DFNV
Donoghue Forlines Innovation ETF
DFNV tracks an index that seeks to provide risk-managed exposure to US all-cap companies with strong free cash flow and R&D investments.
US
EQUITY
Rules-Based
MANAGEMENT STYLE
$ 52.2 M
ASSETS UNDER MGMT
69 bp
EXPENSES
Fund Basics
| Inception date | Dec 08, 2020 |
| Regulation | Open-Ended Fund |
| Fund Website | link... |
| Distributions | Annually |
| Currency | USD |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| APPLE INC | 9.4 % |
| BROADCOM INC. | 4.5 % |
| SALESFORCE.COM INC | 2.7 % |
| JOHNSON & JOHNSON | 2.7 % |
| ABBVIE INC | 2.6 % |
| SERVICENOW INC | 2.6 % |
| ADOBE SYSTEMS INC | 2.5 % |
| MERCK & CO. INC. | 2.4 % |
| INTL BUSINESS MACHINES CORP | 2.2 % |
| PALANTIR TECHNOLOGIES INC. CLASS A | 2.1 % |
Constituent Breakdown
| Number of holdings | 102 |
| Herfindahl-Hirschman Index | 230 |
| Wgt avg mkt cap (mns) | $556,391 |
| Large cap (>$10bn) | 84.2% |
| Mid cap ($2-10bn) | 12.9% |
| Small cap (<$2bn) | 1.2% |
| Developed mkts. | 99.4% |
| Emerging mkts. | 0.0% |
Sector Breakdown
Country Exposure
 |
UNITED STATES | 95.7 % |
 |
LUXEMBOURG | 1.6 % |
 |
AUSTRALIA | 1.2 % |
Historical Performance
Standardized Performance (as of 12/31/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 3.6% | 3.6% | 18.6% | 21.0% | 8.5% | -- | -- | 9.0% |
| Dividend Yield | 0.0% | 0.0% | 0.0% | 0.3% | 1.4% | -- | -- | 1.4% |
| Total Returns | 3.6% | 3.6% | 18.6% | 21.3% | 10.0% | -- | -- | 10.5% | Ann. Volatility | 271.5% | 271.5% | 34.6% | 26.1% | 24.4% | -- | -- | 24.2% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 10.00 | 43% |
| MSCI EAFE | 10.00 | 79% |
| MSCI Emg Mkts | 6.45 | 4% |
Liquidity Measures
| Avg. volume (000) | 0 |
| ADV traded (mns) | $0 |
| Turnover | 0.0% |
| Avg. Bid/Ask (% of price) | 0.20% |
Technical Indicators
| 30d moving avg. (EMA) | $36.77 |
| Relative strength (RSI) | 58 |
| MACD/Signal | 0.53/0.51 |
| Bollinger Bands (Upper/Lower) | $40.78/$33.96 |
| Short interest (% of AUM) | 0.0% |
Distributions
Top Ten Comparable ETFs only shown here. For an extended list become an Individual or Professional subscriber. Start your FREE trial
Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. DFNV |
Expenses vs. DFNV |
ALTAR Score™ vs. DFNV |
|---|---|---|---|---|
| TTAC | FCF US Quality ETF | 50.9% | -10 bp | +1.4% |
| ABOT | Abacus FCF Innovation Leaders ETF | 49.8% | 0 bp | -0.1% |
| DRUP | GraniteShares Nasdaq Select Disruptors ETF | 33.2% | -9 bp | -0.8% |
| USRD | Themes US R&D Champions ETF | 32.8% | -40 bp | -0.7% |
| AGIX | KraneShares Artificial Intelligence and Technology ETF | 32.5% | +30 bp | -3.4% |
| MFIG | Motley Fool Innovative Growth Factor ETF | 32.4% | -19 bp | -1.6% |
| LCOW | Pacer S&P 500 Quality FCF Aristocrats ETF | 31.2% | -20 bp | +0.8% |
| XLK | Technology Select Sector SPDR | 30.4% | -61 bp | -1.3% |
| RSPT | Invesco S&P 500 Equal Weight Technology ETF | 30.0% | -29 bp | -0.8% |
| QQEW | First Trust Nasdaq-100 Equal Weighted Index Fund | 29.5% | -11 bp | -1.1% |
Risk and Returns: DFNV 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 (USD)
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | ||
|---|---|---|---|---|---|---|---|---|---|
| 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 | 2025 | 2026 | 2027 | |
| 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 5/17/2026
Peer Group Comparison
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Historical Valuation Trends Sample data. Subscribe for access.
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
5.2%
ALTAR SCORE™
46th
PERCENTILE
NEUTRAL
ETFRC RATING
There are 1,207 funds in the US Equity category with an average
ALTAR Score™ of 5.4% and a standard deviation
of 2.1%. DFNV's ALTAR Score™ is approximately -0.1 standard
deviations above the category average. This places DFNV in the 46th percentile
among funds in the category.
Sell-Side Consensus
$44.41
PRICE TARGET
+25.9%
UPSIDE