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 02/07/2023)

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 02/07/2023

Cumulative YTD 1M 3M 6M 1Y Since Inception
NAV 5.44 5.44 -3.50 -7.00 - -7.62
Market Price 5.40 5.40 -3.55 -7.41 - -7.86
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 02/07/2023
Since Inception* Q1 Q2 Q3 Q4
Days traded at premium 27 1 -- -- --
Days traded at discount 107 3 -- -- --
Days traded at net asset value 3 -- -- -- --
*Data starts at Date of Inception, 5/18/2022

Top Ten Holdings
Name Ticker CUSIP % of Fund Shares Held
MICROSOFT CORP MSFT 594918104 6.54% 30975
APPLE INC AAPL 037833100 6.52% 53429
UNITED STATES TREAS NTS 2.875% 10/31/2023 9128285K2 9128285K2 4.62% 5935000
UNITED STATES TREAS NTS 0.125% 07/15/2023 912828ZY9 912828ZY9 4.59% 5935000
UNITED STATES TREAS NTS 2.125% 11/30/2023 912828U57 912828U57 4.58% 5935000
UNITED STATES TREAS NTS 0.125% 07/31/2023 91282CCN9 91282CCN9 4.58% 5935000
UNITED STATES TREAS NTS 0.125% 08/15/2023 91282CAF8 91282CAF8 4.57% 5935000
UNITED STATES TREAS NTS 0.125% 08/31/2023 91282CCU3 91282CCU3 4.56% 5935000
UNITED STATES TREAS NTS 0.125% 10/15/2023 91282CAP6 91282CAP6 4.53% 5935000
UNITED STATES TREAS NTS 0.375% 10/31/2023 91282CDD0 91282CDD0 4.53% 5935000
UNITED STATES TREAS NTS 0.25% 11/15/2023 91282CAW1 91282CAW1 4.52% 5935000
UNITED STATES TREAS NTS 0.75% 12/31/2023 91282CDR9 91282CDR9 4.51% 5935000
AMAZON COM INC AMZN 023135106 3.42% 42476
NVIDIA CORPORATION NVDA 67066G104 2.32% 13260
ALPHABET INC GOOG 02079K107 2.16% 25323
ALPHABET INC GOOGL 02079K305 2.15% 25312
TESLA INC TSLA 88160R101 2.04% 13131
META PLATFORMS INC META 30303M102 1.83% 12136
BROADCOM INC AVGO 11135F101 1.06% 2194
PEPSICO INC PEP 713448108 1.01% 7459
COSTCO WHSL CORP NEW COST 22160K105 0.98% 2395
CISCO SYS INC CSCO 17275R102 0.84% 22248
ADOBE SYSTEMS INCORPORATED ADBE 00724F101 0.76% 2513
T-MOBILE US INC TMUS 872590104 0.76% 6729
COMCAST CORP NEW CMCSA 20030N101 0.73% 23364
TEXAS INSTRS INC TXN 882508104 0.71% 4906
NETFLIX INC NFLX 64110L106 0.69% 2416
QUALCOMM INC QCOM 747525103 0.65% 6070
ADVANCED MICRO DEVICES INC AMD 007903107 0.59% 8700
HONEYWELL INTL INC HON 438516106 0.59% 3638
AMGEN INC AMGN 031162100 0.56% 2887
STARBUCKS CORP SBUX 855244109 0.52% 6220
INTEL CORP INTC 458140100 0.51% 22288
INTUIT INTU 461202103 0.51% 1520
GILEAD SCIENCES INC GILD 375558103 0.46% 6779
APPLIED MATLS INC AMAT 038222105 0.44% 4656
BOOKING HOLDINGS INC BKNG 09857L108 0.42% 214
PAYPAL HLDGS INC PYPL 70450Y103 0.41% 6174
AUTOMATIC DATA PROCESSING INC COM ADP 053015103 0.40% 2248
ANALOG DEVICES INC ADI 032654105 0.39% 2754
INTUITIVE SURGICAL INC ISRG 46120E602 0.38% 1921
MONDELEZ INTL INC MDLZ 609207105 0.38% 7392
REGENERON PHARMACEUTICALS REGN 75886F107 0.35% 582
VERTEX PHARMACEUTICALS INC VRTX 92532F100 0.34% 1391
FISERV INC FISV 337738108 0.31% 3441
LAM RESEARCH CORP LRCX 512807108 0.31% 737
CSX CORP CSX 126408103 0.29% 11357
MICRON TECHNOLOGY INC MU 595112103 0.29% 5858
MODERNA INC MRNA 60770K107 0.28% 2080
CHARTER COMMUNICATIONS INC NEW CL A CHTR 16119P108 0.27% 847
Cash & Other Cash&Other Cash&Other 0.27% 343366.96
ASML HOLDING N V ASML N07059210 0.26% 479
ACTIVISION BLIZZARD INC ATVI 00507V109 0.25% 4236
KLA CORP KLAC 482480100 0.25% 763
MERCADOLIBRE INC MELI 58733R102 0.25% 273
MARRIOTT INTL INC NEW MAR 571903202 0.24% 1716
SYNOPSYS INC SNPS 871607107 0.24% 831
MONSTER BEVERAGE CORP NEW MNST 61174X109 0.23% 2834
CADENCE DESIGN SYSTEM INC CDNS 127387108 0.22% 1489
AUTODESK INC ADSK 052769106 0.21% 1168
KEURIG DR PEPPER INC KDP 49271V100 0.21% 7652
KRAFT HEINZ CO KHC 500754106 0.21% 6628
NXP SEMICONDUCTORS N V NXPI N6596X109 0.21% 1401
OREILLY AUTOMOTIVE INC ORLY 67103H107 0.21% 340
PALO ALTO NETWORKS INC PANW 697435105 0.21% 1630
AIRBNB INC ABNB 009066101 0.20% 2157
AMERICAN ELEC PWR CO INC AEP 025537101 0.20% 2806
MICROCHIP TECHNOLOGY INC. MCHP 595017104 0.20% 2978
CINTAS CORP CTAS 172908105 0.19% 553
PINDUODUO INC PDD 722304102 0.19% 2549
BIOGEN INC BIIB 09062X103 0.18% 781
DEXCOM INC DXCM 252131107 0.18% 2096
FORTINET INC FTNT 34959E109 0.18% 4234
IDEXX LABS INC IDXX 45168D104 0.18% 449
PAYCHEX INC PAYX 704326107 0.18% 1954
ASTRAZENECA PLC AZN 046353108 0.17% 3305
EXELON CORP EXC 30161N101 0.17% 5384
LULULEMON ATHLETICA INC LULU 550021109 0.17% 664
MARVELL TECHNOLOGY INC MRVL 573874104 0.17% 4627
OLD DOMINION FREIGHT LINE INC COM ODFL 679580100 0.17% 600
ROSS STORES INC ROST 778296103 0.17% 1883
WORKDAY INC WDAY 98138H101 0.17% 1096
PACCAR INC PCAR 693718108 0.16% 4234
WARNER BROS DISCOVERY INC WBD 934423104 0.16% 13060
XCEL ENERGY INC XEL 98389B100 0.16% 2967
COGNIZANT TECHNOLOGY SOLUTIONS CL A CTSH 192446102 0.15% 2784
GLOBALFOUNDRIES INC GFS G39387108 0.15% 2943
ILLUMINA INC ILMN 452327109 0.15% 859
BAKER HUGHES COMPANY BKR 05722G100 0.14% 5381
COPART INC CPRT 217204106 0.14% 2588
COSTAR GROUP INC CSGP 22160N109 0.14% 2198
DOLLAR TREE INC DLTR 256746108 0.14% 1200
WALGREENS BOOTS ALLIANCE INC COM WBA 931427108 0.14% 4683
ELECTRONIC ARTS INC EA 285512109 0.13% 1498
ENPHASE ENERGY INC ENPH 29355A107 0.13% 742
FASTENAL CO FAST 311900104 0.13% 3102
ALIGN TECHNOLOGY INC ALGN 016255101 0.12% 428
CONSTELLATION ENERGY CORP CEG 21037T109 0.12% 1773
EBAY INC. EBAY 278642103 0.12% 2939
JD.COM INC JD 47215P106 0.12% 2644
ATLASSIAN CORPORATION TEAM 049468101 0.12% 810
VERISK ANALYTICS INC VRSK 92345Y106 0.12% 849
CROWDSTRIKE HLDGS INC CRWD 22788C105 0.11% 1184
DIAMONDBACK ENERGY INC FANG 25278X109 0.11% 952
SEAGEN INC SGEN 81181C104 0.11% 1013
ANSYS INC ANSS 03662Q105 0.10% 473
DATADOG INC DDOG 23804L103 0.10% 1587
ZOOM VIDEO COMMUNICATIONS INC CL A ZM 98980L101 0.09% 1334
ZSCALER INC ZS 98980G102 0.09% 782
LUCID GROUP INC LCID 549498103 0.08% 9082
RIVIAN AUTOMOTIVE INC RIVN 76954A103 0.08% 4940
SIRIUS XM HOLDINGS INC SIRI 82968B103 0.08% 21027

Data as of 02/08/2023.

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Yield Details(as of 02/07/2023)
30-day SEC Yield 2.11%
Distribution Yield 2.44%

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
12/21/2022 CASH $0.142893570 12/23/2022 12/22/2022 12/23/2022

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.