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PPI

GradeCNASDAQ Global Market

Astoria Real Assets ETF

Multi-Asset & Alternatives · AXS Investments · Inception 2021-12-29 · SEC filings

$20.46−0.18 (−0.89%)

As of Sep 23, 2026, 3:04 PM EDT

History starts Dec 30, 2021.
Intraday session: down, 34 prints from 20.64 to 20.46. Range 20.43 to 20.56. Use the arrow keys to read each point.$20.50$20.5510 AM12 PM2 PM4 PM
Expense ratio
0.58%
Fund size
$160M
1Y return
+14.8%
Yield · Last 12 months
1.35%
Volume · 30D
0M sh
NAV per share
$20.62
52W range
low $17.71high $22.44

The ETF.net PPI Grade

C

51/ 100

Rank 20 of 38 in Multi-Asset Allocation

Confidence Medium

Six-pillar profile for PPI. Scores out of 100: Cost 51, Risk 23, Mission not scored, Tradability 59, Holdings 81, Durability 60. Strongest: Holdings (81). Weakest: Risk (23). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 51 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.
    CScore 51
    Category rank19/38 · top 50%
  • 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 23
    Category rank30/36 · bottom quartile
  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    BScore 59
    Category rank17/38 · top 45%
  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    AScore 81
    Category rank3/34 · top 9%
  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    BScore 60
    Category rank18/38 · top 47%

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

Our read on PPI

ETF.net Research

CThe ticker is an inflation gauge, and that is the point: an actively managed basket of roughly 40 real-asset holdings that defines success in inflation-adjusted terms instead of against a stock index.

Stated mandate

The Fund seeks long-term capital appreciation in inflation-adjusted terms and normally invests at least 80% of net assets in investments with significant exposure to real assets.

Why people hold it

  1. 01The mandate is unusually explicit: at least 80% of net assets in investments with significant exposure to real assets, with the goal written in inflation-adjusted terms.
  2. 02At 0.60% a year it undercuts the median allocation fund in its peer group, which is rare for an actively managed, thematically built portfolio.
  3. 03Names are chosen on fundamental screens for growth, momentum, quality and value, and the portfolio stays around 40 positions. You can actually read what you own.
  4. 04Plain 1940 Act ETF wrapper, quarterly distributions, and an overall standing in the upper half of its allocation cohort.

Worth knowing

  1. 01It trades lightly. Spreads can run wider than at the giant allocation funds, so order type matters more here than with a household-name ETF.
  2. 02Cheap for its cohort, not cheap outright: index-built peers such as IRTR (0.08%) and AOA (0.19%) charge a fraction. Active real-asset selection is what the extra buys.
  3. 03Roughly 40 holdings tied to real assets means commodity-cycle swings, and with no declared index the portfolio reflects the manager's calls rather than a published rulebook.

PPI Holdings

As of Sep 20, 2026, 6:39 AM
Asset class
Other
Holdings
Top-10 weight
28%
Largest holding
GLDM6.5%

Sectors

  • Industrials26.7%
  • Energy19.8%
  • Utilities17.1%
  • Real Estate15.3%
  • Materials12.2%
  • Financials7.4%
  • Consumer Discr.0.7%
  • Technology0.6%

Geography

  • United States68.74%
  • United Kingdom6.80%
  • Japan6.12%
  • France5.24%
  • Germany4.77%
  • Canada4.33%
  • Switzerland3.16%
  • Ireland0.84%

Developed 100% · Emerging 0% of the foreign sleeve

The fund’s holdings, weight-ordered — page 1 of 6.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001GLDMSPDR GOLD MINISHARES TRUST6.52%120,708$10M16
002GEVGE VERNOVA INC3.02%5,156$5M473
003ABBN.SWABB LTD-REG /CHF/2.68%44,272$4M180
004SHELSHELL PLC-ADR2.46%41,693$4M65
005SPGSIMON PROPERTY GROUP INC2.33%18,198$4M312
006ENGI.PAENGIE /EUR/2.27%132,409$4M133
007VLOVALERO ENERGY CORP2.18%8,450$3M395
008XOMEXXONMOBIL HOLDINGS CORP2.08%20,362$3M501
009EOAN.DEE.ON SE /EUR/2.04%164,024$3M134
010FCXFREEPORT-MCMORAN INC1.99%44,567$3M368
011LMTLOCKHEED MARTIN CORP1.97%5,919$3M406
012ENR.DESIEMENS ENERGY AG /EUR/1.89%18,879$3M165
013AI.PAAIR LIQUIDE SA /EUR/1.88%16,090$3M124
014AEPAMERICAN ELECTRIC POWER1.86%24,879$3M337
015RIORIO TINTO PLC-SPON ADR1.85%30,485$3M49

Showing 1–15 of 84 holdings

PPI Performance

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

PPI$11,475
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. PPI $11,475. SPY $11,723. Use the arrow keys to read each point.$9,304$10,949$12,594Sep 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 PPI. Periods over one year show the average yearly return.
PeriodPPI
Year to date+11.7%
1 month−4.6%
3 months−4.5%
1 year+14.8%
3 years+19.0%per year
5 yearsFund is under 5 years oldper year
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 PPI
YearReturn barPPI
2026 YTD+11.7%
2025+30.1%
2024+7.3%
2023+11.3%
2022+4.1%
2021+0.2%

History from Dec 30, 2021

PPI in the news

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

PPI 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.
1.35%Last 12 months
Payout per share
$0.28Last 12 months
Last payment
$0.12 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution history

2022–2026

One bar per payment. 17 payments from 2022 to 2026 YTD. Jun 24, 2022 $0.12; Sep 26, 2022 $0.08; Dec 19, 2022 $0.10; Mar 24, 2023 $0.12; Jun 26, 2023 $0.11; Sep 26, 2023 $0.09; Dec 26, 2023 $0.07; Mar 25, 2024 $0.04; Jun 26, 2024 $0.05; Sep 26, 2024 $0.07; Dec 26, 2024 $0.05; Mar 26, 2025 $0.04; Jun 25, 2025 $0.06; Sep 26, 2025 $0.05; Dec 23, 2025 $0.05; Mar 25, 2026 $0.06; Jun 25, 2026 $0.12. Use the arrow keys to read each point.20222023202420252026YTD
Ex-datePay dateAmount per share
Jun 25, 2026Jun 29, 2026$0.12
Mar 25, 2026Mar 27, 2026$0.06
Dec 23, 2025Dec 26, 2025$0.05
Sep 26, 2025Sep 30, 2025$0.05
Jun 25, 2025Jun 27, 2025$0.06
Mar 26, 2025Mar 28, 2025$0.04
Dec 26, 2024Dec 30, 2024$0.05
Sep 26, 2024Sep 30, 2024$0.07
Jun 26, 2024Jun 28, 2024$0.05
Mar 25, 2024Mar 28, 2024$0.04
Dec 26, 2023Dec 29, 2023$0.07
Sep 26, 2023Sep 29, 2023$0.09

PPI Risk

How much the fund’s monthly returns vary, scaled to a year.
14.7%
Annualised · 36 months to Aug 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.
0.94
vs 3-month T-bills · to Aug 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.
−24.6%
56 months · trough Jul 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.
1.15
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.

PPI Cost

Expense ratio0.58%
  • The middle half of Multi-Asset Allocation funds
  • Median 0.58%

18 of the 37 Multi-Asset Allocation funds charge less.

PPI costs $58.00 a year on $10,000. The median Multi-Asset Allocation fund costs $58.00.