SANE — Subversive Mental Health ETF
Data updated: 2024-03-01
SANE — Subversive Mental Health ETF. Global (incl. US) Large Cap Blend / Core Health Care Equity · $569.28K AUM. Holdings, fees, performance and SEC filings.
SANE Fund Overview
SANE — Subversive Mental Health ETF is a US ETF managed by Series Portfolios Trust, categorised as Global (incl. US) Large Cap Blend / Core Health Care Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US ETF
- Manager: Series Portfolios Trust
- Category: Global (incl. US) Large Cap Blend / Core Health Care Equity
- Assets under management: $569.28K
- 1-year return: -7.8%
- Ticker: SANE
- SEC CIK: 0001650149
- SEC series ID: S000077932
- Share class ID: C000238612
SANE Investment Objective and Strategy
Subversive Mental Health ETF describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Series Portfolios Trust.
Investment objective
The Subversive Mental Health ETF (the Fund or the Mental Health Fund) seeks to achieve long-term capital appreciation.
Principal investment strategy
The Fund is an actively managed exchange-traded fund (ETF) that seeks to achieve its investment objective by investing under normal market conditions, at least 80% of its net assets (plus any borrowings for investment purposes) in securities of Mental Health Companies (as defined below). Mental Health Companies are companies that have at least 50% of assets or revenues tied to products and services used in the treatment, prevention, or diagnosis of long-term mental health disorders, including depression and Alzheimers. As mental health starts with metabolic health, assets or revenues tied to such disorders include assets in or revenues tied to the fitness, sleep, and nutrition products and services. The Adviser will also seek to identify Mental Health Companies working on new tools, treatments, and medications designed to help address the global toll of long-term mental health disorders, including major and minor depressive disorder, Alzheimers, Parkinsons and metabolic Epilepsy.
Securities eligible for inclusion in the Funds investable universe include publicly listed equity securities of U.S. and foreign (including emerging markets) issuers. The Funds investments in foreign securities may include American Depositary Receipts (ADRs), Global Depositary Receipts (GDRs), International Depositary Receipts (IDRs), U.S. dollar denominated foreign securities, direct foreign securities purchased on a foreign exchange, and securities of companies incorporated outside the United States. In selecting investments for the Fund, the Adviser will apply a top-down approach, utilizing primarily quantitative factors, focusing on Mental Health Companies that are cash flow positive. However, the Adviser may also considering qualitative factors with a view toward growth and earning potential.
In the selection process, the Adviser will give greater weight to Mental Health Companies whose primary business models and growth prospects are dedicated to mental health and fitness. When determining the companies eligible to be considered Mental Health Companies, the Fund will also invest in Mental Health Companies with assets in or revenues from fitness, sleep, and nutrition products or services, as metabolic health is widely considered as a core component in the prevention of mental health disorders. Metabolic disorders are estimated to impact as much as 40% of the American population, with similar trends appearing globally. Accordingly, the Fund will invest in companies involved in the testing, diagnosis, and promotion of metabolic health. In addition, the Adviser will include in the universe of Mental Health Companies those companies that provide mental health solutions, from devices to pharmaceuticals.
The Adviser will consider for inclusion in the Funds portfolio companies that provide lower cost or small-scale solutions from medical devices to software applications, as well as large-scale pharmaceutical interventions aimed at addressing depression and pain management, and long-term solutions to both. The Fund is classified as non-diversified for purposes of the Investment Company Act of 1940 (the 1940 Act), which means a relatively high percentage of the Funds assets may be invested in the securities of a limited number of companies.
SANE Holdings
Top 10 holdings of Subversive Mental Health ETF by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| First American Government Obli | 12.66% |
| Dexcom Inc | 7.59% |
| West Pharmaceutical Services I | 6.19% |
| Novo Nordisk A/S | 5.94% |
| Eli Lilly & Co | 5.94% |
| Regeneron Pharmaceuticals Inc | 5.09% |
| adidas AG | 5.04% |
| Novartis AG | 4.91% |
| Apple Inc | 4.84% |
| Gsk PLC | 4.61% |
SANE Portfolio Allocation
Asset-class allocation of Subversive Mental Health ETF by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 86.2% |
| Cash & Equivalents | 12.7% |
SANE Performance
Total returns for SANE (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | -7.8% |
SANE Risk Information
Risk metrics for SANE, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 14.8%
SANE Costs and Fees
SANE costs about $76 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.76%
- Gross expense ratio: 0.76%
- Portfolio turnover: 206%
- Brokerage commissions: 14.27 bps of average net assets (SEC N-CEN)
SANE Cashflows
Over the 12 months to 2023-12, Subversive Mental Health ETF had net inflows of $0, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2023-12 | $0 |
| 2023-11 | $0 |
| 2023-10 | $0 |
| 2023-09 | $0 |
| 2023-08 | $0 |
| 2023-07 | $0 |
SANE Debt Constituents
No individual debt constituents are reported in Subversive Mental Health ETF's latest SEC N-PORT filing.
SANE Prospectus and SEC Filings
Official Subversive Mental Health ETF filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
Related Funds
Other Global (incl. US) Large Cap Blend / Core Health Care 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.