PPI vs UCBG: Grades, Fees and Holdings Compared

Astoria Real Assets ETF

PPICNasdaq

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

UCBGANYSE Arca

Overlap

4.2%by weight

Expense ratio

UCBG −0.51pt a year

PPI0.57%UCBG0.06%

Avg volume · 30D

UCBG 147.9×the volume

PPI28.1KUCBG4.15M

PPI vs UCBG Performance

Oct 6, 2026 – Nov 6, 2026

−8.1%PPI−5.0%UCBG

Expense ratio: PPI 0.57%; UCBG 0.06%, better
Fund size: PPI $147M; UCBG $2.42B
1Y total return: PPI +4.3%; UCBG No data
Yield (12M): PPI 1.56%; UCBG No data
Holdings: PPI 88; UCBG 886
Avg volume (30D): PPI 28.1K sh; UCBG 4.15M sh, better
NAV per share: PPI $18.89; UCBG $48.42
52W range

ETF.net Grade

Pillar letters and Scores for PPI, UCBG, with each pillar’s weight
Pillar	PPI	UCBG
Cost30% weight	C53	A100Higher
Mission25% weight	Not scored	A99
Risk15% weight	F20	Not scored
Tradability15% weight	C44	A99Higher
Holdings10% weight	A80Higher	A79
Durability5% weight	B58	B66Higher

Rank among Multi-Asset Allocation funds

How we build Categories ›

Same Category. PPI and UCBG are both graded against the same 36 Multi-Asset Allocation funds, so their Grades compare head to head.

Multi-Asset Allocation⁠

Category · 36 funds

See all 36 ›

UCBG ranks 1st and PPI 24th of 36 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 23CCSRACohen & Steers Real Assets Active ETFScore 51
Rank 24CPPIAstoria Real Assets ETFScore 48
Rank 25CSPLSPIMCO US Stocks PLUS Active Bond ETFScore 45

Our read on each fund

ETF.net Research

PPICAstoria Real Assets ETF

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

In short

PPI Most allocation ETFs split stocks and bonds. PPI swaps the bond side for hard assets: an actively run basket of energy, materials, industrials, utilities and REITs, aiming at growth measured after inflation. Trading since December 2021.

UCBG No data

Stated mandate

PPI The Fund seeks long-term capital appreciation in inflation-adjusted terms and normally invests at least 80% of net assets in investments with significant exposure to real assets.

UCBG No data

Why people hold it

PPI One ticker, one job: at least 80% of net assets in real-asset investments. A company counts only if half its revenue, profits or assets sit in physical things.sec.gov
Actively run, not an index sleeve. Astoria builds the equity book around roughly 50 to 60 issuers using growth, momentum, quality and value screens.streetinsider.com
Real assets here stretch past commodity miners and drillers to global REITs and inflation-linked Treasuries, so the hedge is not one trade in a trench coat.streetinsider.com
0.57% all-in, with no fee waiver doing the work, which lands near the median for its allocation peer group. Distributions land quarterly.

UCBG No data

Worth knowing

PPI Non-diversified by charter, and the book clusters in energy, materials, industrials, utilities and real estate, so it moves with commodity and resource cycles.sec.gov streetinsider.com
Thinly traded next to the giants in its category, so limit orders and a glance at the spread earn their keep.
Index stock-and-bond allocation funds like AOA and IRTR sit below it on cost. The active real-assets mandate is what the gap buys.

UCBG No data

Full PPI profile⁠

Full UCBG profile⁠

PPI vs UCBG Holdings

How PPI and UCBG differ

Overlap by weight

4.2%

Shared holdings make up 44.0% of PPI and 4.2% of UCBG.

Level by level

Holdings33 in both4.2%
Sector11 Sectors18.8%
Countryby domicile66.7%

Sector

Sector weights in PPI and UCBG, widest gap first
Sector	Gap	PPI	UCBG
Technology	UCBG +38.2 points	0.0%	38.2%
Industrials	PPI +27.8 points	35.4%	7.6%
Energy	PPI +21.8 points	25.7%	3.9%
Materials	PPI +17.5 points	19.1%	1.6%
Financials	UCBG +12.1 points	0.0%	12.1%
Health Care	UCBG +10.3 points	0.0%	10.3%
Communication	UCBG +8.4 points	0.0%	8.4%
Real Estate	PPI +7.9 points	9.7%	1.8%
Consumer Discretionary	UCBG +7.4 points	1.8%	9.2%
Utilities	PPI +6.2 points	8.3%	2.1%
Consumer Staples	UCBG +4.9 points	0.0%	4.9%

Country, concentration and asset class

Country by domicile

Country weights in PPI and UCBG, widest gap first
Country	Gap	PPI	UCBG
United States	UCBG +33.0 points	62.9%	95.9%
Japan	PPI +5.7 points	6.0%	0.3%
France	PPI +5.5 points	5.7%	0.2%
Canada	PPI +5.3 points	5.7%	0.4%
United Kingdom	PPI +4.8 points	5.7%	0.9%
Switzerland	PPI +3.7 points	4.0%	0.3%
Germany	PPI +2.5 points	2.5%	0.0%
Australia	PPI +2.2 points	2.3%	0.1%
Other countries (12)	PPI +3.4 points	5.2%	1.8%

Outside the US: PPI 99% developed, 1% emerging.

Concentration

Weight in the 10 largest Holdings

PPI26.2%
UCBG33.6%

Securities held

PPI87
UCBG884

Asset class

PPI: Multi-Asset
UCBG: Multi-Asset

Holdings

Only in PPI54
In both33
Only in UCBG851

Only in PPI

54 securities, 55.5% of PPI by weight

Spdr Gold Minishares Trust4.09%
Sprott Physical Copper T /Cad/3.08%
Abb Ltd-Reg /Chf/2.46%
Shell Plc-Adr2.25%
Anglogold Ashanti PLC1.91%
Rio Tinto Plc-Spon Adr1.74%
Siemens Energy AG /Eur/1.69%
Lyondellbasell Indu-Cl A1.66%
Air Liquide SA /Eur/1.65%
Engie /Eur/1.52%
Bhp Group Ltd-Spon Adr1.41%
Mitsubishi Electric Corp /Jpy/1.38%
Aercap Holdings NV1.36%
Newmarket Corp1.25%
Safran SA /Eur/1.25%
Jones Lang Lasalle Inc1.21%
Canadian Natural Resourc /Cad/1.17%
Enterprise Products Partners1.15%
Mplx Lp1.14%
Lamar Advertising Co-A1.13%
Energy Transfer Lp1.11%
Plains All Amer Pipeline Lp1.10%
Slb Ltd1.02%
Hitachi Ltd /Jpy/0.96%
Technipfmc PLC0.90%
Veolia Environnement /Eur/0.85%
Cenovus Energy Inc0.84%
Omega Healthcare Investors0.83%
Crown Holdings Inc0.83%
Inpex Corporation /Jpy/0.81%
Ati Inc0.76%
Ryman Hospitality Properties0.75%
Cashusd0.74%
Fujikura Ltd /Jpy/0.71%
Rheinmetall AG /Eur/0.68%
Prysmian Spa /Eur/0.67%
Mueller Industries Inc0.66%
Kansai Electric Power Co /Jpy/0.65%
Glencore PLC /Gbp/0.59%
Carpenter Technology0.57%
Cheniere Energy Inc0.54%
Totalenergies SE /Eur/0.54%
Repsol SA /Eur/0.50%
Evolution Mining Ltd /Aud/0.49%
Kajima Corp /Jpy/0.47%
SOUTH32 Ltd /Aud/0.47%
Graniteshares Platinum Trust0.47%
Abrdn Physical Silver Shares0.44%
Sumitomo Metal Mining Co /Jpy/0.43%
Abrdn Physical Palladium Shs0.43%

Only in UCBG

851 securities, 95.6% of UCBG by weight

Apple Inc7.09%
NVIDIA Corp6.21%
Microsoft Corp5.62%
Amazon.com Inc3.61%
Alphabet Inc Class A2.34%
Broadcom Inc1.95%
Alphabet Inc Class C1.89%
Meta Platforms Inc Class A1.88%
Eli Lilly & Co1.54%
Berkshire Hathaway Inc Class B1.50%
Tesla Inc1.37%
JPMorgan Chase & Co1.27%
Micron Technology Inc1.05%
Visa Inc Class A Shares1.02%
Advanced Micro Devices0.93%
Johnson & Johnson0.93%
Walmart Inc0.80%
Mastercard Inc A0.75%
AbbVie Inc0.72%
Costco Wholesale Corp0.67%
Chevron Corp0.59%
Procter & Gamble Co/The0.55%
Cisco Systems Inc0.53%
Coca Cola Co/The0.52%
Merck & Co. Inc.0.51%
Palantir Technologies Inc A0.50%
UnitedHealth Group Inc0.50%
Home Depot Inc0.49%
General Electric0.46%
Bank of America Corp0.46%
Philip Morris International0.44%
Netflix Inc0.39%
Rtx Corp0.37%
Intel Corp0.37%
Palo Alto Networks Inc0.36%
Wells Fargo & Co0.36%
Texas Instruments Inc0.36%
Applied Materials Inc0.36%
Goldman Sachs Group Inc0.36%
Thermo Fisher Scientific Inc0.35%
Amgen Inc0.35%
Linde PLC0.34%
Intl Business Machines Corp0.33%
Lam Research Corp0.33%
Oracle Corp0.32%
Crowdstrike Holdings Inc A0.31%
Morgan Stanley0.31%
Gilead Sciences Inc0.29%
Walt Disney Co/The0.29%
Citigroup Inc0.28%

Weight gaps

All 33 Holdings in both funds, largest gap first.

Holding weights in PPI and UCBG, widest gap first
Holding	Gap	PPI	UCBG
Newmont CorpNEM	PPI +2.64 points	2.82%	0.18%
Simon Property Group IncSPG	PPI +2.52 points	2.62%	0.10%
Freeport-Mcmoran IncFCX	PPI +2.16 points	2.28%	0.12%
Public Storage ReitPSA	PPI +2.15 points	2.23%	0.08%
Vici Properties IncVICI	PPI +1.94 points	1.98%	0.04%
Csx CorpCSX	PPI +1.83 points	1.96%	0.13%
Steel Dynamics IncSTLD	PPI +1.79 points	1.83%	0.04%
Lockheed Martin CorpLMT	PPI +1.74 points	1.91%	0.17%
Caterpillar IncCAT	PPI +1.69 points	2.05%	0.36%
Exxon Mobil CorpXOM	PPI +1.37 points	2.33%	0.96%
Howmet Aerospace IncHWM	PPI +1.34 points	1.45%	0.11%
Entergy CorpETR	PPI +1.25 points	1.32%	0.07%
Ge Vernova IncGEV	PPI +1.23 points	1.52%	0.29%
Hunt (Jb) Transprt Svcs IncJBHT	PPI +1.20 points	1.22%	0.02%
Host Hotels & Resorts IncHST	PPI +1.18 points	1.20%	0.02%
Eog Resources IncEOG	PPI +1.07 points	1.18%	0.11%
United Rentals IncURI	PPI +0.96 points	1.05%	0.09%
Public Service Enterprise GpPEG	PPI +0.95 points	1.00%	0.05%
ConocophillipsCOP	PPI +0.95 points	1.18%	0.23%
Halliburton CoHAL	PPI +0.92 points	0.96%	0.04%
Cf Industries Holdings IncCF	PPI +0.91 points	0.94%	0.03%
Honeywell International IncHON	PPI +0.91 points	1.01%	0.10%
American Electric PowerAEP	PPI +0.89 points	0.99%	0.10%
Amcor PLCAMCR	PPI +0.83 points	0.86%	0.03%
Devon Energy CorpDVN	PPI +0.80 points	0.87%	0.07%
Vertiv Holdings Co-AVRT	PPI +0.73 points	0.83%	0.10%
Constellation EnergyCEG	PPI +0.70 points	0.81%	0.11%
Valero Energy CorpVLO	PPI +0.58 points	0.72%	0.14%
Apa CorpAPA	PPI +0.53 points	0.55%	0.02%
Baker Hughes CoBKR	PPI +0.52 points	0.58%	0.06%
Comfort Systems Usa IncFIX	PPI +0.52 points	0.57%	0.05%
Vistra CorpVST	PPI +0.51 points	0.56%	0.05%
Cummins IncCMI	PPI +0.50 points	0.59%	0.09%

All PPI 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.

PPI vs UCBG Cost

Overpaying PPI vs UCBG

$10,001

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

PPI 0.57%
$11,271
UCBG 0.06%
$1,270

Amount$10,000

Years30 years

Cost over time

PPI 0.57%
UCBG 0.06%
Overpaying

Year by year

Year	PPI	UCBG	Overpaying
10	$1,023	$110	$913
20	$3,921	$432	$3,489
30	$11,271	$1,270	$10,001

Expense ratio

0.57%PPI
0.06%UCBG, cheaper

UCBG0.06%PPI0.57%

0.06%1.36%

Middle half of Multi-Asset Allocation funds
Median 0.61%

UCBG cheapest of 36 funds

PPI 18th cheapest of 36 funds

PPI vs UCBG Dividends

Last 12 months to Nov 6, 2026

Yield (12M): PPI 1.56%; UCBG No data
Payout (12M): PPI $0.29; UCBG No data
Last payment: PPI $0.07; UCBG $0.04
Ex-dividend: PPI Sep 24, 2026; UCBG Sep 21, 2026
Paid on: PPI Sep 28, 2026; UCBG Sep 23, 2026
Frequency: PPI Quarterly; UCBG Irregular

Distribution history

Per share, 2022 to 2026, same scale for both

PPIQuarterly · 18 paymentsAll PPI payments⁠

UCBGIrregular · 1 paymentAll UCBG payments⁠

PPI vs UCBG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: PPI 14.9%UCBG No data
Return per unit of riskSharpe ratio, 3 years: PPI 0.91UCBG No data
Worst fallMax drawdown, 5 years: PPI −24.6%since Dec 2021UCBG No data
Market sensitivityBeta, 5 years: PPI 1.15UCBG 0.00; Market = 1

PPI 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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PPI vs UCBG

In short

Stated mandate

Why people hold it

Worth knowing

How PPI and UCBG differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in PPI

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 PPI and UCBG differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in PPI

Only in UCBG

Weight gaps