ETF Evaluator:
MRP SynthEquity ETF ()
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(as of Aug 26)
Best Performing in Equity Hedged Over the Last Year
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ETF Details
MRP SynthEquity ETF Overview
MRP SynthEquity ETF (SNTH) is an actively managed Nontraditional Equity Equity Hedged exchange-traded fund (ETF). Measured Risk Portfolios, Inc. launched the ETF in 2025.
The investment seeks long-term capital appreciation.
The fund is an actively managed exchange-traded fund (ETF) that seeks to achieve its investment objective through a combination of options (“Options Strategy”) and U.S. Treasuries (“Treasury Strategy”). It primarily seeks capital appreciation by investing in options contracts on the S&P 500 Index which are considered synthetic holdings of the index. The fund is non-diversified.
About MRP SynthEquity ETF (SNTH)
There are 4 members of the management team with an average tenure of 0.82 years: Larry Kriesmer (2025), Bernard Surovsky (2025), Briffa Vella (2026) and Matt Brandt (2026). Management tenure is more important for actively managed ETFs than passive index ETFs.
MRP SynthEquity ETF has 15 securities in its portfolio. The top 10 holdings constitute 113.3% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
MRP SynthEquity ETF is part of the Equity global asset class and is within the Nontraditional Equity ETF group. MRP SynthEquity ETF has 0.1% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 26.4% There is 0.1% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 63.8% (63.8% domestic bond, 0.0% foreign bond and 0.0% convertible bond). MRP SynthEquity ETF has 8.4% of the portfolio in cash.
Assets Under Management
The fund has $248 million in total assets, which is below the $294 million average for the Equity Hedged 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.
SNTH 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 MRP SynthEquity ETF expense ratio is high compared to funds in the Equity Hedged category. MRP SynthEquity ETF has an expense ratio of 0.96%, which is 26% 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. MRP SynthEquity ETF has a portfolio turnover rate of 19%, which indicates that it holds its assets around / 0.1 years. By way of comparison, the average portfolio turnover is 97% for the Equity Hedged category.
Recently, in the month of July 2026, MRP SynthEquity ETF returned -1.1%, which earned it a grade of D, as the Equity Hedged category had an average return of -1.4%. 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.
MRP SynthEquity ETF has a trailing yield of 5.47%, which is above the 3.45% 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.
MRP SynthEquity ETF Grades
Year to date, the ETF has returned 7.4%, 0.2 percentage points better than the category, which translates into a grade of C. The fund has returned 16.6% over the past year (grade of B).
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SNTH 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 |
|
| SNTH Return (NAV) | -1.1% | 2.0% | 16.6% | na | na | na |
| SNTH Return (Price) | -1.2% | 2.0% | 16.4% | na | na | na |
| NAV +/- Price Return | 0.149% | -0.024% | 0.244% | na | na | na |
| Equity Hedged Avg | -1.4% | 1.7% | 13.6% | 12.0% | 6.6% | 7.6% |
| SNTH Grade (NAV) | D | C | B | na | na | na |
| +/- Category (NAV) | 0.3% | 0.3% | 3.1% | na | na | na |
| SNTH Tax-Cost Ratio | na | na | 3.6% | na | na | na |
SNTH Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| SNTH Return (NAV) | 7.4% | na | na | na | na | na | na | na | na | na | na |
| SNTH Return (Price) | 7.0% | na | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | -0.049% | na | na | na | na | na | na | na | na | na | na |
| Equity Hedged Avg | 7.1% | 12.6% | 14.6% | 14.8% | -12.9% | 15.6% | 10.2% | 9.9% | -6.3% | 12.2% | 3.0% |
| SNTH Grade (NAV) | C | na | na | na | na | na | na | na | na | na | na |
| +/- Category | 0.2% | 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: | 5.5% |
| Total Assets: | $ 248 Mil |
| Share Class Assets: | $ 248 Mil |
| Turnover: | 19.0% |
| Expense Ratio: | 0.96% |
| 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: 1.4 years | |||
| Average Tenure: 0.8 years | |||
| Managers (Year): Kriesmer Larry (2025), Surovsky Bernard (2025), Vella Briffa (2026), Brandt Matt (2026) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 15 |
| % in Top 10 Holdings: | 113.3% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 0.1% |
Portfolio Allocation |
|
| Domestic Stock: | 26.4% |
| Foreign Stock: | 0.1% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 63.8% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 1.3% |
| Cash: | 8.4% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Measured Risk Portfolios, Inc. |
| Phone Number: | 844-874-7383 |
| Website: | |
| Inception Date: | March 10, 2025 |
Expenses and Fees
| Expense Ratio (%): | 0.96% (Rating: High) |
| Category Average Expense Ratio (%): | 0.76% |
