Overview

What are NextShares?

For important information about NextShares, click here.

Historical Returns (%) as of Sep 30, 2018

Past performance is no guarantee of future results. Investment return and principal value will fluctuate so that shares, when sold, may be worth more or less than their original cost. Performance is for the stated time period only; due to market volatility, the Fund's current performance may be lower or higher than indicated. The Fund's performance at market price will differ from its results at net asset value (NAV). The market price used to calculate the Market Value return is the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading as of the time that the Fund's NAV is calculated. If you trade your shares at another time during the day, your return may differ. Returns are historical and are calculated by determining the percentage change in NAV or market price (as applicable) with all distributions reinvested at NAV or closing market price (as applicable) on the payment date of the distribution, and are net of management fees and other expenses. Performance less than or equal to one year is cumulative.

The Fund pursues its investment objective by investing in a separate investment fund (the Portfolio). The returns at NAV for periods before the date the Fund commenced operations are for a mutual fund that invests in the Portfolio (the Portfolio Investor). The performance during such period does not represent the performance of the Fund. The prior investment performance of the Portfolio Investor (rather than the Portfolio itself) is shown because it reflects the expenses typically borne by a retail fund investing in the Portfolio. The Portfolio Investor returns are not adjusted to reflect differences between the total net operating expenses of the Fund and the Portfolio Investor during the periods shown. If such an adjustment were made, the performance presented below would be higher, because the Fund's total net operating expenses are lower than those of the Portfolio Investor. Performance is for a share class of the Portfolio Investor offered at net asset value.
 

Fund Facts as of Oct 31, 2018

Inception 03/30/2016
Investment Objective Total return
Total Net Assets4 $6.2M
Total Net Assets of Portfolio4 $323.1M
Exchange NASDAQ
Shares Outstanding 625000
Expense Ratio (Gross)5 1.48%
Expense Ratio (Net)5,6 0.90%
CUSIP 27830G863

Top 10 Holdings (%)7,8,9 as of Oct 31, 2018

Alphabet Inc - CL C
Microsoft Corp
Amazon.com Inc
Apple Inc
Exxon Mobil Corp
American Tower Corp
Johnson & Johnson
Walt Disney Co
ASML Holding NV
BP PLC
Total 13.21
 

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding. Fund primarily invests in an affiliated investment company (Portfolio) with the same objective(s) and policies as the Fund and may also invest directly. References to investments are to the aggregate holdings of the Fund and the Portfolio.

†Intraday Indicative Value (IIV)

The IIV is an estimate of the real-time value of the Fund's underlying holdings based on current market prices and should not be viewed as a projection of NAV, which is determined at the end of the day. Because IIVs will generally differ from the end-of-day NAV of the Fund, they cannot be used to calculate with precision the dollar value of a prescribed number of shares to be bought or sold. Investors should understand that share transaction prices are based on closing NAVs, and that NAVs may vary significantly from IIVs during periods of intraday market volatility. Neither the Fund, the Trust nor any of their affiliates are involved in, or responsible for, the calculation or dissemination of IIVs nor make any warranty as to their accuracy. An inaccuracy in an IIV could result from various factors, including difficulty pricing portfolio instruments on an intraday basis. The IIV is disseminated every 15 minutes during normal trading hours and is as of the time noted above. An IIV is not available when the market is closed.

‡Bid and Ask

The bid and ask prices shown are as of the time noted and may not reflect current quotations. The Fund's NAV normally is determined as of 4:00 p.m. each business day.

About Risk: 

The value of investments held by the Fund may increase or decrease in response to economic, and financial events (whether real, expected or perceived) in the U.S. and global markets. The value of equity securities is sensitive to stock market volatility. Changes in the dividend policies of companies could make it difficult to provide a predictable level of income. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical, currency exchange rates or other conditions. Dividend capture strategies may result in higher portfolio turnover, increased trading costs and potential for capital loss or gains. When interest rates rise, the value of preferred stocks will generally decline. Investments rated below investment grade (sometimes referred to as "junk") are typically subject to greater price volatility and illiquidity than higher rated investments. As interest rates rise, the value of certain income investments is likely to decline. No fund is a complete investment program and you may lose money investing in a fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.


Performance

Historical Returns (%) as of Sep 30, 2018

Past performance is no guarantee of future results. Investment return and principal value will fluctuate so that shares, when sold, may be worth more or less than their original cost. Performance is for the stated time period only; due to market volatility, the Fund's current performance may be lower or higher than indicated. The Fund's performance at market price will differ from its results at net asset value (NAV). The market price used to calculate the Market Value return is the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading as of the time that the Fund's NAV is calculated. If you trade your shares at another time during the day, your return may differ. Returns are historical and are calculated by determining the percentage change in NAV or market price (as applicable) with all distributions reinvested at NAV or closing market price (as applicable) on the payment date of the distribution, and are net of management fees and other expenses. Performance less than or equal to one year is cumulative.

The Fund pursues its investment objective by investing in a separate investment fund (the Portfolio). The returns at NAV for periods before the date the Fund commenced operations are for a mutual fund that invests in the Portfolio (the Portfolio Investor). The performance during such period does not represent the performance of the Fund. The prior investment performance of the Portfolio Investor (rather than the Portfolio itself) is shown because it reflects the expenses typically borne by a retail fund investing in the Portfolio. The Portfolio Investor returns are not adjusted to reflect differences between the total net operating expenses of the Fund and the Portfolio Investor during the periods shown. If such an adjustment were made, the performance presented below would be higher, because the Fund's total net operating expenses are lower than those of the Portfolio Investor. Performance is for a share class of the Portfolio Investor offered at net asset value.
 

Calendar Year Returns (%)

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
Fund at NAV 16.44
Fund at Market Price 16.38
MSCI World Index2 -40.71 29.99 11.76 -5.54 15.83 26.68 4.94 -0.87 7.51 22.40
65% MSCI World Index / 35% ICE BofAML Developed Markets High Yield Ex-Subordinated Financial Index3 -36.03 39.29 12.43 -2.30 16.30 20.04 3.30 -2.48 10.17 17.87
See above note regarding performance calculations. There is no Fund at Market Price performance because the Fund has not completed a calendar year of operations.
 

Fund Facts

Expense Ratio (Gross)5 1.48%
Expense Ratio (Net)5,6 0.90%
Inception 03/30/2016
Distribution Frequency Monthly

Yield Information10 as of Oct 31, 2018

Distribution Rate at NAV 9.72%
Subsidized SEC 30-day Yield 3.34%
Unsubsidized SEC 30-day Yield 1.77%
 

NAV History11

Date NAV NAV Change
Nov 14, 2018 $9.90 -$0.02
Nov 13, 2018 $9.92 $0.00
Nov 12, 2018 $9.92 -$0.13
Nov 09, 2018 $10.05 -$0.06
Nov 08, 2018 $10.11 -$0.03
Nov 07, 2018 $10.14 $0.11
Nov 06, 2018 $10.03 $0.03
Nov 05, 2018 $10.00 $0.01
Nov 02, 2018 $9.99 $0.00
Nov 01, 2018 $9.99 $0.01
 

Distribution History12,13

Ex-Date Distribution
Nov 01, 2018 $0.08080
Oct 01, 2018 $0.08080
Sep 04, 2018 $0.08080
Aug 01, 2018 $0.08080
Jul 02, 2018 $0.08080
Jun 01, 2018 $0.08080
May 01, 2018 $0.08080
Apr 02, 2018 $0.08080
Mar 01, 2018 $0.08080
Feb 01, 2018 $0.08080
View All
No records in this table indicates that there has not been a distribution greater than .0001 within the past 3 years.
Fund prospectus
 

Capital Gain History12,13

Ex-Date Short-Term Long-Term
No records in this table indicates that there has not been a capital gain greater than .0001 within the past 3 years.
Fund prospectus

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding. Fund primarily invests in an affiliated investment company (Portfolio) with the same objective(s) and policies as the Fund and may also invest directly. References to investments are to the aggregate holdings of the Fund and the Portfolio.

†Intraday Indicative Value (IIV)

The IIV is an estimate of the real-time value of the Fund's underlying holdings based on current market prices and should not be viewed as a projection of NAV, which is determined at the end of the day. Because IIVs will generally differ from the end-of-day NAV of the Fund, they cannot be used to calculate with precision the dollar value of a prescribed number of shares to be bought or sold. Investors should understand that share transaction prices are based on closing NAVs, and that NAVs may vary significantly from IIVs during periods of intraday market volatility. Neither the Fund, the Trust nor any of their affiliates are involved in, or responsible for, the calculation or dissemination of IIVs nor make any warranty as to their accuracy. An inaccuracy in an IIV could result from various factors, including difficulty pricing portfolio instruments on an intraday basis. The IIV is disseminated every 15 minutes during normal trading hours and is as of the time noted above. An IIV is not available when the market is closed.

‡Bid and Ask

The bid and ask prices shown are as of the time noted and may not reflect current quotations. The Fund's NAV normally is determined as of 4:00 p.m. each business day.

About Risk: 

The value of investments held by the Fund may increase or decrease in response to economic, and financial events (whether real, expected or perceived) in the U.S. and global markets. The value of equity securities is sensitive to stock market volatility. Changes in the dividend policies of companies could make it difficult to provide a predictable level of income. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical, currency exchange rates or other conditions. Dividend capture strategies may result in higher portfolio turnover, increased trading costs and potential for capital loss or gains. When interest rates rise, the value of preferred stocks will generally decline. Investments rated below investment grade (sometimes referred to as "junk") are typically subject to greater price volatility and illiquidity than higher rated investments. As interest rates rise, the value of certain income investments is likely to decline. No fund is a complete investment program and you may lose money investing in a fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.


Trading & Portfolio

Trade Data14 as of Nov 14, 2018

vs. Prior Business Day Change (%)
Closing Price $9.91 -$0.02 -0.20%
Closing NAV $9.90 -$0.02 -0.20%
Closing Bid/Ask
Midpoint (of bid/ask) NAV+$0.01
Spread (between bid/ask) $0.03
Intraday Price (vs. NAV)
High NAV
Low NAV
Average (Volume-Wtd) NAV
Closing NAV
Trading Volume (Shares)
 

Trading History15 Inception through Nov 14, 2018

 

Historical Premiums/Discounts and Trading Spreads16 Inception through Nov 14, 2018

Premium/Discount Closing
Range Closing Price Vol Wtd Ave Price Closing Bid/Ask Midpoint Bid/Ask Spread
>1.00% 1%
+0.76% to +1.00% 2%
+0.51% to +0.75% 6%
+0.26% to +0.50% 5% 6% 1% 37%
-0.25% to +0.25% 89% 89% 98% 54%
-0.26% to -0.50% 5% 4% 1%
-0.51% to -0.75% 1% 1%
-0.76% to -1.00%
<-1.00%
 

Asset Mix (%)8,9,17,18,19 as of Oct 31, 2018

Portfolio Statistics8 as of Oct 31, 2018

Average Market Cap $168.6B
Price/Earnings Ratio 16.23
Number of Holdings 529
Number of Equity Holdings 108
Price/Book Ratio 2.59
Average Coupon 6.29%
Average Maturity 11.59 yrs.
Average Duration 1.55 yrs.
Average Price $99.27
Active Share20 81.09%
 

GICS Sector Breakdown (%)8,21 as of Oct 31, 2018

Credit Quality (%)8,22 as of Oct 31, 2018

BBB 10.64
BB 40.85
B 41.39
CCC or Lower 5.77
Not Rated 1.34
Total 100.00
Ratings are based on Moody's, S&P or Fitch, as applicable. If securities are rated differently by the ratings agencies, the highest rating is applied. Ratings, which are subject to change, apply to the creditworthiness of the issuers of the underlying securities and not to the Fund or its shares. Credit ratings measure the quality of a bond based on the issuer's creditworthiness, with ratings ranging from AAA, being the highest, to D, being the lowest based on S&P's measures. Ratings of BBB or higher by S&P or Fitch (Baa or higher by Moody's) are considered to be investment-grade quality. Credit ratings are based largely on the ratings agency's analysis at the time of rating. The rating assigned to any particular security is not necessarily a reflection of the issuer's current financial condition and does not necessarily reflect its assessment of the volatility of a security's market value or of the liquidity of an investment in the security. Holdings designated as "Not Rated" are not rated by the national ratings agencies stated above.
 

Maturity Distribution (%)8,22 as of Oct 31, 2018

Less Than 1 Year 0.53
1 To 3 Years 3.64
3 To 5 Years 26.44
5 To 10 Years 56.03
10 To 20 Years 1.71
20 To 30 Years 0.34
More Than 30 Years 11.30
Total 100.00

Assets by Country (%)8,23 as of Oct 31, 2018

United States 61.25
United Kingdom 8.66
Canada 3.78
France 3.48
Japan 3.17
Spain 3.00
Netherlands 2.98
Germany 2.63
Sweden 1.57
Switzerland 1.50
Total 100.00
View All
 

Geographic Mix (%)8,23 as of Oct 31, 2018

North America 65.03
Europe 27.45
Asia/Pacific 5.35
Latin America/Caribbean 0.46
Middle East 0.35
Cash & Other Assets 1.35
Total 100.00
 

Portfolio Holdings8,9,24 as of Sep 30, 2018

Holding % of Net Assets
Alphabet Inc - CL C 2.17%
Amazon.com Inc 1.76%
Microsoft Corp 1.70%
Apple Inc 1.36%
Exxon Mobil Corp 1.15%
Johnson & Johnson 1.06%
Walt Disney Co 1.03%
ASML Holding NV 1.02%
EV Cash Reserves Fund LLC 1.01%
American Tower Corp 1.01%
View All
 

Basket Details25 Nov 15, 2018

Holding Shares
View All

Transaction Fees26,27,28 Nov 15, 2018

No. of Creation Units Fee per Creation Unit (bps)
View All

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding. Fund primarily invests in an affiliated investment company (Portfolio) with the same objective(s) and policies as the Fund and may also invest directly. References to investments are to the aggregate holdings of the Fund and the Portfolio.

†Intraday Indicative Value (IIV)

The IIV is an estimate of the real-time value of the Fund's underlying holdings based on current market prices and should not be viewed as a projection of NAV, which is determined at the end of the day. Because IIVs will generally differ from the end-of-day NAV of the Fund, they cannot be used to calculate with precision the dollar value of a prescribed number of shares to be bought or sold. Investors should understand that share transaction prices are based on closing NAVs, and that NAVs may vary significantly from IIVs during periods of intraday market volatility. Neither the Fund, the Trust nor any of their affiliates are involved in, or responsible for, the calculation or dissemination of IIVs nor make any warranty as to their accuracy. An inaccuracy in an IIV could result from various factors, including difficulty pricing portfolio instruments on an intraday basis. The IIV is disseminated every 15 minutes during normal trading hours and is as of the time noted above. An IIV is not available when the market is closed.

‡Bid and Ask

The bid and ask prices shown are as of the time noted and may not reflect current quotations. The Fund's NAV normally is determined as of 4:00 p.m. each business day.

About Risk: 

The value of investments held by the Fund may increase or decrease in response to economic, and financial events (whether real, expected or perceived) in the U.S. and global markets. The value of equity securities is sensitive to stock market volatility. Changes in the dividend policies of companies could make it difficult to provide a predictable level of income. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical, currency exchange rates or other conditions. Dividend capture strategies may result in higher portfolio turnover, increased trading costs and potential for capital loss or gains. When interest rates rise, the value of preferred stocks will generally decline. Investments rated below investment grade (sometimes referred to as "junk") are typically subject to greater price volatility and illiquidity than higher rated investments. As interest rates rise, the value of certain income investments is likely to decline. No fund is a complete investment program and you may lose money investing in a fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.


Management

Christopher M. Dyer, CFA

Christopher M. Dyer, CFA

Vice President, Director of Global Equity, Eaton Vance Advisers International Ltd.
Joined Eaton Vance 2015

Biography

Christopher Dyer is a vice president of Eaton Vance Advisers International Ltd. and director of global equity. He is responsible for leading the global large-cap equity team, and is a portfolio manager for global and international equity portfolios. He joined Eaton Vance in 2015.

Chris began his career in the financial services industry in 1995. Before joining Eaton Vance, he was managing director and head of European equity for Goldman Sachs Asset Management (GSAM), where he was affiliated since 2001.

Chris earned a B.S., cum laude, from Georgetown University and an MBA from The Wharton School, University of Pennsylvania. He is a CFA charterholder.

Education
  • B.S. Georgetown University
  • M.B.A. The Wharton School, University of Pennsylvania

Experience
  • Managed Fund since inception

 
Michael A. Allison, CFA

Michael A. Allison, CFA

Vice President, Eaton Vance Management
Joined Eaton Vance 2000

Biography

Michael Allison is a vice president of Eaton Vance Management, a director of equity strategy implementation and a structured equity portfolio manager on a number of Eaton Vance’s global and domestic equity income and tax-managed equity portfolios. On those funds, he is responsible for portfolio construction, tax oversight and risk management. He is a member of the firm’s Equity Strategy Committee. He joined Eaton Vance in 2000.

Mike began his career in the investment management industry in 1988. Before joining Eaton Vance, Mike was an equity analyst for Schroder Investment Management North America Inc. He was also affiliated with Fleet Investment Advisors and Phoenix Home Life Mutual Fund Insurance Co.

Mike earned a B.S.B.A. from the University of Denver. He is a member of the CFA Society of Boston and is a CFA charterholder.

Education
  • B.S.B.A., The University of Denver

Experience
  • Managed Fund since inception

 
John H. Croft, CFA

John H. Croft, CFA

Vice President, Eaton Vance Management
Joined Eaton Vance 2004

Biography

John Croft is a vice president of Eaton Vance Management and portfolio manager on several of Eaton Vance’s credit-focused strategies. He is also a team leader on the corporate credit research team within Eaton Vance’s diversified fixed-income group, supporting a wide variety of strategies. He joined Eaton Vance in 2004.

John began his career in the investment management industry in 1986. Before joining Eaton Vance, he was a credit analyst with Fidelity Management & Research Co.

John earned a B.A. from Colgate University and an MBA from the University of Chicago Graduate School of Business. He is a CFA charterholder.

Education
  • B.A. Colgate University
  • M.B.A. Booth School of Business, University of Chicago

Experience
  • Managed Fund since inception

 
Jeffrey D. Mueller

Jeffrey D. Mueller

Vice President, Eaton Vance Advisers International Ltd.
Joined Eaton Vance 2015

Biography

Jeffrey Mueller is a vice president of Eaton Vance Advisers International Ltd. and a portfolio manager on Eaton Vance’s high-yield team. He is responsible for buy and sell decisions, portfolio construction and risk management for the firm’s high-yield and multi-asset credit strategies. He leads investment management and credit research for all non-U.S. high-yield opportunities. He joined Eaton Vance in 2015.

Jeff began his career in the investment management industry in 2004. Before joining Eaton Vance, he was a high-yield portfolio manager with Threadneedle Asset Management. He was previously affiliated with Centaurus Capital Ltd. and Amaranth Advisors LLC.

Jeff earned a B.B.A. from the University of Wisconsin at Madison.

Education
  • B.B.A. University of Wisconsin at Madison

Experience
  • Managed Fund since inception

 

Literature

Literature

NextShares Brochure

Download - Last updated: Oct 21, 2016

Annual Report

Download - Last updated: Oct 31, 2017

Full Prospectus

Download - Last updated: Mar 1, 2018

Holdings-1st or 3rd fiscal quarters-www.sec.gov

Download

Notice

Download - Last updated: Mar 6, 2018

SAI

Download - Last updated: Mar 1, 2018

Semi-Annual Report

Download - Last updated: Apr 30, 2018

Summary Prospectus

Download - Last updated: Mar 1, 2018

XBRL

Download - Last updated: Mar 15, 2018