Data as of 08/15/2022
Primary Exchange NYSE
# of Holdings 23
Shares Outstanding 3,975,000
NET ASSETS 112,855,373
Median 30-Day Bid/Ask Spread 0.48%
Data as of 08/15/2022
Ticker NETL
Fund Inception Date 03/21/2019
Expense Ratio 0.60%
CUSIP 26922A248
30-Day SEC Yield 4.51%
Net Asset Value (NAV)
NAV 28.39
Daily Change ($) 0.14
Daily Change (%) 0.50%
Market Value
Closing Price 28.4438
Daily Change ($) 0.1392
Daily Change (%) 0.49%

Performance

Month end as of 07/31/2022

1 Month 3 Month YTD 1 Year 3 Years 5 Years Since Inception
Fund NAV 8.87% 3.23% -9.66% -7.14% 6.56% TBD 7.7%
Market Price 9.42% 3.28% -9.46% -6.96% 6.69% TBD 7.85%

Quarter end as of 06/30/2022

1 Month 3 Month YTD 1 Year 3 Years 5 Years Since Inception
Fund NAV -4.09% -10.92% -17.02% -9.49% 3.85% TBD 5.14%
Market Price -4.67% -11.32% -17.25% -9.7% 3.86% TBD 5.14%

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 08/15/2022

Company Name Ticker FIGI Shares Market Value % of Net Asset Values
VICI PROPERTIES INC. VICI BBG00HVVB499 278430 9,892,617.90 8.77%
REALTY INCOME CP O BBG000DHPN63 125913 9,411,996.75 8.34%
NATIONAL RETAIL PROP NNN BBG000CLP0Y4 193897 9,328,384.67 8.27%
STORE CAPITAL CP STOR BBG00265T6Q4 311329 9,100,146.67 8.06%
W. P. CAREY INC. WPC BBG000BCQM58 102087 9,023,469.93 8.00%
AGREE REALTY ADC BBG000BC9DK0 61734 4,960,326.90 4.40%
ESSENTIAL PROPERTIES EPRT BBG00L17LGJ7 187711 4,762,228.07 4.22%
EPR PROPERTIES EPR BBG000BSZYR3 83818 4,646,031.74 4.12%
SPIRIT REALTY CAPTL SRC BBG0027Z6X10 102282 4,593,484.62 4.07%
STAG INDUSTRIAL STAG BBG000BGLFP7 128973 4,517,924.19 4.00%

Distributions

as of 08/16/2022

Month Notice Date Ex Date Record Date Pay Date Dividend Long Term
Capital Gains
Short Term
Capital Gains
Ordinary
Income
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 0.2307
December 12/29/2021 12/30/2021 12/31/2021 0.21037
December 12/29/2021 12/30/2021 12/31/2021 0.02091543

Premium Discount

NAV Market Price Premium Discount
28.39 28.4438 0.0538

Premium Discount Table

Days traded at nav Days traded at premium Days traded at discount
Calendar Year 2021 4 204 44
First Quarter 2022 1 53 8
Second Quarter 2022 2 31 29

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. Returns are determined based on the midpoint of the bid/ask spread at 4:00pm Eastern time, when the NAV is typically calculated. Market returns does not represent the returns you would receive if you traded shares at other times.

Market Price: The current price at which shares are bought and sold. Market returns are based upon the midpoint or the last bid/ask spread at 4:00pm Eastern time.

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, 2021 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 12/31/2021.

The FTSE NareitUS Real Estate Index Series is designed to present investors with a omprehensive family of REIT performance indexes that spans the commercial real estate space across the U.S. economy. The index series provides investors with exposure to all investment and property sectors. In addition, the more narrowly focused property sector and sub-sector indexes provide the facility to concentrate commercial real estate exposure in more selected markets. The FTSE Nareit Equity REITs index contains all Equity REITs not designated as Timber REITs orInfrastructure REITs.

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.