IPAY — ETFMG Prime Mobile Payments ETF
Data updated: 2024-02-28
IPAY — ETFMG Prime Mobile Payments ETF. United States Mid Cap Blend / Core Industrials Equity · $372.30M AUM. Holdings, fees, performance and SEC filings.
IPAY Fund Overview
IPAY — ETFMG Prime Mobile Payments ETF is a US ETF managed by ETF Managers Trust, categorised as United States Mid Cap Blend / Core Industrials Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US ETF
- Manager: ETF Managers Trust
- Category: United States Mid Cap Blend / Core Industrials Equity
- Assets under management: $372.30M
- 1-year return: 18.3%
- Ticker: IPAY
- SEC CIK: 0001467831
- SEC series ID: S000050191
- Share class ID: C000158449
IPAY Investment Objective and Strategy
ETFMG Prime Mobile Payments ETF describes its objective and strategy as follows, from its latest prospectus filed with the SEC by ETF Managers Trust.
Investment objective
The ETFMG Prime Mobile Payments ETF (the Fund or the Mobile Payments ETF) seeks to provide investment results that, before fees and expenses, correspond generally to the price and yield performance of the Prime Mobile Payments Index (the Index).
Principal investment strategy
The Fund uses a passive or indexing approach to try to achieve the Funds investment objective. Unlike many investment companies, the Fund does not try to beat the Index and does not seek temporary defensive positions when markets decline or appear overvalued. The Fund uses a replication strategy. A replication strategy is an indexing strategy that involves investing in the securities of the Index in approximately the same proportions as in the Index. However, the Fund may utilize a representative sampling strategy with respect to the Index 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 equity securities to follow the Index, in instances in which a security in the Index becomes temporarily illiquid, unavailable or less liquid, or as a result of legal restrictions or limitations (such as tax diversification requirements) that apply to the Fund but not the Index.
The Index tracks the performance of the exchange-listed equity securities (or corresponding American Depositary Receipts (ADRs) or Global Depositary Receipts (GDRs)) of companies across the globe that (i) engage in providing payment processing services or applications, (ii) provide payment solutions, (iii) build or provide payment industry architecture, infrastructure or software, or (iv) provide services as a credit card network (collectively, Mobile Payment Companies). Mobile Payment Companies are identified by Prime Indexes (the Index Provider), an independent index provider that is not affiliated with the Funds investment adviser. The Index Provider utilizes issuer financial statements and other public filings and reports, as well as third-party industry research, reports, and analyses, to identify Mobile Payment Companies around the world that meet the Indexs criteria for inclusion.
Mobile Payment Companies are then screened for investibility (e.g., must not be listed on an exchange in a country which employs certain restrictions on foreign capital investment), a minimum market capitalization of $100 million, and an operating company structure (as opposed to a pass-through security). The Index Provider may exclude companies that meet the criteria for inclusion in the Index or include companies that do not meet such criteria if it determines that including them would be contrary to the objective of the Index (e.g., their inclusion would negatively affect the investibility of the Index, the companys economic fortunes are predominantly driven by a business not related to that of a Mobile Payments Company, the company is expected to meet the inclusion criteria in the immediate future and plays an important role in the mobile payments industry).
The Index has a quarterly review in March, June, September, and December of each year at which times the Index is reconstituted and rebalanced by the Index Provider. The composition of the Index and the constituent weights are determined on the second Friday of each March, June, September, and December (or the next business day if the second Friday is not a business day) (the Selection Day). Component changes are made after the market close on the third Friday of March, June, September, and December (or the next business day if the second Friday is not a business day) and become effective at the market opening on the next trading day. Changes are announced on the Index Provider's publicly available website or the website of Solactive AG. The Index constituents are weighted according to a modified market capitalization weighting methodology.
Constituent weightings are modified in that each constituent weighting is capped at 6% of the Index and the cumulative weight of all constituents with an individual weight of 5% or greater may not in the aggregate account for more than 50% of the weight of the Index as of the Selection Day. In addition, constituents with a market capitalization of less than US $1 billion as of the Selection Day will have their weight reduced by 5585% depending on their specific market capitalization. The weight of any individual Index constituent whose weight is reduced due to the above-described limits will be redistributed equally among all other Index constituents whose weights are not in excess of such limits. The Index is developed and owned by the Index Provider, and the Index is calculated and maintained by Solactive AG.
The Index Provider is independent of Solactive AG, the Fund, and the Funds investment adviser. As of January 17, 2018, the Index had 37 constituents, 10 of which were foreign companies, and the three largest stocks and their weightings in the Index were PayPal Holdings, Inc. (6.46%), Mastercard Inc. (6.26%), and Visa Inc. (6.18%). The Fund invests at least 80% of its total assets, exclusive of collateral held from securities lending, in the component securities of the Index and in ADRs and GDRs based on the component securities in the Index. The Fund may invest up to 20% of its total assets in securities that are not in the Funds Index to the extent that the Funds adviser believes such investments should help the Funds overall portfolio track the Index. Correlation: Correlation is the extent to which the values of different types of investments move in tandem with one another in response to changing economic and market conditions.
An index is a theoretical financial calculation, while the Fund is an actual investment portfolio. The performance of the Fund and the Index may vary somewhat due to transaction costs, asset valuations, foreign currency valuations, market impact, corporate actions (such as mergers and spin-offs), legal restrictions or limitations, illiquid or unavailable securities, and timing variances. The Funds investment adviser expects that, over time, the correlation between the Funds performance and that of the Index, before fees and expenses, will exceed 95%. A correlation percentage of 100% would indicate perfect correlation. If the Fund uses a replication strategy, it can be expected to have greater correlation to the Index than if it uses a representative sampling strategy. Industry Concentration Policy: The Fund will concentrate its investments ( i.e ., hold 25% or more of its net assets) in a particular industry or group of related industries to approximately the same extent that the Index is concentrated.
As of January 17, 2018, the Index was concentrated in companies in the information technology services industry.
IPAY Holdings
Top 10 holdings of ETFMG Prime Mobile Payments ETF by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Mount Vernon Liquid Assets Portfolio, LLC | 7.06% |
| American Express Co | 5.97% |
| Mastercard Inc | 5.61% |
| Fiserv Inc | 5.53% |
| Visa Inc | 5.52% |
| PayPal Holdings Inc | 5.32% |
| Block Inc | 4.36% |
| Adyen NV | 3.76% |
| Fidelity National Information | 3.40% |
| Global Payments Inc | 3.32% |
IPAY Portfolio Allocation
Asset-class allocation of ETFMG Prime Mobile Payments ETF by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 99.1% |
| Cash & Equivalents | 8.1% |
IPAY Performance
Total returns for IPAY (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 18.3% |
| 3 years (annualised) | -11.2% |
IPAY Risk Information
Risk metrics for IPAY, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 29.6%
IPAY Costs and Fees
IPAY costs about $75 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.75%
- Gross expense ratio: 0.75%
- Portfolio turnover: 35%
- Brokerage commissions: 2.57 bps of average net assets (SEC N-CEN)
IPAY Cashflows
Over the 12 months to 2023-12, ETFMG Prime Mobile Payments ETF had net inflows of $198.97M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2023-12 | $11.15M |
| 2023-11 | $15.97M |
| 2023-10 | $24.90M |
| 2023-09 | $16.61M |
| 2023-08 | $6.19M |
| 2023-07 | $11.16M |
IPAY Debt Constituents
No individual debt constituents are reported in ETFMG Prime Mobile Payments ETF's latest SEC N-PORT filing.
IPAY Prospectus and SEC Filings
Official ETFMG Prime Mobile Payments ETF filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2023-01-26
- Prospectus (485BPOS) — filed 2022-01-28
- Prospectus (485BPOS) — filed 2021-01-29
- Portfolio holdings (N-PORT) — filed 2024-02-28
- Portfolio holdings (N-PORT) — filed 2023-11-28
- Portfolio holdings (N-PORT) — filed 2023-08-25
- Annual census (N-CEN) — filed 2023-12-14
- Annual census (N-CEN) — filed 2022-12-15
Related Funds
Other United States Mid Cap Blend / Core Industrials Equity 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.