Strategas Global Policy Opportunities ETF

Strategas Global Policy Opportunities ETF (SAGP) is an actively managed fund that holds about 100 U.S. and foreign stocks chosen for one trait: how heavily each company lobbies the U.S. federal government relative to its size. It ignores traditional financial measures such as profits or valuation. Costs are on the high side. The fund charges 0.65% a year, against a 0.48% average for the funds whose holdings overlap most with it.

• Over the year to Oct 27, 2026, SAGP returned +8.9%, 2nd of 7 among similar funds.
• Its worst full calendar year was 2023 (+11.3%); its best was 2025 (+23.0%).
• The deepest fall in its price history was 22.9% (Apr 4, 2022 to Sep 27, 2022), recovered by Feb 12, 2024.

As of Jun 30, 2026, the fund held 100 securities; the ten largest made up 21.71% of assets.

• Over the three months to Jun 30, 2026, investors added a net $6.0M (creations minus redemptions, per the N-PORT report).
• Monthly total returns reported for that quarter: +0.31%, +1.41%, +2.47%.

The adviser, Strategas Asset Management, starts with the companies in the S&P 500, S&P 1000 and MSCI All Country World indexes. It reads public filings made under the Lobbying Disclosure Act, a federal law that requires companies to report spending aimed at influencing the U.S. government. From those filings it gives each company a "lobbying intensity" score: lobbying spending scaled to the company's size. The score ignores which bills a company lobbies on, whether the lobbying works, and traditional financial measures. The adviser's view is that lobbying can shield a company from costly rules, shift costs onto rivals or win favorable decisions.

Next, the adviser splits the money among U.S. large, mid-size and small companies and non-U.S. large companies. It also tilts toward value or growth stocks. These choices reflect its tactical views on which areas the market favors. Within each slice it buys the highest-scoring companies, generally 100 stocks in total. Under normal conditions the fund holds at least three countries and puts at least 40% of total assets in non-U.S. companies, or at least 30% when conditions are not favorable. It may own emerging market stocks.

Scores are reviewed every quarter as new lobbying filings arrive, and portfolio turnover was 70%. Vident Asset Management, the sub-adviser, handles trading. As of June 30, 2026, the largest holdings were Teradyne (2.6%), Axon Enterprise (2.3%) and Stanley Black & Decker (2.3%), and the top 10 made up 21.7% of assets. The fund held no derivatives.

• SAGP charges 0.65% a year, versus an average of 0.48% for the similar funds below (7th of 7, cheapest first).
• Using the prospectus's standard example, $10,000 invested would cost about $66 in the first year and $810 over 10 years (assuming a 5% annual return).

SAGP is a small, higher-cost fund that picks stocks using one unconventional measure, so it fits best as a modest add-on beside broad core holdings.

SAGP offers a stock mix chosen on something other than company size or earnings, and about four in ten dollars sat outside the U.S. as of June 30, 2026. Its track record is short. It launched on January 26, 2022, after the market's January 2022 peak, so it has no history through the 2008 or 2020 crashes. Its deepest drop was 22.9%, from April 4 to September 27, 2022. It took 16.5 months from that low to recover, on February 12, 2024. Anyone who had to sell in late 2022 would have locked in that loss. Every full calendar year so far has been a gain; the weakest was 2023, up 11.62%. The trailing yield was 3.05% as of October 27, 2026, paid twice a year. The SEC's cost example is $66 in year one on $10,000. Past results don't predict the future, 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).