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RVER

GradeCNew York Stock Exchange Arca

Trenchless Fund ETF

Active Equity · River1 Asset Management · Inception 2024-04-03

$37.59−0.34 (−0.91%)

As of Sep 23, 2026, 2:16 PM EDT

History starts Apr 3, 2024.
Intraday session: down, 8 prints from 37.93 to 37.59. Range 37.36 to 37.90. Use the arrow keys to read each point.$37.40$37.8010 AM12 PM2 PM4 PM
Expense ratio
0.65%
Fund size
$149M
1Y return
+15.5%
Yield · Last 12 months
Data unavailable
Volume · 30D
0M sh
NAV per share
$37.54
52W range
low $26.34high $39.45

The ETF.net RVER Grade

C

41/ 100

Rank 77 of 127 in US Active Equity⁠

Confidence Medium

Six-pillar profile for RVER. Scores out of 100: Cost 54, Risk 16, Mission not scored, Tradability 47, Holdings 33, Durability 46. Strongest: Cost (54). Weakest: Risk (16). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 41 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 54
    Category rank60/127 · top 47%

  • 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 16
    Category rank118/126 · bottom quartile

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    CScore 47
    Category rank70/127 · mid-pack

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    DScore 33
    Category rank106/124 · bottom quartile

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    CScore 46
    Category rank82/127 · mid-pack

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

Our read on RVER

ETF.net Research

CA stock picker's fund in an aisle stacked with thousand-name quant portfolios: RVER runs a compact, non-diversified book of US-listed stocks, chosen one by one and measured against the S&P 500. Conviction over coverage.

Stated mandate

The Fund seeks capital appreciation. The available current prospectus evidence does not establish a sufficiently specific underlying, geography, sector, factor screen, or strategy descriptor for a supplied cohort.

Why people hold it

  1. 01Genuinely active: a compact, non-diversified portfolio of US-listed stocks chosen one at a time, so it can look nothing like the S&P 500.aaii.com
  2. 02Costs 0.65%, right at the median for active US equity funds, not the premium a high-conviction portfolio could ask for.
  3. 03Conventional plumbing: a series of the Advisor Managed Portfolios trust, advised by Sound Capital Solutions with River1 sub-advising, listed on NYSE Arca.sec.gov

Worth knowing

  1. 01Concentration cuts both ways. In a non-diversified book of a couple dozen names, one stock can move the whole fund.aaii.com
  2. 02The mandate stays broad (capital appreciation from any US-listed equity, no sector or rules screen locked in), and it launched in 2024, so the record is short.
  3. 03Trades thinly for its category, so spreads can run wider than on the household names inside it. Limit orders matter more here.

RVER Holdings

As of Sep 20, 2026, 10:17 AM
Asset class
Stocks
Holdings
—
Top-10 weight
68%
Largest holding
First American Government Obligations Fund 12/01/203112.9%

Geography

The fund’s holdings, weight-ordered — page 1 of 2.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—First American Government Obligations Fund 12/01/203112.87%18,870,496$19M625
002HPEHewlett Packard Enterprise Co8.21%198,187$12M379
003NVDANVIDIA Corp7.82%51,607$11M828
004SOFISoFi Technologies Inc7.69%665,330$11M163
005IBRXImmunityBio Inc5.94%1,027,244$9M74
006ORCLOracle Corp5.69%56,499$8M448
007BEBloom Energy Corp5.61%30,949$8M304
008AVGOBroadcom Inc5.25%21,574$8M732
009GNRCGenerac Holdings Inc4.76%33,631$7M215
010METAMeta Platforms Inc4.66%10,264$7M683
011FSLRFirst Solar Inc4.52%33,850$7M325
012FLEXFlex Ltd3.99%53,920$6M305
013EQTEQT Corp3.59%105,348$5M320
014CDECOEUR MINING INC.3.30%244,568$5M206
015NOWServiceNow Inc3.13%33,866$5M426

Showing 1–15 of 20 holdings

RVER Performance

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

RVER$11,552
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. RVER $11,552. SPY $11,723. Use the arrow keys to read each point.$7,705$9,883$12,062Sep 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 RVER. Periods over one year show the average yearly return.
PeriodRVER
Year to date+23.0%
1 month+4.4%
3 months+8.5%
1 year+15.5%
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 RVER
YearReturn barRVER
2026 YTD+23.0%
2025+5.7%
2024+17.7%

Since listing, Apr 3, 2024

RVER in the news

RVER 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
$0.53 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Irregular

Distribution data unavailable.

Distribution history

2025–2026

One bar per payment. 1 payment from 2025 to 2026 YTD. Dec 17, 2025 $0.53. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Dec 17, 2025Dec 18, 2025$0.53

RVER Risk

How much the fund’s monthly returns vary, scaled to a year.
21.4%
Annualised · 28 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.
0.75
vs 3-month T-bills · 28 months 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.
−26.2%
29 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.
1.49
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.

RVER Cost

Expense ratio0.65%
  • The middle half of US Active Equity funds
  • Median 0.70%

55 of the 124 US Active Equity funds charge less.

RVER costs $65.00 a year on $10,000. The median US Active Equity fund costs $70.00.