Data as of 8/25/2026
Holdings / Trading Style
~500 / Active
Positions
Long-Only
Expense Ratio
0.30%
Listing / Launch
CBOE / 2022
Morningstar Rating
Overall 3 Year Rating as of 7/31/2026
“Large Blend” Category (1,207 funds)
We invite everyone to answer a simple question — is any given company currently making your life better (or worse)? And we make a simple assumption — that you prefer to reward companies making your life better, and vice versa. Our fund actively trades on this idea, dynamically tilting holdings from approximately market cap-weighted starting points.
VOXP is designed as a diversified, near-beta1-one, core-equity vehicle where quantitative estimates of public preferences inform portfolio positions, rather than ESG agendas, partisan screens, or pure market-cap consensus.
Originally computed solely from data collected via a proprietary app, the VOXP trading signal now also uses frontier Large-Language Models to scan directly for preferences in individual social media posts. We then measure and invest in line with average preference estimates.
At meaningful scale, VOXP may function as:
For illustrative purposes only.
1 “Beta” refers to a portfolio's statistical correlation with the broader market; depending on specific definitions, “beta=1” generally means a portfolio that closely tracks the overall benchmark market.
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Performance data shown represents past performance and is no guarantee of, and not necessarily indicative of future results. Total return and value will vary and you may have a gain or loss when shares are sold. Current performance may be lower or higher than quoted. Returns include changes in share price and reinvestment of dividends and capital gains, if any.
Shares are bought and sold at market price, not net asset value (NAV). Market returns are based upon the midpoint of the bid/ask spread at 4:00 p.m. Eastern time. NAV represents the value of each share's portion of the fund's underlying assets and cash at the end of the trading day. Your returns may differ if you traded shares at other times.
| Net Asset Value | — |
| Daily Change | — (—) |
| Volume | — |
| Closing Price | — |
| Daily Change | — (—) |
| 30-Day Median Bid/Ask Spread | —% |
| Premium/Discount | — |
| Fund Inception | 11/4/2022 |
| Ticker | VOXP |
| Net Assets | — |
| Shares Outstanding | — |
| Primary Exchange | CBOE |
| CUSIP | 00770X253 |
| Fund Type | Active |
| Expense Ratio | 0.30% |
| Number of Holdings | — |
| Dividend Frequency | Annual |
| % of Net Assets | Name | Ticker | Identifier | Shares Held | Market Value |
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The Fund's investment objectives, risks, charges, and expenses must be considered carefully before investing. The prospectus contains this and other important information about the investment company and can be found towards the top of this web page. Please read carefully before investing.
Investing involves risk including possible loss of principal. The investment strategies, practices and risk analysis used by the Adviser may not produce the desired results. Other risks exist, including New Adviser Risk, Management Risk, Consumer Sentiment Risk, Research Risk, General Market Risk, Equity Securities Risk, High Portfolio Turnover Risk, general ETF Risks, New Fund Risk, and Sector Emphasis Risk, among others. Please see the detailed prospectus here for more details.
The Reverberate App is a web-based utility and currently has limited users. The ability of the App to properly and accurately gauge public sentiment is highly dependent on its ability to attain a high level of regular usage among a broad market segment of the population. If the Adviser (Distribution Cognizant, LLC) is unable to take material active positions due to lack of sufficient data or otherwise, the Fund will likely experience performance similar to the broad large capitalization market in general. In that event, the information provided by the App may not properly reflect sentiment regarding a company, leading the Adviser to take active positions in a company that are inconsistent with broad market sentiment. The investment strategy of relying entirely on general public sentiment as expressed on a web-based user app and social media polls in order to take active positions is novel. The strategy may not work and this may have a significant negative impact on the value of your investment.
The Adviser's strategy is to base its investment decisions on the expressions of sentiment as identified in the Reverberate App and X Polls. As a result, the Fund is subject to the risks, which may be substantial, that negative developments affecting a held company, the economy, or markets in general, may not be apparent to the users of the Reverberate App or poll respondents. Information received from the App or polls may be inaccurate, incomplete, misleading, duplicative or outdated, making the information ineffective for accurately gauging current sentiment. There is a possibility that users have an undisclosed agenda and attempt to manipulate a company's stock price. These potential developments could have a negative impact on the fund's portfolio.
Distributor: Quasar Distributors, LLC.
Morningstar RatingTM Disclosure. The Morningstar Rating for funds, or “star rating”, is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns.
The Vox Populi ETF (VOXP) was rated against 1,207 funds in the US Fund Large Blend category over the trailing three-year period. The Overall Morningstar Rating is based on three years of performance only. Past performance is no guarantee of future results.
© 2026 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.
