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Launched · SEC filings

Ballast Small/Mid Cap ETF

MGMTNYSE ArcaD

$49.14+0.07 (+0.14%)

As of Oct 13, 2026, 3:59 PM

D31/ 100

Rank 38 of 48 in US Active Small/Mid-Cap

D31/100Rank 38 of 48inUS Active Small/Mid-Cap
Intraday session: up, 74 prints from 49.07 to 49.14. Range 48.91 to 49.34. Use the arrow keys to read each point.48.9049.0049.2049.3010 AM12 PM2 PM4 PM
Expense ratio
1.17%
Fund size
$165M
1Y total return
+16.3%
Yield · Last 12 months
0.31%
Holdings
54
Avg volume · 30D
0M sh
NAV per share
$49.17
52W range
low $40.77high $52.30
Launched
Filings
SEC EDGAR

The ETF.net MGMT Grade

Based on 5 of 6 pillars

D

Score 31 out of 100

Category
US Active Small/Mid-Cap⁠
Rank
38 of 48
Six-pillar profile for MGMT. Scores out of 100: Cost 2, Risk 43, Mission not scored, Tradability 67, Holdings 33, Durability 64. Strongest: Tradability (67). Weakest: Cost (2). Based on 5 of 6 pillars.

Score 31 of 100 falls in the D 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.
    F2 out of 100
    Rank 47 of 48

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    C43 out of 100
    Rank 28 of 44

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    B67 out of 100
    Rank 10 of 48

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    D33 out of 100
    Rank 42 of 48

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    B64 out of 100
    Rank 14 of 48

Our read on MGMT

ETF.net Research

DA boutique, hand-picked take on US small and mid caps. Ballast's managers hunt companies they judge underpriced against their growth, in a corner of the market where cheap index trackers do most of the volume.

Stated mandate

The fund seeks long-term growth by investing primarily in equity securities of small and midsize U.S. companies that the adviser considers underpriced relative to their expected growth.

Why people hold it

  1. 01Genuinely active, not an index in disguise. The mandate is stock-by-stock: US small and midsize companies the adviser considers underpriced relative to their expected growth.
  2. 02Different lane from its category's heavyweights. The largest active US equity ETFs (DFAU, DFAC, AVLC) sit in large-cap core; MGMT works the smaller, less-covered end of the market.
  3. 03Live since December 2020, so it carries a multi-year record through a full rate cycle inside a standard 1940 Act ETF wrapper.

Worth knowing

  1. 01Costs 1.10% a year, roughly double the typical active US equity ETF. That is a real annual hurdle the stock picking has to clear.
  2. 02Small fund, light tape. It trades thinly next to the category's giants, so spreads can widen and limit orders matter more than they would in a mega-fund.
  3. 03No index to grade it against. Results ride on the manager's judgment about what is underpriced, which is harder to monitor than a rules-based portfolio.

MGMT Holdings

As of Oct 13, 2026
Asset class
Stocks
Holdings
54
Top-10 weight
32%
Largest holding
NRP4.8%

Sectors

  • Industrials25.1%
  • Technology16.5%
  • Energy14.5%
  • Financials12.4%
  • Materials9.8%
  • Consumer Discretionary7.6%
  • Health Care6.5%
  • Consumer Staples3.1%
  • Communication3.1%
  • Real Estate1.4%

Geography

  • United States94.49%
  • Bermuda2.45%
  • France1.59%
  • Canada1.48%
The fund’s holdings, weight-ordered — page 1 of 4.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001NRPNatural Resource Partners, L.P.4.80%71,089$8M19
002CLMBClimb Global Solutions, Inc.4.63%229,027$8M57
003CBNKCapital Bancorp, Inc.3.11%133,015$5M54
004AGMFederal Agricultural Mortgage Corporation3.04%24,572$5M88
005AZZAZZ, Inc.3.03%36,510$5M136
006CVCOCavco Industries, Inc.2.66%8,230$4M121
007PAYSPaysign, Inc.2.66%284,936$4M61
008MBINMerchants Bancorp2.62%88,211$4M97
009KOSKosmos Energy Ltd.2.56%1,597,310$4M78
010CCSIConsensus Cloud Solutions, Inc.2.43%109,126$4M73
011GGenpact Ltd.2.41%115,154$4M197
012SEISolaris Energy Infrastructure, Inc.2.36%50,913$4M121
013MTUSMetallus, Inc.2.30%189,671$4M92
014LSTRLandstar System, Inc.2.28%22,172$4M174
015GEOGEO Group, Inc. (The)2.26%119,806$4M93

Showing 1–15 of 54 holdings

MGMT Performance

Launched Dec 2, 2020

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.
MGMT$11,631
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$12,044
Oct 10, 2025 to Oct 12, 2026. MGMT $11,631. SPY $12,044. Use the arrow keys to read each point.$9,409$11,006$12,602Oct 2025Apr 2026Oct 2026

Oct 10, 2025 – Oct 12, 2026

Returns run to the Oct 12, 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 MGMT. Periods over one year show the average yearly return.
PeriodMGMT
Year to date+10.7%
1 month−2.6%
3 months−2.1%
1 year+16.3%
3 yearsper year+14.0%
5 yearsper year+6.8%
10 yearsFund is under 10 years oldper 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 MGMT
YearReturn barMGMT
2026 YTD+10.7%
2025+7.0%
2024+12.9%
2023+17.9%
2022−14.5%
2021+40.8%
2020+5.4%

History from Dec 3, 2020

MGMT in the news

Filtered to MGMT · US Active Small/Mid-Cap

MGMT 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 Oct 12, 2026.
0.31%Last 12 months
Payout per share
$0.15Last 12 months
Last payment
$0.15 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Annual

Distribution history

2021–2026

One bar per payment. 5 payments from 2021 to 2026 YTD. Dec 30, 2021 $0.10; Dec 29, 2022 $0.29; Dec 28, 2023 $0.43; Dec 30, 2024 $0.21; Dec 30, 2025 $0.15. Use the arrow keys to read each point.202120222023202420252026YTD
Ex-datePay dateAmount per share
Dec 30, 2025Jan 5, 2026$0.15
Dec 30, 2024Jan 6, 2025$0.21
Dec 28, 2023Jan 3, 2024$0.43
Dec 29, 2022Jan 5, 2023$0.29
Dec 30, 2021Jan 5, 2022$0.10

MGMT Risk

How much the fund’s monthly returns vary, scaled to a year.
17.5%
Annualised · 36 months to Sep 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.
0.52
vs 3-month T-bills · to Sep 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%
Trough Sep 2022
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.
0.89
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.

MGMT Cost

Expense ratio1.17%
  • The middle half of US Active Small/Mid-Cap funds
  • Median 0.59%

45 of the 47 US Active Small/Mid-Cap funds charge less.

MGMT costs $117.00 a year on $10,000. The median US Active Small/Mid-Cap fund costs $59.00.

Other funds in US Active Small/Mid-Cap

See others