ETF Summary

Data as of 04/23/2024
Primary Exchange NYSE
# of Holdings 21
Shares Outstanding 2,275,000
NET ASSETS 52,074,068
Median 30-Day Bid/Ask Spread 0.57%
Data as of 04/23/2024
Ticker NETL
Fund Inception Date 03/21/2019
Expense Ratio 0.60%
CUSIP 26922A248
30-Day SEC Yield 5.8%
Net Asset Value (NAV)
NAV 22.89
Daily Change ($) 0.19
Daily Change (%) 0.84%
Market Value
Closing Price 22.9400
Daily Change ($) 0.2796
Daily Change (%) 1.23%

Performance

Month end as of 03/31/2024

1 Month 3 Month YTD 1 Year 3 Years 5 Years Since Inception
Fund NAV 5.08% -3.98% -3.98% -0.87% 0.04% 3.13% 3.31%
Market Price 5.33% -3.72% -3.72% -0.59% -0.2% 3.15% 3.34%

Quarter end as of 03/31/2024

1 Month 3 Month YTD 1 Year 3 Years 5 Years Since Inception
Fund NAV 5.08% -3.98% -3.98% -0.87% 0.04% 3.13% 3.31%
Market Price 5.33% -3.72% -3.72% -0.59% -0.2% 3.15% 3.34%

The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted. Returns for periods less than one year are not annualized.

1The market price returns are based on the official closing price of an ETF share or, if the official closing price isn't available, the midpoint between the national best bid and national best offer (“NBBO”) as of the time the ETF calculates current NAV per share, and do not represent the returns you would receive if you traded shares at other times. Beginning 12/21/2020, market price returns are calculated using closing price or the NBBO midpoint at 4:00 PM ET. Prior to that date, the midpoint of the bid/ask spread at 4:00 PM ET was used. The first trading date is typically several days after the fund inception date. Therefore, NAV is used to calculate market returns prior to the first trade date because there is no bid/ask spread until the fund starts trading.

Top 10 Holdings

as of 04/23/2024

Company Name Ticker FIGI Shares Market Value % of Net Asset Values
REALTY INCOME CORP O BBG000DHPN63 78696 4,201,579.44 8.07%
NNN REIT INC NNN BBG000CLP0Y4 100777 4,127,825.92 7.93%
WP CAREY INC WPC BBG000BCQM58 72801 4,099,424.31 7.87%
VICI PROPERTIES INC VICI BBG00HVVB499 137006 3,915,631.48 7.52%
STAG INDUSTRIAL STAG BBG000BGLFP7 110407 3,909,511.87 7.51%
ESSENTIAL PROPERTIES REALTY EPRT BBG00L17LGJ7 85819 2,255,323.32 4.33%
GLADSTONE COMMERCIAL CORP GOOD BBG000M2NYQ2 165617 2,217,611.63 4.26%
AGREE REALTY ADC BBG000BC9DK0 37310 2,147,563.60 4.12%
GETTY REALTY CORP GTY BBG000BB94N9 77786 2,133,669.98 4.10%
NETSTREIT CORP NTST BBG00W5FQPV2 121967 2,112,468.44 4.06%
ONE LIBERTY PROPERTIES INC OLP BBG000BQJHF5 92215 2,100,657.70 4.03%
LXP INDUSTRIAL TRUST LXP BBG000BL3355 236752 2,076,315.04 3.99%
INNOVATIVE INDUSTRIAL PROPER IIPR BBG00F0SW7N8 20931 2,064,424.53 3.96%
EPR PROPERTIES EPR BBG000BSZYR3 49913 2,052,422.56 3.94%
BROADSTONE NET LEASE INC BNL BBG000PWD2R3 137506 2,000,712.30 3.84%
GLOBAL NET LEASE INC GNL BBG004HXD0G8 284366 1,953,594.42 3.75%
SAFEHOLD INC SAFE BBG000H35J52 101908 1,949,500.04 3.74%
FOUR CORNERS PROPERTY TRUST FCPT BBG009H33QM0 74194 1,754,688.10 3.37%
POSTAL REALTY TRUST INC- A PSTL BBG00NSBGFJ3 125282 1,738,914.16 3.34%
GAMING AND LEISURE PROPERTIE GLPI BBG003MSMCS6 39450 1,717,653.00 3.30%
ALPINE INCOME PROPERTY TRUST PINE BBG00QNSG6R5 61038 944,257.86 1.81%
FIRST AMERICAN GOVERNMENT OBLIGATIONS FUND FGXXX BBG00CMNZNK7 609953 609,953.39 1.17%
CASH & OTHER Cash&Other -237904 -237,904.68 -0.46%

Distributions

as of 04/24/2024

Month Notice Date Ex Date Record Date Pay Date Dividend Long Term
Capital Gains 		Short Term
Capital Gains 		Ordinary
Income
March 03/25/2024 03/26/2024 03/27/2024 0.1
February 02/26/2024 02/27/2024 02/28/2024 0.1
January 01/24/2024 01/25/2024 01/26/2024 0.095
December 12/27/2023 12/28/2023 12/29/2023 0.095
November 11/28/2023 11/29/2023 11/30/2023 0.095
October 10/27/2023 10/30/2023 10/31/2023 0.095
September 09/27/2023 09/28/2023 09/29/2023 0.095
August 08/29/2023 08/30/2023 08/31/2023 0.095
July 07/27/2023 07/28/2023 07/31/2023 0.095
June 06/28/2023 06/29/2023 06/30/2023 0.095
May 05/26/2023 05/30/2023 05/31/2023 0.095
April 04/26/2023 04/27/2023 04/28/2023 0.095
March 03/29/2023 03/30/2023 03/31/2023 0.095
February 02/24/2023 02/27/2023 02/28/2023 0.095
January 01/27/2023 01/30/2023 01/31/2023 0.095
January 01/27/2023 01/30/2023 01/31/2023 0.095
December 12/28/2022 12/29/2022 12/30/2022 0.095
November 11/28/2022 11/29/2022 11/30/2022 0.095
October 10/27/2022 10/28/2022 10/31/2022 0.095
September 09/28/2022 09/29/2022 09/30/2022 0.095
August 08/29/2022 08/30/2022 08/31/2022 0.095
July 07/27/2022 07/28/2022 07/29/2022 0.095
June 06/28/2022 06/29/2022 06/30/2022 0.095
May 05/26/2022 05/27/2022 05/31/2022 0.095
April 04/27/2022 04/28/2022 04/29/2022 0.095
March 03/29/2022 03/30/2022 03/31/2022 0.095
February 02/24/2022 02/25/2022 02/28/2022 0.095
January 01/27/2022 01/28/2022 01/31/2022 0.095
December 12/29/2021 12/30/2021 12/31/2021 0.21037
December 12/29/2021 12/30/2021 12/31/2021 0.02091543
December 12/29/2021 12/30/2021 12/31/2021 0.2307
November 11/26/2021 11/29/2021 11/30/2021 0.09
November 11/26/2021 11/29/2021 11/30/2021 0.09
October 10/27/2021 10/28/2021 10/29/2021 0.09
September 09/28/2021 09/29/2021 09/30/2021 0.09
August 08/27/2021 08/30/2021 08/31/2021 0.09
July 07/28/2021 07/29/2021 07/30/2021 0.09
June 06/28/2021 06/29/2021 06/30/2021 0.09
May 05/26/2021 05/27/2021 05/28/2021 0.09
May 05/26/2021 05/27/2021 05/28/2021 0.09
April 04/28/2021 04/29/2021 04/30/2021 0.09
March 03/29/2021 03/30/2021 03/31/2021 0.09655302
December 12/29/2020 12/30/2020 12/31/2020 0.27717474
September 09/28/2020 09/29/2020 09/30/2020 0.27923385 - -
June 06/26/2020 06/29/2020 06/30/2020 0.2783
March 03/31/2020 04/01/2020 04/02/2020 0.1912
March 03/17/2020 03/18/2020 03/19/2020 0.0098
December 12/30/2019 12/31/2019 01/02/2020 0.238775
December 12/30/2019 12/31/2019 01/02/2020 0.03195
December 12/30/2019 12/31/2019 01/02/2020 0.03193
December 12/30/2019 12/31/2019 01/02/2020 0.238775 - -
December 12/30/2019 12/31/2019 01/02/2020 - 0.0331
December 12/30/2019 12/31/2019 01/02/2020 - 0.0331 -
September 09/17/2019 09/18/2019 09/19/2019 0.24723757 - -
June 06/11/2019 06/12/2019 06/13/2019 0.141629 - -

Premium Discount

NAV Market Price Premium Discount
22.89 22.9400 0.0500

Premium Discount Table

Days traded at nav Days traded at premium Days traded at discount
Calendar Year 2023 1 159 90
First Quarter 2024 0 34 27

Premium & Discount Graph

Fund Documents

Fund Reports

Dividend Calendar

Fundamental Income Net Lease Real Estate Index: The Fundamental Income Net Lease Real Estate Index (NETLXT) is a rules based, passive index that, for the first time, defines and tracks the performance of the rapidly expanding net lease real estate sector in a diversified manner.

It is not possible to invest directly in an index.

Exchange Traded Concepts, LLC serves as the investment advisor. Fundamental Income serves as the index provider. The Funds are distributed by Quasar Distributors, LLC which is not affiliated with Fundamental Income, Exchange Traded Concepts, LLC or any of their affiliates.

The Funds’ investment objectives, risks, charges, and expenses must be considered carefully before investing. The prospectus contains this and other important information about the investment company and may be obtained by clicking here. Please read it carefully before investing. A free, hard-copy of the prospectus can also be requested by calling 1-800-617-0004.

Investments involve risk. Principal loss is possible. The fund may trade at a premium or discount to NAV. 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. The Index, and consequently the Fund, is expected to concentrate its investments in real estate companies. As a result, the value of the Fund’s shares may rise and fall more than the value of shares of a fund that invests in securities of companies in a broader range of industries.

Investments in real estate companies and REITs involve unique risks, including limited financial resources, they may trade less frequently and in limited volume, and they may be more volatile than other securities. In addition, securities in the real estate sector are subject to certain risks associated with direct ownership of real estate and the risk that the value of their underlying real estate may go down. Companies in the Net Lease Real Estate sector may be affected by unique factors related to leasing properties to single tenants including dependence on the financial performance of its’ tenants and lease terms related to rent escalations based on economic measurements. The fund may invest in foreign securities which involves political, economic and currency risks, differences in accounting methods and greater volatility. Investments in small and mid-sized companies have historically been subject to greater investment risk than large company stocks.

The 30-Day SEC yield is a standardized yield calculation based on the most recent 30-day period covered by the fund’s filings with the SEC. The yield figure reflects dividends and interest earned during the period after the deduction of the fund’s expenses.

Returns for periods of less than one year are not annualized. Performance data represents past performance and does not guarantee future results. An investor’s return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. Performance data current to the most recent month-end can be obtained by calling 800-617-0004.

Performance data quoted represents past performance and is no guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the original cost. Returns for periods of less than one year are not annualized. The market price returns are based on the official closing price of an ETF share or, if the official closing price isn’t available, the midpoint between the national best bid and national best offer (“NBBO”) as of the time the ETF calculates current NAV per share, and do not represent the returns you would receive if you traded shares at other times. Beginning 12/21/2020, market price returns are calculated using closing price or the NBBO midpoint at 4:00 PM ET. Prior to that date, the midpoint of the bid/ask spread at 4:00 PM ET was used.

Market Price: The current price at which shares are bought and sold. The market price returns are based on the official closing price of an ETF share or, if the official closing price isn’t available, the midpoint between the national best bid and national best offer (“NBBO”) as of the time the ETF calculates current NAV per share, and do not represent the returns you would receive if you traded shares at other times. Beginning 12/21/2020, market price returns are calculated using closing price or the NBBO midpoint at 4:00 PM ET. Prior to that date, the midpoint of the bid/ask spread at 4:00 PM ET was used.

A basis point is a common unit of measure for interest rates and other percentages in finance. One basis point is equal to 1/100th of 1%, or 0.01% (0.0001).

NAV: 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.

Debt/Enterprise Value: Debt-to-Enterprise Value is the weighted average Total Debt-to-Enterprise Value of the index constituents, where Total Debt is as of most recent constituent company 10K or 10Q filings. Enterprise Value is equal to the equity market capitalization as of December 31, 2022 plus total debt and preferred equity less cash as of most recent constituent company 10K or 10Q filing. Weightings for each constituent based on NETL weighting as of 12/31/2022.

Credit Rating: is a quantified assessment of the creditworthiness of a borrower in general terms or with respect to a particular debt or financial obligation. A credit rating can be assigned to any entity that seeks to borrow money—an individual, a corporation, a state or provincial authority, or a sovereign government.

Ratings are determined by private independent rating services such as Standard & Poor’s, Moody’s and Fitch. These firms evaluate a bond issuer’s financial strength, or its ability to pay a bond’s principal and interest in a timely fashion.Ratings are expressed as letters ranging from ‘AAA’, which is the highest grade, to ‘D’, which is the lowest grade. To be considered an investment grade issue, the company must be rated at ‘BBB’ or higher by Standard and Poor’s orMoody’s.

Bank of America BBB Corporate Index: a subset of the ICE BofA US Corporate Master Index tracking the performance of US dollar denominated investment grade rated corporate debt publicly issued in the US domestic market. This subset includes all securities with a given investment grade rating BBB. When the last calendar day of the month takes place on the weekend, weekend observations will occur as a result of month ending accrued interest adjustments.