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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM N-CSR

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:

999-999-9999

 

 

   
Date of fiscal year end: October 31
   
Date of reporting period: April 30, 2032

 

 
 

 

Item 1. Reports to Stockholders.

 

  Fictitious Income ETF  
     Ticker: FAKE  

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/fake . 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

 

 
 

 

Item 1. Reports to Stockholders.

 

  Fictitious Second Class 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%

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%