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ETFs

Madison Short-Term Strategic Income ETF

MSTI
$--
Today’s Change
-- (--)

Snapshot
*

Inception Date
Sep 05 2023
Expense Ratio
0.40%
Type
US Bonds
Fund Owner
Madison Funds
Volume (1m avg. daily)
—
AUM
$34,389,082
Associated Index
None
Inverse/Leveraged
No
Passive/Active
Active
Fractionable on Composer
No
Prospectus
View

Top 10 Holdings

DFS27
Discover Financial Services - 4.10% NT REDEEM 09/02/2027 USD 2000
2.23%
n/a
UNITED STATES TREAS NTS 4.625% 02/28/2025
2.22%
BAC26C
Bank Of America Corp. - 3.50% NT REDEEM 19/04/2026 USD 2000
2.21%
NFLX4908613
NETFLIX INC. 6.375% 05/15/2029
2.18%
n/a
FHLMC REMIC SERIES K-066 3.117% 06/25/2027
2.17%
S26
Sprint 7.625 % Notes 2018-01.03.26 Gtd Global
2.07%
JPM4656689
JP MORGAN CHASE BANK NA 4.203% 07/23/2029
2.05%
HCA26
HCA Inc. - 5.875% NT REDEEM 15/02/2026 USD 2000
2.00%
GS5463656
Goldman Sachs Group Inc/The 4.482% 08/23/2028
2.00%
MTN4983003
VAIL RESORTS INC 6.25% 05/15/2025
1.97%
Invest with MSTI

What is MSTI?

The Short Term Strategic Income ETF seeks to generate a high level of current income with diversified exposure to fixed income sectors. Under normal market conditions, the Fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in bonds. To keep current income relatively stable and to limit share price volatility, the Fund emphasizes investment grade securities and maintains a short (typically 3.5 years or less) average portfolio duration, with the goal of being between 75-125% of the market benchmark duration (for this purpose, the benchmark used is Bloomberg US Government/Credit Float Adjusted 1-5 Year Index, the duration of which as of June 30, 2023 was 2.62 years). The maximum average duration of any individual portfolio security will be 8 years.

ETFs related toMSTI

ETFs correlated to MSTI include IBDY, IBDV, IBDX

MSTI
Madison ETFs Trust - Madison Short Term Strategic Income ETF
IBDY
iShares Trust - iShares iBonds Dec 2033 Term Corporate ETF
IBDV
iShares Trust - iShares iBonds Dec 2030 Term Corporate ETF
IBDX
iShares Trust - iShares iBonds Dec 2032 Term Corporate ETF
JPMB
J.P. Morgan Exchange-Traded Fund Trust - JPMorgan USD Emerging Markets Sovereign Bond ETF
GBF
BlackRock Institutional Trust Company N.A. - iShares Barclays Government/Credit Bond Fund
PHB
Invesco Capital Management LLC - Invesco Fundamental High Yield Corporate Bond ETF
PCY
Invesco Capital Management LLC - Invesco Emerging Markets Sovereign Debt ETF
DYLD
Two Roads Shared Trust - LeaderShares Dynamic Yield ETF
IGIB
BlackRock Institutional Trust Company N.A. - iShares Trust iShares 5-10 Year Investment Grade Corporate Bond ETF
IBDW
iShares Trust - iShares iBonds Dec 2031 Term Corporate ETF

What is ETF correlation?

Correlation is a measure of the strength of the relationship between two ETFs. It quantifies the degree to which prices of the two ETFs typically move together.

Here, correlation is measured over the past year with the Pearson correlation coefficient (Pearon’s r), which ranges from -1 to 1.

Using ETF correlations in portfolio and strategy construction

ETF correlations can help you create investing strategies and portfolios. Use them to:

  • •Build a diversified portfolio from uncorrelated or inversely correlated ETFs with the aim of minimizing portfolio risk.
  • •Compare correlated or related ETFs to find one with a lower expense ratio or higher trading volume.
  • •Create an investing strategy that hedges an ETF with an uncorrelated or inversely correlated ETF.

Automated Strategies
Related toMSTI

#BTD

Buy the Dips: Nasdaq 100

Category

Featured, Technology Focus

Risk Rating

Aggressive

#SPYMIN

SPY minimum drawdown

Category

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Risk Rating

Aggressive

Create your own algorithmic trading strategy with MSTI using Composer

FAQ

MSTI is a US Bonds ETF. The Short Term Strategic Income ETF seeks to generate a high level of current income with diversified exposure to fixed income sectors. Under normal market conditions, the Fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in bonds. To keep current income relatively stable and to limit share price volatility, the Fund emphasizes investment grade securities and maintains a short (typically 3.5 years or less) average portfolio duration, with the goal of being between 75-125% of the market benchmark duration (for this purpose, the benchmark used is Bloomberg US Government/Credit Float Adjusted 1-5 Year Index, the duration of which as of June 30, 2023 was 2.62 years). The maximum average duration of any individual portfolio security will be 8 years.

Yes, MSTI is actively managed. In an actively managed fund, the fund manager makes decisions about how funds are invested. A passively managed fund typically tries to track or follow a market index.

No, MSTI is not passively managed. It is actively managed. A passively managed fund typically tries to track or follow a market index. In an actively managed fund, the fund manager makes decisions about how funds are invested.

The 1-month return on MSTI is %. This is the percent change in the value of MSTI over the most recent 1-month period. The 3-month return on MSTI is %. This is the percent change in the value of MSTI over the most recent 3-month period.

ETFs similar to MSTI include GVI, BLV, and BSV.

ETFs correlated to MSTI include IBDY, IBDV, and IBDX.

ETFs that are inversely correlated to MSTI include PST, TBX, and SJB.

Disclaimers

*

We show information directly obtained from our data provider, Xignite. Data shown here is provided by Xignite, an unaffiliated third party. Composer believes the information shown here is reliable, but has not been verified and there is no guarantee that the information is accurate.

**

We show information based on calculations performed by Composer using data from our provider. Information provided here is based on calculations performed by Composer using data sourced from Xignite, an unaffiliated third party. Composer believes this information is reliable, but has not verified the data and there is no guarantee that the calculations are accurate.