Methodology
The Qualivian Focus Fund ETF seeks to maximize long-term compounding of capital.
Its investment process minimizes those frictions that detract from long-term compounding of capital. These include excessive trading, over diversification, and reacting to short term noise.
To accomplish this, the Qualivian Focus Fund ETF combines the best elements of private equity exemplified by in-depth research, concentrated holdings, and long-term ownership with the flexibility, liquidity, and portfolio/risk management benefits of public equities.
The fund owns “Quality Compounders” companies with sustainable competitive advantages, strong free cash flow generation, and shareholder-friendly management teams that rationally reinvest back in the business at rates of return in excess of their cost of capital.
Companies that possess all these qualities are rare so Qualified Institutional Placement (QIP) buys them in concentration (20-30 holdings) and holds them for years (average 3-5 year holding period but ideally longer as long as thesis is intact), allowing their intrinsic value to compound over time.”
Investment Objective
The Qualivian Focus Fund ETF (the “Fund”) seeks to achieve long-term capital appreciation. It invests in a focused (20-30) portfolio of competitively advantaged, cash generative businesses that demonstrate durable, above-average earnings growth and superior capital allocation.
Why Invest in the ETF
- Leverages the Power of Compounding: Wealth is created by maximizing the long-term compounding of capital. Our investment process minimizes those frictions that detract from long term compounding of capital. These include excessive trading, over diversification, and reacting to short term noise.
- Intentionally Focused on our Best Ideas: Our concentrated fund consists of approximately 20-30 high-conviction, growth companies that meet our rigorous research criteria. We own these for the long term. We do not dilute our portfolio with stocks for the sake of diversification.
- US Focused: We focus on investments in the US that meet our stringent criteria. They tend to be rare, so we hold them for the long term, allowing their intrinsic value to compound over time.
- Cost Effective and Tax Efficient: The ETF enables us to deliver our focused strategy in a cost effective and tax efficient manner.
Fund Details
NAV and Market Price
Month-End Performance
Quarter-End Performance
The performance data quoted represents past performance and there is no guarantee of future results. Investment returns and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. The Fund is new and therefore does not have a performance history for a full calendar year as most recent quarter end.
Market Price Return is calculated using the price that investors buy and sell ETF shares in the market. The market returns in the table are based on the midpoint of the bid/ask spread at 4 p.m. EST and do not represent the returns you would have received if you traded shares at other times.
NAV return represents the closing price of the underlying securities.
Historical Premium / Discount
The Premium/Discount shows the difference between the daily market price of the Fund’s shares and the Fund’s net asset value (“NAV”). The table shows the premium or discount of the mid-point price as a percentage of the NAV as well as the number of trading days the Fund traded within the given premium/discount range.
The amount that the fund’s Market Price is above the reported NAV is called the premium. The amount that the fund’s Market Price is below the reported NAV is called the discount.
Completed Calendar Quarters of Current Year
Most Recent Completed Calendar Year
Fund Documents
Fund Distributions
Fund Holdings
Fund holdings and allocations are subject to change at any time and should not be considered a recommendation to buy or sell any security.