Symbols

LFAO

LifeX 2055 Longevity Income ETF·CBOE

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Key Stats

Assets Under Management

4.46MUSD

Fund Flows (1Y)

4.15MUSD

Dividend Yield

14.24%

Discount/Premium to NAV

0.02%

Shares Outstanding

26.30K

Expense Ratio

0.25%

About LifeX 2055 Longevity Income ETF

Issuer

Stone Ridge Holdings Group LP

Brand

Stone Ridge

Home Page

https://www.lifexfunds.com/etfs/lfao

Inception Date

Jan 8, 2024

Structure

Open-Ended Fund

Index Tracked

Management Style

Active

Dividend Treatment

Distributes

Distribution Tax Treatment

Ordinary income

Income Tax Type

Capital Gains

Max ST Capital Gains Rate

39.60%

Max LT Capital Gains Rate

20.00%

Primary Advisor

Stone Ridge Asset Management LLC

Distributor

LFAO targets monthly distributions of income and principal through the end of 2055, less operating fees. Managing US Treasury securities, a distribution rate is calculated based on the life expectancy of individuals born in 1955. In April 2035, the distribution rate is recalibrated, reducing payouts and rebalancing the portfolio to mitigate interest rate changes. At this time, shareholders turning 80 can choose between Longevity-Linked Distributions through a closed-end fund, offering monthly payments for life up to age 100, or Term Distributions, with monthly payouts continuing through 2055, or a combination of both. Both the Fund and closed-end funds will liquidate by 2055, distributing all assets and ceasing distributions. Distributions are typically on the 3rd business day of each month. A portion of each monthly distribution is considered return capital, reducing the amount for investment and lowering the investor's tax basis in their shares.