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Overview
Hennessy Sustainable ETF
Actively managed, the Fund seeks to achieve long-term capital appreciation.
Ticker
STNCDaily NAV
as of 7/8/26$36.81Daily NAV % Change
-0.04%Daily Price
as of 7/8/26$36.81Daily Price % Change
-0.01%
Why Invest?
- Actively managed ETF strategy that combines sustainability and Machine Learning/Artificial Intelligence (ML/AI) in a tax-efficient ETF structure
- Exposure to companies that score well on sustainability metrics and that the Portfolio Managers believe will outperform based on ML/AI models
- Strategy leverages optimization in an attempt to reduce portfolio level tail risk and mitigate downside losses
Investment Approach
The Fund is an actively managed exchange-traded fund (“ETF”) that will invest, under normal circumstances, at least 80% of the value of its net assets (plus the amount of any borrowings for investment purposes) in exchange-traded equity securities of U.S. large-capitalization issuers that meet sustainability standards, as determined and in the sole discretion of Stance Capital, LLC. The Fund currently considers companies within the Russell 1000® Index and S&P 500® Index to be large capitalization issuers.
In identifying investments for the Fund, the Portfolio Managers utilize three independent processes.
First, the Portfolio Managers apply a rules-based methodology to the universe of large-capitalization companies and identify companies that successfully manage, in the view and sole discretion of the Portfolio Managers sustainability-related key performance indicators (“KPIs”) such as energy productivity, carbon intensity, water dependence, and waste profile as well as KPIs relating to governance, including capacity to innovate, unfunded pension fund liabilities, chief executive officer/average worker pay, safety performance, employee turnover, leadership diversity, percentage tax paid, and percent of bonus linked to sustainability performance. Companies that have engaged exclusively or primarily in weapons, tobacco, or thermal coal, may be excluded from consideration.
Second, the Portfolio Managers apply a machine-learning model that uses financial, risk, and other factors to identify companies that, in the view and sole discretion of the Portfolio Managers, are most likely to outperform both in absolute returns and in risk-adjusted returns over the next quarter.
Finally, the Portfolio Managers optimize the portfolio in an attempt to minimize tail risk and maximize diversification.
Key Facts
as of 7/8/26Inception Date 3/15/21 Ticker STNC Primary Exchange Nasdaq CUSIP 42588P 692 Net Assets $93MM Premium/Discount 0.02% 30-Day Median Bid/Ask Spread 0.14% Portfolio Managers
The Fund is sub-advised by Stance Capital, LLC, an independent, employee-owned investment adviser headquartered in Boston, MA.
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Insights & News
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Performance
Daily NAV & Pricing
as of 7/8/26-
NAV
$36.81
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NAV % Change
-0.04%
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Price
$36.81
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Price % Change
-0.01%
Average Annualized Total Returns
as of 6/30/26Name 1 Mo 3 Mo YTD 1 yr 3 yr 5 yr Since Inception (3/15/21) STNC - NAV 6.38% 13.27% 16.22% 25.98% 13.44% 8.39% 9.10% STNC - Market Price 6.54% 13.40% 16.21% 26.03% 13.43% 8.36% 9.12% S&P 500® Equal Weight Index 2.38% 11.39% 12.13% 19.20% 14.53% 9.14% 9.90% S&P 500® Index -0.95% 15.20% 10.21% 22.32% 20.61% 13.41% 14.41% as of 6/30/26Name 1 Mo 3 Mo YTD 1 yr 3 yr 5 yr Since Inception (3/15/21) STNC - NAV 6.38% 13.27% 16.22% 25.98% 13.44% 8.39% 9.10% STNC - Market Price 6.54% 13.40% 16.21% 26.03% 13.43% 8.36% 9.12% S&P 500® Equal Weight Index 2.38% 11.39% 12.13% 19.20% 14.53% 9.14% 9.90% S&P 500® Index -0.95% 15.20% 10.21% 22.32% 20.61% 13.41% 14.41% Calendar Year Total Returns
2025 2024 2023 2022 2021 STNC - NAV 10.18% 8.94% 11.40% -12.78% 17.00% S&P 500® Equal Weight Index 11.40% 12.98% 13.84% -11.46% 29.59% S&P 500® Index 17.88% 25.02% 26.29% -18.11% 21.40%
Annual Returns for 2021 are inception 3/15/21 through 12/31/22.
Historical Premium/Discount Data
Number of Days At: 2025 Q1 2026 Q2 2026 Q3 2026 Premium 51 8 7 — NAV 39 12 4 — Discount 161 41 51 —
Chart Description
Shareholders may pay more than net asset value (“NAV”) when buying fund shares and receive less than NAV when selling fund shares, because shares are bought and sold at current market prices. The performance quoted represents past performance and does not guarantee future results. The NAV of the Fund’s shares is determined as of the close of regular trading on the NYSE (generally 4:00 p.m. Eastern time) each day the NYSE is open. Share are purchased and sold in secondary market transactions at negotiated market prices rather than at NAV. Shares of the Fund may be bought and sold throughout the day on the exchange through a brokerage account. However, shares are not individually redeemable, and may only be redeemed directly from the Fund by Authorized Participants in very large creation/redemption units. Shares may trade at, above or below NAV. Brokerage commissions will reduce returns.
Returns-Based Statistics
Relative to S&P 500® Equal Weight Indexas of 6/30/26Type 3 yr 5 yr Alpha -0.51 -0.16 Beta 0.96 0.90 Upside Capture 91.97 91.94 Downside Capture 91.35 92.19 Alpha measures the fund’s excess return relative to the return of the benchmark. Beta measures the volatility of the fund compared to that of the benchmark. The beta of the benchmark is 1.00. Capture ratios measure the fund’s overall performance in up markets (positive return periods) and down markets (negative return periods).
Sharpe Ratio
as of 6/30/26Type 3 yr 5 yr STNC 0.65 0.36 S&P 500® Equal Weight Index 0.74 0.40 Large Blend Category Average 1.03 0.54 Sharpe Ratio is a measure of risk-adjusted return, reflecting the average return earned in excess of the risk-free rate per unit of volatility.
Standard Deviation
as of 6/30/26Type 3 yr 5 yr STNC 13.61 15.50 S&P 500® Equal Weight Index 13.22 15.93 Large Blend Category Average 12.47 14.98 Standard deviation is a statistical measure of the historical volatility of a mutual fund or portfolio.
Fund Expenses
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Gross expense ratio
0.95%
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Net expense ratio
0.85%
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Effective May 12, 2025, the name of the Hennessy Stance ESG ETF was changed to the Hennessy Sustainable ETF.
The performance quoted represents past performance and does not guarantee future results. Performance for periods greater than 1 year is annualized. Investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than the original cost. Shares of ETFs are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Brokerage commissions will reduce returns. Current performance may be lower or higher than the performance quoted.
The Fund’s investment manager has contractually agreed to ensure that total operating expenses (excluding brokerage commissions, taxes, interest expense, acquired fund fees and expenses, and any extraordinary expenses) do not exceed 0.85% of the Fund’s average daily net assets. The contractual arrangement will continue until February 28, 2027.
The S&P 500® is an unmanaged index commonly used to measure the performance of U.S. stocks. One cannot invest directly in an index. Standard & Poor’s Financial Services is the source and owner of the S&P® and S&P 500® trademarks.
The S&P 500® Equal Weight Index is the equal-weight version of the widely-used S&P 500® Index.
30-Day SEC Yield is a standardized yield computed by dividing the net investment income per share earned during the past 30-day period by the share price at the end of the period, expressed as an annual percentage rate. The 30-Day SEC Yield should be regarded as an estimate of the Fund’s rate of recent investment income, and it may not equal the Fund’s actual distribution rate. Past yields are no guarantee of future yields.
Dividend Yield is a financial ratio that indicates how much a company pays out in dividends each year relative to its share price. Price/Earnings measures a stock’s price per share compared to earnings. Price/Book measures a stock’s price per share to book value.
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Portfolio
Portfolio Characteristics
as of 6/30/26STNC Dividend Yield 0.88% 30-Day SEC Yield: Subsidized 1.02% 30-Day SEC Yield: Unsubsidized 0.93% Intended Distribution Frequency Annually Active Share vs. the S&P 500® Equal Weight Index 91% Portfolio Turnover 268% Median Price/Earnings 19.52x Median Price/Book 3.92x Median Market Cap $75.2 Billion Portfolio Rebalance Quarterly Price/Earnings measures a stock’s price per share compared to earnings. Price/Book measures a stock’s price per share to book value. Portfolio Turnover and Price/Earnings shown reflect the trailing 12-month period.Impact Characteristics
as of 6/30/26Tobacco Producer Exposure*
Companies involved in the production of tobacco.100% less than secondary benchmark** Guns and Ammunition Industry Exposure***
Companies that produce or sell guns and ammunition.100% less than secondary benchmark** Fossil Fuel Extraction Exposure****
Companies operating or servicing fossil fuel extraction.87 % less than secondary benchmark** Portfolio Impact Characteristics provide investors with specific non-traditional metrics. Alongside other metrics and information, these enable investors to evaluate funds on certain sustainability characteristics. These characteristics do not provide an indication of current or future performance, nor do they represent the potential risk and reward profile of a fund. They are provided for transparency and for information purposes only. These characteristics should not be considered solely or in isolation, but instead are one type of information that investors may wish to consider when assessing a fund.Sector Weighting
as of 6/30/26Information Technology 27.2% Consumer Discretionary 16.0% Health Care 12.7% Industrials 13.4% Consumer Staples 6.9% Financials 6.3% Communication Services 6.2% Utilities 4.6% Materials 3.5% Real Estate 3.0% Cash & Other 0.3% Portfolio Holdings
Top 10 Holdings
as of 7/9/26Name Ticker CUSIP Shares Market Value % of Net Assets Quanta Services Inc PWR 74762E102 4,616 $3,075,779.28 3.3% Hilton Worldwide Holdings Inc HLT 43300A203 9,125 $3,039,811.25 3.3% W R Berkley Corp WRB 084423102 42,569 $3,034,318.32 3.3% Best Buy Co Inc BBY 086516101 39,842 $3,110,464.94 3.3% WW Grainger Inc GWW 384802104 2,298 $3,101,702.52 3.3% Kroger Co/The KR 501044101 51,378 $3,047,742.96 3.3% FedEx Corp FDX 31428X106 9,857 $3,053,304.32 3.3% Charter Communications Inc CHTR 16119P108 22,851 $3,051,522.54 3.3% Cummins Inc CMI 231021106 4,556 $3,048,920.76 3.3% Costco Wholesale Corp COST 22160K105 3,275 $3,121,500.75 3.3% Total as % of Net Assets 33.0% Total Holdings: 49
as of 7/9/26Name Ticker CUSIP Shares Market Value % of Net Assets Quanta Services Inc PWR 74762E102 4,616 $3,075,779.28 3.3% Hilton Worldwide Holdings Inc HLT 43300A203 9,125 $3,039,811.25 3.3% W R Berkley Corp WRB 084423102 42,569 $3,034,318.32 3.3% Best Buy Co Inc BBY 086516101 39,842 $3,110,464.94 3.3% WW Grainger Inc GWW 384802104 2,298 $3,101,702.52 3.3% Kroger Co/The KR 501044101 51,378 $3,047,742.96 3.3% FedEx Corp FDX 31428X106 9,857 $3,053,304.32 3.3% Charter Communications Inc CHTR 16119P108 22,851 $3,051,522.54 3.3% Cummins Inc CMI 231021106 4,556 $3,048,920.76 3.3% Costco Wholesale Corp COST 22160K105 3,275 $3,121,500.75 3.3% Ford Motor Co F 345370860 224,429 $3,029,791.50 3.3% McKesson Corp MCK 58155Q103 3,807 $3,116,638.62 3.3% Starbucks Corp SBUX 855244109 29,589 $3,073,409.43 3.3% HCA Healthcare Inc HCA 40412C101 7,375 $3,028,248.75 3.2% HP Inc HPQ 40434L105 124,908 $2,970,312.24 3.2% DAVITA INC DVA 23918K108 13,110 $3,024,739.20 3.2% Regions Financial Corp RF 7591EP100 101,214 $3,018,201.48 3.2% Cardinal Health Inc CAH 14149Y108 12,105 $2,870,700.75 3.1% Biogen Inc BIIB 09062X103 14,330 $2,871,158.80 3.1% TJX Cos Inc/The TJX 872540109 18,751 $2,864,965.29 3.1% EMCOR Group Inc EME 29084Q100 3,692 $2,839,074.16 3.0% Applied Materials Inc AMAT 038222105 4,806 $2,741,823.00 2.9% Jabil Inc JBL 466313103 8,129 $2,643,632.09 2.8% LyondellBasell Industries NV LYB N53745100 40,855 $2,276,440.60 2.4% Advanced Micro Devices Inc AMD 007903107 4,056 $2,098,594.68 2.3% Microchip Technology Inc MCHP 595017104 23,888 $2,042,185.12 2.2% Seagate Technology Holdings PLC STX G7997R103 2,246 $1,931,604.92 2.1% Micron Technology Inc MU 595112103 1,965 $1,864,392.00 2.0% PG&E Corp PCG 69331C108 111,837 $1,906,820.85 2.0% Equity Residential EQR 29476L107 24,852 $1,697,640.12 1.8% Exelon Corp EXC 30161N101 33,003 $1,560,381.84 1.7% Corning Inc GLW 219350105 6,226 $1,145,770.78 1.2% Bunge Global SA BG H11356104 8,603 $991,323.69 1.1% Walmart Inc WMT 931142103 7,136 $807,081.60 0.9% Dell Technologies Inc DELL 24703L202 1,862 $804,328.14 0.9% Dow Inc DOW 260557103 21,297 $618,251.91 0.7% UDR Inc UDR 902653104 14,078 $560,726.74 0.6% Archer-Daniels-Midland Co ADM 039483102 7,041 $565,321.89 0.6% PepsiCo Inc PEP 713448108 3,997 $569,612.47 0.6% Nucor Corp NUE 670346105 2,427 $550,152.36 0.6% Western Digital Corp WDC 958102105 886 $487,565.80 0.5% Iron Mountain Inc IRM 46284V101 3,291 $379,978.86 0.4% Steel Dynamics Inc STLD 858119100 1,672 $382,486.72 0.4% AES Corp/The AES 00130H105 26,451 $387,242.64 0.4% Intel Corp INTC 458140100 2,875 $316,940.00 0.3% First American Government Obligations Fund 12/01/2031 FGXXX 31846V336 308,755 $308,755.21 0.3% Eversource Energy ES 30040W108 2,662 $196,455.60 0.2% SYCAMORE PARTNERS LLC -RIGHT BBG01SQXBKP2 BBG01SQXBKP2 167,900 Cash & Other - - 113,757 $113,757.29 0.1% Total as % of Net Assets 100.0% ** Data powered by YourStake Click here for methodology PDF
* Companies that produce cigarettes or tobacco products as classified by SEC
*** Companies involved in the manufacture or sales of weapons as classified by NGO Watchdog
**** Companies operating or serving in fossil fuel extraction as classified by NGO Watchdog
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Distributions
Ex Date Record Date Pay Date Ordinary Income Short-term Capital Gain Long-term Capital Gain Total 12/12/25 12/12/2025 12/15/2025 $0.336872710 - - $0.336872710 12/13/24 12/13/2024 12/16/2024 $0.291993710 - - $0.291993710 12/14/23 12/15/2023 12/18/2023 $0.023149270 - - $0.023149270 12/14/22 12/15/2022 12/16/2022 $0.146420130 - - $0.146420130 12/15/21 12/16/2021 12/17/2021 $0.097360300 - $0.023770000 $0.121130300 -
Fund Documents
Hennessy Sustainable ETF Documents
Sustainable ETF
Currently, paper copies of the annual and semi-annual reports are not sent by mail unless shareholders specifically request paper copies. You may elect to receive paper copies free of charge by contacting your financial intermediary.
**Please note the upcoming change to shareholder report delivery.**
Shareholder reports are now sent by mail unless a shareholder has elected or elects to receive reports electronically via e-delivery. To sign up for e-delivery, contact your financial intermediary.
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Our newest offering, Hennessy Sustainable ETF, is available online through brokerages and investment houses.
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