SMDY
Syntax Stratified MidCap ETF
SMDY tracks an index that holds all constituents of the S&P 400 Index, reweighted to diversify related business risk.
US
EQUITY
Rules-Based
MANAGEMENT STYLE
6.7 M
ASSETS UNDER MGMT
35 bp
EXPENSES
Fund Basics
| Fund sponsor | Syntax Advisors |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Jan 17, 2020 |
| Assets (mns) | $7 |
| Expense ratio | 35 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Annually |
| Taxation | 1099 |
| Stock selection | Committee |
| Weighting | Tiered |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| SCOTTS MIRACLE-GRO CO-CL A | 1.8 % |
| COTY INC-CL A | 1.7 % |
| FRONTIER COMMUNICATIONS PARENT, INC. | 1.3 % |
| IRIDIUM COMMUNICATIONS INC. | 1.3 % |
| CIENA CORP | 1.2 % |
| DOXIMITY, INC. CLASS A | 1.1 % |
| J2 GLOBAL COMMUNICATIONS INC | 1.0 % |
| QUALYS INC | 0.8 % |
| DYNATRACE, INC. | 0.7 % |
| SABRA HEALTH CARE REIT INC | 0.7 % |
Constituent Breakdown
| Number of holdings | 402 |
| Herfindahl-Hirschman Index | 44 |
| Wgt avg mkt cap (mns) | $8,272 |
| Large cap (>$10bn) | 34.1% |
| Mid cap ($2-10bn) | 64.6% |
| Small cap (<$2bn) | 0.9% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 93.6 % |
 |
BRITAIN | 1.6 % |
 |
IRELAND | 1.0 % |
 |
BERMUDA | 0.9 % |
Historical Performance
Standardized Performance (as of 11/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | -- | -- | -- | -- | -- | -- | -- | Volatility | 16.2% | 17.0% | 17.8% | 20.6% | -- | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.08 | 85% |
| MSCI EAFE | 1.06 | 81% |
| MSCI Emg Mkts | 0.78 | 42% |
Liquidity Measures
| Avg. volume (000) | 0 |
| Turnover | 0.0% |
| Avg. Bid/Ask (% of price) | 0.19% |
| ADV of underlying (mns) | $26,000 |
Technical Indicators
| Recent close | $44.16 |
| 30d moving avg. | $78.54 |
| Annualized volatility | 21.1% |
| Relative strength (RSI) | 53 |
| Short interest (ETF) | 0.0% |
| Short interest (underlying) | 5.8% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. SMDY |
Expenses vs. SMDY |
ALTAR Score™ vs. SMDY |
|---|---|---|---|---|
| MDY | SPDR S&P Midcap 400 ETF Trust | 62.0% | -11 bp | +1.1% |
| IJH | iShares Core S&P Mid-Cap ETF | 61.9% | -30 bp | +1.3% |
| IVOO | Vanguard S&P Mid-Cap 400 ETF | 61.4% | -25 bp | +1.2% |
| SPMD | SPDR Portfolio S&P 400 Mid Cap ETF | 61.0% | -32 bp | +1.3% |
| XJH | iShares ESG Screened S&P Mid-Cap ETF | 59.7% | -23 bp | +1.4% |
| QVMM | Invesco S&P MidCap 400 QVM Multi-factor ETF | 59.4% | -20 bp | +1.6% |
| MIDE | Xtrackers S&P MidCap 400 ESG ETF | 52.4% | -20 bp | +1.8% |
| IJJ | iShares S&P Mid-Cap 400 Value ETF | 50.0% | -17 bp | +1.9% |
| IVOV | Vanguard S&P Mid-Cap 400 Value ETF | 49.7% | -20 bp | +1.9% |
| MDYV | SPDR S&P 400 Mid Cap Value ETF | 49.5% | -20 bp | +1.9% |
Risk and Returns: SMDY vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2023 | 2024E | Fwd Est | 2025E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 9/27/2024
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Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
SMDY
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
NEUTRAL
Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.
ALTAR Score™
SMDY
5.4%
Cat. Avg
5.6%
ALTAR Score™ Calculation
Category Overview
There are 977 funds in the US Equity category, with an average ALTAR Score™
of 5.6% and a standard deviation of
2.6%. SMDY's ALTAR Score™ is approximately
0.1 standard deviations
below
the category average. This places SMDY in the 47th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
SMDYSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Rules-Based US Equity ETFs |
| # of ETFs | 609 |
| Avg. Expense Ratio | 46.6 bp |
| Std. Deviation | 32.9 bp |
| SMDY (35 bp) Percentile rank | 37 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| SMDY | 35.0 | 19.3 | 54.3 |
| Peer Avg. | 30.3 | 14.0 | 44.3 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .