AGGE — IQ Enhanced Core Bond U.S. ETF

AGGE Fund Overview

AGGE — IQ Enhanced Core Bond U.S. ETF is a US ETF managed by New York Life Investments ETF Trust, categorised as Total / Aggregate Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

• Type: US ETF
• Manager: New York Life Investments ETF Trust
• Category: Total / Aggregate Bond
• Assets under management: $6.88M
• Ticker: AGGE
• SEC CIK: 0001415995
• SEC series ID: S000053510
• Share class ID: C000168194

AGGE Investment Objective and Strategy

IQ Enhanced Core Bond U.S. ETF describes its objective and strategy as follows, from its latest prospectus filed with the SEC by New York Life Investments ETF Trust.

Investment objective

The Fund seeks investment results that track (before fees and expenses) the price and yield performance of its underlying index, the IQ Enhanced Core Bond U.S. Index (the Underlying Index).

Principal investment strategy

The Fund is a fund of funds which means it invests, under normal circumstances, at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the investments included in its Underlying Index. The Underlying Index seeks to outperform the U.S. dollar-denominated taxable fixed income universe by using a combination of short- and long-term momentum to overweight and underweight various sectors of the investment grade U.S. fixed income securities market (the Investment Grade Market). The Underlying Index consists of a number of components (Underlying Index Components) selected in accordance with IndexIQ LLCs (IndexIQ) rules-based methodology of such Underlying Index. Such Underlying Index Components will include primarily ETFs and/or other exchange-traded vehicles organized in the U.S.

(ETVs) (such ETFs and ETVs are referred to collectively as exchange-traded products or ETPs). As of June 30, 2018, the Underlying Index consists of 16 Underlying Index Components. The Fund may invest more than 25% of its assets in an Underlying Index Component. The Fund may also invest in other securities and instruments, including but not limited to futures contracts and swap agreements (collectively, Financial Instruments) and bonds. The Fund invests, under normal circumstances, at least 80% of its net assets, plus the amount of any borrowings for investment purposes, directly or indirectly through ETPs, in bonds, which include all types of debt securities, of U.S. issuers. The Fund employs a passive management or indexing investment approach designed to track the performance of the Underlying Index, which was developed by IndexIQ with New York Life Investment Management LLC (NYLIM) acting as index consultant to IndexIQ.

The Underlying Index follows a rules-based methodology to construct an index consisting of investments in various sectors of the Investment Grade Market. The sectors of the Investment Grade Market in which the Underlying Index principally invests are: Short-term U.S. Treasuries (1-3 year maturities); Intermediate-term U.S. Treasuries (3-10 year maturities); Long-term U.S. Treasuries (greater than 10 year maturities); Investment grade corporate bonds; and Investment grade mortgage-backed securities. The Underlying Index weights each of the various sectors of the Investment Grade Market based on the total return momentum of each fixed income sector. Momentum is measured by comparing the average total return index of the fixed income market sector over a short-term period with the sectors average total return index over a longer-term period, while taking into account the volatility of the sector.

Volatility is the standard deviation of returns and measures the amount of fluctuation in a securitys or group of securities value over time. The Underlying Index overweighs fixed income sectors with high momentum and underweights fixed income sectors with low momentum. The exposure of the Underlying Index to different sectors of the Investment Grade Market will vary over time. The maximum exposure of the Underlying Index to any single sector of the Investment Grade Market is 50% of the Underlying Index. Over long-term periods, the Underlying Index is expected to have similar volatility to the investment grade U.S. fixed income securities market. However, the Underlying Indexs and Funds volatility during certain periods may materially exceed the volatility of the investment grade U.S. fixed income securities market.

The Underlying Index rebalances monthly.

AGGE Costs and Fees

AGGE costs about $28 per $10,000 invested per year in fund expenses.

• Net expense ratio: 0.28%
• Gross expense ratio: 0.33%
• Portfolio turnover: 286%
• Brokerage commissions: 15.88 bps of average net assets (SEC N-CEN)

AGGE Cashflows

Over the 12 months to 2020-01, IQ Enhanced Core Bond U.S. ETF had net inflows of $145.64M, from monthly SEC N-PORT filings.

AGGE Debt Constituents

No individual debt constituents are reported in IQ Enhanced Core Bond U.S. ETF's latest SEC N-PORT filing.

AGGE Prospectus and SEC Filings

Official IQ Enhanced Core Bond U.S. ETF filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2019-09-12
• Prospectus (485BPOS) — filed 2018-09-07
• Prospectus (485BPOS) — filed 2017-09-11
• Portfolio holdings (N-PORT) — filed 2020-03-27
• Portfolio holdings (N-PORT) — filed 2019-12-23
• Annual census (N-CEN) — filed 2019-07-12

Related Funds

Other Total / Aggregate Bond funds tracked on ABC INVEST:

• FormulaFolios Tactical Income ETF (FFTI)
• DriveWealth Steady Saver ETF (STBL)
• DriveWealth Power Saver ETF (EERN)
• WBI BullBear Global Income ETF (WBII)
• Rimrock Core Bond Fund (RMRKX)

Data Sources

ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.