DYLD ETF — Holdings & Analysis

The LeaderShares Dynamic Yield ETF (DYLD) is an actively managed fixed income ETF with $0.04 billion in assets under management and an expense ratio of 0.75%. DYLD seeks current income by employing a top-down investment process driven by a quantitative model that assesses the risk-reward of various bond market sectors and segments. The fund's strategy incorporates fundamental and technical inputs to identify attractive opportunities, differentiating it from passively managed fixed income ETFs. Past performance does not guarantee future results.

The LeaderShares Dynamic Yield ETF seeks current income. The Fund is an actively managed exchange traded fund (“ETF”) that employs a top-down investment process driven by a quantitative model process that incorporates various fundamental and technical inputs to help the Adviser determine the most attractive sectors and segments of the bond market from a risk-reward perspective.

The LeaderShares Dynamic Yield ETF (DYLD) aims to generate current income through active management within the fixed income market. The fund utilizes a quantitative model to identify attractive sectors and segments based on risk-reward considerations. This top-down approach incorporates both fundamental and technical factors to guide investment decisions. As an actively managed fund, DYLD's portfolio composition can shift based on the adviser's assessment of market conditions. Currently, DYLD has a significant allocation to Cash & Others, representing 100% of the portfolio. Geographically, the fund has a strong focus on the United States, with 94.4% exposure, followed by smaller allocations to Other (3.0%), United Kingdom (1.0%), Canada (0.8%), and Cayman Islands (0.3%). With only 10 holdings, DYLD's portfolio is relatively concentrated, reflecting its active management style. This approach distinguishes DYLD from more diversified, passively managed fixed income ETFs that track broad market indices. Past performance does not guarantee future results.

DYLD's active management and concentrated portfolio of 10 holdings introduce specific risks. The high allocation to Cash & Others (100%) may limit potential returns in rising rate environments, as cash positions typically offer lower yields than bonds. The fund's beta of 0.56 indicates lower volatility compared to the overall market, but active management decisions could still lead to underperformance relative to benchmarks. The expense ratio of 0.75% is higher than passively managed fixed income ETFs, creating a performance hurdle. The fund's smaller AUM of $0.04 billion may present liquidity risks. The concentration in United States (94.4%) exposes the fund to specific economic and political risks within that country. Investors should carefully consider these factors before investing in DYLD. Past performance does not guarantee future results.

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