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Launched · SEC filings

Truth Social American Next Frontiers ETF

TSNFNYSE ArcaB

$30.09−0.35 (−1.16%)

As of Oct 13, 2026, 11:22 AM

B55/ 100

Rank 12 of 31 in Disruptive Innovation

B55/100Rank 12 of 31inDisruptive Innovation
Intraday session: down, 2 prints from 30.44 to 30.09. Range 30.09 to 30.44. Use the arrow keys to read each point.30.2030.3030.4010 AM12 PM2 PM4 PM
Expense ratio
0.65%
Fund size
$8M
1Y total return
—
Yield · Last 12 months
—
Holdings
146
Avg volume · 30D
0M sh
NAV per share
$31.02
52W range
low $22.34high $34.32
Launched
Filings
SEC EDGAR

The ETF.net TSNF Grade

Based on 5 of 6 pillars

B

Score 55 out of 100

Category
Disruptive Innovation⁠
Rank
12 of 31
Six-pillar profile for TSNF. Scores out of 100: Cost 55, Risk 52, Mission not scored, Tradability 49, Holdings 87, Durability 24. Strongest: Holdings (87). Weakest: Durability (24). Based on 5 of 6 pillars.

Score 55 of 100 falls in the B 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.
    B55 out of 100
    Rank 12 of 31

  • 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.
    C52 out of 100
    Rank 16 of 31

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    C49 out of 100
    Rank 17 of 31

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    A87 out of 100
    Rank 3 of 31

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    F24 out of 100
    Rank 29 of 31

Our read on TSNF

ETF.net Research

BTrump Media's Truth Social brand, wrapped around frontier tech: TSNF tracks a rules-based index of US-listed companies working in next-generation industries. A theme fund where "American" is as much the theme as innovation.

Stated mandate

The Fund seeks to track, before fees and expenses, the performance of the MarketVector American Next Frontiers Index.

Why people hold it

  1. 01The mandate is refreshingly literal: a US-only, full-replication track of the MarketVector American Next Frontiers Index. No manager hand-picking frontier winners.
  2. 02At 0.65%, it charges the going rate for thematic innovation funds rather than a premium for the branding.
  3. 03One of a family of Truth Social and Yorkville indexes administered by MarketVector, so the theme is spelled out in published index rules.marketvector.com
  4. 04The basket is the strongest part of the package: the spread and quality of names hold up well next to other disruptive-innovation funds.

Worth knowing

  1. 01It trades thinly, so spreads can be a real cost. Limit orders matter more here than in the category's household names.
  2. 02Cheaper routes to the same theme exist: KOMP at 0.20%, XT at 0.46%, both with far longer live histories.
  3. 03Fund and index both date to the end of 2025, so there's no long record of how the strategy behaves through a full market cycle.

TSNF Holdings

As of Oct 12, 2026
Asset class
Stocks
Holdings
146
Top-10 weight
12%
Largest holding
NIQ1.5%

Geography

  • United States96.85%
  • Cayman Islands1.49%
  • Netherlands1.12%
  • Israel0.53%
The fund’s holdings, weight-ordered — page 1 of 10.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001NIQNIQ Global Intelligence Plc1.48%6,846$124K57
002NTRANatera Inc1.27%266$107K238
003SWKSSkyworks Solutions Inc1.27%1,391$106K282
004ILMNIllumina Inc1.17%352$98K322
005APPNAppian Corp1.17%2,439$98K86
006HNGEHinge Health Inc1.13%921$95K113
007CRLCharles River Laboratories International Inc1.11%308$93K216
008AVTRAvantor Inc1.11%5,923$93K121
009ESTCElastic NV1.11%943$93K147
010PLTRPalantir Technologies Inc1.10%440$92K525
011DTDynatrace Inc1.07%1,409$89K189
012SNOWSnowflake Inc1.06%241$89K335
013BMNRBitMine Immersion Technologies Inc1.05%3,655$88K80
014PKIRevvity Inc1.04%567$87K71
015—U.S. Bank Money Market Deposit Account 06/01/20310.98%82,472$82K103

Showing 1–15 of 146 holdings

TSNF Performance

Launched Dec 30, 2025

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.Not enough history yet.Not enough history yet.
TSNF$12,349
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,500
Dec 31, 2025 to Oct 12, 2026. TSNF $12,349. SPY $11,500. Use the arrow keys to read each point.$8,958$11,616$14,273Dec 2025May 2026Oct 2026

Dec 31, 2025 – Oct 12, 2026

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.

Trailing total return for TSNF. Periods over one year show the average yearly return.
PeriodTSNF
Year to date+23.5%
1 month−0.3%
3 months−1.7%
1 yearFund is under 1 year old—
3 yearsFund is under 3 years oldper 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 TSNF
YearReturn barTSNF
2026 YTD+23.5%
2025−1.2%

Since listing, Dec 30, 2025

TSNF in the news

Filtered to TSNF · Disruptive Innovation

TSNF 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 12, 2026.
—Last 12 months
Payout per share
—Last 12 months

Listed Dec 2025. No distributions yet.

TSNF Risk

How much the fund’s monthly returns vary, scaled to a year.
—
Launched Dec 2025; fills in after 12 months
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.
—
Launched Dec 2025; fills in after 12 months
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.
—
Launched Dec 2025; fills in after 12 months
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.
2.00
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.

TSNF Cost

Expense ratio0.65%
  • The middle half of Disruptive Innovation funds
  • Median 0.65%

11 of the 31 Disruptive Innovation funds charge less.

TSNF costs $65.00 a year on $10,000. The median Disruptive Innovation fund costs $65.00.

Other funds in Disruptive Innovation

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