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
STRUCTURE : ETF
EXCHANGE : NASDAQ
LIQUIDITY : DAILY
STRATEGY : Public innovators + select private sleeve (policy-capped)
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.
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
Why It’s Different (XOVR ETF — Private-Public Crossover ETF)
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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
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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
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Low-fee ETF wrapper
Lower ongoing fees than typical private vehicles, with one expense ratio and standard brokerage access.
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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).
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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
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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.
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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.
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Transparency
Daily holdings disclosure; holdings change — see the entire portfolio for the latest.
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.
- *“Policy-capped private sleeve” refers to a maximum allocation (e.g., up to ~15%) under the Fund’s policy.
- 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.
- Example issuers shown for illustration if currently held. Not a recommendation to buy or sell any security. Holdings change; see current holdings.
- “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.
Fund Data Table
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.
As of 11.05.2025
| NAV | $20.89 | Premium / Discount | $0.01 |
| NAV Changes | 0.53% | Median Bid / Ask Spread | 0.0953% |
| Market Price | $20.9 | Day's Trading Volume | 70,743 shares |
| Market Price Change | 0.53% | Implied Liquidity | 20,075,000 shares |
ERShares XOVR ETF Performance
View graph
| YTD | 1 Year | 3 Years* | 5 Years* | 10 Years* | Since Inception | |
|---|---|---|---|---|---|---|
| NAV | 17.22% | 30.89% | 31.78% | 7.3% | N/A | 12.02% |
| Market Price | 17.27% | 30.86% | 31.87% | 7.37% | N/A | 12.03% |
ERShares XOVR Performance
View graph
| 1 Month | 3 Month | YTD | 1 Year | 3 Years* | 5 Years* | 10 Years* | Since Inception | |
|---|---|---|---|---|---|---|---|---|
| NAV | 5.82% | 10.53% | 17.22% | 30.89% | 31.75% | 7.29% | N/A | 12.04% |
| Market Price | 6.02% | 10.63% | 17.27% | 30.84% | 31.80% | 7.31% | N/A | 11.98% |
| XOVR* | 5.82% | 10.53% | 17.22% | 30.89% | N/A | N/A | N/A | N/A |
| ER30TR Index | 6.41% | 13.18% | 21.57% | 33.68% | 40.72% | 13.97% | 19.20% | 17.19% |
| ENTIX | 4.88% | 10.90% | 29.76% | 41.52% | 30.56% | 9.50% | 12.00% | 10.08% |
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.
Information Technology
36.16%
36.16%
Financials
20.76%
20.76%
Communication Services
14.66%
14.66%
Consumer Discretionary
10.36%
10.36%
Health Care
9.27%
9.27%
Industrials
5.68%
5.68%
Energy
1.68%
1.68%
Consumer Staples
1.47%
1.47%
XOVR ETF Holdings
View Full List
| Company | Weight | Ticker | Market Price | Shares Held | Market Value | CUSIP |
|---|---|---|---|---|---|---|
| NVIDIA CORP | 10.338% | NVDA US | 190.53 | 874,728 | 166,661,925.84 | 67066G104 |
| US DOLLARS | 10.015% | USD | 1 | 161,450,000 | 161,450,000 | USD |
| META PLATFORMS-A | 5.1738% | META US | 663.29 | 125,744 | 83,404,737.76 | 30303M102 |
| MAPLEBEAR INC | 4.1149% | CART US | 45.85 | 1,446,776 | 66,334,679.60 | 565394103 |
| AFFIRM HOLDINGS | 3.6607% | AFRM US | 75.81 | 778,429 | 59,012,702.49 | 00827B106 |
| UIPATH INC - CL A | 3.5456% | PATH US | 16.84 | 3,394,122 | 57,157,014.48 | 90364P105 |
| TOAST INC-A | 3.3922% | TOST US | 36.44 | 1,500,680 | 54,684,779.20 | 888787108 |
| EXELIXIS INC | 3.3415% | EXEL US | 46.24 | 1,164,945 | 53,867,056.80 | 30161Q104 |
| PEGASYSTEMS INC | 3.1547% | PEGA US | 62.43 | 814,595 | 50,855,165.85 | 705573103 |
| MEDPACE HOLDINGS | 3.1443% | MEDP US | 567.56 | 89,310 | 50,688,783.60 | 58506Q109 |
| APPLOVIN CO-CL A | 2.9171% | APP US | 714.23 | 65,840 | 47,024,903.20 | 03831W108 |
| VEEVA SYSTEMS-A | 2.8688% | VEEV US | 224.65 | 205,865 | 46,247,572.25 | 922475108 |
| NATERA INC | 2.7553% | NTRA US | 233.74 | 190,027 | 44,416,910.98 | 632307104 |
| TESLA INC | 2.7331% | TSLA US | 475.19 | 92,719 | 44,059,141.61 | 88160R101 |
| ANTERO RESOURCES | 2.5791% | AR US | 34.06 | 1,220,692 | 41,576,769.52 | 03674X106 |
| RESMED INC | 2.5761% | RMD US | 244.76 | 169,672 | 41,528,918.72 | 761152107 |
| PALANTIR TECHN-A | 2.5367% | PLTR US | 188.71 | 216,698 | 40,893,079.58 | 69608A108 |
| DATADOG INC-A | 2.4766% | DDOG US | 138.315 | 288,645 | 39,923,933.18 | 23804L103 |
| DOORDASH INC-A | 2.3232% | DASH US | 233.95 | 160,086 | 37,452,119.70 | 25809K105 |
| ARISTA NETWORKS | 2.2522% | ANET US | 131.84 | 275,388 | 36,307,153.92 | 040413205 |
| ORACLE CORP | 2.1982% | ORCL US | 197.99 | 178,979 | 35,436,052.21 | 68389X105 |
| INTERACTIVE BROK | 2.1581% | IBKR US | 66.16 | 525,854 | 34,790,500.64 | 45841N107 |
| ZSCALER INC | 2.1500% | ZS US | 230.52 | 150,356 | 34,660,065.12 | 98980G102 |
| ROBINHOOD MARK-A | 2.1178% | HOOD US | 118.13 | 289,005 | 34,140,160.65 | 770700102 |
| ROCKET LAB CORP | 2.1122% | RKLB US | 70.65 | 481,951 | 34,049,838.15 | 773121108 |
| SPV EXPOSURE TO SPACEX | 2.0953% | — | 185 | 182,582.5825 | 33,777,777.76 | SPACEXSPV |
| APPFOLIO INC - A | 2.0096% | APPF US | 237.29 | 136,527 | 32,396,491.83 | 03783C100 |
| NETFLIX INC | 1.9281% | NFLX US | 94.47 | 329,016 | 31,082,141.52 | 64110L106 |
| REDDIT INC-A | 1.7753% | RDDT US | 225.77 | 126,765 | 28,619,734.05 | 75734B100 |
| UBIQUITI INC | 1.5438% | UI US | 570.72 | 43,608 | 24,887,957.76 | 90353W103 |
| COINBASE GLOBA-A | 1.3671% | COIN US | 236.9 | 93,031 | 22,039,043.90 | 19260Q107 |
| BBH SWEEP VEHICLE | 1.2131% | 9BBH | 100 | 19,556,425.10 | 19,556,425.10 | BBHETFMM |
| TRADE DESK INC-A | 1.1386% | TTD US | 38.31 | 479,151 | 18,356,274.81 | 88339J105 |
| ANDURIL HOLDINGS SPV LP | 0.1860% | — | 42.5 | 70,588.2353 | 3,000,000 | ANDURLSPV |
| SPV EXPOSURE TO KLARNA | 0.1057% | — | 31.434818 | 54,205.8828 | 1,703,952.06 | KLARNASPV |
| Receivables/Payables | -0.000% | RECPAY | 1 | -4,057.29 | -4,057.29 | RECPAY |
XOVR ETF Holdings
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Exposure to SpaceX is indirectly achieved through investment in Astra Holdings SPV, LP.
See the fund disclosures below for more information.†
Footnote: Exposure to SpaceX is indirectly achieved through investment in Astra Holdings SPV, LP. See the fund disclosures below for more information.†
Stay Informed
Get updates on XOVR holdings and research insights.
†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 achieved through purchase of privately-offered securities (“private securities”) issued by Astra Holdings SPV, LP (“Astra”), an investor in special purpose vehicles (“SPVs”) managed by Gigafund Management Company, LLC (“Gigafund”) and other SPVs which have direct interests in SpaceX. 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 the acts. Private securities may be difficult to value and to sell because of regulatory restrictions on resale. SPVs carry additional costs such as transaction fees, 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 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.
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. 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. The Entrepreneur Factor® is a bottom-up investment orientation that we believe stands above other investment factors such as momentum, sector, growth, value, leverage, market cap, and geographic orientation. Late-stage private companies are privately held firms that have moved beyond early growth phases and are approaching maturity, often with proven business models and substantial revenues but not yet publicly listed. PMF Velocity (Product-Market Fit Velocity) is the speed at which a startup moves toward achieving and strengthening product-market fit, reflecting how quickly it can validate strong market demand for its offering. VC (Venture Capital ) Style or Venture Style approach seeks out firms with high growth potential, typically smaller, innovative, or disruptive companies. The goal is to find a few big long-term winners that can deliver outsized gains within the public markets. For more than 30 years at Babson College, the number one school in Entrepreneurship education, Professor Joel Shulman, Ph.D., CFA, conducted academic research that led to the creation of the “Entrepreneur Factor.” This framework is grounded in a venture capital (VC) style investing model applied to public equities. Because the term entrepreneur is not formally defined or classified within traditional financial databases such as Bloomberg, Capital IQ, or FactSet, Professor Shulman developed a proprietary system to replicate how venture capitalists evaluate and invest in private companies, but within the public markets. Initially, he identified 15 attributes that capture the essence of entrepreneurial success, mirroring the criteria a venture capitalist would apply when assessing early-stage companies. These include factors such as founder and leadership quality, CEO background, team strength, ownership and economic incentives, revenue growth trajectory, market potential, innovation capacity, and capital discipline. Backed by more than 25 academic articles and publications, his framework provides an empirically tested foundation for quantifying the entrepreneurial qualities that drive long-term performance. By embedding these 15 venture-style characteristics into ERShares public company selection process, he effectively recreated the VC investment model inside a liquid, public-market framework. This methodology defines ERShares VC-style approach to investing—one that emphasizes entrepreneurial leadership, high-growth potential, and innovation-driven value creation. It remains the foundation of ERShares investment philosophy and a unique differentiator in their overall investment thesis.