Overview
Inception Date
12.11.2025
Type
Active Fixed Income ETF
CUSIP
85917K470
Primary Exchange
CBOE BZX Exchange, Inc.
| Ticker | Benchmark | Expense Ratio | NAV | Closing Market Price | Premium/Discount | 30-Day Median Bid/Ask Spread |
Fact Sheet |
|---|---|---|---|---|---|---|---|
| SCNM | Bloomberg U.S. Municipal Index | 0.35% | $25.05 | $25.18 | $0.13 | 0.0012% |
The performance data quoted here represents past performance. Current performance may be lower or higher than the performance data quoted above. Past performance is no guarantee of future results. The investment return and principal value of an investment will fluctuate so that investor's shares, when redeemed, may be worth more or less than their original cost. For performance information current to the most recent month-end, please call toll-free 888-637-7798.
30-Day Median Bid-Ask Spread is defined as the average difference between the highest price a buyer is willing to pay and the lowest price the seller is willing to accept, over the past 30 days.
Investment Objective
The Sterling Capital National Municipal Bond ETF is an actively-managed ETF that seeks to generate current income exempt from regular federal income taxes, consistent with preservation of capital. It seeks to achieve this objective by investing primarily in municipal instruments, the interest from which is exempt from regular federal income tax. The ETF typically invests in municipal instruments in a variety of economic sectors.
Philosophy
In managing the Fund’s portfolio, the portfolio management team uses a “top-down” investment management approach focusing on interest rates and credit quality. The team sets, and continually adjusts, a target for the interest rate sensitivity of the ETF's portfolio based on expectations about interest rate movements. The team then selects securities consistent with this target based on their individual characteristics. The portfolio management team may consider selling a security owned by the Fund to reposition the Fund along the yield curve, to adjust the Fund’s average maturity or duration, to replace a security with one that the portfolio manager believes offers greater total return potential, or to exit a security whose credit fundamentals are deteriorating.
Co-Portfolio Manager
Co-Portfolio Manager
Performance
The performance data quoted here represents past performance. Current performance may be lower or higher than the performance data quoted above. Past performance is no guarantee of future results. The investment return and principal value of an investment will fluctuate so that investor's shares, when redeemed, may be worth more or less than their original cost. For performance information current to the most recent month-end, please call toll-free 888-637-7798.
30-Day Median Bid-Ask Spread is defined as the average difference between the highest price a buyer is willing to pay and the lowest price the seller is willing to accept, over the past 30 days.
Historical Premium/Discount
| Term | Cal. Yr. 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 |
|---|---|---|---|---|---|
| Days at premium | 14 | - | - | 14 | 17 |
| Days at discount | - | - | - | - | - |
The Premium/Discount shows the difference between the daily market price of the Fund’s shares and the Fund’s net asset value (“NAV”). Beginning November 2, 2020, market price data will be reflecting the official closing price. Prior to November 2, 2020, market price data is shown as the midpoint price. The midpoint is the average of the bid-ask prices at 4:00 PM ET (when NAV is normally determined for most funds). The table shows the premium or discount of the Mid-Point price as a percentage of the NAV as well as the number of trading days the Fund traded within the given premium/discount range. This data is provided for information purposes only and is not intended for trading purposes. Past performance does not guarantee future results.
| CUSIP | Description | Quantity | Price | Portfolio Weight |
|---|---|---|---|---|
| 84136HBC6 | SEEPWR 5 01/1/2056 | 5,000,000 | $103.70 | 2.90% |
| 88256PAG5 | TMGUTL 5.5 01/1/2054 | 4,750,000 | $106.68 | 2.84% |
| 647207BL2 | NMSPWR 5 06/1/2054 | 4,750,000 | $106.43 | 2.83% |
| 56035DJJ2 | MAIUTL 5 05/1/2055 | 4,600,000 | $107.46 | 2.77% |
| 13013JFW1 | CCEDEV 5 01/1/2056 | 4,265,000 | $109.34 | 2.61% |
| 65830RDA4 | NCSTRN 5 01/1/2058 | 4,540,000 | $101.51 | 2.58% |
| 292723BN2 | ESDPWR 5.25 07/1/2054 | 3,750,000 | $108.33 | 2.28% |
| 84247PND9 | STNPWR 5 04/1/2055 | 3,755,000 | $106.46 | 2.24% |
| 13013JFR2 | CCEDEV 5 02/1/2055 | 3,500,000 | $107.92 | 2.12% |
| 37353PPV5 | GASHSG 4.7 12/1/2055 | 3,810,000 | $98.32 | 2.10% |
| 650116CY0 | NYTTRN 5 10/1/2035 | 3,500,000 | $106.05 | 2.08% |
| 158862CB6 | CHADEV 5 09/1/2052 | 3,500,000 | $102.05 | 2.00% |
| 57584YJU4 | MASDEV 5 07/1/2043 | 3,500,000 | $102.09 | 2.00% |
| 592647PD7 | METAPT 5 10/1/2050 | 3,500,000 | $101.76 | 2.00% |
| 57584XJZ5 | MASDEV 5 07/1/2036 | 3,500,000 | $100.63 | 1.97% |
| 709224QG7 | PA ST TRNPK COM TRNPK REV | 3,500,000 | $100.26 | 1.97% |
| 64972JYA0 | NYCGEN 5 11/1/2033 | 3,000,000 | $116.75 | 1.96% |
| 452227VE8 | ILSGEN 5 06/15/2034 | 3,000,000 | $115.94 | 1.95% |
| 821622QJ9 | SHEEDU 4 08/1/2038 | 3,465,000 | $100.04 | 1.94% |
| 677523NN8 | OHS 5 11/1/2039 | 3,000,000 | $113.78 | 1.91% |
| 914455SB7 | UNVHGR 5 04/1/2048 | 3,330,000 | $102.53 | 1.91% |
| 442349KB1 | HOUAPT 5.25 07/15/2030 | 3,200,000 | $105.81 | 1.90% |
| 452153KV0 | ILS 5 02/1/2036 | 3,000,000 | $112.99 | 1.90% |
| 57421CLS1 | MDSMED 5.25 05/15/2055 | 3,200,000 | $105.02 | 1.88% |
| 96634RAZ5 | WHGFAC 4.2 06/1/2044 | 3,000,000 | $106.11 | 1.78% |
| 837032CT6 | SCSMED 5.25 11/1/2054 | 3,000,000 | $105.44 | 1.77% |
| 64966SHD1 | NYC 5 09/1/2044 | 2,935,000 | $106.42 | 1.75% |
| 115065C44 | BROEDU 5 07/1/2032 | 2,800,000 | $109.77 | 1.72% |
| 575896TG0 | MASTRN 5 07/1/2034 | 2,830,000 | $106.27 | 1.68% |
| 64988YF44 | NYSHSG 4.65 10/1/2050 | 2,965,000 | $98.94 | 1.64% |
| 59261A5Z6 | MTATRN 5 11/15/2034 | 2,400,000 | $117.29 | 1.58% |
| 850001CN6 | SPGSCD 5.25 08/15/2055 | 2,620,000 | $106.03 | 1.56% |
| 88283KBZ0 | TXSTRN 5 08/15/2034 | 2,360,000 | $116.62 | 1.54% |
| 04780MX95 | ATLAPT 5.25 07/1/2054 | 2,630,000 | $103.25 | 1.52% |
| 88256RAK2 | TXSUTL 5 01/1/2055 | 2,500,000 | $107.99 | 1.51% |
| 46613P3W4 | JACUTL 4 10/1/2039 | 2,500,000 | $100.17 | 1.40% |
| 64577B5G5 | NJSDEV 5 06/15/2048 | 2,430,000 | $101.96 | 1.39% |
| 23503CFV4 | DALAPT 5 11/1/2034 | 2,100,000 | $114.33 | 1.35% |
| 31423R500 | FEDERATED HERMES MM TREAS | 2,417,036 | $100.00 | 1.35% |
| 7353892S6 | PTSGEN 5.25 07/1/2049 | 2,250,000 | $103.76 | 1.31% |
| 19648FWR1 | COSMED 5 11/1/2041 | 2,150,000 | $107.58 | 1.30% |
| 73358XJR4 | PORTRN 5 07/15/2053 | 2,235,000 | $103.91 | 1.30% |
| 472682ZS5 | JEFUTL 5.5 10/1/2053 | 2,100,000 | $104.23 | 1.23% |
| 882750R95 | TXSSFH 3.65 01/1/2037 | 2,120,000 | $99.79 | 1.19% |
| 249182SR8 | DENAPT 5.25 11/15/2053 | 2,000,000 | $104.42 | 1.17% |
| 79467BEW1 | STSGEN 5 01/1/2033 | 1,925,000 | $107.50 | 1.16% |
| 882724RX7 | TXS 4 08/1/2033 | 2,000,000 | $103.73 | 1.16% |
| 42605XAB4 | HENMED 5 11/1/2048 | 1,990,000 | $103.46 | 1.15% |
| 5444456H7 | LOSAPT 5 05/15/2048 | 1,905,000 | $107.18 | 1.14% |
| 593340AD4 | MIATRN 5.25 10/1/2055 | 1,825,000 | $104.77 | 1.07% |
| 249182QH2 | DENAPT 5 11/15/2032 | 1,600,000 | $112.73 | 1.01% |
| 64613AJN3 | NJSHSG 4.7 10/1/2050 | 1,785,000 | $100.32 | 1.00% |
| 64972KJH9 | NYCHSG 4.8 11/1/2055 | 1,795,000 | $99.29 | 1.00% |
| 1675934T6 | CHITRN 5.5 01/1/2059 | 1,655,000 | $103.44 | 0.96% |
| 79766DWK1 | SFOAPT 5 05/1/2032 | 1,490,000 | $112.60 | 0.94% |
| 15569DAA0 | CTVPWR 5 12/1/2055 | 1,515,000 | $107.67 | 0.91% |
| 80136PCP6 | SBBCTF 5 12/1/2030 | 1,500,000 | $106.20 | 0.89% |
| 650116DT0 | NYTTRN 4 12/1/2038 | 1,500,000 | $99.78 | 0.84% |
| 54714CBV8 | LFLTRN 5 11/1/2029 | 1,270,000 | $107.65 | 0.77% |
| 432308X25 | HILTRN 5.5 10/1/2054 | 1,180,000 | $105.44 | 0.70% |
| 84136HCT8 | SEEPWR 5 10/1/2030 | 1,000,000 | $108.30 | 0.61% |
| 631163BQ4 | NASMED 5.25 02/1/2055 | 1,000,000 | $102.48 | 0.57% |
| 709224VC0 | PASTRN 5.5 12/1/2046 | 1,000,000 | $101.36 | 0.57% |
| RECPAY | Receivables/Payables | -250,598 | $1.00 | -0.14% |
Holding data is provided “as of” the date indicated. Holdings are subject to change without notice. Holdings are provided for informational purposes only and should be not be considered a recommendation to buy or sell the securities listed.
National Municipal Bond ETF
Materials
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