Even Herd Long Short ETF
Key Statistics
Historical Performance
Total return including reinvested distributions, from adjusted closing prices.
Price History
Price history is being compiled for this fund.
Top Holdings
Top 25 holdings as of Mar 31, 2026 · source: SEC N-PORT. Full holdings & prospectus →
About EHLS
TheFund, an actively-managed exchange-traded fund (“ETF”), seeks to achieve its investment objective by taking both longand short positions in equity securities. EvenHerd, LLC, the Fund’s sub-adviser (the “Sub-Adviser”), employs its proprietary algorithm to manage the Fund’sportfolio, seeking to maintain a consistent 100% long exposure to equity securities. In addition, the Fund’s short exposurewill vary between 10% to 90%. Consequently, the Fund’s net equity exposure—defined as the value of the Fund’slong positions minus its short positions— will generally range from 10% to 90% net long. This range is subject to adjustmentby the Sub-Adviser based on prevailing market conditions. TheSub-Adviser follows a proprietary system most comparable to a relative momentum-focused investment strategy. Momentum is definedas an upward (positive) or downward (negative) price movement of a security (or an asset class), generating positive or negativeinvestment returns, over the course of a predefined observation period. With respect to the Sub-Adviser’s investment strategy,this involves taking long positions in equity securities exhibiting strong upward momentum and short positions in those showingdownward momentum. The Sub-Adviser’s proprietary algorithm, which emphasizes a dynamic, trend-focused analysis, rather thana strictly bottom-up valuation analysis, is used to select both the long and short positions. The proprietary system is drivenby price movements, along with other data points. The key elements of this strategy include: ● Use of the proprietary algorithm for ongoing monitoring and to analyze market trends and stock momentum, prioritizing equity securities that show strong upward momentum for long positions, and identifying those with downward momentum for short positions. ● The proprietary algorithm’s frequent reassessment of equity securities rankings based on their price movement, to seek to align the Fund’s portfolio with current market momentum. ● Inclusion and exclusion of stocks based on their momentum ranking rather than traditional fundamental analysis. The proprietary algorithm evaluates companies’ current and historical stock price movements, which allows the Sub-Adviser to realign the Fund’s portfolio as market conditions change. ● Through a dynamic sector allocation process, the Sub-Adviser seeks to overweight the Fund’s portfolio exposure to leading economic sectors and underweight exposure to lagging sectors. Dynamic sector allocation involves adjusting portfolio allocations among different sectors based on the Sub-Adviser’s proprietary system. ● Employment of various statistical clustering methodologies by the Sub-Adviser to better align the Fund’s long and short position behaviors. Clustering serves as a tool to help the Sub-Adviser better understand the Fund’s exposures through various factors such as sector or industry composition or price movements which may not be apparent from traditional diversification methods.TheSub-Adviser may at its sole discretion make adjustments and changes to its allocation and clustering methodologies and proprietarysystem, including the underlying algorithm. The system is intended to be optimized and refined perpetually, especially as moredata becomes available with time. Longpositions: The Fund’s long portfolio predominantly includes stocks that, according to the Sub-Adviser’s analysis,have demonstrated strong upward momentum. For long holdings, the Fund intends to invest in companies with market capitalizationsabove $500 million. The Fund will primarily invest in U.S.-listed equity securities. The Fund may also invest in foreign companies,primarily through U.S. exchange-traded American Depositary Receipts (“ADRs”). Shortpositions: Conversely, the Fund’s short portfolio focuses on stocks that, according to the Sub-Adviser’s analysis,have exhibited downward momentum. For short holdings, the Fund intends to short companies with market capitalizations above $250million. The Fund may enter into swap agreements as a substitute for directly shorting a particular company’s equity securities. TheFund’s short sales introduce leverage, potentially amplifying changes in the Fund’s net asset value. The Fund’sshort positions will generally not be covered, meaning the Fund does not currently own the underlying securities it has sold short.Fluctuations in the Fund’s exposure levels may occur due to capital flows. The cash collateral received may be investedin accordance with the Fund’s primary investment strategy. PortfolioConstruction: Thespecific number of securities in the Fund’s portfolio will fluctuate and under normal circumstance can be expected to rangefrom approximately 75 to 300 long positions, and 50 to 200 short positions, although these ranges may vary upward or downwardat the Sub-Adviser’s discretion. The Fund’s strategy should prevent any single position from exceeding 5% of the Fund’sportfolio at the time of purchase. TheFund will invest, under normal circumstances, at least 80% of its net assets plus the amount of borrowings for investment purposes,in long and short equity securities. Asof June 30, 2025, the Fund’s portfolio had significant exposure to the aerospace, defense and banking industries.. The Fund’sexposure to one or more industries is subject to change over time. Dueto its strategy, the Fund could experience a high portfolio turnover rate.
EHLS News
- Understanding Momentum Shifts in (EHLS)
- Avoiding Lag: Real-Time Signals in (EHLS) Movement
- Discipline and Rules-Based Execution in EHLS Response
- Even Herd Long Short ETF (NASDAQ:EHLS) Short Interest Up ∞ in June
- Discipline and Rules-Based Execution in EHLS Response
- Behavioral Patterns of EHLS and Institutional Flows
- (EHLS) Movement Within Algorithmic Entry Frameworks
Data for EHLS is aggregated from third-party providers (Tiingo, Nasdaq, Finnhub) and SEC filings, may be delayed at least 20 minutes, and may be incomplete or contain errors. Nothing here is investment advice. Verify with the official prospectus before investing.