ETF Evaluator:
Fundstrat Granny Shts US Sm- &Mid-CapETF ()
Follow This ETF
(as of Aug 26)
Best Performing in Mid-Cap Blend Over the Last Year
| 58.8% | Castellan Targeted Equity ETF (CTEF) |
| 53.8% | Invesco S&P Spin-Off ETF (CSD) |
| 43.0% | Counterpoint Quantitative Equity ETF (CPAI) |
| 40.8% | Optimize Strategy Index ETF (OPTZ) |
| 37.3% | Tema U.S. Manufacturing & Reshoring ETF (WELD) |
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Risk
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ETF Details
Fundstrat Granny Shts US Sm- &Mid-CapETF Overview
Fundstrat Granny Shts US Sm- &Mid-CapETF (GRNJ) is an actively managed U.S. Equity Mid-Cap Blend exchange-traded fund (ETF). Fundstrat launched the ETF in 2025.
The investment seeks long-term capital appreciation.
The fund, an actively-managed exchange-traded fund (“ETF”), seeks to achieve its investment objective by investing in U.S. small- & mid-capitalization equity securities. Under normal market circumstances, it will invest at least 80% of its net assets (including any borrowings for investment purposes) in small- and mid-capitalization U.S. companies.
About Fundstrat Granny Shts US Sm- &Mid-CapETF (GRNJ)
There are 4 members of the management team with an average tenure of 0.56 years: Qiao Duan (2025), Ken Xuan (2025), Stephen Foy (2026) and Thomas J. Lee (2025). Management tenure is more important for actively managed ETFs than passive index ETFs.
Fundstrat Granny Shts US Sm- &Mid-CapETF has 64 securities in its portfolio. The top 10 holdings constitute 22.4% 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 Sm- &Mid-CapETF is part of the Equity global asset class and is within the U.S. Equity ETF group. Fundstrat Granny Shts US Sm- &Mid-CapETF has 1.5% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 98.1% There is 1.5% 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 Sm- &Mid-CapETF has -0.5% of the portfolio in cash.
Assets Under Management
The fund has $506 million in total assets, which is below the $4 billion average for the Mid-Cap Blend 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.
GRNJ 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 Sm- &Mid-CapETF expense ratio is above average compared to funds in the Mid-Cap Blend category. Fundstrat Granny Shts US Sm- &Mid-CapETF has an expense ratio of 0.75%, which is 67% 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. Fundstrat Granny Shts US Sm- &Mid-CapETF 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 84% for the Mid-Cap Blend category.
Recently, in the month of July 2026, Fundstrat Granny Shts US Sm- &Mid-CapETF returned -10.2%, which earned it a grade of F, as the Mid-Cap Blend category had an average return of -1.6%. 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 Sm- &Mid-CapETF has a trailing yield of 0.00%, which is below the 0.85% 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.
Fundstrat Granny Shts US Sm- &Mid-CapETF Grades
Year to date, the ETF has returned 10.5%, 3.5 percentage points worse than the category, which translates into a grade of D.
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GRNJ 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 |
|
| GRNJ Return (NAV) | -10.2% | -3.5% | na | na | na | na |
| GRNJ Return (Price) | -10.3% | -3.6% | na | na | na | na |
| NAV +/- Price Return | 0.143% | 0.077% | na | na | na | na |
| Mid-Cap Blend Avg | -1.6% | 4.4% | 20.8% | 14.8% | 8.8% | 11.6% |
| GRNJ Grade (NAV) | F | F | na | na | na | na |
| +/- Category (NAV) | -8.6% | -7.9% | na | na | na | na |
| GRNJ Tax-Cost Ratio | na | na | na | na | na | na |
GRNJ Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| GRNJ Return (NAV) | 10.5% | na | na | na | na | na | na | na | na | na | na |
| GRNJ Return (Price) | 10.4% | na | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | -0.013% | na | na | na | na | na | na | na | na | na | na |
| Mid-Cap Blend Avg | 14.0% | 10.6% | 16.1% | 16.9% | -14.4% | 23.3% | 15.6% | 27.4% | -9.1% | 19.1% | 14.8% |
| GRNJ Grade (NAV) | D | na | na | na | na | na | na | na | na | na | na |
| +/- Category | -3.5% | 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: | $ 507 Mil |
| Share Class Assets: | $ 507 Mil |
| Turnover: | na |
| Expense Ratio: | 0.75% |
| Index Fund: | No |
| Index Tracked: | N/A |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Quarterly |
Management Team
| Number of Managers: 4 | |||
| Longest Tenure: 0.7 years | |||
| Average Tenure: 0.6 years | |||
| Managers (Year): Duan Qiao (2025), Xuan Ken (2025), Lee Thomas J. (2025), Foy Stephen (2026) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 64 |
| % in Top 10 Holdings: | 22.4% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 1.5% |
Portfolio Allocation |
|
| Domestic Stock: | 98.1% |
| Foreign Stock: | 1.5% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 1.0% |
| Cash: | -0.5% |
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 (%): | 0.75% (Rating: Above Avg) |
| Category Average Expense Ratio (%): | 0.45% |
