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Our mission: Bringing practical business and technical intelligence to today's structured cabling professionals

For more than 30 years, Cabling Installation & Maintenance has provided useful, practical information to professionals responsible for the specification, design, installation and management of structured cabling systems serving enterprise, data center and other environments. These professionals are challenged to stay informed of constantly evolving standards, system-design and installation approaches, product and system capabilities, technologies, as well as applications that rely on high-performance structured cabling systems. Our editors synthesize these complex issues into multiple information products. This portfolio of information products provides concrete detail that improves the efficiency of day-to-day operations, and equips cabling professionals with the perspective that enables strategic planning for networks’ optimum long-term performance.

Throughout our annual magazine, weekly email newsletters and 24/7/365 website, Cabling Installation & Maintenance digs into the essential topics our audience focuses on.

  • Design, Installation and Testing: We explain the bottom-up design of cabling systems, from case histories of actual projects to solutions for specific problems or aspects of the design process. We also look at specific installations using a case-history approach to highlight challenging problems, solutions and unique features. Additionally, we examine evolving test-and-measurement technologies and techniques designed to address the standards-governed and practical-use performance requirements of cabling systems.
  • Technology: We evaluate product innovations and technology trends as they impact a particular product class through interviews with manufacturers, installers and users, as well as contributed articles from subject-matter experts.
  • Data Center: Cabling Installation & Maintenance takes an in-depth look at design and installation workmanship issues as well as the unique technology being deployed specifically for data centers.
  • Physical Security: Focusing on the areas in which security and IT—and the infrastructure for both—interlock and overlap, we pay specific attention to Internet Protocol’s influence over the development of security applications.
  • Standards: Tracking the activities of North American and international standards-making organizations, we provide updates on specifications that are in-progress, looking forward to how they will affect cabling-system design and installation. We also produce articles explaining the practical aspects of designing and installing cabling systems in accordance with the specifications of established standards.

Cabling Installation & Maintenance is published by Endeavor Business Media, a division of EndeavorB2B.

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Simplify Launches the MTBA ETF, Revolutionizing Exposure to Mortgage-Backed Securities

“Newly issued MBS are the best risk-adjusted bonds in the market,” according to Harley Bassman, “The Convexity Maven,” creator of MTBA and 35-year veteran in MBS Derivatives trading

Simplify Asset Management (“Simplify”), an innovative provider of Exchange Traded Funds (“ETFs”), is today launching its newest fund, the Simplify MBS ETF (MTBA).

MTBA invests in mortgage-backed securities (MBS), which provide attractive yields versus comparable US Treasuries while carrying little to no credit risk. Unlike the MBS which make up the benchmark Bloomberg U.S. MBS Index and which populate the holdings of the large, legacy MBS-focused ETFs, MTBA will focus on providing exposure to newer MBS issued in 2023.

“MBS issued this year have larger coupons and shorter durations in comparison to previous vintages, providing a potential cushion against losses if the Federal Reserve keeps rates ‘higher for longer,’ which is something I have been suggesting will be the case for some time,” said Harley Bassman, Managing Partner at Simplify and creator of the strategy underpinning MTBA. “Approaches that only mimic the broad MBS universe are bound to disappoint since more than 70% of all 30-year MBS have coupons between 2% and 3.5% with an average price near 79, meaning investors are left with small distributions, large durations, and poor positioning in the event of a hard landing.”

MTBA will initially invest in the Federal National Mortgage Association (Fannie Mae) 6.0% coupon bonds. This exposure will be obtained via investments in To-Be-Announced (TBA) contracts, which are MBS forward contracts. These TBA contracts provide improved liquidity versus buying MBS directly, have greater operational and tax simplicity, and will be rolled monthly as they approach expiration.

MTBA is expected to deliver a monthly distribution and will do so with no lockups or K-1 tax forms.

“Investors understand the theoretical role MBS exposure should play in a diversified fixed-income portfolio, providing attractive yields versus comparable US Treasuries while carrying little to no credit risk. Yet to this point, broad MBS solutions have been found wanting. Rather than go broad, now is the time for investors to consider the exposure offered by MTBA,” added Bassman. “In my opinion, newly issued MBS are the best risk-adjusted bonds in the market, and my colleagues and I are thrilled to be rolling out this fund at what is such a crucial time for income-focused investors.”

Bassman is also the creator of the Simplify Interest Rate Hedge ETF (PFIX). PFIX uses OTC interest rate options to deliver an exposure that is functionally similar to owning a position in long-dated put options on 20-year US Treasury bonds.

In addition to MTBA and PFIX, Simplify has also introduced a number of other innovative fixed income ETFs, such as the Simplify Short Term Futures Strategy ETF (TUA). TUA, which has gathered more than $650 million in assets, provides levered exposure to the 2-year US Treasury to allow investors to easily make meaningful bets on the short end of the curve.

“The current levels of complexity and volatility across the fixed income spectrum are unlike anything investors have seen in decades. Helping navigate this new normal is at the core of our efforts at Simplify, and we look forward to continuing to educate the marketplace about MTBA and all of the funds in our fast-growing lineup,” added Paul Kim, CEO of Simplify.

ABOUT SIMPLIFY ASSET MANAGEMENT INC

Simplify Asset Management Inc. is a Registered Investment Adviser founded in 2020 to help advisors tackle the most pressing portfolio challenges with an innovative set of options-based strategies. By accounting for real-world investor needs and market behavior, along with the non-linear power of options, our strategies allow for the tailored portfolio outcomes for which clients are looking. For more information, visit www.simplify.us.

DEFINITIONS:

Coupon: The annual interest rate paid on a bond, expressed as a percentage of the face value and paid from the issue date until maturity.

Duration: A measure of the sensitivity of the price of a bond or other debt instrument to a change in interest rates.

Mortgage-Backed Securities (MBS): Investment products similar to bonds. Each MBS consists of a bundle of home loans and other real estate debt bought from the banks that issued them. Investors in mortgage-backed securities receive periodic payments similar to bond coupon payments.

To-Be-Announced (TBA): A term that describes the forward-settling of mortgage-backed securities (MBS) trades.

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IMPORTANT INFORMATION:

Investors should carefully consider the investment objectives, risks, charges, and expenses of Exchange Traded Funds (ETFs) before investing. To obtain an ETF's prospectus containing this and other important information, please call (855) 772-8488, or visit SimplifyETFs.com. Please read the prospectus carefully before you invest.

An investment in the fund involves risk, including possible loss of principal.

The fund is actively-managed is subject to the risk that the strategy may not produce the intended results. The fund is new and has a limited operating history to evaluate.

The use of derivative instruments involves risks different from, or possibly greater than, the risks associated with investing directly in securities and other traditional investments. These risks include (i) the risk that the counterparty to a derivative transaction may not fulfill its contractual obligations; (ii) risk of mispricing or improper valuation; and (iii) the risk that changes in the value of the derivative may not correlate perfectly with the underlying asset, rate, or index. Derivative prices are highly volatile and may fluctuate substantially during a short period of time. The use of leverage by the Fund, such as borrowing money to purchase securities or the use of options, will cause the Fund to incur additional expenses and magnify the Fund’s gains or losses. The earnings and prospects of small and medium-sized companies are more volatile than larger companies and may experience higher failure rates than larger companies. Small and medium-sized companies normally have a lower trading volume than larger companies, which may tend to make their market price fall more disproportionately than larger companies in response to selling pressures and may have limited markets, product lines, or financial resources and lack management experience.

Mortgage-Related Risks. MBS represent interests in “pools” of mortgages and often involve risks that are different from or possibly more acute than risks associated with other types of debt instruments. TBA Securities Risk. In a TBA transaction, a seller agrees to deliver a security at a future date but does not specify the particular security to be delivered. Instead, the seller agrees to accept any security that meets specified terms. Limited History of Operations. The Funds are new ETFs and therefore do not yet have a history of operations for investors to evaluate.

Simplify ETFs are distributed by Foreside Financial Services, LLC. Simplify and Foreside are not related.

©2023 Simplify ETFs. All rights reserved.

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