FFND

Future Fund Active ETF

FFND seeks long-term capital growth from an actively managed fund of US-listed stocks that benefit from emerging secular trends driven by technological, social and environmental changes.


US

EQUITY

Active

MANAGEMENT STYLE

100 bp

EXPENSES

$7.9 M

ASSETS UNDER MGMT

FACTOR SCORECARD

SIZE
VALUE
YIELD
MOMENTUM
VOLATILITY
QUALITY
Fund Basics
Fund sponsorFuture Fund Advisors
CategoryUS
Asset classEquity
Websitelink...
Inception dateAug 24, 2021
Assets (mns)$8
Expense ratio100 bp
CurrencyUSD
Sector Breakdown
Fund Structure
RegulationOpen-Ended Fund
DistributionsQuarterly
Taxation1099
Stock selectionProprietary
WeightingProprietary
Holdings TransparencyFull
Derivatives-basedNo
Options availableNo
Currency hedgedNo
Fund of fundsNo
Top 10 Holdings
ALPHABET INC. CLASS A 8.9 %
NVIDIA CORP 7.8 %
ELI LILLY & CO 5.3 %
ASML HOLDING NV-NY REG SHS 4.0 %
HALOZYME THERAPEUTICS INC 3.9 %
SALESFORCE.COM INC 3.7 %
CHIPOTLE MEXICAN GRILL-CL A 3.6 %
UBER TECHNOLOGIES, INC. 3.4 %
NETFLIX INC 3.2 %
AIRBNB, INC. CLASS A 3.1 %
Constituent Breakdown
Number of holdings36
Herfindahl-Hirschman Index 376
Wgt avg mkt cap (mns)$376,114
Large cap (>$10bn)77.6%
Mid cap ($2-10bn)20.2%
Small cap (<$2bn)2.2%
Developed mkts.98.7%
Emerging mkts.1.3%
Country Exposure
UNITED STATES 89.0 %
NETHERLANDS 5.7 %
BRITAIN 2.3 %
SWITZERLAND 2.2 %
BRAZIL 1.4 %
Historical Performance


Standardized Performance (as of 06/30/2024)
 YTD1 YR2 YR3 YR5 YR10 YRIncep.
Total Returns 11.2% 19.3% 19.9% -- -- -- -2.6%
Volatility 16.4% 17.8% 25.5% -- -- -- --
Market Correlations
versus...BetaR-squared
S&P 5001.4079%
MSCI EAFE1.1854%
MSCI Emg Mkts0.9132%
Liquidity Measures
Avg. volume (000)5
Turnover1.5%
Avg. Bid/Ask (% of price)0.22%
ADV of underlying (mns)$97,387
Technical Indicators
Recent close$23.37
30d moving avg.$23.00
Annualized volatility29.6%
Relative strength (RSI)60
Short interest (ETF)0.1%
Short interest (underlying)0.0%
Distributions
Assets Under Management (mns)

Money Flows (mns)

Short Interest (as % of shares outstanding)

Long Money Flows (mns)

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Risk and Returns: FFND 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
  2019 2020 2021 2022 2023 2024E 2025E  
Sales per share -- -- -- -- -- -- --
  change (%) -- -- -- -- -- -- --
Earnings per share -- -- -- -- -- -- --
  change (%) -- -- -- -- -- -- --
Dividends per share -- -- -- -- -- -- --
  change (%) -- -- -- -- -- -- --
Book value per share -- -- -- -- -- -- --
  change (%) -- -- -- -- -- -- --
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates

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Valuation Metrics
  2023 2024E Fwd Est 2025E
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 --%
2.8 37.8 4.0 0.3% --
Based on closing prices from 7/19/2024
Historical Valuation Trends Sample data. Subscribe for access.

SHOWING:
Price-to-Earnings
FFND



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 Fund Rating

Our measure of an ETF's overall investment merit

ALTAR Score™

FFND

-0.2%

Cat. Avg

5.7%

Fund Category: US

Avg. Return on Equity--%
Divided by: Fwd. P/BV--x
Less: Expenses-- bp
Equals: ALTAR Score™-0.2%
Recommendation

AVOID

Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may be less relevant.

Category Overview
There are 899 funds in the US category, with an average ALTAR Score™ of 5.7% and a standard deviation of 2.5%. FFND's ALTAR Score™ is approximately 2.4 standard deviations below the category average. This places FFND in the 1st percentile among funds in the category.
Consensus Recommendation

Sell-side recommendations on the ETF's individual constituents

Composite
FFND
Peer Average
SELL
U/W
HOLD
O/W
BUY



Recent Trends


Breakdown
Expense Analysis

Peer Group Active
US Equity ETFs
# of ETFs 308
Avg. Expense Ratio 67.1 bp
Std. Deviation 37 bp
FFND (100 bp) Percentile rank 81
Peer Group Expense Ratio Distribution


Total Cost of Ownership (TCO) Comparison
Expense (bp)
(A)
Avg. Bid/Ask (bp)
(B)
TCO (bp)
(A)+(B)
FFND 100.0 22.3 122.3
Peer Avg. 69.7 23.8 93.5
  For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .