GBDV — Global Beta Smart Income ETF
Data updated: 2022-07-11
GBDV — Global Beta Smart Income ETF. Global (incl. US) Real Estate · $9.76M AUM · 0.29% expense ratio. Holdings, fees, performance and SEC filings.
GBDV Fund Overview
GBDV — Global Beta Smart Income ETF is a US ETF managed by Global Beta ETF Trust, categorised as Global (incl. US) Real Estate. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US ETF
- Manager: Global Beta ETF Trust
- Category: Global (incl. US) Real Estate
- Assets under management: $9.76M
- 1-year return: 14.6%
- Ticker: GBDV
- SEC CIK: 0001774739
- SEC series ID: S000066411
- Share class ID: C000214282
GBDV Investment Objective and Strategy
Global Beta Smart Income ETF describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Global Beta ETF Trust.
Investment objective
The Global Beta Smart Income ETF (the Fund) seeks to track the performance (before fees and expenses) of the Global Beta Smart Income Index (the Target Index).
Principal investment strategy
The Fund seeks to track the performance (before fees and expenses) of the Target Index. The Target Index is comprised of equity securities of U.S. companies in the highest quintile of the average twelve month trailing dividend yield over each of the prior four quarters in the S&P 900, and that rank in the top half of their respective Global Industry Classification Standard (GICS ) sector classification. The constituent securities of the Target Index are weighted based on their revenue, with each individual index constituent capped at 4.5% at each quarterly rebalance. Any company that has cut or suspended its dividend will be removed from the Target Index at the next quarterly rebalance and will be ineligible for inclusion in the Target Index until it increases or reinstitutes its dividend.
In the event that the cut/suspension results in a dividend that, when annualized, would result in a dividend yield below 3.5%, the company will be removed promptly from the Target Index. In addition, index constituents from the energy sector, as classified by GICS , are capped at 3% in the aggregate in the Target Index at each quarterly rebalance when the price of crude oil, as defined by Crude Oil WTI futures (ticker: CL00), is below its 30 day moving average. As of January 29, 2022, the Target Index was comprised of 92 securities. The S&P 900 is an investable benchmark for the mid- to large-cap segment of the U.S. equity market (including real estate investment trusts (REITs)). As of January 29, 2022 the S&P 900 was comprised of 905 U.S. securities with capitalizations ranging from $2.14 billion to $2.85 trillion.
REITs are companies that own or finance income-producing real estate. The Target Index will not match the S&P 900 weighting of each GICS industry. The Fund may use either a replication strategy or representative sampling strategy in seeking to track the performance of the Target Index. Under a replication strategy, the Fund intends to replicate the constituent securities of the Target Index as closely as possible. Under a representative sampling strategy, the Fund would invest in what it believes to be a representative sample of the component securities of the Target Index. The Fund may use a representative sampling strategy when a replication strategy might be detrimental to shareholders, such as when there are practical difficulties or substantial costs involved in compiling a portfolio of securities to follow the Target Index (e.g., where the Target Index contains component securities too numerous to efficiently purchase or sell); or, in certain instances, when a component security of the Target Index becomes temporarily illiquid, unavailable or less liquid.
The Fund may also use a representative sampling strategy to exclude less liquid component securities contained in the Target Index from the Funds portfolio in order to create a more tradable portfolio and improve arbitrage opportunities. To the extent the Fund uses a representative sampling strategy, it may not track the Target Index with the same degree of accuracy as would an investment vehicle replicating the entire index. To the extent that the Target Index concentrates (i.e., holds 25% or more of its net assets) in securities of a particular industry or group of industries, the Fund is expected to concentrate to approximately the same extent. The Fund will primarily invest in U.S. companies that are included in the Target Index. The Fund may invest its assets in investments not included in the Target Index, but which Global Beta Advisors LLC (the Adviser) believes will help the Fund track the Target Index.
For example, there may be instances in which the Adviser may choose to purchase or sell investments, including exchange-traded funds (ETFs) and other investment company securities and cash and cash equivalents, as substitutes for one or more Target Index components or in anticipation of changes in the Target Indexs components. S&P Dow Jones Indices LLC (the Index Provider), in consultation with the Adviser, developed the Target Index methodology. The Index Provider is responsible for the ongoing maintenance, compilation, calculation and administration of the Target Index.
GBDV Performance
Total returns for GBDV (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 14.6% |
| 3 years (annualised) | 22.4% |
GBDV Risk Information
Risk metrics for GBDV, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 12.5%
GBDV Costs and Fees
GBDV costs about $29 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.29%
- Gross expense ratio: 0.29%
- Portfolio turnover: 117%
- Brokerage commissions: 5.40 bps of average net assets (SEC N-CEN)
GBDV Cashflows
Over the 12 months to 2022-05, Global Beta Smart Income ETF had net inflows of $12.33M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2022-05 | $4.16M |
| 2022-04 | $4.82M |
| 2022-03 | $1.72M |
| 2022-02 | $565.79K |
| 2022-01 | $0 |
| 2021-12 | $0 |
GBDV Debt Constituents
No individual debt constituents are reported in Global Beta Smart Income ETF's latest SEC N-PORT filing.
GBDV Prospectus and SEC Filings
Official Global Beta Smart Income ETF filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2022-03-28
- Prospectus (485BPOS) — filed 2021-03-26
- Prospectus supplement (497) — filed 2021-05-04
- Portfolio holdings (N-PORT) — filed 2022-07-11
- Portfolio holdings (N-PORT) — filed 2022-04-20
- Portfolio holdings (N-PORT) — filed 2022-01-24
- Annual census (N-CEN) — filed 2022-02-08
- Annual census (N-CEN) — filed 2021-02-12
Related Funds
Other Global (incl. US) Real Estate 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.