WBI Power Factor High Dividend ETF

WBI Power Factor High Dividend ETF (WBIY) tracks the Solactive Power Factor High Dividend Index. The index holds 50 high-yielding U.S. stocks that are also screened for earnings, free cash flow and sales relative to their share prices. Its trailing yield was 3.94% as of October 27, 2026, paid quarterly. The trade-off is cost: the expense ratio is 1.00%, while the similar funds it was compared with averaged 0.55%.

• Over the year to Oct 27, 2026, WBIY returned +20.2%, 2nd of 4 among similar funds.
• Its 5-year annualized return was +11.2%.
• Its worst full calendar year was 2022 (-0.5%); its best was 2021 (+28.3%).
• The deepest fall in its price history was 21% (Apr 20, 2022 to Sep 30, 2022), recovered by Jan 31, 2023.

As of Jun 30, 2026, the fund held 50 securities; the ten largest made up 46.62% of assets. It also reported 28.01% in a money-market fund, most likely cash collateral from lending out shares rather than uninvested money.

• Over the three months to Jun 30, 2026, investors withdrew a net $354K (creations minus redemptions, per the N-PORT report).
• Monthly total returns reported for that quarter: +2.17%, +2.38%, -0.47%.

The index starts with the Solactive US Broad Market Index, which covers about the 3,000 largest U.S. companies. It keeps only dividend payers whose yields are above the median. Each stock is then scored on three "Power Factors": earnings, free cash flow and sales, each compared with the share price. Stocks are judged on their own numbers and against industry peers. Solactive then ranks them by "dividend indicated yield." That is last year's dividends as a share of the price, adjusted for what the options market expects next year's dividends to be. The top 50 make the cut, subject to diversification and liquidity rules.

The index is rebuilt every quarter, and no sector can be more than 20% of it at each rebuild. To limit trading, a current holding stays in until it drops out of the top 75. Each month, holdings are checked for dividend cuts or a weak dividend outlook, and changes take effect at month-end. Even with these limits, portfolio turnover was 138%.

Millington Securities is the advisor and WBI Investments is the sub-advisor. They run the fund passively. They try to hold every index stock in the same proportions and keep at least 80% of assets in index securities. The fund does not move to defensive positions when markets fall. The prospectus strategy does not use options, and the June 30, 2026 holdings report listed no derivatives.

• WBIY charges 1% a year, versus an average of 0.55% for the similar funds below (4th of 4, cheapest first).
• Of that, 0.55% is the management fee; the rest covers other fund expenses.
• The fee includes a 0.09% waiver from the adviser, which may end.
• Using the prospectus's standard example, $10,000 invested would cost about $102 in the first year and $1,321 over 10 years (assuming a 5% annual return).

WBIY holds 50 high-dividend U.S. stocks and pays quarterly, with a trailing yield of 3.94% as of October 27, 2026.

WBIY could add stock-market income from value-priced companies. The fund launched in December 2016, so it has no record from 2008. In the first quarter of 2020 it lost 41.19%, and it ended that year down 8.78%. Its worst calendar year was 2018, at -11.33%. In 2022 it fell 21% from April 20 to September 30 and was back to its old high by January 31, 2023, about four months later. Someone who sold during those drops would have locked in the losses. Dividends from high-yield stocks can also be cut. Costs are high: on $10,000, the SEC example shows $102 in the first year and $1,321 over 10 years. Past results don't predict future ones, and a retirement plan should look at the whole portfolio, not one fund.

Matched by closest holdings overlap from the latest N-PORT reports (no similar fund shares 20% or more of its holdings).