Clockwise Core Equity & Innovation ETF

Clockwise Core Equity & Innovation ETF (TIME) is an actively managed, concentrated fund of up to 50 U.S. stocks that aims to beat large U.S. companies over a full market cycle with smaller price swings. Its manager rotates among tech-heavy innovation names, steadier established firms and hedges, including funds built to rise when stocks fall. It costs 0.96% a year, above the 0.83% average for similar funds, and trades very heavily.

• Over the year to Oct 27, 2026, TIME returned +10.8%, 1st of 4 among similar funds.
• Its worst full calendar year was 2025 (+10.1%); its best was 2023 (+58.0%).
• The deepest fall in its price history was 37.2% (Apr 13, 2022 to Nov 9, 2022), recovered by Dec 13, 2023.

As of Aug 31, 2026, the fund held 40 securities; the ten largest made up 48.58% of assets.

By sector

• Over the three months to Aug 31, 2026, investors added a net $1.3M (creations minus redemptions, per the N-PORT report).
• Monthly total returns reported for that quarter: -2.42%, -0.94%, +1.48%.

TIME tracks no index; a sub-adviser picks holdings for issuer Tidal Financial Group. Its Market Score model reads market-cycle, liquidity and sentiment signals, adding risk when the U.S. economy expands and cutting it in slowdowns. Money rotates among three buckets: steadier “legacy” firms with consistent cash flow and lower prices relative to earnings; faster-growing innovation leaders in areas like artificial intelligence, power infrastructure and crypto-related businesses; and risk controls such as cash, short-term Treasuries, inverse ETFs and covered calls.

Stocks are scored on traits like profitability and growth potential. The fund averages about 30 positions, with a cap of 50, each sized at roughly 1% to 10% depending on the manager's confidence. It is non-diversified, so it can concentrate in fewer names. As of August 31, 2026, it had 40 holdings; the top 10 made up 48.6%, led by Apple (10.4%), NVIDIA (7.2%) and Microsoft (5.1%).

Covered calls trade away a held stock's gains above a set price for an upfront payment. The August 31, 2026 holdings report listed no options but two leveraged inverse funds that aim to rise when QQQ falls: ProShares UltraPro Short QQQ (3.8%) and ProShares UltraShort QQQ (2.9%). These typically reset daily, so longer-term results can stray from their target. Turnover, the share of the portfolio traded in a year, was 1,555%.

• TIME charges 0.96% a year, versus an average of 0.83% for the similar funds below (3rd of 4, cheapest first).
• Of that, 0.95% is the management fee; the rest covers other fund expenses.
• The fee includes a 0.06% waiver from the adviser, which may end.
• Using the prospectus's standard example, $10,000 invested would cost about $98 in the first year and $1,242 over 10 years (assuming a 5% annual return).

TIME is a concentrated, heavily traded, tech-heavy stock fund that fell 37.2% in 2022 and charges 0.96% a year, so it fits as a small add-on rather than a core holding.

TIME could add actively managed, tech-heavy growth with some hedging. Its price record starts April 6, 2022, missing the 2008 and 2020 crashes and the start of the 2022 slide. Still, it fell 37.2% from April 13 to November 9, 2022, regaining its peak only on December 13, 2023, about 13 months after the low. Its weakest full calendar year, 2025, was a 10.1% gain, though only 2023 to 2025 are on record. Drawing money from it during a drop like that would lock in a deep loss.

Income is slight: the yield was 0.69% as of October 27, 2026, paid once a year. At 0.96% a year, it costs $98 after one year and $1,242 over 10 years on $10,000, in the SEC's standard example assuming 5% annual returns. 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).