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CPAI

GradeBNew York Stock Exchange

Northern Lights Fund Trust III - Counterpoint Quantitative Equity ETF

Active Equity · Counterpoint · Inception 2023-11-28

$52.33−0.28 (−0.53%)

As of Sep 23, 2026, 2:20 PM EDT

History starts Nov 29, 2023.
Intraday session: down, 57 prints from 52.61 to 52.33. Range 52.11 to 52.48. Use the arrow keys to read each point.$52.10$52.20$52.40$52.5010 AM12 PM2 PM4 PM
Expense ratio
0.75%
Fund size
$539M
1Y return
+36.6%
Yield · Last 12 months
0.68%
Holdings
50
Volume · 30D
0.1M sh
NAV per share
$52.37
52W range
low $37.29high $53.96

The ETF.net CPAI Grade

B

56/ 100

Rank 50 of 127 in US Active Equity⁠

Confidence High

Six-pillar profile for CPAI. Scores out of 100: Cost 39, Risk 48, Mission 62, Tradability 83, Holdings 78, Durability 67. Strongest: Tradability (83). Weakest: Cost (39). Leans toward Tradability and Holdings.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 56 of 100 sits in the B band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    DScore 39
    Category rank76/127 · mid-pack

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    BScore 62
    Category rank38/48 · bottom quartile

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    CScore 48
    Category rank77/126 · mid-pack

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    AScore 83
    Category rank12/127 · top 9%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    AScore 78
    Category rank27/124 · top 22%

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    BScore 67
    Category rank38/127 · top 30%

Graded as of Sep 22, 2026

Our read on CPAI

ETF.net Research

BThe AI here picks the stocks, it doesn't buy them. Counterpoint's machine-learning models rank US companies on 30-plus variables, then hold at least 50 of the top names equal-weighted, tilted toward small and mid caps.

Stated mandate

The Fund seeks long-term capital appreciation.

Why people hold it

  1. 01The models weigh more than 30 inputs spanning value, long-term reversal, momentum, profitability, investor sentiment and price stability, and retrain at each quarterly rebalance.sec.govcounterpointfunds.com
  2. 02Equal weighting, a floor of 50 holdings, and a target of no more than 35% in any one sector stop a single stock or hot sector from running the portfolio.counterpointfunds.com
  3. 03A small and mid cap tilt sets it apart in a peer group crowded with large-cap core products like DFAU, FELC and AVLC.counterpointfunds.com

Worth knowing

  1. 01At 0.75% a year it costs more than the typical active US equity ETF, and far more than cheap core rivals such as DFAU (0.12%) and FELC (0.18%).
  2. 02Holdings come from proprietary models refined through backtesting, so you can't check any position against a published rulebook the way you can with an index fund.sec.gov
  3. 03Launched in 2023, so the live record is short, and an equal-weighted small and mid cap book can behave very differently from a large-cap benchmark.counterpointfunds.com

CPAI Holdings

As of Sep 20, 2026, 10:00 AM
Asset class
Stocks
Holdings
50
Top-10 weight
30%
Largest holding
TXG4.0%

Sectors

  • Technology32.5%
  • Health Care28.7%
  • Energy14.8%
  • Industrials6.9%
  • Materials3.9%
  • Consumer Discr.3.7%
  • Communication3.6%
  • Cons. Staples3.4%
  • Financials2.4%

Geography

  • United States92.78%
  • Canada5.88%
  • United Kingdom1.34%
The fund’s holdings, weight-ordered — page 1 of 4.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001TXG10X Genomics, Inc.4.04%284,154$22M136
002PBFPBF Energy, Inc.3.44%241,494$19M158
003ABCLAbCellera Biologics, Inc.3.31%1,409,723$18M11
004HPQHP, Inc.2.92%456,727$16M330
005DELLDell Technologies, Inc.2.82%25,955$15M427
006FSLYFastly, Inc.2.76%609,081$15M96
007HPEHewlett Packard Enterprise Company2.69%238,454$15M379
008APAAPA Corporation2.65%315,515$14M283
009CVECenovus Energy, Inc.2.55%419,441$14M23
010SMCISuper Micro Computer, Inc.2.54%340,882$14M265
011NTAPNetApp, Inc.2.49%68,419$13M410
012COPConocoPhillips2.42%98,303$13M425
013AAPLApple, Inc.2.30%36,936$12M707
014OXYOccidental Petroleum Corporation2.28%208,426$12M314
015CXWCoreCivic, Inc.2.23%339,209$12M94

Showing 1–15 of 52 holdings

CPAI Performance

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

CPAI$13,656
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. CPAI $13,656. SPY $11,723. Use the arrow keys to read each point.$9,181$11,717$14,252Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

Returns run to the Sep 22, 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 CPAI. Periods over one year show the average yearly return.
PeriodCPAI
Year to date+31.3%
1 month+0.5%
3 months+2.4%
1 year+36.6%
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, 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 CPAI
YearReturn barCPAI
2026 YTD+31.3%
2025+17.8%
2024+28.3%
2023+6.7%

History from Nov 29, 2023

CPAI in the news

ETF.net Research hasn’t filed on CPAI yet — coverage lands here as it’s written.

CPAI Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
0.68%Last 12 months
Payout per share
$0.36Last 12 months
Last payment
$0.36 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Annual

Distribution history

2023–2026

One bar per payment. 3 payments from 2023 to 2026 YTD. Dec 14, 2023 $0.02; Dec 12, 2024 $0.14; Dec 12, 2025 $0.36. Use the arrow keys to read each point.2023202420252026YTD
Ex-datePay dateAmount per share
Dec 12, 2025Dec 17, 2025$0.36
Dec 12, 2024Dec 17, 2024$0.14
Dec 14, 2023Dec 19, 2023$0.02

CPAI Risk

How much the fund’s monthly returns vary, scaled to a year.
17.0%
Annualised · 33 months to Aug 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.
1.40
vs 3-month T-bills · 33 months to Aug 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.
−21.5%
33 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.
1.08
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.

CPAI Cost

Expense ratio0.75%
  • The middle half of US Active Equity funds
  • Median 0.70%

70 of the 124 US Active Equity funds charge less.

CPAI costs $75.00 a year on $10,000. The median US Active Equity fund costs $70.00.