ETF Evaluator:
NovaTide Flexible Allocation ETF ()
Follow This ETF
(as of Aug 25)
Best Performing in Global Moderate Allocation Over the Last Year
| 27.3% | State Street® Multi-Asset Real Ret ETF (RLY) |
| 26.9% | VanEck Real Assets ETF (RAAX) |
| 19.1% | Cambria Global Asset Allocation ETF (GAA) |
| 17.0% | Global Moderate Allocation () |
| 16.9% | Arrow Dow Jones Global Yield ETF (GYLD) |
Risk
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Risk
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ETF Details
NovaTide Flexible Allocation ETF Overview
NovaTide Flexible Allocation ETF (NMBL) is an actively managed Allocation Global Moderate Allocation exchange-traded fund (ETF). Tidal Investments LLC. launched the ETF in 2025.
The investment seeks capital appreciation.
The fund is an actively managed ETF that seeks to achieve its investment objective by investing across multiple asset classes and countries worldwide, including emerging markets. The primary asset class exposure includes equities, fixed income securities, and commodities. The fund may invest directly in equities and fixed income securities.
About NovaTide Flexible Allocation ETF (NMBL)
There are 4 members of the management team with an average tenure of 0.75 years: Michael Venuto (2025), Aaron Dirlam (2025), Qiao Duan (2025) and Paul Courtney (2025). Management tenure is more important for actively managed ETFs than passive index ETFs.
NovaTide Flexible Allocation ETF has 44 securities in its portfolio. The top 10 holdings constitute 55.9% 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.
NovaTide Flexible Allocation ETF is part of the Allocation global asset class and is within the Allocation ETF group. NovaTide Flexible Allocation ETF has 10.6% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 55.7% There is 8.4% allocated to foreign stock, and 0.4% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 28.5% (26.2% domestic bond, 2.2% foreign bond and 0.0% convertible bond). NovaTide Flexible Allocation ETF has 1.1% of the portfolio in cash.
Assets Under Management
The fund has $21 million in total assets, which is below the $553 million average for the Global Moderate Allocation 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.
NMBL 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 NovaTide Flexible Allocation ETF expense ratio is high compared to funds in the Global Moderate Allocation category. NovaTide Flexible Allocation ETF has an expense ratio of 1.99%, which is 154% 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. NovaTide Flexible Allocation ETF 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 35% for the Global Moderate Allocation category.
Recently, in the month of July 2026, NovaTide Flexible Allocation ETF returned -1.7%, which earned it a grade of F, as the Global Moderate Allocation category had an average return of 0.4%. 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.
NovaTide Flexible Allocation ETF has a trailing yield of 0.00%, which is below the 4.27% 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.
NovaTide Flexible Allocation ETF Grades
Year to date, the ETF has returned 2.6%, 5.4 percentage points worse than the category, which translates into a grade of F.
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NMBL 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 |
|
| NMBL Return (NAV) | -1.7% | -1.7% | na | na | na | na |
| NMBL Return (Price) | 0.1% | -1.5% | na | na | na | na |
| NAV +/- Price Return | -1.869% | -0.135% | na | na | na | na |
| Global Moderate Allocation Avg | 0.4% | 0.2% | 17.0% | 12.6% | 7.4% | 6.9% |
| NMBL Grade (NAV) | F | F | na | na | na | na |
| +/- Category (NAV) | -2.1% | -1.8% | na | na | na | na |
| NMBL Tax-Cost Ratio | na | na | na | na | na | na |
NMBL Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| NMBL Return (NAV) | 2.6% | na | na | na | na | na | na | na | na | na | na |
| NMBL Return (Price) | 2.8% | na | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | 0.068% | na | na | na | na | na | na | na | na | na | na |
| Global Moderate Allocation Avg | 8.0% | 16.9% | 9.2% | 10.4% | -9.2% | 16.1% | 0.1% | 16.9% | -7.9% | 12.9% | 10.8% |
| NMBL Grade (NAV) | F | na | na | na | na | na | na | na | na | na | na |
| +/- Category | -5.4% | 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: | $ 22 Mil |
| Share Class Assets: | $ 22 Mil |
| Turnover: | na |
| Expense Ratio: | 1.99% |
| Index Fund: | No |
| Index Tracked: | N/A |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Annually |
Management Team
| Number of Managers: 4 | |||
| Longest Tenure: 0.8 years | |||
| Average Tenure: 0.8 years | |||
| Managers (Year): Venuto Michael (2025), Dirlam Aaron (2025), Duan Qiao (2025), Courtney Paul (2025) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 44 |
| % in Top 10 Holdings: | 55.9% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 10.6% |
Portfolio Allocation |
|
| Domestic Stock: | 55.7% |
| Foreign Stock: | 8.4% |
| Preferred Stock: | 0.4% |
| Domestic Bond: | 26.2% |
| Foreign Bond: | 2.2% |
| Convertible Bond: | 0.0% |
| Other: | 6.0% |
| Cash: | 1.1% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Tidal Investments LLC. |
| Phone Number: | 844-679-9922 |
| Website: | |
| Inception Date: | October 30, 2025 |
Expenses and Fees
| Expense Ratio (%): | 1.99% (Rating: High) |
| Category Average Expense Ratio (%): | 0.78% |
