3535 Blue Cross Road, Eagan, MN. March 1st, 2019 — Aware Asset Management, a Minnesota-based asset manager focused on fixed-income portfolio management, today announced that it has declared its first monthly distribution.
Shareholders of record on March 4, 2019, will be paid a cash distribution of $0.1325 per share by the ETF on March 6, 2019. This distribution rate supports the strategy’s objective of achieving a gross yield of 0.75% to 1.00% over the most recently-issued 3-month U.S. Treasury Bill Yield. The ex-dividend date of this distribution is March 1, 2019.
AWTM launched on January 29, 2019, in conjunction with Tidal ETF Services and offers the hallmark benefits of the ETF structure, including transparency, liquidity, and the ability to trade throughout the day. The fund maintains an expense ratio of 0.23%.
Built from the ground up, AWTM offers the opportunity for attractive yields in a diversified basket and has less exposure to interest rates due to its ultra-short duration, which Aware defines as less than 1 year. Moreover, the active management provides fixed income investors with the opportunity to outperform and enables portfolio managers to quickly respond to changing market conditions. "We see AWTM as a potential alternative to commercial paper for treasury managers with greater liquidity due to its exchange-traded structure,” said John Kaprich, CFA, Investment Director.
Tidal ETF Services CEO Eric Falkeis also announced that AWTM’s shares outstanding have already surpassed 1 million in under 30-days. Said Falkeis, “This is a significant achievement. Tidal ETF Services is very excited to be a leading partner for a new generation of ETFs.”
About Aware Asset Management
Aware Asset Management has leveraged over 100 years of combined experience servicing the unique cash and risk management needs of the insurance industry to build an innovative new ETF for treasury managers. Aware Asset Management navigates global markets by combining a collaborative investment process with in-depth research and analysis, efficiently using our proprietary models and trading technology to deliver superior investment products.
About Tidal ETF Services
Formed by ETF industry pioneers and thought leaders, Tidal ETF Services LLC sets out to disrupt the way ETFs have historically been developed, launched, marketed and sold. With a focus on helping ETF issuers, Tidal offers a comprehensive suite of services, proprietary tools, and methodologies designed to bring lasting ideas to market. As advocates for ETF innovation. Tidal wants investors to have insight and access to the most interesting and viable ETFs available today. For more information visit tidaletfservices.com.
CEO, Tidal ETF Services
Before investing you should carefully consider the Fund’s investment objectives, risks, charges and expenses. This and other information is in the prospectus. A prospectus may be obtained by visiting the Fund website, www.awareetf.com. Please read the prospectus carefully before you invest.
For the purpose of the Fund’s yield target, yield is defined as the weighted average yield-to-maturity of the Fund’s holdings. The yield or total return obtained by Fund shareholders may be different. Yield-to-maturity is the return from a fixed income instrument assuming the instrument is held to maturity. There is no guarantee that the fund will meet its income target.
The Fund is not a money market fund and does not seek to maintain a stable NAV of $1.00 per Share. An investment in the fund involves risk, including possible loss of principal. There is no guarantee that the Fund will achieve or maintain a status or credit quality equivalent to “investment grade.”
As with all ETFs, Fund shares may be bought and sold in the secondary market at market prices. The market price normally should approximate the Fund’s net asset value per share (NAV), but the market price sometimes may be higher or lower than the NAV. The Fund is new with a limited operating history. There are a limited number of financial institutions authorized to buy and sell shares directly with the Fund; and there may be a limited number of other liquidity providers in the marketplace. There is no assurance that Fund shares will trade at any volume, or at all, on any stock exchange. Low trading activity may result in shares trading at a material discount to NAV.
Since the Fund is actively managed it does not seek to replicate the performance of a specified index. The Fund therefore may have higher portfolio turnover and trading costs than index-based funds. The Fund may invest in other funds, and in so doing will incur the expenses and risks of those funds.
The Fund uses short sales and derivatives (forwards, futures, swaps, and options), both of which may involve substantial risk. The loss on a short sale is in principle unlimited since there is no upward limit on the price of a shorted asset. The potential loss from a derivative may be greater than the amount invested due to counter-party default; illiquidity; or other factors. The Fund may hold illiquid assets (such as private placements) which may cause a loss if the Fund is unable to sell an asset at a beneficial time or price.
Diversification does not ensure a profit or protect against loss in declining markets.
Shares of the Fund are distributed by Foreside Fund Services, LLC.