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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
THIS DOCUMENT IS A TECHNICAL ILLUSTRATION OF HOW CERTAIN DISCLOSURES IN SEC FILINGS ARE TO BE TAGGED. IT DOES NOT INDICATE WHICH PARTICULAR DISCLOSURES MUST BE INCLUDED AND/OR TAGGED IN COMMISSION FILINGS, AND IT DOES NOT CONSTITUTE LEGAL GUIDANCE OF ANY SORT.
Washington,
D.C. 20549
FORM
N-CSRS/A
CERTIFIED
SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT
INVESTMENT COMPANIES
Investment
Company Act file number 811-99999
Fictitious
Investment Company Trust
(Exact
name of registrant as specified in charter)
100
F St. NE, Washington, DC 20549
(Address
of principal executive offices) (Zip code)
John
Smith, Secretary
100
F St. NE
Washington,
DC 20549
(Name
and address of agent for service)
Registrant's telephone
number, including area code:
|
|
Date of fiscal year end: |
October 31 |
|
|
Date of reporting period: |
April 30, 2032 |
| Item 1. | Reports to Stockholders. |
|
Fictitious Income ETF |
|
Ticker: FAKER |
|
Stock
Exchange: NASDAQ
|
|
Semi-Annual Shareholder Report |
April 30, 2032 |
This
semi-annual
shareholder report contains important information about the Fictitious Income ETF
(“Fund”) for the period of November 1, 2031 to April 30, 2032.
You can
find additional information about the Fund at www.fictitiouscompany.com/faker. You
can also request this information by contacting us at 1-800-555-5555 or by emailing
info@fictitiouscompany.com.
What were
the Fund costs for the last six months? (based on a hypothetical $10,000 investment)
Fund |
Costs of a $10,000 investment* |
Costs paid as a percentage of a $10,000 investment† |
Fictitious Income ETF |
$25 |
0.52% |
†
This charge is annualized.
Fund Performance.
Keep
in mind that the Fund’s past performance is not a good predictor of how the
Fund will perform in the future. The graph and table do not reflect the deduction
of taxes that a shareholder would pay on fund distributions or redemption of fund
shares.

Average Annual
Total Returns
|
1 Year |
5 Years |
Since Inception (5/1/2024) |
Fictitious Income ETF |
-8.93% |
1.71% |
3.91% |
ABC Broad-based Index* (reflects no deduction for fees, expenses, or taxes) |
-7.45% |
1.95% |
2.54% |
QRS Broad-based Index* (reflects no deduction for fees, expenses, or taxes) |
-5.62% |
2.15% |
0.53% |
XYZ Additional Index (reflects no deduction for fees, expenses, or taxes) |
-4.24% |
4.07% |
5.77% |
* As of
2/1/2032, the ABC Broad-based Index replaced the QRS Broad-based Index as the Fund’s
primary benchmark because it is a better reflection of the overall domestic fixed-income
market since it includes a larger universe of investments.
Visit www.fictitiouscompany.com/faker
for more recent performance information.
Premium/Discount
to NAV Summary
Shareholders may
pay more than net asset value (NAV) when they buy Fund shares and receive less than
net asset value when they sell those shares, because shares are bought and sold at
current market prices. The data presented below represents past performance and cannot
be used to predict future results.
|
Number of Days Trading in each Premium/Discount Range |
|
|
Trading at a Premium to NAV |
Trading at a Discount to NAV |
|
|
Facts not required are not tagged. |
|
|
|
Total
Days at Premium |
1.00%
or more |
0.75%
to 0.99% |
0.50%
to 0.74% |
0.25%
to 0.49% |
0.00%
to 0.24% |
-0.01% to
-0.24% |
-0.25%
to
-0.49% |
-0.50%
to
-0.74% |
-0.75%
to
-0.99% |
-1.00%
or more |
Total
Days at Discount |
Fiscal Year 2031 |
168 |
0 |
2 |
3 |
12 |
151 |
60 |
6 |
3 |
1 |
0 |
70 |
First Quarter of Fiscal Year 2032 |
40 |
0 |
1 |
1 |
4 |
34 |
20 |
2 |
1 |
1 |
0 |
24 |
Second Quarter of Fiscal Year 2032 |
38 |
0 |
1 |
2 |
3 |
32 |
22 |
2 |
1 |
0 |
0 |
25 |
Fund
Statistics (for the last six months)
Fund's Net Assets: |
$502 mil. |
Number of Investments: |
342 |
Portfolio Turnover: |
78% |
Average Credit Quality (based on credit ratings provided by UVW Rating Inc.) |
BB+ |
Weighted Average Maturity: |
4.3 years |
Effective Duration |
3.22 |
Average Premium/Discount |
0.04% |
Graphical
Representation of Holdings.
Asset Class
(% of net assets) |
|
|
Credit
Quality*
(%
of net assets) |
|
|
 |
Bank Loans |
52.6% |
|
U.S. Government |
4.8% |
|
Corporate – High Quality |
14.3% |
|
AAA |
3.6% |
|
Corporate – High Yield |
11.4% |
|
AA |
5.8% |
|
Mortgage Backed Securities |
7.1% |
|
A |
16.7% |
|
Treasury |
4.8% |
|
BBB |
20.4% |
|
Asset Backed Securities |
3.3% |
|
BB |
34.9% |
|
Cash |
1.8% |
|
B |
8.1% |
|
Equity |
1.6% |
|
CCC & Below |
3.6% |
|
Other |
3.1% |
|
Unrated |
2.1% |
|
| * | Credit Quality is based on credit ratings provided by UVW Rating Inc., a nationally
recognized statistical rating organization, because the XYZ Advisers (the Fund’s
manager) believes they have the broadest coverage of securities held by the Fund. |
Top Ten Portfolio Holdings (% of net assets) |
|
Security |
Percentage |
|
Security |
Percentage |
XYZ MORTPASS 6% 11/52 |
5.58% |
|
US 10YR NOTE 12/20/2041 |
0.99% |
TBA GNMA SINGLE 5% |
5.46% |
|
DEF BUDGET 4.62% 02/37 |
0.98% |
QRS 4.194% 06/49 |
5.2% |
|
MNO 4.27% 05/39 |
0.95% |
TUV 2.791% 10/51 |
3.17% |
|
HIJ Loan 6.5% 03/39 |
0.92% |
ABC VAR 04/47 |
2.1% |
|
GNMA 2030-100 VAR 05/62 |
0.9% |
Availability
of Additional Information.
Additional information
about the Fund is available at www.fictitiouscompany.com/faker, including its:
· Prospectus |
· Holdings |
· Fund Commentary |
· Financial Information |
· Proxy Voting information |
· Description of UVW Rating Inc.’s credit ratings |
These
tables would normally be hidden; they contain the data points for the images above.
Date |
Fictitious Income ETF |
ABC Broad-based Index |
QRS Broad-based Index |
XYZ Additional Index |
4/30/2024 |
10000 |
10000 |
10000 |
10000 |
4/30/2025 |
11132 |
10299 |
9264 |
11555 |
4/30/2026 |
11212 |
10106 |
9343 |
11411 |
4/30/2027 |
12484 |
11102 |
9375 |
12828 |
4/30/2028 |
12847 |
11466 |
9615 |
13174 |
4/30/2029 |
13678 |
11844 |
9481 |
13969 |
4/30/2030 |
12946 |
10977 |
9412 |
13091 |
4/30/2031 |
14921 |
13211 |
11050 |
16357 |
4/30/2032 |
13588 |
12226 |
10429 |
15663 |
Sector (% of net assets) |
pct |
Technology |
23% |
Consumer Discretionary |
7% |
Industrials |
9% |
Financial Services |
11% |
Consumer Staples |
4% |
Health Care |
12% |
Telecommunications |
9% |
Energy |
13% |
Real Estate |
6% |
Materials |
6% |