ETF Evaluator:
Sovereign's Capital Flourish Fund ()
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(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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ETF Details
Sovereign's Capital Flourish Fund Overview
Sovereign's Capital Flourish Fund (SOVF) is an actively managed U.S. Equity Mid-Cap Blend exchange-traded fund (ETF). Sovereign's Capital, LLC launched the ETF in 2023.
The investment seeks to provide long-term capital appreciation.
The fund invests primarily in common stock of publicly traded U.S. companies that are selected by the fund's investment adviser. The Adviser employs an active management strategy in seeking to achieve the fund’s objective.
About Sovereign's Capital Flourish Fund (SOVF)
There are 4 members of the management team with an average tenure of 2.29 years: Rafael Zayas (2023), Austin Wen (2023), Devin Ryder (2025) and Matt Monson (2023). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 1 primary benchmark: S&P Composite 1500 Equal Weight TR USD index with a weighting of 100%. Sovereign's Capital Flourish Fund has 79 securities in its portfolio. The top 10 holdings constitute 34.5% 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.
Sovereign's Capital Flourish Fund is part of the Equity global asset class and is within the U.S. Equity ETF group. Sovereign's Capital Flourish Fund has 0.5% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 99.3% There is 0.5% 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). Sovereign's Capital Flourish Fund has 0.2% of the portfolio in cash.
Assets Under Management
The fund has $87 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.
SOVF 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 Sovereign's Capital Flourish Fund expense ratio is above average compared to funds in the Mid-Cap Blend category. Sovereign's Capital Flourish Fund 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. Sovereign's Capital Flourish Fund has a portfolio turnover rate of 40%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 84% for the Mid-Cap Blend category.
Recently, in the month of July 2026, Sovereign's Capital Flourish Fund returned 3.5%, which earned it a grade of A, 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.
Sovereign's Capital Flourish Fund has a trailing yield of 0.73%, which is below the 0.85% 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.
Sovereign's Capital Flourish Fund Grades
Year to date, the ETF has returned 5.4%, 8.6 percentage points worse than the category, which translates into a grade of F. The fund has returned 4.5% over the past year (grade of F).
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SOVF 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 |
|
| SOVF Return (NAV) | 3.5% | 5.5% | 4.5% | na | na | na |
| SOVF Return (Price) | 3.5% | 5.5% | 4.6% | na | na | na |
| NAV +/- Price Return | -0.035% | -0.025% | -0.094% | na | na | na |
| Mid-Cap Blend Avg | -1.6% | 4.4% | 20.8% | 14.8% | 8.8% | 11.6% |
| SOVF Grade (NAV) | A | B | F | na | na | na |
| +/- Category (NAV) | 5.1% | 1.1% | -16.2% | na | na | na |
| SOVF Tax-Cost Ratio | na | na | 0.3% | na | na | na |
SOVF Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| SOVF Return (NAV) | 5.4% | -4.4% | 8.8% | na | na | na | na | na | na | na | na |
| SOVF Return (Price) | 5.4% | -4.4% | 8.7% | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | -0.006% | 0.001% | -0.009% | 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% |
| SOVF Grade (NAV) | F | F | F | na | na | na | na | na | na | na | na |
| +/- Category | -8.6% | -15.0% | -7.4% | 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: | 0.7% |
| Total Assets: | $ 87 Mil |
| Share Class Assets: | $ 87 Mil |
| Turnover: | 40.0% |
| Expense Ratio: | 0.75% |
| Index Fund: | No |
| Index Tracked: | S&P Composite 1500 Equal Weight TR USD |
| 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: 2.8 years | |||
| Average Tenure: 2.3 years | |||
| Managers (Year): Zayas Rafael (2023), Wen Austin (2023), Monson Matt (2023), Ryder Devin (2025) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 79 |
| % in Top 10 Holdings: | 34.5% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 0.5% |
Portfolio Allocation |
|
| Domestic Stock: | 99.3% |
| Foreign Stock: | 0.5% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.2% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Sovereign's Capital, LLC |
| Phone Number: | 877-524-9155 |
| Website: | |
| Inception Date: | October 2, 2023 |
Expenses and Fees
| Expense Ratio (%): | 0.75% (Rating: Above Avg) |
| Category Average Expense Ratio (%): | 0.45% |
