At a glance
OALC charges 0.49% a year, above the 0.08% average of the 8 funds most like it (the most expensive of 9). It has $242.4M in assets, the 9th largest of that group; it paid 0.53% of its price in distributions over the past 12 months, annual. Over the past year it returned +16.9% with distributions reinvested (S&P 500: +11.5%), the best of those 9 funds; over three years it returned +24.8% a year. At its worst it fell 25.6% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 14 months after the low. Its ten largest positions make up 34.0% of the fund, out of 205 in all.
The short version
OneAscent Large Cap Core ETF (OALC) is an actively managed fund that aims to closely track the S&P 500 Index. It holds about 200 large US companies that pass OneAscent's values-based screen, which excludes businesses tied to abortion, gambling, alcohol, tobacco, cannabis, pornography and predatory lending. That approach costs more. Its 0.49% expense ratio is the highest in a group of nine similar funds, and the other eight average 0.08%.
Price history
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OALC +16.9% 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 | |
|---|---|---|---|---|---|---|
| OALC official prospectus, to Dec 31, 2024 | — | +19.91% | — | — | — | +6.19% |
| S&P 500 Index (reflects no deduction for fees, expenses, or U.S. taxes) index, same period | — | +25.02% | — | — | — | +9.25% |
| OALC price data to Oct 27, 2026 | +16.8% | +16.9% | +24.8% | — | — | +11.2% |
- Over the year to Oct 27, 2026, OALC returned +16.9%, 1st of 9 among similar funds.
- Its worst full calendar year was 2022 (-18.1%); its best was 2023 (+22.0%).
- The deepest fall in its price history was 26.7% (Dec 29, 2021 to Oct 14, 2022), recovered by Jan 11, 2024.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +16.8% | — |
| 2025 | +20.4% | — |
| 2024 | +19.7% | +19.91% |
| 2023 | +22.0% | +22.09% |
| 2022 | -18.1% | -18.06% |
| 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 25.6% over that stretch · deepest drop along the way 25.6%, back to its old high 14 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2025 | $0.2200 | +4.8% |
| 2024 | $0.2100 | +110.0% |
| 2023 | $0.1000 | +25.0% |
| 2022 | $0.0800 |
What's inside
As of May 31, 2026, the fund held 205 securities; the ten largest made up 33.99% of assets.
| Holding | Weight | |
|---|---|---|
| NVIDIA CORP | 7.61% | |
| MICROSOFT CORP | 5.25% | |
| AMAZON.COM INC | 4.22% | |
| ALPHABET INC | 3.52% | |
| BROADCOM INC | 3.07% | |
| ALPHABET INC | 2.87% | |
| MICRON TECHNOLOGY INC | 2.22% | |
| CISCO SYSTEMS INC | 2.15% | |
| ELI LILLY & COMPANY | 1.60% | |
| JP MORGAN CHASE & COMPANY | 1.48% | |
| BERKSHIRE HATHAWAY INC | 1.46% | |
| ADVANCED MICRO DEVICES INC | 1.42% | |
| WALMART INC | 1.19% | |
| CORNING INC | 1.13% | |
| EXXON MOBIL CORP | 1.13% |
By country
United States 98.92%Ireland 0.43%United Kingdom 0.18%Switzerland 0.18%By asset type
Stocks 99.7%By sector
Sectors of the companies held, for the 88.9% 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 May 31, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to May 31, 2026, investors added a net $12.5M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: -4.83%, +12.31%, +5.79%.
How it works
OALC is actively managed rather than a traditional index fund, but its goal is to closely match the S&P 500 Index before expenses. OneAscent, the adviser, targets about 200 stocks and a tracking error of about 2%. Tracking error measures how far a fund's returns tend to drift from its benchmark. A 2% target means the fund aims to stay close to the index, not copy it exactly. Eligible companies are based in the US and worth more than $5 billion when first bought. At least 80% of net assets go into these large companies.
Before picking stocks, OneAscent removes companies it judges to "demonstrably and consistently harm their stakeholders." It looks at how much revenue a company earns from harmful products and at patterns of harmful conduct, such as ties to forced labor, products that cause physical harm or death, and environmental mismanagement. Excluded areas include abortion-related products and facilities, adult entertainment, gambling, tobacco, alcohol, cannabis, predatory lending, human rights violations and severe ethics controversies. The screen is proprietary. If a holding later fails it, the adviser intends, but is not required, to sell.
As of May 31, 2026, the fund held 205 stocks, with 34% in its top 10. NVIDIA (7.6%), Microsoft (5.2%) and Amazon (4.2%) led the list, and technology was the largest sector at about 37%. The fund used no derivatives. Portfolio turnover was 28%.
What it really costs
- OALC charges 0.49% a year, versus an average of 0.08% for the similar funds below (9th of 9, cheapest first).
- Of that, 0.35% is the management fee; the rest covers other fund expenses.
- The fee includes a 0.09% waiver from the adviser, which may end.
- Using the prospectus's standard example, $10,000 invested would cost about $50 in the first year and $717 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| OALC | $50 | $177 | $315 | $717 |
In a retirement portfolio
It aims to track the broad S&P 500 while applying a values screen, so it could serve as the main US stock holding for investors who want those exclusions.
OALC launched in November 2021, so it has no record through the 2008 financial crisis or the 2020 COVID crash. Its main test was the 2022 bear market. It fell 25.6% between January 3 and October 12, 2022, and took about 14 months to recover. Its deepest drop was 26.7%, from December 29, 2021, to October 14, 2022, and it fully recovered on January 11, 2024. Its worst calendar year was 2022, at -18.1%. Anyone selling shares to cover spending during that stretch would have sold at a loss.
OALC is not an income fund. The trailing yield was 0.53% as of October 27, 2026, paid once a year. Costs add up too. In the SEC's standard example, $10,000 would incur about $717 in costs 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 who want returns close to the S&P 500 while excluding companies tied to abortion, gambling, alcohol, tobacco, pornography or predatory lending.
- Long-term holders comfortable with a heavy technology tilt: about 37% in technology and NVIDIA at 7.6% as of May 31, 2026.
- Investors who accept that a screened, roughly 200-stock portfolio may trail the index, as in 2024: 19.91% versus 25.02%.
Look elsewhere if
- Cost-focused investors: Vanguard S&P 500 ETF (VOO) and iShares Core S&P 500 ETF (IVV) charge 0.03% a year, compared with OALC's 0.49%.
- Those needing regular income: the trailing yield was 0.53% as of October 27, 2026, paid only once a year.
- Investors who want a long track record or a large fund: OALC launched in November 2021 and had $242 million in net assets as of May 31, 2026.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| OALC this fund | — | 0.49% | $242.4M | +16.9% | +24.8% |
| IWL iShares Russell Top 200 ETF | 70% | 0.15% | $2.19B | +12.5% | +25.5% |
| SPY SPDR S&P 500 ETF Trust | 67% | 0.0945% | $781.19B | +11.5% | +21.9% |
| IVV iShares Core S&P 500 ETF | 67% | 0.03% | $888.13B | +11.5% | +22.0% |
| VOO Vanguard S&P 500 ETF | 67% | 0.03% | $1.67T | +12.4% | +23.6% |
| SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF | 66% | 0.2% | $2.74B | +12.6% | +24.8% |
| USPX Franklin U.S. Equity Index ETF | 66% | 0.03% | $1.98B | +12.9% | +24.9% |
| MGC Vanguard Mega Cap ETF | 66% | 0.07% | $10.90B | +13.5% | +26.0% |
Questions investors ask
What's the difference between OALC and VOO?
The main differences are the values screen and the cost. Vanguard S&P 500 ETF (VOO) holds the whole S&P 500 and charges 0.03% a year. OALC holds about 205 screened stocks and charges 0.49%. Recent SEC holdings reports show about 67% overlap between the two. OALC's price return was 16.9% for the year to October 27, 2026, versus 12.4% for VOO through October 30. But OALC trailed the S&P 500 from its launch through 2024.
What stocks does OALC exclude?
OALC avoids companies whose main business or practices involve abortion-related products or facilities, adult entertainment and pornography, gambling, tobacco, alcohol, cannabis, predatory lending, human rights violations or patterns of severe ethics controversies. OneAscent also considers ties to forced labor, products that cause physical harm and environmental mismanagement. The screen is proprietary, so investors can't check every decision against a public list. The adviser intends, but isn't required, to sell holdings that later fail the screen.
Does OALC beat the S&P 500?
Not over its full record through 2024. As of December 31, 2024, OALC returned 19.91% over one year and 6.19% a year since its November 2021 launch. The S&P 500, which carries no fees, returned 25.02% and 9.25%. Price-based figures through October 27, 2026, look different: OALC returned 16.9% over one year, compared with 12.4% for S&P 500 funds such as SPY. Over periods this short, results can swing either way.
Does OALC pay dividends?
Yes, but only once a year, and the payments are small. Over the 12 months to October 27, 2026, it paid about $0.22 per share, a trailing yield of 0.53%. Its large positions in technology companies such as NVIDIA and Microsoft, which tend to pay small dividends, help explain the low yield. Investors who need regular cash from their portfolio would likely need to sell shares or rely on other holdings.
What is OALC's expense ratio?
OALC's expense ratio is 0.49% a year, according to its prospectus filed December 23, 2025. That is the highest in its group of nine similar large-cap funds. The other eight average 0.08%, and VOO and IVV charge 0.03%. In the SEC's standard example, $10,000 earning 5% a year would cost about $50 in the first year and $717 over 10 years. The higher cost pays for the values screen and active management.