EXCHANGE LISTED FUNDS TRUST
Cabana Target Drawdown 5 ETF (TDSA)
Cabana Target Drawdown 7 ETF (TDSB)
Cabana Target Drawdown 10 ETF (TDSC)
Cabana Target Drawdown 13 ETF (TDSD)
Cabana Target Drawdown 16 ETF (TDSE)
Cabana Target Leading Sector Aggressive ETF (CLSA)
Cabana Target Leading Sector Conservative ETF (CLSC)
Cabana Target Leading Sector Moderate ETF (CLSM)
Semi-Annual Report
October 31, 2021
(Unaudited)
Exchange Listed Funds Trust TABLE OF CONTENTS |
October 31, 2021 (Unaudited) |
Cabana Target Drawdown 5 ETF |
||
1 | ||
2 | ||
Cabana Target Drawdown 7 ETF |
||
3 | ||
4 | ||
Cabana Target Drawdown 10 ETF |
||
5 | ||
6 | ||
Cabana Target Drawdown 13 ETF |
||
7 | ||
8 | ||
Cabana Target Drawdown 16 ETF |
||
9 | ||
10 | ||
Cabana Target Leading Sector Aggressive ETF |
||
11 | ||
12 | ||
Cabana Target Leading Sector Conservative ETF |
||
13 | ||
14 | ||
Cabana Target Leading Sector Moderate ETF |
||
15 | ||
16 | ||
17 | ||
19 | ||
21 | ||
25 | ||
29 | ||
38 | ||
40 | ||
Board Consideration of Approval of Advisory and Sub-Advisory Agreements |
41 |
Before investing you should carefully consider each Fund’s investment objectives, risks, charges and expenses. This and other information is available in each Fund’s prospectus, a copy of which may be obtained by visiting the Funds’ website at www.cabanaetfs.com. Please read a Fund’s prospectus carefully before you invest.
There are risks involved with investing, including possible loss of principal, and there is no guarantee each Fund will achieve its investment objective. Each Fund is classified as a diversified investment company under the Investment Company Act of 1940 (the “1940 Act”) except for the Cabana Target Leading Sector Aggressive ETF, Cabana Target Leading Sector Conservative ETF and Cabana Target Leading Moderate ETF, each of which may invest more of its assets in securities of a single issuer, and may have an adverse effect on a Fund’s performance. Concentration in a particular industry or sector will subject each Fund to loss due to adverse occurrences that may affect that industry or sector.
Individual shares of each Fund may be purchased or sold in the secondary market throughout the regular trading day on the NYSE Arca, Inc. (the “Exchange”) through a brokerage account. However, shares are not individually redeemable directly from a Fund. Each Fund issues and redeems shares on a continuous basis, at net asset value (“NAV”), only in large blocks of shares (“Creation Units”).
Distributor: Foreside Fund Services, LLC
i
Number
|
Value | |||||
EXCHANGE-TRADED FUNDS — 100.0% |
|
| ||||
CURRENCY — 10.0% |
|
| ||||
WisdomTree Bloomberg U.S. Dollar Bullish Fund |
123,606 |
$ |
3,197,687 |
| ||
EQUITY — 51.0% |
|
| ||||
Invesco QQQ Trust Series 1 |
8,670 |
|
3,347,574 |
| ||
Vanguard Communication Services ETF |
21,718 |
|
3,079,178 |
| ||
Vanguard Consumer Discretionary ETF |
9,797 |
|
3,319,321 |
| ||
Vanguard Health Care ETF |
12,520 |
|
3,235,794 |
| ||
Vanguard S&P 500 ETF |
7,837 |
|
3,308,468 |
| ||
|
16,290,335 |
| ||||
FIXED INCOME — 39.0% |
|
| ||||
Vanguard Intermediate-Term Bond ETF |
34,843 |
|
3,095,452 |
| ||
Vanguard Long-Term Bond ETF |
30,299 |
|
3,146,551 |
| ||
Vanguard Tax-Exempt Bond Index ETF |
56,704 |
|
3,101,142 |
| ||
Vanguard Total Bond Market ETF |
36,529 |
|
3,118,846 |
| ||
|
12,461,991 |
| ||||
TOTAL
EXCHANGE-TRADED FUNDS |
|
31,950,013 |
| |||
|
| |||||
SHORT-TERM INVESTMENTS — 0.1% |
|
| ||||
Invesco Government & Agency Portfolio — Institutional Class, 0.03%(a) |
28,318 |
|
28,318 |
| ||
TOTAL SHORT
TERM INVESTMENTS |
|
28,318 |
| |||
TOTAL
INVESTMENTS — 100.1% |
|
31,978,331 |
| |||
Liabilities in Excess of Other
|
|
(15,622 |
) | |||
TOTAL NET ASSETS — 100.0% |
$ |
31,962,709 |
|
(a) The rate is the annualized seven-day yield at period end.
1
Security Type/Sector |
Percent of
| ||
Exchange-Traded Funds |
| ||
Currency |
10.0 |
% | |
Equity |
51.0 |
% | |
Fixed Income |
39.0 |
% | |
Total Exchange-Traded Funds |
100.0 |
% | |
Short-Term Investments |
0.1 |
% | |
Total Investments |
100.1 |
% | |
Liabilities in Excess of Other Assets |
(0.1 |
)% | |
Total Net Assets |
100.0 |
% |
2
Number
|
Value | |||||
EXCHANGE-TRADED FUNDS — 99.8% |
|
| ||||
EQUITY — 60.9% |
|
| ||||
Invesco QQQ Trust Series 1 |
75,484 |
$ |
29,145,127 |
| ||
Vanguard Communication Services ETF |
189,133 |
|
26,815,277 |
| ||
Vanguard Extended Market ETF |
145,559 |
|
28,002,640 |
| ||
Vanguard Health Care ETF |
109,024 |
|
28,177,253 |
| ||
Vanguard Information Technology ETF |
67,278 |
|
29,209,417 |
| ||
Vanguard S&P 500 ETF |
68,231 |
|
28,804,399 |
| ||
|
170,154,113 |
| ||||
FIXED INCOME — 38.9% |
|
| ||||
Global X US Preferred ETF |
1,050,149 |
|
27,272,369 |
| ||
Vanguard Intermediate-Term Bond ETF |
303,440 |
|
26,957,610 |
| ||
Vanguard Long-Term Bond ETF |
263,865 |
|
27,402,380 |
| ||
Vanguard Total Bond Market ETF |
318,113 |
|
27,160,488 |
| ||
|
108,792,847 |
| ||||
TOTAL
EXCHANGE-TRADED FUNDS |
|
278,946,960 |
| |||
|
| |||||
SHORT-TERM INVESTMENTS — 0.3% |
|
| ||||
Invesco Government & Agency Portfolio — Institutional Class, 0.03%(a) |
821,613 |
|
821,613 |
| ||
TOTAL SHORT
TERM INVESTMENTS |
|
821,613 |
| |||
TOTAL
INVESTMENTS — 100.1% |
|
279,768,573 |
| |||
Liabilities in Excess of Other Assets — (0.1%) |
|
(136,510 |
) | |||
TOTAL NET ASSETS — 100.0% |
$ |
279,632,063 |
|
(a) The rate is the annualized seven-day yield at period end.
3
Security Type/Sector |
Percent of
| ||
Exchange-Traded Funds |
| ||
Equity |
60.9 |
% | |
Fixed Income |
38.9 |
% | |
Total Exchange-Traded Funds |
99.8 |
% | |
Short-Term Investments |
0.3 |
% | |
Total Investments |
100.1 |
% | |
Liabilities in Excess of Other Assets |
(0.1 |
)% | |
Total Net Assets |
100.0 |
% |
4
Number
|
Value | |||||
EXCHANGE-TRADED FUNDS — 99.8% |
|
| ||||
EQUITY — 70.8% |
|
| ||||
Invesco QQQ Trust Series 1 |
226,218 |
$ |
87,345,032 |
| ||
Vanguard Communication Services ETF |
566,786 |
|
80,358,919 |
| ||
Vanguard Consumer Discretionary ETF |
255,611 |
|
86,603,563 |
| ||
Vanguard Extended Market ETF |
436,200 |
|
83,916,156 |
| ||
Vanguard Information Technology ETF |
201,596 |
|
87,524,919 |
| ||
Vanguard S&P 500 ETF |
204,469 |
|
86,318,633 |
| ||
Vanguard Total Stock Market ETF |
362,655 |
|
85,916,596 |
| ||
|
597,983,818 |
| ||||
FIXED INCOME — 29.0% |
|
| ||||
Global X US Preferred ETF |
3,147,183 |
|
81,732,343 |
| ||
Vanguard Intermediate-Term Bond ETF |
909,371 |
|
80,788,520 |
| ||
Vanguard Long-Term Bond ETF |
790,771 |
|
82,121,568 |
| ||
|
244,642,431 |
| ||||
TOTAL
EXCHANGE-TRADED FUNDS |
|
842,626,249 |
| |||
|
| |||||
SHORT-TERM INVESTMENTS — 0.3% |
|
| ||||
Invesco Government & Agency Portfolio – Institutional Class, 0.03%(a) |
2,353,110 |
|
2,353,110 |
| ||
TOTAL SHORT
TERM INVESTMENTS |
|
2,353,110 |
| |||
TOTAL
INVESTMENTS — 100.1% |
|
844,979,359 |
| |||
Liabilities in Excess of Other Assets — (0.1%) |
|
(404,956 |
) | |||
TOTAL NET ASSETS — 100.0% |
$ |
844,574,403 |
|
(a) The rate is the annualized seven-day yield at period end.
5
Security Type/Sector |
Percent of
| ||
Exchange-Traded Funds |
| ||
Equity |
70.8 |
% | |
Fixed Income |
29.0 |
% | |
Total Exchange-Traded Funds |
99.8 |
% | |
Short-Term Investments |
0.3 |
% | |
Total Investments |
100.1 |
% | |
Liabilities in Excess of Other Assets |
(0.1 |
)% | |
Total Net Assets |
100.0 |
% |
6
Number
|
Value | |||||
EXCHANGE-TRADED FUNDS — 99.8% |
|
| ||||
EQUITY — 90.2% |
|
| ||||
Invesco QQQ Trust Series 1 |
79,724 |
$ |
30,782,234 |
| ||
Vanguard Communication Services ETF |
199,773 |
|
28,323,816 |
| ||
Vanguard Consumer Discretionary ETF |
90,081 |
|
30,520,344 |
| ||
Vanguard Extended Market ETF |
153,751 |
|
29,578,617 |
| ||
Vanguard Financials ETF |
317,764 |
|
31,665,183 |
| ||
Vanguard Health Care ETF |
115,143 |
|
29,758,708 |
| ||
Vanguard Information Technology ETF |
71,057 |
|
30,850,107 |
| ||
Vanguard Mid-Cap ETF |
120,810 |
|
30,487,612 |
| ||
Vanguard S&P 500 ETF |
72,053 |
|
30,417,894 |
| ||
|
272,384,515 |
| ||||
FIXED INCOME — 9.6% |
|
| ||||
Vanguard Long-Term Bond ETF |
278,699 |
|
28,942,891 |
| ||
TOTAL
EXCHANGE-TRADED FUNDS |
|
301,327,406 |
| |||
|
| |||||
SHORT-TERM INVESTMENTS — 0.2% |
|
| ||||
Invesco Government & Agency Portfolio – Institutional Class, 0.03%(a) |
659,884 |
|
659,884 |
| ||
TOTAL SHORT
TERM INVESTMENTS |
|
659,884 |
| |||
TOTAL
INVESTMENTS — 100.0% |
|
301,987,290 |
| |||
Liabilities in Excess of Other Assets — (0.0)% |
|
(146,080 |
) | |||
TOTAL NET ASSETS — 100.0% |
$ |
301,841,210 |
|
(a) The rate is the annualized seven-day yield at period end.
7
Security Type/Sector |
Percent of
| ||
Exchange-Traded Funds |
| ||
Equity |
90.2 |
% | |
Fixed Income |
9.6 |
% | |
Total Exchange-Traded Funds |
99.8 |
% | |
Short-Term Investments |
0.2 |
% | |
Total Investments |
100.0 |
% | |
Liabilities in Excess of Other Assets |
(0.0 |
)% | |
Total Net Assets |
100.0 |
% |
8
Number
|
Value | |||||
EXCHANGE-TRADED FUNDS — 99.8% |
||||||
EQUITY — 99.8% |
||||||
Invesco QQQ Trust Series 1 |
43,725 |
$ |
16,882,660 |
| ||
Vanguard Communication Services ETF |
109,576 |
|
15,535,685 |
| ||
Vanguard Consumer Discretionary ETF |
49,414 |
|
16,741,957 |
| ||
Vanguard Extended Market ETF |
84,331 |
|
16,223,598 |
| ||
Vanguard Industrials ETF |
80,158 |
|
16,083,703 |
| ||
Vanguard Information Technology ETF |
38,976 |
|
16,921,820 |
| ||
Vanguard Mid-Cap ETF |
66,265 |
|
16,722,636 |
| ||
Vanguard S&P 500 ETF |
39,521 |
|
16,684,185 |
| ||
Vanguard Small-Cap ETF |
70,542 |
|
16,188,684 |
| ||
Vanguard Total Stock Market ETF |
70,118 |
|
16,611,655 |
| ||
|
164,596,583 |
| ||||
TOTAL
EXCHANGE-TRADED FUNDS |
|
164,596,583 |
| |||
|
| |||||
SHORT-TERM INVESTMENTS — 0.2% |
|
| ||||
Invesco Government & Agency Portfolio – Institutional Class, 0.03%(a) |
332,677 |
|
332,677 |
| ||
TOTAL SHORT
TERM INVESTMENTS |
|
332,677 |
| |||
TOTAL
INVESTMENTS — 100.0% |
|
164,929,260 |
| |||
Liabilities in Excess of Other Assets — (0.0)% |
|
(70,569 |
) | |||
TOTAL NET ASSETS — 100.0% |
$ |
164,858,691 |
|
(a) The rate is the annualized seven-day yield at period end.
9
Security Type/Sector |
Percent of
| ||
Exchange-Traded Funds |
| ||
Equity |
99.8 |
% | |
Total Exchange-Traded Funds |
99.8 |
% | |
Short-Term Investments |
0.2 |
% | |
Total Investments |
100.0 |
% | |
Liabilities in Excess of Other Assets |
(0.0 |
)% | |
Total Net Assets |
100.0 |
% |
10
Number
|
Value | |||||
EXCHANGE-TRADED FUNDS — 99.9% |
|
| ||||
EQUITY — 99.9% |
|
| ||||
Invesco QQQ Trust Series 1 |
183,490 |
$ |
70,847,324 |
| ||
Vanguard Communication Services ETF |
178,770 |
|
25,346,011 |
| ||
Vanguard Consumer Discretionary ETF |
288,430 |
|
97,722,968 |
| ||
|
193,916,303 |
| ||||
TOTAL
EXCHANGE-TRADED FUNDS |
|
193,916,303 |
| |||
|
| |||||
SHORT-TERM INVESTMENTS — 0.2% |
|
| ||||
Invesco Government & Agency Portfolio – Institutional Class, 0.03%(a) |
359,313 |
|
359,313 |
| ||
TOTAL SHORT
TERM INVESTMENTS |
|
359,313 |
| |||
TOTAL
INVESTMENTS — 100.1% |
|
194,275,616 |
| |||
Liabilities in Excess of Other Assets — (0.1%) |
|
(86,673 |
) | |||
TOTAL NET ASSETS — 100.0% |
$ |
194,188,943 |
|
(a) The rate is the annualized seven-day yield at period end.
11
Security Type/Sector |
Percent of
| ||
Exchange-Traded Funds |
| ||
Equity |
99.9 |
% | |
Total Exchange-Traded Funds |
99.9 |
% | |
Short-Term Investments |
0.2 |
% | |
Total Investments |
100.1 |
% | |
Liabilities in Excess of Other Assets |
(0.1 |
)% | |
Total Net Assets |
100.0 |
% |
12
Number
|
Value | ||||
EXCHANGE-TRADED FUNDS — 99.8% |
|
||||
CURRENCY — 11.9% |
|
||||
WisdomTree Bloomberg U.S. Dollar Bullish Fund(a) |
858,188 |
$ |
22,201,324 | ||
EQUITY — 64.7% |
|
||||
Invesco QQQ Trust Series 1 |
121,472 |
|
46,901,554 | ||
SPDR Dow Jones Industrial Average ETF Trust |
10,577 |
|
3,788,999 | ||
Vanguard Communication Services ETF |
330,252 |
|
46,823,128 | ||
Vanguard Health Care ETF |
58,200 |
|
15,041,790 | ||
Vanguard S&P 500 ETF |
18,333 |
|
7,739,459 | ||
|
120,294,930 | ||||
FIXED INCOME — 23.2% |
|
||||
Vanguard Long-Term Bond ETF |
346,803 |
|
36,015,491 | ||
Vanguard Short-Term Bond ETF |
44,133 |
|
3,594,191 | ||
Vanguard Total Bond Market ETF |
42,068 |
|
3,591,766 | ||
|
43,201,448 | ||||
TOTAL
EXCHANGE-TRADED FUNDS |
|
185,697,702 | |||
|
|||||
SHORT-TERM INVESTMENTS — 0.2% |
|
||||
Invesco Government & Agency Portfolio – Institutional Class, 0.03%(b) |
327,597 |
|
327,597 | ||
TOTAL SHORT
TERM INVESTMENTS |
|
327,597 | |||
TOTAL
INVESTMENTS — 100.0% |
|
186,025,299 | |||
Other Assets in Excess of Liabilities — (0.0)% |
|
43,177 | |||
TOTAL NET ASSETS — 100.0% |
$ |
186,068,476 |
(a) Affiliated issuer.
(b) The rate is the annualized seven-day yield at period end
Other Affiliated Issuers
An affiliated company is a company in which the Fund has ownership of at least 5% of the voting securities. Fiscal period to date transactions with companies which are or were affiliates are as follows:
Affiliate |
Value at
|
Purchases
|
Sales
|
Net
|
Net Change
|
Value at
|
Number of
|
Dividend
|
Capital Gain
| ||||||||||||||||||
WisdomTree Bloomberg U.S. Dollar Bullish Fund |
$ |
— |
$ |
22,446,601 |
$ |
(454,810 |
) |
$ |
6,319 |
$ |
203,214 |
$ |
22,201,324 |
858,188 |
$ |
— |
$ |
— |
13
Security Type/Sector |
Percent of
| ||
Exchange-Traded Funds |
| ||
Currency |
11.9 |
% | |
Equity |
64.7 |
% | |
Fixed Income |
23.2 |
% | |
Total Exchange-Traded Funds |
99.8 |
% | |
Short-Term Investments |
0.2 |
% | |
Total Investments |
100.0 |
% | |
Other Assets in Excess of Liabilities |
0.0 |
% | |
Total Net Assets |
100.0 |
% |