Syntax Stratified MidCap
SMDY
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- Syntax Stratified MidCap ETF (NYSE Arca: SMDY) is an exchange-traded fund that seeks to track the performance, before fees and expenses, of the Syntax Stratified MidCap Index; this index reweights all constituents of the S&P MidCap 400 Index using Syntax LLC's patented Functional Information System to diversify business-related risks across eight functional sectors including consumer, energy, financials, food, health care, industrials, information, and information tools, with equal sector allocations and quarterly rebalancing. The fund holds approximately 402 stocks with a focus on mid-cap equities (82.6% mid-cap weighting), spanning sectors such as finance (10.19%), technology services (4.78%), health technology (4.18%), and electronic technology (3.92%); top holdings include Scotts Miracle-Gro Co. (1.82%), Coty Inc. (1.64%), Doximity Inc. (1.37%), Ciena Corp. (1.35%), and Frontier Communications Parent Inc. (1.28%). Managed by Syntax Advisors, LLC with a net expense ratio of 0.35%, SMDY provides investors exposure to developed North American markets through diversified mid-cap blend equities. In a major strategic reorganization completed on September 27, 2024, SMDY and other Syntax Stratified ETFs—including Syntax Stratified LargeCap ETF (SSPY), SmallCap ETF (SSLY), U.S. Total Market ETF (SYUS), and Total Market II ETF (SYII)—were consolidated into the Stratified LargeCap Index ETF (SSPY) under the sponsorship of Exchange Traded Concepts, LLC; this taxable event for SMDY shareholders at an exchange ratio of 0.558708 transferred assets to SSPY, streamlining Syntax's product lineup while preserving the stratified weighting methodology on S&P 500 constituents. Originally launched on January 16, 2020 by Syntax ETF Trust, headquartered at One Liberty Plaza, 46th Floor, New York, NY, the fund's assets under management stood at approximately $5.52 million as of late 2024 with outstanding shares of 300,000.