COWS
Kelly US Cash Flow Dividend Leaders Index
Why Exposure to this Index
The strategy targets US companies with high free cash flow and consistent dividend growth. The Index utilizes a Forward FCF Yield and Trailing FCF Yield ranking system. Free Cash Flow (FCF) Yield measures the amount of cash generated from the core operations of a company relative to its valuation.
INDEX DETAILS
Index Name
Kelly US Cash Flow Dividend Leaders Index
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Ticker
COWSETF
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Forward FCF Yield
11.17%
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Trailing FCF Yield
8.19%
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Trailing 12 Month Dividend Yield
2.21%
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Number of Constituents
56
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Rebalance
Quarterly
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Market Cap
Mid and Large
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Index Calculator
Syntax LLC
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Date
9/30/2023
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Documents
Importance of Forward Free Cash Flow Report
Download
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Index Rulebook
Download
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How to Invest in Free Cash Flow Yield
Download
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Index Overview
The Kelly US Cash Flow Dividend Leaders Index (the “Index”) comprises at least 40 and up to 100 large- to mid-cap publicly traded US companies exhibiting characteristics of high free cash flow and consistent dividend growth. The Index equally weights the constituent stocks that meet the most stringent criteria, and weights any remaining constituents in proportion to their free cash flow yields.
- The Index factors in Forward FCF Yield (defined as estimated forward-year free cash flow per share divided by share price) as part of its screening process.
- The Index’s Universe is drawn from the Syntax US 1000 Index (SY1000). Candidates are identified using Syntax FIS data classifying their issuing entities as outside the Financials Sector.
- First Value Date: 21 September 2007.
- Reconstitution: Quarterly — each March, June, September and December (the “Reconstitution Months”).
- Free cash flow is the cash remaining after a company has paid expenses, interest, taxes, and long-term investments. It can be used to buy back stock, pay dividends, or participate in mergers and acquisitions.
- The ability to generate a high free cash flow yield indicates a company is producing more cash than it needs to run the business and can invest in growth opportunities.
- The Index uses company classification data structured in Syntax’s proprietary Functional Information System (FIS), which draws primarily from audited annual reports (e.g., 10-K filings) and secondarily from unaudited documents (e.g., news articles, company websites) to allow granular groupings and comparisons of companies by the characteristics of their various product lines.
Performance
Past performance is no guarantee of future results. Some of the performance presented herein is backtested performance. Backtested performance is not actual performance, but is hypothetical. The backtest calculations are based on the same methodology that is intended to be used when the index is officially launched. However, back-tested data may reflect the application of the index methodology with the benefit of hindsight, and the historic calculations of an index may change from month to month based on revisions to the underlying economic data used in the calculation of the index. The index methodology and backtested performance is subject to change prior to inception. Charts, graphs, and graphics are provided for illustrative purposes only.
Sector Exposure
Data as of: September 30th, 2023
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