Segall Bryant & Hamill Select Equity ETF

Segall Bryant & Hamill Select Equity ETF (USSE) is an actively managed fund. As of June 30, 2026, it held just 20 U.S.-traded stocks, led by Alphabet, Palo Alto Networks and ATI. It costs 0.65% a year, above the 0.48% average of similar funds, and it trades heavily, with 150% portfolio turnover. It paid no dividends in the year to October 27, 2026, so its appeal rests on the manager's stock picking.

• Over the year to Oct 27, 2026, USSE returned +17.6%, 1st of 9 among similar funds.
• Its worst full calendar year was 2025 (+2.5%); its best was 2024 (+24.5%).
• The deepest fall in its price history was 22.4% (Jan 23, 2025 to Apr 8, 2025), recovered by Oct 29, 2025.

As of Jun 30, 2026, the fund held 20 securities; the ten largest made up 57.38% of assets.

By sector

• Over the three months to Jun 30, 2026, investors withdrew a net $6.7M (creations minus redemptions, per the N-PORT report).
• Monthly total returns reported for that quarter: +13.31%, +5.18%, +1.84%.

USSE does not track an index. Its manager, Segall Bryant & Hamill, puts at least 80% of net assets in companies whose stock trades on U.S. markets. That can include ADRs (American depositary receipts), which are U.S.-listed certificates for shares of foreign companies. The manager does not limit itself to growth or value stocks. It looks for companies it believes can grow faster than average but trade below its estimate of their intrinsic value, meaning what the business is really worth. It picks them using financial screens, company research and its own judgment.

The portfolio is concentrated. The fund is classified as "non-diversified," so it can put more money in fewer companies. As of June 30, 2026, it held 20 stocks, and the top 10 made up 57.4% of assets. The largest were Alphabet (6.9%), Palo Alto Networks (6.9%), ATI (6.8%) and Nvidia (6.4%). Technology was by far the largest sector, at roughly half of the holdings with sector data.

The fund sells a stock when the company's prospects change, the price reaches the manager's target, or a better idea comes along. Turnover was 150%, so the fund traded about 1.5 times the value of its portfolio in a year. That means higher trading costs and possibly more taxable gains. The fund uses no derivatives or leverage. It trades on NYSE Arca, and its market price can sometimes differ from its net asset value.

• USSE charges 0.65% a year, versus an average of 0.48% for the similar funds below (8th of 9, cheapest first).
• Of that, 0.55% is the management fee; the rest covers other fund expenses.
• The fee includes a 0.02% waiver from the adviser, which may end.
• Using the prospectus's standard example, $10,000 invested would cost about $66 in the first year and $833 over 10 years (assuming a 5% annual return).

It is a concentrated, tech-heavy 20-stock portfolio with a short record, a beta of 1.15 and no income, so it fits better as a small add-on than as a foundation.

USSE could add a concentrated bet on one manager's stock picks next to broad, low-cost funds. It launched on August 29, 2023, so it has no record from the 2008, 2020 or 2022 sell-offs. Its deepest drop was 22.4%, from January 23 to April 8, 2025. It took about 6.7 months to recover, by October 29, 2025. Its weakest calendar year, 2025, returned 2.41%, while the Russell 1000 returned 17.37%. Anyone who needed to sell during that slump would have locked in losses. The fund paid no dividends in the year to October 27, 2026, so any cash would have to come from selling shares. At 0.65% a year, the SEC's standard example puts costs at $833 on $10,000 over 10 years. Past results don't predict future returns, and a plan should look at the whole portfolio, not one fund.

Matched by holdings overlap from the latest N-PORT reports.