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USAF

GradeBNASDAQ

The 2023 ETF Series Trust - Atlas America Fund

Multi-Asset & Alternatives · Atlas Capital Team · Inception 2024-11-19 · SEC filings

$27.95−0.15 (−0.53%)

As of Sep 23, 2026, 12:48 PM EDT

History starts Nov 20, 2024.
Intraday session: down, 5 prints from 28.10 to 27.95. Range 27.93 to 28.13. Use the arrow keys to read each point.$28.00$28.05$28.10$28.1510 AM12 PM2 PM4 PM
Expense ratio
0.89%
Fund size
$17M
1Y return
+6.0%
Yield · Last 12 months
Data unavailable
Holdings
61
Volume · 30D
0M sh
NAV per share
$28.12
52W range
low $26.74high $30.40

The ETF.net USAF Grade

B

55/ 100

Rank 23 of 46 in Tactical Allocation⁠

Confidence High

Six-pillar profile for USAF. Scores out of 100: Cost 51, Risk 59, Mission 81, Tradability 23, Holdings 63, Durability 18. Strongest: Mission (81). Weakest: Durability (18). Leans toward Mission.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 55 of 100 sits in the B 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 51
    Category rank23/46 · top 50%

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    AScore 81
    Category rank7/26 · top 27%

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    BScore 59
    Category rank18/46 · top 39%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    FScore 23
    Category rank35/46 · bottom quartile

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    BScore 63
    Category rank15/42 · top 36%

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    FScore 18
    Category rank44/46 · bottom quartile

Graded as of Sep 22, 2026

USAF Holdings

As of Sep 20, 2026, 9:58 AM
Asset class
Stocks
Holdings
61
Top-10 weight
69%
Largest holding
PDBA9.5%

Sectors

  • Real Estate61.4%
  • Technology21.2%
  • Industrials16.5%
  • Financials0.5%
  • Consumer Discr.0.3%
  • Health Care0.2%

Geography

  • United States100.00%
The fund’s holdings, weight-ordered — page 1 of 5.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001PDBAINVESCO AC AGRICULTURE COMMODITY ST9.52%41,646$2M3
002VBILVANGUARD I 0-3 MONTH TREASURY BILL9.13%20,060$2M3
003IAUMISHARES GOLD TRUST MICRO8.38%32,137$1M3
004GLDMWORLD GOLD SPDR GOLD MINISHARES TR(8.21%15,866$1M16
005STIPISHARES TR 0-5 YEAR TIPS BD ETF7.69%12,761$1M6
006VTIPVANGUARD M SH-TERM INFL PROTECTED E5.63%18,933$935K10
007CLIPGLOBAL X F 1-3 MONTH T-BILL ETF(P/S5.22%8,658$868K5
008SGOVISHARES TR ISHARES 0-3 MONTH TREASU5.21%8,608$866K10
009SPTSSPDR PORTFOLIO SHORT TERM TRE ETF5.00%28,936$831K5
010VGSHVANGUARD S SHORT-TERM TREASURY ETF5.00%14,409$831K8
011HARDSIMPLIFY E COMMODITIES STRATEGY NO3.69%17,335$614K1
012—CASH3.07%510,291$510K414
013TBFPROSHARES SHORT 20+ YR TREASURY US3.05%19,811$507K1
014BUGGLOBAL X F CYBERSECURITY ETF2.94%10,787$489K2
015SHLDGLOBAL X F DEFENSE TECH ETF2.29%6,047$381K5

Showing 1–15 of 63 holdings

USAF Performance

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

USAF$10,600
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. USAF $10,600. 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 USAF. Periods over one year show the average yearly return.
PeriodUSAF
Year to date+4.8%
1 month−1.3%
3 months+3.5%
1 year+6.0%
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 USAF
YearReturn barUSAF
2026 YTD+4.8%
2025+9.1%
2024+0.2%

History from Nov 20, 2024

USAF in the news

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

USAF 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
$0.67 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 30, 2025 $0.67. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Dec 30, 2025Dec 31, 2025$0.67

USAF Risk

How much the fund’s monthly returns vary, scaled to a year.
4.7%
Annualised · 21 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.
0.92
vs 3-month T-bills · 21 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.
−4.4%
22 months · trough Mar 2026
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.
0.08
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.

USAF Cost

Expense ratio0.89%
  • The middle half of Tactical Allocation funds
  • Median 0.91%

22 of the 46 Tactical Allocation funds charge less.

USAF costs $89.00 a year on $10,000. The median Tactical Allocation fund costs $90.50.