Knowledge Leaders Developed World ETF
Data updated: 2020-07-07
C000156471 — Knowledge Leaders Developed World ETF. Money Market · $130.67M AUM · 0.75% expense ratio. Holdings, fees, performance and SEC filings.
C000156471 Fund Overview
Knowledge Leaders Developed World ETF is a US ETF managed by Exchange Listed Funds Trust, categorised as Money Market. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US ETF
- Manager: Exchange Listed Funds Trust
- Category: Money Market
- Assets under management: $130.67M
- SEC CIK: 0001547950
- SEC series ID: S000049545
- Share class ID: C000156471
C000156471 Investment Objective and Strategy
Knowledge Leaders Developed World ETF describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Exchange Listed Funds Trust.
Investment objective
The Knowledge Leaders Developed World ETF (the Fund) seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the Knowledge Leaders Developed World Index (the Index).
Principal investment strategy
The Fund will normally invest at least 80% of its total assets in securities of the Index. The Index is designed to measure the performance of issuers in developed markets countries that are considered to be Knowledge Leaders, as defined and determined by Knowledge Leaders Capital, LLC, the Funds Index Provider (the Index Provider), based on a proprietary selection model developed by the Index Provider and incorporated into the Index methodology. The eligible universe of Index components includes companies that account for 85% of the market capitalization of developed market country companies that have a stock price greater than $1, excluding all secondary listings, preferred shares, and American Depository Receipts. Of those, companies in the lowest 10% in terms of trading liquidity (shares traded multiplied by share price) are eliminated.
A proprietary selection model is then applied to create an intangible-adjusted financial history for each remaining company. The selection model does this by making adjustments to each companys reported financial data since 1980 (or since the companys inception, if later) that cause intangible investments to be treated as identical to tangible investments. For this purpose, intangible assets include research and development, advertising, brand development, and employee training expenses. The selection model then applies the Index Providers Knowledge Leaders screen, a proprietary, quantitative process used to measure a companys intangible-adjusted financial history for knowledge and innovation intensity, financial strength, and profitability. Companies are graded on a pass/fail basis and those companies that pass each level of the screen are identified as Knowledge Leaders and included on the Index.
From time to time, the Fund may have a significant portion of its assets invested in the securities of companies in one or more countries or regions and/or sectors. The Index may include companies of any market capitalization. Components in the Index are equal-weighted at the time of each Index rebalancing. The Index is rebalanced on a semi-annual basis. As of the date of this Prospectus, the Index comprised 784 component securities. The Fund uses a passive investment strategy designed to track the performance of the Index. The Funds sub-adviser, Penserra Capital Management LLC (Penserra or the Sub-Adviser), uses a representative sampling strategy to manage the Fund. Representative sampling is an indexing strategy that involves investing in a representative sample of the Indexs component securities that collectively has an investment profile similar to the Index.
The securities selected are expected to have, in the aggregate, investment characteristics (based on factors such as industry weightings), fundamental characteristics (such as return variability) and liquidity measures similar to those of the Index. The Fund may or may not hold all of the securities in the Index. Tracking error is the difference between the performance (return) of the Funds portfolio and that of the Index. Funds that employ a representative sampling strategy may incur tracking error to a greater extent than funds that seek to replicate an index. The Fund expects that over time, if it has sufficient assets, the correlation between the Funds performance, before fees and expenses, and that of the Index will be 95% or better. A figure of 100% would indicate perfect correlation.
The Fund may invest up to 20% of its assets in investments that are not included in the Index, but that the Funds investment adviser, Exchange Traded Concepts, LLC (the Adviser), or Sub-Adviser believes will help the Fund track the Index. Such investments include other investment companies, cash and cash equivalents, and money market instruments. The Fund will concentrate its investments ( i.e. , invest more than 25% of its total assets) in a particular industry or group of industries to approximately the same extent that the Index concentrates in an industry or group of industries. As of the date of this Prospectus, the Index was not concentrated in any industry. In addition, in replicating the Index, the Fund may from time to time invest a significant portion of its assets in the securities of companies in one or more sectors.
As of the date of this Prospectus, a significant portion of the Index consisted of companies in the information technology sector. The Index Provider is not affiliated with the Fund, the Adviser, or the Sub-Adviser. The Index Provider developed the methodology for determining the securities to be included in the Index and for the ongoing maintenance of the Index. The Index is calculated and administered by Solactive AG, which is not affiliated with the Fund, the Adviser, the Sub-Adviser, or the Index Provider.
C000156471 Holdings
Top 10 holdings of Knowledge Leaders Developed World ETF by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Justsystems Corp | 0.77% |
| Adobe Inc | 0.69% |
| Nemetschek SE | 0.65% |
| Fujitsu Ltd | 0.62% |
| Ono Pharmaceutical Co Ltd | 0.61% |
| Toyo Suisan Kaisha Ltd | 0.61% |
| Kobayashi Pharmaceutical Co Lt | 0.58% |
| Synopsys Inc | 0.56% |
| Intuit Inc | 0.56% |
| Hamamatsu Photonics KK | 0.56% |
C000156471 Portfolio Allocation
Asset-class allocation of Knowledge Leaders Developed World ETF by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 78.5% |
| Cash & Equivalents | 0.1% |
C000156471 Costs and Fees
C000156471 costs about $75 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.75%
- Gross expense ratio: 0.75%
- Portfolio turnover: 18%
- Brokerage commissions: 1.58 bps of average net assets (SEC N-CEN)
C000156471 Cashflows
Over the 12 months to 2020-04, Knowledge Leaders Developed World ETF had net inflows of $1.38M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2020-04 | $1.38M |
| 2020-03 | $0 |
| 2020-02 | $0 |
C000156471 Debt Constituents
No individual debt constituents are reported in Knowledge Leaders Developed World ETF's latest SEC N-PORT filing.
C000156471 Prospectus and SEC Filings
Official Knowledge Leaders Developed World ETF filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
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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.