Launch Roundup
Subversive ETFs listed S&P 500 and Nasdaq-100 funds that exclude Elon Musk's companies
Astoria Real Assets ETF
$20.47+0.07 (+0.33%)
- 0.58%
- $159M
- +12.3%
- 1.44%
- 0M sh
- $20.40
- low $17.71high $22.44
The ETF.net PPI Grade
C
Score 48 out of 100
- 24 of 37
Score 48 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.C50 out of 100Rank 19 of 37Mission
Whether the fund did what it promised, tested against its stated mandate.Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.F19 out of 100Rank 30 of 35Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.C46 out of 100Rank 22 of 37Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.A83 out of 100Rank 1 of 33Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.B59 out of 100Rank 18 of 37
Our read on PPI
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.
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
- The 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.
- At 0.60% a year it undercuts the median allocation fund in its peer group, which is rare for an actively managed, thematically built portfolio.
- Names 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.
- Plain 1940 Act ETF wrapper, quarterly distributions, and an overall standing in the upper half of its allocation cohort.
Worth knowing
- It trades lightly. Spreads can run wider than at the giant allocation funds, so order type matters more here than with a household-name ETF.
- Cheap 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.
- Roughly 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
- Other
- 85
- 27%
- GLDM
Sectors
- Industrials34.2%
- Energy20.9%
- Materials19.3%
- Financials8.4%
- Real Estate7.9%
- Utilities7.7%
- Consumer Discretionary1.4%
Geography
- United States62.90%
- Japan6.51%
- United Kingdom5.67%
- Canada5.59%
- France5.23%
- Switzerland4.09%
- Germany2.72%
- Australia2.40%
- 4.90%
Developed 98% · Emerging 2%
PPI Performance
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.
PPI$11,228
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.
| Period | PPI |
|---|---|
| Year to date | +10.8% |
| 1 month | −2.9% |
| 3 months | −2.5% |
| 1 year | +12.3% |
| 3 years | +18.7% |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | PPI |
|---|---|---|
| 2026 YTD | +10.8% | |
| 2025 | +30.1% | |
| 2024 | +7.3% | |
| 2023 | +11.3% | |
| 2022 | +4.1% | |
| 2021 | +0.2% |
PPI in the news
PPI Dividends
- 1.44%
- $0.29
- $0.07 per share
- Quarterly
Distribution history
PPI Risk
- 15.0%
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.
- 0.86
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.
- −24.6%
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.
- 1.15
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
0.58%
PPI0.58%
- The middle half of Multi-Asset Allocation funds
- Median 0.58%
18 of the 37 Multi-Asset Allocation funds charge less.
Other funds in Multi-Asset Allocation
- CGDMAGadsden Dynamic Multi-Asset ETFExpense ratio 0.75%1 year return +10.7%
- CCSRACohen & Steers Real Assets Active ETFExpense ratio 0.80%1 year return —
- CSPLSPIMCO US Stocks PLUS Active Bond ETFExpense ratio 0.43%1 year return —
- CFDATTactical Advantage ETFExpense ratio 0.74%1 year return +5.3%
- CHECAHedgeye Capital Allocation ETFExpense ratio 0.81%1 year return +0.5%