ETF Evaluator:
Atlas America Fund ()
Follow This ETF
(as of Aug 25)
Best Performing in Moderate Allocation Over the Last Year
| 29.1% | Adaptive Core ETF (RULE) |
| 21.3% | Monarch Volume Factor Dividend Tree ETF (MVFD) |
| 19.5% | Avantis Moderate Allocation ETF (AVMA) |
| 19.4% | Ned Davis Research 360 Dyn Allc ETF (NDAA) |
| 16.0% | SMI 3Fourteen REAL Asset Allocation ETF (RAA) |
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ETF Details
Atlas America Fund Overview
Atlas America Fund (USAF) is an actively managed Allocation Moderate Allocation exchange-traded fund (ETF). Atlas Fund launched the ETF in 2024.
The investment seeks stable returns across a variety of economic and financial market conditions consistent with the preservation of capital.
The fund is an actively managed ETF that seeks to achieve its investment objective by investing primarily in a portfolio of investments in the following asset classes: real estate investment trusts, investment grade fixed income securities including U.S. government securities, municipal securities, and corporate bonds, gold trusts, structured securities, equity securities of U.S. and non-U.S. companies, including common stocks, ADRs, preferred stocks, and alternative strategies. The fund is non-diversified.
About Atlas America Fund (USAF)
There are 3 members of the management team with an average tenure of 1.70 years: Carlo Zola (2024), Puneet Agarwal (2024) and Nouriel Roubini (2024). Management tenure is more important for actively managed ETFs than passive index ETFs.
Atlas America Fund has 64 securities in its portfolio. The top 10 holdings constitute 68.8% 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.
Atlas America Fund is part of the Allocation global asset class and is within the Allocation ETF group. Atlas America Fund has 1.5% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 19.9% 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 39.8% (39.8% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Atlas America Fund has 19.9% of the portfolio in cash.
Assets Under Management
The fund has $17 million in total assets, which is below the $411 million average for the 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.
USAF 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 Atlas America Fund expense ratio is high compared to funds in the Moderate Allocation category. Atlas America Fund has an expense ratio of 0.89%, which is 6% lower than its category average, making the fund expense ratio grade a B. 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. Atlas America Fund has a portfolio turnover rate of 67%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 162% for the Moderate Allocation category.
Recently, in the month of July 2026, Atlas America Fund returned 1.0%, which earned it a grade of A, as the Moderate Allocation category had an average return of -1.0%. 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.
Atlas America Fund has a trailing yield of 2.42%, which is above the 2.36% 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.
Atlas America Fund Grades
Year to date, the ETF has returned 3.1%, 4.2 percentage points worse than the category, which translates into a grade of F. The fund has returned 7.7% over the past year (grade of F).
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USAF 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 |
|
| USAF Return (NAV) | 1.0% | 0.2% | 7.7% | na | na | na |
| USAF Return (Price) | 0.9% | 0.2% | 7.6% | na | na | na |
| NAV +/- Price Return | 0.074% | 0.051% | 0.096% | na | na | na |
| Moderate Allocation Avg | -1.0% | 1.5% | 13.8% | 10.7% | 4.9% | na |
| USAF Grade (NAV) | A | F | F | na | na | na |
| +/- Category (NAV) | 2.0% | -1.3% | -6.1% | na | na | na |
| USAF Tax-Cost Ratio | na | na | 1.0% | na | na | na |
USAF Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| USAF Return (NAV) | 3.1% | 9.0% | na | na | na | na | na | na | na | na | na |
| USAF Return (Price) | 3.0% | 9.1% | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | -0.037% | 0.011% | na | na | na | na | na | na | na | na | na |
| Moderate Allocation Avg | 7.4% | 10.4% | 12.0% | 10.2% | -14.7% | 13.8% | 11.5% | 18.3% | -7.5% | na | na |
| USAF Grade (NAV) | F | D | na | na | na | na | na | na | na | na | na |
| +/- Category | -4.2% | -1.4% | 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: | 2.4% |
| Total Assets: | $ 18 Mil |
| Share Class Assets: | $ 18 Mil |
| Turnover: | 67.0% |
| Expense Ratio: | 0.89% |
| 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: 3 | |||
| Longest Tenure: 1.7 years | |||
| Average Tenure: 1.7 years | |||
| Managers (Year): Zola Carlo (2024), Agarwal Puneet (2024), Roubini Nouriel (2024) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 64 |
| % in Top 10 Holdings: | 68.8% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 1.5% |
Portfolio Allocation |
|
| Domestic Stock: | 19.9% |
| Foreign Stock: | 1.5% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 39.8% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 18.9% |
| Cash: | 19.9% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Atlas Fund |
| Phone Number: | 855-511-0520 |
| Website: | |
| Inception Date: | November 19, 2024 |
Expenses and Fees
| Expense Ratio (%): | 0.89% (Rating: High) |
| Category Average Expense Ratio (%): | 0.95% |
