UVA Unconstrained Medium-Term Fixed Income ETF
$21.23+0.00 (+0.00%)
- Expense ratio
- 0.82%
- Fund size
- $52M
- 1Y return
- −1.2%
- Yield · Last 12 months
- 4.18%
- Holdings
- 132
- Volume · 30D
- 0M sh
- NAV per share
- $21.24
- 52W range
The ETF.net FFIU Grade
Score 21 of 100 sits in the F band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.FScore 17Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.FScore 16Category rankRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.DScore 27Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.FScore 6Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.CScore 52Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.CScore 43Category rank
Our read on FFIU
FA go-anywhere bond fund with a human at the wheel: no index to track, just an active manager picking across the fixed income market for current income. It has been running since 2017.
The Fund seeks current income with limited risk to principal by investing mainly in fixed income securities of any kind. It normally invests at least 80% of assets in those securities.
Why people hold it
- Unconstrained means unconstrained: no benchmark to hug, and the prospectus allows fixed income of any kind, plus up to 20% in futures, options, cash or other funds.sec.gov
- Built for income, not fireworks. At least 80% of assets sit in fixed income, the stated aim is current income with limited risk to principal, and cash goes out quarterly.sec.gov
- Trading since 2017, so there is a real multi-year record across very different rate environments rather than a backtest.
Worth knowing
- Costs 0.54% a year, above the roughly 0.36% median for core bond ETFs and well above index giants like BND, SPAB and SCHZ at 0.03%.
- Small and thinly traded, which usually means wider bid-ask spreads and more gap between your fill price and the fund's underlying value.
- Outcomes hinge on the manager's judgment rather than a published index, so there is no benchmark to measure the portfolio against day to day.
FFIU Holdings
- Bonds
- 132
- 22%
- Cash / Cash Equivalents
Sectors
- Financials100.0%
Geography
- United States100.00%
FFIU Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | FFIU |
|---|---|
| Year to date | −2.6% |
| 1 month | −0.9% |
| 3 months | −2.2% |
| 1 year | −1.2% |
| 3 years | +4.1% |
| 5 years | −1.0% |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | FFIU |
|---|---|---|
| 2026 YTD | −2.6% | |
| 2025 | +8.6% | |
| 2024 | +0.2% | |
| 2023 | +7.4% | |
| 2022 | −15.2% | |
| 2021 | +0.1% | |
| 2020 | +7.9% |
FFIU in the news
ETF.net Research hasn’t filed on FFIU yet — coverage lands here as it’s written.
FFIU Dividends
- 4.18%
- $0.89
- $0.22 per share
- Quarterly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Jun 29, 2026 | Jun 30, 2026 | $0.22 |
| Mar 30, 2026 | Mar 31, 2026 | $0.23 |
| Dec 30, 2025 | Dec 31, 2025 | $0.22 |
| Sep 29, 2025 | Sep 30, 2025 | $0.22 |
| Jun 27, 2025 | Jun 30, 2025 | $0.21 |
| Mar 28, 2025 | Mar 31, 2025 | $0.22 |
| Dec 30, 2024 | Dec 31, 2024 | $0.22 |
| Sep 27, 2024 | Sep 30, 2024 | $0.21 |
| Jun 28, 2024 | Jul 1, 2024 | $0.21 |
| Mar 28, 2024 | Apr 2, 2024 | $0.23 |
| Dec 28, 2023 | Jan 2, 2024 | $0.23 |
| Oct 30, 2023 | Nov 1, 2023 | $0.01 |
FFIU Risk
- 7.3%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- −0.07
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −20.4%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 1.18
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
FFIU Cost
- The middle half of US Aggregate Bond funds
- Median 0.34%
106 of the 112 US Aggregate Bond funds charge less.