Ocean Park Domestic ETF

Ocean Park Domestic ETF (DUKQ) is an actively managed fund of funds: it holds other US stock ETFs and aims for total return while limiting losses. Unlike buffer funds, which use options to cushion losses, it follows price trends, dropping ETFs as they turn down and at times moving into cash equivalents such as Treasury bills. It is small ($13.7 million as of June 30, 2026) and charges a relatively high 0.99% a year.

• Over the year to Oct 27, 2026, DUKQ returned +12.5%, 3rd of 8 among similar funds.
• Its worst full calendar year was 2025 (+5.7%); its best was 2025 (+5.7%).
• The deepest fall in its price history was 18.4% (Dec 4, 2024 to Apr 7, 2025), recovered by Oct 24, 2025.

As of Jun 30, 2026, the fund held 12 securities; the ten largest made up 94.5% of assets.

• Over the three months to Jun 30, 2026, investors withdrew a net $66K (creations minus redemptions, per the N-PORT report).
• Monthly total returns reported for that quarter: +9.24%, +5.53%, +1.53%.

DUKQ does not track an index. Its adviser, Ocean Park Asset Management, chooses among US stock ETFs from other fund companies, with no limit on their number or type. They can be passive or active and focus on any company size, style, sector or industry. As of June 30, 2026, it held 12 funds, led by a Schwab US large-cap ETF (24.0%), an Invesco Nasdaq 100 ETF (19.7%), the Schwab US Mid Cap ETF (10.3%) and two Invesco S&P 500 funds (9.9% and 5.4%).

Trades follow trend signals meant to limit losses. For each ETF, the adviser sets an upper and a lower band around a short-term exponential moving average, a recent-price average weighted toward the latest days. An entry signal comes when the price rises above both the recent low of the upper band and a second moving average. An exit signal comes when it falls below the recent high of the lower band. Proceeds may go into another ETF or, for a time, into cash equivalents such as Treasury bills, and the fund can sit partly or fully in them.

Trading is frequent. Turnover was 129%, roughly like replacing the whole portfolio more than once a year, which can add costs. Because the rules react after prices move, the fund can fall before an exit signal arrives.

• DUKQ charges 0.99% a year, versus an average of 0.86% for the similar funds below (8th of 8, cheapest first).
• Of that, 0.75% is the management fee; the rest covers other fund expenses.
• The fee includes a 1.07% waiver from the adviser, which may end.
• Using the prospectus's standard example, $10,000 invested would cost about $101 in the first year and $2,304 over 10 years (assuming a 5% annual return).

It's a small, high-cost tactical stock fund whose loss-limiting system has a record dating only to July 2024, so it may fit better as a smaller position than as a core holding.

DUKQ could add a rules-based attempt to sidestep part of a stock-market decline. Its record is short: it launched in July 2024, so it has no history through the 2008 crisis, the 2020 COVID crash or the 2022 bear market. Its only full calendar year, 2025, returned 5.56%, versus 17.35% for the Morningstar US Market index. Its deepest drop was 18.4%, from December 4, 2024 to April 7, 2025, and it took about 6.6 months to recover. Someone who had to cash out near that low would have locked in a loss despite the fund's loss-limiting goal.

Income is minimal: the yield was 0.29% as of October 27, 2026, paid twice a year. Its 0.99% expense ratio is above the 0.86% average of seven buffer funds it was compared with. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.

Matched by other buffer (defined-outcome) funds, largest first.