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Name

As of 06/01/2026

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Castellan Targeted Equity ETF

CTEF | ETF

$85.61

$532 M

0.06%

$0.05

0.45%

Vitals

YTD Return

28.2%

1 yr return

N/A

3 Yr Avg Return

N/A

5 Yr Avg Return

N/A

Net Assets

$532 M

Holdings in Top 10

53.9%

52 WEEK LOW AND HIGH

$85.0
$50.05
$85.61

Expenses

OPERATING FEES

Expense Ratio 0.45%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A

Min Investment

Standard (Taxable)

N/A

IRA

N/A

Fund Classification

Fund Type

Exchange Traded Fund

Name

As of 06/01/2026

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Castellan Targeted Equity ETF

CTEF | ETF

$85.61

$532 M

0.06%

$0.05

0.45%

CTEF - Profile

Distributions

  • YTD Total Return 28.2%
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio N/A
DIVIDENDS
  • Dividend Yield 0.1%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    Castellan Targeted Equity ETF
  • Fund Family Name
    N/A
  • Inception Date
    Jun 18, 2025
  • Shares Outstanding
    N/A
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US

Fund Description

The Fund is an actively managed exchange-traded fund (“ETF”) that seeks to provide capital appreciation by investing in a select group of equity securities. The central premise of the Fund’s investment style is “growth at a reasonable price” or “GARP.” The Fund’s portfolio will consist of an equity sleeve and an options sleeve, which are each described below. Castellan Group, LLC (“Castellan”), serves as a sub-adviser to the Fund and is responsible for determining the Fund’s investments. Castellan has developed a proprietary methodology for selecting investments that blends both quantitative and qualitative analysis.
Under normal circumstances, at least 80% of the Fund’ net assets (plus the amount of any borrowings for investment purposes) will be invested in equity securities and derivatives based on those securities. The Fund defines “equity securities” to mean common and preferred stocks, rights, warrants, and depositary receipts. For purposes of determining compliance with the Fund’s 80% investment policy, derivatives generally will be valued based on their notional value.
Equity Sleeve
In selecting equity securities for the Fund, Castellan will first apply a rules-based quantitative screening process that scores U.S.-listed stocks and American Depositary Receipts (ADRs) based on a variety of factors, including but not limited to, a company’s profitability metrics (e.g., gross margin, operating margin, return on investment, and debt-to-equity ratio), market capitalization, analyst coverage (i.e., what are the analysts saying about the company), recent price momentum, and earnings estimates to establish a score for each company. Companies that score well relative to these factors are considered “buy” candidates. “Buy” candidates may include small-, mid-, and large-capitalization companies.
Castellan next reviews each “buy” candidate to screen out any companies that may be facing company and/or industry specific headwinds, such as, but not limited to, an upcoming corporate action (e.g., merger or acquisition), a pending change in its management team, or an accounting or regulatory issue. Castellan’s qualitative review process is designed to identify issues that may not be captured by the quantitative process. By looking for these types of issues, Castellan is attempting to identify and avoid investing in potential “value traps”. A value trap is defined as a company that is considered inexpensive based on current valuation
multiples but is likely to have poor price performance over the subsequent year. At the end of this process, Castellan expects to invest the Fund’s assets in the equity securities of up to 50 companies.
Options Sleeve
Castellan, with the assistance of the Fund’s other sub-adviser, Arin Risk Advisors, LLC (“Arin”), will manage the Fund’s Options Sleeve. The Fund may elect to buy and/or sell options on equity securities for a number of purposes, including hedging, investment exposure, or speculative purposes. An options contract is an agreement between a buyer and seller that gives the purchaser of the option the right to buy (in the case of a call option), or to sell (in the case of a put option), a particular asset at an agreed upon price (commonly known as the “strike price”) at a specified future date. The Fund’s option trading will generally involve buying call options and/or selling (writing) put options or combinations of options. Buying call options provides the Fund with the right, but not the obligation, to buy the underlying security at a specified price, while selling (writing) put options will generate premium income for the Fund and require the Fund to buy the stock at predetermined price.
For example, based on instructions from Castellan, Arin may buy call options on a stock that Castellan is bullish about. When buying a call option on a stock, Castellan is looking to increase (leverage) the Fund’s exposure to the stock without actually buying the stock. If the stock increases in value above the call option strike price, Castellan may elect to exercise the option and buy the shares at the strike price. Castellan also may elect to sell (write) put options on a stock when it is seeking to own the stock. For example, when a “buy” candidate is selling at a price above what Castellan is willing to pay it may elect to sell a put option on the stock at a (lower) price it is willing to pay. If the stock decreases in value below the strike price, Castellan may elect to exercise the option and buy the shares at the strike price.
General Portfolio Information
The Fund is considered to be non-diversified, which means that it may invest more of its assets in the securities of a single issuer or a smaller number of issuers than if it were a diversified fund. The Fund will sell, reduce, or close positions according to changes in Castellan’s investment analysis. In addition, Castellan will actively monitor the Fund’s sector diversification, looking to maintain no more than 20% of the Fund’s assets in any one sector.
Read More

CTEF - Performance

Return Ranking - Trailing

Period CTEF Return Category Return Low Category Return High Rank in Category (%)
YTD 28.2% N/A N/A N/A
1 Yr N/A N/A N/A N/A
3 Yr N/A* N/A N/A N/A
5 Yr N/A* N/A N/A N/A
10 Yr N/A* N/A N/A N/A

* Annualized

Return Ranking - Calendar

Period CTEF Return Category Return Low Category Return High Rank in Category (%)
2025 N/A N/A N/A N/A
2024 N/A N/A N/A N/A
2023 N/A N/A N/A N/A
2022 N/A N/A N/A N/A
2021 N/A N/A N/A N/A

Total Return Ranking - Trailing

Period CTEF Return Category Return Low Category Return High Rank in Category (%)
YTD 28.2% N/A N/A N/A
1 Yr N/A N/A N/A N/A
3 Yr N/A* N/A N/A N/A
5 Yr N/A* N/A N/A N/A
10 Yr N/A* N/A N/A N/A

* Annualized

Total Return Ranking - Calendar

Period CTEF Return Category Return Low Category Return High Rank in Category (%)
2025 N/A N/A N/A N/A
2024 N/A N/A N/A N/A
2023 N/A N/A N/A N/A
2022 N/A N/A N/A N/A
2021 N/A N/A N/A N/A

CTEF - Holdings

Concentration Analysis

CTEF Category Low Category High CTEF % Rank
Net Assets 532 M N/A N/A N/A
Number of Holdings 32 N/A N/A N/A
Net Assets in Top 10 283 M N/A N/A N/A
Weighting of Top 10 53.89% N/A N/A N/A

Top 10 Holdings

  1. Micron Technology Inc 6.90%
  2. Lam Research Corp 6.04%
  3. Deckers Outdoor Corp 5.43%
  4. Modine Manufacturing Co 5.39%
  5. Comfort Systems USA Inc 5.38%
  6. Tapestry Inc 5.25%
  7. Jabil Inc 5.21%
  8. Tenet Healthcare Corp 5.05%
  9. Western Digital Corp 4.63%
  10. McKesson Corp 4.61%

Asset Allocation

Weighting Return Low Return High CTEF % Rank
Stocks 		98.05% N/A N/A N/A
Cash 		2.14% N/A N/A N/A
Preferred Stocks 		0.00% N/A N/A N/A
Convertible Bonds 		0.00% N/A N/A N/A
Bonds 		0.00% N/A N/A N/A
Other 		-0.19% N/A N/A N/A

Stock Sector Breakdown

Weighting Return Low Return High CTEF % Rank
Utilities 		0.00% N/A N/A N/A
Technology 		0.00% N/A N/A N/A
Real Estate 		0.00% N/A N/A N/A
Industrials 		0.00% N/A N/A N/A
Healthcare 		0.00% N/A N/A N/A
Financial Services 		0.00% N/A N/A N/A
Energy 		0.00% N/A N/A N/A
Communication Services 		0.00% N/A N/A N/A
Consumer Defense 		0.00% N/A N/A N/A
Consumer Cyclical 		0.00% N/A N/A N/A
Basic Materials 		0.00% N/A N/A N/A

Stock Geographic Breakdown

Weighting Return Low Return High CTEF % Rank
US 		98.05% N/A N/A N/A
Non US 		0.00% N/A N/A N/A

CTEF - Expenses

Operational Fees

CTEF Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.45% N/A N/A N/A
Management Fee 0.45% N/A N/A N/A
12b-1 Fee N/A N/A N/A N/A
Administrative Fee N/A N/A N/A N/A

Sales Fees

CTEF Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A N/A N/A N/A
Deferred Load N/A N/A N/A N/A

Trading Fees

CTEF Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A N/A N/A N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

CTEF Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A N/A N/A N/A

CTEF - Distributions

Dividend Yield Analysis

CTEF Category Low Category High CTEF % Rank
Dividend Yield 0.06% N/A N/A N/A

Dividend Distribution Analysis

CTEF Category Low Category High Category Mod
Dividend Distribution Frequency Annual

Net Income Ratio Analysis

CTEF Category Low Category High CTEF % Rank
Net Income Ratio N/A N/A N/A N/A

Capital Gain Distribution Analysis

CTEF Category Low Category High Capital Mode
Capital Gain Distribution Frequency

Distributions History

View More +

CTEF - Fund Manager Analysis

Tenure Analysis

Category Low Category High Category Average Category Mode
N/A N/A N/A N/A

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