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MANI

GradeDNew York Stock Exchange Arca

Man Active Income ETF

High Yield Bond · Man Group · Inception 2025-09-16

$26.23−0.04 (−0.13%)

As of Sep 23, 2026, 11:18 AM EDT

History starts Sep 18, 2025.
Intraday session: down, 2 prints from 26.27 to 26.23. Range 26.23 to 26.27. Use the arrow keys to read each point.$26.24$26.25$26.26$26.2710 AM12 PM2 PM4 PM
Expense ratio
0.85%
Fund size
$25M
1Y return
+9.0%
Yield · Last 12 months
Data unavailable
Volume · 30D
0M sh
NAV per share
$26.12
52W range
low $24.85high $26.29

The ETF.net MANI Grade

D

29/ 100

Rank 77 of 85 in US High Yield⁠

Confidence High

Six-pillar profile for MANI. Scores out of 100: Cost 4, Risk 86, Mission 35, Tradability 13, Holdings 33, Durability 24. Strongest: Risk (86). Weakest: Cost (4). Leans toward Risk.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 29 of 100 sits in the D 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 4
    Category rank82/85 · bottom quartile

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    DScore 35
    Category rank65/74 · bottom quartile

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    AScore 86
    Category rank1/85 · top 1%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    FScore 13
    Category rank83/85 · bottom quartile

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    DScore 33
    Category rank71/85 · bottom quartile

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    FScore 24
    Category rank80/85 · bottom quartile

Graded as of Sep 22, 2026

Our read on MANI

ETF.net Research

DAn income-first bond fund that runs on a manager's credit calls, not an index. Launched in 2025 into a high yield aisle dominated by ultra-cheap trackers, it is the active alternative, and priced like one.

Stated mandate

The Fund seeks current income, while capital growth is secondary.

Why people hold it

  1. 01Actively run with a clear hierarchy: current income first, capital growth second. No index to shadow, so the manager can move around the credit market.
  2. 02Pays income quarterly, with the prospectus committing to distributions at least annually.
  3. 03Plain 1940 Act fund structure: ordinary 1099 tax reporting, no K-1 to wait on.
  4. 04Its price swings so far sit among the steadier in the high yield group, though that read comes from a short history.

Worth knowing

  1. 01The fee is 0.85% a year, roughly double the typical high yield ETF, and index heavyweights like SPHY, USHY and SCYB charge a small fraction of that.
  2. 02A 2025 launch that is still small and thinly traded, so bid-ask spreads can be wide and every order moves a bigger share of the day's volume.
  3. 03Nothing here is on autopilot. Results hang on the manager's credit selection, and the fund has not yet seen a full credit cycle.

MANI Holdings

As of Sep 20, 2026, 9:03 AM
Asset class
Other
Holdings
—
Top-10 weight
31%
Largest holding
DIGICEL INTERNATIONAL FI 08/06/32 Term Loan4.0%

Geography

  • United States74.27%
  • Norway13.42%
  • Sweden5.51%
  • Spain4.48%
  • Australia1.44%
  • Canada0.88%
The fund’s holdings, weight-ordered — page 1 of 6.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—DIGICEL INTERNATIONAL FI 08/06/32 Term Loan4.03%997,500$1M1
002—GB AIT 04/29/33 Term Loan4.00%1,000,000$1M1
003—LOAN TEAM SERVICES HOLDING IN 01/31/33 TERM LOAN4.00%1,000,000$1M2
004—BREAD FINANCIAL HLDGS3.52%35,675$882K2
005—IVYH 7X ER3 FRN 10/15/20363.19%800,000$799K1
006—CERDIA FINANZ GMBH 9.375 10/3/20312.90%800,000$728K2
007—JCPDL 2025-2X E FRN 1/20/20382.59%650,000$648K1
008—SIRIUSPOINT LTD FRN 9/22/20472.44%6,000,000$612K2
009—YINSON PRODUCTION FINANC 9.625 5/3/20292.10%500,000$527K4
010—FUTURE PLC 6.75 7/10/20302.06%406,000$518K2
011—GAINWELL ACQUISITION 08/19/31 Term Loan2.01%500,000$505K2
012—MAIN STREET CAPITAL CORP 6.5 6/4/20272.01%500,000$503K7
013—CAVALIER ACQUISITION CORP 08/11/33 Term Loan2.00%500,000$501K1
014—CI FINANCIAL CORP 4.1 6/15/20511.97%764,000$494K26
015—TREASURY BILL 0 1/14/20271.97%500,000$493K8

Showing 1–15 of 80 holdings

MANI Performance

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

MANI$10,903
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. MANI $10,903. SPY $11,723. Use the arrow keys to read each point.$9,353$10,646$11,940Sep 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 MANI. Periods over one year show the average yearly return.
PeriodMANI
Year to date+6.9%
1 month+0.9%
3 months+2.6%
1 year+9.0%
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 MANI
YearReturn barMANI
2026 YTD+6.9%
2025+2.4%

History from Sep 18, 2025

MANI in the news

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

MANI 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
$0.38 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 16, 2025 $0.75; Mar 25, 2026 $0.07; Jun 24, 2026 $0.38. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Jun 24, 2026Jun 30, 2026$0.38
Mar 25, 2026Mar 31, 2026$0.07
Dec 16, 2025Dec 31, 2025$0.75

MANI Risk

How much the fund’s monthly returns vary, scaled to a year.
—
No data available
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.
—
No data available
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.
−0.7%
12 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.
0.17
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.

MANI Cost

Expense ratio0.85%
  • The middle half of US High Yield funds
  • Median 0.43%

79 of the 84 US High Yield funds charge less.

MANI costs $85.00 a year on $10,000. The median US High Yield fund costs $43.50.