SANE Mental Health ETF
The Subversive Mental Health ETF (Ticker: SANE) is an actively managed fund that seeks to achieve its investment objective of long term capital appreciation by investing in a portfolio of publicly listed equity securities of companies that intersect at least one area of mental health, including, but not limited to, metabolic devices, fitness, sleep, nutrition, and the companies that invest in such companies.
We aim to also identify mental health companies working on new tools, treatments, and medications designed to help address the global toll of untreated or ongoing mental health issues, including major depressive disorder (“MDD”). Under normal market conditions, the Fund will invest at least 80% of its net assets (plus any borrowings for investment purposes) in securities of mental health companies.
In selecting investments for the Fund, we will apply a top-down approach, utilizing primarily quantitative factors, focusing on mental health companies that are cash flow positive. However, we may also consider qualitative factors with a view toward growth and earning potential. In the selection process, we will give greater weight to mental health companies whose primary business models and growth prospects are dedicated to mental health and fitness.
When determining the companies eligible to be considered mental health companies, we also take into consideration that metabolic health is mental health. Metabolic disorders are estimated to impact as much as 40% of the American population, with similar trends appearing globally. Accordingly, SANE intends to invest in companies that promote and intersect metabolic health.
In addition, we will include in the universe of mental health companies those companies that provide mental health solutions, from devices to pharmaceuticals. We will consider for inclusion in the Fund’s portfolio companies that provide lower cost or small-scale solutions from medical devices to software applications, as well as large-scale pharmaceutical interventions aimed at addressing depression and pain
management, and long-term solutions to both.
|FUND DATA & PRICING|
|Net Assets as of 02/07/2023||$618,788.60|
|Median 30 Day Spread||$24.77|
Data as of 02/07/2023
IOPV, or Indicative Optimized Portfolio Value, is a calculation disseminated by the stock exchange that approximates the Fund’s NAV every fifteen seconds throughout the trading day.
Median 30 Day 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||As of 01/31/2023|
|QUARTER||1 YEAR||3 YEAR||SINCE INCEPTION 12/23/2022|
Expense ratio: 0.75%
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 (877-291-4040 ).
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.
Market Price: The current price at which shares are bought and sold. Market returns are based upon the last trade price.
NAV: The dollar value of a single share, based on the value of the underlying assets of the fund minus its liabilities, divided by the number of shares outstanding. Calculated at the end of each business day.
|EX-DATE||RECORD DATE||1 YEAR||PAYABLE DATE|
|TOP 10 HOLDINGS|
|% OF NET ASSETS||NAME||TICKER||CUSIP||SHARES HELD||MARKET VALUE|
|4.80%||MERCK & CO INC||MRK||58933Y105||281||29,696.08|
|4.17%||LILLY ELI & CO||LLY||532457108||76||25,815.68|
|4.09%||BRISTOL-MYERS SQUIBB CO||BMY||110122108||340||25,336.80|
|3.92%||JAZZ PHARMACEUTICALS PLC||JAZZ||G50871105||157||24,258.07|
Data as of 02/08/2023. Holdings are subject to change.