TDX Independence 2040 ETF (TDV) is one in a series of Independence Lifecycle ETFs that serve as a one-stop solution to target date investing. The Fund seeks investment results, before fees and expenses, of the Zacks 2040 Lifecycle Index, an index of securities from three broad asset classes: international equities, domestic equities, and fixed income securities. TDV is a fully diversified portfolio, managed to the specific year of 2040. The asset mix of each portfolio changes gradually over time. Assets in TDV will be adjusted accordingly as the target date approaches, from a more aggressive allocation, emphasizing greater equity exposure, to a more conservative allocation emphasizing fixed income exposure.
At inception, TDV has an aggressive allocation to risk-based securities, such as domestic and international equities. Balances move automatically down the risk glide path to arrive at a conservative allocation in the year 2040. As an aggressive fund, the initial allocation was approximately 24% in international equities, 73% in domestic equities and 3% in fixed income. Balances then follow a glide path, from an estimated 97% equity exposure to 10% in the year 2040. In the five years after the target date, TDV gradually increases its risk exposure to match that of the Lipper Conservative Funds Index. TDV then replicates the Lipper equity allocation (currently 33%) on a static basis, to perpetuity.
XShares Advisors LLC is the investment advisor for TDV. Bank of New York acts as custodian and transfer agent.
| Market data | |
|---|---|
| Price (11/19/2008)* | $13.60 |
| Change | $-0.32 |
| Volume | 984 |
| NAV History Prem./Disc. Chart | |
| Details | |
|---|---|
| NAV as of 11/19/2008 | $13.55 |
| NAV Change | $-0.76 |
| Shares Outstanding | 1,600,800 |
| Total Cash | $18.04 |
| Estimated Cash | $18.04 |
| Bid as of 11/19/2008 | $12.52 |
| Mid point as of 11/19/2008 | $14.16 |
| Ask as of 11/19/2008 | $15.79 |
| Market Price as of 11/19/2008* | $13.60 |
| Change | $-0.32 |
| Premium/Discount*** | 4.50% |
| Expense ratio as of 11/20/2008 | 0.65% |
| Inception date | 10/01/2007 |
| Ticker symbol | TDV |
| IOPV** ticker symbol | TDVIV |
* Last Sale.
** Indicative Optimized Portfolio Value.
*** Bid/Ask Midpoint versus NAV.
