DSMC

Distillate Small/Mid Cash Flow ETF

DSMC holds approximately 150 small- and mid-cap U.S.-listed stocks, systematically selected using the firm's proprietary measures of quality and free cash flow based valuation.


US

EQUITY

Active

MANAGEMENT STYLE

99.0 M

ASSETS UNDER MGMT

55 bp

EXPENSES
Fund Basics
Fund sponsorDistillate Capital
CategoryUS
Asset classEquity
Websitelink...
Inception dateOct 05, 2022
Assets (mns)$99
Expense ratio55 bp
CurrencyUSD
Sector Breakdown
Fund Structure
RegulationOpen-Ended Fund
DistributionsAnnually
Taxation1099
Stock selectionProprietary
WeightingProprietary
Holdings TransparencyFull
Derivatives-basedNo
Options availableNo
Currency hedgedNo
Fund of fundsNo
Top 10 Holdings Complete list  + 
CHESAPEAKE ENERGY CORP 2.0 %
DILLARDS INC-CL A 1.6 %
TOLL BROTHERS INC 1.5 %
OWENS CORNING 1.5 %
CROCS INC 1.5 %
WEX INC 1.4 %
ALPHA METALLURGICAL RESOURCES, INC. 1.4 %
CHORD ENERGY CORPORATION 1.4 %
CF INDUSTRIES HOLDINGS INC 1.3 %
QORVO INC 1.3 %
Constituent Breakdown
Number of holdings149
Herfindahl-Hirschman Index 79
Wgt avg mkt cap (mns)$5,348
Large cap (>$10bn)12.6%
Mid cap ($2-10bn)59.3%
Small cap (<$2bn)26.9%
Developed mkts.100.0%
Emerging mkts.0.0%
Country Exposure
UNITED STATES 95.4 %
BERMUDA 1.6 %
IRELAND 1.0 %
CANADA 0.9 %
Historical Performance


Standardized Performance (as of 09/30/2024)
 YTD1 YR2 YR3 YR5 YR10 YRIncep.
Total Returns 5.6% 19.3% -- -- -- -- 19.3%
Volatility 14.6% 17.0% -- -- -- -- --
Market Correlations
versus...BetaR-squared
S&P 5001.1656%
MSCI EAFE1.0763%
MSCI Emg Mkts0.8349%
Liquidity Measures
Avg. volume (000)15
Turnover0.6%
Avg. Bid/Ask (% of price)0.14%
ADV of underlying (mns)$9,199
Technical Indicators
Recent close$36.00
30d moving avg.$34.80
Annualized volatility21.3%
Relative strength (RSI)49
Short interest (ETF)0.3%
Short interest (underlying)0.0%
Distributions
Assets Under Management (mns)

Money Flows (mns)

Short Interest (as % of shares outstanding)

Long Money Flows (mns)

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Risk and Returns: DSMC 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 --%
0.9 10.1 1.5 2.2% --
Based on closing prices from 10/4/2024
Historical Valuation Trends Sample data. Subscribe for access.

SHOWING:
Price-to-Earnings
DSMC



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

SPECULATIVE

Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.

ALTAR Score™

DSMC

12.5%

Cat. Avg

5.5%


ALTAR Score™ Calculation

Category Overview
There are 933 funds in the US Equity category, with an average ALTAR Score™ of 5.5% and a standard deviation of 2.4%. DSMC's ALTAR Score™ is approximately 2.9 standard deviations above the category average. This places DSMC in the 99th percentile among funds in the category.
Sell Side Consensus Rating

Sell-side recommendations on the ETF's individual constituents

DSMC
Peer Average
SELL
U/W
HOLD
O/W
BUY
Factor Scorecard

SIZE
VALUE
YIELD
MOMENTUM
VOLATILITY
QUALITY
Expense Analysis

Peer Group Active
US Equity ETFs
# of ETFs 308
Avg. Expense Ratio 67.1 bp
Std. Deviation 37 bp
DSMC (55 bp) Percentile rank 39
Peer Group Expense Ratio Distribution


Total Cost of Ownership (TCO) Comparison
Expense (bp)
(A)
Avg. Bid/Ask (bp)
(B)
TCO (bp)
(A)+(B)
DSMC 55.0 13.8 68.8
Peer Avg. 42.1 19.3 61.4
  For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .