CHGX
AXS Change Finance ESG ETF
CHGX tracks an index of 100 US large-cap stocks that meet diverse environmental, social, and governance standards.
US
EQUITY
Rules-Based
MANAGEMENT STYLE
137.9 M
ASSETS UNDER MGMT
49 bp
EXPENSES
Fund Basics
| Fund sponsor | Change Finance |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Oct 09, 2017 |
| Assets (mns) | $138 |
| Expense ratio | 49 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Annually |
| Taxation | 1099 |
| Stock selection | Principles-based |
| Weighting | Tiered |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| AST SPACEMOBILE, INC. CLASS A | 1.8 % |
| ADVANCED MICRO DEVICES | 1.5 % |
| INTEL CORP | 1.5 % |
| VERTIV HOLDINGS CO. CLASS A | 1.3 % |
| APPLIED MATERIALS INC | 1.3 % |
| DELL TECHNOLOGIES INC CLASS C | 1.2 % |
| MARVELL TECHNOLOGY, INC. | 1.2 % |
| KLA CORPORATION | 1.2 % |
| ESTEE LAUDER COMPANIES-CL A | 1.2 % |
| CROWDSTRIKE HOLDINGS, INC. CLASS A | 1.2 % |
Constituent Breakdown
| Number of holdings | 100 |
| Herfindahl-Hirschman Index | 103 |
| Wgt avg mkt cap (mns) | $185,474 |
| Large cap (>$10bn) | 93.0% |
| Mid cap ($2-10bn) | 1.8% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 98.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 95.0 % |
 |
IRELAND | 3.0 % |
 |
AUSTRALIA | 0.9 % |
 |
LUXEMBOURG | 0.9 % |
Historical Performance
Standardized Performance (as of 10/31/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 13.6% | 13.5% | 22.4% | 16.7% | 11.5% | -- | -- | 11.4% |
| Dividend Yield | -0.3% | -0.6% | 1.7% | 0.9% | 0.4% | -- | -- | 1.0% |
| Total Returns | 13.2% | 12.9% | 24.1% | 17.6% | 12.0% | -- | -- | 12.4% | Ann. Volatility | 18.7% | 18.2% | 15.6% | 42.0% | 35.1% | -- | -- | 47.2% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.25 | 39% |
| MSCI EAFE | 0.88 | 25% |
| MSCI Emg Mkts | 0.48 | 9% |
Liquidity Measures
| Avg. volume (000) | 7 |
| ADV traded (mns) | $0 |
| Turnover | 0.1% |
| Avg. Bid/Ask (% of price) | 0.09% |
Technical Indicators
| Recent close | $27.72 |
| 30d moving avg. | $27.55 |
| Annualized volatility | 25.8% |
| Relative strength (RSI) | 56 |
| Short interest | 0.4% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. |
Expenses vs. |
ALTAR Score™ vs. |
|---|---|---|---|---|
| QQEW | First Trust Nasdaq-100 Equal Weighted Index Fund | 35.9% | +9 bp | +4.4% |
| QQQE | Direxion NASDAQ-100 Equal Weighted Index Shares | 34.0% | -14 bp | +4.0% |
| EQWL | Invesco S&P 100 Equal Weight ETF | 31.2% | -24 bp | +6.1% |
| RSPT | Invesco S&P 500 Equal Weight Technology ETF | 30.8% | -9 bp | +5.4% |
| JOET | Virtus Terranova US Quality Momentum ETF | 30.5% | -20 bp | +4.8% |
| LCOW | Pacer S&P 500 Quality FCF Aristocrats ETF | 30.1% | 0 bp | +6.0% |
| JQUA | JPMorgan U.S. Quality Factor ETF | 30.0% | -37 bp | +5.9% |
| USXF | iShares ESG Advanced MSCI USA ETF | 30.0% | -39 bp | +4.6% |
| ACVF | American Conservative Values ETF | 29.5% | +26 bp | +4.2% |
| VEGN | US Vegan Climate ETF | 29.2% | +11 bp | +4.4% |
Risk and Returns: CHGX vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2024 | 2025 | 2026 | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 11/3/2025
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
NEUTRAL
Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.
ALTAR Score™
CHGX
5.1%
Cat. Avg
5.6%
ALTAR Score™ Calculation
Category Overview
There are 997 funds in the US Equity category, with an average ALTAR Score™
of 5.6% and a standard deviation of
2.4%. CHGX's ALTAR Score™ is approximately
0.2 standard deviations
below
the category average. This places CHGX in the 41st percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
CHGXSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Rules-Based US Equity ETFs |
| # of ETFs | 627 |
| Avg. Expense Ratio | 46.1 bp |
| Std. Deviation | 32.8 bp |
| CHGX (49 bp) Percentile rank | 54 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| CHGX | 49.0 | 9.4 | 58.4 |
| Peer Avg. | 46.1 | 15.6 | 61.7 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .