At a glance
THIR charges 0.69% a year, below the 0.86% average of the 7 funds most like it (the cheapest of 8). It has $205.6M in assets, the 8th largest of that group; it paid 0.33% of its price in distributions over the past 12 months, annual. Over the past year it returned +4.2% with distributions reinvested (S&P 500: +11.5%), the weakest of those 8 funds.
The short version
THOR Index Rotation ETF (THIR) is a fund of funds that tracks the THOR SDQ Rotation Index. Each week, the index shifts money among ETFs that follow the S&P 500, the Dow Jones Industrial Index and the Nasdaq-100. When their price trends turn down, it moves toward cash-like funds. What sets it apart is this rules-based attempt to step aside in falling markets, at a 0.69% expense ratio, with a record dating only to September 2024.
Price history
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THIR +4.2% 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 | |
|---|---|---|---|---|---|---|
| THIR price data to Oct 27, 2026 | +4.5% | +4.2% | — | — | — | +15.5% |
- Over the year to Oct 27, 2026, THIR returned +4.2%, 8th of 8 among similar funds.
- Its worst full calendar year was 2025 (+25.2%); its best was 2025 (+25.2%).
- The deepest fall in its price history was 10.1% (Feb 19, 2025 to Apr 21, 2025), recovered by May 12, 2025.
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +4.5% |
| 2025 | +25.2% |
| 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
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2025 | $0.1100 |
What's inside
As of Aug 31, 2026, the fund held 3 securities; the ten largest made up 100.07% of assets.
| Fund held | Weight | |
|---|---|---|
| SS S&P 500 ET-US | 50.18% | |
| SS SPDR DJIA ETF | 48.91% | |
| SPDR BLOOMBERG 1 | 0.98% |
By country
United States 100.07%By asset type
Stocks 100.07%What changed recently
- Over the three months to Aug 31, 2026, investors withdrew a net $9.2M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: -0.69%, -2.64%, +2.03%.
How it works
The fund tracks the THOR SDQ Rotation Index. The fund's adviser, THOR Analytics, LLC (doing business as THOR Financial Technologies), built and owns the index, and Solactive AG calculates it. Once a week, a proprietary algorithm looks at the price trends and past volatility of three U.S. index ETFs over the previous three to six months. Those ETFs track the S&P 500, the Dow Jones Industrial Index and the Nasdaq-100. Each one gets a "risk on" signal (hold) or a "risk off" signal (exit).
If all three are risk on, each gets one-third of the money. If one is risk off, the other two split it equally, with no more than 50% in either. If only one is risk on, it gets 50% and the rest goes to cash. Money not in the stock ETFs goes to U.S. money market funds, cash alternatives or other ETFs. During long market declines, the index can hold nothing else. The fund aims to own the same holdings in the same proportions as the index.
As of August 31, 2026, the fund held three positions: the SPDR S&P 500 ETF (about 50.2%), the SPDR DJIA ETF (about 48.9%) and a SPDR Bloomberg fund (about 1%). The Nasdaq-100 fund was not held. Weekly rebalancing led to 276% portfolio turnover, so trading inside the fund is heavy. Trend signals also react after the fact, which means the fund can exit after a fall and buy back in after a rebound.
What it really costs
- THIR charges 0.69% a year, versus an average of 0.86% for the similar funds below (1st of 8, cheapest first).
- Of that, 0.55% is the management fee; the rest covers other fund expenses.
- Using the prospectus's standard example, $10,000 invested would cost about $70 in the first year and $859 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| THIR | $70 | $221 | $384 | $859 |
Structure and tax notes
- Invests in other funds rather than directly in stocks or bonds, so its holdings are those funds.
In a retirement portfolio
It is a tactical, signal-driven stock fund with less than three years of history, so it fits better as a small add-on than as a foundation.
THIR offers a rules-based way to own U.S. large-company stocks while trying to sidestep downtrends. Its record is short. The fund launched September 24, 2024, so it did not exist during the 2008, 2020 or 2022 bear markets. Its only full calendar year, 2025, returned 25.2%. Its deepest drop was 10.1%, from February 19 to April 21, 2025, and it had recovered by May 12, 2025. Someone who may need to sell shares in a bad year has little evidence of how its signals would hold up in a long bear market. Its one-year return was 4.2% as of October 27, 2026, which trailed the buffer ETFs it is often grouped with.
The fund pays little income: a 0.33% trailing yield, paid once a year. Under the SEC's standard $10,000 example, costs come to $70 after one year and $859 after ten 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 wanting U.S. large-company stock exposure through rules that move toward cash-like funds when S&P 500, Dow or Nasdaq-100 trends weaken.
- People who prefer a weekly, rules-based signal to a manager's judgment calls, and who accept 276% portfolio turnover.
- Those comfortable keeping a small position in a fund launched in September 2024 that charges a 0.69% expense ratio.
Look elsewhere if
- Investors seeking income: the trailing yield was 0.33% as of October 27, 2026, paid once a year.
- Anyone wanting a long track record through bear markets; the fund launched after the 2008, 2020 and 2022 declines.
- Those wanting an options-based downside buffer; THIR returned 4.2% over one year versus 9.5% to 12.9% for the listed buffer ETFs.
Close alternatives
Matched by other buffer (defined-outcome) funds, largest first.
| Fund | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|
| THIR this fund | 0.69% | $205.6M | +4.2% | — |
| BUFR FT Vest Laddered Buffer ETF | 0.95% | $10.49B | +11.6% | +16.8% |
| BUFD FT Vest Laddered Deep Buffer ETF | 0.95% | $2.04B | +9.5% | +13.9% |
| PJAN Innovator U.S. Equity Power Buffer ETF - Ja… | 0.79% | $1.44B | +10.5% | +14.8% |
| PDEC Innovator U.S. Equity Power Buffer ETF - De… | 0.79% | $984.1M | +11.6% | +14.9% |
| FDEC FT Vest US Equity Buffer ETF - December | 0.85% | $1.31B | +12.9% | +18.5% |
| FJAN FT Vest US Equity Buffer ETF - January | 0.85% | $1.47B | +12.3% | +17.4% |
| FFEB FT Vest U.S. Equity Buffer Fund - February | 0.85% | $1.42B | +12.9% | +18.6% |
Questions investors ask
What does THIR ETF hold?
THIR holds other ETFs, not individual stocks. As of August 31, 2026, it had three positions: the SPDR S&P 500 ETF at about 50.2%, the SPDR DJIA ETF at about 48.9% and a SPDR Bloomberg fund at about 1%. A Nasdaq-100 fund, the third index it can rotate into, was not held on that date. The mix can change every week as the index's trend signals turn on or off.
Is THIR good for retirement?
THIR may suit a small part of a retirement portfolio for investors who want stock exposure with rules designed to step aside in downtrends. It has drawbacks. It launched in September 2024, so it has never been through a major bear market. It yields only 0.33% (as of October 27, 2026), and its 276% turnover reflects frequent trading. Its deepest drop so far was 10.1%, in early 2025. It recovered within about a month.
What is the THIR expense ratio?
THIR's expense ratio is 0.69%, according to its prospectus filed December 23, 2025. That includes a 0.55% management fee. Under the SEC's standard example ($10,000 invested, 5% yearly return), costs total $70 after one year, $221 after three, $384 after five and $859 after ten. That is below the 0.86% average for the buffer ETFs it is often grouped with, though those funds use a different, options-based approach.
Does THIR pay dividends?
Yes, but only a little, and only once a year. As of October 27, 2026, its trailing 12-month yield was 0.33%, or about $0.11 per share. The fund passes along income from the ETFs it owns. The SPDR stock ETFs it held as of August 31, 2026, pay modest dividends, and the trend strategy can move part of the money into cash-like funds. THIR is not designed as an income fund.
THIR vs BUFR: what's the difference?
They limit risk in different ways. BUFR, the FT Vest Laddered Buffer ETF, is a defined-outcome fund. Funds like it generally use options to absorb part of a market loss in exchange for a cap on gains. THIR uses no options; it moves among stock index ETFs and cash-like funds based on trend signals. THIR costs 0.69% versus BUFR's 0.95%. As of October 27, 2026, THIR's one-year return was 4.2% versus BUFR's 11.6%.