Beehive ETF

Beehive ETF (BEEX) is an actively managed fund. It does not track an index. Instead, sub-adviser Cannell & Spears picks a focused portfolio of 30 to 50 mostly large US companies, and it held 38 stocks as of June 30, 2026. Its 0.84% expense ratio is the highest among the similar funds compared here, which average 0.50%. Owning it is mainly a bet on the managers' stock picking.

• Over the year to Oct 27, 2026, BEEX returned +6.7%, 6th of 9 among similar funds.
• Its worst full calendar year was 2025 (+14.5%); its best was 2025 (+14.5%).
• The deepest fall in its price history was 15.1% (Jan 28, 2025 to Apr 8, 2025), recovered by Jun 10, 2025.

As of Jun 30, 2026, the fund held 38 securities; the ten largest made up 42.91% of assets, and 3.33% sat in cash and money-market holdings.

By sector

• Over the three months to Jun 30, 2026, investors added a net $1.4M (creations minus redemptions, per the N-PORT report).
• Monthly total returns reported for that quarter: +8.81%, +3.90%, -3.55%.

BEEX does not follow an index. Its sub-adviser, Cannell & Spears LLC, picks stocks one company at a time and puts security selection ahead of asset allocation. The fund invests mainly in US companies worth more than $80 billion (large) or between $9 billion and $80 billion (mid-sized). It may also own smaller companies and foreign stocks. That includes American Depositary Receipts, which are US-traded certificates that stand for shares of a foreign company. It may also hold US bonds, including high-yield "junk" bonds. As of June 30, 2026, it held only stocks plus 3.3% in cash.

The managers do their own research. They study company filings and talk with management and industry analysts. They look for well-established companies with leading market positions that they think can defend those positions. They also want more upside than downside over the next three years. Chart-based signals, such as moving averages and trading volume, help them decide when to trade. They sell a holding when the original reason for owning it no longer holds, when its price passes a target, or when they find something better. Portfolio turnover was 31%.

No formula sets how much of each stock the fund holds, and there is no fixed rebalancing schedule. Position sizes are the managers' call. The fund can put more than 25% of its assets in one sector. Over 25% was in information technology as of December 31, 2025. The top ten holdings made up 42.9% of assets as of June 30, 2026.

• BEEX charges 0.84% a year, versus an average of 0.5% for the similar funds below (9th of 9, cheapest first).
• Using the prospectus's standard example, $10,000 invested would cost about $86 in the first year and $1,037 over 10 years (assuming a 5% annual return).

It is a high-cost, concentrated portfolio of about 38 stocks that depends on the managers' picks, so it fits better next to a broad index core than in its place.

BEEX could add a concentrated, hand-picked slice of established large companies to a portfolio built on broad index funds. Its prospectus record includes years before the ETF launched in December 2024. In that record, the fund lost 10.98% in 2018 and 19.02% in 2022, its worst calendar year. It also fell 19.35% in the first quarter of 2020. Since the ETF began trading, its deepest drop was 15.1%, from January 28 to April 8, 2025. It recovered by June 10, 2025. Anyone who has to sell shares during a slide like 2022 would lock in losses. It pays little income: the trailing yield was 0.33% as of October 27, 2026, paid once a year. Under the SEC's standard example, the 0.84% expense ratio costs about $86 on $10,000 in the first year and $1,037 over ten years. Past results don't predict future ones, and a plan should look at the whole portfolio, not one fund.

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