AWTM Ultra-Short Duration Enhanced Income ETF
AWTM
New York Stock Exchange Arca- -
USD
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Bonds
- Address
- DE United States of America
- IPO Date
- Jan 28, 2019
- CIK
- 0001742912
- Similar Companies
- Business
- AWTM Ultra-Short Duration Enhanced Income ETF (AWTM) is an actively managed exchange-traded fund that seeks to maximize current income by targeting a yield of 0.75% to 1.00% over the most recently issued 3-month U.S. Treasury bill, while preserving capital and maintaining daily liquidity; it invests primarily in a diversified portfolio of investment-grade bonds with ultra-short durations, including U.S. dollar-denominated debt securities from government and corporate issuers. The fund offers exposure to short-term fixed income instruments suitable for treasury management, particularly appealing to insurance companies due to its pursuit of a National Association of Insurance Commissioners (NAIC) 2A designation, which treats it favorably compared to non-rated ETFs treated as equities. Launched on January 29, 2019, and headquartered in Eagan, Minnesota, through its adviser Aware Asset Management Inc., an affiliate of Blue Cross and Blue Shield of Minnesota focused on U.S. insurance industry assets, the ETF operates within the Tidal ETF Trust and trades on U.S. exchanges. In June 2022, the fund underwent a significant management change when National Investment Services resigned as adviser, with the name shifting from National Investment Services Ultra-Short Duration Enhanced Income ETF to its current designation under Aware Asset Management. However, on July 1, 2022, the Board of Trustees of the Tidal ETF Trust announced the liquidation and closure of AWTM due to insufficient assets under management, with trading ceasing on July 15, 2022, and final distributions completed shortly thereafter; the ETF is no longer active or accepting investments. Prior to closure, assets peaked around USD 392 million in April 2020 but declined amid market challenges. The fund targeted institutional investors, including insurance firms managing 5-10% of portfolios in ETFs, with geographic focus on U.S. fixed income markets.