ETF Evaluator:
Frontier Asset Global Sm Cp Eq ETF ()
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(as of Aug 26)
Best Performing in Global Small/Mid Stock Over the Last Year
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ETF Details
Frontier Asset Global Sm Cp Eq ETF Overview
Frontier Asset Global Sm Cp Eq ETF (FGSM) is an actively managed International Equity Global Small/Mid Stock exchange-traded fund (ETF). Frontier Asset Management, LLC launched the ETF in 2024.
The investment seeks to achieve long-term total return.
Under normal circumstances, the fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities of small-capitalization companies. Under normal circumstances, the fund invests in at least three countries, including the U.S., and invests at least 40% of its total assets in securities of non-U.S. companies, which may include emerging market countries.
About Frontier Asset Global Sm Cp Eq ETF (FGSM)
There are 3 members of the management team with an average tenure of 1.61 years: Clifford Stanton (2024), Ali Toyran (2024) and Paul Wright (2024). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: Morningstar DM All Cap TME NR USD index with a weighting of 100% and Morningstar DM Sml NR USD index with a weighting of 100%. Frontier Asset Global Sm Cp Eq ETF has 7 securities in its portfolio. The top 10 holdings constitute 99.9% 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.
Frontier Asset Global Sm Cp Eq ETF is part of the Equity global asset class and is within the International Equity ETF group. Frontier Asset Global Sm Cp Eq ETF has 41.9% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 57.8% There is 41.9% 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). Frontier Asset Global Sm Cp Eq ETF has 0.3% of the portfolio in cash.
Assets Under Management
The fund has $50 million in total assets, which is below the $286 million average for the Global Small/Mid Stock 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.
FGSM 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 Frontier Asset Global Sm Cp Eq ETF expense ratio is high compared to funds in the Global Small/Mid Stock category. Frontier Asset Global Sm Cp Eq ETF has an expense ratio of 0.82%, which is 20% higher than its category average, making the fund expense ratio grade a D. 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. Frontier Asset Global Sm Cp Eq ETF has a portfolio turnover rate of 5%, which indicates that it holds its assets around / 0.2 years. By way of comparison, the average portfolio turnover is 94% for the Global Small/Mid Stock category.
Recently, in the month of July 2026, Frontier Asset Global Sm Cp Eq ETF returned -0.5%, which earned it a grade of C, as the Global Small/Mid Stock category had an average return of -3.4%. 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.
Frontier Asset Global Sm Cp Eq ETF has a trailing yield of 1.29%, which is below the 1.65% category average.
The fund normally distributes its income quarterly 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.
Frontier Asset Global Sm Cp Eq ETF Grades
Year to date, the ETF has returned 15.9%, 3.4 percentage points better than the category, which translates into a grade of B. The fund has returned 29.1% over the past year (grade of B).
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FGSM Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| FGSM Return (NAV) | -0.5% | 3.5% | 29.1% | na | na | na |
| FGSM Return (Price) | -0.4% | 3.6% | 29.2% | na | na | na |
| NAV +/- Price Return | -0.039% | -0.077% | -0.096% | na | na | na |
| Global Small/Mid Stock Avg | -3.4% | -2.0% | 21.6% | 9.0% | -0.7% | 3.2% |
| FGSM Grade (NAV) | C | B | B | na | na | na |
| +/- Category (NAV) | 2.9% | 5.5% | 7.6% | na | na | na |
| FGSM Tax-Cost Ratio | na | na | 0.6% | na | na | na |
FGSM Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| FGSM Return (NAV) | 15.9% | 21.3% | na | na | na | na | na | na | na | na | na |
| FGSM Return (Price) | 16.0% | 21.3% | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | 0.002% | 0.000% | na | na | na | na | na | na | na | na | na |
| Global Small/Mid Stock Avg | 12.5% | 21.5% | 3.5% | 3.0% | -21.6% | 0.3% | 44.8% | 26.2% | -16.9% | 19.7% | 3.3% |
| FGSM Grade (NAV) | B | C | na | na | na | na | na | na | na | na | na |
| +/- Category | 3.4% | -0.2% | na | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | na |
| R-Squared: | na |
| Standard Deviation: | na |
| Category Risk Index: | na |
| Category Risk Rating: | |
| Total Risk Index: | na |
| Total Risk Rating: | |
| Portfolio Characteristics | |
| Yield: | 1.3% |
| Total Assets: | $ 51 Mil |
| Share Class Assets: | $ 51 Mil |
| Turnover: | 5.0% |
| Expense Ratio: | 0.82% |
| Index Fund: | No |
| Index Tracked: | Morningstar DM All Cap TME NR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Quarterly |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 1.6 years | |||
| Average Tenure: 1.6 years | |||
| Managers (Year): Stanton Clifford (2024), Toyran Ali (2024), Wright Paul (2024) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 7 |
| % in Top 10 Holdings: | 99.9% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 41.9% |
Portfolio Allocation |
|
| Domestic Stock: | 57.8% |
| Foreign Stock: | 41.9% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.3% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Frontier Asset Management, LLC |
| Phone Number: | 866-326-3837 |
| Website: | www.cipvt.com |
| Inception Date: | December 19, 2024 |
Expenses and Fees
| Expense Ratio (%): | 0.82% (Rating: High) |
| Category Average Expense Ratio (%): | 0.68% |
