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Launched

abrdn Focused U.S. Small Cap Active ETF

AFSCNasdaqAberdeen InvestmentsC

$36.54+0.45 (+1.25%)

At close: Nov 2, 2026, 4:00 PM ET

C40/ 100

Rank 29 of 41 in US Active Small-Cap

C40/100Rank 29 of 41inUS Active Small-Cap
Intraday session: up, 79 prints from 36.09 to 36.54. Range 36.10 to 37.09. Use the arrow keys to read each point.36.4036.8037.0010 AM12 PM2 PM4 PM
Expense ratio
0.65%*
Fund size
$10M
1Y total return
+23.2%
Yield · Last 12 months
No data
Holdings
42
Avg volume · 30D
488 sh
52W range
low $26.99high $40.06
Launched

*After a fee waiver that ends Feb 28, 2027. Without it: 1.09%.

The ETF.net AFSC Grade

Based on 5 of 6 pillars

C

Score 40 out of 100

Category
US Active Small-Cap⁠
Rank
29 of 41
Six-pillar profile for AFSC. Scores out of 100: Cost 38, Risk 58, Mission not scored, Tradability 29, Holdings 36, Durability 53. Strongest: Risk (58). Weakest: Tradability (29). Based on 5 of 6 pillars.

Score 40 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    D38 out of 100
    Rank 26 of 41

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    B58 out of 100
    Rank 16 of 39

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    D29 out of 100
    Rank 32 of 41

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    D36 out of 100
    Rank 34 of 41

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    C53 out of 100
    Rank 21 of 41

Our read on AFSC

ETF.net Research

In short

CA 1997-vintage Aberdeen stock-picking strategy that swapped its mutual fund shell for an ETF wrapper in 2025. It chases long-term capital appreciation through roughly 35 to 45 U.S. small caps, so every name actually counts.

Stated mandate

The fund seeks long-term capital appreciation by investing at least 80% of its assets in equity securities of U.S. small-cap companies. It uses a focused approach that typically holds a small number of issuers.

Why people hold it

  • Focused by design: the prospectus targets roughly 35 to 45 issuers, so each pick carries real weight instead of vanishing into a long index tail.sec.gov
  • The strategy predates the wrapper, running as a mutual fund since 1997 before converting with the same objective and principal strategies, now priced intraday.sec.gov
  • Active small-cap stock picking at a near-median price for the category: 0.65% net of a waiver through February 28, 2027.

Worth knowing

  • That 0.65% rides on a waiver through February 28, 2027; gross expenses are 1.09%. Peers AVSC (0.25%) and FESM (0.28%) charge less with no waiver in the mix.
  • A small fund that trades thinly, so spreads and premiums to NAV can matter as much as the expense ratio.
  • Concentration cuts both ways, and the prospectus permits heavy exposure to a single sector, flagging significant industrials weight.sec.gov

AFSC Holdings

Holdings pillarD36 out of 100Rank 34 of 41 in US Active Small-Cap
Asset class
Stocks
Holdings
42
Top-10 weight
32%
Largest holding
KNSA4.2%

Geography

  • United States93.03%
  • United Kingdom4.33%
  • Bahamas2.64%
The fund’s holdings, weight-ordered — page 1 of 3.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1KNSAKiniksa Pharmaceuticals Inte Common Stock USD.0002734.24%4,284$418K88
2MMSIMerit Medical Systems Inc Common Stock3.53%3,718$347K134
3AHRAmerican Healthcare Reit Inc Reit USD.013.36%6,257$331K148
4KWRQuaker Chemical Corporation Common Stock USD1.03.14%1,957$309K113
5MGYMagnolia Oil & Gas Corp A Common Stock USD.00013.13%11,762$308K165
6LGNDLigand Pharmaceuticals Common Stock USD.0013.11%966$307K139
7QTWOQ2 Holdings Inc Common Stock USD.00012.93%4,424$289K139
8SBCFSeacoast Banking Corp/Fl Common Stock USD.12.92%8,655$288K109
9WTFCWintrust Financial Corp Common Stock2.81%1,797$277K166
10ABCBAmeris Bancorp Common Stock USD1.02.77%3,291$272K131
11SUPNSupernus Pharmaceuticals Inc Common Stock USD.0012.75%6,485$271K117
12ARQTArcutis Biotherapeutics Inc Common Stock USD.00012.60%7,995$256K106
13OSWOnespaworld Holdings Ltd Common Stock USD.00012.59%8,490$256K100
14AZZAzz Inc Common Stock USD1.02.50%1,782$246K139
15ATECAlphatec Holdings Inc Common Stock USD.00012.36%20,403$232K69

Showing 1–15 of 42 holdings

AFSC Performance

Launched Dec 31, 1997

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.Not enough history yet.Not enough history yet.
AFSC$12,322
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. AFSC $12,322. SPY $11,199. Use the arrow keys to read each point.$10,000$12,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for AFSC. Periods over one year show the average yearly return.
PeriodAFSC
Year to date+19.6%
1 month−0.5%
3 months−4.4%
1 year+23.2%
3 yearsHistory unavailableper yearNo data
5 yearsHistory unavailableper yearNo data
10 yearsHistory unavailableper yearNo data

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for AFSC
YearReturn barAFSC
2026 YTD+19.6%
2025+2.7%

History from Feb 18, 2025

AFSC in the news

AFSC Dividends

Last payment
$0.02 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Irregular

Distribution data unavailable.

Distribution history

2025–2026

One bar per payment. 1 payment from 2025 to 2026 YTD. Dec 19, 2025 $0.02. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Dec 19, 2025Dec 24, 2025$0.02

$10,000 in AFSC 1 year ago paid $7.97 in dividends.

AFSC Risk

Risk pillarB58 out of 100Rank 16 of 39 in US Active Small-Cap
How much the fund’s monthly returns vary, scaled to a year.
17.5%
Annualised · 20 months to Oct 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
0.79
vs 3-month T-bills · 20 months to Oct 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−21.7%
20 months · trough Apr 2025
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
1.17
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

AFSC Cost

Compare AFSC and AVSC

Overpaying vs AVSC, cheapest in US Active Small-Cap

$7,558

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • AFSC 0.65%

    $12,717

  • AVSC 0.25% Cheapest

    $5,159

$10,000
30 years

Cost over time

  • AFSC 0.65%
  • AVSC 0.25%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K051015202530AFSC $12,717AVSC $5,159

Year by year

YearAFSCAVSCOverpaying
10$1,163$455$708
20$4,440$1,769$2,671
30$12,717$5,159$7,558
How the 0.65% is worked out

Full fee 1.09%− waiver 0.44%= you pay 0.65%

The waiver ends Feb 28, 2027. After that the fee is 1.09% unless Aberdeen Investments renews it. Source: prospectus, Mar 2026.

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