Skip to content
etf.net

Launched · SEC filings

The Acquirers Fund

ZIGNYSE ArcaF

$38.78−0.04 (−0.09%)

As of Oct 13, 2026, 2:49 PM

F22/ 100

Rank 61 of 66 in US Active Value

F22/100Rank 61 of 66inUS Active Value
Intraday session: down, 6 prints from 38.82 to 38.78. Range 38.78 to 38.90. Use the arrow keys to read each point.38.8038.8538.8838.9010 AM12 PM2 PM4 PM
Expense ratio
0.75%
Fund size
$31M
1Y total return
+10.7%
Yield · Last 12 months
1.79%
Holdings
32
Avg volume · 30D
0M sh
NAV per share
$38.66
52W range
low $34.66high $41.55
Launched
Filings
SEC EDGAR

The ETF.net ZIG Grade

Based on 5 of 6 pillars

F

Score 22 out of 100

Category
US Active Value⁠
Rank
61 of 66
Six-pillar profile for ZIG. Scores out of 100: Cost 18, Risk 11, Mission not scored, Tradability 26, Holdings 41, Durability 35. Strongest: Holdings (41). Weakest: Risk (11). Based on 5 of 6 pillars.

Score 22 of 100 falls in the F 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.
    F18 out of 100
    Rank 52 of 66

  • 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.
    F11 out of 100
    Rank 60 of 63

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    D26 out of 100
    Rank 58 of 66

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    C41 out of 100
    Rank 49 of 66

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    D35 out of 100
    Rank 54 of 66

Our read on ZIG

ETF.net Research

FTobias Carlisle turned his own valuation metric, the Acquirer's Multiple (enterprise value over operating earnings), into an ETF: roughly 30 US names picked the way a buyer of the whole business would shop, cheap on operating earnings with a clean balance sheet.

Stated mandate

The fund is a U.S. domestic equity ETF pursuing a concentrated deep-value strategy with a mid-cap tilt.

Why people hold it

  1. 01Built on one published metric: the Acquirer's Multiple, enterprise value divided by operating earnings, the math a buyer of the whole company would run.etfstrategy.com
  2. 02Concentrated on purpose. Roughly 30 US names drawn from the largest quarter of the market, so each holding actually matters.aaii.com
  3. 03Deep value with a mid-cap tilt, a different shape from large-cap value peers like AVLV and DFLV.
  4. 04Running the same strategy since its 2019 launch, from the firm founded by the metric's author.etfstrategy.com

Worth knowing

  1. 01At 0.75% a year it costs more than the typical US value fund, and well above index-based peers like AVLV (0.15%) and AVMV (0.20%).
  2. 02One of the smaller, thinner-traded funds in its category, so spreads can be wider than on mainstream value ETFs.
  3. 03Concentration cuts both ways: with about 30 positions one name can swing results, and the fund sits in the lower tier of its value peer group.aaii.com

ZIG Holdings

As of Oct 12, 2026
Asset class
Stocks
Holdings
32
Top-10 weight
35%
Largest holding
TJX3.7%

Sectors

  • Consumer Discretionary44.0%
  • Energy22.6%
  • Industrials10.4%
  • Consumer Staples9.9%
  • Financials6.7%
  • Health Care3.4%
  • Materials3.1%

Geography

  • United States96.89%
  • Canada3.11%
The fund’s holdings, weight-ordered — page 1 of 3.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001TJXTJX Cos Inc/The3.72%8,138$1M422
002YUMYum! Brands Inc3.62%7,665$1M310
003DECKDeckers Outdoor Corp3.59%13,229$1M295
004HOGHarley-Davidson Inc3.56%40,402$1M128
005DPZDomino's Pizza Inc3.51%3,511$1M216
006ULTAUlta Beauty Inc3.51%1,920$1M302
007LOPEGrand Canyon Education Inc3.50%6,774$1M153
008EOGEOG Resources Inc3.46%7,145$1M395
009APAAPA Corp3.46%22,955$1M284
010MOAltria Group Inc3.43%14,888$1M366
011GPORGulfport Energy Corp3.41%6,415$1M131
012LPXLouisiana-Pacific Corp3.40%16,006$1M131
013MLIMueller Industries Inc3.39%17,310$1M207
014ATKRAtkore Inc3.36%11,001$1M103
015HRBH&R Block Inc3.36%23,532$1M211

Showing 1–15 of 32 holdings

ZIG Performance

Launched May 14, 2019

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.
ZIG$11,072
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$12,044
Oct 10, 2025 to Oct 12, 2026. ZIG $11,072. SPY $12,044. Use the arrow keys to read each point.$9,515$10,881$12,248Oct 2025Apr 2026Oct 2026

Oct 10, 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 ZIG. Periods over one year show the average yearly return.
PeriodZIG
Year to date+6.8%
1 month−2.2%
3 months−0.3%
1 year+10.7%
3 yearsper year+10.2%
5 yearsper year+7.9%
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 ZIG
YearReturn barZIG
2026 YTD+6.8%
2025−2.7%
2024+11.3%
2023+36.7%
2022−17.3%
2021+37.4%
2020−15.7%

ZIG in the news

Filtered to ZIG · US Active Value

ZIG 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.
1.79%Last 12 months
Payout per share
$0.69Last 12 months
Last payment
$0.69 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Annual

Distribution history

2020–2026

One bar per payment. 6 payments from 2020 to 2026 YTD. Dec 24, 2020 $0.04; Dec 23, 2021 $0.06; Dec 28, 2022 $0.33; Dec 27, 2023 $0.37; Dec 30, 2024 $0.72; Dec 30, 2025 $0.69. Use the arrow keys to read each point.2020202120222023202420252026YTD
Ex-datePay dateAmount per share
Dec 30, 2025Dec 31, 2025$0.69
Dec 30, 2024Dec 31, 2024$0.72
Dec 27, 2023Dec 29, 2023$0.37
Dec 28, 2022Dec 30, 2022$0.33
Dec 23, 2021Dec 28, 2021$0.06
Dec 24, 2020Dec 29, 2020$0.04

ZIG Risk

How much the fund’s monthly returns vary, scaled to a year.
18.0%
Annualised · 36 months to Sep 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.
0.27
vs 3-month T-bills · to Sep 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.
−29.8%
Trough Apr 2025
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.
0.78
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.

ZIG Cost

Expense ratio0.75%
  • The middle half of US Active Value funds
  • Median 0.55%

51 of the 66 US Active Value funds charge less.

ZIG costs $75.00 a year on $10,000. The median US Active Value fund costs $55.00.

Other funds in US Active Value

See others