OneAscent Small Cap Core ETF

OneAscent Small Cap Core ETF (OASC) is an actively managed fund that held 183 US small and mid-sized company stocks as of May 31, 2026. It aims to beat the Bloomberg US 2500 Total Return Index. It first removes companies tied to abortion, gambling, alcohol, tobacco and similar activities, then scores the rest on profitability and growth. Its 0.69% expense ratio is well above the 0.17% average of similar funds.

• Over the year to Oct 27, 2026, OASC returned +18.7%, 2nd of 7 among similar funds.
• Its worst full calendar year was 2025 (+8.9%); its best was 2025 (+8.9%).
• The deepest fall in its price history was 27% (Nov 25, 2024 to Apr 8, 2025), recovered by Dec 10, 2025.

As of May 31, 2026, the fund held 183 securities; the ten largest made up 17.46% of assets.

• Over the three months to May 31, 2026, investors added a net $3.3M (creations minus redemptions, per the N-PORT report).
• Monthly total returns reported for that quarter: -3.38%, +10.62%, +3.25%.

OASC does not copy an index. It is actively managed, which means its adviser, OneAscent Investment Solutions, picks the stocks. The goal is to beat the Bloomberg US 2500 Total Return Index, a benchmark of US small and mid-sized companies, before expenses. A company can be bought if its market value falls within that index's range at the time of first purchase. That range was $300 million to $2 billion as of August 31, 2025. At least 80% of net assets go into these stocks.

The first filter is a values-based screen. It removes companies linked to abortion, adult entertainment, gambling, tobacco, alcohol, cannabis, predatory lending, human rights violations or repeated serious ethics controversies. The screen is proprietary. If a holding later fails it, the adviser intends to sell, but is not required to.

Next, OneAscent's Corporate Lifecycle Screen ranks the companies that pass. It looks at return on invested capital (profit earned on the money put into the business) and how fast assets are growing. The fund targets about 200 stocks and a 2.5% tracking error, meaning its returns usually stay fairly close to the benchmark's. As of May 31, 2026, the largest holdings were Sandisk (2.8%), Clearway Energy (2.1%) and Flex (1.7%). The top ten made up 17.5% of the fund, and it held no derivatives. Portfolio turnover was 32%.

• OASC charges 0.69% a year, versus an average of 0.17% for the similar funds below (7th of 7, cheapest first).
• Of that, 0.35% is the management fee; the rest covers other fund expenses.
• The fee includes a 0.69% waiver from the adviser, which may end.
• Using the prospectus's standard example, $10,000 invested would cost about $70 in the first year and $1,597 over 10 years (assuming a 5% annual return).

OASC is a young, small, actively managed fund of small and mid-sized companies that charges far more than broad small-cap funds, so it fits better as a side position than as a foundation.

OASC could add values-screened exposure to smaller US companies alongside a portfolio built mainly on large companies. Its record is short. It launched June 13, 2024, so it missed the 2008, 2020 and 2022 downturns. Its only full calendar year, 2025, returned 8.9%. Its deepest drop was 27%, from November 25, 2024 to April 8, 2025. It took about eight months, until December 10, 2025, to recover. Anyone forced to sell near that low would have locked in the loss.

Income is small. The trailing yield was 0.46% as of October 27, 2026, paid once a year. Cost matters over time: the SEC's standard example puts expenses on $10,000 at $1,597 over 10 years. Past results don't predict future ones, and a plan should look at the whole portfolio, not one fund.

Matched by closest holdings overlap from the latest N-PORT reports (no similar fund shares 20% or more of its holdings).