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PFOE

GradeCNASDAQ Global Market

Pathfinder Focused Opportunities ETF

Active Equity · Pathfinder · Inception 2025-12-30 · SEC filings

$22.14−0.24 (−1.08%)

As of Sep 23, 2026, 2:13 PM EDT

History starts Dec 31, 2025.History starts Dec 31, 2025.
Intraday session: down, 19 prints from 22.38 to 22.14. Range 22.14 to 22.29. Use the arrow keys to read each point.$22.20$22.25$22.3010 AM12 PM2 PM4 PM
Expense ratio
0.59%
Fund size
$86M
1Y return
—
Yield · Last 12 months
Data unavailable
Volume · 30D
0M sh
NAV per share
$22.11
52W range
low $21.49high $26.34

The ETF.net PFOE Grade

C

50/ 100

Rank 20 of 44 in Global Active Equity⁠

Confidence Medium

Six-pillar profile for PFOE. Scores out of 100: Cost 60, Risk 11, Mission not scored, Tradability 76, Holdings 43, Durability 52. Strongest: Tradability (76). Weakest: Risk (11). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 50 of 100 sits in the C 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 rank18/44 · top 41%

  • 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.
    FScore 11
    Category rank41/42 · bottom quartile

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    AScore 76
    Category rank7/44 · top 16%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    CScore 43
    Category rank28/43 · mid-pack

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    CScore 52
    Category rank27/44 · mid-pack

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

Our read on PFOE

ETF.net Research

CConcentration is the whole idea: 15 to 30 US stocks the adviser judges high quality with long growth runways, at 0.59% a year. A late-2025 launch whose outcome rides on individual picks rather than index exposure.

Stated mandate

The Fund seeks long-term capital appreciation. It is actively managed and normally invests in 15–30 equity securities of companies the Adviser considers high quality with significant long-term growth potential.

Why people hold it

  1. 01Actually concentrated. The mandate is normally 15 to 30 US equities, so each holding carries real weight instead of being diluted into a quasi-index.
  2. 02At 0.59% a year it sits below the median fee for active US equity ETFs, which is not typical for a small, high-conviction shop.
  3. 03The advertised screen leans on growth, profitability and quality: compounders with long runways, not bargain-bin turnarounds.
  4. 04Trades moderately rather than thinly, which is worth something in a fund still building its asset base.

Worth knowing

  1. 01A 15 to 30 stock book cuts both ways. One holding's bad quarter lands on the whole portfolio with nothing to cushion it.
  2. 02Launched at the end of 2025 with no index behind it, so there is little history and no benchmark rulebook to check the manager against.
  3. 03Systematic rivals cost far less (DFAU at 0.12%, AVLC at 0.15%). The 0.59% here buys human stock selection, not plain market exposure.

PFOE Holdings

As of Sep 20, 2026, 9:28 AM
Asset class
Stocks
Holdings
—
Top-10 weight
54%
Largest holding
TSM7.1%

Geography

  • United States53.95%
  • Netherlands15.53%
  • Taiwan (Province of China)7.15%
  • Sweden5.82%
  • Uruguay5.70%
  • France4.30%
  • Brazil3.92%
  • Canada3.64%

Developed 64% · Emerging 36% of the foreign sleeve

The fund’s holdings, weight-ordered — page 1 of 2.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001TSMTaiwan Semiconductor Manufacturing Co Ltd7.10%14,093$6M268
002ASMLASML Holding NV6.40%3,283$6M199
003SPOTSpotify Technology SA5.78%9,791$5M138
004MELIMercadoLibre Inc5.66%2,730$5M225
005GOOGAlphabet Inc5.12%12,823$4M471
006FERFerrovial NV4.94%77,466$4M53
007UBERUber Technologies Inc4.89%59,759$4M424
008IDXXIDEXX Laboratories Inc4.87%8,199$4M361
009NFLXNetflix Inc4.67%56,038$4M493
010ISRGIntuitive Surgical Inc4.54%9,959$4M406
011UNHUnitedHealth Group Inc4.46%10,213$4M474
012LLYEli Lilly & Co4.35%3,251$4M569
013HESAYHermes International SCA4.27%24,218$4M5
014UNVGYUniversal Music Group NV4.08%418,974$4M6
015NUNU Holdings Ltd/Cayman Islands3.89%245,809$3M151

Showing 1–15 of 24 holdings

PFOE Performance

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

PFOE$9,001
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. PFOE $9,001. SPY $11,430. Use the arrow keys to read each point.$8,413$10,054$11,694Dec 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 PFOE. Periods over one year show the average yearly return.
PeriodPFOE
Year to date−10.0%
1 month−4.9%
3 months−1.9%
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 PFOE
YearReturn barPFOE
2026 YTD−10.0%

PFOE in the news

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

PFOE 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
$0.04 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 $0.01; Jun 29, 2026 $0.04. Use the arrow keys to read each point.2026YTD
Ex-datePay dateAmount per share
Jun 29, 2026Jun 30, 2026$0.04
Mar 30, 2026Mar 31, 2026$0.01

PFOE 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.
0.76
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.

PFOE Cost

Expense ratio0.59%
  • The middle half of Global Active Equity funds
  • Median 0.69%

17 of the 44 Global Active Equity funds charge less.

PFOE costs $59.00 a year on $10,000. The median Global Active Equity fund costs $69.00.