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DANA

This fund does not currently behave like the group it was assigned to, so its grouping is being re-reviewed. Grading pauses until the review resolves, because a letter measured against the wrong peer group would be a statement about the wrong funds.New York Stock Exchange Arca

Dana Limited Volatility ETF

Core US Bond · Dana · Inception 2025-12-02

$24.94−0.10 (−0.38%)

As of Sep 23, 2026, 1:08 PM EDT

History starts Dec 3, 2025.History starts Dec 3, 2025.
Intraday session: down, 4 prints from 25.04 to 24.94. Range 24.92 to 25.04. Use the arrow keys to read each point.$24.93$24.98$25.00$25.0210 AM12 PM2 PM4 PM
Expense ratio
0.35%
Fund size
$16M
1Y return
—
Yield · Last 12 months
Data unavailable
Volume · 30D
0M sh
NAV per share
$24.99
52W range
low $24.93high $25.60

Our read on DANA

ETF.net Research

Dana targets portfolio duration of 0.60 to 2.50 years and an average credit quality of AA-/Aa3, then pays monthly. Grouped with the core bond crowd, it is built more like a short-duration parking spot than a core holding.

Stated mandate

The Fund seeks to preserve capital and provide current income. It is actively managed and primarily invests in high-quality, cash-flow-producing fixed-income securities, focusing on U.S. government securities and investment-grade corporate bonds.

Why people hold it

  1. 01The mandate is written down, not implied: a 0.60 to 2.50 year duration target and an AA-/Aa3 average credit quality target, straight from the prospectus.sec.gov
  2. 02Active management at 0.35%, essentially the middle of the pack for its bond cohort, where most rivals simply hold the index.
  3. 03Monthly income is the stated policy, and the portfolio can hold floating and adjustable-rate paper to soften interest-rate sensitivity.sec.gov
  4. 04It is the ETF version of Dana's Limited Volatility bond strategy, run by a Wisconsin shop that has been managing money since 1980.danainvestment.comfinance.yahoo.com

Worth knowing

  1. 01You pay 0.35% here while the cohort's index giants (BND, SPAB, SCHZ) charge 0.03%. The gap buys active short-duration management, not broad market beta.
  2. 02Small and thinly traded since its December 2025 launch, so spreads matter more than with the household-name bond funds.
  3. 03Short duration means less rate sensitivity than a core aggregate fund, and a different ride from the intermediate-term bonds it gets screened against.sec.gov

DANA Holdings

As of Sep 20, 2026, 9:24 AM
Asset class
Bonds
Holdings
—
Top-10 weight
28%
Largest holding
Fannie Mae Pool 3.163% 07/01/20533.3%
The fund’s holdings, weight-ordered — page 1 of 6.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—Fannie Mae Pool 3.163% 07/01/20533.28%493,826$512K1
002—Fannie Mae Pool 3.176% 01/01/20543.21%497,980$501K1
003—First American Government Obligations Fund 12/01/20313.13%488,552$489K625
004—Small Business Administration Pools 5.5% 01/25/20412.85%431,933$445K1
005—Freddie Mac Non Gold Pool 2.096% 06/01/20522.84%465,918$444K3
006—Fannie Mae Pool 6.133% 09/01/20402.57%384,165$401K1
007—Federal National Mortgage Association 4.625% 08/24/20292.54%400,000$397K1
008—Fannie Mae Pool 2.422% 02/01/20532.45%373,808$383K1
009—Fannie Mae Pool 2.791% 07/01/20532.44%378,448$382K1
010—Fannie Mae Pool 6.153% 07/01/20392.44%367,368$381K1
011—Fannie Mae Pool 3.181% 01/01/20542.40%380,056$374K1
012—Federal Home Loan Banks 4.45% 06/15/20292.38%375,000$371K1
013—Fannie Mae Pool 3.595% 07/01/20502.35%357,177$368K1
014—Fannie Mae Pool 5.357% 01/01/20512.33%351,247$365K1
015—Small Business Administration Pools 5.75% 04/25/20362.29%342,624$358K2

Showing 1–15 of 90 holdings

DANA Performance

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

DANA$10,088
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,430
Dec 31, 2025 to Sep 22, 2026. DANA $10,088. SPY $11,430. Use the arrow keys to read each point.$9,119$10,381$11,642Dec 2025May 2026Sep 2026

Dec 31, 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 DANA. Periods over one year show the average yearly return.
PeriodDANA
Year to date+0.9%
1 month+0.2%
3 months+0.6%
1 yearFund is under 1 year old—
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 DANA
YearReturn barDANA
2026 YTD+0.9%
2025+0.8%

History from Dec 3, 2025

DANA in the news

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

DANA 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.
Data unavailableLast 12 months
Payout per share
Data unavailableLast 12 months
Last payment
$0.06 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Monthly

Distribution data unavailable.

Distribution history

2025–2026

One bar per payment. 9 payments from 2025 to 2026 YTD. Dec 30, 2025 $0.07; Jan 29, 2026 $0.07; Feb 26, 2026 $0.04; Mar 30, 2026 $0.06; Apr 29, 2026 $0.07; May 28, 2026 $0.06; Jun 29, 2026 $0.09; Jul 28, 2026 $0.07; Aug 27, 2026 $0.06. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Aug 27, 2026Aug 28, 2026$0.06
Jul 28, 2026Jul 29, 2026$0.07
Jun 29, 2026Jun 30, 2026$0.09
May 28, 2026May 29, 2026$0.06
Apr 29, 2026Apr 30, 2026$0.07
Mar 30, 2026Mar 31, 2026$0.06
Feb 26, 2026Feb 27, 2026$0.04
Jan 29, 2026Jan 30, 2026$0.07
Dec 30, 2025Dec 31, 2025$0.07

DANA Risk

How much the fund’s monthly returns vary, scaled to a year.
—
Launched Dec 2025; fills in after 12 months
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.
—
Launched Dec 2025; fills in after 12 months
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.
—
Launched Dec 2025; fills in after 12 months
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.
0.04
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.

DANA Cost

Expense ratio0.35%
  • The middle half of Core Securitized Bond funds
  • Median 0.40%

2 of the 10 Core Securitized Bond funds charge less.

DANA costs $35.00 a year on $10,000. The median Core Securitized Bond fund costs $39.50.