XVOL
The Acruence Active Hedge U.S. Equity ETF
Fund Summary
The Acruence Active Hedge U.S. Equity ETF (XVOL) is an actively-managed exchange-traded fund (ETF) that seeks capital appreciation with reduced volatility as compared to a universe of U.S. Large Cap equites.
Acruence invests in companies that pay dividends and companies we believe are positioned for growth. The portfolio is rebalanced to represent what we believe is a strategic blend. Additionally we seek to reduce volatility by purchasing options contracts on the VIX (Cboe Volatility Index). Acruence uses a proprietary, volatility-based algorithm to determine the number of VIX options contracts to purchase, as well as the strike price(s) and expiration date(s) of the options
Fund Information
| Inception Date | 04/21/2021 |
| Ticker | XVOL |
| Primary Exchange | Cboe BZX Exchange, Inc |
| CUSIP | 886364744 |
| Expense Ratio | 0.83% |
*The 30-Day SEC yield is calculated with a standardized formula mandated by the SEC. The formula is based on maximum offering price per share and does not reflect waivers in effect.
Fund Data and Pricing
| Net Assets | $2.35m |
| NAV | $23.46 |
| Shares Outstanding | 100,000 |
| Premium/Discount Percentage | -0.02% |
| Closing Price | $23.46 |
| Median 30 Day Spread* | 0.42% |
30 Day Median Spread is a calculation of Fund’s median bid-ask spread, expressed as a percentage rounded to the nearest hundredth, computed by: identifying the Fund’s national best bid and national best offer as of the end of each 10 second interval during each trading day of the last 30 calendar days; dividing the difference between each such bid and offer by the midpoint of the national best bid and national best offer; and identifying the median of those values.
Performance
Inception Date: 04/21/2021
| Month-End as of March 31, 2024 | Quarter-End as of March 31, 2024 | ||||||||
| MTD | QTD | YTD | Since Inception | QTD | YTD | 1 Year | 3 Year | Since Inception | |
| Market Price | 6.77% | 13.18% | 13.18% | 2.72% | 13.18% | 13.18% | 15.60% | – | 2.72% |
| Fund NAV | 6.46% | 13.14% | 13.14% | 2.67% | 13.14% | 13.14% | 12.96% | – | 2.67% |
| S&P 500 | 3.22% | 10.56% | 10.56% | 9.85% | 10.56% | 10.56% | 29.88% | – | 9.85% |
The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted. Performance current to the most recent month-end can be obtained by calling (833) 653-6400.
Short term performance, in particular, is not a good indication of the fund’s future performance, and an investment should not be made based solely on returns. Returns beyond 1 year are annualized.
A fund’s NAV is the sum of all its assets less any liabilities, divided by the number of shares outstanding. The market price is the most recent price at which the fund was traded.
Performance Returns (Month-End & Quarter-End)
Inception Date: 04/21/2021
The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted. Performance current to the most recent month-end can be obtained by calling (833) 653-6400.
Short term performance, in particular, is not a good indication of the fund’s future performance, and an investment should not be made based solely on returns. Returns beyond 1 year are annualized.
A fund’s NAV is the sum of all its assets less any liabilities, divided by the number of shares outstanding. The market price is the most recent price at which the fund was traded.
Performance Returns (Calendar Year)
|
YTD 2023
Inception Date 04/21/2021 |
||||||||
| Market Price | 6.09% | |||||||
| Fund NAV | 6.25% | |||||||
Performance Returns Calendar Year
|
YTD 2023
Inception Date 04/21/2021 |
||||||||
| Market Price | 6.09% | |||||||
| Fund NAV | 6.25% | |||||||
Distribution Detail
| Fund Name | Ex-Date | Record Date | Payable Date | Amount |
| XVOL | 12/29/2021 | 12/30/2021 | 12/31/2021 | $0.0650 |
| XVOL | 12/23/2022 | 12/27/2022 | 12/28/2022 | $0.4929 |
| XVOL | 12/27/2023 | 12/28/2023 | 12/29/2023 | $0.2000 |
Top 10 Holdings
Holdings subject to change.
| Name | CUSIP | Shares | Price | Market Value | Weightings ▲ |
|---|---|---|---|---|---|
| Royal Caribbean Cruises Ltd | V7780T103 | 146 | $334.05 | $48,771.3 | 2.08% |
| KLA CORP | 482480100 | 34 | $1410.45 | $47,955.3 | 2.04% |
| Newmont Corp | 651639106 | 390 | $112.85 | $44,011.5 | 1.88% |
| NXP Semiconductors NV | N6596X109 | 190 | $231.08 | $43,905.2 | 1.87% |
| Corning Inc | 219350105 | 357 | $110.36 | $39,398.52 | 1.68% |
| Regeneron Pharmaceuticals Inc | 75886F107 | 50 | $755.02 | $37,751.0 | 1.61% |
| Meta Platforms Inc | 30303M102 | 53 | $706.41 | $37,439.73 | 1.60% |
| Eli Lilly & Co | 532457108 | 36 | $1044.13 | $37,588.68 | 1.60% |
| Uber Technologies Inc | 90353T100 | 455 | $80.84 | $36,782.2 | 1.57% |
| Keysight Technologies Inc | 49338L103 | 164 | $223.26 | $36,614.64 | 1.56% |
| IDEXX Laboratories Inc | 45168D104 | 57 | $639.6 | $36,457.2 | 1.55% |
| eBay Inc | 278642103 | 383 | $93.78 | $35,917.74 | 1.53% |
| IQVIA Holdings Inc | 46266C105 | 154 | $231.23 | $35,609.42 | 1.52% |
| Cadence Design Systems Inc | 127387108 | 123 | $289.19 | $35,570.37 | 1.52% |
| Targa Resources Corp | 87612G101 | 179 | $198.67 | $35,561.93 | 1.52% |
| Vertex Pharmaceuticals Inc | 92532F100 | 75 | $472.01 | $35,400.75 | 1.51% |
| Caterpillar Inc | 149123101 | 51 | $690.91 | $35,236.41 | 1.50% |
| Amphenol Corp | 032095101 | 243 | $144.93 | $35,217.99 | 1.50% |
| Amazon.com Inc | 023135106 | 143 | $242.96 | $34,743.28 | 1.48% |
| Airbnb Inc | 009066101 | 259 | $131.31 | $34,009.29 | 1.45% |
| Rockwell Automation Inc | 773903109 | 78 | $429.15 | $33,473.7 | 1.43% |
| Alphabet Inc | 02079K305 | 97 | $343.69 | $33,337.93 | 1.42% |
| Alphabet Inc | 02079K107 | 96 | $344.9 | $33,110.4 | 1.41% |
| Cummins Inc | 231021106 | 55 | $595.13 | $32,732.15 | 1.40% |
| Palo Alto Networks Inc | 697435105 | 187 | $175.42 | $32,803.54 | 1.40% |
| Howmet Aerospace Inc | 443201108 | 157 | $207.21 | $32,531.97 | 1.39% |
| Parker-Hannifin Corp | 701094104 | 34 | $952.0 | $32,368.0 | 1.38% |
| QUALCOMM Inc | 747525103 | 211 | $152.62 | $32,202.82 | 1.37% |
| United Rentals Inc | 911363109 | 41 | $778.98 | $31,938.18 | 1.36% |
| GE HealthCare Technologies Inc | 36266G107 | 393 | $80.11 | $31,483.23 | 1.34% |
| Las Vegas Sands Corp | 517834107 | 557 | $55.64 | $30,991.48 | 1.32% |
| Deere & Co | 244199105 | 57 | $532.25 | $30,338.25 | 1.29% |
| Gilead Sciences Inc | 375558103 | 209 | $142.89 | $29,864.01 | 1.27% |
| CRH PLC | G25508105 | 237 | $124.6 | $29,530.2 | 1.26% |
| Bristol-Myers Squibb Co | 110122108 | 527 | $55.89 | $29,454.03 | 1.26% |
| International Business Machines Corp | 459200101 | 94 | $314.73 | $29,584.62 | 1.26% |
| Hershey Co/The | 427866108 | 148 | $198.01 | $29,305.48 | 1.25% |
| GE AEROSPACE | 369604301 | 95 | $308.71 | $29,327.45 | 1.25% |
| Netflix Inc | 64110L106 | 348 | $82.76 | $28,800.48 | 1.23% |
| Intuitive Surgical Inc | 46120E602 | 58 | $496.73 | $28,810.34 | 1.23% |
| Merck & Co Inc | 58933Y105 | 253 | $113.37 | $28,682.61 | 1.22% |
| Apple Inc | 037833100 | 106 | $270.01 | $28,621.06 | 1.22% |
| Electronic Arts Inc | 285512109 | 141 | $203.6 | $28,707.6 | 1.22% |
| Agilent Technologies Inc | 00846U101 | 209 | $135.39 | $28,296.51 | 1.21% |
| Johnson Controls International plc | G51502105 | 230 | $122.98 | $28,285.4 | 1.21% |
| Trane Technologies PLC | G8994E103 | 66 | $425.09 | $28,055.94 | 1.20% |
| Amgen Inc | 031162100 | 81 | $344.68 | $27,919.08 | 1.19% |
| Thermo Fisher Scientific Inc | 883556102 | 48 | $581.77 | $27,924.96 | 1.19% |
| ResMed Inc | 761152107 | 109 | $254.74 | $27,766.66 | 1.18% |
| NextEra Energy Inc | 65339F101 | 319 | $86.33 | $27,539.27 | 1.17% |
| Williams Cos Inc/The | 969457100 | 413 | $66.34 | $27,398.42 | 1.17% |
| TE Connectivity PLC | G87052109 | 120 | $227.13 | $27,255.6 | 1.16% |
| Fastenal Co | 311900104 | 587 | $44.8 | $26,297.6 | 1.12% |
| Monster Beverage Corp | 61174X109 | 322 | $81.1 | $26,114.2 | 1.11% |
| Ross Stores Inc | 778296103 | 137 | $190.11 | $26,045.07 | 1.11% |
| 3M Co | 88579Y101 | 166 | $153.43 | $25,469.38 | 1.09% |
| Vulcan Materials Co | 929160109 | 81 | $305.92 | $24,779.52 | 1.06% |
| Cognizant Technology Solutions Corp | 192446102 | 294 | $82.91 | $24,375.54 | 1.04% |
| Cintas Corp | 172908105 | 125 | $190.91 | $23,863.75 | 1.02% |
| AMETEK Inc | 031100100 | 104 | $227.72 | $23,682.88 | 1.01% |
| Autodesk Inc | 052769106 | 92 | $255.57 | $23,512.44 | 1.00% |
| Martin Marietta Materials Inc | 573284106 | 36 | $654.33 | $23,555.88 | 1.00% |
| Cisco Systems Inc | 17275R102 | 289 | $80.64 | $23,304.96 | 0.99% |
| Intuit Inc | 461202103 | 47 | $487.12 | $22,894.64 | 0.98% |
| Edwards Lifesciences Corp | 28176E108 | 279 | $82.65 | $23,059.35 | 0.98% |
| AT&T Inc | 00206R102 | 865 | $26.3 | $22,749.5 | 0.97% |
| Verizon Communications Inc | 92343V104 | 510 | $44.61 | $22,751.1 | 0.97% |
| S&P Global Inc | 78409V104 | 42 | $527.66 | $22,161.72 | 0.94% |
| Boston Scientific Corp | 101137107 | 226 | $91.87 | $20,762.62 | 0.88% |
| Ecolab Inc | 278865100 | 72 | $283.65 | $20,422.8 | 0.87% |
| Microsoft Corp | 594918104 | 48 | $423.37 | $20,321.76 | 0.87% |
| Johnson & Johnson | 478160104 | 86 | $230.75 | $19,844.5 | 0.85% |
| American Electric Power Co Inc | 025537101 | 159 | $118.33 | $18,814.47 | 0.80% |
| Linde PLC | G54950103 | 41 | $460.16 | $18,866.56 | 0.80% |
| Waste Management Inc | 94106L109 | 82 | $223.16 | $18,299.12 | 0.78% |
| Republic Services Inc | 760759100 | 83 | $215.73 | $17,905.59 | 0.76% |
| Abbott Laboratories | 002824100 | 163 | $109.41 | $17,833.83 | 0.76% |
| Coca-Cola Co/The | 191216100 | 233 | $75.33 | $17,551.89 | 0.75% |
| TJX Cos Inc/The | 872540109 | 115 | $150.17 | $17,269.55 | 0.74% |
| Southern Co/The | 842587107 | 189 | $88.19 | $16,667.91 | 0.71% |
| First American Government Obligations Fund 12/01/2031 | 31846V336 | 11,173 | $100.0 | $11,173.23 | 0.48% |
| VIX US 02/18/26 C37 | VIX 260218C00037000 | 184 | $0.25 | $4,600.0 | 0.20% |
| Cash & Other | Cash&Other | -1,197 | $1.0 | $-1,197.47 | -0.05% |
How to Purchase our ETF
The Acruence Active Hedge U.S. Equity ETF (XVOL) is available through various channels including via phone (833) 653-6400, broker-dealers, investment advisers, and other financial services firms, including:
The Fund is not affiliated with these financial service firms. Their listing should not be viewed as a recommendation or endorsement.
In the News
Exchange Traded Funds (ETFs) are bought and sold through exchange trading at market price (not NAV), and are not individually redeemed from the fund. Shares may trade at a premium or discount to their NAV in the secondary market. Brokerage commissions will reduce returns. Investments involve risk including the possible loss of principal. There is no guarantee the investment objective will be successful.
Options can be volatile and have a large impact on the performance of the Fund. There is a risk of loss of all or part of the cash paid (premium) for purchasing options and the value of the option may be lost if not exercised at or prior to expiration. One of the primary drivers of the value of a VIX Option is movement in the spot value of the VIX Index, which is a measure of implied volatility of S&P 500 options. Therefore, changing market expectations of future volatility will lead to changes in the market value of VIX Options. Because implied volatilities often rise during periods of market stress, the VIX Index is often negatively correlated to equity markets.
The Fund may actively and frequently trade all or a significant portion of the securities in its portfolio which may increase the Fund’s expenses and also cause adverse tax consequences. The Fund is actively-managed and may not meet its investment objective based on the Sub-Adviser’s success or failure to implement investment strategies for the Fund.The fund is classified as non-diversified. Because it is non-diversified, it may hold large positions in a small number of securities. To the extent it maintains such positions; a price change in any one of those securities may have a greater impact on the fund’s share price than if it were diversified. The Fund is a recently organized management investment company with no operating history.
The S&P 500® Index is composed of 500 selected common stocks most of which are listed on the New York Stock Exchange. It is not an investment product available for purchase. The Chicago Board Options Exchange (“CBOE”) Volatility Index (The “VIX” Index) estimates the expected level of volatility in the U.S. stock market, as reflected by the S&P 500, forward-looking over 30 days. It is not possible to invest directly in an Index.
You should consider the fund’s investment objectives, risks, and charges and expenses carefully before you invest. The fund’s prospectus or summary prospectus, which can be obtained by calling 1-833-653-6400, contains this and other information about the fund, and should be read carefully before investing.
The fund is distributed by Foreside Fund Services, LLC.
8111 Preston Rd. Suite 500
Dallas, TX 75225
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Advisory services offered through Acruence Capital, LLC, Registered Investment Adviser
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