Acruence Active Hedge U.S. Equity ETF
ALTAR
Score™		 4.1% info Recommen-
dation		 UNDERWEIGHT
2025E    2026E
P/E
ratio		 25.6x P/Sales
ratio		 4.2x
P/BV
ratio		 5.8x Div.
yield		 1.1%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
XVOL is an actively managed fund that seeks capital growth with reduced volatility as compared to the S&P 500 by purchasing options contracts on the VIX Index.

FUND BASICS
Category US Equities
Fund Sponsor Toroso Investments
Website www.acruenceetf.com
Inception date Apr 22, 2021
Assets (mns) $2
Currency USD
Expense ratio 83 bp
Distributions Annually

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Proprietary
Index replication
Uses derivatives Yes
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 81
Wgt avg mkt cap (mns) $347,313
Large cap (>$10bn) 78.0%
Mid cap ($2-10bn) 12.3%
Small cap (<$2bn) 9.7%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
EXPEDIA GROUP INC 2.0 %
LAS VEGAS SANDS CORP 2.0 %
EDWARDS LIFESCIENCES CORP 1.9 %
FORTINET INC 1.8 %
IDEXX LABORATORIES INC 1.8 %
QUALCOMM INC 1.8 %
AMPHENOL CORP-CL A 1.7 %
INSULET CORP 1.7 %
HOWMET AEROSPACE INC. 1.7 %
UBER TECHNOLOGIES, INC. 1.7 %
Total 18.2 %

TOP COUNTRY EXPOSURE
UNITED STATES 92.1 %
IRELAND 4.2 %
SWITZERLAND 1.2 %
BRITAIN 0.7 %







HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru October 31)
Year-to-date 1 year 5 years 10 years Since Incep.
9.4% 11.1% -- -- 5.3%

Market Correlations
versus... Beta R-squared
S&P500 1.08 80%
MSCI EAFE 0.53 25%
MSCI Emg. Mkts. 0.36 14%

Technical Indicators
Recent close $23.32
30d moving avg. $23.34
Annualized volatility 15.6%
Short interest (ETF) 11.0%
Relative strength (RSI) 53

Liquidity measures
Avg. volume (thou.) 1
Turnover 1.0%
Bid/Ask (% of price) 0.59%
ADV underlying (mns) $86,699

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 31 potential alternatives to the Acruence Active Hedge U.S. Equity ETF ETF based on the alternatives' overlap in portfolio holdings with XVOL. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: XVOL Expense: 83 bp ALTAR Score™: 4.1%


ALTERNATIVE ETFs BASED ON OVERLAP WITH XVOL
Ticker Fund
Name		 Overlap1
vs XVOL
(%)		 Expense
ratio
(bp)		 Savings
vs XVOL
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs XVOL
(%)
ACIO Aptus Collared Investment Opportunity ETF 23.7 79 4 4.0 -0.1
GARP iShares MSCI USA Quality GARP ETF 23.2 15 68 4.0 -0.1
PBP Invesco S&P 500 BuyWrite ETF 22.2 49 34 4.4 +0.3
XRMI Global X S&P 500 Risk Managed Income ETF 22.1 60 23 4.3 +0.2
XYLD Global X S&P 500 Covered Call ETF 22.1 60 23 4.3 +0.2
XYLG Global X S&P 500 Covered Call & Growth ETF 22.0 60 23 4.3 +0.2
XTR Global X S&P 500 Tail Risk ETF 21.8 26 57 4.7 +0.6
XCLR Global X S&P 500 Collar 95-110 ETF 21.7 25 58 4.7 +0.6
NUSI Nationwide Nasdaq-100 Risk-Managed Income ETF 21.0 68 15 3.6 -0.5
QYLD Global X NASDAQ 100 Covered Call ETF 20.5 60 23 3.6 -0.5
QRMI Global X NASDAQ 100 Risk Managed Income ETF 20.4 60 23 3.6 -0.5
QYLG Global X Nasdaq 100 Covered Call & Growth ETF 20.3 60 23 3.7 -0.4
SFLR Innovator Equity Managed Floor ETF 20.2 89 -6 3.8 -0.3
QTR Global X NASDAQ 100 Tail Risk ETF 20.2 26 57 4.1 +0.0
QCLR Global X NASDAQ 100 Collar 95-110 ETF 20.2 25 58 4.0 -0.1
SIXH ETC 6 Meridian Hedged Equity Index Option ETF 19.6 82 1 6.7 +2.6
EFIV State Street SPDR S&P 500 ESG ETF 19.2 10 73 5.1 +1.0
FTHI First Trust BuyWrite Income ETF 17.7 75 8 4.7 +0.6
JEPQ J.P. Morgan Nasdaq Equity Premium Income ETF 17.3 35 48 4.0 -0.1
FTQI First Trust Nasdaq BuyWrite Income ETF 16.8 75 8 3.6 -0.5
MMLG First Trust Multi-Manager Large Growth ETF 13.9 85 -2 2.0 -2.1
THNQ ROBO Global Artificial Intelligence ETF 13.8 68 15 2.4 -1.7
DJIA Global X Dow 30 Covered Call ETF 12.1 60 23 5.0 +0.9
DYLG Global X Dow 30 Covered Call & Growth ETF 12.1 60 23 5.0 +0.9
CCOR Core Alternative ETF 12.1 107 -24 5.2 +1.1
KNG FT Vest S&P 500 Dividend Aristocrats Target Income ETF 10.5 75 8 5.9 +1.8
DIVO Amplify CWP Enhanced Dividend Income ETF 9.8 55 28 4.8 +0.7
TYLG Global X Information Technology Covered Call & Growth ETF 9.5 60 23 3.8 -0.3
QQQA ProShares Nasdaq-100 Dorsey Wright Momentum ETF 9.1 58 25 3.0 -1.1
LCG Sterling Capital Focus Equity ETF 9.1 59 24 3.0 -1.1
QUSA VistaShares Target 15 USA Quality Income ETF 7.2 95 -12 0.0 -4.1

1Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

Content on this tab for subscribers only**

RESULTS & ESTIMATES

  2020 2021 2022 2023 2024 2025E 2026E
Sales per share ** ** ** ** ** ** **
Earnings per share ** ** ** ** ** ** **
Dividends per share info ** ** ** ** ** ** **
Book value per share ** ** ** ** ** ** **

 

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est. **%   Debt-to-equity **x
Asset turnover **%   Assets-to-equity **x

Return on equity

Revision activity*
*Six months ago = 100

Net margins

Compound annual growth rates

Content on this tab for subscribers only

VALUATION METRICS
  2024 2025E 2026E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:		 Acruence Active Hedge U.S. Equity ETF
Relative
to:		 S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

UNDERWEIGHT
Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 24.5 %
Divided by: Fwd. P/BV 5.0 x
Less: Expense ratio 83 bp
Equals: ALTAR Score 4.1 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.59 CATEGORY
AVERAGE		 1.58
 
The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale:

BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3.

Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.
 

 

See RATING tab for calculation of ALTAR Score™
Risk & reward. Uses std. dev. as proxy for risk, ALTAR Score™ for return forecast.
Dividends paid by constituents to the fund. May differ from actual distributions to shareholders due to constituent changes, timing issues or other factors.
Monthly returns based on changes in price plus dividends. May differ from daily returns reported by funds. See below for standardized returns.