At a glance
JSTC charges 0.89% a year, above the 0.17% average of the 6 funds most like it (the most expensive of 7). It has $302.3M in assets, the 5th largest of that group; it paid 1.23% of its price in distributions over the past 12 months, semiannual. Over the past year it returned +11.6% with distributions reinvested (S&P 500: +11.5%), 5th of those 7 funds; over three years it returned +17.2% a year. At its worst it fell 26.4% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 21 months after the low. Its ten largest positions make up 10.8% of the fund, out of 615 in all.
The short version
Adasina Social Justice All Cap Global ETF (JSTC) is an actively managed fund that holds about 615 global stocks screened for racial, gender, economic and climate justice, aiming to match the Adasina Social Justice Index. Two things set it apart: its 0.89% expense ratio is far above the 0.17% average of similar funds, and it is built around values-based exclusions, with at least 40% of assets outside the US.
Price history
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JSTC +11.6% 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 | |
|---|---|---|---|---|---|---|
| JSTC official prospectus, to Dec 31, 2024 | — | +9.01% | — | — | — | +5.99% |
| JSTC price data to Oct 27, 2026 | +12.5% | +11.6% | +17.2% | +6.1% | — | +7.5% |
- Over the year to Oct 27, 2026, JSTC returned +11.6%, 5th of 7 among similar funds.
- Its 5-year annualized return was +6.1%.
- Its worst full calendar year was 2022 (-17.6%); its best was 2023 (+15.7%).
- The deepest fall in its price history was 26.8% (Nov 8, 2021 to Oct 12, 2022), recovered by Jul 16, 2024.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +12.5% | — |
| 2025 | +12.1% | — |
| 2024 | +9.0% | +9.01% |
| 2023 | +15.7% | +15.22% |
| 2022 | -17.6% | -17.18% |
| 2021 | — | +18.77% |
| 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 | Lost 26.4% over that stretch · deepest drop along the way 26.4%, back to its old high 21 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.1000 | |
| 2025 | $0.2800 | +33.3% |
| 2024 | $0.2100 | +16.7% |
| 2023 | $0.1800 | +50.0% |
| 2022 | $0.1200 |
What's inside
As of Aug 31, 2026, the fund held 615 securities; the ten largest made up 10.75% of assets, and 2.83% sat in cash and money-market holdings.
| Holding | Weight | |
|---|---|---|
| Visa Inc | 1.43% | |
| Lam Research Corp | 1.37% | |
| AbbVie Inc | 1.18% | |
| Mastercard Inc | 1.18% | |
| Eli Lilly & Co | 1.02% | |
| ABB Ltd | 1.00% | |
| Cummins Inc | 0.92% | |
| Hydro One Ltd | 0.90% | |
| Sherwin-Williams Co | 0.88% | |
| Samsung Electronics Co Ltd | 0.87% | |
| CME Group Inc | 0.84% | |
| Prudential Financial Inc | 0.79% | |
| Malayan Banking Bhd | 0.77% | |
| Gilead Sciences Inc | 0.76% | |
| Nasdaq Inc | 0.74% |
By country
United States 55.05%Japan 6.36%Taiwan 4.21%Canada 3.41%Switzerland 3.3%By asset type
Stocks 99.53%What changed recently
- Over the three months to Aug 31, 2026, investors withdrew a net $40.2M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +2.67%, -1.23%, +1.48%.
How it works
JSTC is run by Adasina Social Capital as sub-adviser, under Tidal Financial Group. Adasina owns the Adasina Social Justice Index. EQM Indexes, a VettaFi company, administers it. The index starts with roughly 9,000 US and non-US stocks, leaves out real estate investment trusts (REITs, companies that own property), and then removes companies that fail Adasina's Social Justice Investment Criteria. Those criteria fall into five categories, including racial, gender, economic and climate justice. Adasina builds them with social justice organizations. Exclusions include prison and immigrant detention operators, money bail services, for-profit colleges, predatory lenders and companies with poor labor practices.
The fund is actively managed, but Adasina generally plans to buy every stock in the index. This is called replication. It may instead hold a representative sample that is expected to track the index. It can also buy or sell a stock before the index's next rebuild if new information emerges. Non-US companies are often held as American Depositary Receipts (ADRs), which are US-traded shares of foreign companies.
Normally the fund holds stocks from at least three countries and puts at least 40% of assets in non-US companies. As of August 31, 2026, it owned 615 stocks, and the top 10 made up just 10.75% of assets. Turnover was 81%, which means fairly active trading.
What it really costs
- JSTC charges 0.89% a year, versus an average of 0.17% for the similar funds below (7th of 7, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $91 in the first year and $1,096 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| JSTC | $91 | $284 | $493 | $1,096 |
In a retirement portfolio
It is a broad global stock fund, but its values-based exclusions, 0.89% fee and small size make it better suited to a smaller slice of a portfolio than to the main holding.
JSTC could add global stock exposure screened for social justice values. As of August 31, 2026, about 55% of the portfolio was in US companies, with Japan and Taiwan next. The fund did not exist during the 2008 crisis or the 2020 COVID crash. In the 2022 bear market it fell 26.4%. Its deepest drop, 26.8% from November 2021 to October 2022, took about 21 months to recover, by July 2024. Its worst calendar year was 2022, when it fell about 17%. Someone who had to sell shares for spending money in a year like that would have sold at low prices. Income is modest: the trailing 12-month yield was 1.23% as of October 27, 2026, paid twice a year. The fund costs 0.89% a year. In the SEC's standard example, that comes to $1,096 over 10 years on $10,000. Past results don't predict future ones, 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 their stock holdings to exclude prison operators, predatory lenders and other companies that fail Adasina's social justice criteria.
- Long-term holders who want one fund with about 615 global stocks, with at least 40% normally held outside the US.
- Investors who accept market-like swings: the fund's one-year beta was 0.97 and it fell 26.8% at its worst.
Look elsewhere if
- Cost-focused investors: its 0.89% expense ratio ranks 7th of 7 against similar funds, whose average is 0.17%.
- Retirees needing steady income: the yield was 1.23% as of October 27, 2026, paid only twice a year.
- Investors wanting a large, long-tested fund: it held about $302 million as of August 31, 2026, after $40 million left in three months.
Close alternatives
Matched by closest holdings overlap from the latest N-PORT reports (no similar fund shares 20% or more of its holdings).
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| JSTC this fund | — | 0.89% | $302.3M | +11.6% | +17.2% |
| JQUA JPMorgan U.S. Quality Factor ETF | 20% | 0.12% | $8.22B | +21.6% | +24.2% |
| USXF iShares ESG Advanced MSCI USA ETF | 18% | 0.1% | $1.48B | +14.9% | +27.7% |
| CVMC Calvert US Mid-Cap Core Responsible Index E… | 18% | 0.15% | $102.8M | +18.6% | +21.1% |
| CFA VictoryShares US 500 Volatility Wtd ETF | 17% | 0.35% | $533.5M | +11.2% | +17.3% |
| ESMV iShares ESG MSCI USA Min Vol Factor ETF | 15% | 0.18% | $7.7M | +12.0% | +15.1% |
| ESGU iShares ESG Aware MSCI USA ETF | 14% | 0.15% | $18.15B | +11.0% | +21.6% |
Questions investors ask
What is the expense ratio of JSTC?
JSTC's expense ratio is 0.89%, according to its prospectus filed December 15, 2025. All of it is the management fee, and no fee waiver is listed. That is far above the 0.17% average for similar funds. In the SEC's standard example, $10,000 earning 5% a year would cost $91 in fees after one year, $493 after five years and $1,096 after ten. Higher costs come straight out of returns every year.
Does JSTC pay dividends?
Yes. JSTC pays dividends twice a year. Its trailing 12-month yield was 1.23% as of October 27, 2026, or about $0.28 per share. The fund's stated goal includes both capital appreciation and income. Still, the payout is modest because it holds a broad mix of growth and dividend stocks. It is not built to provide high income, so investors who want monthly or larger payouts may want to compare dedicated income funds.
Is JSTC an index fund?
Not strictly. JSTC is actively managed, but it aims for returns similar to the Adasina Social Justice Index. Adasina owns that index, and EQM Indexes administers it. Adasina generally expects to hold every stock in the index. It may instead use a representative sample, or trade stocks before the index's next rebuild if new information arises. That flexibility, plus 81% turnover, makes it more hands-on than a typical passive index fund.
JSTC vs USXF: what's the difference?
Both screen stocks on values, but they differ in scope and cost. iShares ESG Advanced MSCI USA ETF (USXF) charges 0.10% and, as its name says, tracks US stocks. JSTC charges 0.89% and normally keeps at least 40% outside the US. Only about 18% of their holdings overlap. As of October 27, 2026, USXF's three-year annualized return was 27.7%, compared with 17.2% for JSTC. Their exclusion rules also differ.
How did JSTC do in 2022?
JSTC lost 17.18% in 2022, according to its prospectus. That was its weakest calendar year. Its worst quarter was the one ending June 30, 2022, down 15.12%. From the market peak on January 3, 2022, to the October 12, 2022 low, it fell 26.4%. It recovered by July 2024, about 21 months after the low. It then gained 15.22% in 2023 and 9.01% in 2024.