ERShares
Funds
XOVR ETF
Entrepreneur Private-Public Crossover ETF
Why Invest In XOVR?
XOVR is the first crossover ETF that enables investors (institutional, retail, high net worth) to invest in both public and private equity securities. Importantly, it extends the ERShares’ Entrepreneur Factor® methodology to the entire portfolio, by utilizing the ER30TR Index. XOVR offers unique access to SpaceX, its top holding. Unlike closed-end funds with high premiums, XOVR provides access to SpaceX at net asset value (NAV), ensuring fairness and transparency. Relaunched on NASDAQ on August 29, 2024, XOVR blends public and private equities in a single, liquid fund. We’re proud to lead this movement, making private equity accessible and investing in tomorrow’s entrepreneurial leaders.
Fund Details
| Fund Type Equity ETF |
| ENTR CUSIP 293828802 |
| XOVR CUSIP 293828877 |
| New CUSIP Effective Date 08/29/2024 |
| AUM $299.50 Million |
| Number of Holdings 32 |
| Inception Date - ENTR 11/7/2017 |
| Effective Date - XOVR 8/29/2024 |
| Gross Expense Ratio 0.75% |
| Average Market Cap $272,375 Million |
Fund Strategy
As of 08/29/2024, the fund’s ticker has been changed from ENTR to XOVR. The fund was an actively managed US Large Cap ETF that typically utilized 70-93 equities. The turnover of this actively managed strategy was very high. Since inception, the fund significantly underperformed the ER30TR Index. Notably, the ER30TR Index has provided exceptional performance since its 06/30/2005 inception date (Note – Past Performance is not a guarantee of future results). On 08/29/2024, we decided to replace the preponderance of the portfolio (85%+) with the ER30TR Index and supplement with US Large Cap private equity securities for the balance.
The overall strategy of XOVR remains the same as before (US Large Cap Growth focused on Entrepreneurial companies) but the implementation is different. XOVR utilises the proprietary ER30TR Index comprised of 30 US Large capitalization entrepreneurial stocks. The index has a quarterly rebalance with approximately a 15-20% turnover. We believe the frequency of trades, portfolio weights and composition and private equity holdings will impact the performance.
The ERShares XOVR ETF selects the most entrepreneurial, primarily US Large Cap companies, that meet the threshold embedded in the proprietary Entrepreneur Factor® (EF). It is a crossover ETF that will enable investors (institutional, retail, high net worth) to invest in both public and private equity securities. (e.g. SpaceX, Xai, Open AI, Epic Games). The ETF provides investors with daily liquidity, trades at Net Asset Value (NAV), and no minimum investment. The majority of the XOVR ERShares’ investment will be held in the ER30TR Index with the balance held in private equity. The Index incorporates the Entrepreneur Factor®– 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. Moreover, with the aid of Thematic Research, ERShares incorporates a macro-economic, top-down approach that integrates changing investment flows, innovation entry points, sector growth, and other characteristics into a dynamic, global perspective model. ERShares EF strives to deliver strong performance across a variety of investment strategies without disrupting investors’ underlying risk profile metrics.
Fund Documents
Fund Data Table
| NAV | $18.14 | Premium/Discount | $0.02 |
| NAV Changes | 0.95% | Median Bid/Ask Spread | 0.1169% |
| Market Price | $18.16 | Day's Trading Volume | 241,776 shares |
| Market Price Change | 1.17% | Implied Liquidity | 19,400,000 shares |
Sector Allocations
| Information Technology 32.76% |
| Industrials 16.66% |
| Health Care 13.84% |
| Communication Services 12.55% |
| Consumer Discretionary 11.66% |
| Financials 8.90% |
| Energy 2.56% |
Sector Allocations are subject to change
ERShares XOVR ETF Performance
| YTD | 1 Year | 3 Years* | 5 Years* | 10 Years* | Since Inception | |
| NAV | -11.5% | 2.97% | 8.3% | 9.58% | N/A | 8.68% |
| Market Price | -11.44% | 2.97% | 8.26% | 9.57 | N/A | 8.69% |
*Annualized
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.
XOVR ETF Holdings
| Company | Weight | Ticker | Market Price | Shares Held | Market Value | CUSIP |
| SPACEX, SPV | 9.3603% | 185 | 179879.8795 | 33277777.71 | SPACEXSPV | |
| NVIDIA CORP | 5.6767% | NVDA | 135.4 | 149055 | 20182047 | 67066G104 |
| META PLATFORMS-A | 4.9855% | META | 640.34 | 27680 | 17724611.2 | 30303M102 |
| ALPHABET INC-A | 4.6772% | GOOGL | 166.19 | 100058 | 16628639.02 | 02079K305 |
| NETFLIX INC | 4.5218% | NFLX | 1191.53 | 13492 | 16076122.76 | 64110L106 |
| ORACLE CORP | 4.2267% | ORCL | 160.49 | 93631 | 15026839.19 | 68389X105 |
| APPLOVIN CO-CL A | 3.9549% | APP | 362.34 | 38805 | 14060603.7 | 03831W108 |
| SALESFORCE INC | 3.7099% | CRM | 291.15 | 45301 | 13189386.15 | 79466L302 |
| ARISTA NETWORKS | 3.6552% | ANET US | 96.42 | 134776 | 12995101.92 | 040413205 |
| ROBINHOOD MARK-A | 3.4232% | HOOD | 61.76 | 197059 | 12170363.84 | 770700102 |
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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 Vigilant Distributors, 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.
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 Vigilant Distributors LLC. There is no affiliation between ERShares and vigilant distributors.
| Prior Year (2023) | Current Year Q1 | Current Year Q2 | Current Year Q3 | Current Year Q4 | |
| Premium | 148 | 49 | |||
| Discount | 72 | 6 |
