AKAF — The Frontier Economic Fund
Data updated: 2026-07-29
AKAF — The Frontier Economic Fund. 0.20% expense ratio · since 2025. Holdings, fees, performance and SEC filings.
AKAF Fund Overview
AKAF — The Frontier Economic Fund is a US ETF managed by ETF Series Solutions, categorised as United States Multi-Cap / All-Cap Blend / Core Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US ETF
- Manager: ETF Series Solutions
- Category: United States Multi-Cap / All-Cap Blend / Core Equity
- Assets under management: $2.94M
- 1-year return: 33.3%
- Ticker: AKAF
- SEC CIK: 0001540305
- SEC series ID: S000093209
- Share class ID: C000261363
AKAF Investment Objective and Strategy
The Frontier Economic Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by ETF Series Solutions.
Investment objective
The Frontier Economic Fund (the Fund) seeks to track the performance, before fees and expenses, of The Alaska Last Frontier Index (the Index).
Principal investment strategy
The Fund employs a passive management - or indexing - investment approach designed to track the performance of the Index. The Alaska Last Frontier Index The Index is a rules-based strategy index comprised of U.S. and non-U.S. listed equity securities of companies and MLPs that have exposure to the State of Alaska through their engagement in Alaskan Business Activities (defined below) (Alaska Companies), as determined by the index methodology criteria developed by Vident Asset Management (Vident or the Adviser). The starting universe of eligible companies in the Index consists of companies with market capitalization of at least $100 million (excluding non-traded shares). Companies eligible for inclusion must also meet certain minimum liquidity requirements. The Index identifies and selects companies for inclusion using criteria designed to evaluate the extent of a companys business activities connected to Alaska, including involvement in the states economic development through state revenue and GDP growth, job creation for Alaskan residents, having a local operational presence and physical assets in the State, and/or playing a role in Alaskas long-term development.
To be eligible for inclusion in the Index, a company must meet one of the following criteria related to its business activities in Alaska: (1) Operational Presence, or (2) Capital Investment, each as defined below (together, Alaskan Business Activities). To demonstrate Operational Presence in Alaska, a company must (i) employ full-time or part-time workers within Alaska or (ii) be physically present through the location of its regional headquarters, logistics hubs, retail outlets or other infrastructure in Alaska. To demonstrate Capital Investment, a company must (i) engage in strategic partnerships in Alaska ( e.g. , collaborations or formal partnerships within Alaska, including those with government entities, private enterprises, or publicly traded companies) or (ii) make fixed asset investments in Alaska ( e.g.
, deployment of capital in mines, ports, pipelines, data centers, or other substantial infrastructure). Such data is collected from, but not limited to, a companys press releases, public regulatory filings, documents provided by a companys investment relations department, and other publicly available sources. If a companys exposure to Alaskan Business Activities is below a minimum threshold, as determined by this criteria, the company will be excluded from the Index. Eligible companies are weighted according to their market capitalization tier, defined as large-cap for all stocks in the top 70% of the investable universe by market capitalization, mid-cap for the next 20%, and small-cap for the remaining stocks. Upward adjustments to weighting are made programmatically to emphasize companies belonging to sectors that are particularly significant to Alaskas economy as measured by Alaskas share of U.S.
GDP attributable to that sector. Accordingly, companies belonging to sectors deemed more central to the states economic profile, as determined by these criteria, are eligible to receive a higher weighting in the Index. Index components are selected and weighted based on the above factors, subject to certain adjustments and limitations, including the following constraints: market capitalization, maximum allocation to a single security, minimum allocation to a single security, and minimum liquidity threshold. All Index rules are systematized and rely on data available at the end of each rebalancing period. The Index is reconstituted and rebalanced semi-annually in February and August. The Index was created by Vident in 2025 for use by the Fund. The Funds Investment Strategy Under normal circumstances, the Fund invests primarily in equity securities of Alaska Companies.
The Fund attempts to invest all, or substantially all, of its assets in the common stocks that make up the Index. The Fund will generally use a replication strategy to achieve its investment objective, meaning it may invest in all of the component securities of the Index, but may, when Vident believes it is in the best interests of the Fund, use a representative sampling strategy, meaning it may invest in a sample of the securities in the Index whose risk, return and other characteristics closely resemble the risk, return and other characteristics of the Index as a whole. The Adviser expects that, over time, the correlation between the Funds performance and that of the Index, before fees and expenses, will be 95% or better. To the extent the Index concentrates ( i.e. , holds more than 25% of its total assets) in the securities of a particular industry or group of related industries, the Fund will concentrate its investments to approximately the same extent as the Index.
As of May 31, 2026, the Index, and consequently the Fund, had significant exposure to the industrial, energy, and consumer discretionary sectors and as of May 31, 2026, the Index was not concentrated in any industry or group of industries. The Fund is considered to be non-diversified, which means that it may invest more of its assets in the securities of a single issuer or a smaller number of issuers than if it were a diversified fund.
AKAF Holdings
Top 10 holdings of The Frontier Economic Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| FedEx Corp | 2.18% |
| SLB Ltd | 2.15% |
| ConocoPhillips | 2.11% |
| Uber Technologies Inc | 2.01% |
| Exxon Mobil Corp | 1.99% |
| DoorDash Inc | 1.98% |
| United Parcel Service Inc | 1.89% |
| Royal Caribbean Cruises Ltd | 1.84% |
| Delta Air Lines Inc | 1.63% |
| Repsol SA | 1.60% |
AKAF Portfolio Allocation
Asset-class allocation of The Frontier Economic Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 99.3% |
| Cash & Equivalents | 0.6% |
AKAF Performance
Total returns for AKAF (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 12.54% |
| 1 year | 33.35% |
AKAF Risk Information
Risk metrics for AKAF, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 13.26%
AKAF Costs and Fees
AKAF costs about $20 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.20%
- Gross expense ratio: 0.20%
- Portfolio turnover: 29%
- Brokerage commissions: 4.27 bps of average net assets (SEC N-CEN)
AKAF Cashflows
Over the 12 months to 2026-05, The Frontier Economic Fund had net inflows of $2.34M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-05 | $0 |
| 2026-04 | $0 |
| 2026-03 | −$661.50K |
| 2026-02 | $660.49K |
| 2026-01 | $0 |
| 2025-12 | $0 |
AKAF Debt Constituents
No individual debt constituents are reported in The Frontier Economic Fund's latest SEC N-PORT filing.
AKAF Prospectus and SEC Filings
Official The Frontier Economic Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
Related Funds
Other United States Multi-Cap / All-Cap Blend / Core Equity funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.