Product Details
The Fund is an actively managed exchange-traded fund (“ETF”) that seeks to achieve its investment objective through exposure to the top companies in the Nasdaq-100 Index (the “Nasdaq-100”), as represented in the Nasdaq-100 Mega Index (the “Index”). The Nasdaq-100 consists of securities of 100 of the largest domestic and international non-financial companies listed on The Nasdaq Stock Market LLC based on market capitalization. The Index is a subset of the Nasdaq-100, comprising approximately the top 45% by weight of Nasdaq-100 companies, but not exceeding 47%. The Fund seeks to track the performance of those companies.
Performance
Index History (%) | YTD | 1Yr | 3Yr | 5Yr | 10Yr | Since Inception |
---|---|---|---|---|---|---|
Nasdaq-100 Mega Gross Return Index (USD) | -0.55 | N/A | N/A | N/A | N/A | 2.48 |
NASDAQ Composite Total Return Index (USD) | 1.66 | 30.37 | 12.18 | 17.41 | 16.64 | -0.46 |
Fund History (%) | ||||||
Fund NAV | -0.63 | N/A | N/A | N/A | N/A | 2.31 |
After Tax Held | -0.63 | N/A | N/A | N/A | N/A | 2.31 |
After Tax Sold | -0.37 | N/A | N/A | N/A | N/A | 1.37 |
Fund Market Price | -0.54 | N/A | N/A | N/A | N/A | 2.34 |
Index History (%) | YTD | 1Yr | 3Yr | 5Yr | 10Yr | Since Inception |
---|---|---|---|---|---|---|
Nasdaq-100 Mega Gross Return Index (USD) | N/A | N/A | N/A | N/A | N/A | 3.05 |
NASDAQ Composite Total Return Index (USD) | 29.57 | 29.57 | 8.13 | 17.49 | 16.20 | -2.09 |
Fund History (%) | ||||||
Fund NAV | N/A | N/A | N/A | N/A | N/A | 2.96 |
After Tax Held | N/A | N/A | N/A | N/A | N/A | 2.96 |
After Tax Sold | N/A | N/A | N/A | N/A | N/A | 1.75 |
Fund Market Price | N/A | N/A | N/A | N/A | N/A | 2.90 |
Market returns are based on the midpoint of the bid/ask spread at 4 p.m. ET and do not represent the returns an investor would receive if shares were traded at other times. Performance data quoted represents past performance, which is not a guarantee of future results. Investment returns and principal value will fluctuate, and shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than performance data quoted. After-tax returns reflect the highest federal income tax rate but exclude state and local taxes. Fund performance reflects applicable fee waivers, absent which, performance data quoted would have been lower. After Tax Held and After Tax Sold are based on NAV. Returns less than one year are cumulative.
An investor cannot invest directly in an index. The results assume that no cash was added to or assets withdrawn from the Index. Index returns do not represent Fund returns. The Index does not charge management fees or brokerage expenses, nor does the Index lend securities, and no revenues from securities lending were added to the performance shown.
This is a new Fund and has no full-year Fund performance to report as of most recent quarter end.
Market Cap & Style Allocations
Large-Cap Value | - |
Large-Cap Blend | 67.28% |
Large-Cap Growth | 32.72% |
Mid-Cap Value | - |
Mid-Cap Blend | - |
Mid-Cap Growth | - |
Small-Cap Value | - |
Small-Cap Blend | - |
Small-Cap Growth | - |
as of 02/07/2025 Top Holdings | View All
Fund Holdings subject to change
Ticker | Company | % of Fund |
---|---|---|
AGPXX | Invesco Government & Agency Portfolio | 51.41 |
AAPL | Apple Inc | 9.04 |
NVDA | NVIDIA Corp | 8.36 |
MSFT | Microsoft Corp | 8.01 |
AMZN | Amazon.com Inc | 6.34 |
AVGO | Broadcom Inc | 4.57 |
META | Meta Platforms Inc | 4.10 |
TSLA | Tesla Inc | 3.45 |
GOOGL | Alphabet Inc | 2.85 |
GOOG | Alphabet Inc | 2.72 |
Frequency Distribution of Discounts & Premiums
Bid/Ask MidPoint Above NAV | |||||||
---|---|---|---|---|---|---|---|
Quarter Ending |
Days | 0.00- 0.25% |
0.26- 0.50% |
0.51- 0.99% |
1.00- 1.49% |
1.50- 1.99% |
≥2.00% |
12/31/2024 | 19 | 9 | 0 | 1 | 0 | 0 | 0 |
Year Ended 2024 | 19 | 9 | 0 | 1 | 0 | 0 | 0 |
Bid/Ask Midpoint Below NAV | |||||||
---|---|---|---|---|---|---|---|
Quarter Ending |
Days | 0.00- 0.25% |
0.26- 0.50% |
0.51- 0.99% |
1.00- 1.49% |
1.50- 1.99% |
≥2.00% |
12/31/2024 | 19 | 9 | 0 | 0 | 0 | 0 | 0 |
Year Ended 2024 | 19 | 9 | 0 | 0 | 0 | 0 | 0 |
Fund Inception : 12/04/2024
Shareholders may pay more than net asset value 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. Performance data quoted represents past performance, which is not a guarantee of future results.
Shareholders may pay more than net asset value 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. Performance data quoted represents past performance, which is not a guarantee of future results.
Fund Documents
Risk & Other Information
There are risks involved with investing in ETFs, including possible loss of money. Actively managed ETFs do not necessarily seek to replicate the performance of a specified index. Actively managed ETFs are subject to risks similar to stocks, including those related to short selling and margin maintenance. Ordinary brokerage commissions apply. The Fund's return may not match the return of the Index. The Fund is subject to certain other risks. Please see the current prospectus for more information regarding the risk associated with an investment in the Fund.
Market Risk. Securities held by the Fund are subject to market fluctuations. You should anticipate that the value of the Shares will decline, more or less, in correlation with any decline in value of the securities in the Fund’s portfolio. Additionally, natural or environmental disasters, widespread disease or other public health issues, war, military conflicts, acts of terrorism, economic crises or other events could result in increased premiums or discounts to the Fund’s net asset value (“NAV”).
Management Risk. The Fund is subject to management risk because a portion of its assets are actively managed. In managing certain of the Fund’s investment sleeves and other portfolio holdings, the Adviser applies investment techniques and risk analyses in making investment and asset allocation decisions for the Fund, but there can be no guarantee that these actions will produce the desired results.
Index Risk. While a portion of the Fund’s portfolio is actively managed, another portion of the Fund’s portfolio is designed to track the performance of the Index. In managing this portion of the Fund’s portfolio, the portfolio managers will not generally buy or sell a security unless that security is added or removed, respectively, from the Index, regardless of the performance of that security. If a specific security is removed from the Index, the Fund may be forced to sell such security at an inopportune time or for a price lower than the security’s current market value. The Index may not contain the appropriate mix of securities for any particular economic cycle.
Equity Risk. In general, equity values fluctuate, sometimes widely, in response to activities specific to the company as well as general market, economic and political conditions.
Swap Agreements Risk. Swaps involve greater risks than direct investments. Swaps are subject to leveraging, liquidity and counterparty risks, and therefore may be difficult to value. Adverse changes in the value or level of the swap can result in gains or losses that are substantially greater than invested, with the potential for unlimited loss.
Industry Concentration Risk. Investments focused in a particular industry are subject to greater risk, and are more greatly impacted by market volatility, than more diversified investments.
Technology Industry Risk. Investments focused in a particular sector, such as technology, are subject to greater risk, and are more greatly impacted by market volatility, than more diversified investments.
Derivatives Risk. Derivatives may be more volatile and less liquid than traditional investments and are subject to market, interest rate, credit, leverage, counterparty and management risks. An investment in a derivative could lose more than the cash amount invested.
Futures Contracts Risk. Risks of futures contracts include: an imperfect correlation between the value of the futures contract and the underlying commodity; possible lack of a liquid secondary market; inability to close a futures contract when desired; losses due to unanticipated market movements; obligation for the Fund to make daily cash payments to maintain its required margin; failure to close a position may result in the Fund receiving an illiquid commodity; and unfavorable execution prices.
Counterparty Risk. Counterparty risk is the risk that the other party to the contract will not fulfill its contractual obligations, which may cause losses or additional costs.
Leverage Risk. Leverage created from borrowing or certain types of transactions or instruments may impair the fund’s liquidity, cause it to liquidate positions at an unfavorable time or lose more than it invested, increase volatility or otherwise not achieve its intended objective.
Cash/Cash Equivalent Risk. To the extent the Fund holds cash or cash equivalents rather than securities or other instruments in which it primarily invests, the Fund risks losing opportunities to participate in market appreciation and may experience potentially lower returns.
Collateral Securities Risk. Collateral may include obligations issued or guaranteed by the U.S. government, its agencies and instrumentalities, including bills, notes and bonds issued by the U.S. Treasury, money market funds and corporate debt securities, such as commercial paper. Although the Fund may hold securities that carry U.S. government guarantees, these guarantees do not extend to shares of the Fund. Money market funds are subject to management fees and other expenses. Therefore, investments in money market funds will cause the Fund to bear indirectly a proportional share of the fees and costs of the money market funds in which it invests. At the same time, the Fund will continue to pay its own management fees and expenses with respect to all of its assets, including any portion invested in the shares of the money market fund. It is possible to lose money by investing in money market funds. Corporate debt securities such as commercial paper generally are short-term unsecured promissory notes issued by businesses. Corporate debt may be rated investment-grade or below investment-grade and may carry variable, or floating, rates of interest. Corporate debt securities carry both credit risk and interest rate risk. Credit risk is the risk that the Fund could lose money if the issuer of a corporate debt security is unable to pay interest or repay principal when it is due. Some corporate debt securities that are rated below investment-grade generally are considered speculative because they present a greater risk of loss, including default, than higher quality debt securities.
U.S. Government Obligations Risk. Obligations issued by US Government agencies and instrumentalities may receive varying levels of support from the government, which could affect the fund’s ability to recover should they default.
Interest Rate Risk. Interest rate risk refers to the risk that bond prices generally fall as interest rates rise and vice versa.
Portfolio Size Risk. The Fund typically will hold a small number of positions. To the extent that a significant portion of the Fund’s total assets is invested in a limited number of holdings, the appreciation or depreciation of any one position may have a greater impact on the Fund’s NAV than it would if the Fund held a greater number of constituents.
Non-Diversified Fund Risk. The Fund is non-diversified and may experience greater volatility than a more diversified investment.
ADR Risk. American Depository Receipts (ADRs) may be subject to certain of the risks associated with direct investments in the securities of foreign companies. ADRs may not track the price of the underlying securities on which they are based, and their value may change materially at times when U.S. markets are not open for trading.
Issuer-Specific Changes Risk. The value of an individual security or particular type of security may be more volatile than the market as a whole and may perform differently from the value of the market as a whole.
Cash Transaction Risk. The Fund currently intends to effect creations and redemptions principally for cash, rather than principally in-kind because of the nature of the Fund's investments. As such, investments in the Fund may be less tax efficient than investments in ETFs that create and redeem in-kind.
Market Trading Risk. The Fund is subject to numerous market trading risks, including the potential lack of an active market, losses from trading in secondary markets, and disruption in the creation/redemption process. During stressed market conditions, Shares may become less liquid as result of deteriorating liquidity which could lead to differences in the market price and the underlying value of those Shares.
Tax Risk. To qualify as a regulated investment company (“RIC”), the Fund must meet a qualifying income test each taxable year. Failure to comply with the test would have significant negative tax consequences for shareholders. The Fund believes that income from futures should be treated as qualifying income for purposes of this test, thus qualifying the Fund as a RIC. If the IRS were to determine that the Fund’s income is derived from the futures did not constitute qualifying income, the Fund likely would be required to reduce its exposure to such investments in order to maintain its RIC status.