Our ETF

TUG

STF Management offers the STF Tactical Growth ETF (Ticker: TUG), a simple, rules-based approach to tactical asset allocation. TUG only seeks to understand what the market is doing, not why the market is doing what it’s doing. The strategy rotates between equity exposure through the Nasdaq-100 and fixed income using US Treasury bonds and bills based on proprietary signals.
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About TUG

TUG seeks long term growth of capital

The TUG strategy employs a rules-based approach to asset allocation

First Tactical Unconstrained Growth (TUG) Model signals were used in 2014, with analysis that expands over decades

The TUG strategy seeks to remain invested in equities when the market is rising, and seeks to reduce equity exposure when markets are falling

The TUG model allows for the optionality to play both offense and defense regardless of market conditions

Fund Details (as of 09/27/2022)

The 30-Day SEC Yield is computed as of the most recent month end under an SEC standardized formula based on net income earned over the past 30 days.

The distribution yield is calculated by annualizing the most recent distribution and dividing by the most recent fund NAV. The yield represents a single distribution from the fund and does not represent total return of the fund.

TUG Performance
as of 09/27/2022

Cumulative YTD 1M 3M 6M 1Y Since Inception
NAV - -2.52 -4.54 - - -3.17
Market Price - -2.77 -4.68 - - -3.24
Benchmark - - - - - -
YTD and Since Inception begin 5/18/2022
Total Expense Ratio for the Fund is 0.65%. The performance data quoted represents past performance and is no guarantee of future results. Investment return 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. Net Asset Value (NAV) is the dollar value of a single share based on the value of the underlying assets of the fund minus its liabilities, divided by the number of shares outstanding. Calculated each business day. Market Price is the current price at which shares are bought and sold. Market returns are based upon the last trade price.

Premiums and Discounts
as of 09/27/2022
Since Inception* Q1 Q2 Q3 Q4
Days traded at premium 17 -- 11 6 --
Days traded at discount 58 -- 13 45 --
Days traded at net asset value 2 -- 2 -- --
*Data starts at Date of Inception, 5/18/2022

Top Ten Holdings
Name Ticker CUSIP % of Fund Shares Held
UNITED STATES TREAS NTS 2.75% 04/30/2023 9128284L1 9128284L1 9.00% 13138900
UNITED STATES TREAS NTS 1.625% 04/30/2023 912828R28 912828R28 8.94% 13138900
UNITED STATES TREAS NTS 1.75% 05/15/2023 912828VB3 912828VB3 8.94% 13138900
UNITED STATES TREAS NTS 1.625% 05/31/2023 912828R69 912828R69 8.92% 13138900
UNITED STATES TREAS NTS 1.375% 06/30/2023 912828S35 912828S35 8.89% 13138900
UNITED STATES TREAS NTS 0.125% 05/31/2023 91282CCD1 91282CCD1 8.83% 13138900
UNITED STATES TREAS NTS 0.25% 06/15/2023 912828ZU7 912828ZU7 8.82% 13138900
UNITED STATES TREAS NTS 0.125% 07/15/2023 912828ZY9 912828ZY9 8.78% 13138900
UNITED STATES TREAS NTS 0.125% 07/31/2023 91282CCN9 91282CCN9 8.76% 13138900
UNITED STATES TREAS NTS 0.125% 08/15/2023 91282CAF8 91282CAF8 8.75% 13138900
Cash & Other Cash&Other Cash&Other 2.31% 3342186.98
APPLE INC AAPL 037833100 1.30% 12370
MICROSOFT CORP MSFT 594918104 0.93% 5683
AMAZON COM INC AMZN 023135106 0.61% 7726
TESLA INC TSLA 88160R101 0.47% 2407
ALPHABET INC GOOG 02079K107 0.32% 4737
ALPHABET INC GOOGL 02079K305 0.31% 4553
META PLATFORMS INC META 30303M102 0.24% 2619
NVIDIA CORPORATION NVDA 67066G104 0.23% 2717
PEPSICO INC PEP 713448108 0.20% 1738
COSTCO WHSL CORP NEW COST 22160K105 0.18% 560
BROADCOM INC AVGO 11135F101 0.17% 519
CISCO SYS INC CSCO 17275R102 0.15% 5218
T-MOBILE US INC TMUS 872590104 0.14% 1572
TEXAS INSTRS INC TXN 882508104 0.13% 1164
COMCAST CORP NEW CMCSA 20030N101 0.12% 5654
QUALCOMM INC QCOM 747525103 0.12% 1429
ADOBE SYSTEMS INCORPORATED ADBE 00724F101 0.11% 591
INTUIT INTU 461202103 0.10% 356
AMGEN INC AMGN 031162100 0.10% 670
ADVANCED MICRO DEVICES INC AMD 007903107 0.10% 2060
INTEL CORP INTC 458140100 0.10% 5200
HONEYWELL INTL INC HON 438516106 0.10% 859
PAYPAL HLDGS INC PYPL 70450Y103 0.09% 1458
NETFLIX INC NFLX 64110L106 0.09% 564
AUTOMATIC DATA PROCESSING INC COM ADP 053015103 0.08% 528
STARBUCKS CORP SBUX 855244109 0.08% 1445
MONDELEZ INTL INC MDLZ 609207105 0.07% 1741
GILEAD SCIENCES INC GILD 375558103 0.07% 1566
REGENERON PHARMACEUTICALS REGN 75886F107 0.07% 137
BOOKING HOLDINGS INC BKNG 09857L108 0.06% 51
INTUITIVE SURGICAL INC ISRG 46120E602 0.06% 454
APPLIED MATLS INC AMAT 038222105 0.06% 1110
VERTEX PHARMACEUTICALS INC VRTX 92532F100 0.06% 320
ANALOG DEVICES INC ADI 032654105 0.06% 662
CSX CORP CSX 126408103 0.05% 2806
CHARTER COMMUNICATIONS INC NEW CL A CHTR 16119P108 0.05% 214
MICRON TECHNOLOGY INC MU 595112103 0.05% 1415
ACTIVISION BLIZZARD INC ATVI 00507V109 0.05% 977
LAM RESEARCH CORP LRCX 512807108 0.05% 176
FISERV INC FISV 337738108 0.05% 816
AIRBNB INC ABNB 009066101 0.04% 484
PALO ALTO NETWORKS INC PANW 697435105 0.04% 375
MARRIOTT INTL INC NEW MAR 571903202 0.04% 414
MERCADOLIBRE INC MELI 58733R102 0.04% 64
MONSTER BEVERAGE CORP NEW MNST 61174X109 0.04% 663
MODERNA INC MRNA 60770K107 0.04% 507
OREILLY AUTOMOTIVE INC ORLY 67103H107 0.04% 83
PAYCHEX INC PAYX 704326107 0.04% 462
SYNOPSYS INC SNPS 871607107 0.04% 194
KLA CORP KLAC 482480100 0.04% 192
KRAFT HEINZ CO KHC 500754106 0.04% 1552
KEURIG DR PEPPER INC KDP 49271V100 0.04% 1789
AUTODESK INC ADSK 052769106 0.04% 275
AMERICAN ELEC PWR CO INC AEP 025537101 0.04% 651
CADENCE DESIGN SYSTEM INC CDNS 127387108 0.04% 348
COGNIZANT TECHNOLOGY SOLUTIONS CL A CTSH 192446102 0.03% 651
XCEL ENERGY INC XEL 98389B100 0.03% 689
WORKDAY INC WDAY 98138H101 0.03% 244
ATLASSIAN CORP PLC TEAM G06242104 0.03% 179
ASML HOLDING N V ASML N07059210 0.03% 109
ASTRAZENECA PLC AZN 046353108 0.03% 748
ROSS STORES INC ROST 778296103 0.03% 444
BIOGEN INC BIIB 09062X103 0.03% 185
CROWDSTRIKE HLDGS INC CRWD 22788C105 0.03% 264
CINTAS CORP CTAS 172908105 0.03% 131
NXP SEMICONDUCTORS N V NXPI N6596X109 0.03% 329
PACCAR INC PCAR 693718108 0.03% 440
ILLUMINA INC ILMN 452327109 0.03% 201
MARVELL TECHNOLOGY INC MRVL 573874104 0.03% 1083
EXELON CORP EXC 30161N101 0.03% 1246
FORTINET INC FTNT 34959E109 0.03% 997
ELECTRONIC ARTS INC EA 285512109 0.03% 359
DEXCOM INC DXCM 252131107 0.03% 495
LULULEMON ATHLETICA INC LULU 550021109 0.03% 155
MICROCHIP TECHNOLOGY INC. MCHP 595017104 0.03% 690
DOLLAR TREE INC DLTR 256746108 0.03% 277
IDEXX LABS INC IDXX 45168D104 0.02% 106
WALGREENS BOOTS ALLIANCE INC COM WBA 931427108 0.02% 1100
FASTENAL CO FAST 311900104 0.02% 726
VERISIGN INC VRSN 92343E102 0.02% 139
VERISK ANALYTICS INC VRSK 92345Y106 0.02% 200
LUCID GROUP INC LCID 549498103 0.02% 2216
ZOOM VIDEO COMMUNICATIONS INC CL A ZM 98980L101 0.02% 313
ZSCALER INC ZS 98980G102 0.02% 175
ANSYS INC ANSS 03662Q105 0.02% 110
DATADOG INC DDOG 23804L103 0.02% 358
SIRIUS XM HOLDINGS INC SIRI 82968B103 0.02% 4917
EBAY INC. EBAY 278642103 0.02% 702
BAIDU INC BIDU 056752108 0.02% 290
CONSTELLATION ENERGY CORP CEG 21037T109 0.02% 416
PINDUODUO INC PDD 722304102 0.02% 549
JD.COM INC JD 47215P106 0.02% 646
COPART INC CPRT 217204106 0.02% 299
OLD DOMINION FREIGHT LINE INC COM ODFL 679580100 0.02% 144
SEAGEN INC SGEN 81181C104 0.02% 234
SPLUNK INC SPLK 848637104 0.01% 205
SKYWORKS SOLUTIONS INC SWKS 83088M102 0.01% 206
NETEASE INC NTES 64110W102 0.01% 232
ALIGN TECHNOLOGY INC ALGN 016255101 0.01% 100
DOCUSIGN INC DOCU 256163106 0.01% 247
OKTA INC OKTA 679295105 0.01% 188
MATCH GROUP INC NEW MTCH 57667L107 0.01% 364

Data as of 09/28/2022.

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Yield Details(as of 09/27/2022)
30-day SEC Yield 1.38
Distribution Yield 1.56%

Distribution
Ex/EFF Date Type Cash Amount Declaration Date Record Date Payment Date
06/22/2022 CASH $0.009805450 06/24/2022 06/23/2022 06/24/2022
09/21/2022 CASH $0.093000000 09/23/2022 09/22/2022 09/23/2022

Important Information

Investors should consider the investment objectives, risks, charges and expenses carefully before investing. For a prospectus or summary prospectus with this and other information about the Fund, visit our website at www.stfm.com. Read the prospectus or summary prospectus carefully before investing.

Investing in ETFs involves risk and there is no guarantee of principal.

Because the Fund is an ETF (rather than a mutual fund), shares are bought and sold at market price (not NAV), may trade at a discount or premium to NAV and are not individually redeemable. Owners of shares may acquire those shares from the Fund and tender those shares for redemption to the Fund in Creation Unit aggregations only. Brokerage commissions will reduce returns.

Cash Redemption Risk. The Fund’s investment strategy may, at times, require it to redeem shares for cash or to otherwise include cash as part of its redemption proceeds. In that case, the Fund may be required to sell or unwind portfolio investments to obtain the cash needed, which may cause the Fund to recognize a capital gain that it might not have recognized if it had made a redemption in kind. Derivatives (Options) Risk. The Fund invests in options that derive their performance from that of the Nasdaq-100 Index. Derivatives may be more sensitive to changes in market conditions and may amplify risks. Selling and buying options are speculative activities and entail greater than ordinary investment risks. Fixed income Risk. Fixed income investments are subject to changes in governmental policy and market conditions, which may cause such investments to be subject to significant volatility and reduced liquidity, depending on the environment. Fixed Income – Call Risk. During periods of falling interest rates, an issue of a callable bond held by the Fund may call or repay the security before maturity, causing the Fund to reinvest proceeds at a lower interest rate. Fixed Income – Credit Risk. Debt issuers and other counterparties may not honor their obligations or have their debt downgraded by ratings agencies. Fixed Income – Extension Risk. During periods of rising interest rates, certain debt obligations will be paid off more slowly than anticipated, causing the value of those securities to fall. This may result in a decline in the Fund’s income and potential the value of the Fund’s investments. Fixed Income – Interest Rate Risk. Rising interest rates may cause the value of fixed-income securities held by the Fund to decline. Large-Capitalization Investing Risk. The securities or large capitalization companies may be relatively mature compared to smaller companies and therefor subject to slower growth during times of economic expansion. Management Risk. The Fund is actively managed and may not meet its investment objective based on the Adviser’s success or failure in implementing the Fund’s strategy. Models and Data Risk. When models and data prove to be incorrect or incomplete, decisions made based on them can expose the Fund to potential risks. New Fund Risk. The Fund is recently organized with no operating history and managed by an Adviser that has not previously managed a registered fund. As such, the Fund has no track record on which to base investment decisions. Non-Diversification Risk. Because the Fund is “non-diversified,” it may invest a greater percentage of its assets in securities of a single issuer or fewer issuers than a diversified fund, which may expose the Fund to the risks associated with the developments affecting the issuers in which the Fund invests. Other Investment Company Risk. By investing in another investment company, including ETFs, the Fund becomes a shareholder of that investment company and bears its proportionate share of the fees and expenses of that investment company. In addition, the Fund is also subject to the principal risks of the investment companies in which it invests U.S. Treasury Obligations Risk. Changes to the financial condition or credit rating of the U.S. government may cause the value of the Fund’s U.S. Treasury obligations to decline.

The Nasdaq 100 Index is a basket of the 100 largest, most actively traded U.S companies listed on the Nasdaq stock exchange. The index includes companies from various industries except for the financial industry, like commercial and investment banks. These non-financial sectors include retail, biotechnology, industrial, technology, health care, and others. Indexes cannot be invested in directly.

STF Management, LP serves as the Fund’s investment adviser.

The Fund is distributed by Foreside Fund Services, LLC.

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    If you have questions or comments about the products or services of STF Management please let us know by completing the form below.  Additionally, if you would like to receive regular updates and market commentary please complete the form below.

    Investors should consider the investment objectives, risks, charges and expenses carefully before investing. For a prospectus or summary prospectus with this and other information about the Fund, visit our website at www.stfm.com. Read the prospectus or summary prospectus carefully before investing.

    Investing in ETFs involves risk and there is no guarantee of principal. The Fund is distributed by Foreside Fund Services, LLC.

    © 2022 STF Management LP. All rights reserved.

    All investments involve risk, including the possible loss of capital. The products and services of STF Management LP are not available in all jurisdictions or regions where such provision would be contrary to local laws or regulations.