ETF Research Center

Dividend Performers ETF

ALTAR
Score™

5.2%

Recommen-
dation

NEUTRAL

2025E 2026E
P/E ratio	18.2x	P/Sales ratio	1.4x
P/BV ratio	3.8x	Div. yield	1.7%

Description
Performance
Comps
Fundamentals
Valuation
Rating

IPDP seeks to provide income through an actively managed portfolio of dividend-paying, large-cap US stocks combined with credit spread options on an S&P 500 ETF or index.

FUND BASICS
Category	US Equities
Fund Sponsor	Sheaff Brock Capital Management LLC
Website	innovativeportfolios.com/ipdp-dividend-performers-etf/
Inception date	Mar 07, 2022
Assets (mns)	$23
Currency	USD
Expense ratio	122 bp
Distributions	Quarterly

FUND STRUCTURE
Regulation	Open-Ended Fund
Custodian
Weighting	Proprietary
Index replication
Uses derivatives	No
Options available	No

SECTOR BREAKDOWN

CONSTITUENT BREAKDOWN
No. of constituents	50
Wgt avg mkt cap (mns)	$131,821
Large cap (>$10bn)	83.2%
Mid cap ($2-10bn)	11.6%
Small cap (<$2bn)	5.2%
Developed mkts	100.0%
Emerging mkts	0.0%

TOP TEN HOLDINGS
Total	100.0 %
CASH & OTHER	100.0 %

TOP COUNTRY EXPOSURE
		0.0 %

HISTORICAL PERFORMANCE info

	Custom date range	Compare to
	thru

Standardized Annual Returns (thru August 31)
Year-to-date	1 year	5 years	10 years	Since Incep.
9.0%	9.5%	--	--	12.9%

Market Correlations
versus...	Beta	R-squared
S&P500	1.09	79%
MSCI EAFE	0.70	38%
MSCI Emg. Mkts.	0.50	15%

Technical Indicators
Recent close	$20.52
30d moving avg.	$20.35
Annualized volatility	15.4%
Short interest (ETF)	0.0%
Relative strength (RSI)	56

Liquidity measures
Avg. volume (thou.)	0
Turnover	0.0%
Bid/Ask (% of price)	0.46%
ADV underlying (mns)	$23,141

Distributions

There were no matches found with other funds under coverage.

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RESULTS & ESTIMATES

	2020	2021	2022	2023	2024	2025E	2026E
Sales per share	**	**	**	**	**	**	**
Earnings per share	**	**	**	**	**	**	**
Dividends per share	**	**	**	**	**	**	**
Book value per share	**	**	**	**	**	**	**

Sales per share growth		**%	**%	**%	**%	**%	**%
EPS growth		**%	**%	**%	**%	**%	**%

Sales per share growth		**%	**%	**%	**%	**%	**%
EPS growth		**%	**%	**%	**%	**%	**%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est.	**%		Debt-to-equity	**x
Asset turnover	**%		Assets-to-equity	**x

Return on equity

Revision activity*

*Six months ago = 100

Net margins

Compound annual growth rates

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VALUATION METRICS

	2024	2025E	2026E
Price-to-sales	**	**	**
Price-to-earnings	**	**	**
Price-to-cash flow	**	**	**
Price-to-growth	**	**	**
Price-to-book value	**	**	**
Yield	**	**	**

Historical valuation trends

Forward multiple:	Dividend Performers ETF
Relative to:	S&P500	MSCI EAFE	MSCI Emg. Mkts.	Other ETF:

NEUTRAL

Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

ALTAR Score™

Calculation of ALTAR Score™
Avg. Return on Equity	21.9	%
Divided by: Fwd. P/BV	3.4	x
Less: Expense ratio	122	bp
Equals: ALTAR Score	5.2	%

More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS

COMPOSITE RATING	1.60	CATEGORY AVERAGE	1.59

The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale: BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3. Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.