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GPZ

GradeBNew York Stock Exchange Arca

VanEck Alternative Asset Manager ETF

Themes · VanEck · Inception 2025-06-04 · SEC filings

$22.17−0.37 (−1.64%)

As of Sep 23, 2026, 2:08 PM EDT

History starts Jun 5, 2025.
Intraday session: down, 40 prints from 22.54 to 22.17. Range 22.08 to 22.35. Use the arrow keys to read each point.$22.10$22.3010 AM12 PM2 PM4 PM
Expense ratio
0.40%
Fund size
$232M
1Y return
−23.4%
Yield · Last 12 months
Data unavailable
Holdings
24
Volume · 30D
0.2M sh
NAV per share
$22.69
52W range
low $20.16high $29.57

The ETF.net GPZ Grade

B

64/ 100

Rank 2 of 12 in Listed Private Markets⁠

Confidence Medium

Six-pillar profile for GPZ. Scores out of 100: Cost 96, Risk 10, Mission not scored, Tradability 70, Holdings 50, Durability 51. Strongest: Cost (96). Weakest: Risk (10). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 64 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.
    AScore 96
    Category rank1/12 · top 8%

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    FScore 10
    Category rank12/12 · bottom quartile

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    AScore 70
    Category rank2/12 · top 17%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    CScore 50
    Category rank7/11 · mid-pack

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    CScore 51
    Category rank7/12 · mid-pack

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

Our read on GPZ

ETF.net Research

BPrivate markets, bought from the fee-collecting side. GPZ tracks an index of the publicly listed firms that run buyout, credit and real-asset funds, rather than the deals themselves, for 0.40% a year.

Stated mandate

GPZ seeks to track, before fees and expenses, the price and yield performance of the MarketVector Alternative Asset Managers Index, providing public-equity exposure to alternative asset managers across private-market segments.

Why people hold it

  1. 010.40% a year in a corner of the market that usually charges like the managers it holds: cohort peers PSP (1.80%) and BUYO (0.89%) both cost more for listed private-markets exposure.
  2. 02Clean mechanism: it tracks the MarketVector Alternative Asset Managers Index for public-equity exposure to alternative managers across private-market segments. Rules, not a stock picker's hunches.vaneck.com
  3. 03One of the sturdier implementations in the small listed private-markets group, and it gets there on cost and structure rather than exotic wrappers.

Worth knowing

  1. 01One industry, and a 2025 launch. Early price swings have run high for its group, and there is only a short live record to judge the fund by.
  2. 02Distributions come annually or semiannually, so this is an equity-growth wrapper rather than an income schedule you can plan around.
  3. 03Still a smaller, moderately traded fund. Spreads can be wider than in mega-cap index ETFs, which matters most on large or hurried orders.

GPZ Holdings

As of Sep 20, 2026, 6:07 AM
Asset class
Stocks
Holdings
24
Top-10 weight
70%
Largest holding
BX12.7%

Sectors

  • Financials100.0%

Geography

  • United States65.80%
  • Canada15.75%
  • United Kingdom6.91%
  • Sweden4.61%
  • Switzerland3.82%
  • France3.11%
The fund’s holdings, weight-ordered — page 1 of 2.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001BXBlackstone Inc12.68%232,249$29M299
002KKRKkr & Co Inc10.31%241,323$24M271
003BNBrookfield Corp9.98%616,827$23M42
004APOApollo Global Management Inc7.67%139,885$18M285
005ARESAres Management Corp6.82%125,098$16M251
006ICG.LIcg Plc4.74%427,777$11M20
007EQT.STEqt Ab4.60%342,667$11M92
008ONEX.TOOnex Corp4.54%133,567$10M35
009BAMBrookfield Asset Management Ltd4.46%225,796$10M24
010CGCarlyle Group Inc/The4.09%233,934$9M157
011OWLBlue Owl Capital Inc3.81%879,192$9M86
012PGHN.SWPartners Group Holding Ag3.81%11,636$9M115
013HLNEHamilton Lane Inc3.76%97,833$9M139
014HASIHannon Armstrong Sustainable Infrastruc3.71%229,256$9M124
015RF.PAEurazeo Se3.10%132,518$7M39

Showing 1–15 of 24 holdings

GPZ Performance

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

GPZ$7,656
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. GPZ $7,656. SPY $11,723. Use the arrow keys to read each point.$6,462$9,308$12,154Sep 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 GPZ. Periods over one year show the average yearly return.
PeriodGPZ
Year to date−17.0%
1 month−9.9%
3 months+0.2%
1 year−23.4%
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 GPZ
YearReturn barGPZ
2026 YTD−17.0%
2025+9.4%

History from Jun 5, 2025

GPZ in the news

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

GPZ 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
$0.22 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 22, 2025 $0.22. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Dec 22, 2025Dec 26, 2025$0.22

GPZ Risk

How much the fund’s monthly returns vary, scaled to a year.
25.1%
Annualised · 14 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.
−0.17
vs 3-month T-bills · 14 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.
−31.7%
15 months · trough Mar 2026
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.
0.85
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.

GPZ Cost

Expense ratio0.40%
  • The middle half of Listed Private Markets funds
  • Median 0.95%

No Listed Private Markets fund charges less.

GPZ costs $40.00 a year on $10,000. The median Listed Private Markets fund costs $95.00.