Features
Based on the recommendation of management, the DriveWealth ETF Trust’s Board of Trustees has unanimously determined that the continuation of the Fund is not in the best interests of the Fund or the Fund’s shareholders as a result of factors or events adversely affecting the Fund’s ability to conduct its business and operations in an economically viable manner. As a result, DriveAdvisory, LLC, a subsidiary of DriveWealth, LLC, announced the scheduled liquidation of the exchange traded fund DriveWealth NYSE 100 Index ETF (Ticker: CETF). As part of this decision, the Fund will stop accepting new orders on or about Monday, July 22, 2024. The Fund will cease trading at the end of the trading day on Monday, July 22, 2024. The Fund is expected to liquidate on or around Monday, July 29, 2024. For more information, please download the prospectus supplement or the Press Release Announcement.
The DriveWealth NYSE 100 Index ETF seeks to provide investment results that, before fees and expenses, track the performance of the NYSE DriveWealth 100 Index (the “Index”). The NYSE DriveWealth 100 Index is a rules-based, equal-weighted index that tracks the performance of U.S.-listed Exchange Traded Funds (ETFs). The Index selects the 100 top ETFs based on a methodology that ranks eligible funds according to size, liquidity and risk- adjusted return.
Benchmark
The NYSE DriveWealth 100 Index tracks the performance of all U.S.-listed Exchange Traded Funds (ETFs) across all issuers, sectors, asset classes and industry groups, and selects the 100 top ETFs based on a methodology that ranks eligible funds according to size, liquidity and risk-adjusted return. The Index undergoes a full reconstitution of constituent holdings quarterly.
The NYSE DriveWealth 100 Index will have an equal weighting of all 100 constituents at the beginning of every quarter when the fund will be rebalanced and reconstituted. Index selection will include the new constituents based on the momentum-based methodology. Eligible ETFs will be ranked and assessed based on the criteria of fees, total return over the past quarter, and volatility over the previous quarter. To get a full understanding of the methodology view the prospectus.
Criteria to be an eligible constituent are as follows:
- Fund must be listed on a U.S. exchange
- Fund must have at least $100m in assets
- Must not be a levered product
- The fund cannot be an inverse fund
- No Exchange traded notes will be included
- No ETFs of ETFs
- Volume must exceed $3m on a daily average
See important risk information at the bottom of the page.
Fund Information as of Oct 31, 2023
Listing Information as of Oct 31, 2023
Exchange | Listing Date | Trading Currency | Ticker | CUSIP | ISIN |
---|---|---|---|---|---|
NYSE | April 25, 2023 | USD | CETF | 26209c 107 | US26209c1071 |
Fund Market Price as of Jul 22, 2024
Premium Discount to NAV Graph and Summary Line Chart
Calendar Year 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | |
---|---|---|---|---|---|
Days traded at premium | 133 | 31 | 32 | N/A | N/A |
Days traded at discount | 40 | 30 | 31 | N/A | N/A |
Before investing carefully consider the Fund’s investment objective, risks, charges, and expenses. This information is contained in the prospectus available here. Read carefully before investing.
Fund Net Cash Amount as of Jul 22, 2024
Fund Net Asset Value as of Jul 22, 2024
Performance as of Jul 22, 2024
1 Month | 3 Month | YTD | 1 Year | 3 Year | 5 Year | 10 Year | Incept. | |
---|---|---|---|---|---|---|---|---|
NAV | 0.76% | 8.03% | 7.63% | 8.34% | N/A | N/A | N/A | 10.06% |
Market Value | -5.20% | 1.77% | 1.27% | 1.72% | N/A | N/A | N/A | 4.69% |
NYSE DriveWealth 100 Index | 0.97% | 7.49% | 8.05% | 9.08% | N/A | N/A | N/A | 10.50% |
The performance data quoted represents past performance and is no guarantee of future results. Investment return and principal value will fluctuate so that an investor’s shares, when sold, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. For the most recent month-end performance call 833-222-8843.
Top Holdings by Performance
Fund Sectors
Fund Top Holdings as of Jul 22, 2024
Name | Ticker | Performance |
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Distributions as of Jul 27, 2024
Ex-dividend Date | Payable Date | Record Date | Total Distribution | Ordinary Income | ST Cap Gains | LT Cap Gains |
---|---|---|---|---|---|---|
2024-07-22 | 2024-07-26 | 2024-07-22 | 1.64 | 1.15 | 0.49 |
Purchase Information
![](https://www.drivewealth.com/wp-content/uploads/2023/03/emerging-investors-1.png)
Buying and Selling ETFs
An exchange-traded fund (ETF) is a pooled investment security that operates much like a mutual fund. Typically, ETFs will track a particular index, sector, commodity, or other asset, but unlike mutual funds ETFs can be bought or sold on a stock exchange the same way that a regular stock can.
Before investing carefully consider the Fund’s investment objective, risks, charges, and expenses. This information is contained in the prospectus available here. Read carefully before investing.
Distributor: Foreside Fund Services, LLC.
ETF shares are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. NAV Returns are calculated using the daily 4:30pm net asset value (NAV). Market price returns reflect the midpoint of the bid/ask spread as of the close of trading on the exchange where Fund shares are listed. Market price returns do not represent the returns you would receive if you traded shares at other times.
Important Risks
Investing involves risks including possible loss of principal. There is no guarantee the fund will achieve its investment objective. The Fund will primarily invest in other ETFs and will be subject to the underlying risks of those respective funds. Equity securities are subject to changes in value, and their values may be more volatile than those of other asset classes. To the extent the Fund does not fully replicate the Index, it is subject to the risk that the investment strategy of the Fund’s investment adviser may not produce the intended results.
The is no guarantee the Fund’s investment strategy will be successful. In managing the Fund’s portfolio, the investment adviser engages one or more sub-advisers to make investment decisions for a portion of or the entire portfolio. There is a risk that the investment adviser may be unable to identify and retain sub-advisers that achieve superior investment returns relative to other similar sub-advisers.