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Launched

F/M Emerald Life Sciences Innovation ETF

LFSCNasdaqEmeraldB

$43.27−0.33 (−0.75%)

At close: Nov 2, 2026, 4:00 PM ET

B61/ 100

Rank 7 of 35 in US Active Sector

B61/100Rank 7 of 35inUS Active Sector
Intraday session: down, 79 prints from 43.60 to 43.27. Range 42.77 to 44.00. Use the arrow keys to read each point.42.7543.0043.7544.0010 AM12 PM2 PM4 PM
Expense ratio
0.54%*
Fund size
$122M
1Y total return
+32.6%
Yield · Last 12 months
No data
Holdings
38
Avg volume · 30D
4.16K sh
52W range
low $31.02high $48.78
Launched

*After a fee waiver that ends Dec 31, 2026. Without it: 0.79%.

The ETF.net LFSC Grade

B

Score 61 out of 100

Category
US Active Sector⁠
Rank
7 of 35
Six-pillar profile for LFSC. Scores out of 100: Cost 76, Risk 32, Mission 84, Tradability 61, Holdings 71, Durability 41. Strongest: Mission (84). Weakest: Risk (32). Leans toward Mission.

Score 61 of 100 falls in the B band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    A76 out of 100
    Rank 9 of 35

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A84 out of 100
    Rank 2 of 9

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    D32 out of 100
    Rank 25 of 35

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    B61 out of 100
    Rank 10 of 35

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    A71 out of 100
    Rank 8 of 35

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    C41 out of 100
    Rank 25 of 35

Our read on LFSC

ETF.net Research

In short

BAn actively managed swing at life sciences innovation, launched in 2024 and priced below the typical active US equity fund. Healthcare stock-picking in a single ticket, not a sector index.

Stated mandate

The fund is intended to provide exposure to the healthcare sector, primarily through the F/m Emerald Life Sciences Innovation ETF.

Why people hold it

  • 0.54% buys active healthcare management for less than the median active US equity fund charges, so the stock-picking doesn't start in a fee hole.
  • The portfolio sticks closely to the healthcare mandate in its filings. What the documents describe is what shows up in the holdings.
  • One ticket for a specialist life sciences sleeve run by a manager making calls, rather than a rules-based sector index rebalancing on a calendar.

Worth knowing

  • Thinly traded, with a modest asset base. Spreads can run wider than on giant sector funds, which makes limit orders and quiet mid-session windows worth the attention.
  • Launched in October 2024, so the track record is short and any read on its risk behavior rests on limited history.
  • This is a total-return vehicle, not an income one. It has not been paying distributions.

LFSC Holdings

Holdings pillarA71 out of 100Rank 8 of 35 in US Active Sector
Asset class
Stocks
Holdings
38
Top-10 weight
55%
Largest holding
REPL8.7%

Geography

  • United States100.00%
The fund’s holdings, weight-ordered — page 1 of 3.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1REPLReplimune Group Inc8.66%624,720$10.9M59
2LIVNLivaNova PLC6.87%106,141$8.62M131
3COGTCogent Biosciences Inc6.04%237,165$7.58M84
4TVTXTravere Therapeutics Inc5.69%141,257$7.14M114
5GHGuardant Health Inc5.61%37,988$7.04M183
6BLLNBilliontoone Inc4.99%54,505$6.26M33
7CORTCorcept Therapeutics Inc4.76%69,509$5.97M152
8MANEVeraDermics Inc4.28%37,296$5.37M59
9SYRESpyre Therapeutics Inc4.10%51,942$5.14M98
10UTHRUnited Therapeutics Corp3.83%8,095$4.8M270
11MIRMMirum Pharmaceuticals Inc3.44%49,930$4.31M90
12CYTKCytokinetics Inc3.19%63,143$4M138
13ICUIICU Medical Inc2.75%20,489$3.46M113
14TMDXTransMedics Group Inc2.70%50,526$3.39M110
15SVRASavara Inc2.69%682,767$3.38M58

Showing 1–15 of 38 holdings

LFSC Performance

Launched Oct 30, 2024

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

Not enough history yet.Not enough history yet.Not enough history yet.
LFSC$13,264
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. LFSC $13,264. SPY $11,199. Use the arrow keys to read each point.$10,000$12,000$14,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 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 LFSC. Periods over one year show the average yearly return.
PeriodLFSC
Year to date+19.1%
1 month−2.2%
3 months−4.3%
1 year+32.6%
3 yearsFund is under 3 years oldper yearNo data
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

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 LFSC
YearReturn barLFSC
2026 YTD+19.1%
2025+56.5%
2024−6.4%

Since listing, Oct 30, 2024

LFSC in the news

LFSC Dividends

This fund pays no distributions.
No dataLast 12 months
Payout per share
No dataLast 12 months

No distributions in the last 12 months.

LFSC Risk

Risk pillarD32 out of 100Rank 25 of 35 in US Active Sector
How much the fund’s monthly returns vary, scaled to a year.
25.9%
Annualised · 24 months to Oct 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.
1.06
vs 3-month T-bills · 24 months to Oct 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.
−29.7%
24 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.
0.94
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.

FMP measures it over up to five years of monthly returns.

LFSC Cost

Compare LFSC and TRUF

Overpaying vs TRUF, tied cheapest in US Active Sector

$8,614

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • LFSC 0.54%

    $10,720

  • TRUF 0.10% Tied cheapest

    $2,106

$10,000
30 years

Cost over time

  • LFSC 0.54%
  • TRUF 0.10%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2.5K$5K$7.5K$10K$12.5K051015202530LFSC $10,720TRUF $2,106

Year by year

YearLFSCTRUFOverpaying
10$971$183$788
20$3,724$717$3,007
30$10,720$2,106$8,614
How the 0.54% is worked out

Full fee 0.79%− waiver 0.25%= you pay 0.54%

The waiver ends Dec 31, 2026. After that the fee is 0.79% unless Emerald renews it. Source: prospectus, Jan 2026.

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