Sage ESG Intermediate Credit ETF (GUDB)

Fund Objective

The Sage ESG Intermediate Credit ETF seeks to provide investors access to a diversified portfolio of investment grade corporate bonds issued by companies with best-in-class ESG characteristics, strong fundamentals, and a high degree of liquidity. This ETF tracks the Sage ESG Credit Intermediate Index.

As of 12/06/2019

Performance History

1 DAY 1 MO. 3 MO. 6 MO. 1 YR. QTD YTD SINCE
INCEPTION4
NAV $51.12 -0.12% 0.27% 0.34% 3.25% 9.22% 0.43% 8.29% 3.72%
Market Price $51.25 0.08% 0.65% 0.44% 3.39% 9.75% 0.53% 8.85% 3.80%

As of 09/30/2019

Quarter-End Performance History

1 MO. 3 MO. 6 MO. 1 YR. QTD YTD SINCE
INCEPTION4
NAV -0.17% 1.65% 4.41% 8.69% 1.65% 7.82% 3.85%
Market Price -0.16% 1.77% 4.46% 8.95% 1.77% 8.28% 3.89%

Distribution Schedule

Distribution History

Ex-Date Record Date Pay Date Short-Term Capital Gains Long-Term Capital Gains Dividend Income Total Distribution
11/15/2019 11/18/2019 11/25/2019 0 0 0.0989 0.0989
10/15/2019 10/16/2019 10/21/2019 0 0 0.1125 0.1125
09/16/2019 09/17/2019 09/23/2019 0 0 0.1095 0.1095
08/15/2019 08/16/2019 08/21/2019 0 0 0.1227 0.1227
07/15/2019 07/16/2019 07/22/2019 0 0 0.1093 0.1093
As of 12/06/2019

Top 10 Holdings

NAME SYMBOL NET ASSET % MARKET PRICE($) SHARES HELD MARKET VALUE
US DOLLARS USD 4.88 % 1.00 873,955.04 873,955.04
Automatic Data Processing Inc 3.375000 09/15/2025 053015AE3 2.08 % 106.58 349,000.00 371,980.74
CIGNA CORP 3.75% 07/15/2023 125523AF7 1.61 % 104.85 275,000.00 288,338.64
Las Vegas Sands Corp 3.9% 8/8/2029 517834AF4 1.27 % 103.51 220,000.00 227,732.36
Western Midstream Operating LP 4.650000 958254AF1 1.27 % 100.67 225,000.00 226,498.43
Jefferies Group LLC / Jefferies Group Capital 47233JBH0 1.27 % 102.95 220,000.00 226,491.53
Comcast Corp 3.300000 02/01/2027 20030NBY6 1.26 % 105.95 213,000.00 225,675.97
JPMorgan Chase & Co 2.295000 08/15/2021 46623EKG3 1.26 % 100.17 225,000.00 225,371.74
State Street Corp 3.550000 08/18/2025 857477AT0 1.26 % 107.21 210,000.00 225,147.67
CNH Industrial NV 4.500000 08/15/2023 12594KAA0 1.26 % 107.19 210,000.00 225,095.85
DOWNLOAD ALL HOLDINGS (.CSV)


FUND DETAILS
As of 12/06/2019
Ticker
GUDB
NAV
$51.12
Market Price1
$51.25
Premium Discount
$ 0.13
Primary Exchange
BATS
Cusip
66538H583
Inception Date
10/31/2017
Net Assets
$17,893,581.59
Shares Outstanding
350,000
Three Month Average Volume
460
Gross Expense Ratio
1.29%
Net Expense Ratio2
0.35%
IOPV Ticker
GUDB.IV
Related Index Ticker
GUDBESG
30 - Day SEC Yield3
2.16
Distribution Rate
2.88


*Holdings are subject to change. Holdings and percent of assets are based on security assets only, not including cash or receivables (unpaid interest and dividends). There is no assurance the fund will continue to make distributions.

1Bid/Ask Midpoint as of market close.

2The Fund’s adviser has contractually agreed to reduce its fees and/or absorb expenses of the Fund, until at least December 31, 2018 to ensure that total annual fund operating expenses after fee waiver and/or reimbursement (exclusive of any front-end or contingent deferred loads, taxes, brokerage fees and commissions, borrowing costs (such as interest and dividend expense on securities sold short), acquired fund fees and expenses, fees and expenses associated with investments in other collective investment vehicles or derivative instruments (including for example option and swap fees and expenses), or extraordinary expenses such as litigation) will not exceed 0.35% of the Fund. This fee waivers and expense reimbursements are subject to possible recoupment from the Fund in future years (within the three years after the fees have been waived or reimbursed), if such recoupment can be achieved within the lesser of the foregoing expense limits or those in place at the time of recapture. This agreement may be terminated only by the Trust’s Board of Trustees, on 60 days’ written notice to the Fund’s adviser.

3SEC Yield and Distribution Rate calculations are based on most recent Ex-Date. Distribution Rate reflects the total distributions over the previous 12 months. SEC Yield and Distribution Rate may include income, dividends, return of capital, or other distributions that are not considered short-term or long-term capital gains. Return of capital is considered a return of the investment principal and is not derived from net profits.

4The Inception date of the Sage ESG Intermediate Credit ETF is 10/31/2017

Past performance is no guarantee of future results. The performance data quoted here represents past performance. Current performance may be lower or higher than the performance data quoted above. Investment return and principal value will fluctuate, so that shares, when redeemed, may be worth more or less than their original cost.

Sage Funds are bought and sold at market price (not NAV) and are not individually redeemed from the fund. Brokerage commissions will reduce returns.

Market Price returns are based upon the midpoint of the bid/ask spread at 4:00 p.m. ET when NAV is normally determined for most Sage Funds, and do not represent the returns you would receive if you traded shares at other times.

Investors should carefully consider the investment objectives, risks, charges and expenses of the Sage ESG Intermediate Credit ETF. This and other important information about the Fund is contained in the prospectus, which can be obtained by calling 888-724-3911. The prospectus should be read carefully before investing. The Fund is distributed by Northern Lights Distributors, LLC, Member FINRA/SIPC. Sage Advisory Services LTD Co. and Northern Lights Distributors, LLC are not affiliated.