VALX ETF — Holdings & Analysis

For informational purposes only. Not financial advice.

Quick Answer

The investment seeks to track the performance, before fees and expenses, of the Validea Market Legends Index (the "index"). 0.79% expense ratio, $15M AUM, inception 2014.

Validea Market Legends ETF (VALX) ETF — Price, Holdings & Analysis

The investment seeks to track the performance, before fees and expenses, of the Validea Market Legends Index (the "index"). 0.79% expense ratio, $15M AUM, inception 2014.

ETF Overview

Under normal circumstances, at least 80% of the fund's total assets (exclusive of any collateral held from securities lending) will be invested in the component securities of the index. The index uses a proprietary, rules-based methodology created by Validea Capital Management, LLC, the fund's investment adviser (the "Adviser"), to select companies based on the published stock selection strategies of historically successful investors.

The investment seeks to track the performance, before fees and expenses, of the Validea Market Legends Index (the "index"). Under normal circumstances, at least 80% of the fund's total assets (exclusive of any collateral held from securities lending) will be invested in the component securities of the index. The index uses a proprietary, rules-based methodology created by Validea Capital Management, LLC, the fund's investment adviser (the "Adviser"), to select companies based on the published stock selection strategies of historically successful investors. Validea Market Legends ETF provides exposure to the equity market. Sector allocation is spread across 10 sectors, with Financial Services as the largest at 19.2%.

Risk Metrics

Validea Market Legends ETF holds only 0 positions, creating elevated concentration risk where poor performance from a few holdings can significantly impact returns. With a beta of 1.51, this fund is more volatile than the broader market. The 0.79% expense ratio is above average and will reduce net returns over time. With $15M in assets, the fund may face liquidity constraints and wider bid-ask spreads.

Expense Ratio

0.79%

What does VALX hold?

Holding	Weight
Renewable Energy Group Inc (REGI)	2.56%
Arena Pharmaceuticals Inc (ARNA)	2.32%
Office Depot Inc (ODP)	2.02%
Nu Skin Enterprises Inc Class A (NUS)	2.01%
Werner Enterprises Inc (WERN)	2.01%
KT Corp ADR (KT.KS)	1.95%
Kulicke & Soffa Industries Inc (KLIC)	1.89%
Ligand Pharmaceuticals Inc (LGND)	1.87%
Insight Enterprises Inc (NSIT)	1.82%
Fresh Del Monte Produce Inc (FDP)	1.81%

How Is the Fund Allocated?

Sector	Weight
Financial Services	19.2%
Industrials	17.2%
Consumer Cyclical	16.2%
Energy	11.4%
Basic Materials	11.3%
Healthcare	8.4%
Technology	6.7%
Communication Services	4.2%
Consumer Defensive	3.9%
Real Estate	1.5%

Dividend Yield

2.70%

iShares Russell 2000 ETF (IWM) — 0.19% expense ratio
ARK Innovation ETF (ARKK) — 0.75% expense ratio
State Street Technology Select Sector SPDR ETF (XLK) — 0.08% expense ratio
Invesco QQQ Trust, Series 1 (QQQ) — 0.18% expense ratio
iShares MSCI Emerging Markets ETF (EEM) — 0.72% expense ratio
iShares MSCI EAFE ETF (EFA) — 0.32% expense ratio
State Street Energy Select Sector SPDR ETF (XLE) — 0.08% expense ratio
State Street SPDR S&P 500 ETF (SPY) — 0.09% expense ratio

Risk Metrics

Beta: 1.51

Questions & Answers

What is Validea Market Legends ETF (VALX)?

The investment seeks to track the performance, before fees and expenses, of the Validea Market Legends Index (the "index").

Under normal circumstances, at least 80% of the fund's total assets (exclusive of any collateral held from securities lend With $15M in assets under management, it is a funds in its category.

What is the expense ratio for VALX?

Validea Market Legends ETF has an expense ratio of 0.79%, which is considered higher than average for equity ETFs. This means for every $10,000 invested, annual fees would be approximately $79.

Lower expense ratios generally lead to better long-term returns, all else being equal.

What are the top holdings in VALX?

The three largest positions in Validea Market Legends ETF are Renewable Energy Group Inc (REGI, 2.6%), Arena Pharmaceuticals Inc (ARNA, 2.3%), Office Depot Inc (ODP, 2.0%). Together these top three holdings represent 6.9% of the fund.

The fund is relatively diversified across its holdings.

What sectors does VALX invest in?

Validea Market Legends ETF allocates across 10 sectors. The largest sector exposures are Financial Services (19.2%), Industrials (17.2%), Consumer Cyclical (16.2%). The sector allocation provides broad market exposure across multiple industries.

How long has VALX been around?

Validea Market Legends ETF was launched in 2014, making it 12 years old. With over a decade of history, it has navigated various market conditions.

Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.

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