At a glance
LGCF charges 0.29% a year, above the 0.23% average of the 8 funds most like it (the 6th cheapest of 9). It has $2.1M in assets, the 9th largest of that group; it paid 1.64% of its price in distributions over the past 12 months, annual. Over the past year it returned +15.8% with distributions reinvested (S&P 500: +11.5%), 6th of those 9 funds. Its ten largest positions make up 39.6% of the fund, out of 74 in all.
The short version
Themes US Cash Flow Champions ETF (LGCF) tracks the Solactive US Cash Flow Champions Index: 75 US large and mid-size companies that produce a lot of spare cash relative to their value. It picks stocks on cash generation, not dividends, and leaned heavily on financials and energy as of June 30, 2026. Its 0.29% fee is above the 0.23% average of similar funds, and with about $2.1 million in assets, it is very small.
Price history
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LGCF +15.8% 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 | |
|---|---|---|---|---|---|---|
| LGCF official prospectus, to Dec 31, 2025 | — | +15.63% | — | — | — | +17.96% |
| LGCF price data to Oct 27, 2026 | +12.5% | +15.8% | — | — | — | +12.9% |
- Over the year to Oct 27, 2026, LGCF returned +15.8%, 6th of 9 among similar funds.
- The deepest fall in its price history was 16.7% (Feb 19, 2025 to Apr 8, 2025), recovered by Jul 3, 2025.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +12.5% | — |
| 2025 | — | +15.63% |
| 2024 | — | +17.70% |
| 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
No distribution history is available for this fund.
Distributions through Oct 27, 2026.What's inside
As of Jun 30, 2026, the fund held 74 securities; the ten largest made up 39.63% of assets.
| Holding | Weight | |
|---|---|---|
| Goldman Sachs Group Inc | 5.68% | |
| AbbVie Inc | 5.59% | |
| JPMorgan Chase & Co | 5.40% | |
| Exxon Mobil Corp | 3.90% | |
| Chevron Corp | 3.88% | |
| QUALCOMM Inc | 3.66% | |
| American Express Co | 3.42% | |
| Gilead Sciences Inc | 2.90% | |
| Uber Technologies Inc | 2.68% | |
| Pfizer Inc | 2.53% | |
| ConocoPhillips | 2.37% | |
| Progressive Corp | 2.37% | |
| Capital One Financial Corp | 2.36% | |
| Chubb Ltd | 2.31% | |
| Altria Group Inc | 2.23% |
By country
United States 94.74%Switzerland 2.31%Uruguay 1.51%Bermuda 0.94%By asset type
Stocks 99.51%By sector
Sectors of the companies held, for the 87% 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 $1.0M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +2.54%, -0.19%, +0.73%.
How it works
LGCF doesn't pick stocks; it copies the Solactive US Cash Flow Champions Index, designed by Solactive AG, which is unaffiliated with the adviser, Themes Management Company. The index starts with the Solactive GBS United States Large & Mid Cap Index and keeps companies with a positive free cash flow yield over the last four years. Free cash flow is cash from operations minus capital spending; the yield divides it by enterprise value (stock market value plus debt, minus cash). The index then takes the 75 companies with the highest estimated cash flow yield for next year.
Holdings are weighted by free-float market value (only shares available to trade), with a 5% cap per company. Holdings can exceed the cap between rebalances: as of June 30, 2026, Goldman Sachs, AbbVie and JPMorgan Chase each weighed 5.4% to 5.7%. Selection happens on the last business day of each quarter, with rebalancing seven days later. A buffer rule lets a current member stay if it ranks in the top 200, which limits trading; the prospectus reports 20% portfolio turnover.
The fund generally owns every stock in the index, and it held no derivatives as of June 30, 2026. It is non-diversified, meaning it can hold bigger stakes in fewer companies, and it won't shift to cash when markets fall.
What it really costs
- LGCF charges 0.29% a year, versus an average of 0.23% for the similar funds below (6th of 9, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $30 in the first year and $368 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| LGCF | $30 | $93 | $163 | $368 |
In a retirement portfolio
Its tiny asset base, heavy tilt toward financials and energy, and short history fit a small side position better than a portfolio's foundation.
LGCF could add a tilt toward cash-rich financial, energy and health care stocks. Launched December 13, 2023, it has no record from the 2008, 2020 or 2022 downturns. Its two full calendar years were both gains: 17.7% in 2024 and 15.63% in 2025. Its deepest drop since February 2025 was 16.7%, from February 19 to April 8, 2025; it recovered by July 3, about 2.8 months later. A retiree selling near that low would have locked in the loss.
It yielded 1.64% over the 12 months to October 27, 2026, paid once a year, so it offers little steady income. Costs, per the SEC's $10,000 example, run $30 the first year and $368 over 10 years. Assets were about $2.1 million as of June 30, 2026, and tiny funds are more likely to close. Past results don't predict the future; 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 US stocks chosen by free cash flow yield, not dividend history, through a rules-based index that reselects holdings every quarter.
- Those comfortable with big sector bets: as of June 30, 2026, financials were 32.7%, energy 18.9% and health care 16.8% of the fund.
- Investors wanting a fund that moved less than the market: beta, a gauge of market sensitivity, was 0.4 over the year to October 27, 2026.
Look elsewhere if
- People who need regular income: the yield was 1.64% over the 12 months to October 27, 2026, paid in a single annual distribution.
- Cost-focused investors: overlapping funds such as SCHD (0.06%), HDV (0.08%) and XLF (0.08%) charge far less than LGCF's 0.29%.
- Anyone wary of tiny or untested funds: assets were about $2.1 million as of June 30, 2026, and its record starts in December 2023.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| LGCF this fund | — | 0.29% | $2.1M | +15.8% | — |
| GMOV GMO US Value ETF | 31% | 0.5% | $107.1M | +25.5% | — |
| XLF Financial Select Sector SPDR Fund | 29% | 0.08% | $51.35B | +9.9% | +22.7% |
| DHS WisdomTree US High Dividend Fund | 27% | 0.38% | $1.50B | +20.5% | +21.1% |
| FNCL Fidelity MSCI Financials Index ETF | 26% | 0.084% | $2.38B | +6.5% | +23.6% |
| VFH Vanguard Financials ETF | 25% | 0.09% | $14.77B | +10.0% | +23.4% |
| HDV iShares Core High Dividend ETF | 21% | 0.08% | $14.90B | +38.0% | +21.7% |
| BDVG IMGP Berkshire Dividend Growth ETF | 21% | 0.55% | $13.6M | +21.7% | +20.5% |
Questions investors ask
What stocks does LGCF hold?
LGCF holds about 75 US large and mid-size companies chosen for high free cash flow yield. As of June 30, 2026, the largest were Goldman Sachs (5.7%), AbbVie (5.6%), JPMorgan Chase (5.4%), Exxon Mobil (3.9%) and Chevron (3.9%), and the top 10 made up 39.6% of the fund. Financials were 32.7%, energy 18.9% and health care 16.8%, while technology was just 4.8%. US companies made up 94.7%; the biggest exception was Chubb, classified as Swiss, at 2.3%.
Does LGCF pay monthly dividends?
No. LGCF pays income once a year. Over the 12 months to October 27, 2026, it paid $0.63 a share, a yield of 1.64%. The index doesn't pick stocks on dividends at all; it ranks companies on free cash flow yield, so the payout depends on what the holdings happen to pay. Investors who rely on regular checks may find monthly or quarterly payers easier to plan around.
How has LGCF performed since launch?
LGCF returned 17.7% in 2024, its first full calendar year, and 15.63% in 2025, per its prospectus. Its average annual return from its December 13, 2023 launch through December 31, 2025 was 17.96%. Based on share prices, it gained 15.8% over the year to October 27, 2026, and 12.5% in 2026 through that date, ranking sixth of nine in its comparison group over one year. Its strongest quarter gained 11.82% and its weakest lost 2.37%, both in 2024.
What's the difference between LGCF and GMOV?
The main differences are cost, size and one-year returns. GMO US Value ETF (GMOV), the similar fund sharing the most holdings with LGCF (about 31% overlap), charges 0.50% a year versus LGCF's 0.29%. GMOV returned 25.5% over the year to October 27, 2026, against LGCF's 15.8%. It is also far larger, with about $107 million in net assets as of August 31, 2026, compared with roughly $2.1 million for LGCF as of June 30, 2026.
Is LGCF a risky ETF?
It carries the usual stock-market risk plus several of its own. It is non-diversified, meaning it can hold bigger stakes in fewer companies. As of June 30, 2026, financials made up 32.7% and energy 18.9%, and assets were only about $2.1 million, which raises closure and trading risks. It fell 16.7% from February 19 to April 8, 2025, then recovered by July 3. Its beta of 0.4 over the year to October 27, 2026 means it tended to move less than half as much as the broad market.