Sound Enhanced Fixed Income ETF
Key Statistics
Historical Performance
Total return including reinvested distributions, from adjusted closing prices.
Price History
Price history is being compiled for this fund.
Top Holdings
Top 25 holdings as of Feb 28, 2026 · source: SEC N-PORT. Full holdings & prospectus →
About FXED
TheFund is an actively-managed exchange-traded fund (“ETF”) that seeks to achieve its investment objective by investingprimarily in fixed income securities. Investment decisions for the Fund are made by Sound Income Strategies, LLC (“SIS”or the “Sub-Adviser”), the Fund’s sub-adviser. The Fund will invest in a combination of investment grade andbelow investment grade (often referred to as “high yield” or “junk” bonds) debt securities. Typically,the Fund’s portfolio will have an approximate equal weighting of investment grade and high yield debt securities; however,the Fund’s portfolio weighting will be adjusted from time to time based on the assessment of the Sub-Adviser. “Investmentgrade” debt securities are rated in one of the top four rating categories by nationally recognized statistical rating organizationssuch as Moody’s Investors Service, Inc. (Moody’s) or S&P Global Ratings (S&P). Inmaking investment decisions for the Fund, the Sub-Adviser uses a fundamental, “bottom-up” approach to analyzing individualdebt securities. The Sub-Adviser considers the expected return of each security taking into account the yield, duration, and option-adjustedspread (“OAS”) of individual debt securities. OAS measures the difference in yield between a debt security with anembedded option, such as a callable bond, and a debt security with no embedded option, such as U.S. Treasuries. OAS considershow a debt security’s embedded option can change the future cash flows and thus the overall value of the security. Withinthe Fund’s investment universe, the Sub-Adviser categorizes securities into component groups based on factors includingindustry, sector, credit rating, duration, and security type. The Sub-Adviser estimates expected returns based on a yield component(spread above U.S. Treasuries) and a capital appreciation component (price appreciation or depreciation) for each component group.The Sub-Adviser will then make any needed adjustments to securities in the Fund’s portfolio or their weightings, with thegoal of purchasing securities that the Sub-Adviser believes are inexpensive relative to other securities in the same or similarasset class. The Sub-Adviser also considers an issuer’s leverage and cash flow over a 12- to 24-month period, based on ananalysis of publicly available filings. The Sub-Adviser continually analyzes market and financial data to make buy, sell, andhold decisions. When the Sub-Adviser believes that a security has achieved a price equal to or greater than its fair-value, theSub-Adviser will look to liquidate or replace the security with another perceived mispriced security when available. Undernormal market conditions, the Fund will invest at least 80% of its net assets (plus any borrowing) in fixed income securities.The Fund’s investments in fixed income securities will typically include U.S. corporate bonds, preferred stock and ETFsthat invest in bonds, sovereign debt, and private placement debt securities. The Fund may also invest in fixed income securitiesissued by U.S. and foreign corporations, securities issued by governments and their agencies, instrumentalities, or sponsoredcorporations, including supranational organizations. The Fund’s investments in fixed income securities will also includeshares of business development companies (“BDCs”) and real estate investment trusts (“REITs”). Investmentsin BDCs and REITs are intended to provide the “enhanced” component of the Fund’s strategy because these securitiestypically pay a higher yield than traditional investment-grade bonds and preferred stocks. The Fund may also invest in fixed incomesecurities that are illiquid, thinly traded or subject to special resale restrictions, such as those imposed by Rule 144A promulgatedunder the Securities Act of 1933, as amended (the “Securities Act”). TheFund may invest in fixed income securities of any duration. Duration is a measure of the expected life of a bond that is usedto determine the sensitivity of an instrument’s price to changes in interest rates. For example, the price of a bond fundwith an average duration of three years generally would be expected to fall approximately 3% if interest rates rose by one percentagepoint. The Fund may invest in fixed income securities of any market capitalization.
FXED News
Data for FXED is aggregated from third-party providers (Tiingo, Nasdaq, Finnhub) and SEC filings, may be delayed at least 20 minutes, and may be incomplete or contain errors. Nothing here is investment advice. Verify with the official prospectus before investing.