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BFIX

Build Bond Innovation ETF

NAV:
$24.52
Market Price:
$24.46
NAV Change:
$0.05 / 0.19%
Market Price Change:
-$0.02 / -0.08%
as of 2024-10-29

Fund Objective

The Build Bond Innovation ETF is an actively-managed bond fund that seeks risk mitigation and growth via a mix of fixed income and equity options. The ETF typically has 90% to 95% of its holdings in investment grade bonds, with the remaining assets seeking upside by using a long only options overlay. The fund is designed to be used as a core bond complement. It seeks to outperform the Bloomberg US Aggregate Bond Index over a full market cycle without taking on excess risk.

Growth of $10,000

BFIX portfolio construction

Data since Fund inception. Fund performance shown at NAV. Indexes are unmanaged, do not incur management fees, costs, and expenses and cannot be invested in directly.

How to use BFIX

Core Bond Allocation

  • Use to complement or replace a core fixed income or investment grade credit exposure
  • BFIX seeks to provide higher total returns for a similar risk profile to the benchmark, without reaching for yield or taking long duration risk

Risk Mitigation

  • Use to seek lower downside risk, while retaining attractive upside and downside capture profile
  • May increase credit quality and reduce volatility for a high yield bond allocation

Portfolio Diversification

  • With its unique structure, BFIX may have lower correlations to traditional equity and fixed income exposures, offering diversification benefits to a multi-asset class portfolio

Fund Overview

as of 2024-10-28
Ticker Symbol:BFIX
Gross Expense Ratio:0.50%
NAV:$24.52
NAV Change:$0.05 / 0.19%
Market Price:$24.46
Market Price Change:-$0.02 / -0.08%
CUSIP:12009B101
Total Assets:$7,967,526.46
Shares Outstanding:325000
Inception Date:2022-02-09
Premium Discount:-0.23%
30 Day Median Bid Ask Spread:0.58%

Monthly Fund Performance

as of 2024-09-30
Cumulative
 1mo3mo6mo1yrSince Inception
NAV2.04%5.23%6.26%12.89%6.09%
Market Price2.00%5.22%6.22%12.91%6.14%
Bloomberg US Agg Total Return1.34%5.20%5.26%11.57%-0.92%
Annualized
 1yr3yr5yrSince Inception
NAV12.89%--2.26%
Market Price12.91%--2.29%

Quarterly Fund Performance

as of 2024-09-30
Cumulative
 1mo3mo6mo1yrSince Inception
NAV2.04%5.23%6.26%12.89%6.09%
Market Price2.00%5.22%6.22%12.91%6.14%
Bloomberg US Agg Total Return1.34%5.20%5.26%11.57%-0.92%
Annualized
 1yr3yr5yrSince Inception
NAV12.89%--2.26%
Market Price12.91%--2.29%

NAV, or Net Asset Value: 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. Market Price: The current price at which shares are bought and sold. Market returns are based upon the last trade price.

Distribution Information

Distribution Information
Distribution Frequency: Monthly
30 Day SEC Yield: 4.25
Ex-Div DateRecord DatePayable DateAmount ($)Amount (%)
2024-09-272024-09-272024-09-30$0.084972300.3510%
2024-08-292024-08-292024-08-30$0.086706090.3645%
2024-07-302024-07-302024-07-31$0.097233010.4161%
2024-06-272024-06-272024-06-28$0.077748430.3343%
2024-05-302024-05-302024-05-31$0.089794240.3909%
2024-04-262024-04-292024-04-30$0.092732430.4027%
2024-03-262024-03-272024-03-28$0.084270770.3642%
2024-02-272024-02-282024-02-29$0.123560030.5398%
2024-01-292024-01-302024-01-31$0.062704860.2732%
2023-12-272023-12-282023-12-29$0.229150000.8264%
2023-12-272023-12-282023-12-29$0.088522670.3844%
2023-11-282023-11-292023-11-30$0.080384700.3554%
2023-10-272023-10-302023-10-31$0.094225830.4203%
2023-09-272023-09-282023-09-29$0.056016800.2500%
2023-08-292023-08-302023-08-31$0.091788360.4036%
2023-07-272023-07-282023-07-31$0.074722150.3269%
2023-06-282023-06-292023-06-30$0.076714410.3363%
2023-05-262023-05-302023-05-31$0.085145740.3753%
2023-04-262023-04-272023-04-28$0.072559940.3171%
2023-03-292023-03-302023-03-31$0.082534650.3612%
2023-02-242023-02-272023-02-28$0.045613660.2011%
2023-01-272023-01-302023-01-31$0.138736770.6061%
2022-12-232022-12-272022-12-30$0.069908370.3061%
2022-11-282022-11-292022-11-30$0.077632800.3393%
2022-10-272022-10-282022-10-31$0.054888820.2405%
2022-09-282022-09-292022-09-30$0.054308320.2374%
2022-08-292022-08-302022-08-31$0.042103090.1812%
2022-07-272022-07-282022-07-29$0.013043440.0557%
2022-06-282022-06-292022-06-30$0.015177400.0650%
2022-05-262022-05-272022-05-31$0.013593440.0569%
2022-04-272022-04-282022-04-29$0.010711580.0448%
2022-03-292022-03-302022-03-31$0.009786970.0400%

Portfolio Holdings

as of 2024-10-29

Download Holdings

TickerCUSIPNameMarket ValueWeight
91282CFX491282CFX4United States Treasury Note/Bond 4.5% 11/30/2024$324,905.394.08%
9128283J79128283J7United States Treasury Note/Bond 2.125% 11/30/2024$324,246.474.07%
91282CDZ191282CDZ1United States Treasury Note/Bond 1.5% 02/15/2025$297,240.533.73%
91282CHV691282CHV6United States Treasury Note/Bond 5% 08/31/2025$261,237.463.28%
67077MAZ167077MAZ1Nutrien Ltd 5.9% 11/07/2024$251,000.223.15%
91282CDH191282CDH1United States Treasury Note/Bond 0.75% 11/15/2024$224,584.472.82%
822582CC4822582CC4Shell International Finance BV 2% 11/07/2024$206,829.892.60%
912828ZT0912828ZT0United States Treasury Note/Bond 0.25% 05/31/2025$195,132.302.45%
025816CQ0025816CQ0American Express Co 2.25% 03/04/2025$186,325.082.34%
05348EAU305348EAU3AvalonBay Communities Inc 3.5% 11/15/2024$176,834.702.22%
14913Q3B314913Q3B3Caterpillar Financial Services Corp 2.15% 11/08/2024$172,861.482.17%
38141GXJ838141GXJ8Goldman Sachs Group Inc/The 3.5% 04/01/2025$173,073.912.17%
06406RAN706406RAN7Bank of New York Mellon Corp/The 1.6% 04/24/2025$166,552.812.09%
00724FAC500724FAC5Adobe Inc 3.25% 02/01/2025$166,272.542.09%
666807BM3666807BM3Northrop Grumman Corp 2.93% 01/15/2025$159,297.462.00%
912810SN9912810SN9United States Treasury Note/Bond 1.25% 05/15/2050$144,269.341.81%
30231GBH430231GBH4Exxon Mobil Corp 2.992% 03/19/2025$143,985.341.81%
438516CH7438516CH7Honeywell International Inc 4.85% 11/01/2024$134,976.261.69%
512807AN8512807AN8Lam Research Corp 3.8% 03/15/2025$131,512.931.65%
571903AW3571903AW3Marriott International Inc/MD 3.75% 03/15/2025$124,391.881.56%
718172BM0718172BM0Philip Morris International Inc 3.25% 11/10/2024$119,886.381.51%
00287YBZ100287YBZ1AbbVie Inc 2.6% 11/21/2024$113,811.841.43%
053332AY8053332AY8AutoZone Inc 3.625% 04/15/2025$114,275.331.43%
718546AV6718546AV6Phillips 66 3.85% 04/09/2025$113,473.411.42%
58933YAR658933YAR6Merck & Co Inc 2.75% 02/10/2025$106,420.211.34%
189754AA2189754AA2Tapestry Inc 4.25% 04/01/2025$104,415.771.31%
29273RBD029273RBD0Energy Transfer LP 4.05% 03/15/2025$103,622.451.30%
11134LAP411134LAP4Broadcom Corp / Broadcom Cayman Finance Ltd 3.125% 01/15/2025$101,546.761.27%
91282CGU991282CGU9United States Treasury Note/Bond 3.875% 03/31/2025$99,743.911.25%
68389XBS368389XBS3Oracle Corp 2.95% 11/15/2024$98,888.201.24%
031162DM9031162DM9Amgen Inc 5.25% 03/02/2025$92,084.201.16%
674599EB7674599EB7Occidental Petroleum Corp 5.875% 09/01/2025$92,428.631.16%
GLD 241220C00225000GLD 241220C00225000GLD US 12/20/24 C225$90,225.001.13%
20826FAU020826FAU0ConocoPhillips Co 2.4% 03/07/2025$86,226.031.08%
053332AR3053332AR3AutoZone Inc 3.25% 04/15/2025$84,332.791.06%
458140BP4458140BP4Intel Corp 3.4% 03/25/2025$83,412.501.05%
05348EAV105348EAV1AvalonBay Communities Inc 3.45% 06/01/2025$80,401.851.01%
745310AH5745310AH5Puget Energy Inc 3.65% 05/15/2025$79,288.391.00%
70450YAG870450YAG8PayPal Holdings Inc 1.65% 06/01/2025$74,614.970.94%
64110LAL064110LAL0Netflix Inc 5.875% 02/15/2025$74,222.910.93%
03076CAK203076CAK2Ameriprise Financial Inc 3% 04/02/2025$73,424.440.92%
375558AZ6375558AZ6Gilead Sciences Inc 3.5% 02/01/2025$69,733.550.88%
29379VBE229379VBE2Enterprise Products Operating LLC 3.75% 02/15/2025$69,734.200.88%
SPY 241220C00525000SPY 241220C00525000SPY US 12/20/24 C525$69,432.000.87%
29717PAP229717PAP2Essex Portfolio LP 3.5% 04/01/2025$69,589.830.87%
023135AN6023135AN6Amazon.com Inc 3.8% 12/05/2024$66,924.600.84%
023135CM6023135CM6Amazon.com Inc 4.7% 11/29/2024$63,979.540.80%
032095AK7032095AK7Amphenol Corp 2.05% 03/01/2025$63,330.210.80%
615369AS4615369AS4Moody's Corp 3.75% 03/24/2025$63,697.860.80%
GLD 250620C00245000GLD 250620C00245000GLD US 06/20/25 C245$62,700.000.79%
Cash&OtherCash&OtherCash & Other$58,953.920.74%
718547AD4718547AD4Phillips 66 Co 3.605% 02/15/2025$58,715.900.74%
45866FAT145866FAT1Intercontinental Exchange Inc 3.65% 05/23/2025$55,598.280.70%
26875PAM326875PAM3EOG Resources Inc 3.15% 04/01/2025$50,645.270.64%
3130AXMP03130AXMP0Federal Home Loan Banks 5.375% 10/30/2024$50,000.680.63%
63111XAG663111XAG6Nasdaq Inc 5.65% 06/28/2025$50,243.830.63%
494368BQ5494368BQ5Kimberly-Clark Corp 2.65% 03/01/2025$49,606.230.62%
SPY 250321C00550000SPY 250321C00550000SPY US 03/21/25 C550$45,864.000.58%
482480AE0482480AE0KLA Corp 4.65% 11/01/2024$44,991.940.56%
MSTR 241220C00200000MSTR 241220C00200000MSTR US 12/20/24 C200$43,800.000.55%
858119BL3858119BL3Steel Dynamics Inc 2.4% 06/15/2025$43,316.420.54%
87264ABB087264ABB0T-Mobile USA Inc 3.5% 04/15/2025$41,706.970.52%
91282CJE291282CJE2United States Treasury Note/Bond 5% 10/31/2025$40,263.910.51%
49456BAF849456BAF8Kinder Morgan Inc 4.3% 06/01/2025$37,849.750.48%
446413AS5446413AS5Huntington Ingalls Industries Inc 3.844% 05/01/2025$36,766.950.46%
58013MEU458013MEU4McDonald's Corp 3.375% 05/26/2025$35,717.950.45%
369550AY4369550AY4General Dynamics Corp 2.375% 11/15/2024$34,954.810.44%
68389XBT168389XBT1Oracle Corp 2.5% 04/01/2025$33,654.670.42%
68389XBC868389XBC8Oracle Corp 2.95% 05/15/2025$30,671.860.39%
55336VAA855336VAA8MPLX LP 4% 02/15/2025$29,877.170.38%
002824BB5002824BB5Abbott Laboratories 2.95% 03/15/2025$27,816.630.35%
20826FAG120826FAG1ConocoPhillips Co 3.35% 05/15/2025$26,722.980.34%
025816CY3025816CY3American Express Co 3.95% 08/01/2025$26,863.450.34%
911312BL9911312BL9United Parcel Service Inc 2.8% 11/15/2024$25,970.940.33%
00817YAQ100817YAQ1Aetna Inc 3.5% 11/15/2024$24,976.940.31%
755111BY6755111BY6Raytheon Co 3.15% 12/15/2024$24,915.520.31%
38141GZV938141GZV9Goldman Sachs Group Inc/The 5.7% 11/01/2024$23,997.510.30%
LQD 241220C00109000LQD 241220C00109000LQD US 12/20/24 C109$21,170.000.27%
89236TGT689236TGT6Toyota Motor Credit Corp 1.8% 02/13/2025$21,804.560.27%
741503AW6741503AW6Booking Holdings Inc 3.65% 03/15/2025$20,914.980.26%
244199BH7244199BH7Deere & Co 2.75% 04/15/2025$19,833.640.25%
404119BQ1404119BQ1HCA Inc 5.25% 04/15/2025$18,002.930.23%
278642AV5278642AV5eBay Inc 1.9% 03/11/2025$17,795.230.22%
91282CDJ791282CDJ7United States Treasury Note/Bond 1.375% 11/15/2031$16,578.520.21%
QQQ 241220C00480000QQQ 241220C00480000QQQ US 12/20/24 C480$16,962.000.21%
283695BE3283695BE3El Paso Natural Gas Co LLC 7.5% 11/15/2026$15,761.340.20%
58013MFN958013MFN9McDonald's Corp 3.3% 07/01/2025$15,862.020.20%
125523AV2125523AV2Cigna Group/The 3.25% 04/15/2025$14,903.170.19%
24422EVY224422EVY2John Deere Capital Corp 1.25% 01/10/2025$14,892.250.19%
59156RBM959156RBM9MetLife Inc 3% 03/01/2025$14,905.630.19%
654106AH6654106AH6NIKE Inc 2.4% 03/27/2025$14,857.180.19%
NVDA 241220C00130000NVDA 241220C00130000NVDA US 12/20/24 C130$14,512.000.18%
74251VAK874251VAK8Principal Financial Group Inc 3.4% 05/15/2025$12,897.570.16%
84265VAH884265VAH8Southern Copper Corp 3.875% 04/23/2025$12,902.910.16%
29278NAP829278NAP8Energy Transfer LP 2.9% 05/15/2025$10,858.920.14%
723787AT4723787AT4Pioneer Natural Resources Co 1.125% 01/15/2026$11,530.960.14%
FGXXX31846V336First American Government Obligations Fund 12/01/2031$10,103.650.13%
858119BJ8858119BJ8Steel Dynamics Inc 2.8% 12/15/2024$9,968.320.13%
037833AZ3037833AZ3Apple Inc 2.5% 02/09/2025$9,931.640.12%
SLV 241220C00031000SLV 241220C00031000SLV US 12/20/24 C31$7,560.000.09%
30231GAF930231GAF9Exxon Mobil Corp 2.709% 03/06/2025$5,957.860.07%
34964CAA434964CAA4Fortune Brands Innovations Inc 4% 06/15/2025$4,969.540.06%
571903BD4571903BD4Marriott International Inc/MD 5.75% 05/01/2025$4,011.950.05%

Portfolio holdings and allocations are subject to change and should not be considered investment advice or a recommendation to buy, sell or hold any particular security.

How to Buy

BFIX Availability for Individuals and Advisors

Individual Brokerage Accounts

Individual investors may be able to purchase shares of BFIX on the popular brokerage platforms listed below. Please log into your brokerage account and search for the ticker symbol BFIX to check availability. If BFIX is not available, please reach out to your brokerage for more information. You may also call us at (833) 852-8453.

Financial Advisor Platforms

Financial advisors may be able to purchase shares of BFIX on their platforms. Please check with your platform provider or call us at (833) 852-8453 if you require assistance.

 

 

DEFINITIONS OF TERMS:

Investment Grade Fixed Income – To be considered an investment grade issue, the company must be rated at ‘BBB’ or higher by Standard and Poor’s or Moody’s. Anything below this ‘BBB’ rating is considered non-investment grade.

30-Day SEC Yield – Yield calculation that reflects the dividends and interest earned during the period after the deduction of the fund’s expenses. It is also referred to as the “standardized yield.”

Call Option – A call is an option contract giving the owner the right, but not the obligation, to buy a specified amount of an underlying security at a specified price within a specified time.

Put Option – Put options give holders of the option the right, but not the obligation, to sell a specified amount of an underlying security at a specified price within a specified time frame.

Weighted Average Maturity – Weighted average maturity is a measure of the overall maturity of the debt securities in a portfolio.

Duration – Duration is a measure of the sensitivity of the price of a bond or other debt instrument to a change in interest rates. Duration can measure how long it takes, in years, for an investor to be repaid the bond’s price by the bond’s total cash flows. Duration can also measure the sensitivity of a bond’s or fixed income portfolio’s price to changes in interest rates. In general, the higher the duration, the more a bond’s price will drop as interest rates rise (and the greater the interest rate risk). For example, if rates were to rise 1%, a bond or bond fund with a five-year average duration would likely lose approximately 5% of its value.

Option-Adjusted Duration – A measure of fixed income duration that accounts for the effect of a call option on the expected life of a bond.

BFIX News & Insights

Four Macro Trends Every Advisor Needs to Know

Four Macro Trends Every Advisor Needs to Know

In the past three years, financial markets have faced unprecedented challenges ranging from the worst pandemic in 100 years, the biggest armed conflict in Europe since World War II, the largest drawdown in bonds ever, and highest inflation in more than 40 years. The resultant market volatility has left many financial advisors unsure of what to do next, but savvy advisors know there are throughlines in the narrative. These are the four key macro trends we believe every advisor needs to be watching to drive their clients’ success.