PHO and another niche ETF posted trading volumes more than double normal levels, drawing attention after a broad Wall Street rebound.
The Goldman Sachs Small Cap Equity ETF (GSC) returned 5.57% (based on NAV, net of fees) during the quarter, underperforming its benchmark – the Russell 2000 Index – by 682 basis points (bps). In the quarter, stock selection in Real Estate and our overweight position in Industrials contributed the most to relative returns, while stock selection in Information Technology and Health Care were most challenged. We initiated a position in Enpro Inc. (Buy), a company that designs, develops, manufactures, and markets proprietary engineered industrial products, during the quarter.
Increasing interest in active management has been a persistent trend in 2025. Still, the current momentum should continue to drive demand in 2026.
| Name | Quantity | Cost | Value | Profit ($) | Gain (%) |
|---|---|---|---|---|---|
| TC Tyler Chaisson COMPASS CAPITAL Corp. /MA/ /ADV | 52,754 | $2.81M | $3.54M | $725,780.15 | 25.82% |
Loni Adams Daymark Wealth Partners LLC | 7,000 | $353,298 | $472,395 | $119,097 | 33.71% |
Christopher C. Powers Farther Finance Advisors, LLC | 6,103 | $325,189 | $407,558.34 | $82,369.34 | 25.33% |
Ian Jameson American Capital Advisory, LLC | 9,268 | $433,927.67 | $625,450.98 | $191,523.31 | 44.14% |
Brady Green GGM Financials LLC | 28,028 | $1.51M | $1.89M | $386,447.89 | 25.68% |
| ARCA Exchange | US Country |
The fund is an investment vehicle targeting small-cap issuers, defined as companies with relatively small market capitalizations. It dedicates at least 80% of its net assets, in addition to any borrowings for investment purposes, to a portfolio of equity investments in these smaller companies. Operating with a non-diversified investment approach, the fund aims to leverage the growth potential of small-cap issuers, which often exhibit higher growth prospects compared to larger, more established companies. This investment strategy is predicated on the belief that small-cap stocks, despite their higher volatility, can yield significant returns over time.
As a focused investment fund, the services provided cater to investors looking to gain exposure to small-cap markets. The fund's products and services are tailored to facilitate investment in small-cap companies with the potential for high returns. Below is a detailed description of the fund’s primary investment service:
This service involves the allocation of at least 80% of the fund's net assets, including any borrowed funds, to equity investments in small-cap companies. By targeting companies with relatively small market capitalizations, the fund seeks to capitalize on the growth potential and higher return possibilities inherent in smaller, less-established companies. The focus on small-cap equities is based on a strategic assessment that these investments, despite their potential for higher volatility, offer substantial growth opportunities that can translate into significant returns for investors over time.