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XOVR ETF

Private-Public Crossover ETF

As of 08/29/2024, ENTR converted to the XOVR ETF: The first U.S.-listed ETF blending public innovators with a measured sleeve of private companies—single ticker, daily liquidity.1

Democratizing retail access to private‑company exposure—via a single ETF.3 4

TICKER : XOVR

STRUCTURE : ETF

EXCHANGE : NASDAQ

LIQUIDITY : DAILY

STRATEGY : Public innovators + select private sleeve (policy-capped)

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How To Invest

WHY INVESTORS CHOOSE XOVR

PRIVATE - IPO - PUBLIC

XOVR provides exposure to both public innovators and select late-stage private companies — within a single, daily-liquidity ETF.

(SpaceX, Anduril)

Logos shown for illustrative purposes only; holdings change; see current holdings.

XOVR brings a venture-capital lens to public innovators—guided by the ER30TR index research—and pairs them with a measured, policy-capped sleeve of select private companies, all inside one daily-liquidity ETF.

It provides institutional-style access to the pre-IPO economy without closed-end premiums, lockups, or interval-fund gates. Holdings are dynamic and may change; see current holdings.

Fund Details

As of 09.30.2025
Fund Type Equity ETF
ENTR CUSIP 293828802
XOVR CUSIP 293828877
New CUSIP Effective Date 08/29/2024
AUM $485.80 Million
Number of Holdings 33
Inception Date - ENTR 11/7/2017
Effective Date - XOVR 8/29/2024
Gross Expense Ratio 0.75%
Average Market Cap $345,966 Million

Fund Strategy (XOVR ETF — Public-Private Crossover ETF)

What changed on Aug 29, 2024

ERShares converted the ENTR Entrepreneurs ETF into XOVR, a private-public crossover ETF built on top of our proprietary ER30TR Index and managed with daily liquidity. This structure enables ETF-based retail access to a measured allocation of private-company exposure reflected in daily NAV.

What this means for investors

Access the pre-IPO economy via XOVR, a private-public crossover ETF with daily liquidity and a private sleeve marked into daily NAV—paired with a concentrated 30-name ER30TR index sleeve of entrepreneurial public companies.

How we build the portfolio

Rules-driven core informed by and aligned to our proprietary ER30TR Index, focusing on 30 U.S. large-cap, entrepreneur-led innovators. The index is rebalanced and reconstituted quarterly; typical turnover ~15–20%.

A measured, policy-capped allocation to late-stage, venture-backed companies held within the same ETF. Positions are fair-valued and carried in daily NAV—no closed-end premiums, lockups, or interval-fund gates. This allocation provides private-equity exposure inside an ETF and broadens access—bringing instruments previously limited to institutional and accredited investors to retail investors via an ETF.⁴

Public and private holdings are reflected at daily fair value and supported by standard ETF creation/redemption mechanics. Holdings change—see the entire portfolio.

Fund Data Table

As of 01.09.2026
NAV $20.1 Premium/Discount $0.02
NAV Changes -0.54% Median Bid/Ask Spread 0.0985%
Market Price $20.12 Day's Trading Volume 484,406 shares
Market Price Change -0.54% Implied Liquidity 80,425,000 shares

XOVR ETF Holdings

View All Holdings
As of 01.09.2026
Company Weight Ticker Market Price Shares Held Market Value CUSIP
SPV EXPOSURE TO SPACEX 9.9764% 1 161450000 161450000 SPCEXSPV2
NVIDIA CORP 5.7089% NVDA US 184.86 499779 92389145.94 67066G104
META PLATFORMS-A 4.9948% META US 653.06 123774 80831848.44 30303M102
PALANTIR TECHN-A 4.0773% PLTR US 177.49 371768 65985102.32 69608A108
BBH SWEEP VEHICLE 3.7116% 9BBH 100 60065747.89 60065747.89 BBHETFMM
APPLOVIN CO-CL A 3.6874% APP US 647.72 92130 59674443.6 03831W108
ARISTA NETWORKS 3.4695% ANET US 122.89 456901 56148563.89 040413205
INTERACTIVE BROK 3.2561% IBKR US 70.47 747767 52695140.49 45841N107
DOORDASH INC-A 3.1870% DASH US 215.56 239268 51576610.08 25809K105
ROBINHOOD MARK-A 3.1727% HOOD US 115.27 445439 51345753.53 770700102

Footnote: Exposure to SpaceX is sought indirectly through investments in SPV Exposure to SpaceX LLC, a special purpose vehicle private fund (“SPV”) the objective of which is to purchase privately-offered securities including other private funds (“private securities”). See the fund disclosures below for more information.†

Private securities that are private funds have no CUSIP, are not unitized and thus have no “share price.”  Such investments have no market price and are fair valued, generally at net asset value.

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How To Invest
Why Invest In XOVR?

XOVR applies a venture-capital lens to public innovators—anchored by our proprietary ER30TR Index research—and complements them with a measured, policy-capped sleeve of select private companies, all within a single, daily-liquidity ETF. The design provides institutional-style exposure to the pre-IPO economy without closed-end premiums, lockups, or interval-fund gates. Holdings are dynamic and may change.

Democratizing Retail Access To Private-Equity Exposure

Access historically limited to accredited investors, delivered inside an ETF with daily liquidity and standard brokerage access.3 4

Single-Ticker Simplicity

Public innovators + measured private exposure with standard brokerage access and daily transparency.

Proprietary VC-Style Research You Can Trade

The Entrepreneur Factor® and ER30TR Index power a rules-driven public core paired with a selective private sleeve carried in daily NAV.

Risk Controls By Design

Private sleeve sized by policy caps; diversified across entrepreneur-led leaders.

Pre-IPO Exposure, ETF Liquidity

Institutional-style access without closed-end premiums, lockups, or interval-fund gates; shares trade daily.

Transparency & Governance

Daily holdings disclosure; valuation under a board-approved policy; standard ETF custody and oversight.

Examples of private-company exposure have included SpaceX and Anduril; we also held Klarna while private and continued to hold it after its 2025 public listing—making XOVR, to our knowledge, the first U.S.-listed ETF to disclose a private holding that subsequently became a public holding within the same ETF. Holdings change; see current holdings.1 2

Sector Allocations

Information Technology 36.16%
Financials 20.76%
Communication Services 14.66%
Consumer Discretionary 10.36%
Health Care 9.27%
Industrials 5.68%
Energy 1.68%
Consumer Staples 1.47%
As of 09.30.2025

Sector Allocations are subject to change

Why It’s Different (XOVR ETF — Private-Public Crossover ETF)
.

One ticker, two stages

XOVR combines a rules-driven public core with a measured, policy-capped private sleeve—single-account simplicity, daily liquidity, and a true public-private crossover in one fund. *The first U.S.-listed ETF to blend public and private exposure this way in a single daily-liquidity portfolio.2

.

Retail seat at the table

Select access to the pre-IPO economy through an ETF sleeve reflected in daily NAV—no closed-end premiums, no lockups.3 4

.

Low-fee ETF wrapper

Lower ongoing fees than typical private vehicles, with one expense ratio and standard brokerage access.

.

Seamless private → public continuity

Maintain exposure from late-stage private through public listing within a single ETF—no subscription paperwork, no capital calls—and receive standard ETF tax reporting (Form 1099; no K-1s).

.

Democratizes private equity exposure

Delivers a measured sleeve of private-company exposure inside an ETF—bringing access historically limited to accredited investors to a broader retail audience, with standard brokerage access and daily liquidity.3

.

ETF-native access

Private-sleeve positions are fair-valued and carried in the Fund’s daily NAV—no closed-end premiums, no lockups, and no interval-fund gates.

.

Proprietary research you can trade

Our Entrepreneur Factor®( and ER30TR Index drive a disciplined public core (30 leaders; rebalanced & reconstituted quarterly; ~15–20% typical turnover) and inform selective private exposure.

.

Transparency

Daily holdings disclosure; holdings change — see the entire portfolio for the latest.

ERShares XOVR ETF Performance

As of 12.31.2025
YTD 1 Year 3 Years* 5 Years* 10 Years* Since Inception
NAV 11.39% 11.39% 30.99% 3.93% N/A 10.93%
Market Price 11.83% 11.83% 31.29% 4.05 N/A 10.99%

*Annualized

 

ERShares XOVR Performance

ENTR/XOVR Prior to 08/29/2024 the fund was trading under the ticker symbol ENTR. Since 08/29/2024 the ticker symbol has been changed to XOVR and the approach to accomplishing the investment strategy has changed. This performance represents the complete track record of XOVR and ENTR. Prior to 8/29/2024, ENTR held up to 93 actively traded securities. After 8/29/24 the fund invests primarily (85%+) in the ER30TR Index (30 securities) and the balance in US Large Cap private securities.
Performance quoted represents past performance and is no guarantee of future results. Current performance may be lower or higher than the performance data quoted. Investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than original cost. Performance data current to the most recent month end may be obtained by calling +1 (617) 279 0045 or visiting ershares.com. NAV prices are used to calculate market price performance prior to the date when the Fund first traded on the Nasdaq Exchange. Market performance is determined using the bid/ask midpoint at 4:00pm Eastern time, when the NAV is typically calculated. Market performance does not represent the returns you would receive if you traded shares at other times.

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Disclosures

†The fund’s investment objectives, risks, charges and expenses must be considered carefully before investing. The prospectus contains this and other important information about the investment company, and it may be obtained by calling +1 (617) 279 0045 or by visiting our website www.ershares.com. Read it carefully before investing. Distributed by Foreside Financial Services, LLC.

Fund Risks can include and are not limited to: Absence of Prior Active Market Risk, Management Risk, New ETF Provider, Common Stock Risk, Market Risk, Concentration Risk, American Depositary Receipts, Early Closing Risk, Exchange Trade Fund Risk, Private Equity Investment Risk, Illiquidity Risk, Valuation Risk, Exit Strategy Risk.

Private equity refers to investments in privately held companies or public companies taken private, typically through pooled funds managed by private equity firms. These firms raise capital from institutional and accredited investors to identify, acquire, and actively manage portfolio companies, aiming to enhance their value over time. After strategic improvements, the fund seeks to exit these investments through sales, mergers, or public offerings. The goal is to generate high returns for investors, albeit with associated risks such as illiquidity and valuation challenges.

† The fund does not directly hold shares of SpaceX. Exposure to SpaceX is sought indirectly through investment in SPV Exposure to SpaceX LLC or other special purpose vehicles (“SPVs”) the objective(s) of which is to seek such exposure through investment in privately-offered securities including other private funds (“private securities”) that have exposure to direct interests in SpaceX. The fund may not be able to influence the SPV’s management, and the SPV may hold material amounts of cash while seeking investments.  There cannot be any guarantee the SPV will be successful. Private securities are not registered under the Securities Act of 1933 and SPVs are not registered under the Investment Company Act of 1940 and therefore the fund does not benefit from the regulatory protections of those acts when participating in such investments. The SPV and private securities generally may be difficult to value and to sell because of regulatory restrictions on resale. SPVs and private securities may carry additional costs such as transaction fees, operating expenses, management and/or performance fees, capital gains taxes, and brokerage charges. These costs can materially impact both the price paid for the investment and the net returns, if any, generated.

For more information related to the risks of the fund, please refer to the prospectus. The prospectus can be obtained by calling 1-833-368-7383 and be viewed at https://entrepreneurshares.com/.

ERShares is distributed by Foreside Financial Services, LLC. There is no affiliation between ERShares and Foreside Financial Services distributors.



As of 09.30.2025
Prior Year (2024)Current Year Q1Current Year Q2Current Year Q3Current Year Q4
Premium148493227
Discount7262218
  1. *“Policy-capped private sleeve” refers to a maximum allocation (e.g., up to ~15%) under the Fund’s policy.
  2. Basis of “first” claim: ERShares review of U.S.-listed open‑end 1940 Act ETFs and public filings as of Aug 29, 2024; requires daily creations/redemptions and a single ETF portfolio with private‑company exposure reflected in daily NAV alongside public equities. Excludes interval funds, closed‑end funds, BDC/PE‑manager ETFs, SPACs, and products without private‑company exposure in NAV.
  3. Example issuers shown for illustration if currently held. Not a recommendation to buy or sell any security. Holdings change; see current holdings.
  4. “Private‑company exposure” is obtained indirectly through the Fund’s holdings and reflected in NAV; it does not confer direct shareholder rights in private issuers and may differ from terms available to accredited investors.

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