- ISIN
- US84858T2024
- CUSIP
- 84858T202
- Issuer
- Mcivy Co. LLC
- Inception Date
- Aug 21, 2017
- Region
- North America (U.S.)
- Category
- Corporate Bonds
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Distribution Policy
- Distributing
- Asset Class
- Bond
- Assets Under Management
- $49M
Share Price Chart
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Performance
FFIU Performance Chart
UVA Unconstrained Medium-Term Fixed Income ETF (FFIU) is down 0.4% since the beginning of the year. FFIU is currently trading at $22 per share. Investors who bought $1,000 worth of FFIU shares 5 years ago would now be looking at an investment worth $992.
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Returns By Period
UVA Unconstrained Medium-Term Fixed Income ETF (FFIU) has returned -0.37% so far this year and 4.65% over the past 12 months.
UVA Unconstrained Medium-Term Fixed Income ETF
- 1D
- -0.52%
- 1M
- 1.19%
- YTD
- -0.37%
- 6M
- 0.70%
- 1Y
- 4.65%
- 3Y*
- 4.04%
- 5Y*
- -0.16%
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
FFIU Monthly Returns History
Based on dividend-adjusted daily data since Aug 21, 2017, FFIU's average daily return is +0.01%, while the average monthly return is +0.15%. At this rate, an investment would double in approximately 38.5 years.
Historically, 54% of months were positive and 46% were negative. The best month was Nov 2023 with a return of +6.4%, while the worst month was Apr 2022 at -4.9%. The longest winning streak lasted 8 consecutive months, and the longest losing streak was 6 months.
On a daily basis, FFIU closed higher 48% of trading days. The best single day was Sep 18, 2018 with a return of +4.3%, while the worst single day was Sep 17, 2018 at -4.2%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -0.40% | 1.69% | -1.97% | 0.24% | 0.03% | 0.07% | -0.37% | ||||||
| 2025 | 0.39% | 3.89% | -0.10% | -0.53% | -0.74% | 1.25% | -0.30% | 1.25% | 2.90% | 0.71% | -0.02% | -0.36% | 8.55% |
| 2024 | 0.51% | -2.39% | 1.77% | -3.46% | 2.04% | 1.31% | 2.60% | 0.99% | 1.93% | -2.96% | 0.67% | -2.53% | 0.21% |
| 2023 | 4.64% | -2.64% | 2.05% | 0.25% | -1.10% | 0.13% | 0.46% | -1.06% | -2.52% | -2.37% | 6.40% | 3.41% | 7.42% |
| 2022 | -2.78% | -1.37% | -2.21% | -4.93% | -0.24% | -2.30% | 3.22% | -2.65% | -4.77% | -1.22% | 4.00% | -0.70% | -15.18% |
| 2021 | -0.73% | -1.28% | -1.02% | 1.21% | 0.49% | 1.45% | 1.16% | -0.02% | -1.07% | 0.08% | -0.17% | 0.04% | 0.10% |
Benchmark Metrics
UVA Unconstrained Medium-Term Fixed Income ETF has an annualized alpha of 0.96%, beta of 0.07, and R2 of 0.03 versus S&P 500 Index. Calculated based on daily prices since August 21, 2017.
- This ETF participated in 30.49% of S&P 500 Index downside but only 16.75% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.07 may look defensive, but with R2 of 0.03 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.03 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 0.96%
- Beta
- 0.07
- R²
- 0.03
- Upside Capture
- 16.75%
- Downside Capture
- 30.49%
Expense Ratio
FFIU has an expense ratio of 0.51%, placing it in the medium range.
Return for Risk
Risk / Return Rank
FFIU ranks 18 for risk / return — in the bottom 18% of ETFs on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for UVA Unconstrained Medium-Term Fixed Income ETF (FFIU) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| FFIU | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.46 | ||
| Sortino ratioReturn per unit of downside risk | -1.87 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.37 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | 0.97 | 2.78 | -1.81 |
| Martin ratioReturn relative to average drawdown | 2.06 | 12.44 | -10.38 |
Dividends
Dividend History
UVA Unconstrained Medium-Term Fixed Income ETF provided a 3.99% dividend yield over the last twelve months, with an annual payout of $0.88 per share. The fund has been increasing its distributions for 3 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.88 | $0.87 | $0.87 | $0.84 | $0.69 | $0.84 | $0.73 | $0.74 | $0.63 | $0.16 |
Dividend yield | 3.99% | 3.89% | 4.06% | 3.78% | 3.23% | 3.24% | 2.73% | 2.90% | 2.62% | 0.66% |
Monthly Dividends
The table displays the monthly dividend distributions for UVA Unconstrained Medium-Term Fixed Income ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.23 | $0.00 | $0.00 | $0.00 | $0.23 | ||||||
| 2025 | $0.00 | $0.00 | $0.22 | $0.00 | $0.00 | $0.21 | $0.00 | $0.00 | $0.22 | $0.00 | $0.00 | $0.22 | $0.87 |
| 2024 | $0.00 | $0.00 | $0.23 | $0.00 | $0.00 | $0.21 | $0.00 | $0.00 | $0.21 | $0.00 | $0.00 | $0.22 | $0.87 |
| 2023 | $0.06 | $0.06 | $0.06 | $0.07 | $0.07 | $0.07 | $0.07 | $0.07 | $0.07 | $0.01 | $0.00 | $0.23 | $0.84 |
| 2022 | $0.05 | $0.05 | $0.05 | $0.05 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.07 | $0.69 |
| 2021 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.06 | $0.06 | $0.06 | $0.05 | $0.25 | $0.84 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the UVA Unconstrained Medium-Term Fixed Income ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the UVA Unconstrained Medium-Term Fixed Income ETF was 20.43%, occurring on Oct 21, 2022. The portfolio has not yet recovered.
The current UVA Unconstrained Medium-Term Fixed Income ETF drawdown is 2.78%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Bear market2022 | -20.43%Oct 2022 | 1y 1mo | — | 4y 9moSep 2021 - now |
COVID crash2020 | -11.05%Mar 2020 | 11d | 3mo 1d | 3mo 12dMar 2020 - Jun 2020 |
Rate-hike selloffLate 2018 | -5.47%Sep 2018 | 10mo 13d | 4mo 13d | 1y 2moNov 2017 - Jan 2019 |
2021 pullback2021 | -3.68%Mar 2021 | 2mo 12d | 3mo 14d | 5mo 26dJan 2021 - Jun 2021 |
2020 pullback2020 | -1.83%Oct 2020 | 1mo 29d | 1mo 16d | 3mo 15dAug 2020 - Nov 2020 |
Drawdown Indicators
| FFIU | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.43% | -56.78% | +36.35% |
Max Drawdown (1Y)Largest decline over 1 year | -4.79% | -9.10% | +4.31% |
Max Drawdown (3Y)Largest decline over 3 years | -7.26% | -18.90% | +11.64% |
Max Drawdown (5Y)Largest decline over 5 years | -20.43% | -25.43% | +5.00% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -2.78% | -1.80% | -0.98% |
Average DrawdownAverage peak-to-trough decline | -5.41% | -10.71% | +5.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.26% | 2.03% | +0.23% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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