Sage ESG Intermediate Credit
ALTAR
Score™
1.8% info Median Credit
S&P/Moody's
BBB+/Baa1
 
Yield to
Maturity
2.4% Current
Yield
3.2%
Macaulay
Duration
4.2 yrs Modified
Duration
4.2%


  • Description
  • Performance
  • Fundamentals
  • Rate Sensitivity
  • Rating
The Sage ESG Intermediate Credit ETF seeks to provide investors access to a diversified portfolio of investment grade corporate bonds issued by companies with best-in-class ESG characteristics, strong fundamentals, and a high degree of liquidity. This ETF tracks the Sage ESG Credit Intermediate Index.

FUND BASICS
Category Corporate
Fund Sponsor Sage
Website www.sageetfs.com
Inception date Oct 31, 2017
Assets (mns) $18
Currency USD
Expense ratio 35 bp
Distributions Monthly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting
Index replication

ISSUER TYPE BREAKDOWN

CONSTITUENT BREAKDOWN
No. of constituents 92
No of distinct issuers 62
Inflation protected 0%
Variable/Fixed coupon 4% /96%
Non-standard maturity (callable, etc.) 65%

TOP TEN HOLDINGS
JPMORGAN CHASE & CO. 3.7% 5/06/30 1.3 %
CELGENE CORPORATION 3.5% 11/15/27 1.2 %
CVS HEALTH CORPORATIO 2.9% 6/01/26 1.2 %
VODAFONE GROUP PLC 4.4% 5/30/28 1.2 %
MCCORMICK & COMPANY, 3.2% 8/15/24 1.2 %
STATE STREET CORPORAT 2.7% 5/19/26 1.2 %
DTE ENERGY COMPANY 3.8% 3/15/27 1.2 %
GILEAD SCIENCES, INC. 3.7% 3/01/26 1.2 %
EXELON CORPORATION 3.5% 6/01/22 1.2 %
FLEX LTD. 4.8% 6/15/25 1.2 %
   
TOTAL 12.0 %

TOP ISSUERS
COMCAST CORPORATION4.0%
INTERNATIONAL BANK FOR RECONSTRUCT...4.0%
ONEOK, INC.3.6%
CVS HEALTH CORPORATION3.3%
ASIAN DEVELOPMENT BANK2.8%

TOP COUNTRY EXPOSURE
UNITED STATES 79.4 %
CANADA 3.9 %
UNITED KINGDOM 3.2 %
PHILIPPINES 2.8 %
LUXEMBOURG 2.6 %

 





HISTORICAL RETURNS info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru September 30)
Year-to-date 1 year 5 years 10 years Since Incep.
8.3% 9.2% -- -- 4.1%

Market Correlations
versus... Beta R-squared
Barclays Agg. Bond 0.62 69%
S&P500 0.02 1%
MSCI EAFE 0.02 1%
MSCI Emg. Mkts. 0.01 0%

Technical Indicators
Recent close $51.13
30d moving avg. $51.16
Annualized volatility 2.7%
Short interest (ETF) 0.0%
Relative strength (RSI) 45
Liquidity measures
Avg. volume (thou.) 1
Avg. daily value traded (mns) $0
Turnover 0.3%
Bid/Ask (% of price) 0.36

Distributions


Yield Comparison

*Fund Category: CORPORATE

CREDIT QUALITY: MOODY'S

DISTRIBUTION YIELD (TRAILING 12 MONTHS)
Macaulay Duration info
 
GUDB 4.2 yrs Category
Avg.*
4.6 yrs
 

Modified Duration info
 
GUDB 4.2% Category
Avg.*
4.6%

RATE SENSITIVITY ANALYSIS info
Change
in YTM
New
YTM
Est. Price
Change
Est. New
Price
+300 bp 5.43% -9.8% $46.11
+200 bp 4.43% -7.1% $47.48
+150 bp 3.93% -5.6% $48.27
+100 bp 3.43% -3.9% $49.15
+75 bp 3.18% -3.0% $49.62
+50 bp 2.93% -2.0% $50.10
+25 bp 2.68% -1.0% $50.61
0 bp 2.43% 0% $51.13
-25 bp 2.18% 1.1% $51.67
-50 bp 1.93% 2.2% $52.24
-75 bp 1.68% 3.3% $52.82
-100 bp 1.43% 4.5% $53.42
-150 bp 0.93% 6.9% $54.68
-200 bp 0.43% 9.6% $56.02
-300 bp -0.57% 15.2% $58.92

*Fund Category: CORPORATE

ALTAR Score™


Calculation of ALTAR Score™
Adj. Yield to Maturity info 243 bp
Less: Annual "default factor" info 25 bp
Less: Expense ratio 35 bp
Equals: ALTAR Score 1.83 %
 

Average ALTAR Score™ by Category
Aggregate 1.7%
Corporate 2.3%
Emerging Market 3.6%
Government 1.7%
Inflation Protected 1.8%
Mortgage 2.8%
Municipals 2.3%
 
*Note: The Sage ESG Intermediate Credit is classified as a Corporate fund.

 

Our estimate of the impact of potential defaults on investor returns, based on historical default and recovery rates for bonds of similar credit rating and maturities.
See RATING tab for calculations of ALTAR Score™
Estimate of fund sensitivity to interest rate changes based on modified duration and convexity adjustment applied to underlying bonds. Note: Less meaningful for inflation-indexed bonds.
Adds expected inflation to real YTM for inflation-linked bonds so that all instruments are compared on a nominal basis
Weighted-average term to maturity of the cash flows from a bond. All else being equal, bonds of longer duration are more sensitive to changes in interest rates than bonds of shorter duration.
Approximation of the change in bond prices given a 100 basis point shift in interest rates. A better estimate, particularly for larger moves in interest rates, is provided by the Rate Sensitivity Analysis below.