CCM Affordable Housing MBS ETF (OWNS)

The primary investment objective of the CCM Affordable Housing MBS ETF (ticker: OWNS) is to generate a level of current income.

OWNS looks to offer investors a capital markets solution for bridging the racial wealth gap to help address the affordable housing crisis in the U.S. and looks to make a positive impact on the well-being of individuals, families, and communities. Agency mortgage-backed securities (MBS) in OWNS will be backed by pools of mortgage loans meeting one or more of the following criteria:1

  • Low- and moderate-income (LMI) and/or minority borrower
  • Loans in racially/ethnically concentrated areas of poverty (R/ECAPs), where more than 50% of the population is non-white and at least 40% of the population is living at or below the poverty line
  • Loans in persistent poverty counties (PPCs), where 20% or more of the population has lived in poverty for more than 20 years

OWNS for Banks: OWNS will invest at least 51% of its net assets in MBS that its investment advisor believes will be deemed to be qualified under the Community Reinvestment Act of 1977 (CRA), so that financial institutions that are subject to the CRA may receive investment test or similar consideration/credit under the CRA with respect to shares of the Fund held by them.

1https://www.federalreserve.gov/consumerscommunities/cra_resources.htm; https://www.ffiec.gov/census/; https://hudgis-hud.opendata.arcgis.com/datasets/56de4edea8264fe5a344da9811ef5d6e_0; https://ruralhome.org/our-initiatives/persistent-poverty/

Fund Facts
Asset Class Fixed Income
Ticker OWNS
Inception Date 7/26/2021
Primary Exchange NYSE Arca
CUSIP 74741A106
Benchmark Bloomberg U.S. MBS Index
Net Expense Ratio 0.30%
Gross Expense Ratio 0.51%
Strategy Type Impact MBS
Fund Data and Pricing as of 07/24/2024
Net Assets $118,733,762
Shares Outstanding 7,000,000
NAV $16.96

Community Capital Management LLC has contractually agreed to limit the total annual operating expenses (exclusive of fees paid by the Fund pursuant to its distribution plan under Rule 12b-1 under the Investment Company Act of 1940, as amended, taxes, brokerage commissions and other transaction costs, interest payments, acquired fund fees and expenses, extraordinary expenses and dividend expenses on short sales) of the Fund to 0.30%. Waivers are contractual and in effect until October 31, 2024. This contract may not be terminated without the action or consent of the Fund’s Board of Trustees.

Returns as of 06/30/2024
Returns as of 06/30/2024
Monthly
Quarterly
Monthly
Quarterly
Monthly
Quarterly
  1-MO 3-MO 6-MO YTD 1-YR 3-YR 5-YR 10-YR Since Inception
Fund NAV 1.22% 0.26% -0.71% -0.71% 1.62% - - - -3.17%
Market Price 1.89% 0.44% -0.53% -0.53% 1.86% - - - -3.08%
  3-MO 6-MO YTD 1-YR 3-YR 5-YR 10-YR Since Inception
Fund NAV 0.26% - -0.71% 1.62% - - - -3.17%
Market Price 0.44% - -0.53% 1.86% - - - -3.08%
Daily Change as of 07/24/2024
Net Asset Value (NAV)
NAV $16.96
Daily Change $-0.05 (-0.29%)
Market Price
Market Price $17
Daily Change $-0.01 (-0.06%)
Premium/ Discount as of 07/24/2024
NAV $16.96
Market Price $17
Premium/Discount $0.03 (0.19%)
30-Day Median Bid Ask Spread -
45 Days at Premium 0 Days at NAV 20 Days at Discount
Distribution Detail
Ex-Date Record Date Payable Date Amount
9/27/21 8/08/21 09/30/21 $0.04

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 or sold, 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. Market returns does not represent the returns you would receive if you traded shares at other times. For performance data current to the most recent month end, please call 844-448-3383. Performance prior to March 18, 2024 is that of the predecessor fund, which was managed in a similar manner.

MARKET PRICE The 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. NAVs are calculated using prices as of (4:00 PM Eastern Time).

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.

30-Day Median Bid Ask Spread is a calculation of Fund’s median bid-ask spread, expressed as a percentage rounded to the nearest hundredth, computed by: identifying the Fund’s national best bid and national best offer as of the end of each 10 second interval during each trading day of the last 30 calendar days; dividing the difference between each such bid and offer by the midpoint of the national best bid and national best offer; and identifying the median of those values.

Top 10 Holdings (subject to change) as of 07/24/2024
Name CUSIP Shares Held Market Value ($) Percent of Net Assets
FR RA7748 3% 08/01/52 3133KPTD0 9,481,843.18 $8,141,445.36 6.86%
FN CB2400 2.5% 12/01/51 3140QMU28 7,109,991.27 $5,864,468.26 4.94%
FN BT7259 2% 09/01/51 3140LWB55 4,989,020.01 $3,982,959.18 3.35%
FN CB7019 4.5% 09/01/53 3140QSYR6 2,957,974.45 $2,809,087.29 2.37%
FN BT7189 2% 08/01/51 3140LV7B9 1,710,252.62 $1,365,615.25 1.15%
FN BT7190 2.5% 08/01/51 3140LV7C7 2,995,515.00 $2,487,150.58 2.09%
FN BT7260 2.5% 09/01/51 3140LWB63 1,563,037.73 $1,302,497.39 1.10%
FN BT7351 2% 10/01/51 3140LWEZ6 2,304,993.09 $1,840,383.91 1.55%
FN CB3606 3.5% 05/01/52 3140QPAG2 2,837,502.25 $2,535,812.74 2.14%
FN BV3213 2% 02/01/52 3140MGSB8 1,172,269.79 $936,043.63 0.79%
Purchase Information

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OWNS ETF trades intraday on an exchange. OWNS is available through various channels including broker-dealers, investment advisers, and other financial service firms.

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Carefully consider the Fund’s investment objectives, risk factors, charges, and expenses before investing. This and additional information can be found in the statutory and summary prospectus, which may be obtained by calling 844-448-3383, or by visiting www.ccminvests.com. Read the prospectuses carefully before investing.

Investing involves risk, including the possible loss of principal. Shares are bought and sold at market prices (not NAV) and are not individually redeemed from the Fund. Brokerage commissions will reduce returns. Investment in commodities are subject to much higher volatility than more traditional investments. Narrowly focused investments and investment in smaller companies typically exhibit higher volatility. Bonds and bond funds are subject to interest rate risk and will decline in value as interest rates rise. Mortgage-backed securities are subject to prepayment and extension risk and therefore react differently to changes in interest rates than other bonds. Small movements in interest rates may quickly and significantly reduce the value of certain mortgage-backed securities. OWNS is an actively managed fund and does not seek to replicate a specified index. The Fund is non-diversified.

The Fund is distributed by SEI Investments Distribution Co. (SIDCO), which is not affiliated with Community Capital Management.

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