AWTM — National Investment Services Ultra-Short Duration Enhanced Income ETF
Data updated: 2022-07-28
AWTM — National Investment Services Ultra-Short Duration Enhanced Income ETF. Leveraged · $29.27M AUM. Holdings, fees, performance and SEC filings.
AWTM Fund Overview
AWTM — National Investment Services Ultra-Short Duration Enhanced Income ETF is a US ETF managed by Tidal Trust I, categorised as Leveraged. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US ETF
- Manager: Tidal Trust I
- Category: Leveraged
- Assets under management: $29.27M
- 1-year return: -1.1%
- Ticker: AWTM
- SEC CIK: 0001742912
- SEC series ID: S000063572
- Share class ID: C000205986
AWTM Investment Objective and Strategy
National Investment Services Ultra-Short Duration Enhanced Income ETF describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Tidal Trust I.
Investment objective
The National Investment Services Ultra-Short Duration Enhanced Income ETF (the Fund) seeks to maximize current income over the most recently issued three-month U.S. Treasury bill while maintaining low volatility and preservation of capital.
Principal investment strategy
The Fund is an actively-managed exchange-traded fund (ETF) that seeks to achieve its investment objective, under normal circumstances, by investing at least 80% of its net assets in U.S.-dollar denominated investment-grade fixed- and floating-rate bonds, and debt securities with ultra-short maturities and an overall effective duration of less than one year. Effective duration is a measure of the Funds price sensitivity to changes in yields or interest rates and a fund with a higher effective duration will, under normal circumstances, have a greater sensitivity to interest rates. For example, if a portfolio has a duration of one year, and interest rates increase (or, conversely, decrease) by 2%, the portfolio would decline (or increase, respectively) in value by approximately 2%. However, duration may not accurately reflect the true interest rate sensitivity of instruments held by the Fund and, therefore, the Funds exposure to changes in interest rates.
The Funds investments may include instruments issued by both U.S. and non-U.S. government and private sector issuers, including asset-backed securities (ABS). Instruments issued by the U.S. government include U.S. Treasury and U.S. agency securities, which may include mortgage-backed securities (MBS) issued or guaranteed by the U.S. government, federal agencies, or U.S. government sponsored instrumentalities. The Fund may purchase or sell securities on a when-issued, delayed delivery, or forward commitment basis, including the use of the To Be Announced (TBA) market for MBS investments. The Fund may also invest in private placements and Rule 144A securities, which are subject to resale restrictions, as well as ETFs that primarily invest in debt instruments. The Fund is not a money market fund and does not seek to maintain a stable NAV of $1.00 per Share.
As part of the Funds principal investment strategy or for temporary defensive purposes, the Fund may invest, without limitation, in short-term instruments such as commercial paper and/or repurchase agreements collateralized by U.S. government securities, corporate obligations, municipal debt securities, MBS, cash or cash equivalents. The Funds investment sub-adviser, National Investment Services of America, LLC, doing business as National Investment Services (NIS or the Sub-Adviser), has broad discretion to determine the most favorable strategies and investment opportunities for the Fund, as well as the instruments and investment techniques used by the Fund to achieve its investment objective. The Sub-Adviser determines which instruments to purchase, hold, or sell based on a variety of factors, including expectations regarding an instrument or group of instruments risk and correlation, as well as market conditions and economic metrics, such as interest rates and inflation.
The Sub-Adviser seeks to buy instruments that it believes will best help the Fund achieve its objective and seeks to sell instruments whose outlook has changed or to redeploy assets in more attractive investment opportunities. If a credit rating agency changes the rating of a portfolio security held by the Fund, the Fund may retain the security if the Sub-Adviser deems it is in the best interest of shareholders. The Fund is actively-managed and does not seek to replicate the performance of a specified index. The Fund may actively and frequently trade all or a significant portion of its portfolio.
AWTM Performance
Total returns for AWTM (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | -1.1% |
| 3 years (annualised) | -0.3% |
AWTM Risk Information
Risk metrics for AWTM, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 0.6%
AWTM Costs and Fees
AWTM costs about $24 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.24%
- Gross expense ratio: 0.24%
- Portfolio turnover: 66%
- Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)
AWTM Cashflows
Over the 12 months to 2022-05, National Investment Services Ultra-Short Duration Enhanced Income ETF had net inflows of $140.11M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2022-05 | $10.98M |
| 2022-04 | $1.22M |
| 2022-03 | $1.22M |
| 2022-02 | $0 |
| 2022-01 | $0 |
| 2021-12 | $2.48M |
AWTM Debt Constituents
No individual debt constituents are reported in National Investment Services Ultra-Short Duration Enhanced Income ETF's latest SEC N-PORT filing.
AWTM Prospectus and SEC Filings
Official National Investment Services Ultra-Short Duration Enhanced Income ETF filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2022-03-25
- Prospectus (485BPOS) — filed 2021-11-05
- Prospectus (485BPOS) — filed 2021-03-26
- Portfolio holdings (N-PORT) — filed 2022-07-28
- Portfolio holdings (N-PORT) — filed 2022-04-26
- Portfolio holdings (N-PORT) — filed 2022-01-26
- Annual census (N-CEN) — filed 2022-02-09
- Annual census (N-CEN) — filed 2021-02-16
Related Funds
Other Leveraged funds tracked on ABC INVEST:
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.