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USMD

GradeFNew York Stock Exchange Arca

CoreValues America First Technology ETF

Themes · CoreValues Alpha · Inception 2026-02-06 · SEC filings

$32.91−0.12 (−0.35%)

As of Sep 23, 2026, 10:09 AM EDT

History starts Feb 6, 2026.History starts Feb 6, 2026.
Intraday session: down, 2 prints from 33.03 to 32.91. Range 32.91 to 33.03. Use the arrow keys to read each point.$32.95$33.0010 AM12 PM2 PM4 PM
Expense ratio
0.87%
Fund size
$0M
1Y return
—
Yield · Last 12 months
—
Holdings
121
Volume · 30D
0M sh
NAV per share
$32.81
52W range
low $23.22high $33.65

The ETF.net USMD Grade

F

19/ 100

Rank 22 of 22 in US Thematic⁠

Confidence Medium

Six-pillar profile for USMD. Scores out of 100: Cost 0, Risk 51, Mission not scored, Tradability 5, Holdings 52, Durability 28. Strongest: Holdings (52). Weakest: Cost (0). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 19 of 100 sits in the F 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 earned20This cap took−0Published score19 Grade F

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    FScore 0
    Category rank22/22 · 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 51
    Category rank12/22 · mid-pack

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    FScore 5
    Category rank21/22 · bottom quartile

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    CScore 52
    Category rank13/22 · mid-pack

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    DScore 28
    Category rank15/22 · mid-pack

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

Our read on USMD

ETF.net Research

FOne of the newest names in US thematic tech: USMD tracks Solactive's America First Technology Index for an all-domestic technology sleeve, with long-term capital appreciation, not income, as the stated goal.

Stated mandate

The Fund seeks long-term capital appreciation.

Why people hold it

  1. 01Rules first, hunches second: it follows a published Solactive index, so the selection logic is written down before the trades happen.
  2. 02Geography is unambiguous. A US equity mandate keeps the theme home, rather than blending domestic and overseas tech under one label.
  3. 03Plain-vanilla fund plumbing: a 1940 Act ETF, so you get standard 1099 reporting instead of partnership paperwork.

Worth knowing

  1. 01Fee is the headline trade-off: 0.87% a year, while thematic-tech neighbors like LRND (0.14%) and TECB (0.30%) charge a fraction of that.
  2. 02It opened in 2026, so there is no multi-year record yet, and small, thinly traded funds tend to carry wider bid-ask spreads.
  3. 03Growth mandate, not a paycheck: the prospectus objective is capital appreciation, and income is not part of the design.

USMD Holdings

As of Sep 20, 2026, 9:24 AM
Asset class
Stocks
Holdings
121
Top-10 weight
46%
Largest holding
TSLA5.6%

Geography

  • United States96.91%
  • Singapore1.93%
  • Netherlands0.73%
  • United Kingdom0.36%
  • China0.03%
  • Israel0.02%
  • Taiwan (Province of China)0.02%
The fund’s holdings, weight-ordered — page 1 of 9.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001TSLATesla Inc5.62%0$18K509
002PLTRPalantir Technologies Inc5.53%0$18K503
003AMDAdvanced Micro Devices Inc5.11%0$16K618
004MSFTMicrosoft Corp4.97%0$16K792
005GOOGLAlphabet Inc4.84%0$15K704
006AMZNAmazon.com Inc4.63%0$15K720
007NVDANVIDIA Corp4.48%0$14K828
008INTCIntel Corp4.24%0$13K492
009AVGOBroadcom Inc3.82%0$12K732
010IBMInternational Business Machines Corp2.89%0$9K430
011MUMicron Technology Inc2.88%0$9K655
012TXNTexas Instruments Inc2.77%0$9K497
013PANWPalo Alto Networks Inc2.75%0$9K486
014GEVGE Vernova Inc2.66%0$8K473
015ORCLOracle Corp2.56%0$8K448

Showing 1–15 of 121 holdings

USMD Performance

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

USMD$10,283
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. USMD $10,283. SPY $10,415. Use the arrow keys to read each point.$8,596$9,591$10,587Jun 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 USMD. Periods over one year show the average yearly return.
PeriodUSMD
Year to dateFund launched this year—
1 month+6.5%
3 months+2.8%
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 USMD
YearReturn barUSMD
2026 YTD+30.8%

Since listing, Feb 6, 2026

USMD in the news

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

USMD 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 Feb 2026. No distributions yet.

USMD Risk

How much the fund’s monthly returns vary, scaled to a year.
—
Launched Feb 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 Feb 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 Feb 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.
1.79
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.

USMD Cost

Expense ratio0.87%
  • The middle half of US Thematic funds
  • Median 0.35%

Every other US Thematic fund charges less.

USMD costs $87.00 a year on $10,000. The median US Thematic fund costs $35.00.