SNUG — Merlyn.AI Tactical Growth and Income ETF
Data updated: 2023-12-14
SNUG — Merlyn.AI Tactical Growth and Income ETF. Europe Blend / Core Thematic Equity · $9.04M AUM. Holdings, fees, performance and SEC filings.
SNUG Fund Overview
SNUG — Merlyn.AI Tactical Growth and Income ETF is a US ETF managed by EA Series Trust, categorised as Europe Blend / Core Thematic Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US ETF
- Manager: EA Series Trust
- Category: Europe Blend / Core Thematic Equity
- Assets under management: $9.04M
- 1-year return: -15.7%
- Ticker: SNUG
- SEC CIK: 0001592900
- SEC series ID: S000066453
- Share class ID: C000214348
SNUG Investment Objective and Strategy
Merlyn.AI Tactical Growth and Income ETF describes its objective and strategy as follows, from its latest prospectus filed with the SEC by EA Series Trust.
Investment objective
Merlyn.AI Tactical Growth and Income ETF (the Fund) seeks to track the total return performance, before fees and expenses, of the MAI Tactical Growth and Income Index (the Index).
Principal investment strategy
The Funds Investment Strategy The Fund employs a passive management (or indexing) investment approach designed to track the performance, before fees and expenses, of the Index. The Fund employs two different investment strategies depending on whether the Index anticipates a bull market or a bear market. In either case, the Fund will invest primarily in other exchange-traded funds (ETFs). When a bull market is anticipated, the Funds portfolio will generally reflect a classic conservative portfolio having approximately 30/70 stocks/bonds allocation weights. In addition, the Funds portfolio will generally have approximately 90/10 domestic/international equity allocation weights. In that case, the Fund will generally invest in eight ETFs that are considered sector ETFs, country ETFs, global/regions ETFs, dividend ETFs, and bond ETFs.
? Sector ETFs are ETFs invest primarily in one of several economic sector sub-categories, such as healthcare, energy, technology, and finance. ? Country ETFs are ETFs that invest primarily in a single country, which can be any country in the World. ? Global/Regions ETFs are ETFs that invest primarily in one of several broad geo-political region categories, such as global, Europe, Asia Pacific, North America, and emerging markets. ? Dividend ETFs are ETFs that invest primarily based on whether particular securities are anticipated to continue to generate dividends. ? Bond ETFs are ETFs that primarily invest in of several bond sub-categories, such as mid-duration treasuries, aggregate bonds, corporate bonds, mortgage bonds, municipal bonds, and high-yield bonds. Conversely, when a bear market is anticipated, the Fund will generally invest in four or more ETFs that typically have a more conservative risk profile compared to the bull market ETFs.
However, except as noted below, even when a bear market is anticipated, the Fund may invest in ETFs that are considered high-risk or are subject to equity market volatility, such as junk bond funds and broad-based U.S. equity market funds. When a bear market is anticipated, the Fund will invest primarily in ETFs that are considered: medium- and long-term treasury funds, aggregate bond funds, long-term bond funds, corporate bond funds, high-yield bond funds, gold funds, and broad-based U.S. equity market funds. However, if the Index anticipates a bear market due to excess market volatility, the Index will be limited to medium- and long-term treasury ETFs. The categories described above are viewed as general guidelines and the scope of each category is interpreted broadly. As a result, a single ETF may be included in more than one category.
Also, in some instances, the Index may select a broad U.S. equity market ETF instead of an ETF from one of the categories described above. Under normal circumstances, at least 80% of the Funds total assets (exclusive of collateral held from securities lending) will be invested in the component securities of the Index. Empowered Funds, LLC (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. The Fund will generally use a replication strategy to seek to achieve its investment objective, meaning the Fund will invest in all of the component securities of the Index in the same approximate proportions as in the Index, but may, when the Adviser believes it is in the best interests of the Fund, use a representative sampling strategy, meaning the Fund 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.
Up to 20% of the Funds assets may be held in cash and cash equivalents (including U.S. treasury bills), or in other ETFs not included in the Index but which the Adviser believes will help the Fund track the Index or as may be necessary for the Fund to comply with regulatory constraints (for example, potential limitations on investments in some underling ETFs). The Fund will be 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. The Index The Index seeks to determine whether U.S. equity markets appear to be in an advancing market (a Bull indicator) or appear to have an elevated risk of market decline (a Bear indicator). The Index uses a computer algorithm to make the assessment.
The Index will remain in a Bull mode (or a Bear mode), as the case may be, until the algorithm determines to shift from Bull to Bear (or vice versa). Shifts generally occur at calendar month end, but may occur mid-month if the algorithm anticipates significant market shifts. The Index uses a form of artificial intelligence that seeks to evolve and improve the selection of ETFs over time. A more detailed description of the Indexs methodology is provided below under the heading Additional Information About the Indices. As of September 30, 2021, the Index was weighted as follows: VanEck Fallen Angel High Yield Bond ETF (20%), SPDR Bloomberg Barclays High Yield Bond ETF (20%), iShares 0-5 Year High Yield Corporate Bond ETF (15%), iShares Broad USD High Yield Corporate Bond ETF (15%), iShares US Technology ETF (14%),Vanguard Mega Cap Growth ETF (5%), First Trust Rising Dividend Achievers ETF (5%), Schwab US Large-Cap Growth ETF (5%).
SNUG Performance
Total returns for SNUG (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | -15.7% |
| 3 years (annualised) | -0.0% |
SNUG Risk Information
Risk metrics for SNUG, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 11.3%
SNUG Costs and Fees
SNUG costs about $106 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.06%
- Gross expense ratio: 1.06%
- Portfolio turnover: 323%
SNUG Cashflows
Over the 12 months to 2022-09, Merlyn.AI Tactical Growth and Income ETF had net inflows of $89.86M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2022-09 | $487.20K |
| 2022-08 | $3.53M |
| 2022-07 | $8.18M |
| 2022-06 | $5.57M |
| 2022-05 | $3.31M |
| 2022-04 | $3.14M |
SNUG Debt Constituents
No individual debt constituents are reported in Merlyn.AI Tactical Growth and Income ETF's latest SEC N-PORT filing.
SNUG Prospectus and SEC Filings
Official Merlyn.AI Tactical Growth and Income ETF filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2022-01-28
- Prospectus (485BPOS) — filed 2021-02-09
- Prospectus (485BPOS) — filed 2019-10-21
- Portfolio holdings (N-PORT) — filed 2022-11-29
- Portfolio holdings (N-PORT) — filed 2022-08-19
- Portfolio holdings (N-PORT) — filed 2022-05-27
- Annual census (N-CEN) — filed 2023-12-14
- Annual census (N-CEN) — filed 2022-12-14
Related Funds
Other Europe Blend / Core Thematic 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.