At a glance
FTWO charges 0.49% a year. It has $73.1M in assets; it paid 0.94% of its price in distributions over the past 12 months, quarterly. Over the past year it returned +12.8% with distributions reinvested (S&P 500: +11.5%); over three years it returned +25.5% a year. Its ten largest positions make up 54.9% of the fund, out of 51 in all.
The short version
Strive Natural Resources and Security ETF (FTWO) is an index fund that tracks the Bloomberg Natural Resources & Security Total Return Index. The index holds about 50 U.S. and Canadian companies in fuel, aerospace and defense, agriculture, nuclear energy, and gold and metals mining. What sets it apart is that each of the five themes is reset to an equal 20% share every quarter. That puts farm-equipment maker Deere and uranium miner Cameco beside Exxon Mobil. It costs 0.49% a year.
Price history
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FTWO +12.8% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| FTWO official prospectus, to Dec 31, 2025 | — | +42.08% | — | — | — | +24.10% |
| FTWO price data to Oct 27, 2026 | +10.4% | +12.8% | +25.5% | — | — | +21.4% |
- Over the year to Oct 27, 2026, FTWO returned +12.8%.
- Its worst full calendar year was 2024 (+14.9%); its best was 2025 (+43.1%).
- The deepest fall in its price history was 18.2% (Jan 23, 2025 to Apr 8, 2025), recovered by May 13, 2025.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +10.4% | — |
| 2025 | +43.1% | +42.08% |
| 2024 | +14.9% | +15.36% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Before this security existed |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.2700 | |
| 2025 | $0.4200 | +20.0% |
| 2024 | $0.3500 |
What's inside
As of Jun 30, 2026, the fund held 51 securities; the ten largest made up 54.94% of assets.
| Holding | Weight | |
|---|---|---|
| Deere & Co | 11.25% | |
| Constellation Energy Corp | 7.98% | |
| Exxon Mobil Corp | 6.55% | |
| GE AEROSPACE | 6.11% | |
| Cameco Corp | 4.56% | |
| Corteva Inc | 4.01% | |
| RTX Corp | 4.01% | |
| Newmont Corp | 3.64% | |
| Chevron Corp | 3.55% | |
| Freeport-McMoRan Inc | 3.28% | |
| Agnico Eagle Mines Ltd | 2.83% | |
| Boeing Co | 2.68% | |
| Barrick Mining Corp | 2.23% | |
| Nutrien Ltd | 2.14% | |
| Wheaton Precious Metals Corp | 1.85% |
By country
United States 77.21%Canada 21.79%Netherlands 0.62%By asset type
Stocks 99.62%By sector
Sectors of the companies held, for the 66.1% of the fund in companies that have a stock page here; other holdings and cash aren't classified. Source: N-PORT holdings report as of Jun 30, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Jun 30, 2026, investors withdrew a net $3.9M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +1.08%, -2.23%, -3.75%.
How it works
FTWO tracks the Bloomberg Natural Resources & Security Total Return Index. The starting pool is Bloomberg's index of large, mid-size and small North American companies, narrowed to U.S.- and Canadian-listed shares. Bloomberg then sorts companies into five groups: fuel (oil and gas), aerospace and defense, agriculture (crop chemicals, producers and farm machinery), nuclear energy, and gold and other metals mining. In each group, the 10 largest companies by free-float market value (the value of shares actually available to trade) are picked, for about 50 stocks in all.
The index rebalances every quarter, in March, June, September and December. Each time, each of the five groups is set back to 20% of the index, and within a group, larger companies get larger weights. Between rebalances, weights drift with prices. As of June 30, 2026, Deere made up 11.25% of the fund, and the 10 largest positions together made up 54.94%.
The sub-adviser, Strive Asset Management, runs the fund passively. It generally buys every stock in the index in about the same proportions, and it does not move to cash when markets fall. The fund uses no leverage or options, and it held no derivatives as of June 30, 2026. It is non-diversified, which means it can put more money into a single company than a diversified fund can. Portfolio turnover, the share of holdings replaced over a year, was 23% in the most recent year reported in the prospectus.
What it really costs
- FTWO charges 0.49% a year.
- Using the prospectus's standard example, $10,000 invested would cost about $50 in the first year and $616 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| FTWO | $50 | $157 | $274 | $616 |
In a retirement portfolio
FTWO is a concentrated, non-diversified bet on five commodity- and government-linked themes with a short track record, so it fits better as a small add-on than as a foundation.
FTWO adds focused exposure to oil, defense, farming, nuclear power and mining. It launched on August 31, 2023, so it has no record through the 2008, 2020 or 2022 downturns. Its deepest drop was 18.2%, from January 23 to April 8, 2025. It recovered by May 13, 2025. Its weakest calendar year, 2024, still gained 15.36%. That short, mostly rising stretch says little about how a fund tied to commodity prices and defense budgets might hold up in a long bear market, when a retiree may have to sell shares at low prices.
Income is small. The trailing 12-month yield was 0.94% as of October 27, 2026, paid quarterly. In the SEC's standard $10,000 example, the 0.49% expense ratio adds up to $616 over 10 years. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors wanting one fund that spans oil, defense, farming, nuclear and mining, with each theme reset to 20% every quarter.
- Holders of broad index funds looking for a small side position in resource and security stocks at 0.49% a year.
- People open to a Canadian tilt: Canadian companies such as Cameco, Agnico Eagle and Barrick made up 21.79% of assets as of June 30, 2026.
Look elsewhere if
- Retirees who need income from their holdings: the trailing 12-month yield was only 0.94% as of October 27, 2026.
- Investors who want a crash-tested record: FTWO launched in August 2023, after the 2008, 2020 and 2022 downturns.
- Anyone uneasy with concentration: the fund is non-diversified, and its top 10 holdings were 54.94% of assets as of June 30, 2026.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
No close alternatives found.
Questions investors ask
What does FTWO invest in?
FTWO owns about 50 U.S. and Canadian stocks in five areas: fuel, aerospace and defense, agriculture, nuclear energy, and gold and metals mining. As of June 30, 2026, the largest holdings were Deere at 11.25%, Constellation Energy at 7.98%, Exxon Mobil at 6.55%, GE Aerospace at 6.11% and Cameco at 4.56%. The 10 largest positions made up 54.94% of the fund. It follows the Bloomberg Natural Resources & Security Total Return Index.
Does FTWO pay dividends?
Yes. FTWO pays dividends quarterly, but the amounts are small. Over the 12 months to October 27, 2026, it paid $0.42 per share, a yield of 0.94%. Many of its holdings, such as defense contractors, nuclear utilities and farm-equipment makers, reinvest much of their profits. The fund is built for exposure to its five themes, not for income, so it may not suit investors who rely on dividends to cover spending.
What is FTWO's expense ratio?
FTWO's expense ratio is 0.49% a year, according to its prospectus filed October 28, 2026. All of it is the management fee, and there is no fee waiver. In the SEC's standard example of $10,000 invested with a 5% annual return, total costs come to about $50 after one year, $157 after three years, $274 after five years and $616 after 10 years.
How has FTWO performed since launch?
FTWO has done well over its short life, which began on August 31, 2023. According to its prospectus, it returned 15.36% in 2024 and 42.08% in 2025. That works out to an average of 24.1% a year from launch through December 31, 2025. Based on share prices, it was up 10.45% in 2026 through October 27. Its worst quarter was a 7.17% loss in the quarter ending December 31, 2024. Past results don't predict future returns.
Is FTWO a commodity fund?
No. FTWO owns shares of companies, not commodity futures or physical gold. Even so, many of its holdings, such as Exxon Mobil, Newmont, Freeport-McMoRan and Cameco, earn more or less as oil, metal and uranium prices rise and fall, so the fund can swing with commodity markets. It is also small, with $73.1 million in net assets as of June 30, 2026. About $3.9 million more left the fund than came in over the three months to that date.