ETF Evaluator: Pinnacle Focused Opportunities ETF (FCUS) Follow This ETF

Pinnacle Focused Opportunities ETF Overview

Pinnacle Focused Opportunities ETF (FCUS) is an actively managed U.S. Equity Mid-Cap Growth exchange-traded fund (ETF). Pinnacle launched the ETF in 2022.

The investment seeks long term capital appreciation. The fund is an actively managed exchange-traded fund (“ETF”) that seeks to achieve its investment objective primarily by investing in a focused portfolio of U.S. equity securities. The fund's manager manages its portfolio based on its proprietary model. The fund’s portfolio excludes certain equity securities, such as limited partnerships, closed-end investment companies, and warrants.

About Pinnacle Focused Opportunities ETF (FCUS)

There are 3 members of the management team with an average tenure of 1.59 years: Paul Carroll (2022), Andrew (Andy) Hicks (2026) and Qiao Duan (2026). Management tenure is more important for actively managed ETFs than passive index ETFs.

The ETF has 1 primary benchmark: Russell 1000 TR USD index with a weighting of 100%. Pinnacle Focused Opportunities ETF has 33 securities in its portfolio. The top 10 holdings constitute 40.8% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.

Pinnacle Focused Opportunities ETF is part of the Equity global asset class and is within the U.S. Equity ETF group. Pinnacle Focused Opportunities ETF has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 96.3% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Pinnacle Focused Opportunities ETF has 4.9% of the portfolio in cash.

Assets Under Management

The fund has $89 million in total assets, which is below the $1 billion average for the Mid-Cap Growth category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.

FCUS Performance and Fees

The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Pinnacle Focused Opportunities ETF expense ratio is high compared to funds in the Mid-Cap Growth category. Pinnacle Focused Opportunities ETF has an expense ratio of 0.80%, which is 51% higher than its category average, making the fund expense ratio grade a F. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.

High portfolio turnover can translate to higher expenses and lower aftertax returns. Pinnacle Focused Opportunities ETF has a portfolio turnover rate of 528%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 163% for the Mid-Cap Growth category.

Recently, in the month of September 2026, Pinnacle Focused Opportunities ETF returned 14.6%, which earned it a grade of A, as the Mid-Cap Growth category had an average return of -1.9%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.

Pinnacle Focused Opportunities ETF has a trailing yield of 1.00%, which is above the 0.39% category average. The fund normally distributes its income annually and its capital gains annually.

It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.

Pinnacle Focused Opportunities ETF Grades

Year to date, the ETF has returned 34.8%, 25.4 percentage points better than the category, which translates into a grade of A. The fund has returned 38.4% over the past year (grade of A) and 31.3% over the past three years (grade of A).

Pinnacle Focused Opportunities ETF Risk

A basic investment concept is that risk should be rewarded. Standard deviation measures the degree of variation in return experienced relative to the average return for an ETF. It notes the recent volatility of the ETF but does not explain the elements impacting the volatility. For example, portfolio concentration or exposure to foreign investments can impact the volatility and should be examined to gain an understanding of the ETF.

The total risk index relates the volatility of the ETF to the volatility of all ETFs. It can help you understand the volatility of an ETF across all categories. Ratios above 1.00 indicate higher risk than average. Pinnacle Focused Opportunities ETF has a high total risk index of 2.66 because of its standard deviation of 32.1%.

The category risk index relates the volatility of an ETF to the average volatility for ETFs in the same investment category. Pinnacle Focused Opportunities ETF has a high category risk of 1.50, giving it a category risk grade of F. Letter grades of A, B, C, D and F are based upon these relative rankings.