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PFDE

GradeBNASDAQ Global Market

Pathfinder Disciplined US Equity ETF

Active Equity · Pathfinder · Inception 2025-12-30

$28.45−0.26 (−0.92%)

As of Sep 23, 2026, 2:19 PM EDT

History starts Dec 31, 2025.History starts Dec 31, 2025.
Intraday session: down, 21 prints from 28.71 to 28.45. Range 28.36 to 28.58. Use the arrow keys to read each point.$28.40$28.50$28.6010 AM12 PM2 PM4 PM
Expense ratio
0.59%
Fund size
$169M
1Y return
—
Yield · Last 12 months
Data unavailable
Volume · 30D
0M sh
NAV per share
$28.29
52W range
low $22.76high $29.09

The ETF.net PFDE Grade

B

59/ 100

Rank 46 of 127 in US Active Equity⁠

Confidence Medium

Six-pillar profile for PFDE. Scores out of 100: Cost 60, Risk 52, Mission not scored, Tradability 62, Holdings 65, Durability 50. Strongest: Holdings (65). Weakest: Durability (50). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 59 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.
    BScore 60
    Category rank51/127 · top 40%

  • 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.
    CScore 52
    Category rank64/126 · mid-pack

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    BScore 62
    Category rank41/127 · top 32%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    BScore 65
    Category rank53/124 · top 43%

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    CScore 50
    Category rank71/127 · mid-pack

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

Our read on PFDE

ETF.net Research

BA US stock fund run on a risk budget: how much risk each factor, sector and stock is allowed to consume gets capped first, and the stock picking happens inside those limits. It opened at the end of 2025, so the record is still short.

Stated mandate

The Fund seeks long-term capital appreciation. It is actively managed and normally invests at least 80% of net assets in equity securities of companies listed on a U.S. exchange, using factor-, sector-, and stock-level risk budgeting.

Why people hold it

  1. 01At 0.59%, it comes in under the typical actively managed US equity fund, so the active bet starts from a lower cost hurdle.
  2. 02Risk budgets at the factor, sector and stock level decide how much risk any position may consume. At least 80% of net assets stays in US exchange-listed equities.
  3. 03A plain 1940 Act equity fund, actively managed and US-only: no index to drift from, no exotic wrapper to explain at tax time.
  4. 04Arriving late into a crowded active US equity field, it still lands in the upper half of that peer group on cost, trading and portfolio construction.

Worth knowing

  1. 01Systematic rivals do factor-aware US equity for a fraction of the fee: DFAU at 0.12%, AVLC at 0.15%, DFAC at 0.17%, DYNF at 0.26%.
  2. 02It launched on the last day of 2025, so risk and behavior readings rest on a brief history rather than a full market cycle.
  3. 03Small, not one of the heavily traded names in its category, and distributions arrive only once or twice a year rather than monthly.

PFDE Holdings

As of Sep 20, 2026, 9:28 AM
Asset class
Stocks
Holdings
—
Top-10 weight
43%
Largest holding
NVDA9.9%

Geography

  • United States99.18%
  • Singapore0.82%
The fund’s holdings, weight-ordered — page 1 of 6.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001NVDANVIDIA Corp9.94%74,871$17M828
002AAPLApple Inc6.62%32,968$11M707
003AMZNAmazon.com Inc5.18%34,185$9M720
004MSFTMicrosoft Corp4.89%16,599$8M792
005MUMicron Technology Inc3.31%5,461$6M655
006GOOGLAlphabet Inc3.09%14,786$5M704
007AVGOBroadcom Inc2.66%12,493$4M732
008JNJJohnson & Johnson2.39%14,841$4M521
009MAMastercard Inc2.39%7,080$4M512
010GOOGAlphabet Inc2.31%11,210$4M471
011CCitigroup Inc2.14%27,160$4M407
012MRKMerck & Co Inc2.05%23,344$3M506
013AMDAdvanced Micro Devices Inc1.82%5,435$3M618
014BKNGBooking Holdings Inc1.73%17,252$3M432
015BACBank of America Corp1.62%46,890$3M440

Showing 1–15 of 89 holdings

PFDE Performance

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

PFDE$11,544
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. PFDE $11,544. SPY $11,430. Use the arrow keys to read each point.$8,945$10,399$11,854Dec 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 PFDE. Periods over one year show the average yearly return.
PeriodPFDE
Year to date+15.4%
1 month+1.0%
3 months+2.7%
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 PFDE
YearReturn barPFDE
2026 YTD+15.4%

PFDE in the news

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

PFDE 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
$0.02 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution data unavailable.

Distribution history

2026

One bar per payment. 2 payments in 2026 YTD. Mar 30, 2026 $0.03; Jun 29, 2026 $0.02. Use the arrow keys to read each point.2026YTD
Ex-datePay dateAmount per share
Jun 29, 2026Jun 30, 2026$0.02
Mar 30, 2026Mar 31, 2026$0.03

PFDE 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.
1.14
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.

PFDE Cost

Expense ratio0.59%
  • The middle half of US Active Equity funds
  • Median 0.70%

49 of the 124 US Active Equity funds charge less.

PFDE costs $59.00 a year on $10,000. The median US Active Equity fund costs $70.00.