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Launched · SEC filings

Unusual Whales Subversive Democratic Trading ETF

NANCCboeSubversiveC

$49.78−0.24 (−0.48%)

As of Nov 2, 2026, 3:59 PM ET

C47/ 100

Rank 67 of 126 in US Active Equity

C47/100Rank 67 of 126inUS Active Equity
Intraday session: down, 79 prints from 50.02 to 49.78. Range 49.78 to 50.70. Use the arrow keys to read each point.50.2050.4050.6010 AM12 PM2 PM4 PM
Expense ratio
0.72%
Fund size
$291M
1Y total return
+8.3%
Yield · Last 12 months
0.19%
Holdings
87
Avg volume · 30D
15.6K sh
52W range
low $40.78high $53.72
Launched
Filings
SEC EDGAR

The ETF.net NANC Grade

Based on 5 of 6 pillars

C

Score 47 out of 100

Category
US Active Equity⁠
Rank
67 of 126
Six-pillar profile for NANC. Scores out of 100: Cost 43, Risk 44, Mission not scored, Tradability 52, Holdings 54, Durability 66. Strongest: Durability (66). Weakest: Cost (43). Based on 5 of 6 pillars.

Score 47 of 100 falls in the C 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.
    C43 out of 100
    Rank 72 of 126

  • 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.
    C44 out of 100
    Rank 79 of 126

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    C52 out of 100
    Rank 52 of 126

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    C54 out of 100
    Rank 70 of 124

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    B66 out of 100
    Rank 41 of 126

Our read on NANC

ETF.net Research

In short

CCongress has to disclose its stock trades. NANC turns the Democratic half of that paperwork into a portfolio, leaning hardest on the names bought biggest, bought most often, and bought by the most lawmakers.

Stated mandate

The Fund seeks long-term capital appreciation.

Why people hold it

  • Holdings come from the periodic transaction reports Democratic members of Congress and their spouses or dependent children file under the STOCK Act. The source paperwork is public.subversiveetfs.comsec.gov
  • Weighting follows a stated rule: stocks bought in size, bought repeatedly, or bought by several lawmakers get overweighted, rather than every filing counting the same.sec.gov
  • Launched in February 2023 as one half of a matched pair, with Republican-side KRUZ registered beside it. Same playbook, opposite side of the aisle.sec.gov
  • The fee is 0.72% gross and net, with no waiver propping it up, so there is no expiry date to diary. That sits near the going rate for active US equity ETFs.

Worth knowing

  • The data is late by law. Reports are due within 30 days of a lawmaker learning of a trade and no later than 45 days after it, so the portfolio reflects older moves.subversiveetfs.com
  • Cost is active-manager pricing: 0.72% against broad core rivals like DFAU at 0.12% or AVLC at 0.15%. You are paying for the disclosure dataset, not for index beta.
  • Shares change hands lightly, so the bid-ask gap can run wider than on a heavily traded index fund.

NANC Performance

Launched Feb 6, 2023

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.
NANC$10,833
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. NANC $10,833. SPY $11,199. Use the arrow keys to read each point.$9,000$10,000$11,000Oct 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 NANC. Periods over one year show the average yearly return.
PeriodNANC
Year to date+9.6%
1 month−4.7%
3 months+0.4%
1 year+8.3%
3 yearsper year+24.1%
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 NANC
YearReturn barNANC
2026 YTD+9.6%
2025+18.5%
2024+26.8%
2023+20.8%

History from Feb 7, 2023

NANC in the news

NANC 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 30, 2026.
0.19%Last 12 months
Payout per share
$0.10Last 12 months
Last payment
$0.10 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Annual

Distribution history

2023–2026

One bar per payment. 3 payments from 2023 to 2026 YTD. Dec 19, 2023 $0.29; Dec 27, 2024 $0.08; Dec 26, 2025 $0.10. Use the arrow keys to read each point.2023202420252026YTD
Ex-datePay dateAmount per share
Dec 26, 2025Dec 29, 2025$0.10
Dec 27, 2024Dec 30, 2024$0.08
Dec 19, 2023Dec 21, 2023$0.29

$10,000 in NANC 3 years ago paid $167 in dividends.

NANC Risk

Risk pillarC44 out of 100Rank 79 of 126 in US Active Equity
How much the fund’s monthly returns vary, scaled to a year.
15.2%
Annualised · 36 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.
1.21
vs 3-month T-bills · 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.
−20.9%
44 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.
1.13
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.

NANC Cost

Compare NANC and TACU

Overpaying vs TACU, cheapest in US Active Equity

$13,957

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

  • NANC 0.72%

    $13,957

  • TACU 0.00% Cheapest

    $0

$10,000
30 years

Cost over time

  • NANC 0.72%
  • TACU 0.00%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K051015202530NANC $13,957TACU $0

Year by year

YearNANCTACUOverpaying
10$1,284$0$1,284
20$4,888$0$4,888
30$13,957$0$13,957

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