XXSP – Subversive S&P 500 Redacted ETF – ETF Investment Strategy | Morningstar

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Strategy

The investment seeks capital appreciation. The fund will invest at least 80% of the value of its net assets, plus the amount of any borrowings for investment purposes, in a portfolio consisting of exposure to the equity securities of the companies included in the S&P 500 Index, other than the equity securities of the Excluded Enterprises (defined below). The S&P 500 Index includes approximately 500 of the largest U.S. companies listed on U.S. stock exchanges based on market capitalization. It is non-diversified.

Ticker	Name	Share Class Type	Investment Status	Morningstar Rating for Funds Overall	Medalist Rating Overall	Inception Date	Total Net Assets for Share Class	Adjusted Expense Ratio	Fee Level Distribution	Minimum Initial Investment	1-Year Net Flow
XXSP	Subversive S&P 500 Redacted ETF	ETF	Open	—	—	Oct 8, 2026	$2.46M	0.300%	—	—	—

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