Abacus FCF Real Assets Leaders ETF

Abacus FCF Real Assets Leaders ETF (ABLD) tracks an index of up to 50 U.S.-listed real-assets companies, such as pipeline partnerships, oil producers, miners, REITs and infrastructure firms. Each one is picked for strong free cash flow returns and a high dividend yield. Its 0.39% expense ratio, which reflects a fee waiver, is below the 0.85% average of the funds whose holdings overlap most with it. At $92.8 million in net assets as of July 31, 2026, it is also much smaller than those funds.

• Over the year to Oct 27, 2026, ABLD returned +11.9%, 6th of 7 among similar funds.
• Its worst full calendar year was 2025 (+6.6%); its best was 2025 (+6.6%).
• The deepest fall in its price history was 17.2% (Jan 21, 2025 to Apr 8, 2025), recovered by Sep 11, 2025.

As of Jul 31, 2026, the fund held 48 securities; the ten largest made up 35.66% of assets. It also reported 11.52% in a money-market fund, most likely cash collateral from lending out shares rather than uninvested money.

• Over the three months to Jul 31, 2026, investors added a net $10.8M (creations minus redemptions, per the N-PORT report).
• Monthly total returns reported for that quarter: -3.50%, -2.96%, +2.88%.

ABLD is an index fund. It puts at least 80% of its assets into the Abacus FCF Real Assets Leaders Index. Abacus FCF Indexes LLC runs the index, and it is an affiliate of the fund's adviser, Abacus FCF Advisors LLC. The index draws from a "Real Assets Industry Group": real estate, infrastructure, commodities, natural resources and utilities. Common stocks, REITs, master limited partnerships (MLPs, publicly traded partnerships mostly in energy) and ADRs (U.S.-listed shares of foreign companies) all qualify. Each company must be U.S.-listed and trade actively. It must have reported positive free cash flow over the past 12 months and must not be a merger target.

The adviser's own model scores each company on free cash flow return on invested capital. That measures how much spare cash a business produces compared with the money put into it. The model looks at capital spending, accruals, cash flow margins and asset turnover. It then combines the score with dividend yield, adjusts for the past 12 months of price swings and blends the result with market value. Companies are added until they make up 90% of the total weight or the count reaches 50.

The index rebalances every quarter, and the index caps turnover at 25%. Even so, the fund reported 101% portfolio turnover in its prospectus. The fund may use futures, but it held none as of July 31, 2026.

• ABLD charges 0.39% a year, versus an average of 0.85% for the similar funds below (2nd of 7, cheapest first).
• Of that, 0.59% is the management fee; the rest covers other fund expenses.
• The fee includes a 0.2% waiver from the adviser, which may end.
• Using the prospectus's standard example, $10,000 invested would cost about $40 in the first year and $719 over 10 years (assuming a 5% annual return).

It adds a focused group of real-assets businesses that a broad stock index holds only in small amounts, and its one-year beta (how much it moves with the market) was 0.72 as of October 27, 2026.

ABLD's track record is short. The fund launched in December 2021, so it has no record from the 2008 or 2020 crashes. In 2022 it returned 7.53%, according to its prospectus, though it lost 13.08% in that year's second quarter. Every full calendar year so far has been positive. The weakest was 2025, at 6.64%. Its deepest drop in the available price history was 17.2%, from January 21 to April 8, 2025. It recovered by September 11, about five months later. Anyone forced to sell during that stretch would have locked in a loss. The trailing yield was 2.51% as of October 27, 2026. It pays only twice a year, so the income comes in uneven amounts. Annual costs are 0.39%. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.

Matched by closest holdings overlap from the latest N-PORT reports (no similar fund shares 20% or more of its holdings).