BFIX

Build Bond Innovation ETF

NAV:
$22.89
Market Price:
$22.96
NAV Change:
-$0.12 / -0.52%
Market Price Change:
-$0.03 / -0.14%
as of 2023-01-31

Fund Objective

The Build Bond Innovation ETF is an actively-managed bond fund that seeks risk mitigation and growth via a mix of fixed income and equity options. The ETF typically has 90% to 95% of its holdings in investment grade bonds, with the remaining assets seeking upside by using a long only options overlay. The fund is designed to be used as a core bond complement. It seeks to outperform the Bloomberg US Aggregate Bond Index over a full market cycle without taking on excess risk.

 

Why use BFIX?

    • BFIX may appeal to investors with conservative or risk mitigation objectives
    • Seeks to mitigate credit and interest rate risk with investment grade bond core with duration typically shorter than benchmark
    • Equity options overlay seeks enhanced total return profile vs. benchmark
    • Monthly dividend distribution provides income
BFIX portfolio construction pie chart. Investment grade fixed income core makes up majority of pie. Rules-based options overlay tied to S&P 500 Index makes up small portion of pie chart.

How to use BFIX

Core Bond Allocation

  • Use to complement or replace a core fixed income or investment grade credit exposure
  • BFIX seeks to provide higher total returns for a similar risk profile to the benchmark, without reaching for yield or taking long duration risk

Risk Mitigation

  • Use to seek lower downside risk, while retaining attractive upside and downside capture profile
  • May increase credit quality and reduce volatility for a high yield bond allocation

Portfolio Diversification

  • With its unique structure, BFIX may have lower correlations to traditional equity and fixed income exposures, offering diversification benefits to a multi-asset class portfolio

Fund Overview

as of 2023-01-27
Ticker Symbol:BFIX
Gross Expense Ratio:0.50%
NAV:$22.89
NAV Change:-$0.12 / -0.52%
Market Price:$22.96
Market Price Change:-$0.03 / -0.14%
CUSIP:12009B101
Total Assets:$17,164,655.51
Shares Outstanding:750000
Inception Date:2022-02-09
Premium Discount:0.32%
30 Day Median Bid Ask Spread:0.35%

Monthly Fund Performance

as of 2022-12-31
Cumulative
 1mo3mo6mo1yrSince Inception
NAV-0.14%0.89%-1.01%--7.27%
Market Price-0.15%0.91%-0.97%--7.16%
Bloomberg US Agg Total Return-0.45%1.87%-2.97%--10.11%
Annualized
 1yr3yr5yrSince Inception
NAV----
Market Price----

Quarterly Fund Performance

as of 2022-12-31
Cumulative
 1mo3mo6mo1yrSince Inception
NAV-0.14%0.89%-1.01%--7.27%
Market Price-0.15%0.91%-0.97%--7.16%
Bloomberg US Agg Total Return-0.45%1.87%-2.97%--10.11%
Annualized
 1yr3yr5yrSince Inception
NAV----
Market Price----

NAV, or Net Asset Value: The dollar value of a single share, based on the value of the underlying assets of the fund minus its liabilities, divided by the number of shares outstanding. Calculated at the end of each business day. Market Price: The current price at which shares are bought and sold. Market returns are based upon the last trade price.

Distribution Information

Distribution Information
Distribution Frequency: Monthly
30 Day SEC Yield: 4.28
Ex-Div DateRecord DatePayable DateAmount ($)Amount (%)
2023-01-272023-01-302023-01-31$0.138736770.6061%
2022-12-232022-12-272022-12-30$0.069908370.3061%
2022-11-282022-11-292022-11-30$0.077632800.3393%
2022-10-272022-10-282022-10-31$0.054888820.2405%
2022-09-282022-09-292022-09-30$0.054308320.2374%
2022-08-292022-08-302022-08-31$0.042103090.1812%
2022-07-272022-07-282022-07-29$0.013043440.0557%
2022-06-282022-06-292022-06-30$0.015177400.0650%
2022-05-262022-05-272022-05-31$0.013593440.0569%
2022-04-272022-04-282022-04-29$0.010711580.0448%
2022-03-292022-03-302022-03-31$0.009786970.0400%

Portfolio Holdings

as of 2023-01-31

Download Holdings

TickerCUSIPNameMarket ValueWeight
91282CCC391282CCC3UNITED STATES TREAS NTS 0.25% 05/15/2024$1,511,875.018.82%
912828VS6912828VS6UNITED STATES TREAS NTS 2.5% 08/15/2023$1,383,192.788.07%
912828S92912828S92UNITED STATES TREAS NTS 1.25% 07/31/2023$982,563.055.73%
91282CAF891282CAF8UNITED STATES TREAS NTS 0.125% 08/15/2023$975,299.195.69%
91282CDR991282CDR9UNITED STATES TREAS NTS 0.75% 12/31/2023$964,222.685.63%
91282CDV091282CDV0UNITED STATES TREAS NTS 0.875% 01/31/2024$962,117.195.61%
91282CBR191282CBR1UNITED STATES TREAS NTS 0.25% 03/15/2024$951,562.505.55%
91282CBV291282CBV2UNITED STATES TREAS NTS 0.375% 04/15/2024$949,453.125.54%
91282CEA591282CEA5UNITED STATES TREAS NTS 1.5% 02/29/2024$917,688.705.35%
912828YM6912828YM6UNITED STATES TREAS NTS 1.5% 10/31/2024$903,891.605.27%
91282CCG491282CCG4UNITED STATES TREAS NTS 0.25% 06/15/2024$895,263.675.22%
912828ZT0912828ZT0UNITED STATES TREAS NTS 0.25% 05/31/2025$891,648.935.20%
91282CCU391282CCU3UNITED STATES TREAS NTS 0.125% 08/31/2023$681,507.493.98%
91282CDA691282CDA6UNITED STATES TREAS NTS 0.25% 09/30/2023$582,276.633.40%
912810SN9912810SN9UNITED STATES TREAS BDS 1.25% 05/15/2050$547,770.323.20%
91282CDJ791282CDJ7UNITED STATES TREAS NTS 1.375% 11/15/2031$419,667.972.45%
59156RBB359156RBB3METLIFE INC 4.368% 09/15/2023$253,076.461.48%
29250NBG929250NBG9ENBRIDGE INC MTN CDS- 0.55% 10/04/2023$151,472.020.88%
931142DH3931142DH3WALMART INC 2.55% 04/11/2023$119,477.210.70%
34964CAC034964CAC0FORTUNE BRANDS INNOVATIONS INC SR NT 4% 23 4% 09/21/2023$99,332.950.58%
00724PAA700724PAA7ADOBE INC 1.7% 02/01/2023$100,000.000.58%
377373AL9377373AL9GLAXOSMITHKLINE CAP PLC 0.534% 10/01/2023$97,172.360.57%
931142AU7931142AU7WALMART INC 6.75% 10/15/2023$75,890.540.44%
928563AG0928563AG0VMWARE INC 0.6% 08/15/2023$75,200.770.44%
911312BK1911312BK1UNITED PARCEL SVCS INC 2.5% 04/01/2023$71,739.460.42%
00817YAV000817YAV0AETNA INC NEW 2.8% 06/15/2023$72,417.120.42%
29278NAL729278NAL7ENERGY TRANSFER L P 4.25% 03/15/2023$68,948.570.40%
03027XAD203027XAD2AMERICAN TOWER CORP 5% 02/15/2024$64,930.290.38%
SPY 231215C00420000SPY 231215C00420000SPY US 12/15/23 C420$65,880.000.38%
SPY 230616C00381000SPY 230616C00381000SPY OPTI CLL OPT 06/23 381$59,865.500.35%
26875PAK726875PAK7EOG RES INC 2.625% 03/15/2023$58,819.830.34%
046353AR9046353AR9ASTRAZENECA PLC 3.5% 08/17/2023$51,637.990.30%
SPY 230915C00395000SPY 230915C00395000SPY OPTI CLL OPT 09/23 395$52,120.000.30%
89352HAK589352HAK5TRANSCANADA PIPELINE STRIP 3.75% 10/16/2023$49,563.970.29%
485170AV6485170AV6KANSAS CITY SOUTHERN 3% 05/15/2023$48,759.340.28%
03073EAS403073EAS4AMERISOURCEBERGEN CORP 0.737% 03/15/2023$42,786.910.25%
501044CS8501044CS8KROGER CO 3.85% 08/01/2023$39,768.880.23%
05348EAR005348EAR0AVALONBAY CMNTYS INC 2.85% 03/15/2023$39,912.340.23%
316773CZ1316773CZ1FIFTH THIRD BANCORP 1.625% 05/05/2023$38,675.690.23%
718172AV1718172AV1PHILIP MORRIS INTL INC 2.625% 03/06/2023$33,932.310.20%
14912L5Q014912L5Q0CATERPILLAR FINL SVCS MTNS BE FR 2.625% 030123 2.625% 03/01/2023$34,941.490.20%
24422ETG424422ETG4DEERE JOHN CAPITAL CORP 2.8% 03/06/2023$32,950.900.19%
61746BDJ261746BDJ2MORGAN STANLEY 3.75% 02/25/2023$28,970.270.17%
036752AQ6036752AQ6ELEVANCE HEALTH INC 0.45% 03/15/2023$29,837.620.17%
478160BT0478160BT0JOHNSON & JOHNSON 2.05% 03/01/2023$27,947.220.16%
959802AX7959802AX7WESTERN UN CO 4.25% 06/09/2023$26,972.130.16%
26442UAF126442UAF1DUKE ENERGY PROGRESS LLC 3.375% 09/01/2023$27,749.460.16%
828807DD6828807DD6SIMON PPTY GROUP LP 2.75% 06/01/2023$26,796.780.16%
494550BM7494550BM7KINDER MORGAN ENERGY PARTNERS SR GLBL NT 23 3.45% 02/15/2023$24,989.260.15%
151020AX2151020AX2CELGENE CORP 2.75% 02/15/2023$24,978.810.15%
29278NAC729278NAC7ENERGY TRANSFER L P 4.2% 09/15/2023$23,817.930.14%
037833DV9037833DV9APPLE INC 0.75% 05/11/2023$24,725.840.14%
86765BAN986765BAN9SUNOCO LOGISTICS PARTNERS 4.25% 04/01/2024$24,705.560.14%
133131AS1133131AS1CAMDEN PPTY TR 4.875% 06/15/2023$21,958.400.13%
38141GWT738141GWT7GOLDMAN SACHS GROUP INC 3.2% 02/23/2023$22,976.020.13%
75886AAJ775886AAJ7REGENCY ENERGY PARTNERS LP 4.5% 11/01/2023$19,891.450.12%
666807BG6666807BG6NORTHROP GRUMMAN CORP 3.25% 08/01/2023$19,885.800.12%
049560AU9049560AU9ATMOS ENERGY CORP 0.625% 03/09/2023$20,936.160.12%
826418BJ3826418BJ3SIERRA PAC PWR CO 3.375% 08/15/2023$19,820.440.12%
437076AZ5437076AZ5HOME DEPOT INC 2.7% 04/01/2023$18,933.600.11%
31847RAE231847RAE2FIRST AMERN FINL CORP 4.3% 02/01/2023$19,000.000.11%
718172CQ0718172CQ0PHILIP MORRIS INTL INC 1.125% 05/01/2023$17,829.690.10%
375558BW2375558BW2GILEAD SCIENCES INC 0.75% 09/29/2023$17,505.610.10%
12189LAM312189LAM3BURLINGTON NORTHN SANTA FE CP SR GLBL DEB 3% 23 3% 03/15/2023$15,970.000.09%
59562VAY359562VAY3MIDAMERICAN ENERGY HLDGS NEW SR NT 3.75% 23 3.75% 11/15/2023$14,920.130.09%
369550AW8369550AW8GENERAL DYNAMICS CORP 1.875% 08/15/2023$14,758.160.09%
74251VAH574251VAH5PRINCIPAL FINANCIAL GROUP INC SR NT 3.125% 23 3.125% 05/15/2023$12,938.280.08%
872540AP4872540AP4TJX COS INC NEW 2.5% 05/15/2023$12,910.790.08%
94106LBD094106LBD0WASTE MGMT INC DEL 2.4% 05/15/2023$12,902.240.08%
595620AK1595620AK1MIDAMERICAN ENERGY COMPANY 3.7% 09/15/2023$13,883.710.08%
03027XAB603027XAB6AMERICAN TOWER CORP 3.5% 01/31/2023$10,000.000.06%
26442CAQ726442CAQ7DUKE ENERGY CAROLINAS LLC 2.5% 03/15/2023$10,973.360.06%
054561AC9054561AC9EQUITABLE HLDGS INC 3.9% 04/20/2023$10,980.790.06%
00287YAX700287YAX7ABBVIE INC 2.85% 05/14/2023$10,936.890.06%
31620MBP031620MBP0FIDELITY NATL INFORMATION SVCS SR GLBL NT 23 0.375% 03/01/2023$9,967.140.06%
053332AP7053332AP7AUTOZONE INC 3.125% 07/15/2023$9,912.590.06%
88579YAX988579YAX93M CO 2.25% 03/15/2023$7,978.130.05%
12189LAQ412189LAQ4BURLINGTON NORTHN SANTA FE CP SR GLBL DEB 23 3.85% 09/01/2023$7,969.940.05%
13645RAK013645RAK0CANADIAN PAC RY CO NEW 4.45% 03/15/2023$8,999.290.05%
29364WBF429364WBF4ENTERGY LA LLC 0.62% 11/17/2023$8,694.370.05%
42824CBG342824CBG3HEWLETT PACKARD ENTERPRISE CO SR GLBL NT 23 4.45% 10/02/2023$7,979.140.05%
713448CG1713448CG1PEPSICO INC 2.75% 03/01/2023$6,989.550.04%
SPY 230317C00371000SPY 230317C00371000SPY OPTI CLL OPT 03/23 371$6,858.000.04%
761713AY2761713AY2REYNOLDS AMERICAN INC 4.85% 09/15/2023$6,994.760.04%
30231GAR330231GAR3EXXON MOBIL CORP 2.726% 03/01/2023$6,995.040.04%
25243YAU325243YAU3DIAGEO CAP PLC 2.625% 04/29/2023$6,961.260.04%
67077MAV067077MAV0NUTRIEN LTD 1.9% 05/13/2023$4,954.450.03%
42824CBE842824CBE8HEWLETT PACKARD ENTERPRISE CO SR GLBL NT 23 2.25% 04/01/2023$5,972.520.03%
134429BE8134429BE8CAMPBELL SOUP CO 3.65% 03/15/2023$5,993.680.03%
718546AV6718546AV6PHILLIPS 66 3.85% 04/09/2025$5,903.350.03%
29273RAS829273RAS8ENERGY TRANSFER L P 3.6% 02/01/2023$5,000.000.03%
45687AAJ145687AAJ1INGERSOLL-RAND GBL HLDG CO LTD SR GLBL NT 23 4.25% 06/15/2023$4,996.070.03%
745310AH5745310AH5PUGET ENERGY INC 3.65% 05/15/2025$4,787.000.03%
30219GAQ130219GAQ1EXPRESS SCRIPTS HLDG CO 3% 07/15/2023$4,950.070.03%
801060AC8801060AC8SANOFI 3.375% 06/19/2023$4,969.620.03%
023135AW6023135AW6AMAZON COM INC 2.4% 02/22/2023$5,992.050.03%
913017DB2913017DB2UNITED TECHNOLOGIES CORP 3.65% 08/16/2023$5,956.040.03%
00440EAP200440EAP2CHUBB INA HLDGS INC 2.7% 03/13/2023$2,993.270.02%
494550BQ8494550BQ8KINDER MORGAN ENERGY PARTNERS SR GLBL NT3.5% 23 3.5% 09/01/2023$2,979.680.02%
369550BD9369550BD9GENERAL DYNAMICS CORP 3.375% 05/15/2023$3,983.540.02%
025537AQ4025537AQ4AMERICAN ELEC PWR INC 0.75% 11/01/2023$2,908.540.02%
82481LAC382481LAC3SHIRE ACQUISITIONS INVTS IRELA SR GLBL NT 23 2.875% 09/23/2023$1,971.460.01%
857477AL7857477AL7STATE STR CORP 3.1% 05/15/2023$1,989.620.01%
931427AU2931427AU2WALGREENS BOOTS ALLIANCE INC GLBL NT 0.95% 23 0.95% 11/17/2023$1,935.090.01%
713448EY0713448EY0PEPSICO INC 0.75% 05/01/2023$1,980.030.01%
742718EB1742718EB1PROCTER & GAMBLE CO 3.1% 08/15/2023$1,990.270.01%
025816BW8025816BW8AMERICAN EXPRESS CO 3.7% 08/03/2023$1,988.460.01%
Cash&OtherCash&OtherCash & Other-$92,931.37-0.54%

Portfolio holdings and allocations are subject to change and should not be considered investment advice or a recommendation to buy, sell or hold any particular security.

How to Buy

BFIX Availability for Individuals and Advisors

Individual Brokerage Accounts

Individual investors may be able to purchase shares of BFIX on the popular brokerage platforms listed below. Please log into your brokerage account and search for the ticker symbol BFIX to check availability. If BFIX is not available, please reach out to your brokerage for more information. You may also call us at (833) 852-8453.

Financial Advisor Platforms

Financial advisors may be able to purchase shares of BFIX on their platforms. Please check with your platform provider or call us at (833) 852-8453 if you require assistance.

 

 

DEFINITIONS OF TERMS:

Investment Grade Fixed Income – To be considered an investment grade issue, the company must be rated at ‘BBB’ or higher by Standard and Poor’s or Moody’s. Anything below this ‘BBB’ rating is considered non-investment grade.

30-Day SEC Yield – Yield calculation that reflects the dividends and interest earned during the period after the deduction of the fund’s expenses. It is also referred to as the “standardized yield.”

Call Option – A call is an option contract giving the owner the right, but not the obligation, to buy a specified amount of an underlying security at a specified price within a specified time.

Put Option – Put options give holders of the option the right, but not the obligation, to sell a specified amount of an underlying security at a specified price within a specified time frame.

Weighted Average Maturity – Weighted average maturity is a measure of the overall maturity of the debt securities in a portfolio.

Duration – Duration is a measure of the sensitivity of the price of a bond or other debt instrument to a change in interest rates. Duration can measure how long it takes, in years, for an investor to be repaid the bond’s price by the bond’s total cash flows. Duration can also measure the sensitivity of a bond’s or fixed income portfolio’s price to changes in interest rates. In general, the higher the duration, the more a bond’s price will drop as interest rates rise (and the greater the interest rate risk). For example, if rates were to rise 1%, a bond or bond fund with a five-year average duration would likely lose approximately 5% of its value.

Option-Adjusted Duration – A measure of fixed income duration that accounts for the effect of a call option on the expected life of a bond.

PRIVACY POLICY:

Please visit https://www.getbuilding.com/privacy-policy/ for more information about how we collect and use data related to this site.

 

BFIX News & Insights

Index-Hugging Bond ETFs May Not Be Ideal for Investors

Index-Hugging Bond ETFs May Not Be Ideal for Investors

“When I say these and other total return bond funds have lost their “charter”, I’m asserting that almost all of these funds have in the last five years become quasi “index funds”. And since most adhere to indices with six year and longer durations*, their performance...

Four Macro Trends Every Advisor Needs to Know

Four Macro Trends Every Advisor Needs to Know

In the past three years, financial markets have faced unprecedented challenges ranging from the worst pandemic in 100 years, the biggest armed conflict in Europe since World War II, the largest drawdown in bonds ever, and highest inflation in more than 40 years. The resultant market volatility has left many financial advisors unsure of what to do next, but savvy advisors know there are throughlines in the narrative. These are the four key macro trends we believe every advisor needs to be watching to drive their clients’ success.

Contact Us

Investors should carefully consider the investment objectives, risks, charges, and expenses of Exchange Traded Funds (ETFs) before investing. To obtain an ETF’s prospectus containing this and other important information, please call (833) 852-8453, or visit www.BFIX.fund. Please read the prospectus carefully before you invest.

IMPORTANT RISK INFORMATION: An investment in the fund involves risk, including possible loss of principal. Past performance does not guarantee future results.

The fund’s investment objective is to seek capital appreciation and risk mitigation. The funds are new and have a limited operating history.

Fixed income investments are subject to interest rate risk; their value will normally decline as interest rates rise. Fixed income investments are also subject to credit risk, the risk that the issuer of a bond will fail to pay interest and principal in a timely manner, or that negative perceptions of the issuer’s ability to make such payments will cause the price of that bond to decline. Investing in mortgage- and asset-backed securities involves interest rate, credit, valuation, extension and liquidity risks and the risk that payments on the underlying assets are delayed, prepaid, subordinated or defaulted on.

The Fund is actively managed, which means that investment decisions are made based on the Adviser’s investment views. There is no guarantee that the investment views will produce the desired results or expected returns, which may cause the Fund to fail to meet its investment objective or to underperform its benchmark index or funds with similar investment objectives and strategies. The Fund invests in ETFs (Exchange-Traded Funds) and is therefore subject to the same risks as the underlying securities in which the ETF invests as well as entails higher expenses than if invested into the underlying ETF directly. While the option overlay is intended to improve the Fund’s performance, there is no guarantee that it will do so. Utilizing an option overlay strategy involves the risk that as the buyer of a call option, the Fund risks losing the entire premium invested in the option if the Fund does not exercise the option. Also, securities and options traded in over-the-counter markets may trade less frequently and in limited volumes and thus exhibit more volatility and liquidity risk.

Build Asset Management, LLC (a/k/a Build Asset Management and/or Get Building) is the investment advisor to the BFIX ETF. Build is an investment adviser registered with the U.S. Securities and Exchange Commission.  Registration of an investment adviser does not imply any skill or training.  Build Asset Management does not provide legal or tax advice.  Please consult your legal or tax professionals for specific advice. Build does not guarantee any minimum level of investment performance or the success of any index portfolio, index, mutual fund or investment strategy. Past performance does not guarantee future results. There is a potential for loss in any investment, including loss of principal invested. All investments involve risk, and different types of investments involve varying degrees of risk. Investment recommendations will not always be profitable.

Build ETFs are distributed by Foreside Fund Services, LLC.