Skip to content
etf.net

HVAC

GradeFNew York Stock Exchange Arca

AdvisorShares HVAC and Industrials ETF

Active Equity · AdvisorShares · Inception 2025-02-03 · SEC filings

$34.30+0.08 (+0.23%)

As of Sep 23, 2026, 2:18 PM EDT

History starts Feb 4, 2025.
Intraday session: up, 5 prints from 34.22 to 34.30. Range 34.09 to 34.30. Use the arrow keys to read each point.$34.10$34.15$34.20$34.2510 AM12 PM2 PM4 PM
Expense ratio
35.61%
Fund size
$14M
1Y return
+10.0%
Yield · Last 12 months
Data unavailable
Holdings
27
Volume · 30D
0M sh
NAV per share
$33.48
52W range
low $29.62high $43.41

The ETF.net HVAC Grade

F

20/ 100

Rank 35 of 35 in US Active Sector⁠

Confidence High

Six-pillar profile for HVAC. Scores out of 100: Cost 0, Risk 15, Mission 28, Tradability 47, Holdings 50, Durability 26. Strongest: Holdings (50). Weakest: Cost (0). Leans toward Holdings and Tradability.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 20 of 100 sits in the F 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.
    FScore 0
    Category rank35/35 · bottom quartile

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    DScore 28
    Category rank9/9 · bottom quartile

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    FScore 15
    Category rank35/35 · bottom quartile

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    CScore 47
    Category rank21/35 · mid-pack

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    CScore 50
    Category rank21/35 · mid-pack

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    DScore 26
    Category rank31/35 · bottom quartile

Graded as of Sep 22, 2026

Our read on HVAC

ETF.net Research

FAir conditioners, furnaces, heat pumps. HVAC is the rare fund built around the machines that keep buildings livable, plus the industrials around them: actively managed, roughly two dozen US-listed names, launched in 2025.

Stated mandate

The Fund seeks long-term capital appreciation. It is actively managed and invests in U.S.-traded common stocks and ADRs across HVAC-related businesses and industrial-sector companies.

Why people hold it

  1. 01A genuinely unusual mandate: US-listed HVAC makers, suppliers and distributors alongside broader industrial companies, in a compact book of roughly 27 stocks and ADRs.
  2. 02Actively managed, so the manager can move across equipment, components and distribution names rather than track a fixed thematic index.
  3. 03The prospectus objective is plain: long-term capital appreciation from US HVAC-related and industrial businesses. You know exactly what you own.

Worth knowing

  1. 01The fee is the headline trade-off. It sits far above what active US equity ETFs such as DFAU or AVLC charge, and the portfolio has to clear that cost every year.
  2. 02A small asset base and light trading mean wider bid-ask spreads than mainstream funds, so the price you pay can drift from the fund's underlying value.
  3. 03Around two dozen names in one slice of industrials: individual stocks and the building cycle swing this portfolio hard, and the record only starts in 2025.

HVAC Holdings

As of Sep 20, 2026, 6:06 AM
Asset class
Stocks
Holdings
27
Top-10 weight
58%
Largest holding
FIX7.5%

Sectors

Geography

The fund’s holdings, weight-ordered — page 1 of 2.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001FIXCOMFORT SYSTEMS USA INC7.51%624$1M393
002CLSCELESTICA INC6.54%2,700$898K32
003BEBLOOM ENERGY CORP- A6.24%3,225$857K304
004APHAMPHENOL CORP-CL A6.04%10,696$829K441
005BDCBELDEN INC5.73%7,086$786K141
006MMM3M CO5.56%4,600$763K316
007VRTVERTIV HOLDINGS CO-A5.47%3,009$750K384
008NVTNVENT ELECTRIC PLC5.45%4,734$747K252
009PWRQUANTA SERVICES INC4.64%1,000$637K355
010AMEAMETEK INC4.55%2,630$625K314
011FERGFERGUSON ENTERPRISES INC4.22%2,700$579K305
012MAIRMADISON AIR SOLUTIONS CORP-A4.20%24,000$576K30
013GNRCGENERAC HOLDINGS INC4.08%2,700$560K215
014JBLJABIL INC4.08%1,868$560K312
015LGNLEGENCE CORP-CL A4.07%10,000$558K68

Showing 1–15 of 23 holdings

HVAC Performance

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

HVAC$11,004
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. HVAC $11,004. SPY $11,723. Use the arrow keys to read each point.$9,183$11,710$14,237Sep 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 HVAC. Periods over one year show the average yearly return.
PeriodHVAC
Year to date+10.6%
1 month+0.5%
3 months−20.8%
1 year+10.0%
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 HVAC
YearReturn barHVAC
2026 YTD+10.6%
2025+24.0%

History from Feb 4, 2025

HVAC in the news

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

HVAC 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
Irregular

Distribution data unavailable.

Distribution history

2025–2026

One bar per payment. 1 payment from 2025 to 2026 YTD. Dec 22, 2025 $0.06. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Dec 22, 2025Dec 29, 2025$0.06

HVAC Risk

How much the fund’s monthly returns vary, scaled to a year.
29.4%
Annualised · 18 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.
0.80
vs 3-month T-bills · 18 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.
−24.9%
19 months · trough Sep 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.
1.30
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.

HVAC Cost

Expense ratio35.61%
  • The middle half of US Active Sector funds
  • Median 0.65%

Every other US Active Sector fund charges less.

HVAC costs $3561.00 a year on $10,000. The median US Active Sector fund costs $65.00.