Skip to content
etf.net

THIR

GradeCNew York Stock Exchange

THOR Index Rotation ETF

Major Indexes · THOR · Inception 2024-09-23

$33.78−0.28 (−0.81%)

As of Sep 23, 2026, 2:20 PM EDT

History starts Sep 24, 2024.
Intraday session: down, 58 prints from 34.06 to 33.78. Range 33.72 to 33.96. Use the arrow keys to read each point.$33.70$33.9010 AM12 PM2 PM4 PM
Expense ratio
0.69%
Fund size
$200M
1Y return
+8.7%
Yield · Last 12 months
0.33%
Volume · 30D
0M sh
NAV per share
$34.05
52W range
low $30.15high $35.00

The ETF.net THIR Grade

C

46/ 100

Rank 14 of 20 in Trend-Following / Tactical Index⁠

Confidence Medium

Six-pillar profile for THIR. Scores out of 100: Cost 29, Risk 48, Mission not scored, Tradability 82, Holdings 39, Durability 57. Strongest: Tradability (82). Weakest: Cost (29). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 46 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.
    DScore 29
    Category rank15/20 · bottom quartile

  • 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 48
    Category rank12/20 · mid-pack

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    AScore 82
    Category rank3/20 · top 15%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    DScore 39
    Category rank16/20 · bottom quartile

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    BScore 57
    Category rank11/20 · mid-pack

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

Our read on THIR

ETF.net Research

CAn index fund with an escape hatch. THIR tracks the THOR SDQ Rotation Index, a rulebook that rotates across US large-cap index ETFs and steps away from the ones in downtrends. Plain beta, plus a trend filter, in one ticker.

Stated mandate

The Fund seeks to track, before fees and expenses, the THOR SDQ Rotation Index. Its rules-based strategy uses U.S. index ETFs to pursue large-cap equity exposure while seeking lower volatility by avoiding indexes and ETFs in downtrends.

Why people hold it

  1. 01The rulebook does the deciding: it rotates among US index ETFs for large-cap exposure and avoids indexes and ETFs in downtrends, rather than leaving the call to a manager's mood.
  2. 02What it holds underneath is vanilla: US index ETFs, large-cap equity, inside a standard 1940 Act fund. The strategy is the wrapper, not the ingredients.
  3. 03One ticker stands in for a do-it-yourself trend rulebook: no personal spreadsheet deciding which index ETF to hold and which to skip this month.

Worth knowing

  1. 01At 0.70% a year it costs well more than plain index trackers such as SCHK (0.03%) or VOOV (0.07%). The rotation rules are what the extra buys.
  2. 02Launched in 2024, so the live record is short and has not yet spanned a full market cycle.
  3. 03Trend rules act after a move is underway, so the fund can be out of an index during the early stretch of a rebound. That is the mechanism working as designed.

THIR Holdings

As of Sep 20, 2026, 10:13 AM
Asset class
Stocks
Holdings
—
Top-10 weight
100%
Largest holding
SPY50.6%

Sectors

Geography

The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001SPYState Street SPDR S&P 500 ETF Trust USD Class50.64%131,150$100M38
002DIAState Street SPDR Dow Jones Industrial Average ETF Trust48.22%184,378$95M17
003BILSPDR Bloomberg 1-3 Month T-Bill ETF USD Class0.99%21,426$2M19
004—Receivables/Payables0.21%407,690$408K41

Showing 1–4 of 4 holdings

THIR Performance

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

THIR$10,871
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. THIR $10,871. SPY $11,723. Use the arrow keys to read each point.$9,353$10,646$11,940Sep 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 THIR. Periods over one year show the average yearly return.
PeriodTHIR
Year to date+5.7%
1 month−0.5%
3 months−0.8%
1 year+8.7%
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 THIR
YearReturn barTHIR
2026 YTD+5.7%
2025+25.2%
2024+3.2%

History from Sep 24, 2024

THIR in the news

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

THIR 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.
0.33%Last 12 months
Payout per share
$0.11Last 12 months
Last payment
$0.11 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Annual

Distribution history

2024–2026

One bar per payment. 2 payments from 2024 to 2026 YTD. Dec 12, 2024 $0.08; Dec 12, 2025 $0.11. Use the arrow keys to read each point.202420252026YTD
Ex-datePay dateAmount per share
Dec 12, 2025Dec 17, 2025$0.11
Dec 12, 2024Dec 17, 2024$0.08

THIR Risk

How much the fund’s monthly returns vary, scaled to a year.
12.3%
Annualised · 23 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.
1.06
vs 3-month T-bills · 23 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.
−10.0%
23 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.
0.77
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.

THIR Cost

Expense ratio0.69%
  • The middle half of Trend-Following / Tactical Index funds
  • Median 0.60%

13 of the 20 Trend-Following / Tactical Index funds charge less.

THIR costs $69.00 a year on $10,000. The median Trend-Following / Tactical Index fund costs $60.00.