LHA Market State Tactical Beta ETFMSTB

1D 1M 3M YTD 1Y 3Y 5Y MAX

S&P 500 Compare

$42.04+1.0%

+$0.42 · Nov 6 close

Buy

AUM: $190M
Fee: 1.40%
Yield: 0.4%

Bumpy · 1Y: 0.9×S&P
Volume: 22K
NAV: $42.05

What's insideAll 11 →

SPY 76.5%

52-week range8% below the high

$37.38$45.54

Returns	1D	1M	3M	YTD	1Y	3Y	5Y	MAX
Total return	+1.0%	−5.4%	−5.3%	+5.3%	+4.3%	+67.6%	+38.1%	+78.8%
S&P 500 · VOO	+0.3%	−5.0%	−4.6%	+8.7%	+9.8%	+80.8%	+71.8%	—

MSTB in One Breath

MSTB Among Its Peers

YTD

#1MSTBLittle Harbor Advisors+5.3%$190M

End-of-day Nov 8, 2026 · 1 ETFs by YTD

$10,000 in MSTB

$10,000 in MSTB became

$13,806

In the S&P 500 (VOO)

$17,177

Total return, dividends in · Oct 29, 2021 – Nov 6, 2026 · S&P 500 uses VOO

MSTB’s Top Holdings

Today

SPYState Street SPDR S&P 500 ETF Trust76.5%10 more

SPYState Street SPDR S&P 500 ETF Trust76.5%Other

Financial Services

Little Harbor Advisors MSTB · 11 holdings · tile size = share of the fund · as of Nov 6, 2026

What MSTB Holds

Today

Technology39.8%

[…]

Financial Services76.5%

SPY 76.5

Communication Services9.8%

[…]

Healthcare9.3%

[…]

Consumer Cyclical8.8%

[…]

Industrials7.7%

[…]

Consumer Defensive4.4%

[…]

Little Harbor Advisors MSTB · share of the fund by sector · as of Nov 6, 2026

State’s Share of MSTB

Today

76.5%

$765 of every $1,000 in MSTB is State

State held by MSTB

$146M

Most State per dollar

EZMO33.8%

BSR25.5%

RHRX23.7%

GAL23.6%

Little Harbor Advisors MSTB · each square = $10 of $1,000 · as of Nov 6, 2026

MSTB’s Size vs Its Peers

Today

$190Mthe largest ETF

AUM · MSTB and the 0 largest peers · Nov 8, 2026

MSTB Fee per $100 vs Peers

Today

$1.40a year
per $100

$140 a year on $10,000

MSTB$1.40

Expense ratio · peers · Nov 8, 2026

Inside MSTB

1 holdings · as of Nov 6, 2026

MSTB

LHA Market State Tactical Beta ETF

Today

Technology39.8%Financial Services76.5%SPYState Street SPDR S&P 500 ETF Trust76.5%Communication Services9.8%Healthcare9.3%Consumer Cyclical8.8%Industrials7.7%Consumer Defensive4.4%

Technology39.8%Financial Services76.5%SPYState Street SPDR S&P 500 ETF Trust76.5%Communication Services9.8%Healthcare9.3%Consumer Cyclical8.8%Industrials7.7%

#	Ticker	Company		Weight ▼
1	SPY	State Street SPDR S&P 500 ETF Trust		76.51%

See all 11 holdings ↓

TechnologyFinancial ServicesCommunication ServicesHealthcareConsumer CyclicalIndustrialsConsumer DefensiveEnergyUtilitiesReal EstateBasic Materials

Little Harbor Advisors MSTB · current holdings by weight · as of Nov 6, 2026 · each tile is one holding

All MSTB Holdings

11 holdings · as of Nov 6, 2026

MSTB

MSTB’s Holdings

Today

#
1	SPYState Street SPDR S&P 500 ETF Trust	Financial Services	76.51%	$7,650.90	213K	$156.2M
2	—United States Treasury Bill 01/21/2027	—	6.00%	$599.66	12.3M	$12.2M
3	—First American Government Obligations Fund 12/01/2	—	4.65%	$464.92	9.5M	$9.5M
4	—First American Treasury Obligations Fund 01/01/204	—	4.65%	$464.92	9.5M	$9.5M
5	—CBOE VIX FUTURE Dec26	future	2.74%	$273.94	252	$5.6M
6	—CBOE VIX FUTURE Nov26	future	2.03%	$203.11	169	$4.1M
7	—S&P500 EMINI FUT Dec26	—	1.81%	$180.83	10	$3.7M
8	—Spxw US 11/09/26 P7465	—	0.99%	$99.22	125	$2.0M
9	—Cash & Other	—	0.58%	$57.73	1.2M	$1.2M
10	—Spxw US 11/05/26 P7440	—	0.06%	$6.14	15	$125K
11	—Spxw US 11/05/26 P7375	—	−0.01%	−$1.37	-15	−$28K

Little Harbor Advisors MSTB · every reported holding · per $10,000 = dollars of each holding in a $10,000 stake · as of Nov 6, 2026

How It Compares

MSTB

LHA Market State Tactical Beta ETF’s Peers

Today

MSTB has no close peers in our data yet: […]

Similar peers · Today’s and past-year returns · as of Nov 9, 2026 · sorted by AUM

Head to Head

MSTB vs VOO

YTD

MSTB · LHA Market State Tactical Beta

+5.3%

VOO · S&P 500

+8.7%

Gap

3.4 pts

Little Harbor Advisors MSTB and Vanguard VOO · Today total return · as of Nov 9, 2026

MSTB vs Its Peer Average

YTD

MSTBAvsBPeer average

1D+1.0%[…]

1M−5.4%[…]

3M−5.3%[…]

YTD+5.3%[…]

1Y+4.3%[…]

3Y+67.6%[…]

5Y+38.1%[…]

0–0level

0 peers · each row scaled to its leader

How Bumpy Is MSTB?

View

MSTB

How Bumpy

0.9×the S&P 500’s swings

CalmerBumpierS&P 1×MSTB

S&P 500 swings · 1Y13.6%

Little Harbor Advisors MSTB · daily swings over the past year vs the S&P 500

MSTB

Worst Drop

−7.8%from its Jan 12 high

Still below the high−5.9%

$10,000 at the high is now$9,410

Little Harbor Advisors MSTB · fall from the highest close, past year

MSTB

On a Bad Day

0.9×the S&P 500’s fall

MSTB’s worst day: Thursday, Nov 5

MSTB

−4.2%

S&P 500

−4.4%

Up days50 of every 100

S&P 500 up days52 of every 100

Little Harbor Advisors MSTB · average move on days the S&P 500 fell

MSTB

Return for the Bumps

#1MSTBLittle Harbor Advisors

No peers with a full year of prices to rank against yet.

Ranked by return above cash for each unit of bumpiness (Sharpe ratio) · cash = 3.8%

MSTB

Cost

Today

$140a year per $10,000

MSTB

$140

Expense ratio 1.40%, taken from the fund’s value

MSTB

Volatility & Beta

12.3%annual volatility

S&P 500 volatility13.6%

Downside volatility9.0%

Beta vs SPY0.86

Correlation vs SPY0.95

Daily total returns × √252 · past 254 trading days

MSTB

Max Drawdown

−7.8%peak to trough

Peak closeJan 12, 2026

Current drawdown−5.9%

Worst day−4.21% · Nov 5

Closing prices, dividends in

MSTB

Up / Down Capture

91%down capture vs SPY

Down days

91%

Up days

86%

S&P 500

100%

Up ÷ down capture0.94

Up days50.4% (S&P 52.0%)

Average daily move on SPY up days and down days

MSTB

Sharpe & Sortino vs Peers

Fund	Sharpe	Sortino	Volatility	Max DD	Beta	Fee / $10k
MSTB	−0.04	−0.06	12.3%	−7.8%	0.86	$140

Sharpe = (return − 3.8% cash) ÷ volatility · Sortino uses downside volatility only

MSTB

Trading

Today

−0.02%below its holdings’ value

Close$42.04

NAV$42.05

Fee per $10,000$140 a year

Avg. volume 30D9K shares

Premium / discount history starts once daily NAV is saved

Close vs net asset value, Nov 6

The Details

MSTB

Fund Facts

Today

2020launched Sep 30

Tracks[…]

Exchange · CUSIPCBOE · 26922B105

StructureETF

Leverage1x

Cost on $10,000$140 a year

Go deeper

Prospectus & documents Trading & liquidity Fees & costs Distributions

Little Harbor Advisors MSTB · fund facts · as of Nov 9, 2026

MSTB

Payouts by Year

$0.16per share, Dec 2025

Distribution yield0.4%

PaidOnce a year, in December

Latest ex-date · paidDec 30 · Dec 31, 2025

6 payouts added up$2.05 a share

Little Harbor Advisors MSTB · distributions by ex-date · 2020–2025

All Fund FactsDocuments · trading · fees · every payout

Prospectus & Documents

SEC reported portfolio · 2026-06-30 ↗SEC reported portfolio · 2026-03-31 ↗summary prospectus · SEC 497K ↗SEC reported portfolio · 2025-12-31 ↗SEC reported portfolio · 2025-09-30 ↗SEC reported portfolio · 2025-06-30 ↗

Trading & Liquidity

Net asset value$42.05

Premium / discount[…]

Median spread · 30D[…]

Volume today22K

Average volume · 30D9K

Shares outstanding[…]

Options[…]

Fees & Costs

Net expense ratio1.40%

Gross expense ratio[…]

Management fee[…]

Cost on $10,000 a year$140.00

Our risk indicator4/5

Estimated yearly cost excludes trading costs and assumes constant assets.

Distributions

Ex-date	Paid	Per share
Dec 30, 2025	Dec 31, 2025	$0.16
Dec 31, 2024	Jan 2, 2025	$0.32
Dec 14, 2023	Dec 18, 2023	$0.0468
Dec 15, 2022	Dec 19, 2022	$0.33
Dec 15, 2021	Dec 17, 2021	$0.71
Dec 30, 2020	Jan 4, 2021	$0.48

Issuer contentFrom Little Harbor AdvisorsHear the strategy from the people behind MSTB.No issuer videos have been published for this fund.Are you the issuer? Claim this fund →