SYII — Syntax Stratified Total Market II ETF
Data updated: 2024-08-21
SYII — Syntax Stratified Total Market II ETF. United States Small Cap Blend / Core Equity · $8.10M AUM. Holdings, fees, performance and SEC filings.
SYII Fund Overview
SYII — Syntax Stratified Total Market II ETF is a US ETF managed by Syntax ETF Trust, categorised as United States Small Cap Blend / Core Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US ETF
- Manager: Syntax ETF Trust
- Category: United States Small Cap Blend / Core Equity
- Assets under management: $8.10M
- 1-year return: 11.3%
- Ticker: SYII
- SEC CIK: 0001580843
- SEC series ID: S000074623
- Share class ID: C000232648
SYII Investment Objective and Strategy
Syntax Stratified Total Market II ETF describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Syntax ETF Trust.
Investment objective
The Syntax Stratified Total Market II ETF (the Fund) seeks to obtain capital growth that exceeds the performance of the S&P Composite 1500 Index (the 1500 Index) over a full market cycle by investing in exchange-traded funds (ETFs) or underlying securities that provide Stratified Weight TM U.S. total equity market exposure to companies in the 1500 Index.
Principal investment strategy
The Fund seeks Stratified Weight TM exposure to a broad range of stocks representative of approximately 90% of the total U.S. market capitalization through active investments in ETFs, or underlying securities. The Fund seeks to achieve its investment objective by investing in Syntax Stratified Weight ETFs (each a Syntax Underlying Fund and collectively, the Syntax Underlying Funds or Underlying Funds) or by investing in U.S. equity securities using the Stratified Weight methodology (Securities). The Fund has a policy that under normal circumstances, it will invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in equity securities of U.S. issuers. A U.S. issuer is considered to be a company (i) meeting the eligibility requirements for inclusion within the 1500 Index and/or (ii) with its principal listing on an US.
national securities exchange Stratified-Weight is the weighting methodology by which Syntax, LLC (Syntax) diversifies its indices by hierarchically grouping and distributing the weight of an indexs constituent companies that share Related Business Risks. Related Business Risk occurs when two or more companies provide similar products and/or services or share economic relationships such as having common suppliers, customers or competitors. The process of identifying, grouping, and diversifying holdings across Related Business Risk groups within an index is called stratification, and was designed to correct for business risk concentrations that regularly occur in capitalization-weighted indices and equal-weighted indices. Capitalization weighting can cause an investors ownership to accumulate in the largest, most momentum-driven companies and industries, while equal weighting is intended to permit an investors ownership to accumulate in the industries that have the most company representatives in the index.
Instead of concentrating in the largest companies or the most represented industries, Syntax diversifies (or stratifies) index weight across a fixed number of business risk groups in a manner designed to provide a diversified exposure to all of the business opportunities of an index. The Related Business Risk groups are: Consumer Products & Services; Energy; Financials; Food; Industrials; Information; Information Tools; and Healthcare. Under normal circumstances, the Adviser expects to allocate the assets of the Fund among the Syntax Stratified LargeCap ETF, the Syntax Stratified MidCap ETF and the Syntax Stratified SmallCap ETF in exposures approximate to their exposures in the Syntax Stratified U.S. Total Market Index. Based on historical averages the Adviser expects these exposures in the Funds portfolio to be between 70% and 96% to the Syntax Stratified LargeCap ETF or constituents representing S&P 500 (large capitalization) universe exposure, between 3% and 20% to the Syntax Stratified MidCap ETF or constituents representing S&P MidCap 400 (mid capitalization) universe exposure, and between 1% and 10% to the Syntax Stratified SmallCap ETF or constituents that represent S&P SmallCap 600 (small capitalization) universe exposure.
The Fund, at the Advisers discretion, may, from time to time, own these exposures in weights that are above or below these expected ranges if the Adviser deems it in the interest of the Fund. There is no guarantee that the weights of the Underlying Funds will be in the above ranges. The Fund is managed by Vantage Consulting Group (the Sub-Adviser). General . The targeted Underlying Funds and/or the Securities for the Fund will comprise the Syntax Stratified LargeCap ETF , the Syntax Stratified MidCap ETF, and the Syntax Stratified SmallCap ETF, or portfolios of securities that hold comparable securities in comparable classes in a Stratified Weight methodology. The terms LargeCap, MidCap, and SmallCap refer to companies with relatively higher, more moderate, and lower market value, respectively.
The Syntax Stratified LargeCap ETF (ticker: SSPY) reweights the constituents of the S&P 500 Index and seeks to provide investment results that, before expenses, correspond generally to the total return performance of the publicly traded equity securities of companies comprising the Syntax Stratified LargeCap Index. The goal for SSPY is to deliver a return that is representative of all the business opportunities in the Syntax Stratified LargeCap Index. SSPY utilizes Syntaxs Stratified Weight methodology to spread exposure more evenly across the business risks in the S&P 500. By doing this, SSPY and SPYS each address the Related Business Risk concentrations that occur in capitalization-weighted indices. The market capitalization of companies in the S&P 500 Index as of December 31, 2023 was between $4.9 billion and $2.9 trillion.
The Syntax Stratified MidCap ETF (ticker: SMDY) reweights the constituents of the S&P MidCap 400 Index and seeks to provide investment results that, before expenses, correspond generally to the total return performance of the publicly traded equity securities of companies comprising the Syntax Stratified MidCap Index. SMDY utilizes Syntax's Stratified Weight methodology to spread exposure more evenly across the business risks in the S&P MidCap 400 Index. SMDYs goal is to deliver a return that is representative of all the business opportunities in the Syntax Stratified MidCap Index. By doing this, SMDY addresses the Related Business Risk concentrations that occur in capitalization-weighted indices. The market capitalization of companies in the S&P MidCap 400 Index as of December 31, 2023 was between $1.6 billion and $17.9 billion.
The Syntax Stratified SmallCap ETF (ticker: SSLY) reweights the constituents of the S&P SmallCap 600 Index and seeks to provide investment results that, before expenses, correspond generally to the total return performance of the publicly traded equity securities of companies comprising the Syntax Stratified SmallCap Index. SSLY utilizes Syntax's Stratified Weight methodology to spread exposure more evenly across the business risks in the S&P SmallCap 600 Index. SSLYs goal is to deliver a return that is representative of all the business opportunities in the Syntax Stratified SmallCap Index. By doing this, SSLY addresses the Related Business Risk concentrations that occur in capitalization-weighted indices. The market capitalization of companies in the S&P SmallCap 600 Index as of December 31, 2023 was between $235 million and $8.2 billion.
The Syntax Stratified U.S. Total Market Index is an index comprised of the constituents of the Syntax Stratified LargeCap Index, the Syntax Stratified MidCap Index and the Syntax Stratified SmallCap Index, and is reconstituted annually. Under normal market conditions, the referent indices for each of the Syntax Underlying Funds rebalance quarterly, on the third Friday of each quarter-ending month, and include components allocated across the above-described Related Business Risk groups. The Fund will allocate across the Syntax Underlying Funds through the methodology described above. The Fund is actively managed, and the weighting of the Syntax Underlying Funds or the weighting of the Securities is expected to shift over time, based on the outlook of the Adviser and Sub-Adviser who is responsible for setting the periodic allocation of the Fund across its large, mid, and small cap exposure.
With the exception of SPYS which is actively managed, the Syntax Underlying Funds use a passive, or indexing, approach to try to achieve the respective Syntax Underlying Funds investment objective. The Adviser may, from time to time, allocate to other Syntax Stratified Weight ETFs that use active and/or passive strategies as applied to comparable U.S. equity investment universes. Please see the Additional Strategies Information section of the Prospectus for more information on the Syntax Stratified Weight methodology and the Underlying Funds.
SYII Holdings
Top 3 holdings of Syntax Stratified Total Market II ETF by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Syntax Stratified Large Cap ETF | 84.84% |
| Syntax Stratified MidCap ETF | 10.08% |
| Syntax Stratified SmallCap ETF | 5.03% |
SYII Portfolio Allocation
Asset-class allocation of Syntax Stratified Total Market II ETF by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 100.0% |
SYII Performance
Total returns for SYII (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 11.3% |
| 3 years (annualised) | 13.1% |
SYII Risk Information
Risk metrics for SYII, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 15.8%
SYII Costs and Fees
SYII costs about $35 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.35%
- Gross expense ratio: 1.07%
- Portfolio turnover: 1%
- Brokerage commissions: 0.13 bps of average net assets (SEC N-CEN)
SYII Cashflows
Over the 12 months to 2024-06, Syntax Stratified Total Market II ETF had net outflows of $1.14M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2024-06 | $0 |
| 2024-05 | $0 |
| 2024-04 | $0 |
| 2024-03 | $0 |
| 2024-02 | $0 |
| 2024-01 | $0 |
SYII Debt Constituents
No individual debt constituents are reported in Syntax Stratified Total Market II ETF's latest SEC N-PORT filing.
SYII Prospectus and SEC Filings
Official Syntax Stratified Total Market II ETF filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2024-04-26
- Prospectus (485BPOS) — filed 2022-06-02
- Prospectus supplement (497) — filed 2023-05-03
- Portfolio holdings (N-PORT) — filed 2024-08-21
- Portfolio holdings (N-PORT) — filed 2024-05-29
- Portfolio holdings (N-PORT) — filed 2024-02-27
- Annual census (N-CEN) — filed 2024-03-13
- Annual census (N-CEN) — filed 2023-03-16
Related Funds
Other United States Small Cap Blend / Core 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.