GFOF

Grayscale Future of Finance ETF

GFOF is passively managed to track a market cap-weighted index of global stocks identified as shaping the Future of Finance.


Global

EQUITY

Rules-Based

MANAGEMENT STYLE

70 bp

EXPENSES

$8.2 M

ASSETS UNDER MGMT

FACTOR SCORECARD

SIZE
VALUE
YIELD
MOMENTUM
VOLATILITY
QUALITY
Fund Basics
Fund sponsorDigital Currency Group, Inc.
CategoryGlobal
Asset classEquity
Websitelink...
Inception dateFeb 01, 2022
Assets (mns)$8
Expense ratio70 bp
CurrencyUSD
Sector Breakdown
Fund Structure
RegulationOpen-Ended Fund
Distributions
Taxation1099
Stock selectionMulti-Factor
WeightingMarket Cap
Holdings TransparencyFull
Derivatives-basedNo
Options availableYes
Currency hedgedNo
Fund of fundsNo
Top 10 Holdings Complete list  + 
IRIS ENERGY LTD. 10.1 %
ROBINHOOD MARKETS, INC. CLASS A 8.7 %
COINBASE GLOBAL, INC. CLASS A 7.1 %
MARATHON DIGITAL HOLDINGS INC 7.1 %
PAYPAL HOLDINGS INC 6.8 %
TERAWULF INC. 5.7 %
BLOCK INC. 5.4 %
HUT 8 MINING CORP. 5.3 %
BITFARMS LTD. 4.5 %
PLUS500 LTD. 4.4 %
Constituent Breakdown
Number of holdings21
Herfindahl-Hirschman Index 560
Wgt avg mkt cap (mns)$14,207
Large cap (>$10bn)31.8%
Mid cap ($2-10bn)18.0%
Small cap (<$2bn)50.2%
Developed mkts.95.1%
Emerging mkts.4.9%
Country Exposure
UNITED STATES 62.2 %
AUSTRALIA 10.1 %
CANADA 9.8 %
ISRAEL 4.4 %
CHINA 3.8 %
GERMANY 2.9 %
JAPAN 2.7 %
Historical Performance


Standardized Performance (as of 05/31/2024)
 YTD1 YR2 YR3 YR5 YR10 YRIncep.
Total Returns -12.2% 43.6% 4.5% -- -- -- -17.0%
Volatility 58.5% 57.7% 61.4% -- -- -- --
Market Correlations
versus...BetaR-squared
S&P 5002.6649%
MSCI EAFE2.3537%
MSCI Emg Mkts1.8223%
Liquidity Measures
Avg. volume (000)3
Turnover0.8%
Avg. Bid/Ask (% of price)1.00%
ADV of underlying (mns)$6,336
Technical Indicators
Recent close$20.49
30d moving avg.$17.00
Annualized volatility73.1%
Relative strength (RSI)61
Short interest (ETF)1.4%
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: GFOF vs. Comps (1 YR)

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Results & Estimates
  2019 2020 2021 2022 2023 2024E 2025E  
Sales per share -- -- -- -- -- -- --
  change (%) -- -- -- -- -- -- --
Earnings per share -- -- -- -- -- -- --
  change (%) -- -- -- -- -- -- --
Dividends per share -- -- -- -- -- -- --
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Book value per share -- -- -- -- -- -- --
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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 --%
2.5 46.9 2.4 0.5% --
Based on closing prices from 6/20/2024
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SHOWING:
Price-to-Earnings
GFOF



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™

GFOF

-0.6%

Cat. Avg

3.8%

Fund Category: Global

Avg. Return on Equity--%
Divided by: Fwd. P/BV--x
Less: Expenses-- bp
Equals: ALTAR Score™-0.6%
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 344 funds in the Global category, with an average ALTAR Score™ of 3.8% and a standard deviation of 4.8%. GFOF's ALTAR Score™ is approximately 0.9 standard deviations below the category average. This places GFOF in the 18th percentile among funds in the category.
Consensus Recommendation

Sell-side recommendations on the ETF's individual constituents

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



Recent Trends


Breakdown

 

Market Activity
Latest price
Change
Volume
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Total Cost of Ownership (TCO) Comparison
Expense (bp)
(A)
Avg. Bid/Ask (bp)
(B)
TCO (bp)
(A)+(B)
GFOF 70.0 99.6 169.6
Peer Avg. -- -- --
  For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .