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Launched · SEC filings

F/m High Yield 100 ETF

ZTOPNasdaqF/mB

$50.06−0.19 (−0.38%)

As of Nov 10, 2026, 11:20 AM ET

B62/ 100

Rank 37 of 85 in US High Yield

B62/100Rank 37 of 85inUS High Yield
Intraday session: down, 23 prints from 50.25 to 50.06. Range 50.06 to 50.10. Use the arrow keys to read each point.50.1050.1550.2010 AM12 PM2 PM4 PM
Expense ratio
0.39%
Fund size
$16M
1Y total return
+2.7%
Yield · Last 12 months
6.39%
Holdings
101
Avg volume · 30D
736 sh
52W range
low $49.52high $52.69
Launched
Filings
SEC EDGAR

The ETF.net ZTOP Grade

B

Score 62 out of 100

Category
US High Yield⁠
Rank
37 of 85
Six-pillar profile for ZTOP. Scores out of 100: Cost 58, Risk 61, Mission 100, Tradability 26, Holdings 59, Durability 31. Strongest: Mission (100). Weakest: Tradability (26). Leans toward Mission.

Score 62 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.
    B58 out of 100
    Rank 31 of 85

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A100 out of 100
    Rank 1 of 77

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    B61 out of 100
    Rank 18 of 85

  • 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 75 of 85

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    B59 out of 100
    Rank 42 of 85

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    D31 out of 100
    Rank 74 of 85

Our read on ZTOP

ETF.net Research

In short

BMost junk-bond funds sample the whole market. This one holds only the 100 largest, most liquid US high-yield issuers, weights them equally, and reshuffles monthly. A quality screen, not a market cross-section.

Stated mandate

The Fund seeks before-fee-and-expense results that generally correspond to the price and yield performance of the Bloomberg U.S. High Yield Top 100 Quality Select Equal Weighted Index.

Why people hold it

  • Equal weighting means no single borrower dominates, and the index is reconstituted and rebalanced monthly to stay on the biggest, most liquid issuers.businesswire.comfminvest.com
  • The index rules screen out pay-in-kind and zero-coupon bonds, the corners of junk where cash actually stops showing up.bbhub.io
  • The 0.39% fee sits right at the high-yield category median, and the fund pays monthly.
  • The portfolio matches its stated mandate closely, and it lands in the upper half of a crowded high-yield field.

Worth knowing

  • Plain-vanilla rivals cost a fraction of this: SCYB, SPHY and USHY all price under a tenth of a percent. The screen is what you are paying up for.
  • Launched in 2025, so it has not yet traded through a full credit cycle, and its history is short next to the category's veterans.
  • Concentrating on the largest issuers tilts the portfolio up in credit quality and away from the deep-discount, lower-rated end of junk.fminvest.cometftrends.com

ZTOP Performance

Launched Apr 14, 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.
ZTOP$10,272
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,339
Nov 7, 2025 to Nov 9, 2026. ZTOP $10,272. SPY $11,339. Use the arrow keys to read each point.$10,000$11,000Nov 2025May 2026Nov 2026

Nov 7, 2025 – Nov 9, 2026

Returns run to the Nov 9, 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 ZTOP. Periods over one year show the average yearly return.
PeriodZTOP
Year to date+1.1%
1 month+0.9%
3 months−1.2%
1 year+2.7%
3 yearsFund is under 3 years oldper yearNo data
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

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 ZTOP
YearReturn barZTOP
2026 YTD+1.1%
2025+8.8%

Since listing, Apr 14, 2025

ZTOP in the news

ZTOP 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 Nov 9, 2026.
6.39%Last 12 months
Payout per share
$3.21Last 12 months
Last payment
$0.27 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Monthly

Distribution history

2025–2026

One bar per payment. 19 payments from 2025 to 2026 YTD. May 16, 2025 $0.31; Jun 17, 2025 $0.27; Jul 17, 2025 $0.27; Aug 18, 2025 $0.26; Sep 16, 2025 $0.27; Oct 17, 2025 $0.27; Nov 18, 2025 $0.26; Dec 16, 2025 $0.26; Dec 30, 2025 $0.12; Jan 16, 2026 $0.13; Feb 17, 2026 $0.27; Mar 17, 2026 $0.28; Apr 16, 2026 $0.29; May 18, 2026 $0.28; Jun 16, 2026 $0.27; Jul 16, 2026 $0.26; Aug 19, 2026 $0.25; Sep 16, 2026 $0.25; Oct 16, 2026 $0.27. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Oct 16, 2026Oct 19, 2026$0.27
Sep 16, 2026Sep 17, 2026$0.25
Aug 19, 2026Aug 20, 2026$0.25
Jul 16, 2026Jul 17, 2026$0.26
Jun 16, 2026Jun 17, 2026$0.27
May 18, 2026May 19, 2026$0.28
Apr 16, 2026Apr 17, 2026$0.29
Mar 17, 2026Mar 18, 2026$0.28
Feb 17, 2026Feb 18, 2026$0.27
Jan 16, 2026Jan 20, 2026$0.13
Dec 30, 2025Dec 31, 2025$0.12
Dec 16, 2025Dec 17, 2025$0.26

See all 19 payments⁠

$10,000 in ZTOP 1 year ago paid $614 in dividends.⁠

ZTOP Risk

Risk pillarB61 out of 100Rank 18 of 85 in US High Yield
How much the fund’s monthly returns vary, scaled to a year.
3.6%
Annualised · 18 months to Oct 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.
0.22
vs 3-month T-bills · 18 months to Oct 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.
−2.9%
18 months · trough Oct 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.
0.17
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.

FMP measures it over up to five years of monthly returns.

ZTOP Cost

Compare ZTOP and SCYB

Overpaying vs SCYB, cheapest in US High Yield

$7,260

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • ZTOP 0.39%

    $7,898

  • SCYB 0.03% Cheapest

    $638

$10,000
30 years

Cost over time

  • ZTOP 0.39%
  • SCYB 0.03%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K$8K051015202530ZTOP $7,898SCYB $638

Year by year

YearZTOPSCYBOverpaying
10$705$55$650
20$2,725$216$2,509
30$7,898$638$7,260

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