---
title: "Valued Advisers Trust files Slow Capital's ETF conversion without settling the fee"
url: "https://etf.net/news/slow-capital-etf-files-fee-unsettled-2026-10-30"
published_at: "2026-10-30T12:05:51.624Z"
updated_at: "2026-10-30T12:05:51.624Z"
byline: "ETF.net Research"
---

# Valued Advisers Trust files Slow Capital's ETF conversion without settling the fee

The Oct. 29, 2026, prospectus prints a 0.75% net expense, against the 0.85% in the mutual fund's March 1, 2026, prospectus, and leaves blank the lines that would show how it got there.

By ETF.net Research. Published Oct 30, 2026.

Valued Advisers Trust filed a [preliminary prospectus](https://www.sec.gov/Archives/edgar/data/1437249/000158064226007245/vat-scge_485a.htm) on Thursday, Oct. 29, to reorganize Slow Capital Growth Fund, ticker SLWGX, into the Slow Capital Growth ETF. The fee table prints a net expense of **0.75%**.

That 0.75% is either a cut from the **0.85%** in the mutual fund's March 1, 2026, prospectus, or a number printed while the lines that produce it are blank. The filing does not say which.

## A 0.75% net expense, with the lines blank

The management fee would stay at 0.50% of average daily net assets. The lines for other expenses, the gross total and the size of the waiver are blank. The 0.75% net expense is filled in.

A footnote says the adviser, Slow Capital Inc., has agreed, through Feb. 28, 2028, to keep total annual operating expenses from exceeding 0.85%, excluding interest, taxes, brokerage commissions and certain other expenses.

The mutual fund's [March 1, 2026, prospectus](https://slowcapitalfunds.com/assets/pdfs/SlowCapital_Prospectus.pdf) shows the same 0.50% management fee, 0.42% in other expenses, a 0.92% gross and a net of 0.85%, under a cap that runs through Feb. 28, 2027. The new filing keeps that cap and extends it to Feb. 28, 2028.

## Slow Capital would stay on

The prospectus says the mutual fund's objective and strategies are, in all material respects, the same as the ETF's. Slow Capital, the adviser in Greenbrae, Calif., would stay on. It reported about $950 million under management as of Dec. 31, 2025. Matthew Johnson, its chief executive and chief investment officer, would remain the only portfolio manager, the role he has held since the fund opened on Dec. 6, 2024.

## The reorganization date, and the symbol SLWGX

The prospectus describes the ETF taking the mutual fund's assets and liabilities, with mutual fund shares exchanged for ETF shares, in what it calls a tax-free reorganization. It dates that reorganization to a blank day and month in 2027. Separately, the cover marks this amendment to the trust's registration to take effect 75 days after it was filed.

A section of the prospectus, How to Buy and Sell Shares, says the ETF will list under the symbol SLWGX. The cover leaves the ticker blank, and neither the cover nor that section names the exchange.

## Already-listed growth ETFs charge less

The conversion would leave the fund beside active growth ETFs that already charge less. Capital Group's Capital Group Growth ETF CGGR lists an expense ratio of 0.39% in its most recent prospectus. J.P. Morgan's JPMorgan Active Growth ETF JGRO [reported](https://am.jpmorgan.com/content/dam/jpm-am-aem/americas/us/en/literature/fact-sheet/etfs/FS-JGRO.PDF) an expense ratio of 0.44% as of Sept. 30, 2026.

A 0.75% charge would be a cut from 0.85%, and it would still be well above what those two funds charge.

Chart: A 0.75% print would still sit **above** CGGR and JGRO

The prospectus does not say whether holders would get that cut.

Source: etf.net, https://etf.net/news/slow-capital-etf-files-fee-unsettled-2026-10-30. Please cite the page URL.