WBI Power Factor High Dividend ETF

TICKER

WBIY

INCEPTION DATE

12/19/2016

NAV

$25.51
As of 03/24/2023

FUND NET ASSETS

$73.97 (MM)
As of 03/24/2023

30-DAY SEC YIELD

5.38%
As of 2/28/2023

30-DAY SEC YIELD (UNSUB.)

5.16%
As of 2/28/2023

WHAT MAKES WBIY SO SMART?

We believe that WBIY’s multi-factor, actively rebalanced process is the most advanced Smart Beta approach in the marketplace today – one that is designed to help solve an investor’s need for high current income, inflation protection, and consistent capital growth. So how does WBIY work?

Watch the video to find out.

The WBIY Power Factor

WBIY is designed to track the Solactive Power Factor High Dividend Index. The Index screens for securities based on three fundamental value characteristics, or “Power Factors”:

Trailing 12-month diluted earnings from continuing operations to price (E/P Ratio)
Trailing 12-month free cash flow to price (FCF/P Ratio)
Trailing 12-month sales to price (S/P Ratio)

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Stock Selection Process

The goal of the Solactive Power Factor High Dividend Index and WBIY product design is to improve performance through superior security selection. Quarterly rebalancing provides a more active approach than you would find in similar offerings. The process identifies the “Top 50” highest dividend-yielding U.S. common stocks that also have high quality fundamentals.

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Documents

Fund Performance

Daily Holdings:

Date	Account	StockTicker	CUSIP	SecurityName	Shares	Price	MarketValue	Weightings	NetAssets	SharesOutstanding	CreationUnits	MoneyMarketFlag	IncomeByPosition
03/27/2023	WBIY	INTC	458140100	INTEL CORP	137,706	29.360000	4043048.16	5.47%	73973780.00	2900000	58		0.00
03/27/2023	WBIY	STX	G7997R103	SEAGATE TECHNOLOGY HLDNGS PLC ORD SHS	63,789	61.640000	3931953.96	5.32%	73973780.00	2900000	58		0.00
03/27/2023	WBIY	MO	02209S103	ALTRIA GROUP INC	88,781	43.970000	3903700.57	5.28%	73973780.00	2900000	58		0.00
03/27/2023	WBIY	LYB	N53745100	LYONDELLBASELL INDUSTRIES N V SHS - A -	43,344	86.570000	3752290.08	5.07%	73973780.00	2900000	58		0.00
03/27/2023	WBIY	DOW	260557103	DOW INC	69,146	51.780000	3580379.88	4.84%	73973780.00	2900000	58		0.00
03/27/2023	WBIY	VZ	92343V104	VERIZON COMMUNICATIONS INC	94,260	37.660000	3549831.60	4.80%	73973780.00	2900000	58		0.00
03/27/2023	WBIY	KMI	49456B101	KINDER MORGAN INC DEL	207,578	16.790000	3485234.62	4.71%	73973780.00	2900000	58		0.00
03/27/2023	WBIY	MMM	88579Y101	3M CO	33,045	101.140000	3342171.30	4.52%	73973780.00	2900000	58		0.00
03/27/2023	WBIY	C	172967424	CITIGROUP INC	75,345	43.110000	3248122.95	4.39%	73973780.00	2900000	58		0.00
03/27/2023	WBIY	F	345370860	FORD MTR CO DEL	277,591	11.510000	3195072.41	4.32%	73973780.00	2900000	58		0.00
03/27/2023	WBIY	PXD	723787107	PIONEER NAT RES CO	16,588	192.220000	3188545.36	4.31%	73973780.00	2900000	58		0.00
03/27/2023	WBIY	IP	460146103	INTERNATIONAL PAPER CO	81,912	34.480000	2824325.76	3.82%	73973780.00	2900000	58		0.00
03/27/2023	WBIY	WHR	963320106	WHIRLPOOL CORP	20,465	127.170000	2602534.05	3.52%	73973780.00	2900000	58		0.00
03/27/2023	WBIY	Cash&Other	Cash&Other	Cash & Other	2,088,658	1.000000	2088657.57	2.82%	73973780.00	2900000	58	Y
03/27/2023	WBIY	KSS	500255104	KOHLS CORP	95,562	21.480000	2052671.76	2.77%	73973780.00	2900000	58		0.00
03/27/2023	WBIY	NYCB	649445103	NEW YORK CMNTY BANCORP INC	207,205	8.950000	1854484.75	2.51%	73973780.00	2900000	58		0.00
03/27/2023	WBIY	CALM	128030202	CAL MAINE FOODS INC	27,659	54.460000	1506309.14	2.04%	73973780.00	2900000	58		0.00
03/27/2023	WBIY	PRU	744320102	PRUDENTIAL FINL INC	19,145	77.580000	1485269.10	2.01%	73973780.00	2900000	58		0.00
03/27/2023	WBIY	NRG	629377508	NRG ENERGY INC	41,607	31.490000	1310204.43	1.77%	73973780.00	2900000	58		0.00
03/27/2023	WBIY	FL	344849104	FOOT LOCKER INC	32,936	37.980000	1250909.28	1.69%	73973780.00	2900000	58		0.00
03/27/2023	WBIY	BBY	086516101	BEST BUY INC	15,046	74.320000	1118218.72	1.51%	73973780.00	2900000	58		0.00
03/27/2023	WBIY	KHC	500754106	KRAFT HEINZ CO	28,416	38.180000	1084922.88	1.47%	73973780.00	2900000	58		0.00
03/27/2023	WBIY	PSX	718546104	PHILLIPS 66	10,801	93.730000	1012377.73	1.37%	73973780.00	2900000	58		0.00
03/27/2023	WBIY	WU	959802109	WESTERN UN CO	89,722	10.860000	974380.92	1.32%	73973780.00	2900000	58		0.00
03/27/2023	WBIY	ALLY	02005N100	ALLY FINL INC	32,967	24.220000	798460.74	1.08%	73973780.00	2900000	58		0.00
03/27/2023	WBIY	PAGP	72651A207	PLAINS GP HLDGS L P	64,754	12.180000	788703.72	1.07%	73973780.00	2900000	58		0.00
03/27/2023	WBIY	BEN	354613101	FRANKLIN RESOURCES INC	26,677	26.290000	701338.33	0.95%	73973780.00	2900000	58		0.00
03/27/2023	WBIY	CG	14316J108	CARLYLE GROUP INC	23,069	30.420000	701758.98	0.95%	73973780.00	2900000	58		0.00
03/27/2023	WBIY	LEG	524660107	LEGGETT & PLATT INC	22,669	30.770000	697525.13	0.94%	73973780.00	2900000	58		0.00
03/27/2023	WBIY	FNF	31620R303	FIDELITY NATIONAL FINANCIAL IN FNF GROUP COM	20,550	33.320000	684726.00	0.93%	73973780.00	2900000	58		0.00
03/27/2023	WBIY	CVI	12662P108	CVR ENERGY INC	22,318	29.550000	659496.90	0.89%	73973780.00	2900000	58		0.00
03/27/2023	WBIY	ORI	680223104	OLD REP INTL CORP	27,284	24.010000	655088.84	0.89%	73973780.00	2900000	58		0.00
03/27/2023	WBIY	HBAN	446150104	HUNTINGTON BANCSHARES INC	58,706	10.780000	632850.68	0.86%	73973780.00	2900000	58		0.00
03/27/2023	WBIY	KEY	493267108	KEYCORP	52,978	11.860000	628319.08	0.85%	73973780.00	2900000	58		0.00
03/27/2023	WBIY	MDC	552676108	M D C HLDGS INC	16,047	38.280000	614279.16	0.83%	73973780.00	2900000	58		0.00
03/27/2023	WBIY	IVZ	G491BT108	INVESCO LTD	39,956	15.050000	601337.80	0.81%	73973780.00	2900000	58		0.00
03/27/2023	WBIY	USB	902973304	US BANCORP DEL	17,154	34.900000	598674.60	0.81%	73973780.00	2900000	58		0.00
03/27/2023	WBIY	TFC	89832Q109	TRUIST FINANCIAL CORP	17,929	32.890000	589684.81	0.80%	73973780.00	2900000	58		0.00
03/27/2023	WBIY	JXN	46817M107	JACKSON FINANCIAL INC	15,244	35.420000	539942.48	0.73%	73973780.00	2900000	58		0.00
03/27/2023	WBIY	CWH	13462K109	CAMPING WORLD HLDGS INC	26,271	19.160000	503352.36	0.68%	73973780.00	2900000	58		0.00
03/27/2023	WBIY	FAF	31847R102	FIRST AMERN FINL CORP	9,355	53.710000	502457.05	0.68%	73973780.00	2900000	58		0.00
03/27/2023	WBIY	CWEN	18539C204	CLEARWAY ENERGY INC	15,356	30.170000	463290.52	0.63%	73973780.00	2900000	58		0.00
03/27/2023	WBIY	COLB	197236102	COLUMBIA BKG SYS INC	19,054	20.520000	390988.08	0.53%	73973780.00	2900000	58		0.00
03/27/2023	WBIY	VIRT	928254101	VIRTU FINL INC	19,767	17.270000	341376.09	0.46%	73973780.00	2900000	58		0.00
03/27/2023	WBIY	HESM	428103105	HESS MIDSTREAM LP	10,466	27.040000	283000.64	0.38%	73973780.00	2900000	58		0.00
03/27/2023	WBIY	NAVI	63938C108	NAVIENT CORPORATION	16,316	15.280000	249308.48	0.34%	73973780.00	2900000	58		0.00
03/27/2023	WBIY	UPBD	76009N100	UPBOUND GROUP INC	10,649	23.440000	249612.56	0.34%	73973780.00	2900000	58		0.00
03/27/2023	WBIY	SBGI	829226109	SINCLAIR BROADCAST GROUP INC CL A	15,340	14.630000	224424.20	0.30%	73973780.00	2900000	58		0.00
03/27/2023	WBIY	PPBI	69478X105	PACIFIC PREMIER BANCORP	8,087	24.710000	199829.77	0.27%	73973780.00	2900000	58		0.00
03/27/2023	WBIY	PFS	74386T105	PROVIDENT FINL SVCS INC	7,484	19.530000	146162.52	0.20%	73973780.00	2900000	58		0.00
03/27/2023	WBIY	HOPE	43940T109	HOPE BANCORP INC	13,789	10.230000	141061.47	0.19%	73973780.00	2900000	58		0.00

Distributions

The performance data quoted represents past performance and is not a guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. For most recent month-end performance, please click here.

An investment in the Funds is subject to risk, including the possible loss of principal. There is no guarantee the Advisor’s investment strategy or quantitative models used in the investment strategy will be successful. To the extent that a Fund invests in dividend-paying equities, if stocks held by the Fund reduce or stop paying dividends, the Funds’ ability to generate income may be affected. Small and medium capitalization companies may involve greater volatility and risk than investing in larger and more established companies. Foreign and emerging market securities carry additional risks such as currency fluctuation, economic or financial instability, lack of timely or reliable financial information, or unfavorable political or legal developments.

The Fund invests in high yielding stocks, which may be speculative, higher risk investments. It is possible these companies could pay out more than they can support and may reduce or stop paying dividends at any time, which could have a material adverse effect on the companies’ stock price and the Fund’s performance.

WBIY is not actively managed and the Sub-Advisor does not attempt to take defensive positions in declining markets. Unlike many investment companies, the Fund does not utilize an investing strategy that seeks returns in excess of its Underlying Index.

For a full list of investment risks associated with the funds, including but not limited to market risk, portfolio turnover risk, securities business risk, mortgage-backed securities risk, master limited partnership risk, real estate investment trust risk, ETF risk, and trading price risk, please read the prospectus.