Southern Co. | 1,176 | 83,861 |
Southwest Airlines Co.(a) | 3,816 | 137,834 |
Stanley Black & Decker, Inc. | 1,737 | 182,142 |
Starbucks Corp. | 6,745 | 515,251 |
State Street Corp. | 1,736 | 107,024 |
STERIS PLC | 380 | 78,337 |
Stryker Corp. | 592 | 117,767 |
SVB Financial Group(a) | 455 | 179,720 |
Synchrony Financial | 10,805 | 298,434 |
Synopsys, Inc.(a) | 1,113 | 338,018 |
Sysco Corp. | 9,353 | 792,293 |
T Rowe Price Group, Inc. | 989 | 112,360 |
Take-Two Interactive Software, Inc.(a) | 2,658 | 325,685 |
Tapestry, Inc. | 10,412 | 317,774 |
Target Corp. | 1,132 | 159,872 |
TE Connectivity Ltd. | 2,070 | 234,220 |
Teledyne Technologies, Inc.(a) | 103 | 38,636 |
Teleflex, Inc. | 188 | 46,220 |
Teradyne, Inc. | 1,752 | 156,892 |
Tesla, Inc.(a) | 367 | 247,145 |
Texas Instruments, Inc. | 1,440 | 221,256 |
Textron, Inc. | 2,712 | 165,622 |
Thermo Fisher Scientific, Inc. | 208 | 113,002 |
TJX Companies, Inc. | 8,662 | 483,773 |
T-Mobile US, Inc.(a) | 1,954 | 262,891 |
Tractor Supply Co. | 654 | 126,778 |
Trane Technologies PLC | 534 | 69,351 |
TransDigm Group, Inc.(a) | 119 | 63,864 |
Travelers Companies, Inc. | 1,204 | 203,633 |
Trimble, Inc.(a) | 584 | 34,006 |
Truist Financial Corp. | 1,239 | 58,766 |
Twitter, Inc.(a) | 8,736 | 326,639 |
Tyler Technologies, Inc.(a) | 672 | 223,427 |
Tyson Foods, Inc., Class A | 6,074 | 522,728 |
UDR, Inc., REIT | 2,852 | 131,306 |
Ulta Beauty, Inc.(a) | 622 | 239,769 |
Union Pacific Corp. | 410 | 87,445 |
United Airlines Holdings, Inc.(a) | 3,724 | 131,904 |
United Parcel Service, Inc., Class B | 488 | 89,080 |
United Rentals, Inc.(a) | 455 | 110,524 |
UnitedHealth Group, Inc. | 561 | 288,146 |
Universal Health Services, Inc., Class B | 2,968 | 298,907 |
Security Description | Shares | Value | |
US Bancorp | 1,165 | $53,613 | |
Valero Energy Corp. | 3,641 | 386,965 | |
Ventas, Inc., REIT | 1,619 | 83,265 | |
VeriSign, Inc.(a) | 2,015 | 337,170 | |
Verisk Analytics, Inc. | 347 | 60,062 | |
Verizon Communications, Inc. | 5,023 | 254,917 | |
Vertex Pharmaceuticals, Inc.(a) | 945 | 266,292 | |
VF Corp. | 7,194 | 317,759 | |
Viatris, Inc. | 21,457 | 224,655 | |
VICI Properties, Inc. | 1,899 | 56,571 | |
Visa, Inc., Class A | 230 | 45,285 | |
Vornado Realty Trust, REIT | 3,629 | 103,753 | |
Vulcan Materials Co. | 1,089 | 154,747 | |
W R Berkley Corp. | 2,990 | 204,097 | |
Walgreens Boots Alliance, Inc. | 16,387 | 621,067 | |
Walmart, Inc. | 6,299 | 765,832 | |
Walt Disney Co.(a) | 2,051 | 193,614 | |
Warner Bros Discovery, Inc.(a) | 13,739 | 184,377 | |
Waste Management, Inc. | 1,265 | 193,520 | |
Waters Corp.(a) | 344 | 113,857 | |
WEC Energy Group, Inc. | 863 | 86,852 | |
Wells Fargo & Co. | 3,184 | 124,717 | |
Welltower, Inc., REIT | 1,036 | 85,315 | |
West Pharmaceutical Services, Inc. | 178 | 53,822 | |
Western Digital Corp.(a) | 4,726 | 211,867 | |
Westinghouse Air Brake Technologies Corp. | 766 | 62,873 | |
Westrock Co. | 1,420 | 56,573 | |
Weyerhaeuser Co., REIT | 4,753 | 157,419 | |
Whirlpool Corp. | 936 | 144,958 | |
Williams Companies, Inc. | 9,761 | 304,641 | |
Willis Towers Watson PLC | 190 | 37,504 | |
WW Grainger, Inc. | 256 | 116,334 | |
Wynn Resorts Ltd.(a) | 913 | 52,023 | |
Xcel Energy, Inc. | 1,201 | 84,983 | |
Xylem, Inc. | 2,391 | 186,928 | |
Yum! Brands, Inc. | 4,465 | 506,822 | |
Zebra Technologies Corp., Class A(a) | 423 | 124,341 | |
Zimmer Biomet Holdings, Inc. | 1,127 | 118,403 | |
Zions Bancorp NA | 3,874 | 197,187 | |
Zoetis, Inc. | 1,491 | 256,288 | |
TOTAL INVESTMENTS—99.7% (Cost $97,778,227) | 93,965,922 | ||
OTHER ASSETS IN EXCESS OF LIABILITIES—0.3% | 249,546 | ||
NET ASSETS—100.0% | $94,215,468 |
(a) | Non-income producing security. |
PLC=Public Limited Company |
REIT=Real Estate Investment Trust |
INDUSTRY | PERCENTAGE OF NET ASSETS |
Marketed Pharmaceuticals | 3.7% |
Processed Foods | 3.3 |
Business Software for Specific Uses | 3.3 |
Food Distributors | 3.3 |
Restaurants | 3.3 |
Electric Competitive | 3.2 |
Downstream | 2.6 |
Rental | 2.2 |
Consumer Insurance | 2.1 |
Electric Regulated | 2.1 |
Commercial Insurance | 2.1 |
End User Hardware | 2.1 |
Telecommunication Networks | 2.1 |
Content Providers | 2.1 |
Commercial Hardware | 2.0 |
Operators and Developers | 2.0 |
Diversified Household and Personal Products | 1.7 |
Upstream Energy | 1.7 |
Information and Electrical Components | 1.7 |
Specialty Services | 1.6 |
Non Real Estate Banking | 1.6 |
Primary Foods | 1.6 |
Capital Markets | 1.6 |
Distribution Services | 1.6 |
Alcohol and Tobacco | 1.6 |
Home Office and Consumer Equipment Retail | 1.5 |
Home Office and Consumer Equipment Manufacture | 1.5 |
Transportation Services | 1.5 |
Healthcare Insurance | 1.5 |
Auto Products | 1.5 |
Mechanical Components | 1.5 |
Investment Services | 1.4 |
Internet Services | 1.4 |
Transaction Services | 1.4 |
Semiconductor Services and Equipment | 1.4 |
Management and IT Services | 1.4 |
Drugstores | 1.4 |
Search and Social Networks | 1.4 |
Healthcare Providers and Facilities | 1.3 |
Digital Integrated Circuits | 1.3 |
Online Distribution Networks | 1.3 |
Analog and Mixed Signal Integrated Circuits | 1.3 |
INDUSTRY | PERCENTAGE OF NET ASSETS |
Transport Aerospace and Defense Equipment | 1.2% |
Personal Products | 1.1 |
Healthcare Products Distribution | 1.1 |
Gas and Water Utilities | 1.1 |
Medical Research Services and Equipment | 1.1 |
Hospital Equipment | 1.1 |
Medical Devices | 1.0 |
Industrial Conglomerates | 1.0 |
Other Natural Resources | 1.0 |
Apparel Retailers | 1.0 |
Accessories and Footwear | 1.0 |
Chemicals | 1.0 |
Midstream | 1.0 |
Branded Apparel | 0.9 |
Metals | 0.9 |
Production Equipment | 0.8 |
Other Pharmaceuticals | 0.8 |
Operating Systems and Middleware | 0.7 |
Consumer Paper Products | 0.6 |
Brokers and Dealers | 0.5 |
Real Estate Banking | 0.4 |
Business Software for Specific Industries | 0.2 |
Other Assets in Excess of Liabilities | 0.3 |
Total | 100.0% |
Security Description | Shares | Value |
COMMON STOCK—99.9% | ||
Acadia Healthcare Co., Inc.(a) | 834 | $56,403 |
ACI Worldwide, Inc.(a) | 703 | 18,201 |
Acuity Brands, Inc. | 79 | 12,169 |
Adient PLC(a) | 250 | 7,407 |
AECOM | 208 | 13,566 |
Affiliated Managers Group, Inc. | 301 | 35,097 |
AGCO Corp. | 244 | 24,083 |
Alcoa Corp. | 308 | 14,039 |
Alleghany Corp.(a) | 24 | 19,994 |
ALLETE, Inc. | 349 | 20,514 |
Amedisys, Inc.(a) | 118 | 12,404 |
American Campus Communities, Inc. | 353 | 22,758 |
American Eagle Outfitters, Inc. | 1,910 | 21,354 |
American Financial Group, Inc. | 118 | 16,380 |
Amkor Technology, Inc. | 2,688 | 45,562 |
Antero Midstream Corp. | 1,587 | 14,362 |
Apartment Income REIT Corp. | 549 | 22,838 |
AptarGroup, Inc. | 78 | 8,050 |
Arrow Electronics, Inc.(a) | 81 | 9,079 |
Arrowhead Pharmaceuticals, Inc.(a) | 2,137 | 75,244 |
ASGN, Inc.(a) | 212 | 19,133 |
Ashland Global Holdings, Inc. | 60 | 6,183 |
Aspen Technology, Inc.(a) | 192 | 35,267 |
Associated Banc-Corp | 1,188 | 21,693 |
AutoNation, Inc.(a) | 287 | 32,075 |
Avient Corp. | 304 | 12,184 |
Avis Budget Group, Inc.(a) | 203 | 29,857 |
Avnet, Inc. | 205 | 8,790 |
Axon Enterprise, Inc.(a) | 295 | 27,485 |
Azenta, Inc. | 1,047 | 75,489 |
Bank of Hawaii Corp. | 302 | 22,469 |
Bank OZK | 156 | 5,855 |
Belden, Inc. | 217 | 11,560 |
BellRing Brands, Inc.(a) | 1,497 | 37,260 |
BJ's Wholesale Club Holdings, Inc.(a) | 466 | 29,041 |
Black Hills Corp. | 288 | 20,958 |
Blackbaud, Inc.(a) | 634 | 36,816 |
Boston Beer Co., Inc., Class A(a) | 122 | 36,962 |
Boyd Gaming Corp. | 340 | 16,915 |
Bread Financial Holdings Inc. | 405 | 15,009 |
Brighthouse Financial, Inc.(a) | 862 | 35,359 |
Brink's Co. | 364 | 22,098 |
Brixmor Property Group, Inc. | 218 | 4,406 |
Bruker Corp. | 307 | 19,267 |
Brunswick Corp. | 313 | 20,464 |
Builders FirstSource, Inc.(a) | 239 | 12,834 |
Cable One, Inc. | 58 | 74,781 |
Cabot Corp. | 86 | 5,486 |
CACI International, Inc., Class A(a) | 85 | 23,951 |
Cadence Bank | 240 | 5,635 |
Calix, Inc.(a) | 1,421 | 48,513 |
Security Description | Shares | Value |
Callaway Golf Co.(a) | 649 | $13,240 |
Capri Holdings Ltd.(a) | 472 | 19,357 |
Carlisle Cos, Inc. | 28 | 6,681 |
Carter's, Inc. | 315 | 22,201 |
Casey's General Stores, Inc. | 150 | 27,747 |
Cathay General Bancorp | 153 | 5,990 |
CDK Global, Inc. | 698 | 38,229 |
ChampionX Corp. | 1,172 | 23,264 |
Chart Industries, Inc.(a) | 63 | 10,545 |
Chemed Corp. | 63 | 29,572 |
Chemours Co. | 153 | 4,899 |
Choice Hotels International, Inc. | 80 | 8,930 |
Churchill Downs, Inc. | 97 | 18,578 |
Ciena Corp.(a) | 1,121 | 51,230 |
Cirrus Logic, Inc.(a) | 422 | 30,612 |
Clean Harbors, Inc.(a) | 233 | 20,427 |
Cleveland-Cliffs, Inc.(a) | 829 | 12,742 |
CMC Materials, Inc. | 33 | 5,758 |
CNO Financial Group, Inc. | 2,005 | 36,270 |
CNX Resources Corp.(a) | 610 | 10,041 |
Cognex Corp. | 632 | 26,873 |
Coherent, Inc.(a) | 284 | 75,606 |
Columbia Sportswear Co. | 301 | 21,546 |
Commerce Bancshares, Inc. | 195 | 12,802 |
Commercial Metals Co. | 421 | 13,935 |
CommVault Systems, Inc.(a) | 616 | 38,746 |
Concentrix Corp. | 152 | 20,617 |
Corporate Office Properties Trust | 156 | 4,086 |
Coty, Inc., Class A(a) | 9,698 | 77,681 |
Cousins Properties, Inc. | 131 | 3,829 |
Cracker Barrel Old Country Store, Inc. | 405 | 33,813 |
Crane Holdings Co. | 124 | 10,857 |
Crocs, Inc.(a) | 423 | 20,587 |
Cullen/Frost Bankers, Inc. | 107 | 12,460 |
Curtiss-Wright Corp. | 85 | 11,225 |
Dana, Inc. | 518 | 7,288 |
Darling Ingredients, Inc.(a) | 375 | 22,425 |
Deckers Outdoor Corp.(a) | 86 | 21,960 |
Dick's Sporting Goods, Inc. | 553 | 41,680 |
Donaldson Co., Inc. | 227 | 10,928 |
Douglas Emmett, Inc. | 168 | 3,760 |
DTE Midstream, LLC(a) | 303 | 14,853 |
Dycom Industries, Inc.(a) | 153 | 14,235 |
Eagle Materials, Inc. | 151 | 16,601 |
East West Bancorp, Inc. | 92 | 5,962 |
EastGroup Properties, Inc. | 60 | 9,260 |
EMCOR Group, Inc. | 137 | 14,106 |
Encompass Health Corp. | 244 | 13,676 |
Energizer Holdings, Inc. | 2,339 | 66,311 |
EnerSys | 257 | 15,153 |
Enovis Corp.(a) | 345 | 18,975 |
Envestnet, Inc.(a) | 635 | 33,509 |
Security Description | Shares | Value |
Envista Holdings Corp.(a) | 539 | $20,773 |
EPR Properties | 97 | 4,552 |
EQT Corp. | 296 | 10,182 |
Equitrans Midstream Corp. | 2,162 | 13,750 |
Esab Corp. | 499 | 21,831 |
Essent Group Ltd. | 556 | 21,628 |
Essential Utilities, Inc. | 466 | 21,366 |
Euronet Worldwide, Inc.(a) | 296 | 29,775 |
Evercore, Inc., Class A | 189 | 17,692 |
Exelixis, Inc.(a) | 3,585 | 74,640 |
Fair Isaac Corp.(a) | 93 | 37,284 |
Federated Hermes, Inc. | 1,173 | 37,290 |
First American Financial Corp. | 587 | 31,064 |
First Financial Bankshares, Inc. | 153 | 6,008 |
First Horizon Corp. | 572 | 12,504 |
First Industrial Realty Trust, Inc. | 191 | 9,069 |
First Solar, Inc.(a) | 177 | 12,059 |
FirstCash Holdings, Inc. | 268 | 18,629 |
Five Below, Inc.(a) | 337 | 38,226 |
Flowers Foods, Inc. | 1,515 | 39,875 |
Flowserve Corp. | 373 | 10,679 |
Fluor Corp.(a) | 1,019 | 24,802 |
FNB Corp. | 538 | 5,843 |
Foot Locker, Inc. | 766 | 19,341 |
Fox Factory Holding Corp.(a) | 103 | 8,296 |
FTI Consulting, Inc.(a) | 117 | 21,159 |
Fulton Financial Corp. | 411 | 5,939 |
GameStop Corp., Class A(a) | 296 | 36,201 |
Gap, Inc. | 2,408 | 19,842 |
GATX Corp. | 143 | 13,465 |
Genpact Ltd. | 530 | 22,451 |
Gentex Corp. | 718 | 20,082 |
Glacier Bancorp, Inc. | 130 | 6,165 |
Globus Medical, Inc., Class A(a) | 367 | 20,603 |
Goodyear Tire & Rubber Co.(a) | 700 | 7,497 |
Graco, Inc. | 189 | 11,228 |
Graham Holdings Co., Class B | 45 | 25,508 |
Grand Canyon Education, Inc.(a) | 321 | 30,235 |
Greif, Inc., Class A | 193 | 12,039 |
Grocery Outlet Holding Corp.(a) | 737 | 31,418 |
GXO Logistics, Inc.(a) | 278 | 12,029 |
H&R Block, Inc. | 1,070 | 37,792 |
Haemonetics Corp.(a) | 198 | 12,906 |
Hain Celestial Group, Inc.(a) | 1,533 | 36,393 |
Halozyme Therapeutics, Inc.(a) | 1,487 | 65,428 |
Hancock Whitney Corp. | 279 | 12,368 |
Hanesbrands, Inc. | 2,095 | 21,558 |
Hanover Insurance Group, Inc. | 116 | 16,965 |
Harley-Davidson, Inc. | 657 | 20,801 |
Hawaiian Electric Industries, Inc. | 502 | 20,532 |
Healthcare Realty Trust, Inc. | 2,164 | 58,861 |
HealthEquity, Inc.(a) | 510 | 31,309 |
Security Description | Shares | Value |
Helen of Troy Ltd.(a) | 410 | $66,588 |
Hexcel Corp. | 115 | 6,016 |
HF Sinclair Corp. | 506 | 22,851 |
Highwoods Properties, Inc. | 113 | 3,863 |
Home BancShares, Inc. | 285 | 5,919 |
Hubbell, Inc. | 87 | 15,536 |
Hudson Pacific Properties, Inc. | 234 | 3,473 |
Huntington Bancshares, Inc. | 1 | 12 |
IAA, Inc.(a) | 911 | 29,853 |
ICU Medical, Inc.(a) | 73 | 12,000 |
IDACORP, Inc. | 203 | 21,502 |
II-VI, Inc.(a) | 208 | 10,598 |
Inari Medical, Inc.(a) | 149 | 10,130 |
Independence Realty Trust, Inc., REIT | 1,025 | 21,248 |
Ingevity Corp.(a) | 88 | 5,556 |
Ingredion, Inc. | 318 | 28,035 |
Insperity, Inc. | 340 | 33,942 |
Integra LifeSciences Holdings Corp.(a) | 158 | 8,537 |
Interactive Brokers Group, Inc., Class A | 672 | 36,967 |
International Bancshares Corp. | 157 | 6,293 |
IPG Photonics Corp.(a) | 236 | 22,215 |
Iridium Communications, Inc.(a) | 2,095 | 78,688 |
ITT, Inc. | 163 | 10,960 |
Jabil, Inc. | 855 | 43,785 |
Janus Henderson Group PLC | 1,507 | 35,430 |
Jazz Pharmaceuticals PLC(a) | 440 | 68,644 |
JBG SMITH Properties | 169 | 3,995 |
Jefferies Financial Group, Inc. | 571 | 15,771 |
JetBlue Airways Corp.(a) | 3,578 | 29,948 |
John Wiley & Sons, Inc., Class A | 554 | 26,459 |
Jones Lang LaSalle, Inc.(a) | 109 | 19,060 |
KB Home | 1,218 | 34,664 |
KBR, Inc. | 286 | 13,840 |
Kemper Corp. | 771 | 36,931 |
Kennametal, Inc. | 874 | 20,303 |
Kilroy Realty Corp. | 78 | 4,082 |
Kinsale Capital Group, Inc. | 73 | 16,764 |
Kirby Corp.(a) | 249 | 15,149 |
Kite Realty Group Trust, REIT | 250 | 4,322 |
Knight-Swift Transportation Holdings, Inc. | 309 | 14,304 |
Kohl's Corp. | 496 | 17,702 |
Kyndryl Holdings, Inc.(a) | 2,318 | 22,670 |
Lamar Advertising Co., Class A | 51 | 4,486 |
Lancaster Colony Corp. | 314 | 40,437 |
Landstar System, Inc. | 100 | 14,542 |
Lattice Semiconductor Corp.(a) | 670 | 32,495 |
Lear Corp. | 64 | 8,057 |
Leggett & Platt, Inc. | 385 | 13,313 |
Lennox International, Inc. | 69 | 14,255 |
LHC Group, Inc.(a) | 170 | 26,476 |
Life Storage, Inc. | 211 | 23,560 |
Light & Wonder, Inc., Class A(a) | 1,509 | 70,908 |
Security Description | Shares | Value |
Lincoln Electric Holdings, Inc. | 168 | $20,724 |
Lithia Motors, Inc. | 118 | 32,428 |
Littelfuse, Inc. | 62 | 15,750 |
LivaNova PLC(a) | 329 | 20,553 |
Louisiana-Pacific Corp. | 198 | 10,377 |
Lumentum Holdings, Inc.(a) | 613 | 48,684 |
Macerich Co. | 471 | 4,102 |
Macy's, Inc. | 990 | 18,137 |
Manhattan Associates, Inc.(a) | 161 | 18,451 |
ManpowerGroup, Inc. | 232 | 17,727 |
Marriott Vacations Worldwide Corp. | 93 | 10,807 |
Masimo Corp.(a) | 135 | 17,640 |
MasTec, Inc.(a) | 171 | 12,254 |
Matador Resources Co. | 219 | 10,203 |
Mattel, Inc.(a) | 607 | 13,554 |
Maximus, Inc. | 540 | 33,755 |
MDU Resources Group, Inc. | 700 | 18,893 |
Medical Properties Trust, Inc. | 3,559 | 54,346 |
Medpace Holdings, Inc.(a) | 362 | 54,181 |
Mercury General Corp. | 803 | 35,573 |
Mercury Systems, Inc.(a) | 196 | 12,609 |
MGIC Investment Corp. | 1,754 | 22,100 |
Middleby Corp.(a) | 159 | 19,932 |
MillerKnoll, Inc. | 484 | 12,715 |
Minerals Technologies, Inc. | 100 | 6,134 |
MKS Instruments, Inc. | 674 | 69,173 |
MSA Safety, Inc. | 230 | 27,846 |
MSC Industrial Direct Co., Inc., Class A | 118 | 8,863 |
Murphy Oil Corp. | 320 | 9,661 |
Murphy USA, Inc. | 120 | 27,944 |
National Fuel Gas Co. | 295 | 19,485 |
National Instruments Corp. | 1,115 | 34,821 |
National Retail Properties, Inc. | 111 | 4,773 |
National Storage Affiliates Trust | 471 | 23,583 |
Navient Corp. | 1,353 | 18,928 |
NCR Corp.(a) | 2,384 | 74,166 |
Neogen Corp.(a) | 791 | 19,055 |
Neurocrine Biosciences, Inc.(a) | 689 | 67,164 |
New Jersey Resources Corp. | 462 | 20,573 |
New York Community Bancorp, Inc. | 650 | 5,934 |
New York Times Co., Class A | 867 | 24,189 |
NewMarket Corp. | 20 | 6,019 |
Nordstrom, Inc. | 849 | 17,939 |
NorthWestern Corp. | 355 | 20,920 |
NOV, Inc. | 1,425 | 24,097 |
Nu Skin Enterprises, Inc., Class A | 1,505 | 65,166 |
NuVasive, Inc.(a) | 413 | 20,303 |
nVent Electric PLC | 493 | 15,446 |
OGE Energy Corp. | 544 | 20,977 |
Old National Bancorp | 397 | 5,872 |
Old Republic International Corp. | 720 | 16,099 |
Olin Corp. | 231 | 10,691 |
Security Description | Shares | Value |
Ollie's Bargain Outlet Holdings, Inc.(a) | 530 | $31,137 |
Omega Healthcare Investors, Inc. | 1,896 | 53,448 |
ONE Gas, Inc. | 249 | 20,216 |
Option Care Health, Inc.(a) | 520 | 14,451 |
Oshkosh Corp. | 314 | 25,792 |
Owens Corning | 92 | 6,837 |
PacWest Bancorp | 210 | 5,599 |
Papa John's International, Inc. | 684 | 57,128 |
Park Hotels & Resorts, Inc. | 565 | 7,667 |
Patterson Cos, Inc. | 320 | 9,696 |
Paylocity Holding Corp.(a) | 109 | 19,012 |
PDC Energy, Inc. | 170 | 10,474 |
Pebblebrook Hotel Trust | 450 | 7,456 |
Penumbra, Inc.(a) | 74 | 9,214 |
Performance Food Group Co.(a) | 697 | 32,048 |
Perrigo Co. PLC | 1,684 | 68,320 |
Physicians Realty Trust | 233 | 4,066 |
Pilgrim's Pride Corp.(a) | 938 | 29,294 |
Pinnacle Financial Partners, Inc. | 79 | 5,712 |
PNM Resources, Inc. | 465 | 22,218 |
Polaris, Inc. | 213 | 21,147 |
Portland General Electric Co. | 385 | 18,607 |
Post Holdings, Inc.(a) | 480 | 39,528 |
PotlatchDeltic Corp. | 262 | 11,578 |
Power Integrations, Inc. | 418 | 31,354 |
Primerica, Inc. | 317 | 37,942 |
Progyny, Inc.(a) | 505 | 14,670 |
Prosperity Bancshares, Inc. | 89 | 6,076 |
PS Business Parks, Inc. | 51 | 9,545 |
Qualys, Inc.(a) | 306 | 38,599 |
QuidelOrtho Corp.(a) | 193 | 18,756 |
R1 RCM, Inc.(a) | 914 | 19,157 |
Range Resources Corp.(a) | 413 | 10,222 |
Rayonier, Inc. | 328 | 12,261 |
Regal Rexnord Corp. | 90 | 10,217 |
Reinsurance Group of America, Inc. | 189 | 22,168 |
Reliance Steel & Aluminum Co. | 88 | 14,948 |
RenaissanceRe Holdings Ltd. | 151 | 23,612 |
Repligen Corp.(a) | 341 | 55,378 |
Rexford Industrial Realty, Inc. | 157 | 9,042 |
RH(a) | 50 | 10,613 |
RLI Corp. | 142 | 16,556 |
Royal Gold, Inc. | 143 | 15,270 |
RPM International, Inc. | 174 | 13,697 |
Ryder System, Inc. | 184 | 13,075 |
Sabra Health Care REIT, Inc. | 3,988 | 55,712 |
Sabre Corp.(a) | 11,059 | 64,474 |
Saia, Inc.(a) | 74 | 13,912 |
Sailpoint Technologies Holdings, Inc.(a) | 615 | 38,548 |
Sanderson Farms, Inc. | 141 | 30,390 |
Science Applications International Corp. | 254 | 23,647 |
Scotts Miracle-Gro Co. | 760 | 60,032 |
Security Description | Shares | Value |
SEI Investments Co. | 689 | $37,220 |
Selective Insurance Group, Inc. | 213 | 18,518 |
Semtech Corp.(a) | 551 | 30,288 |
Sensient Technologies Corp. | 77 | 6,203 |
Service Corp. International/US | 414 | 28,616 |
Shockwave Medical, Inc.(a) | 66 | 12,617 |
Silgan Holdings, Inc. | 290 | 11,991 |
Silicon Laboratories, Inc.(a) | 231 | 32,391 |
Simpson Manufacturing Co., Inc. | 77 | 7,747 |
SiTime Corp.(a) | 166 | 27,063 |
Six Flags Entertainment Corp.(a) | 472 | 10,242 |
Skechers USA, Inc., Class A(a) | 578 | 20,565 |
SL Green Realty Corp. | 81 | 3,738 |
SLM Corp. | 1,038 | 16,546 |
Sonoco Products Co. | 222 | 12,663 |
Sotera Health Co.(a) | 952 | 18,650 |
Southwest Gas Holdings, Inc. | 230 | 20,028 |
Spire, Inc. | 275 | 20,452 |
Spirit Realty Capital, Inc. | 121 | 4,571 |
Sprouts Farmers Market, Inc.(a) | 1,133 | 28,688 |
STAAR Surgical Co.(a) | 324 | 22,981 |
Steel Dynamics, Inc. | 218 | 14,421 |
Stericycle, Inc.(a) | 458 | 20,083 |
Stifel Financial Corp. | 636 | 35,629 |
STORE Capital Corp. | 178 | 4,642 |
SunPower Corp.(a) | 1,185 | 18,735 |
Sunrun, Inc.(a) | 827 | 19,319 |
Synaptics, Inc.(a) | 244 | 28,804 |
Syneos Health, Inc.(a) | 744 | 53,330 |
Synovus Financial Corp. | 158 | 5,696 |
Tandem Diabetes Care, Inc.(a) | 364 | 21,545 |
Targa Resources Corp. | 236 | 14,082 |
Taylor Morrison Home Corp.(a) | 1,438 | 33,592 |
TD SYNNEX Corp. | 93 | 8,472 |
TEGNA, Inc. | 1,817 | 38,102 |
Tempur Sealy International, Inc. | 645 | 13,784 |
Tenet Healthcare Corp.(a) | 900 | 47,304 |
Teradata Corp.(a) | 1,020 | 37,750 |
Terex Corp. | 838 | 22,936 |
Tetra Tech, Inc. | 108 | 14,747 |
Texas Capital Bancshares, Inc.(a) | 447 | 23,530 |
Texas Roadhouse, Inc. | 488 | 35,722 |
Thor Industries, Inc. | 297 | 22,195 |
Timken Co. | 136 | 7,215 |
Toll Brothers, Inc. | 803 | 35,814 |
TopBuild Corp.(a) | 74 | 12,370 |
Toro Co. | 352 | 26,678 |
Travel + Leisure Co. | 272 | 10,559 |
Trex Co., Inc.(a) | 241 | 13,115 |
TripAdvisor, Inc.(a) | 3,432 | 61,090 |
UGI Corp. | 504 | 19,459 |
Security Description | Shares | Value | |
UMB Financial Corp. | 147 | $12,657 | |
Umpqua Holdings Corp. | 362 | 6,071 | |
Under Armour, Inc., Class A(a) | 1,121 | 9,338 | |
Under Armour, Inc., Class C(a) | 1,215 | 9,210 | |
United Bankshares, Inc. | 172 | 6,032 | |
United States Steel Corp. | 736 | 13,182 | |
United Therapeutics Corp.(a) | 295 | 69,514 | |
Univar Solutions, Inc.(a) | 309 | 7,685 | |
Universal Display Corp. | 104 | 10,519 | |
Unum Group | 1,081 | 36,776 | |
Valley National Bancorp | 538 | 5,601 | |
Valmont Industries, Inc. | 32 | 7,188 | |
Valvoline, Inc. | 445 | 12,829 | |
Viasat, Inc.(a) | 2,152 | 65,916 | |
Vicor Corp.(a) | 270 | 14,777 | |
Victoria's Secret & Co.(a) | 640 | 17,901 | |
Vishay Intertechnology, Inc. | 630 | 11,227 | |
Visteon Corp.(a) | 198 | 20,509 | |
Vontier Corp. | 1,145 | 26,324 | |
Voya Financial, Inc. | 609 | 36,254 | |
Washington Federal, Inc. | 728 | 21,855 | |
Watsco, Inc. | 36 | 8,598 | |
Watts Water Technologies, Inc., Class A | 87 | 10,687 | |
Webster Financial Corp. | 491 | 20,696 | |
Wendy's Co. | 3,134 | 59,170 | |
Werner Enterprises, Inc. | 364 | 14,029 | |
Western Union Co. | 1,898 | 31,260 | |
WEX, Inc.(a) | 190 | 29,556 | |
Williams-Sonoma, Inc. | 236 | 26,184 | |
Wingstop, Inc. | 487 | 36,413 | |
Wintrust Financial Corp. | 154 | 12,343 | |
Wolfspeed, Inc.(a) | 171 | 10,850 | |
Woodward, Inc. | 120 | 11,099 | |
World Wrestling Entertainment, Inc., Class A | 594 | 37,119 | |
Worthington Industries, Inc. | 184 | 8,114 | |
Wyndham Hotels & Resorts, Inc. | 130 | 8,544 | |
Xerox Holdings Corp. | 2,835 | 42,100 | |
XPO Logistics, Inc.(a) | 288 | 13,870 | |
YETI Holdings, Inc.(a) | 317 | 13,717 | |
Ziff Davis, Inc.(a) | 1,040 | 77,511 | |
TOTAL INVESTMENTS—99.9% (Cost $9,416,528) | 9,133,580 | ||
OTHER ASSETS IN EXCESS OF LIABILITIES—0.1% | 12,457 | ||
NET ASSETS—100.0% | $9,146,037 |
(a) | Non-income producing security. |
LLC=Limited Liability Corporation |
PLC=Public Limited Company |
REIT=Real Estate Investment Trust |
INDUSTRY | PERCENTAGE OF NET ASSETS |
Healthcare Providers and Facilities | 4.6% |
Marketed Pharmaceuticals | 3.8 |
Commercial Hardware | 3.2 |
Production Equipment | 3.1 |
Business Software for Specific Uses | 3.0 |
Semiconductor Services and Equipment | 2.9 |
Transaction Services | 2.6 |
Information and Electrical Components | 2.6 |
Commercial Insurance | 2.5 |
Real Estate Banking | 2.4 |
Restaurants | 2.4 |
Rental | 2.4 |
Investment Services | 2.4 |
Consumer Insurance | 2.4 |
Content Providers | 2.4 |
Management and IT Services | 2.3 |
Operators and Developers | 2.2 |
Home Office and Consumer Equipment Manufacture | 2.2 |
Specialty Services | 1.8 |
Auto Products | 1.8 |
Medical Research Services and Equipment | 1.8 |
Gas and Water Utilities | 1.8 |
Distribution Services | 1.7 |
Processed Foods | 1.7 |
Transportation Services | 1.7 |
Telecommunication Networks | 1.7 |
Analog and Mixed Signal Integrated Circuits | 1.7 |
Mechanical Components | 1.6 |
Home Office and Consumer Equipment Retail | 1.6 |
Business Software for Specific Industries | 1.6 |
Medical Devices | 1.6 |
Non Real Estate Banking | 1.6 |
Personal Products | 1.6 |
Hospital Equipment | 1.5 |
Upstream Energy | 1.4 |
Household Products | 1.4 |
Electric Regulated | 1.4 |
Branded Apparel | 1.4 |
Food Distributors | 1.3 |
Primary Foods | 1.2 |
Other Natural Resources | 1.2 |
Chemicals | 1.1 |
Accessories and Footwear | 1.1 |
INDUSTRY | PERCENTAGE OF NET ASSETS |
Metals | 1.1% |
Downstream | 0.9 |
Internet Services | 0.8 |
Clinical Stage Pharmaceuticals | 0.8 |
Apparel Retailers | 0.8 |
Brokers and Dealers | 0.8 |
Midstream | 0.8 |
Other Pharmaceuticals | 0.7 |
Online Distribution Networks | 0.7 |
Digital Integrated Circuits | 0.7 |
Search and Social Networks | 0.7 |
Electric Competitive | 0.6 |
Contract Electronics Services | 0.5 |
End User Hardware | 0.5 |
Vitamins and Nutritional Supplements | 0.4 |
Alcohol and Tobacco | 0.4 |
Consumer Services | 0.3 |
Transport Aerospace and Defense Equipment | 0.3 |
Healthcare Insurance | 0.2 |
Industrial Conglomerates | 0.1 |
Healthcare Products Distribution | 0.1 |
Capital Markets | 0.0 |
Other Assets in Excess of Liabilities | 0.1 |
Total | 100.0% |
Security Description | Shares | Value |
COMMON STOCK—99.8% | ||
3D Systems Corp.(a) | 3,137 | $30,429 |
8x8, Inc.(a) | 10,951 | 56,398 |
A10 Networks, Inc. | 4,871 | 70,045 |
AAON, Inc. | 257 | 14,073 |
AAR Corp.(a) | 386 | 16,150 |
Aaron's Co., Inc. | 1,970 | 28,663 |
Abercrombie & Fitch Co., Class A(a) | 930 | 15,736 |
ABM Industries, Inc. | 843 | 36,603 |
Academy Sports & Outdoors, Inc. | 646 | 22,959 |
Acadia Realty Trust, REIT | 607 | 9,481 |
Addus HomeCare Corp.(a) | 259 | 21,570 |
Adtalem Global Education, Inc.(a) | 832 | 29,927 |
ADTRAN, Inc. | 2,896 | 50,767 |
Advanced Energy Industries, Inc. | 685 | 49,991 |
AdvanSix, Inc. | 427 | 14,279 |
Aerojet Rocketdyne Holdings, Inc.(a) | 332 | 13,479 |
AeroVironment, Inc.(a) | 468 | 38,470 |
Agilysys, Inc.(a) | 1,057 | 49,964 |
Agree Realty Corp., REIT | 157 | 11,324 |
Alamo Group, Inc. | 186 | 21,656 |
Alarm.com Holdings, Inc.(a) | 1,156 | 71,510 |
Albany International Corp., Class A | 218 | 17,176 |
Alexander & Baldwin, Inc. | 564 | 10,124 |
Allegheny Technologies, Inc.(a) | 592 | 13,444 |
Allegiance Bancshares, Inc. | 77 | 2,908 |
Allegiant Travel Co.(a) | 527 | 59,598 |
Allscripts Healthcare Solutions, Inc.(a) | 2,116 | 31,380 |
Alpha & Omega Semiconductor Ltd.(a) | 2,493 | 83,117 |
Ambac Financial Group, Inc.(a) | 4,708 | 53,436 |
AMC Networks, Inc., Class A(a) | 1,604 | 46,708 |
American Assets Trust, Inc., REIT | 329 | 9,771 |
American Axle & Manufacturing Holdings, Inc.(a) | 5,969 | 44,947 |
American Equity Investment Life Holding Co. | 1,362 | 49,808 |
American Public Education, Inc.(a) | 1,929 | 31,173 |
American States Water Co. | 1,006 | 81,999 |
American Vanguard Corp. | 192 | 4,291 |
American Woodmark Corp.(a) | 418 | 18,814 |
America's Car-Mart, Inc.(a) | 298 | 29,979 |
Ameris Bancorp | 73 | 2,933 |
AMERISAFE, Inc. | 844 | 43,896 |
AMN Healthcare Services, Inc.(a) | 101 | 11,081 |
Amphastar Pharmaceuticals, Inc.(a) | 1,351 | 47,001 |
Andersons, Inc. | 814 | 26,854 |
AngioDynamics, Inc.(a) | 560 | 10,836 |
ANI Pharmaceuticals, Inc.(a) | 1,471 | 43,645 |
Anika Therapeutics, Inc.(a) | 2,530 | 56,470 |
Anywhere Real Estate, Inc.(a) | 1,614 | 15,866 |
Apogee Enterprises, Inc. | 320 | 12,550 |
Apollo Commercial Real Estate Finance, Inc., REIT | 257 | 2,683 |
Security Description | Shares | Value |
Apollo Medical Holdings, Inc.(a) | 1,508 | $58,194 |
Applied Industrial Technologies, Inc. | 177 | 17,022 |
ArcBest Corp. | 267 | 18,789 |
Archrock, Inc. | 1,470 | 12,157 |
Arconic Corp.(a) | 524 | 14,698 |
Arcosa, Inc. | 253 | 11,747 |
Arcus Biosciences, Inc.(a) | 897 | 22,730 |
Arlo Technologies, Inc.(a) | 2,662 | 16,691 |
Armada Hoffler Properties, Inc., REIT | 747 | 9,591 |
ARMOUR Residential REIT, Inc. | 1,183 | 8,328 |
Artivion, Inc.(a) | 606 | 11,441 |
Asbury Automotive Group, Inc.(a) | 167 | 28,280 |
Assured Guaranty Ltd. | 917 | 51,159 |
Astec Industries, Inc. | 463 | 18,881 |
Atlas Air Worldwide Holdings, Inc.(a) | 303 | 18,698 |
ATN International, Inc. | 1,621 | 76,041 |
Avanos Medical, Inc.(a) | 395 | 10,799 |
Avid Bioservices, Inc.(a) | 3,201 | 48,847 |
Avista Corp. | 1,855 | 80,711 |
Axcelis Technologies, Inc.(a) | 231 | 12,668 |
Axos Financial, Inc.(a) | 475 | 17,029 |
AZZ, Inc. | 349 | 14,246 |
B Riley Financial, Inc. | 355 | 14,999 |
B&G Foods, Inc. | 795 | 18,905 |
Badger Meter, Inc. | 232 | 18,766 |
Balchem Corp. | 97 | 12,585 |
Banc of California, Inc. | 174 | 3,066 |
BancFirst Corp. | 36 | 3,446 |
Bancorp, Inc.(a) | 1,624 | 31,700 |
BankUnited, Inc. | 79 | 2,810 |
Banner Corp. | 54 | 3,035 |
Barnes Group, Inc. | 254 | 7,910 |
Bed Bath & Beyond, Inc.(a) | 3,312 | 16,461 |
Benchmark Electronics, Inc. | 1,855 | 41,849 |
Berkshire Hills Bancorp, Inc. | 122 | 3,022 |
Big Lots, Inc. | 1,493 | 31,308 |
BioLife Solutions, Inc.(a) | 1,684 | 23,256 |
BJ's Restaurants, Inc.(a) | 920 | 19,946 |
Bloomin' Brands, Inc. | 1,195 | 19,861 |
Blucora, Inc.(a) | 5,072 | 93,629 |
BM Technologies, Inc.(a) | 42 | 247 |
Boise Cascade Co. | 231 | 13,742 |
Boot Barn Holdings, Inc.(a) | 261 | 17,986 |
Brady Corp., Class A | 385 | 18,187 |
Brandywine Realty Trust, REIT | 1,957 | 18,865 |
Brightsphere Investment Group, Inc. | 4,307 | 77,569 |
Brinker International, Inc.(a) | 815 | 17,954 |
Bristow Group, Inc.(a) | 527 | 12,332 |
Brookline Bancorp, Inc. | 228 | 3,035 |
Buckle, Inc. | 1,155 | 31,982 |
CalAmp Corp.(a) | 7,996 | 33,343 |
Calavo Growers, Inc. | 784 | 32,708 |
Security Description | Shares | Value |
Caleres, Inc. | 770 | $20,205 |
California Water Service Group | 1,474 | 81,881 |
Callon Petroleum Co.(a) | 506 | 19,835 |
Cal-Maine Foods, Inc. | 671 | 33,154 |
Capitol Federal Financial, Inc. | 1,900 | 17,442 |
Cara Therapeutics, Inc.(a) | 2,454 | 22,405 |
Cardiovascular Systems, Inc.(a) | 720 | 10,339 |
CareTrust REIT, Inc. | 3,817 | 70,385 |
Carpenter Technology Corp. | 469 | 13,090 |
Cars.com, Inc.(a) | 9,133 | 86,124 |
Cato Corp., Class A | 1,564 | 18,158 |
Cavco Industries, Inc.(a) | 147 | 28,811 |
Celsius Holdings, Inc.(a) | 286 | 18,664 |
Centerspace, REIT | 124 | 10,112 |
Central Garden & Pet Co.(a) | 204 | 8,654 |
Central Garden & Pet Co., Class A(a) | 214 | 8,562 |
Central Pacific Financial Corp. | 794 | 17,031 |
Century Aluminum Co.(a) | 1,349 | 9,942 |
Century Communities, Inc. | 605 | 27,207 |
Cerence, Inc.(a) | 2,528 | 63,781 |
CEVA, Inc.(a) | 2,021 | 67,825 |
Chatham Lodging Trust, REIT(a) | 1,443 | 15,079 |
Cheesecake Factory, Inc. | 749 | 19,789 |
Chefs' Warehouse, Inc.(a) | 1,829 | 71,130 |
Chesapeake Utilities Corp. | 615 | 79,673 |
Chico's FAS, Inc.(a) | 3,258 | 16,192 |
Children's Place, Inc.(a) | 401 | 15,607 |
Chuy's Holdings, Inc.(a) | 1,061 | 21,135 |
Cinemark Holdings, Inc.(a) | 3,402 | 51,098 |
CIRCOR International, Inc.(a) | 1,914 | 31,370 |
City Holding Co. | 223 | 17,813 |
Civitas Resources, Inc. | 375 | 19,609 |
Clearwater Paper Corp.(a) | 1,597 | 53,707 |
Coca-Cola Consolidated, Inc. | 31 | 17,481 |
Cogent Communications Holdings, Inc. | 1,184 | 71,940 |
Coherus Biosciences, Inc.(a) | 6,036 | 43,701 |
Cohu, Inc.(a) | 845 | 23,449 |
Collegium Pharmaceutical, Inc.(a) | 2,192 | 38,842 |
Columbia Banking System, Inc. | 110 | 3,151 |
Comfort Systems USA, Inc. | 297 | 24,696 |
Community Bank System, Inc. | 479 | 30,311 |
Community Health Systems, Inc.(a) | 11,131 | 41,741 |
Community Healthcare Trust, Inc., REIT | 1,951 | 70,646 |
Compass Minerals International, Inc. | 367 | 12,988 |
Computer Programs and Systems, Inc.(a) | 1,094 | 34,975 |
Comtech Telecommunications Corp. | 5,490 | 49,794 |
CONMED Corp. | 103 | 9,863 |
Conn's, Inc.(a) | 3,794 | 30,428 |
Consensus Cloud Solutions, Inc.(a) | 2,130 | 93,038 |
CONSOL Energy, Inc.(a) | 289 | 14,271 |
Consolidated Communications Holdings, Inc.(a) | 8,882 | 62,174 |
Security Description | Shares | Value |
Corcept Therapeutics, Inc.(a) | 1,653 | $39,308 |
Core Laboratories N.V. | 543 | 10,757 |
CoreCivic, Inc.(a) | 1,732 | 19,243 |
Corsair Gaming, Inc.(a) | 2,801 | 36,777 |
CorVel Corp.(a) | 250 | 36,817 |
Covetrus, Inc.(a) | 3,417 | 70,903 |
Cross Country Healthcare, Inc.(a) | 545 | 11,352 |
CSG Systems International, Inc. | 818 | 48,818 |
CTS Corp. | 924 | 31,462 |
Customers Bancorp, Inc.(a) | 82 | 2,780 |
Cutera, Inc.(a) | 1,243 | 46,612 |
CVB Financial Corp. | 126 | 3,126 |
Cytokinetics, Inc.(a) | 514 | 20,195 |
Dave & Buster's Entertainment, Inc.(a) | 562 | 18,422 |
Deluxe Corp. | 2,456 | 53,222 |
Designer Brands, Inc., Class A | 1,409 | 18,402 |
DiamondRock Hospitality Co., REIT(a) | 1,833 | 15,049 |
Diebold Nixdorf, Inc.(a) | 17,818 | 40,447 |
Digi International, Inc.(a) | 2,256 | 54,640 |
Digital Turbine, Inc.(a) | 1,255 | 21,925 |
Dime Community Bancshares, Inc. | 104 | 3,084 |
Dine Brands Global, Inc. | 318 | 20,695 |
Diodes, Inc.(a) | 1,316 | 84,974 |
Diversified Healthcare Trust, REIT | 34,491 | 62,774 |
DMC Global, Inc.(a) | 554 | 9,989 |
Donnelley Financial Solutions, Inc.(a) | 2,857 | 83,682 |
Dorian LPG Ltd. | 2,519 | 38,289 |
Dorman Products, Inc.(a) | 256 | 28,086 |
Douglas Elliman, Inc. | 3,448 | 16,516 |
Dril-Quip, Inc.(a) | 485 | 12,513 |
DXP Enterprises, Inc.(a) | 588 | 18,010 |
Dynavax Technologies Corp.(a) | 2,060 | 25,935 |
Eagle Bancorp, Inc. | 65 | 3,082 |
Eagle Pharmaceuticals, Inc.(a) | 803 | 35,677 |
Easterly Government Properties, Inc., REIT | 526 | 10,015 |
Ebix, Inc. | 1,837 | 31,045 |
Edgewell Personal Care Co. | 1,523 | 52,574 |
eHealth, Inc.(a) | 1,691 | 15,777 |
El Pollo Loco Holdings, Inc.(a) | 5,222 | 51,384 |
elf Beauty, Inc.(a) | 1,999 | 61,329 |
Ellington Financial, Inc., REIT | 565 | 8,289 |
Embecta Corp.(a) | 1,956 | 49,526 |
Emergent BioSolutions, Inc.(a) | 792 | 24,584 |
Employers Holdings, Inc. | 1,053 | 44,110 |
Enanta Pharmaceuticals, Inc.(a) | 575 | 27,180 |
Encore Capital Group, Inc.(a) | 527 | 30,445 |
Encore Wire Corp. | 401 | 41,672 |
Enerpac Tool Group Corp. | 662 | 12,591 |
Enova International, Inc.(a) | 1,024 | 29,512 |
EnPro Industries, Inc. | 98 | 8,029 |
Ensign Group, Inc. | 280 | 20,572 |
ePlus, Inc.(a) | 619 | 32,881 |
Security Description | Shares | Value |
ESCO Technologies, Inc. | 271 | $18,528 |
Essential Properties Realty Trust, Inc., REIT | 466 | 10,014 |
Ethan Allen Interiors, Inc. | 959 | 19,381 |
EVERTEC, Inc. | 1,294 | 47,723 |
EW Scripps Co., Class A(a) | 3,693 | 46,052 |
ExlService Holdings, Inc.(a) | 243 | 35,801 |
Exponent, Inc. | 205 | 18,751 |
Extreme Networks, Inc.(a) | 5,738 | 51,183 |
EZCORP, Inc., Class A(a) | 3,956 | 29,710 |
Fabrinet(a) | 568 | 46,065 |
FARO Technologies, Inc.(a) | 602 | 18,560 |
FB Financial Corp. | 75 | 2,942 |
Federal Signal Corp. | 1,182 | 42,079 |
First BanCorp | 2,183 | 28,183 |
First Bancorp/Southern Pines NC | 89 | 3,106 |
First Commonwealth Financial Corp. | 235 | 3,154 |
First Financial Bancorp | 156 | 3,026 |
First Hawaiian, Inc. | 128 | 2,907 |
Flagstar Bancorp, Inc. | 498 | 17,654 |
FormFactor, Inc.(a) | 626 | 24,245 |
Forrester Research, Inc.(a) | 556 | 26,599 |
Forward Air Corp. | 215 | 19,771 |
Fossil Group, Inc.(a) | 5,452 | 28,187 |
Four Corners Property Trust, Inc., REIT | 410 | 10,902 |
Franklin BSP Realty Trust, Inc. | 616 | 8,304 |
Franklin Electric Co., Inc. | 487 | 35,678 |
Franklin Street Properties Corp., REIT | 4,829 | 20,137 |
Fresh Del Monte Produce, Inc. | 1,244 | 36,735 |
Fulgent Genetics, Inc.(a) | 473 | 25,793 |
FutureFuel Corp. | 5,397 | 39,290 |
Gannett Co., Inc.(a) | 7,716 | 22,376 |
GCP Applied Technologies, Inc.(a) | 139 | 4,348 |
Genesco, Inc.(a) | 387 | 19,315 |
Gentherm, Inc.(a) | 503 | 31,392 |
Genworth Financial, Inc., Class A(a) | 13,472 | 47,556 |
GEO Group, Inc., REIT(a) | 3,168 | 20,909 |
Getty Realty Corp., REIT | 402 | 10,653 |
Gibraltar Industries, Inc.(a) | 300 | 11,625 |
G-III Apparel Group Ltd.(a) | 2,144 | 43,373 |
Glatfelter Corp. | 2,218 | 15,260 |
Glaukos Corp.(a) | 240 | 10,901 |
Global Net Lease, Inc., REIT | 1,436 | 20,334 |
GMS, Inc.(a) | 367 | 16,331 |
Gogo, Inc.(a) | 3,701 | 59,919 |
Golden Entertainment, Inc.(a) | 466 | 18,430 |
Granite Construction, Inc. | 848 | 24,711 |
Granite Point Mortgage Trust, Inc., REIT | 831 | 7,953 |
Green Dot Corp., Class A(a) | 1,743 | 43,767 |
Green Plains, Inc.(a) | 857 | 23,285 |
Greenbrier Companies, Inc. | 537 | 19,327 |
Griffon Corp. | 2,039 | 57,153 |
Group 1 Automotive, Inc. | 166 | 28,187 |
Security Description | Shares | Value |
Guess?, Inc. | 923 | $15,737 |
Hanger, Inc.(a) | 1,044 | 14,950 |
Hanmi Financial Corp. | 141 | 3,164 |
Harmonic, Inc.(a) | 5,750 | 49,852 |
Harmony Biosciences Holdings, Inc.(a) | 519 | 25,312 |
Harsco Corp.(a) | 1,935 | 13,758 |
Haverty Furniture Companies, Inc. | 2,609 | 60,477 |
Hawaiian Holdings, Inc.(a) | 4,676 | 66,914 |
Hawkins, Inc. | 975 | 35,129 |
Haynes International, Inc. | 409 | 13,403 |
HB Fuller Co. | 63 | 3,793 |
HCI Group, Inc. | 827 | 56,038 |
Healthcare Services Group, Inc. | 2,111 | 36,753 |
HealthStream, Inc.(a) | 1,760 | 38,210 |
Heartland Express, Inc. | 1,411 | 19,627 |
Heidrick & Struggles International, Inc. | 315 | 10,193 |
Helix Energy Solutions Group, Inc.(a) | 3,291 | 10,202 |
Helmerich & Payne, Inc. | 283 | 12,186 |
Heritage Financial Corp. | 122 | 3,070 |
Hersha Hospitality Trust, REIT(a) | 1,514 | 14,852 |
Heska Corp.(a) | 258 | 24,384 |
Hibbett, Inc. | 483 | 21,112 |
Hillenbrand, Inc. | 756 | 30,966 |
Hilltop Holdings, Inc. | 107 | 2,853 |
HNI Corp. | 567 | 19,669 |
HomeStreet, Inc. | 82 | 2,843 |
Hope Bancorp, Inc. | 223 | 3,086 |
Horace Mann Educators Corp. | 1,465 | 56,227 |
Hostess Brands, Inc.(a) | 877 | 18,601 |
Hub Group, Inc., Class A(a) | 275 | 19,508 |
Ichor Holdings Ltd.(a) | 473 | 12,289 |
Independent Bank Corp. | 38 | 3,018 |
Independent Bank Group, Inc. | 43 | 2,920 |
Industrial Logistics Properties Trust, REIT | 701 | 9,870 |
Innospec, Inc. | 46 | 4,406 |
Innovative Industrial Properties, Inc., REIT | 79 | 8,680 |
Innoviva, Inc.(a) | 2,388 | 35,247 |
Inogen, Inc.(a) | 2,039 | 49,303 |
Insight Enterprises, Inc.(a) | 181 | 15,617 |
Installed Building Products, Inc. | 233 | 19,376 |
Insteel Industries, Inc. | 325 | 10,943 |
Integer Holdings Corp.(a) | 142 | 10,034 |
Inter Parfums, Inc. | 759 | 55,453 |
InterDigital, Inc. | 655 | 39,824 |
Interface, Inc. | 944 | 11,838 |
Invesco Mortgage Capital, Inc | 600 | 8,808 |
iRobot Corp.(a) | 522 | 19,183 |
Ironwood Pharmaceuticals, Inc.(a) | 3,015 | 34,763 |
iStar, Inc., REIT | 1,307 | 17,919 |
iTeos Therapeutics, Inc.(a) | 1,136 | 23,402 |
Itron, Inc.(a) | 375 | 18,536 |
J & J Snack Foods Corp. | 141 | 19,692 |
Security Description | Shares | Value |
Jack in the Box, Inc. | 768 | $43,054 |
James River Group Holdings Ltd. | 1,701 | 42,151 |
John B Sanfilippo & Son, Inc. | 251 | 18,195 |
John Bean Technologies Corp. | 273 | 30,145 |
Joint Corp.(a) | 1,033 | 15,815 |
Kaiser Aluminum Corp. | 95 | 7,514 |
Kaman Corp. | 368 | 11,500 |
KAR Auction Services, Inc.(a) | 1,875 | 27,694 |
Kelly Services, Inc., Class A | 534 | 10,589 |
KKR Real Estate Finance Trust, Inc., REIT | 169 | 2,949 |
Knowles Corp.(a) | 2,866 | 49,668 |
Kontoor Brands, Inc. | 1,500 | 50,055 |
Koppers Holdings, Inc. | 1,329 | 30,089 |
Korn Ferry | 180 | 10,444 |
Kulicke & Soffa Industries, Inc. | 279 | 11,944 |
Lakeland Financial Corp. | 458 | 30,420 |
Lantheus Holdings, Inc.(a) | 371 | 24,497 |
Laredo Petroleum, Inc.(a) | 272 | 18,752 |
La-Z-Boy, Inc. | 873 | 20,699 |
LCI Industries | 232 | 25,956 |
LeMaitre Vascular, Inc. | 232 | 10,568 |
LendingTree, Inc.(a) | 309 | 13,540 |
LGI Homes, Inc.(a) | 333 | 28,938 |
Ligand Pharmaceuticals, Inc.(a) | 513 | 45,770 |
Lindsay Corp. | 171 | 22,712 |
Liquidity Services, Inc.(a) | 6,218 | 83,570 |
Livent Corp.(a) | 162 | 3,676 |
LivePerson, Inc.(a) | 3,091 | 43,707 |
LiveRamp Holdings, Inc.(a) | 1,620 | 41,812 |
LL Flooring Holdings, Inc.(a) | 6,404 | 60,005 |
Loyalty Ventures, Inc.(a) | 2,463 | 8,793 |
LTC Properties, Inc., REIT | 548 | 21,038 |
LXP Industrial Trust, REIT | 930 | 9,988 |
M/I Homes, Inc.(a) | 704 | 27,921 |
ManTech International Corp., Class A | 374 | 35,698 |
Marcus & Millichap, Inc. | 467 | 17,274 |
Marcus Corp.(a) | 3,594 | 53,083 |
MarineMax, Inc.(a) | 765 | 27,632 |
Marten Transport Ltd. | 1,145 | 19,259 |
Materion Corp. | 191 | 14,082 |
Matson, Inc. | 247 | 18,001 |
Matthews International Corp., Class A | 468 | 13,418 |
MaxLinear, Inc.(a) | 2,420 | 82,232 |
MDC Holdings, Inc. | 863 | 27,884 |
Medifast, Inc. | 335 | 60,471 |
MEDNAX, Inc.(a) | 2,768 | 58,156 |
Mercer International, Inc. | 3,623 | 47,642 |
Meridian Bioscience, Inc.(a) | 863 | 26,252 |
Merit Medical Systems, Inc.(a) | 181 | 9,823 |
Meritage Homes Corp.(a) | 380 | 27,550 |
Meritor, Inc.(a) | 369 | 13,406 |
Mesa Laboratories, Inc. | 115 | 23,453 |
Security Description | Shares | Value |
Meta Financial Group, Inc. | 786 | $30,395 |
Methode Electronics, Inc. | 798 | 29,558 |
MGP Ingredients, Inc. | 768 | 76,869 |
Middlesex Water Co. | 947 | 83,033 |
ModivCare, Inc.(a) | 154 | 13,013 |
Monarch Casino & Resort, Inc.(a) | 336 | 19,713 |
Monro, Inc. | 704 | 30,188 |
Moog, Inc., Class A | 165 | 13,099 |
Motorcar Parts of America, Inc.(a) | 3,360 | 44,083 |
Movado Group, Inc. | 1,062 | 32,848 |
Mr Cooper Group, Inc.(a) | 845 | 31,045 |
Mueller Industries, Inc. | 646 | 34,425 |
Myers Industries, Inc. | 372 | 8,456 |
MYR Group, Inc.(a) | 292 | 25,734 |
Myriad Genetics, Inc.(a) | 886 | 16,099 |
Nabors Industries Ltd.(a) | 79 | 10,578 |
National Bank Holdings Corp., Class A | 795 | 30,425 |
National Beverage Corp. | 380 | 18,597 |
National Presto Industries, Inc. | 634 | 41,616 |
National Vision Holdings, Inc.(a) | 1,331 | 36,602 |
Natus Medical, Inc.(a) | 722 | 23,660 |
NBT Bancorp, Inc. | 84 | 3,158 |
Neenah, Inc. | 467 | 15,943 |
Nektar Therapeutics(a) | 10,673 | 40,557 |
NeoGenomics, Inc.(a) | 1,969 | 16,047 |
NETGEAR, Inc.(a) | 2,853 | 52,838 |
NetScout Systems, Inc.(a) | 1,517 | 51,350 |
New York Mortgage Trust, Inc., REIT | 2,975 | 8,211 |
NexPoint Residential Trust, Inc., REIT | 153 | 9,564 |
NextGen Healthcare, Inc.(a) | 2,055 | 35,839 |
NMI Holdings, Inc., Class A(a) | 2,984 | 49,684 |
Northfield Bancorp, Inc. | 245 | 3,192 |
Northwest Bancshares, Inc. | 1,428 | 18,278 |
Northwest Natural Holding Co. | 1,471 | 78,110 |
NOW, Inc.(a) | 1,287 | 12,587 |
NV5 Global, Inc.(a) | 218 | 25,449 |
Oceaneering International, Inc.(a) | 1,179 | 12,592 |
ODP Corp.(a) | 617 | 18,658 |
Office Properties Income Trust, REIT | 978 | 19,511 |
OFG Bancorp | 1,151 | 29,235 |
O-I Glass, Inc.(a) | 1,040 | 14,560 |
Oil States International, Inc.(a) | 1,818 | 9,854 |
Olympic Steel, Inc. | 485 | 12,489 |
Omnicell, Inc.(a) | 461 | 52,439 |
OneSpan, Inc.(a) | 5,706 | 67,901 |
Onto Innovation, Inc.(a) | 315 | 21,968 |
OptimizeRx Corp.(a) | 1,342 | 36,757 |
OraSure Technologies, Inc.(a) | 8,660 | 23,469 |
Organogenesis Holdings, Inc.(a) | 10,522 | 51,347 |
Orion Office REIT, Inc. | 1,671 | 18,314 |
Orthofix Medical, Inc.(a) | 2,022 | 47,598 |
OSI Systems, Inc.(a) | 211 | 18,028 |
Security Description | Shares | Value |
Owens & Minor, Inc. | 2,172 | $68,309 |
Oxford Industries, Inc. | 190 | 16,861 |
Pacific Premier Bancorp, Inc. | 100 | 2,924 |
Pacira BioSciences, Inc.(a) | 636 | 37,079 |
Palomar Holdings, Inc.(a) | 847 | 54,547 |
Par Pacific Holdings, Inc.(a) | 2,190 | 34,142 |
Park Aerospace Corp. | 348 | 4,440 |
Park National Corp. | 24 | 2,910 |
Patrick Industries, Inc. | 467 | 24,209 |
Patterson-UTI Energy, Inc. | 780 | 12,293 |
PBF Energy, Inc., Class A(a) | 1,049 | 30,442 |
PC Connection, Inc. | 401 | 17,664 |
PDF Solutions, Inc.(a) | 602 | 12,949 |
Pennant Group, Inc.(a) | 1,311 | 16,794 |
PennyMac Mortgage Investment Trust, REIT | 561 | 7,759 |
Perdoceo Education Corp.(a) | 2,566 | 30,227 |
Perficient, Inc.(a) | 371 | 34,017 |
PetMed Express, Inc. | 3,382 | 67,302 |
PGT Innovations, Inc.(a) | 1,139 | 18,953 |
Phibro Animal Health Corp., Class A | 2,167 | 41,455 |
Photronics, Inc.(a) | 636 | 12,389 |
Piper Sandler Companies | 152 | 17,231 |
Pitney Bowes, Inc. | 4,528 | 16,391 |
Plantronics, Inc.(a) | 1,071 | 42,497 |
Plexus Corp.(a) | 1,264 | 99,224 |
Powell Industries, Inc. | 1,961 | 45,829 |
PRA Group, Inc.(a) | 844 | 30,688 |
Preferred Bank | 45 | 3,061 |
Prestige Consumer Healthcare, Inc.(a) | 742 | 43,630 |
PriceSmart, Inc. | 881 | 63,106 |
ProAssurance Corp. | 1,946 | 45,984 |
PROG Holdings, Inc.(a) | 1,149 | 18,958 |
Progress Software Corp. | 877 | 39,728 |
ProPetro Holding Corp.(a) | 1,048 | 10,480 |
Proto Labs, Inc.(a) | 1,129 | 54,011 |
Provident Financial Services, Inc. | 143 | 3,183 |
Quaker Chemical Corp. | 29 | 4,336 |
Quanex Building Products Corp. | 905 | 20,589 |
QuinStreet, Inc.(a) | 1,362 | 13,702 |
RadNet, Inc.(a) | 791 | 13,668 |
Rambus, Inc.(a) | 2,962 | 63,653 |
Ranger Oil Corp., Class A(a) | 608 | 19,985 |
Rayonier Advanced Materials, Inc.(a) | 3,175 | 8,318 |
RE/MAX Holdings, Inc., Class A | 734 | 17,998 |
Ready Capital Corp., REIT | 229 | 2,730 |
Redwood Trust, Inc., REIT | 2,049 | 15,798 |
REGENXBIO, Inc.(a) | 1,140 | 28,158 |
Renasant Corp. | 106 | 3,054 |
Rent-A-Center, Inc. | 1,385 | 26,938 |
Resideo Technologies, Inc.(a) | 964 | 18,721 |
Resources Connection, Inc. | 956 | 19,474 |
Retail Opportunity Investments Corp., REIT | 658 | 10,383 |
Security Description | Shares | Value |
REX American Resources Corp.(a) | 326 | $27,645 |
Rogers Corp.(a) | 19 | 4,980 |
RPC, Inc.(a) | 1,602 | 11,070 |
RPT Realty, REIT | 1,014 | 9,968 |
Ruth's Hospitality Group, Inc. | 1,225 | 19,918 |
S&T Bancorp, Inc. | 113 | 3,100 |
Safehold, Inc., REIT | 263 | 9,302 |
Safety Insurance Group, Inc. | 585 | 56,803 |
Sally Beauty Holdings, Inc.(a) | 1,717 | 20,467 |
Sanmina Corp.(a) | 2,457 | 100,074 |
Saul Centers, Inc., REIT | 240 | 11,306 |
ScanSource, Inc.(a) | 484 | 15,072 |
Scholastic Corp. | 746 | 26,834 |
Schweitzer-Mauduit International, Inc. | 633 | 15,901 |
Seacoast Banking Corp. of Florida | 98 | 3,238 |
Select Medical Holdings Corp. | 2,190 | 51,728 |
Selectquote, Inc.(a) | 6,134 | 15,212 |
Seneca Foods Corp., Class A(a) | 520 | 28,881 |
Service Properties Trust, REIT | 2,785 | 14,566 |
ServisFirst Bancshares, Inc. | 40 | 3,157 |
Shake Shack, Inc., Class A(a) | 1,237 | 48,837 |
Shenandoah Telecommunications Co. | 3,124 | 69,353 |
Shoe Carnival, Inc. | 794 | 17,158 |
Shutterstock, Inc. | 1,510 | 86,538 |
Signet Jewelers Ltd. | 573 | 30,633 |
Simmons First National Corp., Class A | 137 | 2,913 |
Simply Good Foods Co.(a) | 460 | 17,374 |
Simulations Plus, Inc. | 741 | 36,554 |
SiriusPoint Ltd.(a) | 9,903 | 53,674 |
SITE Centers Corp., REIT | 792 | 10,668 |
SkyWest, Inc.(a) | 3,004 | 63,835 |
Sleep Number Corp.(a) | 570 | 17,641 |
SM Energy Co. | 600 | 20,514 |
SMART Global Holdings, Inc.(a) | 3,124 | 51,140 |
Sonic Automotive, Inc., Class A | 714 | 26,154 |
Sonos, Inc.(a) | 2,004 | 36,152 |
South Jersey Industries, Inc. | 2,339 | 79,853 |
Southside Bancshares, Inc. | 81 | 3,031 |
Southwestern Energy Co.(a) | 3,329 | 20,806 |
SpartanNash Co. | 1,962 | 59,194 |
SPS Commerce, Inc.(a) | 406 | 45,898 |
SPX Corp.(a) | 1,033 | 54,584 |
St Joe Co. | 217 | 8,585 |
Standard Motor Products, Inc. | 1,248 | 56,148 |
Standex International Corp. | 692 | 58,668 |
Stepan Co. | 110 | 11,148 |
Steven Madden Ltd. | 984 | 31,695 |
Stewart Information Services Corp. | 913 | 45,422 |
StoneX Group, Inc.(a) | 232 | 18,112 |
Strategic Education, Inc. | 419 | 29,573 |
Sturm Ruger & Co., Inc. | 1,067 | 67,915 |
Summit Hotel Properties, Inc., REIT(a) | 2,075 | 15,085 |
Security Description | Shares | Value |
SunCoke Energy, Inc. | 2,011 | $13,695 |
Supernus Pharmaceuticals, Inc.(a) | 871 | 25,189 |
Surmodics, Inc.(a) | 284 | 10,573 |
Sylvamo Corp. | 382 | 12,484 |
Talos Energy, Inc.(a) | 1,275 | 19,724 |
Tanger Factory Outlet Centers, Inc., REIT | 684 | 9,726 |
TechTarget, Inc.(a) | 212 | 13,933 |
Telephone and Data Systems, Inc. | 4,441 | 70,123 |
Tennant Co. | 536 | 31,758 |
Thryv Holdings, Inc.(a) | 1,080 | 24,181 |
TimkenSteel Corp.(a) | 679 | 12,704 |
Titan International, Inc.(a) | 497 | 7,505 |
Tompkins Financial Corp. | 45 | 3,244 |
Tootsie Roll Industries, Inc. | 543 | 19,195 |
Tredegar Corp. | 738 | 7,380 |
TreeHouse Foods, Inc.(a) | 454 | 18,986 |
Tri Pointe Homes, Inc.(a) | 1,555 | 26,233 |
Trinity Industries, Inc. | 865 | 20,950 |
Trinseo PLC | 403 | 15,499 |
Triumph Bancorp, Inc.(a) | 451 | 28,215 |
Triumph Group, Inc.(a) | 910 | 12,094 |
TrueBlue, Inc.(a) | 509 | 9,111 |
Trupanion, Inc.(a) | 964 | 58,091 |
TrustCo Bank Corp. NY | 579 | 17,856 |
Trustmark Corp. | 110 | 3,211 |
TTEC Holdings, Inc. | 157 | 10,659 |
TTM Technologies, Inc.(a) | 3,835 | 47,937 |
Tupperware Brands Corp.(a) | 11,416 | 72,377 |
Two Harbors Investment Corp., REIT | 1,704 | 8,486 |
UFP Industries, Inc. | 711 | 48,448 |
Ultra Clean Holdings, Inc.(a) | 428 | 12,742 |
Unifi, Inc.(a) | 1,209 | 16,999 |
UniFirst Corp. | 213 | 36,674 |
uniQure N.V.(a) | 1,422 | 26,506 |
Unisys Corp.(a) | 2,955 | 35,549 |
United Community Banks, Inc. | 105 | 3,170 |
United Fire Group, Inc. | 1,353 | 46,313 |
United Natural Foods, Inc.(a) | 1,520 | 59,888 |
Uniti Group, Inc., REIT | 951 | 8,958 |
Unitil Corp. | 1,413 | 82,971 |
Universal Corp. | 1,186 | 71,753 |
Universal Electronics, Inc.(a) | 1,607 | 41,091 |
Universal Health Realty Income Trust, REIT | 189 | 10,057 |
Universal Insurance Holdings, Inc. | 4,359 | 56,798 |
Urban Edge Properties | 652 | 9,917 |
Urban Outfitters, Inc.(a) | 1,665 | 31,069 |
Urstadt Biddle Properties, Inc., REIT, Class A | 663 | 10,741 |
US Physical Therapy, Inc. | 132 | 14,414 |
Security Description | Shares | Value | |
US Silica Holdings, Inc.(a) | 937 | $10,701 | |
USANA Health Sciences, Inc.(a) | 246 | 17,801 | |
Vanda Pharmaceuticals, Inc.(a) | 3,624 | 39,502 | |
Varex Imaging Corp.(a) | 1,086 | 23,230 | |
Vector Group Ltd. | 6,089 | 63,934 | |
Veeco Instruments, Inc.(a) | 655 | 12,707 | |
Vericel Corp.(a) | 2,140 | 53,885 | |
Veris Residential, Inc., REIT(a) | 1,316 | 17,424 | |
Veritex Holdings, Inc. | 96 | 2,809 | |
Veritiv Corp.(a) | 124 | 13,460 | |
Viad Corp.(a) | 477 | 13,170 | |
Viavi Solutions, Inc.(a) | 1,670 | 22,094 | |
Vir Biotechnology, Inc.(a) | 873 | 22,235 | |
Virtus Investment Partners, Inc. | 466 | 79,695 | |
Vista Outdoor, Inc.(a) | 2,016 | 56,246 | |
Vonage Holdings Corp.(a) | 3,866 | 72,835 | |
Wabash National Corp. | 1,362 | 18,496 | |
Walker & Dunlop, Inc. | 352 | 33,912 | |
Warrior Met Coal, Inc. | 420 | 12,856 | |
Washington Real Estate Investment Trust, REIT | 419 | 8,929 | |
WD-40 Co. | 94 | 18,928 | |
Westamerica BanCorp | 52 | 2,894 | |
Whitestone REIT | 966 | 10,384 | |
Winnebago Industries, Inc. | 1,132 | 54,970 | |
WisdomTree Investments, Inc. | 14,927 | 75,680 | |
Wolverine World Wide, Inc. | 1,607 | 32,397 | |
World Acceptance Corp.(a) | 243 | 27,274 | |
World Fuel Services Corp. | 1,630 | 33,350 | |
WSFS Financial Corp. | 73 | 2,927 | |
WW International, Inc.(a) | 3,248 | 20,755 | |
Xencor, Inc.(a) | 985 | 26,959 | |
Xenia Hotels & Resorts, Inc., REIT(a) | 1,037 | 15,068 | |
XPEL, Inc.(a) | 541 | 24,848 | |
Xperi Holding Corp. | 4,534 | 65,426 | |
Yelp, Inc.(a) | 2,870 | 79,700 | |
ZIMVIE, Inc.(a) | 2,589 | 41,450 | |
Zumiez, Inc.(a) | 1,228 | 31,928 | |
Zynex, Inc. | 6,554 | 52,301 | |
TOTAL INVESTMENTS—99.8% (Cost $17,234,598) | 16,991,776 | ||
OTHER ASSETS IN EXCESS OF LIABILITIES—0.2% | 30,252 | ||
NET ASSETS—100.0% | $17,022,028 |
(a) | Non-income producing security. |
PLC=Public Limited Company |
REIT=Real Estate Investment Trust |
INDUSTRY | PERCENTAGE OF NET ASSETS |
Healthcare Providers and Facilities | 3.5% |
Business Software for Specific Uses | 3.3 |
Gas and Water Utilities | 2.8 |
Marketed Pharmaceuticals | 2.7 |
Commercial Hardware | 2.6 |
Consumer Insurance | 2.6 |
Commercial Insurance | 2.5 |
Content Providers | 2.5 |
Management and IT Services | 2.4 |
Investment Services | 2.4 |
Telecommunication Networks | 2.4 |
Real Estate Banking | 2.4 |
Non Real Estate Banking | 2.4 |
Medical Devices | 2.4 |
Auto Products | 2.3 |
Rental | 2.3 |
Home Office and Consumer Equipment Manufacture | 2.3 |
Operators and Developers | 2.3 |
Transportation Services | 2.3 |
Hospital Equipment | 2.2 |
Transaction Services | 2.2 |
Home Office and Consumer Equipment Retail | 2.0 |
Digital Integrated Circuits | 1.9 |
Mechanical Components | 1.9 |
Specialty Services | 1.9 |
Production Equipment | 1.8 |
Upstream Energy | 1.8 |
Food Distributors | 1.8 |
Distribution Services | 1.7 |
Business Software for Specific Industries | 1.7 |
Information and Electrical Components | 1.7 |
Restaurants | 1.7 |
Other Pharmaceuticals | 1.6 |
Apparel Retailers | 1.5 |
Contract Electronics Services | 1.4 |
Chemicals | 1.4 |
Semiconductor Services and Equipment | 1.3 |
Clinical Stage Pharmaceuticals | 1.3 |
Alcohol and Tobacco | 1.3 |
Primary Foods | 1.2 |
Processed Foods | 1.2 |
Branded Apparel | 1.1 |
Other Natural Resources | 1.1 |
INDUSTRY | PERCENTAGE OF NET ASSETS |
Transport Aerospace and Defense Equipment | 1.1% |
Online Distribution Networks | 1.0 |
Personal Products | 1.0 |
Analog and Mixed Signal Integrated Circuits | 1.0 |
Search and Social Networks | 1.0 |
Electric Regulated | 1.0 |
Metals | 0.9 |
End User Hardware | 0.9 |
Healthcare Products Distribution | 0.8 |
Accessories and Footwear | 0.7 |
Industrial Conglomerates | 0.7 |
Downstream | 0.6 |
Internet Services | 0.5 |
Drugstores | 0.4 |
Consumer Paper Products | 0.3 |
Medical Research Services and Equipment | 0.3 |
Midstream | 0.2 |
Consumer Services | 0.1 |
Brokers and Dealers | 0.1 |
Vitamins and Nutritional Supplements | 0.1 |
Other Assets in Excess of Liabilities | 0.2 |
Total | 100.0% |
Security Description | Shares | Value | |
EXCHANGE-TRADED FUNDS—99.9% | |||
Syntax Stratified LargeCap ETF(a) | 93,998 | $5,699,221 | |
Syntax Stratified MidCap ETF(a) | 20,162 | 668,816 | |
Syntax Stratified SmallCap ETF(a) | 8,375 | 334,389 | |
TOTAL INVESTMENTS—99.9% (Cost $7,012,568) | 6,702,426 | ||
OTHER ASSETS IN EXCESS OF LIABILITIES—0.1% | 3,450 | ||
NET ASSETS—100.0% | $6,705,876 |
(a) | Affiliated investment. The Fund's transactions and earnings are as follows: |
Affiliated Investments | Value December 31, 2021 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Net Change in Unrealized Appreciation (Depreciation) | Value June 30, 2022 | Shares as of June 30, 2022 | Dividend Income | Net Capital Gain Distributions |
Syntax Stratified Large Cap ETF | $14,471,787 | $0 | $(7,266,688) | $567,034 | $(2,072,912) | $5,699,221 | 93,998 | $— | $— |
Syntax Stratified MidCap ETF | 1,708,961 | 24,165 | (836,500) | (50,872) | (176,938) | 668,816 | 20,162 | — | — |
Syntax Stratified SmallCap ETF | 815,106 | 43,985 | (400,335) | (59,365) | (65,002) | 334,389 | 8,375 | — | — |
Total | $16,995,854 | $68,150 | $(8,503,523) | $456,797 | $(2,314,852) | $6,702,426 | 122,535 | $— | $— |
ETF=Exchange Traded Fund |
ASSET TYPE | PERCENTAGE OF NET ASSETS |
Large Cap ETF | 85.0% |
Mid Cap ETF | 9.9 |
Small Cap ETF | 5.0 |
Other Assets in Excess of Liabilities | 0.1 |
Total | 100.0% |
Security Description | Shares | Value | |
EXCHANGE-TRADED FUNDS—81.8% | |||
Syntax Stratified LargeCap ETF(a) | 478,711 | $29,024,870 | |
Syntax Stratified MidCap ETF(a) | 102,678 | 3,406,045 | |
Syntax Stratified SmallCap ETF(a) | 42,665 | 1,703,490 | |
TOTAL EXCHANGE-TRADED FUNDS (Cost $37,255,291) | $34,134,405 | ||
TOTAL PURCHASED OPTIONS—18.2% (Cost $6,053,716) | $7,583,094 | ||
TOTAL INVESTMENTS—100.0% (Cost $43,309,007) | 41,717,499 | ||
OTHER ASSETS IN EXCESS OF LIABILITIES—0.0% | 7,947 | ||
NET ASSETS—100.0% | $41,725,446 |
(a) | Affiliated investment. The Fund's transactions and earnings are as follows: |
Affiliated Investments | Value December 31, 2021 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Net Change in Unrealized Appreciation (Depreciation) | Value June 30, 2022 | Shares as of June 30, 2022 | Dividend Income | Net Capital Gain Distributions |
Syntax Stratified LargeCap ETF | $34,369,826 | $3,299,229 | $(3,391,389) | $110,047 | $(5,362,843) | $29,024,870 | 478,711 | $— | $— |
Syntax Stratified MidCap ETF | 4,058,767 | 471,710 | (347,848) | (17,596) | (758,988) | 3,406,045 | 102,678 | — | — |
Syntax Stratified SmallCap ETF | 1,935,669 | 364,766 | (167,817) | (35,887) | (393,241) | 1,703,490 | 42,665 | — | — |
Total | $40,364,262 | $4,135,705 | $(3,907,054) | $56,564 | $(6,515,072) | $34,134,405 | 624,054 | $— | $— |
ETF=Exchange Traded Fund |
Purchased Call Options — 0.5% |
Exchange-Traded Options — 0.5% |
Description | Number of Contracts | Notional Amount | Cost | Exercise Price | Expiration Date | Value |
SPDR S&P 500 ETF Trust | 438 | $16,523,550 | $1,084,990 | $515 | 12/15/23 | $197,538 |
Total | $197,538 |
Purchased Put Options — 17.7% |
Exchange-Traded Options — 17.7% |
Description | Number of Contracts | Notional Amount | Cost | Exercise Price | Expiration Date | Value |
SPDR S&P 500 ETF Trust | 876 | $33,047,100 | $4,968,726 | $455 | 12/15/23 | $7,385,556 |
Total | $7,385,556 | |||||
Total Purchased Options — 18.2% | $7,583,094 | |||||
Written Call Options — (0.2)% |
Exchange-Traded Options — (0.2)% |
Description | Number of Contracts | Notional Amount | Proceeds Received | Exercise Price | Expiration Date | Value |
SPDR S&P 500 ETF Trust | 438 | $16,523,550 | $(401,337) | $575 | 12/15/23 | $(77,964) |
Total | $(77,964) |
ASSET TYPE | PERCENTAGE OF NET ASSETS |
Large Cap ETF | 69.5% |
Mid Cap ETF | 8.2 |
Small Cap ETF | 4.1 |
Purchased Options | 18.2 |
Written Options | (0.2) |
Other Assets in Excess of Liabilities | 0.2 |
Total | 100.0% |
Security Description | Shares | Value | |
EXCHANGE-TRADED FUNDS—99.9% | |||
Syntax Stratified LargeCap ETF(a) | 210,654 | $12,772,226 | |
Syntax Stratified MidCap ETF(a) | 45,542 | 1,510,724 | |
Syntax Stratified SmallCap ETF(a) | 18,909 | 754,981 | |
TOTAL INVESTMENTS—99.9% (Cost $14,921,901) | 15,037,931 | ||
OTHER ASSETS IN EXCESS OF LIABILITIES—0.1% | 15,968 | ||
NET ASSETS—100.0% | $15,053,899 |
(a) | Affiliated investment. The Fund's transactions and earnings are as follows: |
Affiliated Investments | Value June 14, 2022* | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Net Change in Unrealized Appreciation (Depreciation) | Value June 30, 2022 | Shares as of June 30, 2022 | Dividend Income | Net Capital Gain Distributions |
Syntax Stratified Large Cap ETF | $— | $12,680,036 | $— | $— | $92,190 | $12,772,226 | 210,654 | $— | $— |
Syntax Stratified MidCap ETF | — | 1,494,994 | — | — | 15,730 | 1,510,724 | 45,542 | — | — |
Syntax Stratified SmallCap ETF | — | 746,871 | — | — | 8,110 | 754,981 | 18,909 | — | — |
Total | $— | $14,921,901 | $— | $— | $116,030 | $15,037,931 | 275,105 | $— | $— |
* | Commencement of operations. |
ETF=Exchange Traded Fund |
ASSET TYPE | PERCENTAGE OF NET ASSETS |
Large Cap ETF | 84.9% |
Mid Cap ETF | 10.0 |
Small Cap ETF | 5.0 |
Other Assets in Excess of Liabilities | 0.1 |
Total | 100.0% |
Syntax Stratified LargeCap ETF | Syntax Stratified MidCap ETF | Syntax Stratified SmallCap ETF | |||
ASSETS | |||||
Investments in securities of unaffiliated issuers | $93,965,922 | $9,133,580 | $16,991,776 | ||
Total Investments | 93,965,922 | 9,133,580 | 16,991,776 | ||
Cash | 144,409 | — | 3,934 | ||
Receivable for fund share sold | 1,519,604 | — | — | ||
Receivable from investments sold | 29,443 | 31,057 | 21,385 | ||
Dividends receivable | 95,548 | 5,765 | 10,804 | ||
Total Assets | 95,754,926 | 9,170,402 | 17,027,899 | ||
LIABILITIES | |||||
Due to Custodian | — | 21,783 | — | ||
Payable for investments purchased | 1,516,445 | — | — | ||
Accrued Management fee | 22,644 | 2,546 | 5,800 | ||
Accrued Other fees | 369 | 36 | 71 | ||
Total Liabilities | 1,539,458 | 24,365 | 5,871 | ||
NET ASSETS | $94,215,468 | $9,146,037 | $17,022,028 | ||
NET ASSETS CONSISTS OF: | |||||
Paid in Capital | $90,374,736 | $9,608,474 | $17,180,095 | ||
Distributable earnings (loss) | 3,840,732 | (462,437) | (158,067) | ||
NET ASSETS | $94,215,468 | $9,146,037 | $17,022,028 | ||
NET ASSET VALUE PER SHARE | $60.78 | $33.26 | $40.05 | ||
SHARES OUTSTANDING (unlimited number of shares authorized, no par value) | 1,550,000 | 275,000 | 425,000 | ||
COST OF INVESTMENTS | $97,778,227 | $9,416,528 | $17,234,598 |
Syntax Stratified U.S. Total Market ETF | Syntax Stratified U.S. Total Market Hedged ETF | Syntax Stratified Total Market II ETF | |||
ASSETS | |||||
Investments in securities of unaffiliated issuers | $— | $7,583,094 | $— | ||
Investments in securities of affiliated issuers | 6,702,426 | 34,134,405 | 15,037,931 | ||
Total Investments | 6,702,426 | 41,717,499 | 15,037,931 | ||
Cash | 3,679 | 89,274 | 14,406 | ||
Cash at broker | — | 10,196 | — | ||
Receivable for fund share sold | — | — | 1,881,737 | ||
Dividends receivable | — | 86 | 2,367 | ||
Tax reclaims receivable | — | — | 211 | ||
Total Assets | 6,706,105 | 41,817,055 | 16,936,652 | ||
LIABILITIES | |||||
Payable for investments purchased | — | — | 1,881,723 | ||
Written options, at value | — | 77,964 | — | ||
Accrued Management fee | 199 | 13,474 | 1,004 | ||
Accrued Other fees | 30 | 171 | 26 | ||
Total Liabilities | 229 | 91,609 | 1,882,753 | ||
NET ASSETS | $6,705,876 | $41,725,446 | $15,053,899 | ||
NET ASSETS CONSISTS OF: | |||||
Paid in Capital | $6,550,528 | $43,756,223 | $14,835,013 | ||
Distributable earnings (loss) | 155,348 | (2,030,777) | 218,886 | ||
NET ASSETS | $6,705,876 | $41,725,446 | $15,053,899 | ||
NET ASSET VALUE PER SHARE | $38.32 | $37.93 | $37.63 | ||
SHARES OUTSTANDING (unlimited number of shares authorized, no par value) | 175,000 | 1,100,000 | 400,000 | ||
Investments in securities of unaffiliated issuers | $— | $6,053,716 | $— | ||
Investments in securities of affiliated issuers | 7,012,568 | 37,255,291 | 14,921,901 | ||
TOTAL COST OF INVESTMENTS | $7,012,568 | $43,309,007 | $14,921,901 | ||
WRITTEN OPTIONS PREMIUM | $— | $401,337 | $— |
Syntax Stratified LargeCap ETF | Syntax Stratified MidCap ETF | Syntax Stratified SmallCap ETF | |||
Six Months Ended 6/30/22 (Unaudited) | Six Months Ended 6/30/22 (Unaudited) | Six Months Ended 6/30/22 (Unaudited) | |||
INVESTMENT INCOME | |||||
Dividend income (net of foreign taxes withheld of $335, $0 and $103, respectively) | $944,529 | $62,603 | $126,595 | ||
Total Investment Income | 944,529 | 62,603 | 126,595 | ||
EXPENSES | |||||
Management fee | 220,172 | 20,821 | 42,950 | ||
Other fees | 2,397 | 227 | 468 | ||
Miscellaneous Expenses | 59 | — | — | ||
Total Expenses | 222,628 | 21,048 | 43,418 | ||
Expense Waiver/Reimbursement | (73,391) | (4,627) | (4,772) | ||
Net Expenses | 149,237 | 16,421 | 38,646 | ||
NET INVESTMENT INCOME (LOSS) | 795,292 | 46,182 | 87,949 | ||
REALIZED AND UNREALIZED GAIN (LOSS) | |||||
Net realized gain (loss) from transactions in investment securities | (208,705) | (125,102) | (454,096) | ||
Net realized gain (loss) from in-kind redemptions of investment securities | 8,214,300 | — | 499,783 | ||
Net realized gain (loss) | 8,005,595 | (125,102) | 45,687 | ||
Net change in unrealized appreciation/depreciation on investments | (23,908,062) | (1,777,182) | (4,541,548) | ||
NET REALIZED AND UNREALIZED GAIN (LOSS) | (15,902,467) | (1,902,284) | (4,495,861) | ||
NET INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS | $(15,107,175) | $(1,856,102) | $(4,407,912) |
Syntax Stratified U.S. Total Market ETF | Syntax Stratified U.S. Total Market Hedged ETF | Syntax Stratified Total Market II ETF | |||
Six Months Ended 6/30/22 (Unaudited) | Six Months Ended 6/30/22 (Unaudited) | For the Period 6/14/22(a) to 6/30/22 (Unaudited) | |||
INVESTMENT INCOME | |||||
Dividend income (net of foreign taxes withheld of $0, $0 and $300, respectively) | $— | $— | $3,442 | ||
Total Investment Income | — | — | 3,442 | ||
EXPENSES | |||||
Management fee | 42,158 | 224,625 | 4,128 | ||
Other fees | 275 | 1,101 | 27 | ||
Total Expenses | 42,433 | 225,726 | 4,155 | ||
Expense Waiver/Reimbursement | (40,320) | (139,821) | (3,124) | ||
Net Expenses | 2,113 | 85,905 | 1,031 | ||
NET INVESTMENT INCOME (LOSS) | (2,113) | (85,905) | 2,411 | ||
REALIZED AND UNREALIZED GAIN (LOSS) | |||||
Net realized gain (loss) from transactions in investment securities | — | (5,894) | 23,324 | ||
Net realized gain (loss) from transactions in affiliated investment securities | 349 | (4,999) | — | ||
Net realized gain (loss) from in-kind redemptions of investment securities | — | — | 77,121 | ||
Net realized gain (loss) from in-kind redemptions of affiliated investment securities | 456,448 | 61,563 | — | ||
Net realized gain (loss) from transactions in written options | — | 19,920 | — | ||
Net realized gain (loss) | 456,797 | 70,590 | 100,445 | ||
Net change in unrealized appreciation/depreciation on investments | — | 2,196,720 | — | ||
Net change in unrealized appreciation/depreciation on affiliated investments | (2,314,852) | (6,515,072) | 116,030 | ||
Net change in unrealized appreciation/depreciation on written options | — | 451,295 | — | ||
Net change in unrealized appreciation/depreciation | (2,314,852) | (3,867,057) | 116,030 | ||
NET REALIZED AND UNREALIZED GAIN (LOSS) | (1,858,055) | (3,796,467) | 216,475 | ||
NET INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS | $(1,860,168) | $(3,882,372) | $218,886 |
(a) | Fund commenced operations on June 14, 2022. |
Syntax Stratified LargeCap ETF | Syntax Stratified MidCap ETF | ||||||
Six Months Ended 6/30/22 (Unaudited) | Year Ended 12/31/21 | Six Months Ended 6/30/22 (Unaudited) | Year Ended 12/31/21 | ||||
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS: | |||||||
Net investment income (loss) | $795,292 | $1,123,302 | $46,182 | $62,501 | |||
Net realized gain (loss) | 8,005,595 | 5,533,657 | (125,102) | 487,191 | |||
Net change in unrealized appreciation/depreciation | (23,908,062) | 11,995,507 | (1,777,182) | 632,555 | |||
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS | (15,107,175) | 18,652,466 | (1,856,102) | 1,182,247 | |||
DISTRIBUTIONS TO SHAREHOLDERS | |||||||
Distributions to Shareholders | — | (1,189,175) | — | (234,274) | |||
INCREASE (DECREASE) IN NET ASSETS FROM SHARE TRANSACTIONS: | |||||||
Proceeds from Shares Sold | 23,680,984 | 61,152,050 | 821,052 | 6,815,911 | |||
Cost of Shares Redeemed | (23,166,404) | (11,919,869) | — | (1,003,463) | |||
INCREASE (DECREASE) IN NET ASSETS FROM SHARE TRANSACTIONS: | 514,580 | 49,232,181 | 821,052 | 5,812,448 | |||
Contribution from Sub-Adviser | 123,526 | — | — | — | |||
NET INCREASE (DECREASE) IN NET ASSETS DURING THE PERIOD | (14,469,069) | 66,695,472 | (1,035,050) | 6,760,421 | |||
NET ASSETS AT BEGINNING OF PERIOD | 108,684,537 | 41,989,065 | 10,181,087 | 3,420,666 | |||
NET ASSETS AT END OF PERIOD | $94,215,468 | $108,684,537 | $9,146,037 | $10,181,087 | |||
SHARE TRANSACTIONS: | |||||||
Shares sold | 375,000 | 950,000 | 25,000 | 175,000 | |||
Shares redeemed | (350,000) | (175,000) | — | (25,000) | |||
NET INCREASE (DECREASE) | 25,000 | 775,000 | 25,000 | 150,000 |
Syntax Stratified SmallCap ETF | Syntax Stratified U.S. Total Market ETF | ||||||
Six Months Ended 6/30/22 (Unaudited) | Year Ended 12/31/21 | Six Months Ended 6/30/22 (Unaudited) | For the Period 3/18/21(a) to 12/31/21 | ||||
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS: | |||||||
Net investment income (loss) | $87,949 | $185,213 | $(2,113) | $234,037 | |||
Net realized gain (loss) | 45,687 | 3,671,700 | 456,797 | 444,307 | |||
Net change in unrealized appreciation/depreciation | (4,541,548) | 422,221 | (2,314,852) | 2,004,710 | |||
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS | (4,407,912) | 4,279,134 | (1,860,168) | 2,683,054 | |||
DISTRIBUTIONS TO SHAREHOLDERS | |||||||
Distributions to Shareholders | — | (1,521,147) | — | (246,920) | |||
INCREASE (DECREASE) IN NET ASSETS FROM SHARE TRANSACTIONS: | |||||||
Proceeds from Shares Sold | 1,186,976 | 7,862,252 | — | 21,000,000 | |||
Cost of Shares Redeemed | (1,193,073) | (6,436,337) | (8,466,384) | (6,403,706) | |||
INCREASE (DECREASE) IN NET ASSETS FROM SHARE TRANSACTIONS: | (6,097) | 1,425,915 | (8,466,384) | 14,596,294 | |||
Contribution from Sub-Adviser | 26,029 | — | — | — | |||
NET INCREASE (DECREASE) IN NET ASSETS DURING THE PERIOD | (4,387,980) | 4,183,902 | (10,326,552) | 17,032,428 | |||
NET ASSETS AT BEGINNING OF PERIOD | 21,410,008 | 17,226,106 | 17,032,428 | — | |||
NET ASSETS AT END OF PERIOD | $17,022,028 | $21,410,008 | $6,705,876 | $17,032,428 | |||
SHARE TRANSACTIONS: | |||||||
Shares sold | 25,000 | 150,000 | — | 525,000 | |||
Shares redeemed | (25,000) | (125,000) | (200,000) | (150,000) | |||
NET INCREASE (DECREASE) | — | 25,000 | (200,000) | 375,000 |
(a) | Fund commenced operations on March 18, 2021. |
Syntax Stratified U.S. Total Market Hedged ETF | Syntax Stratified Total Market II ETF | ||||
Six Months Ended 6/30/22 (Unaudited) | For the Period 6/15/21(a) to 12/31/21 | For the Period 6/14/22(b) to 6/30/22 (Unaudited) | |||
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS: | |||||
Net investment income (loss) | $(85,905) | $484,577 | $2,411 | ||
Net realized gain (loss) | 70,590 | (2,029,580) | 100,445 | ||
Net change in unrealized appreciation/depreciation | (3,867,057) | 2,598,922 | 116,030 | ||
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS | (3,882,372) | 1,053,919 | 218,886 | ||
DISTRIBUTIONS TO SHAREHOLDERS | |||||
Distributions to Shareholders | — | (484,945) | — | ||
INCREASE (DECREASE) IN NET ASSETS FROM SHARE TRANSACTIONS: | |||||
Proceeds from Shares Sold | 4,048,280 | 88,308,024 | 18,582,641 | ||
Cost of Shares Redeemed | (3,967,526) | (43,349,934) | (3,747,628) | ||
INCREASE (DECREASE) IN NET ASSETS FROM SHARE TRANSACTIONS: | 80,754 | 44,958,090 | 14,835,013 | ||
NET INCREASE (DECREASE) IN NET ASSETS DURING THE PERIOD | (3,801,618) | 45,527,064 | 15,053,899 | ||
NET ASSETS AT BEGINNING OF PERIOD | 45,527,064 | — | — | ||
NET ASSETS AT END OF PERIOD | $41,725,446 | $45,527,064 | $15,053,899 | ||
SHARE TRANSACTIONS: | |||||
Shares sold | 100,000 | 2,200,000 | 500,000 | ||
Shares redeemed | (100,000) | (1,100,000) | (100,000) | ||
NET INCREASE | — | 1,100,000 | 400,000 |
(a) | Fund commenced operations on June 15, 2021. |
(b) | Fund commenced operations on June 14, 2022. |
Syntax Stratified LargeCap ETF | |||||||
Six Months Ended 6/30/22 (Unaudited) | Year Ended 12/31/21 | Year Ended 12/31/20 | For the Period 1/2/19(a) to 12/31/19 | ||||
Net asset value, beginning of period | $71.27 | $55.99 | $50.73 | $40.00 | |||
Income (loss) from investment operations: | |||||||
Net investment income (loss)(b) | 0.54 | 0.92 | 0.88 | 0.84 | |||
Net realized and unrealized gain (loss) | (11.11) | 15.14 | 5.29 | 10.68 | |||
Total from investment operations | (10.57) | 16.06 | 6.17 | 11.52 | |||
Contribution from Sub-Adviser | 0.08 | — | — | — | |||
Less Distributions from: | |||||||
Net investment income | — | (0.78) | (0.82) | (0.79) | |||
Net realized gains | — | — | (0.09) | — | |||
Net asset value, end of period | $60.78 | $71.27 | $55.99 | $50.73 | |||
Total return(c) | (14.71)%(d),(e) | 28.76% | 12.18% | 28.81%(e) | |||
Ratios and Supplemental Data: | |||||||
Net assets, end of period (000s) | $94,215 | $108,685 | $41,989 | $62,149 | |||
Ratios to average net assets: | |||||||
Total expenses | 0.45%(f) | 0.45% | 0.45% | 0.80%(f) | |||
Net expenses(g) | 0.30%(f) | 0.30% | 0.30% | 0.30%(f) | |||
Net investment income (loss)(g) | 1.63%(f) | 1.39% | 1.83% | 1.80%(f) | |||
Portfolio turnover rate(h) | 18%(e) | 25% | 36% | 34%(e) |
(a) | Fund commenced operations on January 2, 2019. |
(b) | Per Share numbers have been calculated using the average shares method. |
(c) | Total return is calculated assuming a purchase of Shares at net asset value per Share on the first day and a sale at net asset value per Share on the last day of each period reported. Distributions are assumed, for the purposes of this calculation, to be reinvested at the net asset value per Share on the respective payment dates of the Fund. Total return for a period of less than one year is not annualized. Broker commission charges are not included in this calculation. Past performance is no guarantee of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. |
(d) | If the Sub-Adviser had not made a contribution during the period ended June 30, 2022, the total return would have been (14.82)%. |
(e) | Not annualized. |
(f) | Annualized. |
(g) | Net of expenses waived/reimbursed by the Advisor. |
(h) | Portfolio turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions of Shares. |
Syntax Stratified MidCap ETF | |||||
Six Months Ended 6/30/22 (Unaudited) | Year Ended 12/31/21 | For the Period 1/16/20(a) to 12/31/20 | |||
Net asset value, beginning of period | $40.72 | $34.21 | $30.00 | ||
Income (loss) from investment operations: | |||||
Net investment income (loss)(b) | 0.18 | 0.31 | 0.29 | ||
Net realized and unrealized gain (loss) | (7.64) | 7.14 | 4.22 | ||
Total from investment operations | (7.46) | 7.45 | 4.51 | ||
Less Distributions from: | |||||
Net investment income | — | (0.28) | (0.30) | ||
Net realized gains | — | (0.66) | — | ||
Net asset value, end of period | $33.26 | $40.72 | $34.21 | ||
Total return(c) | (18.33)%(d) | 21.95% | 15.04%(d) | ||
Ratios and Supplemental Data: | |||||
Net assets, end of period (000s) | $9,146 | $10,181 | $3,421 | ||
Ratios to average net assets: | |||||
Total expenses | 0.45%(e) | 0.45% | 0.45%(e) | ||
Net expenses(f) | 0.35%(e) | 0.34% | 0.30%(e) | ||
Net investment income (loss)(f) | 1.00%(e) | 0.77% | 1.10%(e) | ||
Portfolio turnover rate(g) | 22%(d) | 50% | 52%(d) |
(a) | Fund commenced operations on January 16, 2020. |
(b) | Per Share numbers have been calculated using the average shares method. |
(c) | Total return is calculated assuming a purchase of Shares at net asset value per Share on the first day and a sale at net asset value per Share on the last day of each period reported. Distributions are assumed, for the purposes of this calculation, to be reinvested at the net asset value per Share on the respective payment dates of the Fund. Total return for a period of less than one year is not annualized. Broker commission charges are not included in this calculation. Past performance is no guarantee of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. |
(d) | Not annualized. |
(e) | Annualized. |
(f) | Net of expenses waived/reimbursed by the Advisor. |
(g) | Portfolio turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions of Shares. |
Syntax Stratified SmallCap ETF | |||||
Six Months Ended 6/30/22 (Unaudited) | Year Ended 12/31/21 | For the Period 5/28/20(a) to 12/31/20 | |||
Net asset value, beginning of period | $50.38 | $43.07 | $30.00 | ||
Income (loss) from investment operations: | |||||
Net investment income (loss)(b) | 0.21 | 0.45 | 0.20 | ||
Net realized and unrealized gain (loss) | (10.60) | 10.44 | 13.24 | ||
Total from investment operations | (10.39) | 10.89 | 13.44 | ||
Contribution from Sub-Adviser | 0.06 | — | — | ||
Less Distributions from: | |||||
Net investment income | — | (0.47) | (0.19) | ||
Net realized gains | — | (3.11) | (0.18) | ||
Net asset value, end of period | $40.05 | $50.38 | $43.07 | ||
Total return(c) | (20.50)%(d),(e) | 25.72% | 44.82%(e) | ||
Ratios and Supplemental Data: | |||||
Net assets, end of period (000s) | $17,022 | $21,410 | $17,226 | ||
Ratios to average net assets: | |||||
Total expenses | 0.45%(f) | 0.45% | 0.45%(f) | ||
Net expenses(g) | 0.40%(f) | 0.37% | 0.30%(f) | ||
Net investment income (loss)(g) | 0.92%(f) | 0.87% | 0.93%(f) | ||
Portfolio turnover rate(h) | 27%(e) | 40% | 40%(e) |
(a) | Fund commenced operations on May 28, 2020. |
(b) | Per Share numbers have been calculated using the average shares method. |
(c) | Total return is calculated assuming a purchase of Shares at net asset value per Share on the first day and a sale at net asset value per Share on the last day of each period reported. Distributions are assumed, for the purposes of this calculation, to be reinvested at the net asset value per Share on the respective payment dates of the Fund. Total return for a period of less than one year is not annualized. Broker commission charges are not included in this calculation. Past performance is no guarantee of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. |
(d) | If the Sub-Adviser had not made a contribution during the period ended June 30, 2022, the total return would have been (20.62)%. |
(e) | Not annualized. |
(f) | Annualized. |
(g) | Net of expenses waived/reimbursed by the Advisor. |
(h) | Portfolio turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions of Shares. |
Syntax Stratified U.S. Total Market ETF | |||
Six Months Ended 6/30/22 (Unaudited) | For the Period 3/18/21(a) to 12/31/21 | ||
Net asset value, beginning of period | $45.42 | $40.00 | |
Income (loss) from investment operations: | |||
Net investment income (loss)(b) | (0.01) | 0.56 | |
Net realized and unrealized gain (loss) | (7.09) | 5.52 | |
Total from investment operations | (7.10) | 6.08 | |
Net investment income | — | (0.62) | |
Net realized gains | — | (0.04) | |
Net asset value, end of period | $38.32 | $45.42 | |
Total return(c) | (15.63)%(d) | 15.20%(d) | |
Ratios and Supplemental Data: | |||
Net assets, end of period (000s) | $6,706 | $17,032 | |
Ratios to average net assets: | |||
Total expenses | 0.75%(e) | 0.76%(e) | |
Net expenses(f) | 0.04%(e) | 0.05%(e) | |
Net investment income (loss)(f) | (0.04)%(e) | 1.64%(e) | |
Portfolio turnover rate(g) | 0%(d),(h) | 2%(d) |
(a) | Fund commenced operations on March 18, 2021. |
(b) | Per Share numbers have been calculated using the average shares method. |
(c) | Total return is calculated assuming a purchase of Shares at net asset value per Share on the first day and a sale at net asset value per Share on the last day of each period reported. Distributions are assumed, for the purposes of this calculation, to be reinvested at the net asset value per Share on the respective payment dates of the Fund. Total return for a period of less than one year is not annualized. Broker commission charges are not included in this calculation. Past performance is no guarantee of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. |
(d) | Not annualized. |
(e) | Annualized. |
(f) | Net of expenses waived/reimbursed by the Advisor. |
(g) | Portfolio turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions of Shares. |
(h) | Amount is less than 0.5%. |
Syntax Stratified U.S. Total Market Hedged ETF | |||
Six Months Ended 6/30/22 (Unaudited) | For the Period 6/15/21(a) to 12/31/21 | ||
Net asset value, beginning of period | $41.39 | $40.40 | |
Income (loss) from investment operations: | |||
Net investment income (loss)(b) | (0.08) | 0.43 | |
Net realized and unrealized gain (loss) | (3.38) | 1.00(c) | |
Total from investment operations | (3.46) | 1.43 | |
Net investment income | — | (0.44) | |
Net asset value, end of period | $37.93 | $41.39 | |
Total return(d) | (8.35)%(e) | 3.54%(e) | |
Ratios and Supplemental Data: | |||
Net assets, end of period (000s) | $41,725 | $45,527 | |
Ratios to average net assets: | |||
Total expenses | 1.00%(f) | 1.00%(f) | |
Net expenses(g) | 0.38%(f) | 0.38%(f) | |
Net investment income (loss)(g) | (0.38)%(f) | 1.96%(f) | |
Portfolio turnover rate(h) | 2%(e) | 88%(e) |
(a) | Fund commenced operations on June 15, 2021. |
(b) | Per Share numbers have been calculated using the average shares method. |
(c) | As required by SEC standard per share data calculation methodology, this represents a balancing figure derived from the other amounts in the financial highlights table that captures all other changes affecting net asset value per share. This per share gain or loss amount does not correlate to the aggregate of the net realized and unrealized gain or loss in the Statements of Operations for the year ended December 31, 2021, primarily due to the timing of sales and repurchases of the Fund’s shares in relation to fluctuating market values of the Fund’s portfolio. |
(d) | Total return is calculated assuming a purchase of Shares at net asset value per Share on the first day and a sale at net asset value per Share on the last day of each period reported. Distributions are assumed, for the purposes of this calculation, to be reinvested at the net asset value per Share on the respective payment dates of the Fund. Total return for a period of less than one year is not annualized. Broker commission charges are not included in this calculation. Past performance is no guarantee of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. |
(e) | Not annualized. |
(f) | Annualized. |
(g) | Net of expenses waived/reimbursed by the Advisor. |
(h) | Portfolio turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions of Shares. |
Syntax Stratified Total Market II ETF | |
For the Period 6/14/22(a) to 6/30/22 (Unaudited) | |
Net asset value, beginning of period | $37.04 |
Income (loss) from investment operations: | |
Net investment income (loss)(b) | 0.01 |
Net realized and unrealized gain (loss) | 0.58 |
Total from investment operations | 0.59 |
Net asset value, end of period | $37.63 |
Total return(c) | 1.60%(d) |
Ratios and Supplemental Data: | |
Net assets, end of period (000s) | $15,054 |
Ratios to average net assets: | |
Total expenses | 0.75%(e) |
Net expenses(f) | 0.19%(e) |
Net investment income (loss)(f) | 0.44%(e) |
Portfolio turnover rate(g) | 8%(d) |
(a) | Fund commenced operations on June 14, 2022. |
(b) | Per Share numbers have been calculated using the average shares method. |
(c) | Total return is calculated assuming a purchase of Shares at net asset value per Share on the first day and a sale at net asset value per Share on the last day of each period reported. Distributions are assumed, for the purposes of this calculation, to be reinvested at the net asset value per Share on the respective payment dates of the Fund. Total return for a period of less than one year is not annualized. Broker commission charges are not included in this calculation. Past performance is no guarantee of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. |
(d) | Not annualized. |
(e) | Annualized. |
(f) | Net of expenses waived/reimbursed by the Advisor. |
(g) | Portfolio turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions of Shares. |
Fund | Underlying Index | |
Syntax Stratified LargeCap ETF | Syntax Stratified LargeCap Index | |
Syntax Stratified MidCap ETF | Syntax Stratified MidCap Index | |
Syntax Stratified SmallCap ETF | Syntax Stratified SmallCap Index |
Initial Market Value of Securities acquired by Fund | Cost Basis | Unrealized Gain (Loss) | |||
Syntax Stratified LargeCap ETF | $33,554,457 | $35,543,619 | (1,989,162) | ||
Syntax Stratified MidCap ETF | 2,785,553 | 2,336,742 | 448,811 | ||
Syntax Stratified SmallCap ETF | 11,391,517 | 10,089,586 | 1,301,931 |
• | Level 1 — Quoted prices in active markets for identical investments |
• | Level 2 — Other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.) |
• | Level 3 — Significant unobservable inputs (including a fund’s own assumptions in determining the fair value of investments) |
Description | Level 1 | Level 2 | Level 3 | Total |
Syntax Stratified LargeCap ETF | ||||
INVESTMENTS: | ||||
Common Stock | $93,965,922 | $— | $— | $93,965,922 |
Total | $93,965,922 | $— | $— | $93,965,922 |
Syntax Stratified MidCap ETF | ||||
INVESTMENTS: | ||||
Common Stock | $9,133,580 | $— | $— | $9,133,580 |
Total | $9,133,580 | $— | $— | $9,133,580 |
Syntax Stratified SmallCap ETF | ||||
INVESTMENTS: | ||||
Common Stock | $16,991,776 | $— | $— | $16,991,776 |
Total | $16,991,776 | $— | $— | $16,991,776 |
Syntax Stratified U.S. Total Market ETF | ||||
INVESTMENTS: | ||||
Exchange-Traded Funds | $6,702,426 | $— | $— | $6,702,426 |
Total | $6,702,426 | $— | $— | $6,702,426 |
Syntax Stratified U.S. Total Market Hedged ETF | ||||
INVESTMENTS: | ||||
Exchange-Traded Funds | $34,134,405 | $— | $— | $34,134,405 |
Purchased Options | $7,583,094 | $— | $— | $7,583,094 |
Total | $41,717,499 | $— | $— | $41,717,499 |
OTHER FINANCIAL INSTRUMENTS: | ||||
Written Options | $(77,964) | $— | $— | $(77,964) |
Total | $(77,964) | $— | $— | $(77,964) |
Syntax Stratified Total Market II ETF | ||||
INVESTMENTS: | ||||
Exchange-Traded Funds | $15,037,931 | $— | $— | $15,037,931 |
Total | $15,037,931 | $— | $— | $15,037,931 |
Tax Cost | Gross Unrealized Appreciation | Gross Unrealized Depreciation | Net Unrealized Appreciation (Depreciation) | ||||
Syntax Stratified LargeCap ETF | $97,778,227 | $4,998,734 | (8,811,039) | (3,812,305) | |||
Syntax Stratified MidCap ETF | 9,416,528 | 769,694 | (1,052,642) | (282,948) | |||
Syntax Stratified SmallCap ETF | 17,234,598 | 2,084,594 | (2,327,416) | (242,822) | |||
Syntax Stratified U.S. Total Market ETF | 7,012,568 | — | (310,142) | (310,142) | |||
Syntax Stratified U.S. Total Market Hedged ETF | 43,309,007 | 2,740,203 | (4,008,338) | (1,268,135) | |||
Syntax Stratified Total Market II ETF | 14,921,901 | 116,030 | — | 116,030 |
Asset Derivatives | ||||
Location | Equity Contracts | Total | ||
Purchased options: | ||||
Investments in securities of unaffiliated issuers | $7,583,094 | $7,583,094 | ||
Total | $7,583,094 | $7,583,094 |
Liability Derivatives | ||||
Location | Equity Contracts | Total | ||
Written options: | ||||
Written options, at value | $(77,964) | $(77,964) | ||
Total | $(77,964) | $(77,964) |
Realized Gain (Loss) on Derivative Instruments | ||||
Location | Equity Contracts | Total | ||
Purchased options | $(5,894) | $(5,894) | ||
Written options | $19,920 | $19,920 | ||
Total | $14,026 | $14,026 |
Change in Unrealized Appreciation (Depreciation) on Derivative Instruments | ||||
Location | Equity Contracts | Total | ||
Purchased options | $2,196,720 | $2,196,720 | ||
Written options | $451,295 | $451,295 | ||
Total | $2,648,015 | $2,648,015 |
Options: | |
Average value of option contracts purchased | $6,103,001 |
Average value of option contracts written | (288,489) |
Purchases | Sales | ||
Syntax Stratified LargeCap ETF | $18,805,868 | $17,941,624 | |
Syntax Stratified MidCap ETF | 2,162,407 | 2,093,440 | |
Syntax Stratified SmallCap ETF | 5,167,877 | 5,256,913 | |
Syntax Stratified U.S. Total Market ETF | 68,150 | 36,936 | |
Syntax Stratified U.S. Total Market Hedged ETF | 803,711 | 1,025,207 | |
Syntax Stratified Total Market II ETF | 12,084,681 | 1,249,521 |
In-kind Contributions | In-kind Redemptions | ||
Syntax Stratified LargeCap ETF | $23,641,828 | $23,100,897 | |
Syntax Stratified MidCap ETF | 821,040 | — | |
Syntax Stratified SmallCap ETF | 1,186,716 | 973,590 | |
Syntax Stratified U.S. Total Market ETF | — | 8,466,588 | |
Syntax Stratified U.S. Total Market Hedged ETF | 3,706,513 | 3,432,738 | |
Syntax Stratified Total Market II ETF | 7,922,326 | 3,935,977 |
Annual Rate | |
Syntax Stratified LargeCap ETF | 0.45% |
Syntax Stratified MidCap ETF | 0.45% |
Syntax Stratified SmallCap ETF | 0.45% |
Syntax Stratified U.S. Total Market ETF | 0.75% |
Syntax Stratified U.S. Total Market Hedged ETF | 1.00% |
Syntax Stratified Total Market II ETF | 0.75% |
Expense Limit | |
Syntax Stratified LargeCap ETF | 0.30% |
Syntax Stratified MidCap ETF | 0.35% |
Syntax Stratified SmallCap ETF | 0.40% |
Syntax Stratified U.S. Total Market ETF | 0.35% |
Syntax Stratified U.S. Total Market Hedged ETF | 0.65% |
Syntax Stratified Total Market II ETF | 0.35% |
Expenses Waived and Reimbursed | |
Syntax Stratified LargeCap ETF | $73,391 |
Syntax Stratified MidCap ETF | 4,627 |
Syntax Stratified SmallCap ETF | 4,772 |
Syntax Stratified U.S. Total Market ETF | 22,484 |
Syntax Stratified U.S. Total Market Hedged ETF | 78,618 |
Syntax Stratified Total Market II ETF | 2,202 |
2022 | 2023 | 2024 | 2025 | ||||
Syntax Stratified LargeCap ETF | $136,922 | $47,244 | $120,877 | $73,391 | |||
Syntax Stratified MidCap ETF | — | 3,931 | 9,028 | 4,627 | |||
Syntax Stratified SmallCap ETF | — | 11,425 | 17,104 | 4,772 | |||
Syntax Stratified U.S. Total Market ETF | — | — | 58,102 | 22,484 | |||
Syntax Stratified U.S. Total Market Hedged ETF | — | — | 86,619 | 78,618 | |||
Syntax Stratified Total Market II ETF | — | — | — | 2,202 |
Actual | Hypothetical (assuming a 5% return before expenses) | ||||||||
Annualized Expense Ratio | Ending Account Value | Expenses Paid During Period | Ending Account Value | Expenses Paid During Period(a) | |||||
Syntax Stratified LargeCap ETF | 0.30% | $852.90 | $1.38 | $1,023.30 | $1.51 |
(a) | Expenses are equal to the Fund's annualized net expense ratio multiplied by the average account value of the period, multiplied by 181 for the Fund and the Hypothetical numbers shown, then divided by 365. |
Actual | Hypothetical (assuming a 5% return before expenses) | ||||||||
Annualized Expense Ratio | Ending Account Value | Expenses Paid During Period | Ending Account Value | Expenses Paid During Period(a) | |||||
Syntax Stratified MidCap ETF | 0.35% | $816.70 | $1.58 | $1,023.10 | $1.76 |
(a) | Expenses are equal to the Fund's annualized net expense ratio multiplied by the average account value of the period, multiplied by 181 for the Fund and the Hypothetical numbers shown, then divided by 365. |
Actual | Hypothetical (assuming a 5% return before expenses) | ||||||||
Annualized Expense Ratio | Ending Account Value | Expenses Paid During Period | Ending Account Value | Expenses Paid During Period(a) | |||||
Syntax Stratified SmallCap ETF | 0.40% | $795.00 | $1.78 | $1,022.80 | $2.01 |
(a) | Expenses are equal to the Fund's annualized net expense ratio multiplied by the average account value of the period, multiplied by 181 for the Fund and the Hypothetical numbers shown, then divided by 365. |
Actual | Hypothetical (assuming a 5% return before expenses) | ||||||||
Annualized Expense Ratio | Ending Account Value | Expenses Paid During Period | Ending Account Value | Expenses Paid During Period(a) | |||||
Syntax Stratified U.S. Total Market ETF | 0.04% | $843.70 | $0.18 | $1,024.60 | $0.20 |
(a) | Expenses are equal to the Fund's annualized net expense ratio multiplied by the average account value of the period, multiplied by 181 for the Fund and the Hypothetical numbers shown, then divided by 365. |
Actual | Hypothetical (assuming a 5% return before expenses) | ||||||||
Annualized Expense Ratio | Ending Account Value | Expenses Paid During Period | Ending Account Value | Expenses Paid During Period(a) | |||||
Syntax Stratified U.S. Total Market Hedged ETF | 0.38% | $916.50 | $1.81 | $1,022.90 | $1.91 |
(a) | Expenses are equal to the Fund's annualized net expense ratio multiplied by the average account value of the period, multiplied by 181 for the Fund and the Hypothetical numbers shown, then divided by 365. |
Actual | Hypothetical (assuming a 5% return before expenses) | ||||||||
Annualized Expense Ratio | Ending Account Value | Expenses Paid During Period | Ending Account Value | Expenses Paid During Period(a) | |||||
Syntax Stratified Total Market II ETF | 0.19% | $1,016.00 | $0.08 | $1,023.90 | $0.95 |
(a) | Expenses are equal to the Fund's annualized net expense ratio multiplied by the average account value of the period, multiplied by 16 and 181 for the Fund and the Hypothetical numbers shown, then divided by 365. |
One Liberty Plaza 46th FI.
New York, NY 10006
One Lincoln Street
Boston, MA 02111
Three Canal Plaza, Suite 100
Portland, ME 04101
1350 Euclid Ave., Suite 800
Cleveland, OH 44115
Item 2: | Code of Ethics. |
Not applicable for semi-annual reports
Item 3: | Audit Committee Financial Experts. |
Not applicable for semi-annual reports.
Item 4: | Principal Accountant Fees and Services. |
Not applicable for semi-annual reports.
Item 5: | Audit Committee of Listed Registrants. |
Not applicable for semi-annual reports.
Item 6: | Schedule of Investments. |
(a) | The schedules of investments are included in the Semi-Annual Report to shareholders filed under Item 1 of this Form N-CSR. |
(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 shareholders may recommend nominees to the Registrant’s Board of Trustees that have been implemented since the Registrant last provided disclosure in response to the requirements of this Item.
Item 11: | Controls and Procedures. |
(a) | The Registrant’s principal executive officer and principal financial officer evaluated the Registrant’s disclosure controls and procedures within 90 days of this filing and 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”)) are appropriately designed to ensure that information required to be disclosed by the Registrant in the reports that it files on Form N-CSR (a) is accumulated and communicated to Registrant's management, including its principal executive officer and principal financial officer, to allow timely decisions regarding required disclosure, and (b) is recorded, processed, summarized and reported, within the time periods specified in the rules and forms adopted by the U.S. Securities and Exchange Commission. |
(b) | The Registrant’s principal executive officer and principal financial officer are aware of no change in the Registrant’s internal control over financial reporting that occurred during the Registrant’s most recent fiscal half-year that has materially affected, or is reasonably likely to materially affect, the Registrant’s internal control over financial reporting. |
Item 12: | Disclosure of Securities Lending Activities for Closed-End Management Investment Companies. |
Not Applicable
Item 13: | Exhibits. |
(a)(1) | Any code of ethics, or amendment thereto, that is the subject of the disclosure required by Item 2, to the extent that the registrant intends to satisfy the Item 2 requirements through filing of an exhibit. Not applicable. |
(a)(2) | Certifications pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. Separate certifications for Registrant's principal executive officer and principal financial officer, as required by Rule 30a-2(a) under the 1940 Act, are attached. |
(a)(3) | Any written solicitation to purchase securities under Rule 23c 1 under the Act sent or given during the period covered by the report by or on behalf of the registrant to 10 or more persons. Not applicable. |
(a)(4) | Change in the registrant’s independent registered public accounting firm. Not applicable. |
(b) | Certification pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. A certification for Registrant's principal executive officer and principal financial officer, as required by Rule 30a-2(b) under the 1940 Act, is attached. The certification furnished pursuant to this paragraph is not deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, or otherwise subject to liability of that section. Such certification is not deemed to be incorporated by reference into any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934, except to the extent that the Registrant specifically incorporates it by reference. |
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.
Syntax ETF Trust | ||
(Registrant) | ||
By: | /s/ Rory Riggs | |
Rory Riggs | ||
CEO | ||
(Principal Executive Officer) | ||
Date: | September 2, 2022 |
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: | /s/ Rory Riggs | ||
Rory Riggs | |||
CEO | |||
(Principal Executive Officer) | |||
Date: | September 2, 2022 | ||
By: | /s/ David Jaffin | ||
David Jaffin | |||
Treasurer | |||
(Principal Financial Officer) | |||
Date: | September 2, 2022 |
EXHIBIT INDEX