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KAMO

GradeBChicago Board Options Exchange

Kensington Credit Opportunities ETF

Multi-Asset & Alternatives · Kensington · Inception 2025-12-16 · SEC filings

$24.40−0.15 (−0.59%)

As of Sep 23, 2026, 3:07 PM EDT

History starts Dec 17, 2025.History starts Dec 17, 2025.
Intraday session: down, 28 prints from 24.55 to 24.40. Range 24.39 to 24.56. Use the arrow keys to read each point.$24.45$24.50$24.5510 AM12 PM2 PM4 PM
Expense ratio
0.92%
Fund size
$106M
1Y return
—
Yield · Last 12 months
Data unavailable
Volume · 30D
0M sh
NAV per share
$24.55
52W range
low $24.45high $25.24

The ETF.net KAMO Grade

B

57/ 100

Rank 22 of 46 in Tactical Allocation⁠

Confidence Medium

Six-pillar profile for KAMO. Scores out of 100: Cost 49, Risk 59, Mission not scored, Tradability 86, Holdings 39, Durability 57. Strongest: Tradability (86). Weakest: Holdings (39). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 57 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.
    CScore 49
    Category rank24/46 · mid-pack

  • 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.
    BScore 59
    Category rank19/46 · top 41%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    AScore 86
    Category rank5/46 · top 11%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    DScore 39
    Category rank32/42 · bottom quartile

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    BScore 57
    Category rank25/46 · mid-pack

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

Our read on KAMO

ETF.net Research

BMost bond funds can only buy bonds. KAMO runs a quantitative credit strategy that takes long or short positions across global fixed income, dialing duration and credit risk up or down, and it charges a bit less than the typical tactical fund.

Stated mandate

The Fund seeks income and capital appreciation through an actively managed, quantitative fixed-income strategy that takes long or short positions across credit and other fixed-income segments while managing duration and credit risk.

Why people hold it

  1. 01The mandate is unusual for a bond ETF: long or short positions across credit and other fixed-income segments, with duration and credit risk actively managed instead of pinned to an index.
  2. 020.92% a year, just under the 0.95% median for its tactical multi-asset cohort.
  3. 03Pays quarterly, and the stated aim is income plus capital appreciation, not price return alone.
  4. 04Stands in the upper half of its tactical peer group on our review.

Worth knowing

  1. 01Launched in December 2025, so the live record is short and any read on how the model behaves through a full credit cycle rests on limited history.
  2. 02It does not trade heavily. Limit orders and mid-session trading help keep spread costs in check.
  3. 030.92% is a real fee in absolute terms, and a book that can sit long or short will behave differently from a plain bond index.

KAMO Holdings

As of Sep 20, 2026, 10:16 AM
Asset class
Bonds
Holdings
—
Top-10 weight
100%
Largest holding
SPHY71.2%

Geography

  • United States100.00%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001SPHYState Street SPDR Portfolio High Yield Bond ETF71.21%3,280,705$75M16
002JAAAJanus Henderson AAA CLO ETF22.49%469,917$24M16
003VGLTVanguard Long-Term Treasury ETF4.63%94,209$5M7
004VGITVanguard Intermediate-Term Treasury ETF1.21%22,399$1M12
005USHYiShares Broad USD High Yield Corporate Bond ETF0.50%14,557$529K13
006—US BANK MMDA - USBGFS 9 09/01/2037<0.01%1,530$2K161

Showing 1–6 of 6 holdings

KAMO Performance

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

KAMO$9,963
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. KAMO $9,963. 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 KAMO. Periods over one year show the average yearly return.
PeriodKAMO
Year to date−0.4%
1 month−0.4%
3 months−0.1%
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 KAMO
YearReturn barKAMO
2026 YTD−0.4%
2025+0.4%

History from Dec 17, 2025

KAMO in the news

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

KAMO 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
$0.17 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution data unavailable.

Distribution history

2025–2026

One bar per payment. 3 payments from 2025 to 2026 YTD. Dec 31, 2025 $0.07; Mar 31, 2026 $0.21; Jun 30, 2026 $0.17. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Jun 30, 2026Jul 1, 2026$0.17
Mar 31, 2026Apr 1, 2026$0.21
Dec 31, 2025Jan 2, 2026$0.07

KAMO 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.
0.11
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.

KAMO Cost

Expense ratio0.92%
  • The middle half of Tactical Allocation funds
  • Median 0.91%

23 of the 46 Tactical Allocation funds charge less.

KAMO costs $92.00 a year on $10,000. The median Tactical Allocation fund costs $90.50.