ClearShares Ultra-Short Maturity ETF (OPER)
The ClearShares OPER ETF (the Fund) is an actively managed portfolio seeking current income by investing in repurchase “repo” agreements, collateralized by U.S. Government Securities and other fixed income instruments.
|Net Assets as of 07/19/2018||$20.01m|
|Primary Exchange||NYSE Arca|
|Fund Type||Ultra-Short Maturity|
|Investment Objective||Current Income Consistent with Capital Preservation|
|Management Fee||0. 30%|
|Acquired Fund Fee & Expenses||0.00%|
|Gross Expense Ratio||0.30%|
|Net Expense Ratio||0.30%|
|12 Month Trailing Yield||N/A|
|Standardized 30-Day Yields Subsidized||N/A|
|Standardized 30-Day Yields Unsubsidized||N/A|
|Net Asset Value (NAV)||OPER.IV|
Mark Hong, CFA
Eric Blasberg, CFA
|SEC Yield as of 07/11/2018||0.00%|
|Net Asset Value||$100.04||Closing Price||$100.03|
|Daily Change||$0.00||Daily Change||$0.00|
|Daily Change||0.00%||Daily Change||0.00%|
Data as of 07/19/2018
Data as of 07/19/2018
Month End Returns as of 07/31/2018
|(%)||1 MO.||3 MO.||1 YR.||3 YR.||SINCE INCEPTION|
Quarter End Returns as of 09/30/2018
|(%)||1 MO.||3 MO.||6 MO.||1 YR.||SINCE INCEPTION|
The performance data quoted represents past performance. Performance does not guarentee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted.
Returns are average annualized except for periods less than one year.
Annualized return is the average return gained or lost by an investment each year over a given time period. ClearShares Funds’ NAVs are calculated using prices as of 4:00 PM Eastern Time.
The closing market price is the Mid-Point between the Bid and Ask price as of the close of exchange. Since the Fund’s Shares typically do not trade in the secondary market until several days after the Fund’s inception, for the period from inception to the first day of secondary market trading in Shares, the NAV of the Fund is used to calculate market returns.
Top HoldingsFull Holdings
|Name||Identifier||Shares Held||Market Value ($)||Net Assets|
|24.99%||OPER REPO 072018 1.9%||OPER07208||5,000,000||5,000,000.00||20,007,960.00|
|24.99%||OPER REPO 072318 1.9% 07/23/18||OPER07238||5,000,000||5,000,000.00||20,007,960.00|
|24.99%||OPER REPO 072518 1.88%||OPER07258||5,000,000||5,000,000.00||20,007,960.00|
|24.99%||OPER REPO 072618 1.88%||OPER07268||5,000,000||5,000,000.00||20,007,960.00|
|0.04%||Cash & Other||Cash&Other||7,960||7,960.00||20,007,960.00|
Data as of 07/20/2018 Fund holdings and/or sector allocations are subject to change at any time and are not recommendations to buy or sell any security.
Past performance is not indicative of future results. References to efforts to mitigate or “control” risk reflect an effort to address risk, but do not mean that the portfolio risk can be completely controlled. All investment has risk, including the risk of loss of principal.
Investing involves risk, including the possible loss of principal. Shares of any ETF are bought and sold at market price (not NAV) and may trade at a discount or premium to NAV. Shares are not individually redeemable from the Fund and may be only be acquired or redeemed from the fund in creation units. Brokerage commissions will reduce returns. The Fund invests in fixed income securities, that involves certain risks including call risk, credit risk, event risk, extension risk, interest rate risk & prepayment risk. Repurchase agreements may be construed to be collateralized loans by the Fund, and if so, the underlying securities relating to the repurchase agreement will only constitute collateral for the seller’s obligation to pay the repurchase price. If the seller defaults on its obligation under the agreement, the Fund may suffer delays and incur costs or lose money in exercising its rights under the agreement. A seller failing to repurchase the security coupled with a decline in the market value of the security may result in the Fund losing money. The Fund may invest in repurchase agreements that are deemed illiquid due to having a term of more than seven days. Please refer to the prospectus for additional risks of investing in the fund.
Before investing you should carefully consider the Fund's investment objectives, risks, charges and expenses. This and other information is in the prospectus, a copy of which may be obtained by clicking here. Please read the prospectus carefully before you invest.
ClearShares LLC is the investment advisor to ClearShares OPER ETF. The ClearShares ETFs are distributed by Quasar Distributors, LLC.
Overnight Rate. The overnight rate is generally the interest rate that large banks use to borrow and lend from one another in the overnight market. In some countries (United Sates of America, for example), the overnight rate may be the rate targeted by the central bank to influence monetary policy.
Investment Company Risk. The risks of investing in investment companies, such as the Underlying Funds, typically reflect the risks of the types of instruments in which the investment companies invest. By investing in another investment company, the Fund becomes a shareholder of that investment company and bears its proportionate share of the fees and expenses of the other investment company. The Fund may be subject to statutory limits with respect to the amount it can invest in other ETFs, which may adversely affect the Fund’s ability to achieve its investment objective. Investments in ETFs are also subject to the following risks: (i) the market price of an ETF’s shares may trade above or below their net asset value (“NAV”); (ii) an active trading market for an ETF’s shares may not develop or be maintained; and (iii) trading of an ETF’s shares may be halted for a number of reasons.
Management Risk. The Fund is actively-managed and may not meet its investment objective based on the Adviser’s success or failure to implement investment strategies for the Fund.
New Fund Risk. The Fund is a recently organized, diversified management investment company with no operating history. As a result, prospective investors have no track record or history on which to base their investment decision. Additionally, the Adviser has not previously managed a registered investment company, which may increase the risks associated with investments in the Fund.