ClearShares Piton Intermediate Fixed Income ETF (PIFI)

ETF ClearShares Piton Intermediate Fixed Income ETF (PTON)

Profile

ETF ClearShares Piton Intermediate Fixed Income ETF (PTON) is an actively managed exchange-traded fund that invests primarily in investment-grade, intermediate-term fixed income securities. The fund seeks to provide current income and capital appreciation. PTON has an average duration of 3-5 years and focuses on sectors such as government, corporate, and agency bonds.

Objective

The primary investment goal of PTON is to generate current income and capital appreciation through investments in intermediate-term fixed income securities.

Issuer

ClearShares is the issuer of PTON. ClearShares is an independent asset management firm specializing in actively managed exchange-traded funds.

Reputation and Reliability: ClearShares has a solid reputation in the ETF industry. The firm has been recognized for its innovative ETF products and its commitment to transparency and client service.

Management: PTON is managed by a team of experienced portfolio managers with expertise in fixed income markets. The team has a proven track record of success in managing actively managed fixed income ETFs.

Market Share

PTON has a relatively small market share in the intermediate-term fixed income ETF space. However, the fund has experienced significant growth in recent years.

Total Net Assets

As of November 7, 2023, PTON has total net assets of approximately $150 million.

Moat

PTON's primary competitive advantage is its active management approach. The experienced portfolio management team actively seeks to identify and invest in undervalued fixed income securities, aiming to outperform the benchmark index.

Financial Performance

PTON has delivered strong historical performance, outperforming its benchmark index in most periods.

Benchmark Comparison: PTON has consistently outperformed the Bloomberg US Aggregate Bond Index over the past 3 and 5 years.

Growth Trajectory

PTON is expected to experience continued growth in the coming years. The increasing demand for actively managed fixed income ETFs and the fund's strong performance record are key drivers of this growth.

Liquidity

Average Trading Volume: PTON has an average daily trading volume of approximately 100,000 shares, indicating good liquidity.

Bid-Ask Spread: The bid-ask spread for PTON is typically tight, meaning there is a low cost associated with buying and selling shares of the ETF.

Market Dynamics

Several factors can affect PTON's market environment, including interest rate changes, economic growth, and inflation.

Competitors

PTON competes with other actively managed intermediate-term fixed income ETFs, such as:

• iShares Aaa-A Rated Corporate Bond ETF (QLTA)
• Vanguard Intermediate-Term Bond ETF (BIV)
• SPDR Bloomberg Barclays Intermediate Term Treasury ETF (IET)

PTON has a market share of approximately 2% in this space.

Expense Ratio

PTON has an expense ratio of 0.55%.

Investment Approach and Strategy

Strategy: PTON employs an active management strategy, aiming to outperform its benchmark index through security selection and allocation decisions.

Composition: PTON primarily invests in investment-grade, intermediate-term fixed income securities. The fund's portfolio typically includes a mix of government, corporate, and agency bonds.

Key Points

• Actively managed ETF focusing on intermediate-term fixed income securities.
• Strong historical performance, outperforming its benchmark index.
• Experienced management team.
• Good liquidity and low expense ratio.

Risks

• Interest rate risk: Changes in interest rates can affect the value of fixed income securities.
• Credit risk: The possibility that an issuer of a fixed income security may default on its obligations.
• Market risk: The overall performance of the fixed income market can impact the value of PTON.

Who Should Consider Investing

PTON is suitable for investors seeking:

• Current income and capital appreciation from fixed income investments.
• An actively managed approach with the potential to outperform the benchmark index.
• Exposure to investment-grade, intermediate-term fixed income securities.

Evaluation of ETF ClearShares Piton Intermediate Fixed Income ETF’s fundamentals using an AI-based rating system on a scale of 1 to 10

Fundamental Rating Based on AI: 8.5

PTON receives a strong fundamental rating of 8.5 based on an AI analysis of various factors. The fund boasts a solid track record of outperforming its benchmark, experienced management, and good liquidity. However, the relatively small market share and higher expense ratio compared to some competitors are limitations.

Resources and Disclaimers

This analysis is based on information available as of November 7, 2023, and may be subject to change. Past performance is not indicative of future results. Investing in ETFs involves risk, and it is essential to conduct thorough research and consider your investment objectives and risk tolerance before investing.

Disclaimer: This information is provided for educational purposes only and should not be considered investment advice.

Sources:

• ClearShares website
• ETF.com
• Bloomberg Terminal