ETF Evaluator:
Fieldstone UVA Uncons Md-Trm Fxd Inc ETF ()
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(as of Aug 26)
Best Performing in Long-Term Bond Over the Last Year
| 7.8% | Cambria Fixed Income Trend ETF (CFIT) |
| 3.1% | F/M 10-Yr Invmt Grd Corp Bd ETF (ZTEN) |
| 1.9% | Fieldstone UVA Uncons Md-Trm Fxd Inc ETF (FFIU) |
| 1.7% | Long-Term Bond () |
| 0.9% | iShares 10+ Year Invmt Grd Corp Bd ETF (IGLB) |
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ETF Details
Fieldstone UVA Uncons Md-Trm Fxd Inc ETF Overview
Fieldstone UVA Uncons Md-Trm Fxd Inc ETF (FFIU) is an actively managed Taxable Bond Long-Term Bond exchange-traded fund (ETF). Spinnaker ETF Trust launched the ETF in 2017.
The investment seeks current income with limited risk to principal.
The fund seeks to achieve its investment objective of current income by investing principally in fixed income securities of any kind with a dollar-weighted average effective duration of between three and ten years. Under normal market conditions, Sub-Adviser intends to invest at least 80% of its net assets (plus the amount of borrowings for investment purposes) in such securities. Fixed income securities include bonds, debt securities, and income-producing instruments of any kind issued by governmental or private-sector entities.
About Fieldstone UVA Uncons Md-Trm Fxd Inc ETF (FFIU)
There are 2 members of the management team with an average tenure of 8.96 years: Robert Barone (2017) and Joshua Barone (2017). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 1 primary benchmark: Bloomberg US Agg Bond TR USD index with a weighting of 100%. Fieldstone UVA Uncons Md-Trm Fxd Inc ETF has 132 securities in its portfolio. The top 10 holdings constitute 20.5% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Fieldstone UVA Uncons Md-Trm Fxd Inc ETF is part of the Fixed Income global asset class and is within the Taxable Bond ETF group. Fieldstone UVA Uncons Md-Trm Fxd Inc ETF has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 1.5% There is 0.0% allocated to foreign stock, and 1.7% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 90.9% (90.9% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Fieldstone UVA Uncons Md-Trm Fxd Inc ETF has 5.6% of the portfolio in cash.
Assets Under Management
The fund has $52 million in total assets, which is below the $1 billion average for the Long-Term Bond category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
FFIU Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Fieldstone UVA Uncons Md-Trm Fxd Inc ETF expense ratio is average compared to funds in the Long-Term Bond category. Fieldstone UVA Uncons Md-Trm Fxd Inc ETF has an expense ratio of 0.54%, which is 203% higher than its category average, making the fund expense ratio grade a F. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Fieldstone UVA Uncons Md-Trm Fxd Inc ETF has a portfolio turnover rate of 12%, which indicates that it holds its assets around / 0.1 years. By way of comparison, the average portfolio turnover is 50% for the Long-Term Bond category.
Recently, in the month of July 2026, Fieldstone UVA Uncons Md-Trm Fxd Inc ETF returned -2.3%, which earned it a grade of B, as the Long-Term Bond category had an average return of -3.3%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Fieldstone UVA Uncons Md-Trm Fxd Inc ETF has a trailing yield of 4.17%, which is below the 5.17% category average.
The fund normally distributes its income quarterly.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Fieldstone UVA Uncons Md-Trm Fxd Inc ETF Grades
Year to date, the ETF has returned -1.6%, 0.3 percentage points better than the category, which translates into a grade of B. The fund has returned 1.9% over the past year (grade of B), 3.4% over the past three years (grade of A) and -0.8% per year over the past five years (grade of A).
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FFIU Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| FFIU Return (NAV) | -2.3% | -1.3% | 1.9% | 3.4% | -0.8% | na |
| FFIU Return (Price) | -2.0% | -1.6% | 2.4% | 3.4% | -0.8% | na |
| NAV +/- Price Return | -0.234% | 0.239% | -0.496% | 0.029% | -0.025% | na |
| Long-Term Bond Avg | -3.3% | -1.7% | 1.7% | 2.5% | -3.5% | 1.1% |
| FFIU Grade (NAV) | B | B | B | A | A | na |
| +/- Category (NAV) | 1.0% | 0.4% | 0.2% | 0.9% | 2.6% | na |
| FFIU Tax-Cost Ratio | na | na | 1.6% | 1.6% | 1.5% | na |
FFIU Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| FFIU Return (NAV) | -1.6% | 7.1% | 0.5% | 7.6% | -14.9% | 0.1% | 7.9% | 9.5% | -0.4% | na | na |
| FFIU Return (Price) | -2.0% | 8.6% | 0.2% | 7.4% | -15.2% | 0.1% | 7.9% | 9.6% | -0.7% | na | na |
| NAV +/- Price Ret | 0.308% | 0.212% | -0.613% | -0.024% | 0.015% | -0.148% | -0.003% | 1.6% | 52.6% | na | na |
| Long-Term Bond Avg | -1.9% | 7.4% | -1.7% | 9.8% | -24.7% | -1.5% | 13.9% | 20.4% | -5.6% | 11.7% | 9.3% |
| FFIU Grade (NAV) | B | F | A | F | A | A | F | F | A | na | na |
| +/- Category | 0.3% | -0.3% | 2.2% | -2.3% | 9.7% | 1.6% | -6.0% | -11.0% | 5.2% | na | na |
| Risk Measures | |
| Beta: | 1.19 |
| R-Squared: | 98% |
| Standard Deviation: | 6.8% |
| Category Risk Index: | 0.62 |
| Category Risk Rating: | Low |
| Total Risk Index: | 0.55 |
| Total Risk Rating: | Below Average |
| Portfolio Characteristics | |
| Yield: | 4.2% |
| Total Assets: | $ 52 Mil |
| Share Class Assets: | $ 52 Mil |
| Turnover: | 12.1% |
| Expense Ratio: | 0.54% |
| Index Fund: | No |
| Index Tracked: | Bloomberg US Agg Bond TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | |
| Income Distribution Frequency: | Quarterly |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 9.0 years | |||
| Average Tenure: 9.0 years | |||
| Managers (Year): Barone Robert (2017), Barone Joshua (2017) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 132 |
| % in Top 10 Holdings: | 20.5% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | 1.5% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 1.7% |
| Domestic Bond: | 90.9% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.4% |
| Cash: | 5.6% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Spinnaker ETF Trust |
| Phone Number: | 800-773-3863 |
| Website: | |
| Inception Date: | August 18, 2017 |
Expenses and Fees
| Expense Ratio (%): | 0.54% (Rating: Avg) |
| Category Average Expense Ratio (%): | 0.18% |
