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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

Relative Sentiment Tactical Allocation ETF

MOOD | Active ETF

$44.06

$116 M

0.35%

$0.15

0.73%

Vitals

YTD Return

14.7%

1 yr return

36.4%

3 Yr Avg Return

20.7%

5 Yr Avg Return

N/A

Net Assets

$116 M

Holdings in Top 10

91.2%

52 WEEK LOW AND HIGH

$44.0
$32.39
$44.23

Expenses

OPERATING FEES

Expense Ratio 0.73%

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

Relative Sentiment Tactical Allocation ETF

MOOD | Active ETF

$44.06

$116 M

0.35%

$0.15

0.73%

MOOD - Profile

Distributions

  • YTD Total Return 14.7%
  • 3 Yr Annualized Total Return 20.7%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio N/A
DIVIDENDS
  • Dividend Yield 0.4%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    Relative Sentiment Tactical Allocation ETF
  • Fund Family Name
    N/A
  • Inception Date
    May 18, 2022
  • Shares Outstanding
    N/A
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Raymond Micaletti

Fund Description

The Fund is an actively managed ETF that seeks capital appreciation by tactically allocating its assets among other ETFs and exchange-traded products (“ETPs”) that provide exposure to equities, fixed income, commodities (including gold), and currencies. The Fund’s allocations are driven by the Sub-Adviser’s assessment of “relative sentiment,” which reflects how institutional investors are positioned compared to retail investors, based on a combination of public and third-party data.
In the Sub-Adviser’s view, increasing relative sentiment for a particular asset class suggests that institutional investors have become more bullish on that asset class than retail investors, while decreasing relative sentiment suggests the opposite. The Sub-Adviser generally allocates the Fund’s portfolio among broad U.S. and foreign equity ETFs, bond ETFs, and, at times, commodity or currency ETPs based on this analysis. In general, asset classes more strongly favored by institutional investors relative to retail investors receive higher allocations, while less favored asset classes receive lower allocations.
The Fund’s equity allocation is determined using multiple sentiment-based indicators, which are combined to produce an overall target allocation. These indicators incorporate information such as investor positioning, survey data, relationships across asset classes, and retail investor sentiment related to macroeconomic conditions. Together, these indicators determine the Fund’s overall allocation to equities and are then used to allocate across U.S. and non-U.S. equities, geographic regions, market capitalizations (e.g., large-cap vs. small-cap), and other factors.
For the Fund’s non-equity investments, the Sub-Adviser uses relative sentiment models (referred to as “signals”) for asset classes such as the U.S. dollar, bonds, broad commodities, and precious metals. The Fund will generally invest in these asset classes only when the models indicate positive (bullish) relative sentiment. The size of each allocation is primarily based on (1) the signal’s historical performance (including measures of return and risk) and (2) the expected duration of the signal. Signals with stronger historical performance and longer expected duration will generally receive larger allocations than those with weaker performance or shorter expected duration, all else being equal.
The Fund’s allocation to fixed income ETFs focuses on high-quality bonds and Treasury Inflation-Protected Securities (“TIPS”). The Sub-Adviser may adjust interest rate exposure by investing in ETFs with varying durations. The Fund may also allocate a portion of its assets to commodities (including gold), currencies, and sector-specific equity ETFs to enhance diversification or respond to market conditions. The Fund’s exposure to commodities (including gold) is generally limited to approximately 20% of its total assets.
In addition, the Fund may invest in passively or actively managed ETFs (including ETFs managed by the Fund’s investment adviser) that utilize derivatives, such as options or swaps, as part of strategies designed to help limit losses during market declines or periods of elevated volatility, and/or to seek to benefit from significant market dislocations (also referred to as “tail risk events”), which generally involve sharp market declines (typically greater than 25% over a relatively short period) accompanied by increased volatility (collectively, “Risk-Based Strategies”).
Portfolio allocations are evaluated on an ongoing basis, and the Fund is rebalanced as needed in response to significant changes in relative sentiment, with the goal of limiting unnecessary portfolio turnover.
Read More

MOOD - Performance

Return Ranking - Trailing

Period MOOD Return Category Return Low Category Return High Rank in Category (%)
YTD 14.7% N/A N/A N/A
1 Yr 36.4% N/A N/A N/A
3 Yr 20.7%* 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 MOOD Return Category Return Low Category Return High Rank in Category (%)
2025 29.9% N/A N/A N/A
2024 11.1% N/A N/A N/A
2023 11.1% 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 MOOD Return Category Return Low Category Return High Rank in Category (%)
YTD 14.7% N/A N/A N/A
1 Yr 36.4% N/A N/A N/A
3 Yr 20.7%* 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 MOOD Return Category Return Low Category Return High Rank in Category (%)
2025 30.4% N/A N/A N/A
2024 12.5% N/A N/A N/A
2023 12.6% N/A N/A N/A
2022 N/A N/A N/A N/A
2021 N/A N/A N/A N/A

MOOD - Holdings

Concentration Analysis

MOOD Category Low Category High MOOD % Rank
Net Assets 116 M N/A N/A N/A
Number of Holdings 13 N/A N/A N/A
Net Assets in Top 10 64.4 M N/A N/A N/A
Weighting of Top 10 91.22% N/A N/A N/A

Top 10 Holdings

  1. SPDR SP 500 ETF Trust 18.93%
  2. iShares Core MSCI EAFE ETF 15.76%
  3. Graniteshares Gold Trust 14.66%
  4. iShares Core MSCI Emerging Markets ETF 9.54%
  5. Vanguard Energy ETF 7.09%
  6. iShares MSCI Global Gold Miners ETF 6.89%
  7. abrdn Physical Silver Shares ETF 5.50%
  8. Schwab US Small-Cap ETF 4.62%
  9. abrdn Bloomberg All Commodity Strategy K-1 Free ETF 4.24%
  10. Vanguard Short-Term Treasury ETF 3.99%

Asset Allocation

Weighting Return Low Return High MOOD % Rank
Stocks 		99.18% N/A N/A N/A
Cash 		0.82% N/A N/A N/A
Preferred Stocks 		0.00% N/A N/A N/A
Other 		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

Stock Sector Breakdown

Weighting Return Low Return High MOOD % 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 MOOD % Rank
US 		99.18% N/A N/A N/A
Non US 		0.00% N/A N/A N/A

MOOD - Expenses

Operational Fees

MOOD Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.73% N/A N/A N/A
Management Fee 0.65% 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

MOOD 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

MOOD 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.

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

MOOD - Distributions

Dividend Yield Analysis

MOOD Category Low Category High MOOD % Rank
Dividend Yield 0.35% N/A N/A N/A

Dividend Distribution Analysis

MOOD Category Low Category High Category Mod
Dividend Distribution Frequency None

Net Income Ratio Analysis

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

Capital Gain Distribution Analysis

MOOD Category Low Category High Capital Mode
Capital Gain Distribution Frequency

Distributions History

View More +

MOOD - Fund Manager Analysis

Managers

Raymond Micaletti

Start Date

Tenure

Tenure Rank

May 18, 2022

0.04

0.0%

Dr. Micaletti is the founder and CEO of Relative Sentiment Technologies, LLC. He has over 20 years’ experience at major investment banks, hedge funds, and asset management firms. Since 2003 his focus has been on the development of systematic trading strategies. He started at Fortress Investment Group, where from 2004-2008 he developed and managed a suite of quantitative global long/short equity strategies. From 2009 to 2014—first at Macrosignal and later at Telluride Asset Management—he built and traded an ensemble of systematic short-term global macro strategies. Dr. Micaletti has extensive experience in the financial industry working as a global macro portfolio manager, investment strategist, and risk analyst. Ray brings specialized expertise in the development of systematic strategies and quantitative risk management.

Brandon Koepke

Start Date

Tenure

Tenure Rank

May 18, 2022

0.04

0.0%

Mr. Brandon Koepke serves as Chief Technology Officer & Portfolio Manager. Mr. Koepke has a BSc in Computer Science specializing in Software Engineering at the University of Calgary and a BComm in Finance from the Haskayne School of Business.

Richard Shaner

Start Date

Tenure

Tenure Rank

May 18, 2022

0.04

0.0%

Mr. Richard Shaner has been portfolio manager of the Fund since 2021. Mr. Shaner has advised on trading and execution matters for the Adviser since January 2021, where he supports trading operations and assists in quantitative research. Prior to Mr. Shaner’s tenure with the Adviser, Mr. Shaner executed various trading strategies for a private family office. Mr. Shaner has a B.Sc in Kinesiology and Applied Physiology from the University of Colorado. He is also a CFA® Charterholder.

Tenure Analysis

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

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