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BARRON’S 400 ETF
SM
Quarterly Scorecard – 1st Quarter 2017
WHAT’S INSIDE
PERFORMANCE & CHARACTERISTICS:
ETF Stats
Ticker
BFOR
Listing Exchange
NYSE Arca
Cusip
00162Q726
Inception Date
06/03/2013
Net Asset Value*
Last Annual Distribution**
$36.64
$0.2736
Last Payable Date
12/29/16
Dividends Paid
Annually
Shares Outstanding
0.65%
Other Expenses
0.00%
Total Operating Expenses
0.65%
* As of 3/31/17
** Dividend Paid on 12/29/16
Investment Objective
The Fund seeks investment results that
correspond generally, before fees and
expenses, to the performance of the
Barron’s 400 IndexSM (the “Underlying
Index”).
www.alpsfunds.com
[email protected]
BFOR
SECTOR ANALYSIS:
The top performing sector in BFOR for Q1 2017 was Healthcare (+10.30%). The
worst performing sector was Real Estate (-2.74%), followed by Financials (-0.76%).
CONSTITUENT ANALYSIS:
•
•
5.30 Million
Management Fee
Contact Info
At the conclusion of Q1 2017, the Barron’s 400 ETF (BFOR) closed at $36.64, up 4.57%
for the quarter, trailing the S&P 500’s (SPX) gain of 6.07%.
For the quarter, total return was positive for 326 underlying names, and negative
for 237.
The top performing security was National Beverage Corp (FIZZ US), with a return
of +65.49%, while the worst performer was Sportsman’s Warehouse Holdings
(SPWH US), which posted a return of -51.44%.
PERFORMANCE as of 3/31/2017
1
Total Returns
Month
Barron’s 400SM ETF (NAV)2 0.74%
Barron’s 400SM ETF
0.71%
(Market Price)3
3
6
Month Month
Barron’s 400 IndexSM
(Benchmark)
0.80%
YTD
1
Year
3
Year
Since
Inception1
4.57% 14.32%
4.57%
22.07%
7.33%
11.24%
4.54% 14.36%
4.54%
22.07%
7.27%
11.23%
4.72% 14.68%
4.72%
22.88%
8.05%
12.01%
Performance data quoted represents past performance. Past performance does not guarantee
future results. Current performance may be higher or lower than actual data quoted. Call
1.855.724.0450 or visit www.barrons400etf.com for current month end performance. 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.
Fund inception date of 06/03/2013.
NAV is an exchange-traded fund’s (ETF) per-share value. The per-share dollar amount of
the fund is derived by dividing the total value of all the securities in its portfolio, less any
liabilities, by the number of fund shares outstanding.
3
Market Price is based on the midpoint of the bid/ask spread at 4 p.m. ET and does not
represent the returns an investor would receive if shares were traded at other times.
1
2
barrons400etf.com | 1.855.724.0450
PERFORMANCE
BFOR Performance 1 Year (NAV)
$40
3/1/17
High – $37.03
$35
$30
6/27/16
Low – $28.77
BFOR NAV
/1
31
0/
12
3/
/3
30
9/
50 Day Moving Average
7
16
6
/1
6
/1
30
6/
3/
31
/1
6
$25
100 Day Moving Average
Source: Bloomberg NAV returns as of 3/31/17. Past performance is not indicative of future results.
INDEX CHARACTERISTICS
Fundamentals & Risk
Description
Price to Earnings Ratio
Price to Earnings Ratio using FY1 Est
Price to Earnings Ratio using FY2 Est
Price to Book Ratio
Price to Sales Ratio
Price to Cash Flow Ratio
Beta
Volatility
B400 S&P 400
20.40
22.28
17.62
19.00
15.75
17.21
3.51
2.42
1.99
1.38
12.68
11.31
1.09
13.04% 12.10%
Bloomberg Data as of 3/31/17. Beta is to the S&P 400 Index.
Profile
Dividend Yield
Max Market Cap (Million $)
Min Market Cap (Million $)
Total Market Cap (Agg, Million $)
Weighted Avg. Market Cap ( Agg, Million $)
Market Cap Breakdown
Large Cap
Mid Cap
Small Cap
$
$
$
$
B400
1.28%
753,717
271
7,224,105
17,864
B400
23.08%
41.65%
35.27%
S&P 400
1.69%
$
10,195
$
1,433
$ 1,742,839
$
5,319
S&P 400
0.62%
95.89%
3.49%
ALLOCATIONS
Geography
Sector
Market Cap
U.S. - 100.00%
Consumer Discretionary - 21.49%
Information Technology - 21.19%
Financials - 18.17%
Industrials - 13.66%
Health Care - 12.44%
Materials - 5.52%
Energy - 3.76%
Consumer Staples - 3.26%
Utilities - 0.51%
Large - 23.08%
Mid - 41.65%
Small - 35.27%
Subject to change.
GICS SECTOR ATTRIBUTION - Q1 2017
Overall, sector allocation effect was positive for the period, with the largest positive impact coming from a relative overweight to
Healthcare and a relative underweight to Real Estate. The fund was adversely impacted by relative underweights to Materials and
Utilities. Selection effect was also moderately positive for the quarter, as the fund saw the largest outperformance from its Energy
and Consumer Discretionary names, which more than offset the adverse performance impact the fund saw from its names in
Financials and Materials.
Avg % Wgt
Consumer
Discretionary
Consumer Staples
Energy
Financials
Health Care
Industrials
Information
Technology
Materials
Real Estate
Telecommunication
Services
Utilities
Totals
Contribution to Return
Total Return
Total
Allocation Selection
Attribution
Effect
Effect
B400
S&P 400
+/-
B400
S&P 400
+/-
B400
S&P 400
+/-
19.74
3.43
3.51
20.75
12.98
15.43
11.23
4.30
3.67
16.89
7.51
14.83
8.51
-0.87
-0.15
3.86
5.47
0.60
1.21
0.11
0.29
-0.09
1.29
0.42
0.51
0.10
-0.56
0.38
0.69
0.50
0.71
0.01
0.85
-0.47
0.60
-0.08
6.19
3.19
8.55
-0.78
10.26
2.51
4.54
2.29
-14.01
2.18
9.64
3.33
1.64
0.90
22.56
-2.97
0.62
-0.83
0.39
0.03
0.89
-0.67
0.38
-0.13
0.07
0.00
0.05
-0.01
0.32
0.00
0.32
0.03
0.83
-0.65
0.06
-0.14
17.95
4.68
0.48
18.04
7.82
10.21
-0.09
-3.14
-9.73
1.46
0.01
-0.02
1.30
0.60
0.16
0.15
-0.59
-0.18
8.43
0.31
-2.74
7.32
7.95
1.49
1.11
-7.64
-4.24
0.20
-0.47
0.23
-0.03
-0.12
0.25
0.23
-0.35
-0.02
0.56
0.49
0.19
5.33
0.37
-4.84
0.01
0.05
-0.04
0.30
0.04
-0.25
1.50
9.97
-14.56
5.66
16.06
4.31
0.02
-0.06
0.80
-0.02
-0.08
0.43
0.04
0.02
0.37
Past performance is not indicative of future results. Subject to change.
Bloomberg Data as of 3/31/17.
CONSTITUENT ANALYSIS - TOP AND BOTTOM 10
Total Return Dispersion - Q1 2017
NATIONAL BEVERAGE CORP (FIZZ US)
NUTRISYSTEM INC (NTRI US)
UNIVERSAL DISPLAY CORP (OLED US)
COHERENT INC (COHR US)
INCYTE CORP (INCY US) (-)
ORASURE TECHNOLOGIES INC (OSUR US)
HESKA CORP (HSKA US)
CYNOSURE INC-A (CYNO US) (-)
MASIMO CORP (MASI US)
ARISTA NETWORKS INC (ANET US)
HERITAGE INSURANCE HOLDINGS (HRTG US) (-)
AMPHASTAR PHARMACEUTICALS IN (AMPH US)
RUBICON PROJECT INC/THE (RUBI US) (-)
GIGAMON INC (GIMO US)
FIVE PRIME THERAPEUTICS INC (FPRX US) (-)
FITBIT INC - A (FIT US) (-)
DULUTH HOLDINGS INC - CL B (DLTH US) (-)
CATO CORP-CLASS A (CATO US) (-)
AMTRUST FINANCIAL SERVICES (AFSI US) (-)
SPORTSMAN'S WAREHOUSE HOLDIN (SPWH US) (-)
-60
-50
-40
-30
-20
Past performance is not indicative of future results. Subject to change.
Bloomberg Data as of 3/31/17.
-10
0
10
20
30
40
50
60
70
80
IMPORTANT DISCLOSURES & DEFINITIONS
An investor should consider the investment objectives, risks, charges and expenses carefully before investing. To obtain
a prospectus, which contain this and other information please contact your financial professional or call 1.855.724.0450.
Read the prospectus carefully before investing. There are risks involved with investing in ETFs including the loss of money.
Barron’s 400 ETF Shares are not individually redeemable. Investors buy and sell shares of the Barron’s 400 ETF on a
secondary market. Only market makers or “authorized participants” may trade directly with the Fund, typically in blocks
of 50000 shares.
There are risks involved with investing in ETFs including the loss of money. Additional information regarding the risks of this investment is
available in the prospectus.
The Fund is subject to the additional risks associated with concentrating its investments in companies in the market sector.
Diversification does not eliminate the risk of experiencing investment losses.
The Barron’s 400 IndexSM, calculated by NYSE Euronext or its affiliates, measures the performance of a diversified group of U.S. companies
selected in part based on fundamentals-related rules-based criteria. The index includes companies that have scored highest according to fundamentals-related rankings calculated by MarketGrader. Additional rules-based screening provides for sector and market cap
diversification. The Index has been licensed to MarketGrader Capital LLC for use with the Barron’s 400 IndexSM. You cannot invest directly
in an index.
The S&P 500® (Ticker: SPX) is an index of 500 stocks chosen for market size, liquidity and industry grouping among other factors.
Tracking error: a measure of how closely a portfolio follows the index to which it is benchmarked.
Volatility: A statistical measure of the dispersion of returns for a given security or market index and expressed as a percentage of the stock
price, indicating a standard deviation move over the course of a year.
Price to earnings ratio: an equity valuation multiple. It is defined as market price per share divided by annual earnings per share.
Price to book ratio: a financial ratio used to compare a company’s current market price to its book value. Beta: A measure of the volatility, or
systematic risk, of a security or a portfolio in comparison to the market as a whole.
Dividend yield: a dividend expressed as a percentage of a current share price.
Basis point: A unit that is equal to 1/100th of 1%, and is used to denote the change in a financial instrument.
Price to Cash Flow Ratio: A measure of the market’s expectations of a firm’s future financial health
Price to Sales Ratio: A ratio for valuing a stock relative to its own past performance, other companies or the market itself.
ALPS Portfolio Solutions Distributor, Inc. is the distributor for the Barron’s 400 ETF
BFOR
barrons400etf.com | 1.855.724.0450
BAR000169 7/31/17