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Would anyone comment on the etf DIVY? This is a great owl alternative fund that I can find very little info about apart from the issuer's marketing material. The etf has done its job since it started in 2015 but not received very much investor interest. Is there a liquidity risk when trading at these volumes? Any thoughts on the viability of this ETF would be appreciated!
Fund Summary The investment seeks to produce long-term capital appreciation. The fund's principal investment strategy is designed to provide exposure to the aggregate value of ordinary dividends expected to be paid on a portfolio of large capitalization equity securities listed for trading in the U.S. ("Large Cap Securities"). The fund may use a variety of investment strategies to achieve this objective. Under normal circumstances, it generally invests in a combination of dividend swaps, dividend futures and forwards on indexes of Large Cap Securities ("Large Cap Securities Indexes"). The fund is non-diversified.
Comments
The investment seeks to produce long-term capital appreciation. The fund's principal investment strategy is designed to provide exposure to the aggregate value of ordinary dividends expected to be paid on a portfolio of large capitalization equity securities listed for trading in the U.S. ("Large Cap Securities"). The fund may use a variety of investment strategies to achieve this objective. Under normal circumstances, it generally invests in a combination of dividend swaps, dividend futures and forwards on indexes of Large Cap Securities ("Large Cap Securities Indexes"). The fund is non-diversified.
A little more color can be found here: http://www.etf.com/DIVY
To my severely untrained eyes it looks like a fund that bets on dividend increases.