BFIX
Build Bond Innovation ETF
| NAV: $24.14 |
| Market Price: $24.11 |
| NAV Change: $0.10 / 0.41% |
| Market Price Change: $0.15 / 0.61% |
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
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 Overviewas of 2024-09-13
| Ticker Symbol: | BFIX |
| Gross Expense Ratio: | 0.50% |
| NAV: | $24.14 |
| NAV Change: | $0.10 / 0.41% |
| Market Price: | $24.11 |
| Market Price Change: | $0.15 / 0.61% |
| CUSIP: | 12009B101 |
| Total Assets: | $7,844,292.35 |
| Shares Outstanding: | 325000 |
| Inception Date: | 2022-02-09 |
| Premium Discount: | -0.11% |
| 30 Day Median Bid Ask Spread: | 0.54% |
Monthly Fund Performanceas of 2024-08-31Cumulative
| 1mo | 3mo | 6mo | 1yr | Since Inception | |
|---|---|---|---|---|---|
| NAV | 1.37% | 4.63% | 5.67% | 9.15% | 3.96% |
| Market Price | 1.84% | 4.70% | 5.69% | 9.21% | 4.06% |
| Bloomberg US Agg Total Return | 1.44% | 4.79% | 4.83% | 7.30% | -2.23% |
Annualized
| 1yr | 3yr | 5yr | Since Inception | |
|---|---|---|---|---|
| NAV | 9.15% | - | - | 1.53% |
| Market Price | 9.21% | - | - | 1.57% |
Quarterly Fund Performanceas of 2024-06-30Cumulative
| 1mo | 3mo | 6mo | 1yr | Since Inception | |
|---|---|---|---|---|---|
| NAV | 1.46% | 0.98% | 3.33% | 6.27% | 0.81% |
| Market Price | 1.50% | 0.95% | 3.52% | 6.23% | 0.88% |
| Bloomberg US Agg Total Return | 0.95% | 0.07% | -0.71% | 2.63% | -5.82% |
Annualized
| 1yr | 3yr | 5yr | Since Inception | |
|---|---|---|---|---|
| NAV | 6.27% | - | - | 0.34% |
| Market Price | 6.23% | - | - | 0.37% |
NAV, or Net Asset Value: The dollar value of a single share, based on the value of the underlying assets of the fund minus its liabilities, divided by the number of shares outstanding. Calculated at the end of each business day. Market Price: The current price at which shares are bought and sold. Market returns are based upon the last trade price.
Distribution Information
| Distribution Information |
|---|
| Distribution Frequency: Monthly |
| 30 Day SEC Yield: 4.25 |
| Ex-Div Date | Record Date | Payable Date | Amount ($) | Amount (%) |
|---|---|---|---|---|
| 2024-08-29 | 2024-08-29 | 2024-08-30 | $0.08670609 | 0.3645% |
| 2024-07-30 | 2024-07-30 | 2024-07-31 | $0.09723301 | 0.4161% |
| 2024-06-27 | 2024-06-27 | 2024-06-28 | $0.07774843 | 0.3343% |
| 2024-05-30 | 2024-05-30 | 2024-05-31 | $0.08979424 | 0.3909% |
| 2024-04-26 | 2024-04-29 | 2024-04-30 | $0.09273243 | 0.4027% |
| 2024-03-26 | 2024-03-27 | 2024-03-28 | $0.08427077 | 0.3642% |
| 2024-02-27 | 2024-02-28 | 2024-02-29 | $0.12356003 | 0.5398% |
| 2024-01-29 | 2024-01-30 | 2024-01-31 | $0.06270486 | 0.2732% |
| 2023-12-27 | 2023-12-28 | 2023-12-29 | $0.08852267 | 0.3844% |
| 2023-12-27 | 2023-12-28 | 2023-12-29 | $0.22915000 | 0.8264% |
| 2023-11-28 | 2023-11-29 | 2023-11-30 | $0.08038470 | 0.3554% |
| 2023-10-27 | 2023-10-30 | 2023-10-31 | $0.09422583 | 0.4203% |
| 2023-09-27 | 2023-09-28 | 2023-09-29 | $0.05601680 | 0.2500% |
| 2023-08-29 | 2023-08-30 | 2023-08-31 | $0.09178836 | 0.4036% |
| 2023-07-27 | 2023-07-28 | 2023-07-31 | $0.07472215 | 0.3269% |
| 2023-06-28 | 2023-06-29 | 2023-06-30 | $0.07671441 | 0.3363% |
| 2023-05-26 | 2023-05-30 | 2023-05-31 | $0.08514574 | 0.3753% |
| 2023-04-26 | 2023-04-27 | 2023-04-28 | $0.07255994 | 0.3171% |
| 2023-03-29 | 2023-03-30 | 2023-03-31 | $0.08253465 | 0.3612% |
| 2023-02-24 | 2023-02-27 | 2023-02-28 | $0.04561366 | 0.2011% |
| 2023-01-27 | 2023-01-30 | 2023-01-31 | $0.13873677 | 0.6061% |
| 2022-12-23 | 2022-12-27 | 2022-12-30 | $0.06990837 | 0.3061% |
| 2022-11-28 | 2022-11-29 | 2022-11-30 | $0.07763280 | 0.3393% |
| 2022-10-27 | 2022-10-28 | 2022-10-31 | $0.05488882 | 0.2405% |
| 2022-09-28 | 2022-09-29 | 2022-09-30 | $0.05430832 | 0.2374% |
| 2022-08-29 | 2022-08-30 | 2022-08-31 | $0.04210309 | 0.1812% |
| 2022-07-27 | 2022-07-28 | 2022-07-29 | $0.01304344 | 0.0557% |
| 2022-06-28 | 2022-06-29 | 2022-06-30 | $0.01517740 | 0.0650% |
| 2022-05-26 | 2022-05-27 | 2022-05-31 | $0.01359344 | 0.0569% |
| 2022-04-27 | 2022-04-28 | 2022-04-29 | $0.01071158 | 0.0448% |
| 2022-03-29 | 2022-03-30 | 2022-03-31 | $0.00978697 | 0.0400% |
Portfolio Holdings
| Ticker | CUSIP | Name | Market Value | Weight |
|---|---|---|---|---|
| 91282CDB4 | 91282CDB4 | United States Treasury Note/Bond 0.625% 10/15/2024 | $398,597.92 | 5.08% |
| 91282CHN4 | 91282CHN4 | United States Treasury Note/Bond 4.75% 07/31/2025 | $361,931.96 | 4.61% |
| 91282CDJ7 | 91282CDJ7 | United States Treasury Note/Bond 1.375% 11/15/2031 | $345,546.88 | 4.40% |
| 91282CFX4 | 91282CFX4 | United States Treasury Note/Bond 4.5% 11/30/2024 | $324,719.62 | 4.14% |
| 9128283J7 | 9128283J7 | United States Treasury Note/Bond 2.125% 11/30/2024 | $323,152.82 | 4.12% |
| 91282CDH1 | 91282CDH1 | United States Treasury Note/Bond 0.75% 11/15/2024 | $322,771.09 | 4.11% |
| 91282CDZ1 | 91282CDZ1 | United States Treasury Note/Bond 1.5% 02/15/2025 | $296,038.61 | 3.77% |
| 91282CHV6 | 91282CHV6 | United States Treasury Note/Bond 5% 08/31/2025 | $262,272.90 | 3.34% |
| 91282CLH2 | 91282CLH2 | United States Treasury Note/Bond 3.75% 08/31/2026 | $260,848.05 | 3.33% |
| 91282CJB8 | 91282CJB8 | United States Treasury Note/Bond 5% 09/30/2025 | $212,132.80 | 2.70% |
| Cash&Other | Cash&Other | Cash & Other | $208,853.47 | 2.66% |
| 912828ZT0 | 912828ZT0 | United States Treasury Note/Bond 0.25% 05/31/2025 | $194,417.71 | 2.48% |
| 91282CGU9 | 91282CGU9 | United States Treasury Note/Bond 3.875% 03/31/2025 | $184,404.48 | 2.35% |
| 91282CJE2 | 91282CJE2 | United States Treasury Note/Bond 5% 10/31/2025 | $161,846.88 | 2.06% |
| 912810SN9 | 912810SN9 | United States Treasury Note/Bond 1.25% 05/15/2050 | $160,196.68 | 2.04% |
| 3130AXB80 | 3130AXB80 | Federal Home Loan Banks 5.46% 09/25/2024 | $160,009.95 | 2.04% |
| 822582CC4 | 822582CC4 | Shell International Finance BV 2% 11/07/2024 | $159,267.04 | 2.03% |
| 438516CH7 | 438516CH7 | Honeywell International Inc 4.85% 11/01/2024 | $134,928.25 | 1.72% |
| 61761JVL0 | 61761JVL0 | Morgan Stanley 3.7% 10/23/2024 | $131,746.99 | 1.68% |
| 718546AV6 | 718546AV6 | Phillips 66 3.85% 04/09/2025 | $106,332.10 | 1.36% |
| 053332AY8 | 053332AY8 | AutoZone Inc 3.625% 04/15/2025 | $105,272.43 | 1.34% |
| 189754AA2 | 189754AA2 | Tapestry Inc 4.25% 04/01/2025 | $104,477.61 | 1.33% |
| 571903AW3 | 571903AW3 | Marriott International Inc/MD 3.75% 03/15/2025 | $102,326.53 | 1.30% |
| 666807BM3 | 666807BM3 | Northrop Grumman Corp 2.93% 01/15/2025 | $94,308.05 | 1.20% |
| 375558AZ6 | 375558AZ6 | Gilead Sciences Inc 3.5% 02/01/2025 | $88,500.03 | 1.13% |
| 03076CAG1 | 03076CAG1 | Ameriprise Financial Inc 3.7% 10/15/2024 | $79,894.48 | 1.02% |
| FGXXX | 31846V336 | First American Government Obligations Fund 12/01/2031 | $79,815.91 | 1.02% |
| 745310AH5 | 745310AH5 | Puget Energy Inc 3.65% 05/15/2025 | $79,204.96 | 1.01% |
| 29379VBE2 | 29379VBE2 | Enterprise Products Operating LLC 3.75% 02/15/2025 | $79,577.07 | 1.01% |
| GLD 241220C00225000 | GLD 241220C00225000 | GLD US 12/20/24 C225 | $76,650.00 | 0.98% |
| 03076CAK2 | 03076CAK2 | Ameriprise Financial Inc 3% 04/02/2025 | $73,270.73 | 0.93% |
| 20826FAU0 | 20826FAU0 | ConocoPhillips Co 2.4% 03/07/2025 | $71,160.76 | 0.91% |
| 91282CJL6 | 91282CJL6 | United States Treasury Note/Bond 4.875% 11/30/2025 | $70,806.64 | 0.90% |
| 38141GXJ8 | 38141GXJ8 | Goldman Sachs Group Inc/The 3.5% 04/01/2025 | $68,482.42 | 0.87% |
| 00724FAC5 | 00724FAC5 | Adobe Inc 3.25% 02/01/2025 | $66,546.05 | 0.85% |
| IEF 240920C00094000 | IEF 240920C00094000 | IEF US 09/20/24 C94 | $65,520.00 | 0.84% |
| 053332AR3 | 053332AR3 | AutoZone Inc 3.25% 04/15/2025 | $65,365.20 | 0.83% |
| 58933YAR6 | 58933YAR6 | Merck & Co Inc 2.75% 02/10/2025 | $59,462.23 | 0.76% |
| 30231GBH4 | 30231GBH4 | Exxon Mobil Corp 2.992% 03/19/2025 | $59,493.41 | 0.76% |
| 59523UAM9 | 59523UAM9 | Mid-America Apartments LP 4% 11/15/2025 | $58,737.07 | 0.75% |
| 00287YBZ1 | 00287YBZ1 | AbbVie Inc 2.6% 11/21/2024 | $57,702.78 | 0.74% |
| SPY 241220C00525000 | SPY 241220C00525000 | SPY US 12/20/24 C525 | $57,720.00 | 0.74% |
| 42824CBL2 | 42824CBL2 | Hewlett Packard Enterprise Co 5.9% 10/01/2024 | $56,008.24 | 0.71% |
| 68389XBT1 | 68389XBT1 | Oracle Corp 2.5% 04/01/2025 | $55,257.56 | 0.70% |
| 87264ABB0 | 87264ABB0 | T-Mobile USA Inc 3.5% 04/15/2025 | $54,538.03 | 0.70% |
| 67077MAZ1 | 67077MAZ1 | Nutrien Ltd 5.9% 11/07/2024 | $53,020.49 | 0.68% |
| 3130AXMP0 | 3130AXMP0 | Federal Home Loan Banks 5.375% 10/30/2024 | $50,011.74 | 0.64% |
| 64110LAL0 | 64110LAL0 | Netflix Inc 5.875% 02/15/2025 | $50,185.96 | 0.64% |
| 3130ATBJ5 | 3130ATBJ5 | Federal Home Loan Banks 4.05% 09/30/2024 | $49,977.87 | 0.64% |
| 63111XAG6 | 63111XAG6 | Nasdaq Inc 5.65% 06/28/2025 | $50,347.75 | 0.64% |
| 494368BQ5 | 494368BQ5 | Kimberly-Clark Corp 2.65% 03/01/2025 | $49,476.13 | 0.63% |
| 032095AK7 | 032095AK7 | Amphenol Corp 2.05% 03/01/2025 | $49,257.63 | 0.63% |
| 05348EAV1 | 05348EAV1 | AvalonBay Communities Inc 3.45% 06/01/2025 | $47,531.11 | 0.61% |
| 26875PAM3 | 26875PAM3 | EOG Resources Inc 3.15% 04/01/2025 | $44,604.33 | 0.57% |
| 67077MAD0 | 67077MAD0 | Nutrien Ltd 3% 04/01/2025 | $39,618.44 | 0.51% |
| 45866FAT1 | 45866FAT1 | Intercontinental Exchange Inc 3.65% 05/23/2025 | $39,683.12 | 0.51% |
| 29717PAP2 | 29717PAP2 | Essex Portfolio LP 3.5% 04/01/2025 | $38,665.91 | 0.49% |
| 49456BAF8 | 49456BAF8 | Kinder Morgan Inc 4.3% 06/01/2025 | $38,829.20 | 0.49% |
| 446413AS5 | 446413AS5 | Huntington Ingalls Industries Inc 3.844% 05/01/2025 | $36,709.45 | 0.47% |
| SPY 250321C00550000 | SPY 250321C00550000 | SPY US 03/21/25 C550 | $34,848.00 | 0.44% |
| GLD 250620C00245000 | GLD 250620C00245000 | GLD US 06/20/25 C245 | $34,060.00 | 0.43% |
| 025816BR9 | 025816BR9 | American Express Co 3% 10/30/2024 | $32,967.81 | 0.42% |
| TLT 240920C00091000 | TLT 240920C00091000 | TLT US 09/20/24 C91 | $30,885.00 | 0.39% |
| 20826FAG1 | 20826FAG1 | ConocoPhillips Co 3.35% 05/15/2025 | $26,730.71 | 0.34% |
| 482480AE0 | 482480AE0 | KLA Corp 4.65% 11/01/2024 | $24,984.47 | 0.32% |
| 291011BG8 | 291011BG8 | Emerson Electric Co 3.15% 06/01/2025 | $24,705.74 | 0.31% |
| IEF 240920C00096500 | IEF 240920C00096500 | IEF US 09/20/24 C96.5 | $22,770.00 | 0.29% |
| 58013MEU4 | 58013MEU4 | McDonald's Corp 3.375% 05/26/2025 | $22,812.04 | 0.29% |
| 89236TGT6 | 89236TGT6 | Toyota Motor Credit Corp 1.8% 02/13/2025 | $21,730.12 | 0.28% |
| 718547AD4 | 718547AD4 | Phillips 66 Co 3.605% 02/15/2025 | $19,847.10 | 0.25% |
| 244199BH7 | 244199BH7 | Deere & Co 2.75% 04/15/2025 | $19,768.56 | 0.25% |
| 886546AB6 | 886546AB6 | Tiffany & Co 3.8% 10/01/2024 | $19,985.19 | 0.25% |
| 29273RBD0 | 29273RBD0 | Energy Transfer LP 4.05% 03/15/2025 | $17,908.63 | 0.23% |
| 278642AV5 | 278642AV5 | eBay Inc 1.9% 03/11/2025 | $17,726.89 | 0.23% |
| 002824BB5 | 002824BB5 | Abbott Laboratories 2.95% 03/15/2025 | $17,869.86 | 0.23% |
| 11134LAP4 | 11134LAP4 | Broadcom Corp / Broadcom Cayman Finance Ltd 3.125% 01/15/2025 | $16,869.73 | 0.22% |
| XLRE 240920C00041000 | XLRE 240920C00041000 | XLRE US 09/20/24 C41 | $16,380.00 | 0.21% |
| 58013MFN9 | 58013MFN9 | McDonald's Corp 3.3% 07/01/2025 | $15,850.49 | 0.20% |
| 283695BE3 | 283695BE3 | El Paso Natural Gas Co LLC 7.5% 11/15/2026 | $15,914.51 | 0.20% |
| 741503AW6 | 741503AW6 | Booking Holdings Inc 3.65% 03/15/2025 | $14,896.87 | 0.19% |
| 845040JQ8 | 845040JQ8 | Southwest Higher Education Authority Inc 2.946% 10/01/2024 | $14,989.89 | 0.19% |
| 125523AV2 | 125523AV2 | Cigna Group/The 3.25% 04/15/2025 | $14,865.71 | 0.19% |
| 59156RBM9 | 59156RBM9 | MetLife Inc 3% 03/01/2025 | $14,874.21 | 0.19% |
| 654106AH6 | 654106AH6 | NIKE Inc 2.4% 03/27/2025 | $14,843.94 | 0.19% |
| 025816CQ0 | 025816CQ0 | American Express Co 2.25% 03/04/2025 | $13,830.72 | 0.18% |
| XLU 240920C00065000 | XLU 240920C00065000 | XLU US 09/20/24 C65 | $13,000.00 | 0.17% |
| 84265VAH8 | 84265VAH8 | Southern Copper Corp 3.875% 04/23/2025 | $12,895.69 | 0.16% |
| 74251VAK8 | 74251VAK8 | Principal Financial Group Inc 3.4% 05/15/2025 | $12,872.24 | 0.16% |
| 674599EB7 | 674599EB7 | Occidental Petroleum Corp 5.875% 09/01/2025 | $12,096.44 | 0.15% |
| 723787AT4 | 723787AT4 | Pioneer Natural Resources Co 1.125% 01/15/2026 | $11,535.29 | 0.15% |
| XLP 240920C00080000 | XLP 240920C00080000 | XLP US 09/20/24 C80 | $11,730.00 | 0.15% |
| 34964CAA4 | 34964CAA4 | Fortune Brands Innovations Inc 4% 06/15/2025 | $10,928.08 | 0.14% |
| 037833AZ3 | 037833AZ3 | Apple Inc 2.5% 02/09/2025 | $9,910.80 | 0.13% |
| 031162DM9 | 031162DM9 | Amgen Inc 5.25% 03/02/2025 | $10,013.23 | 0.13% |
| 458140BP4 | 458140BP4 | Intel Corp 3.4% 03/25/2025 | $5,946.19 | 0.08% |
| 30231GAF9 | 30231GAF9 | Exxon Mobil Corp 2.709% 03/06/2025 | $5,943.94 | 0.08% |
| 615369AS4 | 615369AS4 | Moody's Corp 3.75% 03/24/2025 | $4,968.15 | 0.06% |
| 858119BL3 | 858119BL3 | Steel Dynamics Inc 2.4% 06/15/2025 | $1,965.82 | 0.03% |
| BITO 240920C00023000 | BITO 240920C00023000 | BITO US 09/20/24 C23 | $100.00 | 0.00% |
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.
BFIX News & Insights
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Tax Loss Harvesting Should Be Top of Mind for Bond Investors
Opportunities for tax loss harvesting should be regularly reviewed in every taxable portfolio, not just when taxes are top of mind.
