Cullen Enhanced Equity Income ETF

None
DIVP

Cullen Enhanced Equity Income ETF

Objective

The Cullen Enhanced Equity Income ETF seeks long-term capital appreciation and current income by investing in large cap, dividend paying companies and then selectively writing covered calls on 25-40% of the portfolio holdings.

Fund AUM
$26.34m
Expense ratio
0.55%
Holdings
-
Primary Exchange
NYSE-Arca

Fund Facts

TickerCusipISINInception DateShares OutstandingExchange Volume
DIVP00791R707US00791R7070Mar 06, 20241,025,0002,979

What is DIVP?

Yield/Rate

Through Jul 09, 2025

12-Month Trailing Distributed Rate*30-Day SEC Yield**Distribution Frequency
7.11%3.59%Monthly

*12 Month Trailing Distributed Rate represents all distributions for the past 12 months, divided by the NAV per share. In addition to net interest income and dividends, distributions include return of capital (ROC), and any capital gains distributed. For estimated ROC by distribution please see the Fund’s 19a Notices below or click here for the latest 19a Notice.

**30-Day SEC Yield is a compounded and annualized figure calculated according to a formula set by the SEC. The formula requires use of a specific methodology for calculating dividends and interest earned, and expenses accrued, during the period, and reflects the maximum offering price per fund share. The standardized computation is designed to facilitate yield comparisons among different funds.

Why invest in DIVP?

  • Income Generation
    The ETF aims to generate high income by collecting a combination of dividends and premiums received from selectively written call covered options.
  • Equity Market Participation
    The portfolio writes call options on 25-40% of the portfolio holdings at any given time, allowing the underlying holdings to continue to have equity market participation.
  • Active Management
    The portfolio management team consistently assesses the portfolio to maximize opportunities and minimize risk.

NAV

Through Jul 09, 2025

NAV

Net Asset ValueDaily ChangeDaily Change (%)30-Day Median Bid/Ask Spread

The media bid-ask spread is calculated by identifying national best bid and national best offer ("NBBO") for each Fund as of the end of each 10 second inerval during each trading day of the last 30 calendar days, or since the listing date of each Fund if shorter, and dividing the difference between each such bid and offer by the midpoint of the NBBO. The median of those values is identified and posted on each business day.

$25.70$-0.07-0.270.002

Market Price

Through Jul 09, 2025

Previous Day's Market Price

Closing PriceDaily ChangeDaily Change (%)Premium/Discount (%)
$25.71$-0.06-0.230.05

Performance

Through Jul 09, 2025

Daily Price/Nav Performance

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Average Annual Total Return (%)

Through Jun 30, 2025
NAV
Market Price
S&P 500 BW (BXM) Index
Through Jun 30, 2025 MTDQTDYTD1 yr3 yrInception
NAV 2.95 -1.19 4.57 8.99 - 10.79
Market Price 2.94 -1.30 4.52 9.07 - 10.82
S&P 500 BW (BXM) Index 2.66 1.90 -1.25 10.25 - 14.37

Cumulative returns are shown for MTD, QTD, YTD, 1yr and since inception. 3yr returns are annualized.

NAV
Market Price
S&P 500 BW (BXM) Index
Through Jun 30, 2025 MTDQTDYTD1 yr3 yrInception
NAV 2.95 -1.19 4.57 8.99 - 10.79
Market Price 2.94 -1.30 4.52 9.07 - 10.82
S&P 500 BW (BXM) Index 2.66 1.90 -1.25 10.25 - 14.37

Cumulative returns are shown for MTD, QTD, YTD, 1yr and since inception. 3yr returns are annualized.

The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted. High short-term performance, when observed, is unusual and investors should not expect such performance to be repeated.

The market price returns are based on the official closing price of an ETF share or, if the official closing price isn't available, the midpoint between the nationa best bid and national best offer ("NBBO") as of the time the ETF calculates current NAV per share, and do not represent the returns you would receive if you traded shares at other times. NAVs are calculated using prices as of 4:00 PM East Time

Premium/Discount

Through Jul 09, 2025


2024
YTD
2025
Days traded at Premium12989
Days traded at Net asset value00
Days traded at Discount7839
Period
Created with Highcharts 11.4.3Apr 01, 24May 01, 24Jun 01, 24Jul 01, 24Aug 01, 24Sep 01, 24Oct 01, 24Nov 01, 24Dec 01, 24Jan 01, 25Feb 01, 25Mar 01, 25Apr 01, 25May 01, 25Jun 01, 25Jul 01, 25-2-1012

Prices

Select Date
TickerDIVP
CUSIP00791R707
Expense Ratio (%)0.55% Gross and Net
Premium/Discount-

Holdings

Portfolio Highlights

Select Date
Security NameTickerCUSIPSharesMarket ValuePercentage
MEDTRONIC PLCMDTG5960L10312250$1090250.04.14
CISCO SYSTEMS INCCSCO17275R10215276$1058168.524.02
VICI PROPERTIES INCVICI92565210930824$1015650.83.86
EOG RESOURCES INCEOG26875P1018278$1009005.423.83
PPL CORPPPL69351T10627673$934240.483.55
ALTRIA GROUP INCMO02209S10316104$930006.03.53
CITIGROUP INCC17296742410828$928934.123.53
CONOCOPHILLIPSCOP20825C1049846$930742.383.53
VERIZON COMMUNICVZ92343V10421422$898278.023.41
DUKE ENERGY CORPDUK26441C2047620$892835.43.39
MERCK & CO. INC.MRK58933Y10510459$875522.893.32
KEURIG DR PEPPER INCKDP49271V10025453$856493.453.25
TRUIST FINANCIAL CORPTFC89832Q10918883$852756.283.24
PACCAR INCPCAR6937181088540$842641.83.20
IBMIBM4592001012873$833572.223.16
CONAGRA BRANDS INCCAG20588710240642$828283.963.14
EXXON MOBIL CORPXOM30231G1027254$825505.23.13
SYSCO CORPSYY87182910710604$809403.323.07
BANK OF AMERICA CORPBAC06050510416854$789441.363.00
UNITED PARCEL-BUPS9113121067638$780221.72.96
COMCAST CORP-CLASS ACMCSA20030N10121760$775091.22.94
BRISTOL-MYERS SQUIBB COBMY11012210815825$754219.52.86
KENVUE INCKVUE49177J10235954$746405.042.83
PPG INDUSTRIES INCPPG6935061076184$730886.962.77
AT&T INCT00206R10226048$724720.482.75
HEALTHPEAK PROPERTIES INCDOC42250P10339273$717124.982.72
BAXTER INTERNATIONAL INCBAX07181310922903$682738.432.59
JPMORGAN CHASE & COJPM46625H1002220$628615.22.39
GENERAL DYNAMICS CORPGD3695501081886$565724.562.15
PNC FINANCIAL SEPNC6934751052656$520947.841.98
GENUINE PARTS COGPC3724601053977$498119.251.89
RIO TINTO PLC-SPON ADRRIO7672041008198$481304.581.83
NORFOLK SOUTHERN CORPNSC6558441081279$332591.161.26
UPS US 07/18/25 C107---39-$897.00.00
BAC US 07/18/25 C49---85-$2465.0-0.01
PCAR US 07/18/25 C100---43-$3784.0-0.01
RIO US 07/18/25 C60---41-$1927.0-0.01
IBM US 07/18/25 C295---28-$5236.0-0.02
JPM US 07/18/25 C290---22-$6248.0-0.02
MRK US 07/18/25 C85---53-$4982.0-0.02
C US 07/18/25 C85---48-$11712.0-0.04
DOC US 07/18/25 C17.5---168-$13104.0-0.05
TFC US 07/18/25 C42.5---83-$24651.0-0.09
Cash---$274139.481.04
NoneDownload all holdings

Top 10 Holdings (%)

Medtronic 4.1
Cisco 4.1
VICI Properties 3.9
EOG Resources 3.8
Altria 3.6
PPL Corporation 3.6
Verizon Communications 3.6
Citigroup 3.5
Duke Energy 3.5
ConocoPhillips 3.4

Sector Breakdown (%)

Fund S&P500
Consumer Staples 15.5 5.5
Financials 14.0 14.0
Health Care 12.8 9.3
Energy 10.2 3.0
Industrials 9.5 8.6
Communication Services 9.5 9.8
Information Technology 7.3 33.1
Utilities 7.1 2.4
Real Estate 6.5 2.0
Materials 4.5 1.9
Consumer Discretionary 1.9 10.4
Usd_Cash 1.3 -
Cash & Equivalents 1.3 0.0

Geographical Breakdown (%)

United States 92.8
Ireland 4.1
Australia 1.8
Cash & Equivalents 1.3

Regional Allocation (%)

Created with Highcharts 11.4.3
North America Developed 92.8
Europe Developed 4.1
Asia Pacific Developed 1.8
Cash & Equivalents 1.3

Totals may not equal 100% due to rounding

The Fund’s holding and sector allocations may change at any time due to ongoing portfolio management. References to specific investments should not be construed as a recommendation by the Fund or Cullen Capital Management to buy or sell the securities.

Income Distribution History (DIVP)

Distribution History (DIVP)

Monthly distribution rates are calculated by dividing the monthly distribution per share by DIVP’s closing NAV on payable date.

Capital Gains History

Ex-Date
Dec 30, 2024
Ex-DateRecord DatePayable DateShort TermLong Term
Dec 30, 2024Dec 30, 2024Dec 31, 20240.25770.0000

Source: SEI / Cullen Capital

Contacts

You should consider each Fund’s investment objectives, risks and charges and expenses carefully before investing or sending money. This and other important information about the investment company can be found in each Fund’s prospectus. Please read the prospectus carefully before investing.

Read Prospectus
To obtain a hardcopy of the prospectus via mail, please call 833-4CULLEN.

Contact Representative

Phones open Monday - Thursday  8:30am - 6:30pm EST, and Friday 8:30am - 5:00pm EST.

  • Phone Icon1-833-4CULLEN
  • Please do not send account or personal information via e-mail.
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