Monarch Ambassador Income Index ETF
MAMB
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- Monarch Ambassador Income Index ETF (MAMB) is a passively managed exchange-traded fund that seeks to replicate, before fees and expenses, the performance of the Monarch Ambassador Income Index. The Fund invests at least 80% of its total assets in the Index constituents, which comprise approximately 12 fixed income exchange-traded funds (ETFs) of varying credit quality and duration, including corporate bonds, high-yield or junk bonds, U.S. Treasury bonds, municipal bonds, mortgage-backed securities, and convertible bonds; these provide broad exposure to the U.S. and global bond markets, with ETF weights adjusted across economic cycle phases—expansion, peak, contraction, and trough—to maximize risk-adjusted returns. Up to 12.5% of the Index may be allocated to an alternative sleeve featuring commodity ETFs and currency ETFs for diversification and low correlation potential. Kingsview Wealth Management, LLC serves as the investment adviser and Index provider, employing a proprietary rules-based methodology that incorporates macroeconomic data on employment trends and corporate actions such as mergers and acquisitions; Penserra Capital Management, LLC acts as sub-adviser, utilizing a replication indexing strategy, while Solactive AG independently calculates and publishes the Index. The Fund lists on the Cboe BZX Exchange, with an inception date of March 23, 2021, a net expense ratio of 1.39%, and assets under management of approximately $134 million as of recent data. Recent developments include a name change from Monarch Ambassador Income ETF to Monarch Ambassador Income Index ETF effective prior to March 4, 2024, alongside an Index renaming from Kingsview Ambassador Income Index to Monarch Ambassador Income Index. Portfolio management updates occurred in August 2024, with Christine Johanson, CFA, joining Dustin Lewellyn, CFA, and Ernesto Tong, CFA, of Penserra as a portfolio manager, replacing Anand Desai; the Fund maintained its quarterly dividend distributions, with a trailing twelve-month yield around 2.19%.