Aztlan Global Stock Selection DM SMID ETF

Aztlan Global Stock Selection DM SMID ETF (AZTD) is an index fund. It holds about 50 small and mid-sized companies from developed markets in North America, Western Europe and Asia, chosen by a six-factor stock-scoring screen. The stocks get equal weights and are reshuffled every quarter, and the prospectus reports portfolio turnover of 316%. The fund charges 0.75% a year. As of July 31, 2026, about 48% of its assets were in US stocks and 19% in Japanese stocks.

• Over the year to Oct 27, 2026, AZTD returned +11.5%.
• Its worst full calendar year was 2024 (+6.9%); its best was 2025 (+25.5%).
• The deepest fall in its price history was 16.8% (Dec 4, 2024 to Apr 8, 2025), recovered by May 12, 2025.

As of Jul 31, 2026, the fund held 49 securities; the ten largest made up 25.91% of assets.

• Over the three months to Jul 31, 2026, investors withdrew a net $6.4M (creations minus redemptions, per the N-PORT report).
• Monthly total returns reported for that quarter: +1.27%, +2.52%, -2.71%.

AZTD tracks the Solactive Aztlan Global Developed Markets SMID Cap Index. Aztlan Equity Management designed the index rules, and Solactive AG owns and calculates the index. "SMID" means small and mid-sized companies, here those worth between $500 million and $15 billion. Eligible stocks come from the US, Canada, 15 Western European countries, Australia, Japan and New Zealand. Hong Kong and Singapore are excluded. Each stock must trade at least $5 million a day on average. Ten sectors are allowed, but pharmaceutical companies are left out of health care.

Each September 30, the index scores this universe over the past 12 months on six equally weighted factors: value (earnings compared with share price), cash flow (dividends and free cash flow yield), return on equity, earnings growth, changes in analysts' earnings estimates, and price momentum. The 70 top scorers make a shortlist. Each quarter, the index re-ranks that shortlist and the top 50 go in at equal weights. Weights then drift with prices until the next rebalance.

The fund generally buys every stock in the index but may hold a representative sample. Because holdings change often, turnover was 316%. That raises trading costs and can produce taxable gains. As of July 31, 2026, the fund held 49 issuers, used no derivatives and kept 0.83% in cash.

• AZTD charges 0.75% a year.
• Using the prospectus's standard example, $10,000 invested would cost about $77 in the first year and $930 over 10 years (assuming a 5% annual return).

It is a concentrated, high-turnover basket of about 50 smaller companies with a short track record, so it fits as a small add-on rather than a foundation.

AZTD could add smaller developed-market companies to a portfolio, with about half its assets outside the US as of July 31, 2026. Its record is short. It launched on August 17, 2022, so it has no history through the 2008 crisis, the 2020 COVID crash or the 2022 bear market. Its weakest calendar year was 2024, with a 6.95% gain according to the prospectus. Its deepest drop was 16.8%, from December 4, 2024, to April 8, 2025, and it was back at its old high by May 12, 2025. That is a mild test. Small-company stocks have historically fallen much further in severe crises, so someone forced to sell in a bad year could face a bigger loss. Income is small: the yield was 0.95% as of October 27, 2026, paid once a year. In the SEC's standard example, $10,000 invested costs $77 in fees in the first year. Past results don't predict future returns, and a plan should look at the whole portfolio, not one fund.

Matched by holdings overlap from the latest N-PORT reports.

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