Glossary of Terms
These defined terms appear throughout the Fund website. Click on a term to display/hide the definition.
The price a seller is willing to accept for a security, also known as the offer price.
Basis Point (BPS) [+/-]
One hundredth of a percentage point (1 basis point = 0.01%).
An offer made by an investor, a trader or a dealer to buy a security.
Bid/Ask Midpoint (Market Price) [+/-]
The midpoint between the highest bid and the lowest offer on the listing exchange, as of the time the Fund’s NAV is calculated (normally 4:00pm ET for the cash market).
The amount the Fund is trading below the reported NAV.
The DIVCON Scoring system begins by identifying the 500 largest U.S. companies based on market capitalization as of the Benchmark Index reconstitution date and then narrows this universe to those companies that paid an ordinary dividend and announced a future dividend payment during the 12 months preceding such date. The DIVCON Scoring system analyzes quantitative factors that Reality Shares has determined to be correlated to a company’s likelihood to increase or decrease future dividends, and weights each factor based on its effectiveness in predicting dividend changes to produce a company’s DIVCON Score. After a DIVCON Score is calculated for each company, it is assigned a rating from 1 to 5 according to the DIVCON Rating system. Companies in the DIVCON 1 category are those determined most likely to decrease their dividend in the next twelve months. Companies in the DIVCON 5 category are those determined most likely to increase their dividend in the next twelve months.
Long Position [+/-]
The result of an action whereby an investor purchases a security anticipating the position value will increase over time.
Market Risk [+/-]
The risk that the market price of a security may move up and down, sometimes rapidly and unpredictably.
Net Asset Value (NAV) [+/-]
NAV is the closing price per share at which each Fund issues and redeems shares. It is calculated by the Fund administrator at the close of regular trading (normally 4:00pm ET for the cash market) every day the primary listing exchange is open.
New Fund Risk [+/-]
The Fund is newly organized and the Adviser has not previously served as investment adviser to an ETF. Accordingly, there is a risk that the Fund may not employ a successful investment strategy or successfully implement its strategy and that the Fund may fail to attract sufficient assets under management to realize economies of scale. As a result, the performance of the Fund could vary from its stated objective and you could lose money.
The amount the Fund is trading above the reported NAV.
Short Position [+/-]
The result of an action whereby an investor sells a borrowed security anticipating the position value will decrease over time.
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