ETF Evaluator:
Fundstrat Granny Shts US Lrg Cap &IncETF ()
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(as of Aug 26)
Best Performing in Derivative Income Over the Last Year
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ETF Details
Fundstrat Granny Shts US Lrg Cap &IncETF Overview
Fundstrat Granny Shts US Lrg Cap &IncETF (GRNI) is an actively managed Nontraditional Equity Derivative Income exchange-traded fund (ETF). Fundstrat launched the ETF in 2025.
The investment seeks to provide current income, with a secondary objective of long-term capital appreciation.
The fund, an actively-managed exchange-traded fund (“ETF”), primarily seeks to generate cash distributions through options strategies (the “Options Strategies”). Under normal market circumstances, it will invest at least 80% of its net assets (including any borrowings for investment purposes) in large-capitalization U.S. companies or derivatives instruments that provide exposure to those securities.
About Fundstrat Granny Shts US Lrg Cap &IncETF (GRNI)
There are 4 members of the management team with an average tenure of 0.70 years: Christopher Mullen (2025), Ken Xuan (2025), Thomas J. Lee (2025) and Scott Snyder (2025). Management tenure is more important for actively managed ETFs than passive index ETFs.
Fundstrat Granny Shts US Lrg Cap &IncETF has 141 securities in its portfolio. The top 10 holdings constitute 26.8% 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.
Fundstrat Granny Shts US Lrg Cap &IncETF is part of the Equity global asset class and is within the Nontraditional Equity ETF group. Fundstrat Granny Shts US Lrg Cap &IncETF has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 98.7% 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). Fundstrat Granny Shts US Lrg Cap &IncETF has 1.1% of the portfolio in cash.
Assets Under Management
The fund has $54 million in total assets, which is below the $727 million average for the Derivative Income 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.
GRNI 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 Fundstrat Granny Shts US Lrg Cap &IncETF expense ratio is high compared to funds in the Derivative Income category. Fundstrat Granny Shts US Lrg Cap &IncETF has an expense ratio of 0.99%, which is 19% higher than its category average, making the fund expense ratio grade a C. 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. Fundstrat Granny Shts US Lrg Cap &IncETF has a portfolio turnover rate of 0%, which indicates that it holds its assets around /years. By way of comparison, the average portfolio turnover is 69% for the Derivative Income category.
Recently, in the month of July 2026, Fundstrat Granny Shts US Lrg Cap &IncETF returned -2.1%, which earned it a grade of D, as the Derivative Income category had an average return of -1.5%. 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.
Fundstrat Granny Shts US Lrg Cap &IncETF has a trailing yield of 0.00%, which is below the 19.96% category average.
The fund normally distributes its income monthly 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.
Fundstrat Granny Shts US Lrg Cap &IncETF Grades
Year to date, the ETF has returned 7.7%, 5.1 percentage points better than the category, which translates into a grade of C.
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GRNI 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 |
|
| GRNI Return (NAV) | -2.1% | 1.0% | na | na | na | na |
| GRNI Return (Price) | -1.6% | 1.3% | na | na | na | na |
| NAV +/- Price Return | -0.417% | -0.249% | na | na | na | na |
| Derivative Income Avg | -1.5% | 0.6% | 11.2% | 13.7% | 8.8% | 7.5% |
| GRNI Grade (NAV) | D | D | na | na | na | na |
| +/- Category (NAV) | -0.5% | 0.4% | na | na | na | na |
| GRNI Tax-Cost Ratio | na | na | na | na | na | na |
GRNI Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| GRNI Return (NAV) | 7.7% | na | na | na | na | na | na | na | na | na | na |
| GRNI Return (Price) | 7.6% | na | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | -0.012% | na | na | na | na | na | na | na | na | na | na |
| Derivative Income Avg | 2.6% | 10.6% | 18.5% | 17.5% | -11.3% | 19.4% | 1.4% | 19.2% | -7.1% | 12.1% | 8.7% |
| GRNI Grade (NAV) | C | na | na | na | na | na | na | na | na | na | na |
| +/- Category | 5.1% | na | 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: | -- |
| Total Assets: | $ 55 Mil |
| Share Class Assets: | $ 55 Mil |
| Turnover: | na |
| Expense Ratio: | 0.99% |
| Index Fund: | No |
| Index Tracked: | N/A |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Monthly |
Management Team
| Number of Managers: 4 | |||
| Longest Tenure: 0.7 years | |||
| Average Tenure: 0.7 years | |||
| Managers (Year): Mullen Christopher (2025), Xuan Ken (2025), Lee Thomas J. (2025), Snyder Scott (2025) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 141 |
| % in Top 10 Holdings: | 26.8% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | 98.7% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.2% |
| Cash: | 1.1% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Fundstrat |
| Phone Number: | 844-954-5777 |
| Website: | |
| Inception Date: | November 17, 2025 |
Expenses and Fees
| Expense Ratio (%): | 0.99% (Rating: High) |
| Category Average Expense Ratio (%): | 0.83% |
