A high-conviction portfolio of about 30 genuine innovators, chosen through deep fundamental research — a 25-year strategy, now in an ETF.
Genuine innovators held at sensible valuations, not story stocks at any price.
Around 30 innovators, each held at approximately equal weight, so no single name dominates.
The Global Innovators strategy has run since 1998; GAIQ brings it to the ETF.
The Global Innovators ETF is the exchange-traded share class of the Global Innovators strategy, actively managed since 1998 (mutual fund classes IWIRX / GINNX). Roughly 30 holdings of approximately equal weight. GAIQ pays a single unitary management fee of 0.79% of average daily net assets; out of that fee the Adviser pays substantially all of the Fund's operating expenses (except items such as interest, taxes, brokerage commissions, acquired fund fees and expenses, and extraordinary expenses).
| Period | Fund NAV | Market price | Index* |
|---|---|---|---|
| YTD | 7.46% | 7.56% | 10.89% |
| 1 year | 7.51% | 7.61% | 12.11% |
| 3 year | 22.18% | 22.22% | 22.26% |
| 5 year | 9.84% | 9.86% | 10.49% |
| 10 year | 15.15% | 15.16% | 12.94% |
| Period | Fund NAV | Market price | Index* |
|---|---|---|---|
| YTD | 10.26% | 10.40% | 11.75% |
| 1 year | 14.06% | 14.20% | 15.24% |
| 3 year | 21.94% | 21.99% | 21.38% |
| 5 year | 11.26% | 11.29% | 11.88% |
| 10 year | 15.23% | 15.24% | 12.80% |
About this track record. The Fund’s Institutional Class shares were issued on December 31, 2015. Performance information shown for the Institutional Class prior to December 31, 2015, is based on the performance of the Fund’s Investor Class shares. Institutional and Investor class shares are mutual fund shares and are not exchange-traded. As of December 31, 2025, the Fund’s ETF Class Shares had not yet incepted. Performance shown prior to the inception date of the ETF Class shares is from the Portfolio’s Institutional Class shares, a mutual fund class of shares of the Portfolio not offered in this Prospectus. Returns for the ETF Class shares and Institutional Class shares may vary due to differences in their expenses. *The benchmark index is the MSCI World Index (NR). An investor cannot invest directly in an index.
Market Price: The current price at which shares are bought and sold. Market returns are based upon the last trade price.
NAV: The dollar value of a single share, based on the value of the underlying assets of the fund minus its liabilities, divided by the number of shares outstanding. Calculated at the end of each business day.
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. GAFunds NAVs are calculated using prices as of 4:00 PM Eastern Time. The closing price is the Mid-Point between the Bid and Ask price as of the close of exchange. Closing price returns do not represent the returns you would receive if you traded shares at other times.
Performance data quoted represents past performance and is no guarantee of future results. Investment returns and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than quoted. Performance data for the most recent month-end is available above.
Fund holdings and sector allocations are subject to change.
Morningstar assigns a rating only to funds with at least a three-year track record. GAIQ is a new ETF share class that is not separately rated; it will become eligible once it reaches three years. The Morningstar Rating™ is then calculated from a risk-adjusted return measure, with the top 10% of funds in a category receiving 5 stars and the bottom 10% receiving 1 star.
| Net Assets % | Ticker | Name | Description | Market Price ($) | Shares Held | Market Value ($) | CUSIP |
|---|---|---|---|---|---|---|---|
| 4.36% | TMO | THERMO FISHER SCIENTIFIC INC | COMMON STOCK | 718.20 | 39 | 27,850.86 | 883556102 |
| 4.29% | NDAQ | NASDAQ INC | COMMON STOCK | 110.02 | 249 | 27,433.77 | 631103108 |
| 4.23% | ROP | ROPER TECHNOLOGIES INC | COMMON STOCK | 474.47 | 57 | 27,038.15 | 776696106 |
| 4.14% | V | VISA INC-CLASS A SHARES | COMMON STOCK | 423.00 | 63 | 26,478.78 | 92826C839 |
| 4.09% | MSFT | MICROSOFT CORP | COMMON STOCK | 533.16 | 49 | 26,182.79 | 594918104 |
| 4.01% | AMZN | AMAZON.COM INC | COMMON STOCK | 270.87 | 95 | 25,624.03 | 023135106 |
| 3.97% | MA | MASTERCARD INC - A | COMMON STOCK | 658.84 | 38 | 25,356.45 | 57636Q104 |
| 3.94% | AAPL | APPLE INC | COMMON STOCK | 348.51 | 72 | 25,187.13 | 037833100 |
| 3.71% | ICE | INTERCONTINENTAL EXCHANGE IN | COMMON STOCK | 176.36 | 134 | 23,692.75 | 45866F104 |
| 3.66% | AMD | ADVANCED MICRO DEVICES | COMMON STOCK | 515.21 | 45 | 23,411.66 | 007903107 |
| 3.56% | MDT | MEDTRONIC PLC | COMMON STOCK | 101.59 | 224 | 22,757.87 | G5960L103 |
| 3.51% | DHR | DANAHER CORP | COMMON STOCK | 236.11 | 95 | 22,467.57 | 235851102 |
| 3.41% | LSEG | LONDON STOCK EXCHANGE GR | COMMON STOCK | 125.36 | 174 | 21,829.43 | G5689U103 |
| 3.40% | CRM | SALESFORCE INC | COMMON STOCK | 213.48 | 102 | 21,761.66 | 79466L302 |
| 3.30% | APH | AMPHENOL CORP-CL A | COMMON STOCK | 79.95 | 264 | 21,114.45 | 032095101 |
| 3.28% | SHL | SIEMENS HEALTHINEERS AG | COMMON STOCK | 47.93 | 437 | 20,945.59 | D6T479107 |
| 3.26% | TSM | TAIWAN SEMICONDUCTOR-SP ADR | COMMON STOCK | 396.48 | 53 | 20,866.23 | 874039100 |
| 3.23% | AVGO | BROADCOM INC | COMMON STOCK | 331.98 | 62 | 20,683.02 | 11135F101 |
| 3.18% | 2020 | ANTA SPORTS PRODUCTS LTD | COMMON STOCK | 10.12 | 2,011 | 20,350.65 | G04011105 |
| 3.18% | AME | AMETEK INC | COMMON STOCK | 238.31 | 85 | 20,307.49 | 031100100 |
| 3.02% | META | META PLATFORMS INC-CLASS A | COMMON STOCK | 641.39 | 30 | 19,322.84 | 30303M102 |
| 2.89% | GOOGL | ALPHABET INC-CL A | COMMON STOCK | 287.38 | 64 | 18,503.56 | 02079K305 |
| 2.84% | ABBN | ABB LTD-REG | COMMON STOCK | 83.58 | 218 | 18,189.91 | H0010V101 |
| 2.77% | NVDA | NVIDIA CORP | COMMON STOCK | 168.89 | 105 | 17,738.11 | 67066G104 |
| 2.54% | SU.FP | SCHNEIDER ELEC SA | COMMON STOCK | 262.71 | 62 | 16,213.80 | F86921107 |
| 2.53% | 700 | TENCENT HOLDINGS LTD | COMMON STOCK | 53.25 | 304 | 16,174.58 | G87572163 |
| 2.53% | KLAC | KLA CORP | COMMON STOCK | 152.99 | 106 | 16,173.66 | 482480100 |
| 2.45% | AMAT | APPLIED MATERIALS INC | COMMON STOCK | 372.53 | 42 | 15,636.43 | 038222105 |
| 2.34% | NFLX | NETFLIX INC | COMMON STOCK | 63.26 | 236 | 14,938.19 | 64110L106 |
| 2.28% | LRCX | LAM RESEARCH CORP | COMMON STOCK | 222.39 | 66 | 14,608.22 | 512807306 |
| 0.07% | USD | CASHUSD | CASH | 1.00 | 455 | 454.60 | CASHUSD |
| 0.02% | — | NET OTHER ASSETS | OTHER | 1.00 | 160 | 159.50 | — |
| Net Assets % | Ticker | Name | Description | Market Price ($) | Shares Held | Market Value ($) | CUSIP |
|---|---|---|---|---|---|---|---|
| 4.37% | TMO | THERMO FISHER SCIENTIFIC INC | COMMON STOCK | 721.63 | 39 | 27,971.24 | 883556102 |
| 4.23% | NDAQ | NASDAQ INC | COMMON STOCK | 108.50 | 249 | 27,042.57 | 631103108 |
| 4.20% | ROP | ROPER TECHNOLOGIES INC | COMMON STOCK | 471.64 | 57 | 26,864.76 | 776696106 |
| 4.18% | MSFT | MICROSOFT CORP | COMMON STOCK | 545.18 | 49 | 26,761.03 | 594918104 |
| 4.13% | V | VISA INC-CLASS A SHARES | COMMON STOCK | 422.16 | 63 | 26,414.30 | 92826C839 |
| 3.96% | AAPL | APPLE INC | COMMON STOCK | 350.69 | 72 | 25,333.25 | 037833100 |
| 3.95% | AMZN | AMAZON.COM INC | COMMON STOCK | 266.93 | 95 | 25,239.94 | 023135106 |
| 3.94% | MA | MASTERCARD INC - A | COMMON STOCK | 655.81 | 38 | 25,228.42 | 57636Q104 |
| 3.65% | ICE | INTERCONTINENTAL EXCHANGE IN | COMMON STOCK | 174.03 | 134 | 23,369.20 | 45866F104 |
| 3.61% | AMD | ADVANCED MICRO DEVICES | COMMON STOCK | 508.58 | 45 | 23,100.01 | 007903107 |
| 3.60% | MDT | MEDTRONIC PLC | COMMON STOCK | 102.79 | 224 | 23,016.32 | G5960L103 |
| 3.50% | DHR | DANAHER CORP | COMMON STOCK | 235.12 | 95 | 22,363.30 | 235851102 |
| 3.43% | LSEG | LONDON STOCK EXCHANGE GR | COMMON STOCK | 126.21 | 174 | 21,967.96 | G5689U103 |
| 3.42% | CRM | SALESFORCE INC | COMMON STOCK | 214.94 | 102 | 21,900.62 | 79466L302 |
| 3.33% | APH | AMPHENOL CORP-CL A | COMMON STOCK | 80.71 | 264 | 21,305.57 | 032095101 |
| 3.33% | SHL | SIEMENS HEALTHINEERS AG | COMMON STOCK | 48.77 | 437 | 21,303.42 | D6T479107 |
| 3.20% | TSM | TAIWAN SEMICONDUCTOR-SP ADR | COMMON STOCK | 388.62 | 53 | 20,443.36 | 874039100 |
| 3.18% | 2020 | ANTA SPORTS PRODUCTS LTD | COMMON STOCK | 10.11 | 2,010 | 20,330.13 | G04011105 |
| 3.17% | AME | AMETEK INC | COMMON STOCK | 238.24 | 85 | 20,292.40 | 031100100 |
| 3.11% | AVGO | BROADCOM INC | COMMON STOCK | 319.48 | 62 | 19,895.30 | 11135F101 |
| 3.02% | META | META PLATFORMS INC-CLASS A | COMMON STOCK | 641.37 | 30 | 19,313.57 | 30303M102 |
| 2.93% | NVDA | NVIDIA CORP | COMMON STOCK | 178.67 | 105 | 18,756.83 | 67066G104 |
| 2.90% | GOOGL | ALPHABET INC-CL A | COMMON STOCK | 288.15 | 64 | 18,544.79 | 02079K305 |
| 2.86% | ABBN | ABB LTD-REG | COMMON STOCK | 84.03 | 218 | 18,279.31 | H0010V101 |
| 2.54% | SU.FP | SCHNEIDER ELEC SA | COMMON STOCK | 263.59 | 62 | 16,260.71 | F86921107 |
| 2.54% | 700 | TENCENT HOLDINGS LTD | COMMON STOCK | 53.46 | 304 | 16,230.32 | G87572163 |
| 2.50% | KLAC | KLA CORP | COMMON STOCK | 151.38 | 106 | 15,996.25 | 482480100 |
| 2.43% | AMAT | APPLIED MATERIALS INC | COMMON STOCK | 370.55 | 42 | 15,546.31 | 038222105 |
| 2.36% | NFLX | NETFLIX INC | COMMON STOCK | 63.95 | 236 | 15,094.33 | 64110L106 |
| 2.27% | LRCX | LAM RESEARCH CORP | COMMON STOCK | 221.31 | 66 | 14,530.73 | 512807306 |
| 0.09% | USD | CASHUSD | CASH | 1.00 | 600 | 599.70 | CASHUSD |
| 0.04% | — | NET OTHER ASSETS | OTHER | 1.00 | 274 | 274.03 | — |
| Period | Days at a premium | Days at a discount |
|---|---|---|
| Calendar Year 2026 | — | — |
| Q3 2026 | — | — |
The Fund's shares are bought and sold at market price, which may differ from NAV.
Important risk information. Investing involves risk, including possible loss of principal. The strategy is non-diversified and concentrated in roughly 30 holdings, and invests heavily in technology and innovation-driven companies subject to rapid product cycles and sharp price swings. Foreign Securities Risk: investments outside the U.S. involve greater volatility and political, economic and currency risks. See the prospectus for more information.
Shares of an ETF are bought and sold at market price (not NAV) and are not individually redeemed from the fund. Brokerage commissions will reduce returns. The Funds are distributed by Foreside Fund Services, LLC, which is not affiliated with Guinness Atkinson Asset Management, Inc. Carefully consider the fund's objectives, risks, charges and expenses before investing; this and other information is in the prospectus, which should be read carefully before investing.