The combination of a middling Process Pillar rating and a Below Average People Pillar rating limit  Academy Veteran Impact ETF to a Morningstar Medalist Rating of Neutral.  The portfolio maintains a cost advantage over competitors, priced within the second-cheapest fee quintile among peers.  

 The strategy's inexperienced portfolio management team drives the strategy's Below Average People Pillar. The fund's assessment results in an Average Process Pillar rating. The strategy's parent organization doesn't stand out, earning the firm an Average Parent Pillar rating. It has displayed a handful of investor-friendly attributes including low portfolio manager turnover but is held back by relatively short-tenured portfolio managers.

Analyst Rating

Morningstar's evaluation of this fund's process seeks to understand management's investment philosophy, and whether it has been applied consistently over time and can add value across the market cycle. Academy Veteran Impact ETF earns an Average Process Pillar rating.    The primary contributor to the rating is the firm's five-year retention rate of 100% over the period. Low expenses across its parent firm's funds, whose fees, on average, rank in the cheapest quintile of their respective category, also contribute to the process. The pattern of low fees at the firm suggests that it is focused on delivering strong results for investors. Lastly, the process is limited by the experience of the management team, which averages four years at this fund.

 The investment strategy as stated in the fund's prospectus is as follows: 


The investment seeks to generate current income.  The fund will primarily invest in MBS that are issued and/or guaranteed by government-sponsored enterprises (each a “GSE”), such as the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae), and the Federal Home Loan Mortgage Corporation (Freddie Mac). The fund will invest only in securities that are rated investment grade (that is, securities rated Baa3/BBB- or higher), or if unrated, and determined to be of comparable credit quality by the Sub-Adviser.

Average

Process

Academy Veteran Impact ETF earns a Below Average People Pillar rating. The team benefits from the firm's five-year retention rate of 100%. However, the rating is held back by the experience of the management team, which averages four years at this fund. The number of months that the management team has been running this vehicle together also holds the rating back. Since this is a newly incepted product, more time is needed to monitor the team's capability at executing the strategy.


John Gilmore brings seven years of listed portfolio management experience to the team.  The team is small and inadequately equipped, with only one other listed manager supporting it. Together, the two average four years of listed portfolio management experience.

Below Average

People

A short track record, in this case only seven months, is usually cause for caution when evaluating asset managers. However, Academy Asset Management has displayed qualities that suggest it can be trusted as much as the next asset manager, earning it an Average Parent Pillar rating. The firm currently manages one vehicle, with a total of $52.2 million under management across a bench of two strategy managers. The management team at Academy Asset Management is unproven. Because the team members average just over four years in the industry, there's reason to be cautious until they grow more seasoned. The firm's earliest portfolio manager hire, John Gilmore, has seven years of industry experience. 
 
   

 As Academy Asset Management builds and continues to develop a track record, its rating will be adjusted accordingly.

Parent

Academy Veteran Impact Etf

VETZ uses an active, bottom-up approach to invest in USD-denominated, investment grade, mortgage-backed securities issued to US service members, military veterans, their survivors, or veteran-owned businesses.

NEW YORK--(BUSINESS WIRE)--Academy Asset Management, an SEC registered investment adviser, certified Disabled Veteran Business Enterprise (DVBE), and Service Disabled Veteran Owned Business (SDVOB), is pleased to celebrate the founding cohort of corporate investors in the Academy Veteran Impact ETF (NYSE Arca: VETZ). In honor of the Veterans Day holiday, the leadership of Academy Asset Management will join representatives from these corporations in ringing the closing bell at the New York Stock.

Academy Asset Management to Celebrate the VETZ ETF and Veterans Day at the New York Stock Exchange

NEW YORK--(BUSINESS WIRE)--Academy Asset Management, a SEC registered investment adviser, certified Disabled Veteran Business Enterprise (DVBE), and Service Disabled Veteran Owned Business (SDVOB), announced the launch of the Academy Veteran Impact ETF (NYSE: VETZ), the first publicly traded ETF to primarily invest in loans to U.S. service members, military veterans, their survivors, and veteran-owned businesses. At least 80% of the underlying assets will consist of loans to veterans or their f.

Academy Asset Management Launches the Academy Veteran Impact ETF (NYSE: VETZ)

Disabled veteran-owned and operated manager Academy Asset Management on Wednesday launched its debut ETF on the New York Stock Exchange. The Academy Veteran Impact ETF (VETZ) targets loans to U.S. service members, military veterans, their survivors, and veteran-owned businesses.

Academy's CIO on VETZ Doing the Right Thing for Veterans

Academy Asset Management on Wednesday launched the Academy Veteran Impact ETF (NYSE Arca: VETZ) on the New York Stock Exchange. VETZ seeks to generate income by investing in loans to U.S. service members, military veterans, their survivors, and veteran-owned businesses.

News for Academy Veteran Impact Etf ETF (VETZ)