6 Meridian Hedged Equity-Index Option Strategy ETF
ALTAR
Score™		 7.1% info Recommen-
dation		 OVERWEIGHT
2023E    2024E
P/E
ratio		 15.6x P/Sales
ratio		 2.3x
P/BV
ratio		 3.5x Div.
yield		 2.8%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
SIXH is an actively managed fund that provides exposure to US equities and sellscall options against SPY.

FUND BASICS
Category US Equities
Fund Sponsor Exchange Traded Concepts
Website www.6meridianfunds.com/sixh
Inception date May 11, 2020
Assets (mns) $361
Currency USD
Expense ratio 82 bp
Distributions Monthly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 57
Wgt avg mkt cap (mns) $264,454
Large cap (>$10bn) 100.0%
Mid cap ($2-10bn) 0.0%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
SPDR BLOOMBERG BARCLAYS 1-3 MONTH 4.9 %
ELI LILLY & CO 4.0 %
ALTRIA GROUP INC 3.8 %
ABBVIE INC 3.6 %
NVIDIA CORP 2.9 %
ADOBE SYSTEMS INC 2.7 %
CATERPILLAR INC 2.7 %
ALPHABET INC. CLASS A 2.7 %
META PLATFORMS INC 2.7 %
KRAFT HEINZ COMPANY 2.6 %
Total 32.4 %

TOP COUNTRY EXPOSURE
UNITED STATES 94.5 %
IRELAND 1.4 %
BRITAIN 1.3 %








HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru November 30)
Year-to-date 1 year 5 years 10 years Since Incep.
4.0% 4.3% -- -- 6.7%

Market Correlations
versus... Beta R-squared
S&P500 0.43 49%
MSCI EAFE 0.45 53%
MSCI Emg. Mkts. 0.27 19%

Technical Indicators
Recent close $32.93
30d moving avg. $32.01
Annualized volatility 12.1%
Short interest (ETF) 0.0%
Relative strength (RSI) 55

Liquidity measures
Avg. volume (thou.) 6
Turnover 0.1%
Bid/Ask (% of price) 0.25%
ADV underlying (mns) $72,409

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 35 potential alternatives to the 6 Meridian Hedged Equity-Index Option Strategy ETF ETF based on the alternatives' overlap in portfolio holdings with SIXH. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: SIXH Expense: 82 bp ALTAR Score™: 7.1%


ALTERNATIVE ETFs BASED ON OVERLAP WITH SIXH
Ticker Fund
Name		 Overlap1
vs SIXH
(%)		 Expense
ratio
(bp)		 Savings
vs SIXH
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs SIXH
(%)
SFLR Innovator Equity Managed Floor ETF 36.3 89 -7 4.7 -2.4
PBP Invesco S&P 500 BuyWrite ETF 33.9 49 33 5.5 -1.6
XYLD Global X S&P 500 Covered Call ETF 33.7 60 22 5.4 -1.7
XRMI Global X S&P 500 Risk Managed Income ETF 33.7 60 22 5.5 -1.7
XYLG Global X S&P 500 Covered Call & Growth ETF 33.5 60 22 5.2 -1.9
ACIO Aptus Collared Income Opportunity ETF 33.5 79 3 4.8 -2.3
XTR Global X S&P 500 Tail Risk ETF 33.5 26 56 5.6 -1.5
XCLR Global X S&P 500 Collar 95-110 ETF 33.4 25 57 5.7 -1.4
XYLE Global X S&P 500 ESG Covered Call ETF 31.7 60 22 5.4 -1.8
EFIV SPDR S&P 500 ESG ETF 31.5 10 72 5.5 -1.6
FTQI First Trust Nasdaq BuyWrite Income ETF 31.4 85 -3 4.3 -2.8
QYLD Global X NASDAQ 100 Covered Call ETF 31.2 60 22 5.1 -2.0
QRMI Global X NASDAQ 100 Risk Managed Income ETF 31.1 60 22 5.1 -2.0
QYLG Global X Nasdaq 100 Covered Call & Growth ETF 31.0 60 22 4.9 -2.3
NUSI Nationwide Risk-Managed Income ETF 30.9 68 14 4.7 -2.5
QCLR Global X NASDAQ 100 Collar 95-110 ETF 30.8 25 57 5.1 -2.0
QTR Global X NASDAQ 100 Tail Risk ETF 30.8 26 56 5.2 -1.9
QYLE Global X Nasdaq 100 ESG Covered Call ETF 30.1 60 22 5.4 -1.7
FTHI First Trust High Income ETF 29.6 85 -3 5.6 -1.5
CCOR Core Alternative ETF 28.8 107 -25 5.5 -1.6
JEPQ J.P. Morgan Nasdaq Equity Premium Income ETF 27.3 35 47 5.0 -2.1
DIVO Amplify YieldShares CWP Dividend & Option Income ETF 26.5 55 27 6.2 -0.9
DJIA Global X Dow 30 Covered Call ETF 25.9 60 22 6.0 -1.1
DYLG Global X Dow 30 Covered Call & Growth ETF 25.9 60 22 5.8 -1.3
XVOL Acruence Active Hedge U.S. Equity ETF 22.5 83 -1 5.4 -1.7
KNG FT Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF 20.9 75 7 6.2 -0.9
STLG iShares Factors US Growth Style ETF 20.8 25 57 5.9 -1.2
MMLG First Trust Multi-Manager Large Growth ETF 20.1 85 -3 2.7 -4.4
HYLG Global X Health Care Covered Call & Growth ETF 13.1 60 22 7.3 +0.2
QQQA ProShares Nasdaq-100 Dorsey Wright Momentum ETF 12.4 58 24 3.2 -3.9
TYLG Global X Information Technology Covered Call & Growth ETF 12.1 60 22 5.2 -1.9
THNQ ROBO Global Artificial Intelligence ETF 12.1 68 14 2.0 -5.1
GRES IQ Global Resources ETF 8.6 30 52 8.1 +1.0
FYLG Global X Financials Covered Call & Growth ETF 2.8 60 22 6.1 -1.1
LCG Sterling Capital Focus Equity ETF 2.6 59 23 5.1 -2.1

1Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

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RESULTS & ESTIMATES

  2018 2019 2020 2021 2022 2023E 2024E
Sales per share ** ** ** ** ** ** **
Earnings per share ** ** ** ** ** ** **
Dividends per share info ** ** ** ** ** ** **
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
  2022 2023E 2024E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:		 6 Meridian Hedged Equity-Index Option Strategy ETF
Relative
to:		 S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

OVERWEIGHT
Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 23.9 %
Divided by: Fwd. P/BV 3.0 x
Less: Expense ratio 82 bp
Equals: ALTAR Score 7.1 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.50 CATEGORY
AVERAGE		 1.49
 
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.
 

 

See RATING tab for calculation of ALTAR Score™
Risk & reward. Uses std. dev. as proxy for risk, ALTAR Score™ for return forecast.
Dividends paid by constituents to the fund. May differ from actual distributions to shareholders due to constituent changes, timing issues or other factors.
Monthly returns based on changes in price plus dividends. May differ from daily returns reported by funds. See below for standardized returns.