At a glance
GPT charges 0.69% a year. It has $23.7M in assets; it paid 0.68% 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%). Its ten largest positions make up 30.3% of the fund, out of 86 in all.
The short version
Intelligent Alpha Atlas ETF (GPT) is an actively managed fund that uses artificial intelligence to pick 60 to 90 U.S.-listed stocks, including U.S.-traded shares of foreign companies. Three AI language models each choose market themes and stocks, a human analyst checks eligibility, and the portfolio is generally rebuilt at least quarterly. The trade-offs: a 0.69% annual expense ratio, heavy trading (315% turnover) and a record that begins in September 2024.
Price history
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GPT +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 | |
|---|---|---|---|---|---|---|
| GPT official prospectus, to Dec 31, 2025 | — | +24.75% | — | — | — | +15.50% |
| GPT price data to Oct 27, 2026 | +13.1% | +11.2% | — | — | — | +15.9% |
- Over the year to Oct 27, 2026, GPT returned +11.2%.
- Its worst full calendar year was 2025 (+24.9%); its best was 2025 (+24.9%).
- The deepest fall in its price history was 25.6% (Oct 4, 2024 to Apr 8, 2025), recovered by Jul 3, 2025.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +13.1% | — |
| 2025 | +24.9% | +24.75% |
| 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 | $0.2300 |
What's inside
As of Jun 30, 2026, the fund held 86 securities; the ten largest made up 30.32% of assets. It also reported 20.33% in a money-market fund, most likely cash collateral from lending out shares rather than uninvested money.
| Holding | Weight | |
|---|---|---|
| Quanta Services Inc | 4.62% | |
| Vertiv Holdings Co | 4.44% | |
| Eaton Corp PLC | 3.86% | |
| Eli Lilly & Co | 2.83% | |
| SoftBank Group Corp | 2.80% | |
| Hubbell Inc | 2.56% | |
| JPMORGAN CHASE & CO. | 2.48% | |
| KB Financial Group Inc | 2.35% | |
| Honda Motor Co Ltd | 2.29% | |
| Vertex Pharmaceuticals Inc | 2.09% | |
| Visa Inc | 2.05% | |
| Constellation Energy Corp | 1.97% | |
| Itau Unibanco Holding SA | 1.91% | |
| Canon Inc | 1.89% | |
| Grupo Aeroportuario del Sureste SAB de CV | 1.77% |
By country
United States 54.93%Japan 14.41%Mexico 4.44%Canada 4.02%Ireland 3.86%By asset type
Stocks 99.47%What changed recently
- Over the three months to Jun 30, 2026, investors added a net $753K (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +8.26%, +1.04%, +1.10%.
How it works
GPT does not track an index. Its sub-adviser, Intelligent Alpha, LLC, prompts three large language models (AI programs trained on vast amounts of text) to each name six themes they expect to do well over the next 12 months, such as AI infrastructure or global defense. The models can draw on news, company data from providers such as FactSet, and the moves of well-known investment managers seen in 13F filings, their quarterly holdings reports.
Each model then picks five stocks per theme, up to 30 in all, weighted by conviction, with no company above 30% of a theme. A human analyst checks that each pick is eligible. Each model's list gets one-third of the fund, and no holding may exceed 10%, with any excess shifted to stocks in the same theme. The fund typically holds 60 to 90 companies worth over $1 billion when added.
The portfolio is generally rebuilt at least quarterly. Reported turnover was 315%, meaning the fund traded more than three times its assets in a year, and those trading costs aren't in the expense ratio. The fund may also hold other ETFs, such as a gold ETF for a gold theme, or leveraged and inverse ETFs, which aim to magnify or reverse an index's daily moves. As of June 30, 2026, it held no other funds.
What it really costs
- GPT charges 0.69% a year.
- Using the prospectus's standard example, $10,000 invested would cost about $70 in the first year and $859 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| GPT | $70 | $221 | $384 | $859 |
In a retirement portfolio
An AI-driven active strategy with 315% turnover, a 0.69% expense ratio and a record starting in September 2024 fits a small, higher-risk slice rather than a portfolio's foundation.
GPT launched in September 2024, so it has no record in the 2008 financial crisis, the 2020 COVID crash or the 2022 bear market. Its only full calendar year, 2025, returned 24.75%. Its deepest drop was 25.6%, from October 4, 2024 to April 8, 2025; it regained the old high by July 3, 2025. Anyone forced to cash out shares near that low would have locked in the loss. Such a short record says little about how it would hold up in a long bear market.
Income is small: the yield was 0.68% as of October 27, 2026, paid once a year. In the SEC's standard example, the 0.69% expense ratio works out to $70 in costs over one year and $859 over 10 years on $10,000. Past results don't predict future ones, and a retirement plan needs to look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors curious about AI-driven stock picking who are willing to pay a 0.69% expense ratio for a small, separate slice of their portfolio.
- Those wanting a globally mixed stock basket: 54.93% U.S. and 14.41% Japan as of June 30, 2026, led by Quanta Services, Vertiv and Eaton.
- Investors who can live with sharp swings: it fell 25.6% from October 2024 to April 2025, then regained its high by July 2025.
Look elsewhere if
- Income- or cost-focused investors: the yield was 0.68% as of October 27, 2026, paid annually, against a 0.69% expense ratio and 315% turnover.
- Those wanting a long record or a large fund: GPT launched in September 2024 and had $23.7 million in assets as of June 30, 2026.
- Investors who prefer clear, repeatable rules: picks come from AI models the prospectus warns could rely on wrong data or out-of-favor themes.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
No close alternatives found.
Questions investors ask
What does the GPT ETF invest in?
GPT typically holds 60 to 90 U.S.-listed stocks picked by AI models, including U.S.-traded shares of foreign companies. As of June 30, 2026, it held 86 companies, and the top 10 made up 30.32% of assets. The largest were Quanta Services (4.62%), Vertiv (4.44%), Eaton (3.86%), Eli Lilly (2.83%) and SoftBank Group (2.8%). U.S. companies made up 54.93% and Japanese companies 14.41%, with smaller stakes in Mexico, Canada, Ireland and Brazil.
How does the GPT ETF use AI to pick stocks?
It asks three large language models to each name six themes they expect to do well over the next 12 months, then pick five stocks per theme, weighted by conviction. A human analyst at sub-adviser Intelligent Alpha checks that each pick is eligible. Each model's list gets one-third of the fund, and no stock may exceed 10%. Some themes may draw on 13F filings (big managers' quarterly holdings reports), filed up to 45 days after each quarter ends, so those managers may have already moved on.
How has the GPT ETF performed?
GPT returned 24.75% in 2025, its only full calendar year, and averaged 15.5% a year from its September 2024 launch through December 31, 2025, according to its prospectus. Based on share prices, it gained 11.2% over the year ended October 27, 2026. The ride has been bumpy: it fell 25.6% from October 4, 2024 to April 8, 2025, then regained its high by July 3, 2025. Its record is too short to show how it handles a long bear market.
How is GPT different from an index fund?
GPT doesn't follow an index. An index fund holds whatever its published rules dictate and changes holdings mainly when the index does. GPT's stocks are chosen by AI models around themes, and the portfolio is generally rebuilt at least quarterly, with turnover of 315%. Its results depend on those calls rather than on the market as a whole. It also charges a 0.69% expense ratio, higher than many broad index funds, and its one-year beta was 1.2 as of October 27, 2026, meaning it swung more than the market.
Is GPT good for retirement income?
Not as an income source. GPT pays income once a year, and its yield was 0.68% as of October 27, 2026, or $0.23 per share over the prior 12 months. Its stated goal is long-term capital appreciation, meaning growth in share value. In a retirement portfolio it fits more naturally as a small, higher-risk satellite than a core holding, since it launched in September 2024 and has never been tested by a long bear market.