Skip to content
etf.net

Launched · SEC filings

Main Thematic Innovation ETF

TMATCboeMain ManagementD

$26.50−0.81 (−2.97%)

As of Nov 2, 2026, 3:59 PM ET

D33/ 100

Rank 28 of 30 in Disruptive Innovation

D33/100Rank 28 of 30inDisruptive Innovation
Intraday session: down, 78 prints from 27.31 to 26.50. Range 26.43 to 27.40. Use the arrow keys to read each point.26.8027.0027.2010 AM12 PM2 PM4 PM
Expense ratio
0.79%*
Fund size
$242M
1Y total return
−4.3%
Yield · Last 12 months
0.02%
Holdings
86
Avg volume · 30D
26.1K sh
52W range
low $22.26high $31.46
Launched
Filings
SEC EDGAR

*After a fee waiver that ends Feb 29, 2028. Without it: 0.82%.

The ETF.net TMAT Grade

Based on 5 of 6 pillars

D

Score 33 out of 100

Category
Disruptive Innovation⁠
Rank
28 of 30
Six-pillar profile for TMAT. Scores out of 100: Cost 5, Risk 34, Mission not scored, Tradability 55, Holdings 73, Durability 59. Strongest: Holdings (73). Weakest: Cost (5). Based on 5 of 6 pillars.

Score 33 of 100 falls in the D 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.
    F5 out of 100
    Rank 28 of 30

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    D34 out of 100
    Rank 23 of 30

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    B55 out of 100
    Rank 13 of 30

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    A73 out of 100
    Rank 8 of 30

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    B59 out of 100
    Rank 13 of 30

Our read on TMAT

ETF.net Research

In short

DMost innovation ETFs pick one theme and ride it. TMAT picks the themes: an actively managed basket of theme ETFs that rotates between them, measured against a global stock benchmark rather than a single niche index.

Stated mandate

The Fund seeks to outperform the MSCI ACWI Index in rising markets while limiting losses during declines. It pursues this through dynamic rotation among theme-based equity ETFs.

Why people hold it

  • One ticker, many themes: instead of betting on robotics or genomics alone, it rotates among theme-based equity ETFs, so the manager, not you, decides which story carries the weight.
  • The stated job is asymmetry: aim to beat the MSCI ACWI Index in rising markets while limiting losses in declines. That is a global yardstick, not a narrow innovation index.
  • Actively managed with no index to hug, and it has been running since its 2021 launch through a full boom and bust in innovation stocks as a few-hundred-million-dollar fund.stockanalysis.com

Worth knowing

  • Fees run 0.79% net of a waiver through February 29, 2028 (0.82% gross), above the category median, and the theme ETFs it holds carry their own costs on top of that.
  • Cheaper index-based alternatives exist in the same aisle: KOMP charges 0.20% and XT 0.46%, both rules-based builds that pick one basket instead of rotating themes for you.
  • It trades lightly for its category, so spreads can be wider, and available disclosure does not let us verify how well the rise-more, fall-less goal has been met.

TMAT Performance

Launched Jan 29, 2021

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.
TMAT$9,568
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. TMAT $9,568. SPY $11,199. Use the arrow keys to read each point.$8,000$9,000$10,000$11,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 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 TMAT. Periods over one year show the average yearly return.
PeriodTMAT
Year to date+9.2%
1 month−8.4%
3 months−1.4%
1 year−4.3%
3 yearsper year+28.6%
5 yearsper year+3.0%
10 yearsFund is under 10 years oldper yearNo data

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 TMAT
YearReturn barTMAT
2026 YTD+9.2%
2025+20.0%

TMAT in the news

TMAT 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 Oct 30, 2026.
0.02%Last 12 months
Payout per share
$0.005Last 12 months
Last payment
$0.005 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Irregular

Distribution history

2021–2026

One bar per payment. 5 payments from 2021 to 2026 YTD. Jun 24, 2021 $0.02; Dec 22, 2021 $0.02; Jun 23, 2022 $0.0031; Dec 22, 2022 $0.04; Dec 23, 2025 $0.005. Use the arrow keys to read each point.202120222023202420252026YTD
Ex-datePay dateAmount per share
Dec 23, 2025Dec 29, 2025$0.005
Dec 22, 2022Jan 3, 2023$0.04
Jun 23, 2022Jul 6, 2022$0.0031
Dec 22, 2021Jan 3, 2022$0.02
Jun 24, 2021Jul 6, 2021$0.02

$10,000 in TMAT 5 years ago paid $28.38 in dividends.

TMAT Risk

Risk pillarD34 out of 100Rank 23 of 30 in Disruptive Innovation
How much the fund’s monthly returns vary, scaled to a year.
28.3%
Annualised · 36 months to Oct 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.
0.88
vs 3-month T-bills · to Oct 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.
−51.9%
Trough Oct 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.
1.83
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.

FMP measures it over up to five years of monthly returns.

TMAT Cost

Compare TMAT and KOMP

Overpaying vs KOMP, cheapest in Disruptive Innovation

$11,019

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • TMAT 0.79%

    $15,174

  • KOMP 0.20% Cheapest

    $4,155

$10,000
30 years

Cost over time

  • TMAT 0.79%
  • KOMP 0.20%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530TMAT $15,174KOMP $4,155

Year by year

YearTMATKOMPOverpaying
10$1,405$365$1,040
20$5,331$1,421$3,910
30$15,174$4,155$11,019
How the 0.79% is worked out

Full fee 0.82%− waiver 0.03%= you pay 0.79%

The waiver ends Feb 29, 2028. After that the fee is 0.82% unless Main Management renews it. Source: prospectus, Sep 2026.

Other funds in Disruptive Innovation

See others