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Relative Sentiment Tactical Allocation ETF
Active ETF
MOOD
Payout Change
Pending
Price as of:
$43.8517
+0.18
+0.41%
primary theme
N/A
MOOD (ETF)
Relative Sentiment Tactical Allocation ETF
Payout Change
Pending
Price as of:
$43.8517
+0.18
+0.41%
primary theme
N/A
MOOD (ETF)
Relative Sentiment Tactical Allocation ETF
Payout Change
Pending
Price as of:
$43.8517
+0.18
+0.41%
primary theme
N/A
Name
As of 06/12/2026Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
14.1%
1 yr return
34.4%
3 Yr Avg Return
20.2%
5 Yr Avg Return
N/A
Net Assets
$143 M
Holdings in Top 10
94.5%
52 WEEK LOW AND HIGH
$43.7
$32.39
$44.23
Expenses
OPERATING FEES
Expense Ratio 0.73%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover N/A
Redemption Fee N/A
Min Investment
Standard (Taxable)
N/A
IRA
N/A
Fund Classification
Fund Type
Exchange Traded Fund
Name
As of 06/12/2026Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
MOOD - Profile
Distributions
- YTD Total Return 14.1%
- 3 Yr Annualized Total Return 20.2%
- 5 Yr Annualized Total Return N/A
- Capital Gain Distribution Frequency N/A
- Net Income Ratio N/A
- Dividend Yield 0.4%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameRelative Sentiment Tactical Allocation ETF
-
Fund Family NameN/A
-
Inception DateMay 18, 2022
-
Shares OutstandingN/A
-
Share ClassN/A
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerRaymond Micaletti
Fund Description
The Fund is an actively managed ETF that seeks capital appreciation by tactically allocating its assets among other ETFs and exchange-traded products (“ETPs”) that provide exposure to equities, fixed income, commodities (including gold), and currencies. The Fund’s allocations are driven by the Sub-Adviser’s assessment of “relative sentiment,” which reflects how institutional investors are positioned compared to retail investors, based on a combination of public and third-party data.
In the Sub-Adviser’s view, increasing relative sentiment for a particular asset class suggests that institutional investors have become more bullish on that asset class than retail investors, while decreasing relative sentiment suggests the opposite. The Sub-Adviser generally allocates the Fund’s portfolio among broad U.S. and foreign equity ETFs, bond ETFs, and, at times, commodity or currency ETPs based on this analysis. In general, asset classes more strongly favored by institutional investors relative to retail investors receive higher allocations, while less favored asset classes receive lower allocations.
The Fund’s equity allocation is determined using multiple sentiment-based indicators, which are combined to produce an overall target allocation. These indicators incorporate information such as investor positioning, survey data, relationships across asset classes, and retail investor sentiment related to macroeconomic conditions. Together, these indicators determine the Fund’s overall allocation to equities and are then used to allocate across U.S. and non-U.S. equities, geographic regions, market capitalizations (e.g., large-cap vs. small-cap), and other factors.
For the Fund’s non-equity investments, the Sub-Adviser uses relative sentiment models (referred to as “signals”) for asset classes such as the U.S. dollar, bonds, broad commodities, and precious metals. The Fund will generally invest in these asset classes only when the models indicate positive (bullish) relative sentiment. The size of each allocation is primarily based on (1) the signal’s historical performance (including measures of return and risk) and (2) the expected duration of the signal. Signals with stronger historical performance and longer expected duration will generally receive larger allocations than those with weaker performance or shorter expected duration, all else being equal.
The Fund’s allocation to fixed income ETFs focuses on high-quality bonds and Treasury Inflation-Protected Securities (“TIPS”). The Sub-Adviser may adjust interest rate exposure by investing in ETFs with varying durations. The Fund may also allocate a portion of its assets to commodities (including gold), currencies, and sector-specific equity ETFs to enhance diversification or respond to market conditions. The Fund’s exposure to commodities (including gold) is generally limited to approximately 20% of its total assets.
In addition, the Fund may invest in passively or actively managed ETFs (including ETFs managed by the Fund’s investment adviser) that utilize derivatives, such as options or swaps, as part of strategies designed to help limit losses during market declines or periods of elevated volatility, and/or to seek to benefit from significant market dislocations (also referred to as “tail risk events”), which generally involve sharp market declines (typically greater than 25% over a relatively short period) accompanied by increased volatility (collectively, “Risk-Based Strategies”).
Portfolio allocations are evaluated on an ongoing basis, and the Fund is rebalanced as needed in response to significant changes in relative sentiment, with the goal of limiting unnecessary portfolio turnover.
MOOD - Performance
Return Ranking - Trailing
| Period | MOOD Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 14.1% | N/A | N/A | N/A |
| 1 Yr | 34.4% | N/A | N/A | N/A |
| 3 Yr | 20.2%* | N/A | N/A | N/A |
| 5 Yr | N/A* | N/A | N/A | N/A |
| 10 Yr | N/A* | N/A | N/A | N/A |
* Annualized
Return Ranking - Calendar
| Period | MOOD Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2025 | 29.9% | N/A | N/A | N/A |
| 2024 | 11.1% | N/A | N/A | N/A |
| 2023 | 11.1% | N/A | N/A | N/A |
| 2022 | N/A | N/A | N/A | N/A |
| 2021 | N/A | N/A | N/A | N/A |
Total Return Ranking - Trailing
| Period | MOOD Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 14.1% | N/A | N/A | N/A |
| 1 Yr | 34.4% | N/A | N/A | N/A |
| 3 Yr | 20.2%* | N/A | N/A | N/A |
| 5 Yr | N/A* | N/A | N/A | N/A |
| 10 Yr | N/A* | N/A | N/A | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | MOOD Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2025 | 30.4% | N/A | N/A | N/A |
| 2024 | 12.5% | N/A | N/A | N/A |
| 2023 | 12.6% | N/A | N/A | N/A |
| 2022 | N/A | N/A | N/A | N/A |
| 2021 | N/A | N/A | N/A | N/A |
MOOD - Holdings
Concentration Analysis
| MOOD | Category Low | Category High | MOOD % Rank | |
|---|---|---|---|---|
| Net Assets | 143 M | N/A | N/A | N/A |
| Number of Holdings | 13 | N/A | N/A | N/A |
| Net Assets in Top 10 | 102 M | N/A | N/A | N/A |
| Weighting of Top 10 | 94.45% | N/A | N/A | N/A |
Top 10 Holdings
- Alpha Architect 1-3 Month Box ETF 18.12%
- State Street SPDR SP 500 ETF Trust 12.73%
- State Street Energy Select Sector SPDR ETF 12.50%
- iShares Core MSCI EAFE ETF 9.85%
- iShares 20+ Year Treasury Bond ETF 9.80%
- Graniteshares Gold Trust 9.65%
- abrdn Bloomberg All Commodity Strategy K-1 Free ETF 8.27%
- Invesco DB US Dollar Index Bullish Fund 5.26%
- iShares MSCI Global Gold Miners ETF 4.25%
- Amplify Junior Silver Miners ETF 4.02%
Asset Allocation
| Weighting | Return Low | Return High | MOOD % Rank | |
|---|---|---|---|---|
| Stocks | 99.95% | N/A | N/A | N/A |
| Cash | 0.11% | N/A | N/A | N/A |
| Preferred Stocks | 0.00% | N/A | N/A | N/A |
| Other | 0.00% | N/A | N/A | N/A |
| Convertible Bonds | 0.00% | N/A | N/A | N/A |
| Bonds | 0.00% | N/A | N/A | N/A |
Stock Sector Breakdown
| Weighting | Return Low | Return High | MOOD % Rank | |
|---|---|---|---|---|
| Utilities | 0.00% | N/A | N/A | N/A |
| Technology | 0.00% | N/A | N/A | N/A |
| Real Estate | 0.00% | N/A | N/A | N/A |
| Industrials | 0.00% | N/A | N/A | N/A |
| Healthcare | 0.00% | N/A | N/A | N/A |
| Financial Services | 0.00% | N/A | N/A | N/A |
| Energy | 0.00% | N/A | N/A | N/A |
| Communication Services | 0.00% | N/A | N/A | N/A |
| Consumer Defense | 0.00% | N/A | N/A | N/A |
| Consumer Cyclical | 0.00% | N/A | N/A | N/A |
| Basic Materials | 0.00% | N/A | N/A | N/A |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | MOOD % Rank | |
|---|---|---|---|---|
| US | 99.95% | N/A | N/A | N/A |
| Non US | 0.00% | N/A | N/A | N/A |
MOOD - Expenses
Operational Fees
| MOOD Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.73% | N/A | N/A | N/A |
| Management Fee | 0.65% | N/A | N/A | N/A |
| 12b-1 Fee | N/A | N/A | N/A | N/A |
| Administrative Fee | N/A | N/A | N/A | N/A |
Sales Fees
| MOOD Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | N/A | N/A | N/A |
| Deferred Load | N/A | N/A | N/A | N/A |
Trading Fees
| MOOD Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | N/A | N/A | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| MOOD Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | N/A | N/A | N/A | N/A |
MOOD - Distributions
Dividend Yield Analysis
| MOOD | Category Low | Category High | MOOD % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.36% | N/A | N/A | N/A |
Dividend Distribution Analysis
| MOOD | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annual |
Net Income Ratio Analysis
| MOOD | Category Low | Category High | MOOD % Rank | |
|---|---|---|---|---|
| Net Income Ratio | N/A | N/A | N/A | N/A |
Capital Gain Distribution Analysis
| MOOD | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 30, 2025 | $0.155 | OrdinaryDividend |
| Dec 30, 2024 | $0.394 | OrdinaryDividend |
| Dec 20, 2023 | $0.358 | OrdinaryDividend |
| Dec 29, 2022 | $0.344 | OrdinaryDividend |
MOOD - Fund Manager Analysis
Managers
Raymond Micaletti
Start Date
Tenure
Tenure Rank
May 18, 2022
0.04
0.0%
Dr. Micaletti is the founder and CEO of Relative Sentiment Technologies, LLC. He has over 20 years’ experience at major investment banks, hedge funds, and asset management firms. Since 2003 his focus has been on the development of systematic trading strategies. He started at Fortress Investment Group, where from 2004-2008 he developed and managed a suite of quantitative global long/short equity strategies. From 2009 to 2014—first at Macrosignal and later at Telluride Asset Management—he built and traded an ensemble of systematic short-term global macro strategies. Dr. Micaletti has extensive experience in the financial industry working as a global macro portfolio manager, investment strategist, and risk analyst. Ray brings specialized expertise in the development of systematic strategies and quantitative risk management.
Brandon Koepke
Start Date
Tenure
Tenure Rank
May 18, 2022
0.04
0.0%
Mr. Brandon Koepke serves as Chief Technology Officer & Portfolio Manager. Mr. Koepke has a BSc in Computer Science specializing in Software Engineering at the University of Calgary and a BComm in Finance from the Haskayne School of Business.
Richard Shaner
Start Date
Tenure
Tenure Rank
May 18, 2022
0.04
0.0%
Mr. Richard Shaner has been portfolio manager of the Fund since 2021. Mr. Shaner has advised on trading and execution matters for the Adviser since January 2021, where he supports trading operations and assists in quantitative research. Prior to Mr. Shaner’s tenure with the Adviser, Mr. Shaner executed various trading strategies for a private family office. Mr. Shaner has a B.Sc in Kinesiology and Applied Physiology from the University of Colorado. He is also a CFA® Charterholder.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| N/A | N/A | N/A | N/A |
