SANE

Subversive Mental Health ETF

SANE actively invests in mental health companies around the world, selected based on quantitative and qualitative factors.


Active, Concentrated

MANAGEMENT MATRIX

AGNG

CLOSEST COMP

FACTOR SCORECARD

SIZE
VALUE
YIELD
MOMENTUM
VOLATILITY
QUALITY
Fund Basics
Fund sponsorSubversive Capital Advisor LLC
CategoryGlobal Equities
Asset classEquity
Websitelink...
Inception dateDec 23, 2022
Assets (mns)$1
Expense ratio75 bp
CurrencyUSD
Sector Breakdown
Fund Structure
RegulationOpen-Ended Fund
DistributionsAnnually
Taxation1099
Stock selectionProprietary
WeightingProprietary
Holdings TransparencyFull
Derivatives-basedNo
Options availableNo
Currency hedgedNo
Fund of fundsNo
Top 10 Holdings Complete list  + 
DEXCOM INC 7.6 %
WEST PHARMACEUTICAL SERVICES 6.5 %
ASICS CORP 6.0 %
ADIDAS AG 5.3 %
APPLIED THERAPEUTICS, INC. 4.6 %
DAVITA INC 4.4 %
UNITED THERAPEUTICS CORP 4.3 %
APPLE INC 4.1 %
CYMABAY THERAPEUTICS, INC. 3.9 %
DANAHER CORP 3.8 %
Constituent Breakdown
Number of holdings3
Herfindahl-Hirschman Index 430
Wgt avg mkt cap (mns)$186,410
Large cap (>$10bn)60.5%
Mid cap ($2-10bn)23.8%
Small cap (<$2bn)15.7%
Developed mkts.100.0%
Emerging mkts.0.0%
Country Exposure
UNITED STATES 67.6 %
JAPAN 11.1 %
GERMANY 8.6 %
DENMARK 2.8 %
BRITAIN 2.4 %
SWITZERLAND 1.6 %
Historical Performance


Standardized Annual Returns (as of 02/29/2024)
YTD1 YR2 YR3 YR5 YR10 YRIncep.
0.0% -- -- -- -- -- -3.4%
Market Correlations
versus...BetaR-squared
S&P 5000.000%
MSCI EAFE0.000%
MSCI Emg Mkts0.000%
Liquidity Measures
Avg. volume (000)0
Turnover0.0%
Avg. Bid/Ask (% of price)0.47%
ADV of underlying (mns)$18,312
Technical Indicators
Recent close$24.12
30d moving avg.$22.52
Annualized volatility0.0%
Relative strength (RSI)60
Short interest (ETF)0.0%
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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Comparable ETFs Based on Overlap
Ticker Fund Name Overlap
vs. SANE
Expenses
vs. SANE
ALTAR Score™
vs. SANE
AGNG Global X Aging Population ETF   11.6%   -25 bp +4.0%
RSPH Invesco S&P 500 Equal Weight Health Care ETF   11.1%   -35 bp +6.7%
Risk and Returns: SANE 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 --%
2.9 73.1 4.4 0.8% --
Based on closing prices from 3/27/2024
Historical Valuation Trends Sample data. Subscribe for access.

SHOWING:
Price-to-Earnings
SANE



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™

SANE

-0.2%

Cat. Avg

3.6%

Fund Category: Global Equities

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

UNDERWEIGHT

Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

Category Overview
There are 340 funds in the Global Equities category, with an average ALTAR Score™ of 3.6% and a standard deviation of 4.7%. SANE's ALTAR Score™ is approximately 0.8 standard deviations below the category average. This places SANE in the 21st percentile among funds in the category.
Consensus Recommendation

Sell-side recommendations on the ETF's individual constituents

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



Recent Trends


Breakdown

 

Market Activity
Latest price
Change
Volume
Bid/Ask Spread
Update
Today's Trading

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Total Cost of Ownership (TCO) Comparison
Expense (bp)
(A)
Avg. Bid/Ask (bp)
(B)
TCO (bp)
(A)+(B)
SANE 75.0 46.8 121.8
Peer Avg. -- -- --
  For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .
Fundamental data for individual fund constituents sourced from FactSet Research Systems.