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USFE

GradeCNew York Stock Exchange Arca

First Eagle US Equity ETF

Active Equity · First Eagle · Inception 2026-01-27

$36.93−0.12 (−0.32%)

As of Sep 23, 2026, 3:03 PM EDT

History starts Jan 28, 2026.History starts Jan 28, 2026.
Intraday session: down, 16 prints from 37.05 to 36.93. Range 36.77 to 37.00. Use the arrow keys to read each point.$36.80$36.90$37.0010 AM12 PM2 PM4 PM
Expense ratio
0.79%
Fund size
$3M
1Y return
—
Yield · Last 12 months
—
Holdings
52
Volume · 30D
0M sh
NAV per share
$36.93
52W range
low $32.62high $38.29

The ETF.net USFE Grade

C

40/ 100

Rank 85 of 127 in US Active Equity⁠

Confidence Medium

Six-pillar profile for USFE. Scores out of 100: Cost 33, Risk 45, Mission not scored, Tradability 33, Holdings 72, Durability 36. Strongest: Holdings (72). Weakest: Tradability (33). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 40 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E. A structural cap ceilings this fund at 40, so B and A are out of reach.

Ceiling 40 · B and A out of reach

The pillars earned41This cap took−1Published score40 Grade C

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    DScore 33
    Category rank86/127 · mid-pack

  • 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 45
    Category rank84/126 · mid-pack

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    DScore 33
    Category rank95/127 · bottom quartile

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    AScore 72
    Category rank37/124 · top 30%

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    DScore 36
    Category rank106/127 · bottom quartile

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

Our read on USFE

ETF.net Research

CFirst Eagle built its name buying resilient businesses only at a discount to what they are worth. USFE puts that margin-of-safety discipline on US stocks, priced below most active rivals.

Stated mandate

The Fund seeks long-term growth of capital.

Why people hold it

  1. 01Costs 0.45% a year, well under the 0.65% median for active US equity funds in its peer group. Cheap freight for a stockpicker.
  2. 02Runs First Eagle's signature playbook: resilient companies with strong balance sheets and prudent management, bought only at a "margin of safety" to estimated intrinsic value.firsteagle.com
  3. 03A fully active, transparent 1940 Act fund whose stated goal is long-term growth of capital, extending an ETF lineup the firm started in late 2024.firsteagle.com

Worth knowing

  1. 01Launched in 2026, still small and thinly traded. Little live history to judge, and spreads can run wider than on a big index fund.
  2. 02The 0.45% is net of a contractual expense cap; the stated management fee is 0.79%. Check the current prospectus for how long the waiver runs.sec.govsec.gov
  3. 03Broad rivals like DFAU (0.12%) and AVLC (0.15%) cost a third as much. Here you pay for stockpicking and a value tilt that moves differently from the market.

USFE Holdings

As of Sep 21, 2026, 4:09 AM
Asset class
Stocks
Holdings
52
Top-10 weight
38%
Largest holding
OKE4.9%

Geography

  • United States89.73%
  • Canada5.84%
  • Ireland2.44%
  • United Kingdom1.99%
The fund’s holdings, weight-ordered — page 1 of 4.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001OKEONEOK INC COMMON STOCK USD 0.014.94%1,751$164K325
002BDXABECTON DICKINSON & CO COMMON STOCK USD 14.77%874$158K171
003GOOGALPHABET INC-CL C - COMMON STOCK USD 0.0014.45%428$147K471
004METAMETA PLATFORMS INC COMMON STOCK USD 0.0000064.21%210$140K683
005ANTMELEVANCE HEALTH INC COMMON STOCK USD 0.013.68%297$122K201
006BNYBANK OF NEW YORK MELLON CORP/THE COMMON STOCK USD3.52%759$117K386
007CRMSALESFORCE.COM INC.3.24%451$107K457
008HCAHCA HEALTHCARE INC COMMON STOCK USD 0.013.19%247$106K297
009NEMNEWMONT CORP COMMON STOCK USD 1.63.18%855$106K428
010PMPHILIP MORRIS INTERNATIONAL INC COMMON STOCK USD 02.97%522$98K412
011WDAYWORKDAY INC COMMON STOCK USD 0.0012.90%495$96K389
012—JPMORGAN US GOVT MM2.46%81,673$82K4
013XOMEXXONMOBIL HOLDINGS CORP COMMON STOCK USD2.42%490$80K501
014MDTMEDTRONIC PLC COMMON STOCK USD 0.12.38%855$79K262
015ORCLORACLE CORP COMMON STOCK USD 0.012.36%531$78K448

Showing 1–15 of 54 holdings

USFE Performance

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

USFE$11,056
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,415
Jun 22, 2026 to Sep 22, 2026. USFE $11,056. SPY $10,415. Use the arrow keys to read each point.$9,662$10,610$11,557Jun 2026Aug 2026Sep 2026

Jun 22, 2026 – 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 USFE. Periods over one year show the average yearly return.
PeriodUSFE
Year to dateFund launched this year—
1 month−2.1%
3 months+10.6%
1 yearFund is under 1 year old—
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 USFE
YearReturn barUSFE
2026 YTD+5.8%

History from Jan 28, 2026

USFE in the news

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

USFE 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.
—Last 12 months
Payout per share
—Last 12 months

Listed Jan 2026. No distributions yet.

USFE Risk

How much the fund’s monthly returns vary, scaled to a year.
—
Launched Jan 2026; 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 Jan 2026; 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 Jan 2026; 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.
0.57
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.

USFE Cost

Expense ratio0.79%
  • The middle half of US Active Equity funds
  • Median 0.70%

80 of the 124 US Active Equity funds charge less.

USFE costs $79.00 a year on $10,000. The median US Active Equity fund costs $70.00.