Steven Carhart and James Copell of TFMS discuss the TFMS HIPS 300 Index

Trust & Fiduciary Management rings the NYSE opening bell

 

October 13, 2016

The Master Income ETF (NYSE: HIPS) Declares Monthly Distribution

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January 21, 2016

Master Income ETF (NYSE: HIPS) Gets Nominated for “Best New Asset Allocation ETF”

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August 17, 2015

The Master Income ETF (NYSE: HIPS) Declares Monthly Distribution

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February 17, 2015

The Master Income ETF (NYSE: HIPS) Declares Monthly Distribution

Click here to read the press release

January 22, 2015

A New Income Oriented Multi-Asset ETF (HIPS) Hits the Market

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January 8, 2015

New ETF Goes Deep in Search of Income

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January 8, 2015

Master Income ETF Launched on NYSE

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ETF.com Award winners are selected in a three-part process designed to leverage the insights and opinions of leaders throughout the ETF industry. Step 1: The awards process began with an open nominations process, which started Dec. 1 and closed Dec. 31. Interested parties were invited to submit nominations. Self-nominations were accepted. Step 2: Following the open nominations process, the ETF.com Awards Nominating Committee—made up of senior leaders at ETF.com and senior members of the FactSet ETF team (whose data powers the ETF.com website) — voted to select up to five finalists in each category. Votes were cast on a majority basis, and ties broken, where possible, with head-to-head runoff votes. If ties could not be broken, more than five finalists were allowed. The nomination voting was completed on Jan. 11, 2016. Step 3: Winners among these finalists will be selected by a majority vote of the ETF.com Awards Selection Committee, a group of independent ETF experts from throughout the ETF community. Committee members will recuse themselves from voting in any category in which they or their firms appear as finalists. Ties will be decided, where possible, with head-to-head runoff votes. The Best New Asset Allocation ETF – 2015 will be awarded to the most important ETF launched in 2015 that combines exposure to multiple asset classes. Note: Importance is measured by the overall contribution to positive investor outcomes. The award may recognize an ETF that opens new areas of the market, lowers costs, drives risk-adjusted performance or provides innovative exposures not previously available to most investors. Only ETFs with inception dates after Jan. 1, 2015, are eligible. The ETF must be classified by FactSet as an asset allocation ETF to qualify.

Opinions expressed are subject to change at any time, are not guaranteed and should not be considered investment advice. References to other mutual funds or products should not be interpreted as an offer of these securities.

Past performance is no guarantee of future results.

ETFs, business development companies (BDCs), real estate investment trusts (REITS), master limited partnerships (MLPs), equities, bonds, and other asset classes have different risk profiles, which should be considered when investing. All investments contain risk and may lose value.

Any tax or legal information provided is merely a summary of the authors understanding and interpretation of some of the current income tax regulations and it is not exhaustive. Investors must consult their tax advisor or legal counsel for advice and information concerning their particular situation. Neither the Funds nor any of its representatives may give legal or tax advice.

The TFMS HIPS 300 Index is constructed to capture 300 high income securities, typically with pass-through structures, across the following sectors: (i) closed-end funds (“CEFs”), (ii) mortgage real estate investment trusts (“REITs”), (iii) commercial equity REITs, (iv) residential/diversified REITs, (v) asset management and business development companies (“BDCs”), and (vi) energy production and energy transportation & processing companies. Energy-related companies included in the Index are expected to primarily be structured as master limited partnerships (“MLPs”). The instruments in which such CEFs invest may include debt securities of any maturity or quality. CEFs included in the Index are limited to taxable, debt-based funds and may include CEFs that invest primarily in bank loans, high-yield securities (also known as “junk bonds”), foreign securities (including those in emerging markets), and mortgage- or asset-backed securities. The Index applies a quantitative screen to the securities in such sectors for minimum sector-specific yields relative to the yield of the S&P 500® Index, minimum market capitalizations and minimum liquidity thresholds. The Index may include small-, mid-, and large-capitalization companies meeting the screening criteria. The Index is rebalanced semi-annually, and securities in the Index are market capitalization weighted at the time of each rebalance. The Index’s exposure to each of the above sectors is capped at 25% of the total Index at the time of each rebalance. Additionally, at the time of each rebalance, the Index’s exposure to an individual security is capped at 20% of the Index’s exposure to that security’s sector.

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Fund holdings and sector allocations are subject to change and are not recommendations to buy or sell any security.

A Basis point (bps) is a unit equal to 1/100th of 1% and is used to denote the change in a financial instrument.
 
Correlation is a statistical measure of the degree to which the movements of two variables (stock/option/convertible prices or returns) are related.

Investing involves risk; Principal loss is possible. Investments in debt securities typically decrease when interest rates rise. This risk is usually greater for longer term debt securities. Investments in lower rated and non-rated securities present a greater risk of loss to principal and interest than higher rated securities. Investments in foreign securities involves greater volatility and political, economic, and currency risks and differences in accounting methods. Investments in smaller companies involve additional risks, such as limited liquidity and greater volatility. MLPs are subject to certain risks inherent in the structure of MLPs, including complex tax structure risks, limited ability for election or removal of management, limited voting rights, potential dependence on parent companies or sponsors for revenues to satisfy obligations, and potential conflicts of interest between partners, members and affiliates. Investments in asset-backed and mortgage-backed securities include additional risks including credit risk, prepayment risk, possible illiquidity and default, as well as increased susceptibility to adverse economic developments. A REIT’s share price may decline because of adverse developments affecting the real estate industry. Unlike mutual funds, ETFs may trade at a premium or discount to their net asset value. Shares of any ETF are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Brokerage commissions will reduce returns.

An investment in the Fund does not receive the same tax advantages as a direct investment in a Pass-Thru Security. Funds accrue deferred income taxes for future tax liabilities associated with the portion of Pass-Thru Security distributions considered to be a tax-deferred return of capital and for any net operating gains as well as capital appreciation of its investments. This deferred tax liability is reflected in the daily NAV and as a result the Fund's after-tax performance could differ significantly from the underlying assets even if the pre-tax performance is closely tracked. The potential tax benefits from investing in Pass-Thru Securities depend on them being treated as partnerships for federal income tax purposes.

Diversification does not assure a profit or protect against loss in a declining market.

Carefully consider the Funds' investment objectives, risk factors, charges and expenses before investing. This and additional information can be found in the Funds’ prospectus, which may be obtained by clicking here. Read the prospectus carefully before investing.

The TFMS HIPS 300 Index is constructed to capture 300 high income securities, typically with pass-through structures, across the following sectors: (i) closed-end funds (“CEFs”), (ii) mortgage real estate investment trusts (“REITs”), (iii) commercial equity REITs, (iv) residential/diversified REITs, (v) asset management and business development companies (“BDCs”), and (vi) energy production and energy transportation & processing companies. Energy-related companies included in the Index are expected to primarily be structured as master limited partnerships (“MLPs”). CEFs included in the Index are limited to taxable, debt-based funds and may include CEFs that invest primarily in bank loans, high-yield securities (also known as “junk bonds”), foreign securities (including those in emerging markets), and mortgage- or asset-backed securities. One may not directly invest in an index.

The Standard & Poor's 500 Index (S&P 500) is an index of 500 stocks chosen for market size, liquidity and industry grouping, among other factors. The S&P 500 is designed to be a leading indicator of U.S. equities and is meant to reflect the risk/return characteristics of the large cap universe.

Duration is a measure of the sensitivity of the price (the value of principal) of a fixed-income investment to a change in interest rates. Duration is expressed as a number of years. Rising interest rates mean falling bond prices, while declining interest rates mean rising bond prices.

This information is not an offer to sell or a solicitation of an offer to buy shares of any Funds to any person in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction.

Please consult your tax advisor about the tax consequences of an investment in Fund shares, including the possible application of foreign, state, and local tax laws.

Exchange Traded Concepts, LLC serves as the investment advisor and Master Income ETF. The Funds are distributed by Quasar Distributors, LLC, which is not affiliated with Exchange Traded Concepts, LLC or any of its affiliates.