At a glance
GGM charges 0.94% a year, above the 0.86% average of the 7 funds most like it (the 6th cheapest of 8). It has $20.8M in assets, the 8th largest of that group; it paid 1.41% of its price in distributions over the past 12 months, annual. Over the past year it returned +11.2% with distributions reinvested (S&P 500: +11.5%), 6th of those 8 funds; over three years it returned +10.0% a year.
The short version
GGM Macro Alignment ETF, from Grant/GrossMendelsohn LLC, is an actively managed fund of funds that owns five equally weighted U.S. sector and style ETFs. It may suit investors who want rules-based sector rotation: each quarter, a model forecasts growth and inflation and can shift the fund into new sectors. The trade-offs are a 0.94% expense ratio and a weak record against the S&P 500, which returned 25.02% in 2024 to the fund's 4.88%.
Price history
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GGM +11.2% 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 | |
|---|---|---|---|---|---|---|
| GGM official prospectus, to Dec 31, 2024 | — | +4.88% | — | — | — | +9.06% |
| S&P 500 Total Return Index (reflects no deduction for fees, expenses or taxes) index, same period | — | +25.02% | — | — | — | +29.04% |
| GGM price data to Oct 27, 2026 | +11.9% | +11.2% | +10.0% | — | — | +8.1% |
- Over the year to Oct 27, 2026, GGM returned +11.2%, 6th of 8 among similar funds.
- Its worst full calendar year was 2025 (+1.3%); its best was 2024 (+4.5%).
- The deepest fall in its price history was 19.7% (Dec 3, 2024 to Apr 8, 2025), recovered by Feb 26, 2026.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +11.9% | — |
| 2025 | +1.3% | — |
| 2024 | +4.5% | +4.88% |
| 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 |
|---|---|---|
| 2025 | $0.4300 | +13.2% |
| 2024 | $0.3800 |
What's inside
As of Aug 31, 2026, the fund held 5 securities; the ten largest made up 99.17% of assets.
| Fund held | Weight | |
|---|---|---|
| SS ENERGY SELECT | 21.39% | |
| SS MATERIALS ETF | 20.28% | |
| SS SPDR P SP500V | 19.75% | |
| SPDR PORTFOLIO S | 19.59% | |
| SS INDUSTRIAL | 18.17% |
By country
United States 99.17%By asset type
Stocks 99.17%What changed recently
- Over the three months to Aug 31, 2026, investors added a net $480K (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +4.47%, +1.69%, +2.87%.
How it works
GGM does not track an index. Instead, a rules-based model forecasts the economy for the coming quarter by gauging how fast growth and inflation are speeding up or slowing down. The fund then moves into the three sector ETFs and two sub-sector or style ETFs with the highest back-tested returns in that kind of economy. A back-test shows how a holding would have done in the past, not actual results.
The five ETFs are equally weighted, about 20% each, to limit the impact of any one pick. Choices range from broad sectors such as energy or health care to narrower ones such as semiconductors, plus styles such as small cap, value or fixed income (bonds). Each is an unaffiliated index ETF screened for low costs, ample trading volume and close tracking of its index. As of August 31, 2026, GGM held energy (21.4%), materials (20.3%) and industrial (18.2%) sector funds, an S&P 500 value fund (19.7%) and a second SPDR Portfolio fund (19.6%).
Each quarter, the fund resets to equal weights, whether or not the lineup changes. Portfolio turnover, a measure of how much of the portfolio is traded in a year, was 467% in the December 2025 prospectus. Heavy trading can add costs not shown in the expense ratio. A trading sub-adviser places the trades.
What it really costs
- GGM charges 0.94% a year, versus an average of 0.86% for the similar funds below (6th of 8, cheapest first).
- Of that, 0.74% is the management fee; the rest covers other fund expenses.
- Using the prospectus's standard example, $10,000 invested would cost about $96 in the first year and $1,155 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| GGM | $96 | $300 | $520 | $1,155 |
Structure and tax notes
- Invests in other funds rather than directly in stocks or bonds, so its holdings are those funds.
In a retirement portfolio
It makes concentrated quarterly bets on five ETFs chosen by an economic forecast, with a short record and a 0.94% expense ratio, so it fits better as a small add-on than a foundation.
GGM could add a rules-based tilt toward the sectors its model favors, but its record is short. It launched on September 26, 2023, so its history doesn't include the 2008, 2020 or 2022 downturns. Its worst full calendar year, 2025, still ended up about 1.3%. Its deepest drop, 19.7%, ran from December 3, 2024, to April 8, 2025, and the fund took about 10.6 months from that low to get back to its prior peak, on February 26, 2026. Anyone who had to cash out near the low would have locked in a loss.
It adds little income: the trailing 12-month yield was 1.41% as of October 27, 2026, paid once a year. Costs are high, at 0.94% a year, or $1,155 over 10 years on $10,000 in the SEC's standard example. Past results don't predict future returns, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want rules-based sector rotation, with five equally weighted U.S. ETFs reviewed each quarter against growth and inflation forecasts.
- Those filling a small satellite slot who accept a 0.94% expense ratio and a track record that only began in September 2023.
- Holders comfortable with big sector tilts; as of August 31, 2026, energy, materials and industrials funds were three of its five holdings.
Look elsewhere if
- Investors seeking a low-cost core holding: at 0.94% a year, the SEC's $10,000 example shows $1,155 in costs over 10 years.
- Retirees needing regular income: GGM pays once a year, and its trailing 12-month yield was 1.41% as of October 27, 2026.
- Investors who expect to keep pace with the S&P 500: GGM returned 4.88% in 2024, versus 25.02% for the index.
Close alternatives
Matched by other buffer (defined-outcome) funds, largest first.
| Fund | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|
| GGM this fund | 0.94% | $20.8M | +11.2% | +10.0% |
| BUFR FT Vest Laddered Buffer ETF | 0.95% | $10.49B | +11.6% | +16.8% |
| BUFD FT Vest Laddered Deep Buffer ETF | 0.95% | $2.04B | +9.5% | +13.9% |
| PJAN Innovator U.S. Equity Power Buffer ETF - Ja… | 0.79% | $1.44B | +10.5% | +14.8% |
| PDEC Innovator U.S. Equity Power Buffer ETF - De… | 0.79% | $984.1M | +11.6% | +14.9% |
| FDEC FT Vest US Equity Buffer ETF - December | 0.85% | $1.31B | +12.9% | +18.5% |
| FJAN FT Vest US Equity Buffer ETF - January | 0.85% | $1.47B | +12.3% | +17.4% |
| FFEB FT Vest U.S. Equity Buffer Fund - February | 0.85% | $1.42B | +12.9% | +18.6% |
Questions investors ask
What does the GGM ETF invest in?
GGM invests in five other ETFs rather than in individual stocks. It holds three U.S. sector ETFs and two sub-sector or style ETFs, at roughly equal weights. As of August 31, 2026, they were energy (21.4%), materials (20.3%) and industrial (18.2%) sector funds, an S&P 500 value fund (19.7%) and a second SPDR Portfolio fund (19.6%). The lineup can change each quarter, and a style slot can hold a bond ETF.
How has GGM performed compared with the S&P 500?
It has trailed by a wide margin. In 2024, GGM returned 4.88% while the S&P 500 Total Return Index gained 25.02%, according to the fund's prospectus. From its September 26, 2023, launch through December 31, 2024, the fund averaged 9.06% a year versus 29.04% for the index. Based on market prices, GGM returned 11.2% over the year to October 27, 2026, and 10% a year over three years.
Does GGM pay dividends?
Yes, but only once a year, and the amount is modest. Over the 12 months to October 27, 2026, GGM paid about $0.43 per share, a trailing yield of 1.41%. The fund's stated goal is long-term capital appreciation, meaning growth in share value, not income. Its holdings can also change every quarter, so the size of future payouts may shift with the sectors it owns.
What is GGM's expense ratio?
GGM's expense ratio is 0.94% a year, according to its prospectus filed December 23, 2025. That includes a 0.74% management fee for running the rotation model. In the SEC's standard example, $10,000 invested with a 5% yearly return would cost about $96 in the first year, $520 over five years and $1,155 over 10 years. Owning the underlying index ETFs directly would avoid the management fee but leave the quarterly switching to the investor.
How risky is GGM ETF?
Its swings have been moderate, but its concentration adds risk. Volatility, a measure of how widely returns bounce around, was 13.1% a year over the three years to October 27, 2026. The deepest drop was 19.7%, from December 3, 2024, to April 8, 2025. With only five holdings, a wrong economic forecast can hurt. The fund is also small, with about $20.8 million in net assets as of August 31, 2026, which can mean wider gaps between quoted buying and selling prices.