PlanRock Alternative Growth ETF

PlanRock Alternative Growth ETF (PRAE) is an active fund of funds: it holds mostly other ETFs and uses a rules-based trend-following system to rotate among global stock market segments, adding futures that can bet on declines when markets trend down. It may appeal to investors who want growth with an attempt to sidestep weak markets, but it charges a 1.49% expense ratio and had just $12.4 million in assets as of June 30, 2026.

• Over the year to Oct 27, 2026, PRAE returned +14.6%, 1st of 8 among similar funds.
• Its worst full calendar year was 2024 (+8.5%); its best was 2025 (+13.7%).
• The deepest fall in its price history was 17.7% (Dec 4, 2024 to Apr 7, 2025), recovered by Sep 15, 2025.

As of Jun 30, 2026, the fund held 14 securities; the ten largest made up 66.83% of assets.

• Over the three months to Jun 30, 2026, investors added a net $1.2M (creations minus redemptions, per the N-PORT report).
• Monthly total returns reported for that quarter: +6.87%, +2.37%, -1.97%.

PRAE does not track an index. PlanRock Wealth Management applies its own rules-based system to decide what to own. The system combines trend following (favoring rising markets), momentum and valuation, and uses them to rotate among segments of the global stock market by company size, investing style, country (including emerging markets) or sector, while avoiding segments that are struggling. It favors widely traded ETFs, stocks and derivatives that broadly represent their markets. The stated goal is low correlation to stocks (not moving in step with them) with similar or lower volatility (price swings).

PRAE is a fund of funds, meaning it mostly owns other funds. As of June 30, 2026, those funds made up 78.09% of assets. The largest were an iShares Russell ETF (16.35%), an Invesco RAFI US ETF (7.45%) and an iShares MSCI EAFE ETF (6.58%). Some are leveraged or inverse, like ProShares UltraShort Gold (1.55%). PRAE also uses futures, which are agreements to trade an asset at a set price later. It holds futures on stock indexes, Treasury notes and currencies like the yen and euro, going long in uptrends and short (profiting from declines) in downtrends. Futures add leverage, which magnifies both gains and losses.

Trading is heavy. The prospectus filed January 28, 2026 reports 293% portfolio turnover, equal to replacing the whole portfolio nearly three times a year. That can add costs beyond the 1.49% expense ratio.

• PRAE charges 1.49% a year, versus an average of 0.86% for the similar funds below (8th of 8, cheapest first).
• Of that, 1.2% is the management fee; the rest covers other fund expenses.
• The fee includes a 2.5% waiver from the adviser, which may end.
• Using the prospectus's standard example, $10,000 invested would cost about $152 in the first year and $— over 10 years (assuming a 5% annual return).

It is a small, high-cost, heavily traded fund of funds that uses futures and some leveraged ETFs, with under three years of history and no major bear market behind it.

As a small part of a portfolio, PRAE could add a rules-based attempt to favor rising markets and avoid falling ones. But it launched in December 2023, so it missed the 2008 financial crisis, the 2020 COVID crash and the 2022 bear market. Its worst calendar year, 2024, still gained 8.06%. Its deepest drop was 17.7%, from December 4, 2024 to April 7, 2025. It regained its peak by September 15, 2025, about 5.3 months after the low. A retiree cashing out near that low would have locked in the loss.

It offers little income: the trailing 12-month yield was 0.45% as of October 27, 2026, paid twice a year. At 1.49% a year, costs are high: the SEC's standard example puts them at $152 on $10,000 in the first year. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.

Matched by other buffer (defined-outcome) funds, largest first.