Variant Perception Cycle Aware US Equity ETFVPX

Variant PerceptionUS Stock StylesLarge Cap

$29.81

+0.8% last session

[…] YTD

Data as of 11/3/20264:00 PM ET · End-of-day

Dividend-adjusted total return · Mar 12, 2026 – Nov 3, 2026VPX

Returns	1D	1M	3M	YTD	1Y	3Y	5Y	MAX
Total return	+0.8%	−6.2%	−3.5%	—	—	—	—	+21.4%
Peer average	+0.2%	−1.7%	−1.7%	+11.3%	+12.0%	+76.2%	+57.5%	—
S&P 500 · VOO	+0.3%	−2.6%	−1.7%	+11.5%	+11.9%	+90.9%	+77.5%	—

Key Statistics

Open all fund facts →

AUM: $65M
Expense ratio: 0.75%
Distribution yield: 0.0%
NAV: $29.82
Volume: 6K
Avg. volume 30D: 13K
High today: $29.89
Low today: $29.80
Previous close: $29.56
52-week high: $32.10
52-week low: $23.40
Our risk indicator: 4/5

VPX in One Breath

VPX Among Large Cap ETFs

YTD

#1NRGUREX Microsectors+252.7%$96.0M

#2RSSYReturn Stacked+34.7%$101M

#3MAKXProShares+33.0%$4.9M

#4SMRIBushido+31.2%$703M

#5CSDInvesco+30.9%$209M

#6IGEiShares+29.9%$810M

#7IEZiShares+29.0%$376M

#8FLOWGlobal X+28.2%$36.5M

#9FITESPDR+27.9%$151M

End-of-day Nov 4, 2026 · 263 Large cap ETFs by YTD

$10,000 in VPX

$10,000 in VPX became

$12,138

In the S&P 500 (VOO)

$11,421

Total return, dividends in · Mar 12, 2026 – Nov 3, 2026 · S&P 500 uses VOO

VPX’s Top Holdings

Today

AAPLApple5.1%NVDA4.9%AVGO4.8%XOM4.0%CVX3.8%AMZN3.6%MSFT3.4%V3.3%JPM2.9%GOOGL2.6%MA2.5%MU2.4%META2.3%AMD2.1%COP1.7%CAT1.5%GEV1.3%CSCO1.3%BAC1.2%DELL1.2%MPC1.1%Other

AAPL5.1%NVDA4.9%AVGO4.8%XOM4.0%CVX3.8%AMZN3.6%MSFT3.4%V3.3%JPM2.9%GOOGLMA MUOther

TechnologyFinancial ServicesEnergyIndustrialsCommunication ServicesOther

Variant Perception VPX · 0 holdings · tile size = share of the fund · as of Nov 3, 2026

What VPX Holds

Today

Technology38.7%

AAPL 5.1 · NVDA 4.9 · AVGO 4.8 · MSFT 3.4 · MU 2.4 · AMD 2.1 · CSCO 1.3

Financial Services20.4%

V 3.3 · JPM 2.9 · MA 2.5 · BAC 1.2 · MS · AXP · SCHW

Energy17.4%

XOM 4.0 · CVX 3.8 · COP 1.7 · MPC 1.1 · PSX 1.0 · VLO · EOG

Industrials12.1%

CAT 1.5 · GEV 1.3 · ETN · DE · LMT · GE · UNP

Communication Services10.8%

GOOGL 2.6 · META 2.3 · NFLX · TMUS · VZ · T

Basic Materials5.1%

JCI

Consumer Cyclical3.9%

AMZN 3.6 · HD

Variant Perception VPX · share of the fund by sector · as of Nov 3, 2026

Apple’s Share of VPX

Today

5.1%

$51 of every $1,000 in VPX is Apple

Apple held by VPX

$3.3M

Most Apple per dollar

GXPT20.8%

FTEC17.9%

IYW17.4%

MNZL16.6%

Variant Perception VPX · each square = $10 of $1,000 · as of Nov 3, 2026

VPX’s Share of Large Cap ETFs

Today

0.0%

of the $850B in 307 Large cap ETFs

VPX$64.8M0.0%

DFAC$87.6B10.3%

IWB$47.8B5.6%

304 others$715B84.1%

Large cap ETF AUM · Nov 4, 2026

VPX Fee per $100 vs Peers

Today

$0.75a year
per $100

$75 a year on $10,000

SCHB$0.03

IWB$0.15

DIA$0.16

DCOR$0.17

DFAC$0.21

VPX$0.75

Expense ratio · Large cap peers · Nov 4, 2026

Inside VPX

as of Nov 3, 2026

VPX

Variant Perception Cycle Aware US Equity ETF

Today

Technology38.7%AAPL5.1%NVDA4.9%AVGO4.8%MSFTMU AMD25 moreFinancial Services20.4%V3.3%JPMMA BAC21 moreEnergy17.4%XOM4.0%CVXCOPMPCPSXVLO11 moreIndustrials12.1%CATGEV9 moreCommunication Services10.8%GOOGLMETABasic Materials5.1%Consumer Cyclical3.9%AMZN

#	Ticker	Company	Weight ▼
1	AAPL	Apple	5.09%
2	NVDA	Nvidia	4.91%
3	AVGO	Broadcom	4.84%
4	XOM	ExxonMobil	4.02%
5	CVX	Chevron	3.82%
6	AMZN	Amazon	3.60%
7	MSFT	Microsoft	3.43%
8	V	Visa	3.27%
9	JPM	Jpmorgan Chase &	2.87%
10	GOOGL	Alphabet	2.65%

TechnologyFinancial ServicesEnergyIndustrialsCommunication ServicesBasic MaterialsConsumer CyclicalHealthcare

Variant Perception VPX · current holdings by weight · as of Nov 3, 2026 · each tile is one holding · top 20 = 55.9%

How It Compares

VPX

Variant Perception Cycle Aware US Equity ETF’s Peers

YTD

		Trend
DFAC	DimensionalRead Desk		0.21%	+14.1%	+16.0%	$87.6B
IWB	iSharesRead Desk		0.15%	+11.3%	+11.6%	$47.8B
DIA	SPDRRead Desk		0.16%	+8.8%	+10.3%	$45.1B
DCOR	DimensionalRead Desk		0.17%	+14.2%	+15.7%	$45.0B
SCHB	SchwabRead Desk		0.03%	+11.6%	+11.7%	$44.0B
VPX	Variant PerceptionThis fundRead Desk	New fund	0.75%	new	new	$65M

Large cap peers · YTD and past-year returns · as of Nov 4, 2026 · sorted by AUM

Head to Head

Put VPX head to head with DFAC →

DFAC vs VPX

YTD

DFACDimensional · Large capVPXVariant Perception · Large cap

Year to date

+14.1%

[…]

Level

Past year

+16.0%

[…]

Level

Fee

0.21%

0.75%

DFAC winslower fee

Yield

0.9%

0.0%

DFAC wins+0.9 pts

AUM

$87.6B

$64.8M

DFAC1351.5× more

2–0DFAC wins

Dimensional DFAC and Variant Perception VPX · year-to-date · as of Nov 4, 2026 · AUM not scored

VPX vs Its Peer Average

YTD

VPXAvsBPeer average

1D+0.8%+0.2%

1M−6.2%−1.7%

3M−3.5%−1.7%

YTD[…]+11.3%

1Y[…]+12.0%

3Y[…]+76.2%

5Y[…]+57.5%

1–2Peer average wins

306 Large cap peers · each row scaled to its leader

The Details

VPX

Risk

4/5our risk indicator

CalmerBumpier

Volatility · 1Y[…]

Deepest drop · 1Y[…]

Lowest point · 5Y−4.7%

52-week range

$29.81

$23.40−7.1% from the high$32.10

Variant Perception VPX · past-year price moves · as of Nov 4, 2026

VPX

Fund Facts

Today

2026launched Mar 11

Tracks[…]

Exchange · CUSIPAMEX · 02072Q267

StructureETF

Leverage1x

Cost on $10,000$75 a year

Go deeper

Prospectus & documents Trading & liquidity Fees & costs Distributions

Variant Perception VPX · fund facts · as of Nov 4, 2026

VPX

Payouts by Year

Today

$0no payouts on record

VPX does not pay a distribution.

Distribution yield0.0%

Paid[…]

Latest ex-date · paid[…]

12 payouts added up[…]

Variant Perception VPX · distributions by ex-date

All Fund FactsDocuments · trading · fees · every payout

Prospectus & Documents

SEC reported portfolio · 2026-08-31 ↗SEC reported portfolio · 2026-05-29 ↗prospectus · SEC 497 ↗summary prospectus · SEC 497K ↗prospectus · SEC 485BPOS ↗summary prospectus · SEC 497K ↗

Trading & Liquidity

Net asset value$29.82

Premium / discount[…]

Median spread · 30D[…]

Volume today6K

Average volume · 30D13K

Shares outstanding[…]

Options[…]

Fees & Costs

Net expense ratio0.75%

Gross expense ratio[…]

Management fee[…]

Cost on $10,000 a year$75.00

Our risk indicator4/5

Estimated yearly cost excludes trading costs and assumes constant assets.

Distributions

No payouts on record: […]

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