Variant Perception Cycle Aware US Equity ETFVPX

Variant PerceptionUS Stock StylesLarge Cap

$29.65

−0.5% last session

[…] YTD

Data as of 11/4/20264:00 PM ET · End-of-day

Dividend-adjusted total return · S&P 500 uses VOO · Mar 12, 2026 – Nov 4, 2026VPXS&P 500 · VOO

Returns	1D	1M	3M	YTD	1Y	3Y	5Y	MAX
Total return	−0.5%	−7.3%	−3.6%	—	—	—	—	+20.7%
Peer average	+1.1%	−1.2%	−0.5%	+12.3%	+13.1%	+76.8%	+60.9%	—
S&P 500 · VOO	+1.6%	−1.6%	0.0%	+13.4%	+13.5%	+91.7%	+81.2%	—

Key Statistics

Open all fund facts →

AUM: $65M
Expense ratio: 0.75%
Distribution yield: 0.0%
NAV: $29.82
Volume: 71K
Avg. volume 30D: 15K
High today: $30.03
Low today: $29.56
Previous close: $29.81
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+191.2%$96.0M

#2RSSYReturn Stacked+33.6%$101M

#3SMRIBushido+33.5%$703M

#4MAKXProShares+33.0%$4.9M

#5FLOWGlobal X+31.0%$36.5M

#6CSDInvesco+30.0%$209M

#7LSAFLeader Shares+29.9%$133M

#8EKGFirst Trust+29.2%$9.4M

#9IGEiShares+27.2%$810M

End-of-day Nov 5, 2026 · 263 Large cap ETFs by YTD

$10,000 in VPX

$10,000 in VPX became

$12,072

In the S&P 500 (VOO)

$11,606

Total return, dividends in · Mar 12, 2026 – Nov 4, 2026 · S&P 500 uses VOO

VPX’s Top Holdings

Today

NVDANvidia5.0%AAPL5.0%AVGO5.0%XOM3.9%CVX3.7%AMZN3.6%MSFT3.5%V3.2%JPM2.8%GOOGL2.6%MA2.5%MU2.4%META2.3%AMD2.1%COP1.6%CAT1.5%GEV1.4%DELL1.3%CSCO1.3%BAC1.2%MPC1.1%Other

NVDA5.0%AAPL5.0%AVGO5.0%XOM3.9%CVX3.7%AMZN3.6%MSFT3.5%V3.2%JPM2.8%GOOGLMA MUOther

TechnologyFinancial ServicesEnergyIndustrialsCommunication ServicesOther

Variant Perception VPX · 0 holdings · tile size = share of the fund · as of Nov 4, 2026

What VPX Holds

Today

Technology39.2%

NVDA 5.0 · AAPL 5.0 · AVGO 5.0 · MSFT 3.5 · MU 2.4 · AMD 2.1 · DELL 1.3

Financial Services19.8%

V 3.2 · JPM 2.8 · MA 2.5 · BAC 1.2 · MS · AXP · SCHW

Energy17.4%

XOM 3.9 · CVX 3.7 · COP 1.6 · MPC 1.1 · PSX 1.0 · VLO · EOG

Industrials12.1%

CAT 1.5 · GEV 1.4 · ETN · DE · LMT · VRT · GE

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 4, 2026

Nvidia’s Share of VPX

Today

5.0%

$50 of every $1,000 in VPX is Nvidia

Nvidia held by VPX

$3.2M

Most Nvidia per dollar

SMH20.6%

SMHX20.1%

GXPT19.9%

FDG19.0%

Variant Perception VPX · each square = $10 of $1,000 · as of Nov 4, 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 5, 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 5, 2026

Inside VPX

as of Nov 4, 2026

VPX

Variant Perception Cycle Aware US Equity ETF

Today

Technology39.2%NVDA5.0%AAPL5.0%AVGO5.0%MSFT3.5%MU AMD25 moreFinancial Services19.8%V3.2%JPMMA BAC20 moreEnergy17.4%XOM3.9%CVXCOPMPCPSXVLO12 moreIndustrials12.1%CATGEV9 moreCommunication Services10.8%GOOGLMETABasic Materials5.1%Consumer Cyclical3.9%AMZN

#	Ticker	Company	Weight ▼
1	NVDA	Nvidia	4.97%
2	AAPL	Apple	4.95%
3	AVGO	Broadcom	4.95%
4	XOM	ExxonMobil	3.93%
5	CVX	Chevron	3.73%
6	AMZN	Amazon	3.64%
7	MSFT	Microsoft	3.49%
8	V	Visa	3.19%
9	JPM	Jpmorgan Chase &	2.82%
10	GOOGL	Alphabet	2.64%

TechnologyFinancial ServicesEnergyIndustrialsCommunication ServicesBasic MaterialsConsumer CyclicalHealthcare

Variant Perception VPX · current holdings by weight · as of Nov 4, 2026 · each tile is one holding · top 20 = 55.9%

How It Compares

VPX

Variant Perception Cycle Aware US Equity ETF’s Peers

Today

		Trend
DFAC	DimensionalRead Desk		0.21%	+1.5%	+17.7%	$87.6B
IWB	iSharesRead Desk		0.15%	+1.5%	+13.2%	$47.8B
DIA	SPDRRead Desk		0.16%	+3.1%	+14.2%	$45.1B
DCOR	DimensionalRead Desk		0.17%	+1.4%	+17.4%	$45.0B
SCHB	SchwabRead Desk		0.03%	+1.5%	+13.3%	$44.0B
VPX	Variant PerceptionThis fundRead Desk	New fund	0.75%	−0.5%	new	$65M

Large cap peers · Today’s and past-year returns · as of Nov 5, 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

+15.8%

[…]

Level

Past year

+17.7%

[…]

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 5, 2026 · AUM not scored

VPX vs Its Peer Average

YTD

VPXAvsBPeer average

1D−0.5%+1.1%

1M−7.3%−1.2%

3M−3.6%−0.5%

YTD[…]+12.3%

1Y[…]+13.1%

3Y[…]+76.8%

5Y[…]+60.9%

0–3Peer 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

$29.65

$23.40−7.6% from the high$32.10

Variant Perception VPX · past-year price moves · as of Nov 5, 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 5, 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 today71K

Average volume · 30D15K

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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