Management team
Sub-advisor
David Crall, CFAChief Executive Officer and Chief Investment Officer of NCRAM
Stephen Kotsen, CFAPortfolio Manager
Amy Yu Chang, CFAPortfolio Manager
Christopher Parham, CFAAssistant Portfolio Manager
Nomura High Yield Total Return ETF provides access to high yield bonds through a disciplined investment approach managed by an experienced team with a demonstrated track record. It seeks to deliver attractive returns with income generation and diversification benefits relative to traditional fixed income.
Experienced team
Among the longest-tenured managers in the high yield asset class, providing specialized knowledge few competitors can match
Disciplined philosophy
Focus on businesses with competitive advantages, manageable leverage to cash flow generation, and compelling relative value
Effective diversifier
Low correlation to Treasuries provides differentiated return streams, helping provide potential yield and growth
ICE BofA US High Yield Constrained Index
Returns for less than one year are not annualized.
Benchmark since inception returns are as of the Fund's inception date.
The performance data quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted. Performance data current to the most recent month-end may also be obtained by calling 844 469-9911.
Index returns are for illustrative purposes only. Index performance returns do not reflect any management fees, transaction costs, or expenses. Indices are unmanaged and one cannot invest directly in an index.
We'll provide the depth of experience and resources needed to help address the changing dynamics of today's markets. From ETFs, SMAs, and mutual funds to private markets, our team can help you identify investment solutions aligned to your clients' financial needs.
Risk Disclosures
Carefully consider the Fund's investment objectives, risk factors, and charges and expenses before investing. This and other information can be found in the Fund's prospectus or the summary prospectus, which may be obtained by visiting the Nomura ETF Trust resource pages or calling 844 469-9911. Read the prospectus carefully before investing.
Fixed income securities can lose value, including the possible loss of principal. Fixed income securities are subject to credit risk and interest rate risk. Credit risk is the risk that an issuer of a fixed income security may be unable to make interest payments and/or repay principal in a timely manner. Interest rate risk is the risk that prices of bonds and other fixed income securities will increase as interest rates fall and decrease as interest rates rise. Fixed income securities with longer maturities or duration generally are more sensitive to interest rate changes.
High yield securities (“junk bonds”) are subject to reduced creditworthiness of issuers, increased risk of default, and a more limited and less liquid secondary market. High yield securities may also be subject to greater price volatility and risk of loss of income and principal than higher-rated securities.
The principal on a fixed income security may be prepaid prior to maturity, which may require reinvestment at a lower interest rate.
If a fund or strategy invests in bonds whose income is subject to the alternative minimum tax, that portion of the fund or strategy’s distributions would be taxable for investors who are subject to this tax.
Nomura ETF Trust exchange-traded funds (ETFs) are actively managed and do not seek to replicate a specific index. ETF shares are bought and sold through an exchange at the then current market price, not net asset value (NAV), and are not individually redeemed from the fund. Shares may trade at a premium or discount to their NAV when traded on an exchange. Brokerage commissions will reduce returns. There can be no guarantee that an active market for ETFs will develop or be maintained, or that the ETF's listing will continue or remain unchanged.
Investing in any exchange-traded fund involves the risk that you may lose part or all of the money you invest.
Over time, the value of your investment in the Fund will increase and decrease according to changes in the value of the securities in the Fund’s portfolio. An investment in the Fund may not be appropriate for all investors.
The Fund’s principal risks include but are not limited to the following:
Market risk is the risk that all or a majority of the securities in a certain market — like the stock market or bond market — will decline in value because of factors such as adverse political or economic conditions, future expectations, investor confidence, or heavy institutional selling.
The fund or strategy is subject to liquidity risk, which is the risk that the fund or strategy’s investments cannot be readily sold within seven calendar days at approximately the price at which the fund or strategy has valued them.
The Fund is a newly organized, diversified management investment company with limited operating history. In addition, there can be no assurance that the Fund will grow to, or maintain, an economically viable size, in which case the Board may determine to liquidate the Fund.
Active management and selection risk is the risk that the securities selected by a fund’s management will underperform the markets, the relevant indices, or the securities selected by other funds with similar investment objectives and investment strategies. The securities and sectors selected may vary from the securities and sectors included in the relevant index.
Heightened sensitivity to regional, state, US territories or possessions, and local political and economic conditions could adversely affect performance.
If a bond issuer prepays a bond during a period of low interest rates, the fund may have to reinvest that money at lower interest rates.
Governments or regulatory authorities may take actions that could adversely affect various sectors of the securities markets and affect performance.
The Funds are actively managed. The Manager applies a Fund's investment strategies and selects securities for the Fund in seeking to achieve the Fund's investment objective(s). There can be no guarantee that its decisions will produce the desired results, and securities selected by a Fund may not perform as well as the securities held by other exchange-traded funds with investment objectives that are similar to the investment objective(s) of the Fund. In general, investment decisions made by the Manager may not produce the anticipated returns, may cause a Fund's shares to lose value or may cause a Fund to perform less favorably than other exchange-traded funds with similar investment objectives
The Fund is an ETF, and, as a result of an ETF’s structure, it is exposed to the following risks: “Authorized participants, market makers and liquidity providers concentration risk,” “Secondary Market Trading Risk” and “Shares may trade at prices other than NAV risk.”
Only authorized participants (“APs”) may engage in creation or redemption transactions directly with the Fund. The Fund has a limited number of financial institutions that are institutional investors and may act as APs. In addition, there may be a limited number of market makers and/or liquidity providers in the marketplace, and they have no obligation to submit creation or redemption orders. To the extent either of the following events occur, the Fund’s shares may trade at a material discount to net asset value (“NAV”) and possibly face delisting: (i) APs exit the business or otherwise become unable to process creation and/or redemption orders and no other APs step forward to perform these services, or (ii) market makers and/or liquidity providers exit the business or significantly reduce their business activities and no other entities step forward to perform their functions. These events, among others, may lead to the Fund’s shares trading at a premium or discount to NAV. A diminished market for an ETF's shares substantially increases the risk that a shareholder may pay considerably more or receive significantly less than the underlying value of the ETF shares bought or sold.
Although the Fund’s shares are listed on a national securities exchange, The New York Stock Exchange (“Exchange”), and may be traded on U.S. exchanges other than the Exchange, there can be no assurance that an active or liquid trading market for them will develop or be maintained. In addition, trading in the Fund’s shares on the Exchange may be halted. In addition, an exchange or market may issue trading halts on specific securities or financial instruments. As a result, the ability to trade certain securities or financial instruments may be restricted, which may disrupt the Fund’s creation/redemption process or affect the price at which shares trade in the secondary market.
As with all ETFs, shares of the Fund may be bought and sold in the secondary market at market prices. The Fund’s NAV is calculated at the end of each business day and fluctuates with changes in the market value of the Fund’s holdings, while the trading price of the shares fluctuates continuously throughout trading hours on the Exchange, based on both the relative market supply of, and demand for, the shares and the underlying value of the Fund’s holdings. As a result, although it is expected that the market price of the Fund’s shares will approximate the Fund’s NAV, there may be times when the market price of the Fund’s shares is more than the NAV intra-day (premium) or less than the NAV intra-day (discount). This risk is heightened in times of market volatility or periods of steep market declines.
Transactions in shares of ETFs will result in brokerage commissions and will generate tax consequences. All regulated investment companies are obliged to distribute portfolio gains to shareholders.
Shares of ETFs are bought and sold at market price (not NAV) and are not individually redeemed from the fund. Any applicable brokerage commissions will reduce returns.
The Fund is a newly organized management investment company with no operating history. In addition, there can be no assurance that the Fund will grow to, or maintain, an economically viable size, in which case the Board of Trustees of the Trust (the “Board") may determine to liquidate the Fund.
Not FDIC Insured • No Bank Guarantee • May Lose Value
All third-party marks cited are the property of their respective owners.
Delaware Management Company is a series of Nomura Investment Management Business Trust (a Delaware statutory trust).
Nomura ETF Trust exchange-traded funds (ETFs) are actively managed and do not seek to replicate a specific index. ETF shares are bought and sold through an exchange at the then current market price, not net asset value (NAV), and are not individually redeemed from the fund. Shares may trade at a premium or discount to their NAV when traded on an exchange. Brokerage commissions will reduce returns. There can be no guarantee that an active market for ETFs will develop or be maintained, or that the ETF's listing will continue or remain unchanged.
The value of securities in a particular industry or sector will decline because of changing expectations for the performance of that industry or sector.
The Nomura ETF Trust Funds are distributed by Foreside Financial Services, LLC. Foreside Financial Services, LLC is not affiliated with any Nomura entity, including Delaware Management Company and Delaware Distributors, L.P.