ELM vs UCBG: Grades, Fees and Holdings Compared

Elm Market Navigator ETF

ELMBNYSE Arca

State Street SPDR UC Investments 90/10 Endowment Strategy Index ETF

UCBGANYSE Arca

Overlap

0.0%by weight

Expense ratio

UCBG −0.18pt a year

ELM0.24%UCBG0.06%

Avg volume · 30D

UCBG 170.7×the volume

ELM24.3KUCBG4.15M

ELM vs UCBG Performance

Sep 30, 2026 – Oct 30, 2026

−0.3%ELM−0.9%UCBG

Expense ratio: ELM 0.24%; UCBG 0.06%, better
Fund size: ELM $593M; UCBG $2.52B
1Y total return: ELM +8.0%; UCBG No data
Holdings: ELM 21; UCBG 868
Avg volume (30D): ELM 24.3K sh; UCBG 4.15M sh, better
NAV per share: ELM $29.04; UCBG $50.56
52W range

ETF.net Grade

Pillar letters and Scores for ELM, UCBG, with each pillar’s weight
Pillar	ELM	UCBG
Cost30% weight	A89	A100Higher
Mission25% weight	D39	A99Higher
Risk15% weight	C52	Not scored
Tradability15% weight	C46	A99Higher
Holdings10% weight	D39	A79Higher
Durability5% weight	B69Higher	B66

Rank among Multi-Asset Allocation funds

How we build Categories ›

Same Category. ELM and UCBG are both graded against the same 37 Multi-Asset Allocation funds, so their Grades compare head to head.

Multi-Asset Allocation⁠

Category · 37 funds

See all 37 ›

UCBG ranks 1st and ELM 14th of 37 funds in the Multi-Asset Allocation Category.

Rank 1AUCBGState Street SPDR UC Investments 90/10 Endowment Strategy Index ETFScore 95
Rank 2AAOAiShares Core 80/20 Aggressive Allocation ETFScore 88
Rank 12BRMHYGlobal X Adaptive Risk Managed Yield ETFScore 60
Rank 14BELMElm Market Navigator ETFScore 58
Rank 14BRAASMI 3Fourteen REAL Asset Allocation ETFScore 58

Our read on each fund

ETF.net Research

ELMBElm Market Navigator ETF

UCBGAState Street SPDR UC Investments 90/10 Endowment Strategy Index ETF

In short

ELM Most allocation funds pick a stock/bond mix and stick to it. ELM runs a rules-based dial instead, shifting across global stocks, bonds, real estate and cash as conditions change, for a flat 0.24% a year with no temporary waiver holding that number down.

UCBG No data

Stated mandate

ELM The Fund is an actively managed fund of funds using a rules-based asset-allocation process to dynamically invest across equity, fixed-income, real-estate, and cash-related markets.

UCBG No data

Why people hold it

ELM The mix moves: a rules-based process shifts across equity, fixed income, real estate and cash markets, so you are not locked into one static stock/bond split.
0.24% flat, with no waiver holding it there, and below the median of the 37 allocation funds compared. Less than peers INCE (0.29%) and TRTY (0.39%).
Elm ran this strategy in a private fund for roughly 13 years before converting it into an ETF in February 2025. The wrapper is new, the playbook is not.businesswire.com
One fund of funds covers US, developed international and emerging-market stocks plus bonds, so the global spread arrives in a single line on your statement.

UCBG No data

Worth knowing

ELM Volume is light next to the giant allocation ETFs, so limit orders and a glance at the spread matter more here.
Cheap for an active allocator, but static rivals undercut it: UCBG runs 0.06% and AOA 0.15% net of a waiver through November 30, 2026.
By design the allocation can swing well away from a static baseline, so its path can look nothing like a plain balanced fund; the ETF's own record starts in February 2025.elmwealth.com

UCBG No data

Full ELM profile⁠

Full UCBG profile⁠

ELM vs UCBG Holdings

How ELM and UCBG differ

Overlap by weight

0.0%

Shared holdings make up 0.0% of ELM and 0.0% of UCBG.

Level by level

Holdings0 in both0.0%
Countryby domicile81.5%
Sector11 Sectors82.0%

Sector

Sector weights in ELM and UCBG, widest gap first
Sector	More in ELMMore in UCBG	ELM	UCBG
Technology	UCBG +13.0 points	27.4%	40.4%
Financials	ELM +6.7 points	17.9%	11.2%
Industrials	ELM +3.8 points	11.4%	7.6%
Communication	UCBG +3.7 points	6.2%	9.9%
Materials	ELM +3.2 points	4.8%	1.6%
Real Estate	ELM +2.3 points	4.0%	1.7%
Energy	ELM +0.9 points	4.3%	3.4%
Health Care	UCBG +0.9 points	8.4%	9.3%
Utilities	ELM +0.6 points	2.5%	1.9%
Consumer Discretionary	UCBG +0.4 points	8.4%	8.8%
Consumer Staples	ELM +0.3 points	4.6%	4.3%

Country, concentration and asset class

Country by domicile

Country weights in ELM and UCBG, widest gap first
Country	More in ELMMore in UCBG	ELM	UCBG
United States	UCBG +17.7 points	78.3%	96.0%
Taiwan	ELM +3.8 points	3.8%	0.0%
Japan	ELM +3.0 points	3.3%	0.3%
China	ELM +2.5 points	2.5%	0.0%
India	ELM +1.7 points	1.7%	0.0%
South Africa	ELM +1.2 points	1.2%	0.0%
Australia	ELM +0.8 points	0.9%	0.1%
Ireland	UCBG +0.8 points	0.4%	1.2%
Other countries (31)	ELM +5.5 points	7.9%	2.4%

Outside the US: ELM 49% developed, 51% emerging.

Concentration

Weight in the 10 largest Holdings

ELM93.2%
UCBG33.6%

Securities held

ELM20
UCBG866

Asset class

ELM: Multi-Asset
UCBG: Multi-Asset

Holdings

Only in ELM20
In both0
Only in UCBG866

Only in ELM

20 securities, 99.9% of ELM by weight

Vanguard 0-3 Month Treasury Bill ETF36.28%
Vanguard Morningstar Total Stock Market ETF21.03%
Schwab US TIPS ETF10.61%
Vanguard FTSE Emerging Markets ETF9.76%
Vanguard Total Bond Market ETF5.59%
iShares Core MSCI Pacific ETF3.39%
iShares Core S&P Total U.S. Stock Market ETF2.15%
Vanguard FTSE Europe ETF1.63%
Vanguard FTSE Pacific ETF1.52%
iShares Core MSCI Europe ETF1.20%
JPMorgan BetaBuilders Europe ETF1.17%
iShares Core MSCI Emerging Markets ETF1.15%
JPMorgan BetaBuilders Canada ETF1.13%
Vanguard Morningstar Value ETF1.01%
Vanguard Morningstar Small-Cap ETF0.74%
Schwab US Broad Market ETF0.40%
First American Government Obligations Fund 12/01/20310.39%
Schwab U.S. REIT ETF0.36%
Ishares Core Us Value Etf0.34%
iShares Core U.S. Aggregate Bond ETF0.04%

Only in UCBG

866 securities, 99.7% of UCBG by weight

NVIDIA Corp6.99%
Apple Inc6.89%
Microsoft Corp5.32%
Amazon.com Inc3.24%
Alphabet Inc Class A2.25%
Broadcom Inc2.21%
Meta Platforms Inc Class A1.86%
Alphabet Inc Class C1.81%
Tesla Inc1.54%
Eli Lilly & Co1.49%
Micron Technology Inc1.43%
Berkshire Hathaway Inc Class B1.36%
Advanced Micro Devices1.25%
JPMorgan Chase & Co1.23%
Exxonmobil Holdings Corp1.02%
Visa Inc Class A Shares0.95%
Johnson & Johnson0.90%
Walmart Inc0.73%
AbbVie Inc0.70%
Mastercard Inc A0.70%
Chevron Corp0.62%
Intel Corp0.62%
Palantir Technologies Inc A0.61%
Costco Wholesale Corp0.60%
Cisco Systems Inc0.58%
Procter & Gamble Co/The0.50%
UnitedHealth Group Inc0.50%
Merck & Co. Inc.0.49%
Coca Cola Co/The0.49%
Applied Materials Inc0.45%
Bank of America Corp0.45%
Home Depot Inc0.44%
Philip Morris International0.44%
General Electric0.44%
Lam Research Corp0.43%
Palo Alto Networks Inc0.42%
Caterpillar Inc0.40%
Texas Instruments Inc0.38%
Goldman Sachs Group Inc0.37%
Rtx Corp0.36%
Crowdstrike Holdings Inc A0.36%
Thermo Fisher Scientific Inc0.35%
Netflix Inc0.35%
Wells Fargo & Co0.35%
Amgen Inc0.34%
Intl Business Machines Corp0.33%
Oracle Corp0.32%
Ge Vernova Inc0.32%
Linde PLC0.31%
Morgan Stanley0.30%

Weight gaps

ELM and UCBG share no securities.

All ELM holdings⁠All 503 UCBG holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

ELM vs UCBG Cost

Overpaying ELM vs UCBG

$3,689

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

ELM 0.24%
$4,959
UCBG 0.06%
$1,270

Amount$10,000

Years30 years

Cost over time

ELM 0.24%
UCBG 0.06%
Overpaying

Year by year

Year	ELM	UCBG	Overpaying
10	$437	$110	$327
20	$1,699	$432	$1,267
30	$4,959	$1,270	$3,689

Expense ratio

0.24%ELM
0.06%UCBG, cheaper

UCBG0.06%ELM0.24%

0.06%1.36%

Middle half of Multi-Asset Allocation funds
Median 0.57%

UCBG cheapest of 37 funds

ELM 5th cheapest of 37 funds

ELM vs UCBG Dividends

Last 12 months to Oct 30, 2026

Last payment: ELM $0.13; UCBG $0.04
Ex-dividend: ELM Dec 31, 2025; UCBG Sep 21, 2026
Paid on: ELM Jan 2, 2026; UCBG Sep 23, 2026
Frequency: ELM Irregular; UCBG Irregular

Distribution history

Per share, 2025 to 2026, same scale for both

ELMIrregular · 2 paymentsAll ELM payments⁠

UCBGIrregular · 1 paymentAll UCBG payments⁠

ELM vs UCBG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: ELM 7.7%since Mar 2025UCBG No data
Return per unit of riskSharpe ratio, 3 years: ELM 0.96since Mar 2025UCBG No data
Worst fallMax drawdown, 5 years: ELM −9.0%since Feb 2025UCBG No data
Market sensitivityBeta, 5 years: ELM 0.50UCBG 0.00; Market = 1

ELM and UCBG in the news

All news⁠

Category Review
The fund built to limit losses had the category's worst return
Sep 25, 2026UCBG
ETF Filings
Leverage Shares files 2x shorts on ByteDance and Canva
Sep 6, 2026UCBG

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ELM vs UCBG

In short

Stated mandate

Why people hold it

Worth knowing

How ELM and UCBG differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in ELM

Only in UCBG

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

The fund built to limit losses had the category's worst return

Leverage Shares files 2x shorts on ByteDance and Canva

How ELM and UCBG differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in ELM

Only in UCBG

Weight gaps