Symbols

LIAM

LifeX 2055 Inflation-Protected Longevity Income ETF·CBOE

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Key Stats

Assets Under Management

4.58MUSD

Fund Flows (1Y)

1.75MUSD

Dividend Yield

8.98%

Discount/Premium to NAV

0.02%

Shares Outstanding

19.10K

Expense Ratio

0.25%

About LifeX 2055 Inflation-Protected Longevity Income ETF

Issuer

Stone Ridge Holdings Group LP

Brand

Stone Ridge

Home Page

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

Inception Date

Jan 17, 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

LIAM invests in US Treasury securities, mainly TIPS, aiming for predictable cashflows through 2055. In 2035, investors can opt for Longevity-Linked Distributions via a closed-end fund with payments up to age 100 or Term Distributions continuing through 2055, or a mix. Both Fund and closed-end funds aim to liquidate by 2055, distributing all assets then ceasing distributions. Initially, monthly payouts are $0.0833 per share, adjusted for inflation, until 2035 when it recalibrates to approximately $0.0760 monthly until 2055. Inflation adjustments are based on the Consumer Price Index and distributions are made around the 3rd business day 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.