STGF — Merk Stagflation ETF

STGF Fund Overview

STGF — Merk Stagflation ETF is a US ETF managed by Listed Funds Trust, categorised as Balanced Allocation. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

• Type: US ETF
• Manager: Listed Funds Trust
• Category: Balanced Allocation
• Assets under management: $1.08M
• 1-year return: 0.2%
• Ticker: STGF
• SEC CIK: 0001683471
• SEC series ID: S000076161
• Share class ID: C000235634

STGF Investment Objective and Strategy

Merk Stagflation ETF describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Listed Funds Trust.

Investment objective

The Merk Stagflation ETF (the Fund) seeks to track the performance, before fees and expenses, of the Solactive Stagflation TM Index (the Index).

Principal investment strategy

The Fund seeks to track the performance, before fees and expenses, of the Index which, in turn, seeks to track the performance of components that are expected to benefit, either directly or indirectly, from persistent inflation, including in an environment of weak economic growth (stagflation). The Index is owned and maintained by Solactive AG. Solactive Stagflation Index The Index is a rules-based index that allocates its exposure to the four funds listed below, each of which represents a stagflation-sensitive asset class. Asset Class Asset Allocation Minimum Asset Allocation Maximum Index Component U.S. Treasury Protected Securities 55% 85% Schwab U.S. TIPS ETF Real Estate 5% 15% Vanguard Real Estate ETF Gold 5% 15% VanEck Merk Gold Trust Oil 5% 15% Invesco DB Oil Fund Relative weights within the Index change according to a trend-following methodology, which follows a systematic process that is designed to identify price trends in gold, oil and real estate.

Weights in the Index are increased or decreased based on whether the respective price trends are upward or downward trending. A strong positive trend in any of the three asset classes will lead to a respective Index weight close to but not greater than 15% of the total asset allocation. A strong negative trend in any of the three asset classes will lead to a respective Index weight close to but not less than 5% of the asset allocation. The remainder of the asset allocation in the Index is balanced with an allocation to U.S. Treasury Protected Securities (TIPS), which are securities issued by the U.S. Treasury that are designed to provide inflation protection to investors. The Index is rebalanced whenever a change in price trend in gold, oil or real estate is detected or any of these asset classes has exceeded its minimum or maximum allocation, as described above.

The components of the Index include both exchange-traded investment companies (each, an ETF and collectively, ETFs) registered pursuant to the Investment Company Act of 1940 (the 1940 Act), similar to the Fund, and exchange-traded vehicles that are not registered investment companies and thus, not afforded all of the investor protections of the 1940 Act (together with ETFs, ETVs). Certain of the ETVs in which the Fund may invest may be commodity pools subject to regulation by the Commodity Futures Trading Commission, such as the Invesco DB Oil Fund. Allocation to an ETV allows the Index to indirectly obtain exposure to an underlying asset class such as TIPS and real estate or commodities such as gold or oil without investing in the individual securities that make up the ETV or taking physical delivery of the underlying investments or commodities.

The Funds Investment Strategy The Fund will generally use a replication strategy to achieve its investment objective, meaning it generally will invest in all of the components of the Index in approximately the same proportions as in the Index. However, the Fund may use a representative sampling strategy, meaning it may invest in a sample of the components in the Index whose risk, return and other characteristics closely resemble the risk, return and other characteristics of the Index as a whole, when the Adviser believes it is in the best interests of the Fund ( e.g. , when replicating the Index involves practical difficulties or substantial costs, an Index constituent becomes temporarily illiquid, unavailable, or less liquid, or as a result of legal restrictions or limitations that apply to the Fund but not to the Index).

The Fund also may invest in securities or other investments not included in the Index, but which the Adviser believes will help the Fund track the Index. For example, the Fund may invest in securities that are not components of the Index to reflect various corporate actions and other changes to the Index (such as reconstitutions, additions, and deletions). The Fund will invest, through the Subsidiary (as defined below), in the VanEck Merk Gold Trust (OUNZ), a physical gold ETV sponsored by the Adviser. As sponsor of OUNZ, the Adviser is entitled to a Sponsors Fee of 0.25% of the net asset value of OUNZ. The Fund expects to gain exposure to commodities by investing in a wholly-owned subsidiary of the Fund organized under the laws of the Cayman Islands (the Subsidiary). The Adviser also serves as the investment adviser to the Subsidiary.

The Funds investment in the Subsidiary is intended to provide the Fund with indirect exposure to commodities within the limits of current federal income tax laws applicable to investment companies such as the Fund, which limit the ability of investment companies to invest directly in commodities. The Subsidiary has the same investment objective as the Fund, but it may invest in commodities to a greater extent than the Fund. Except as otherwise noted, for purposes of this Prospectus, references to the Funds investments include the Funds indirect investments through the Subsidiary. Because the Fund intends to elect to be treated as a regulated investment company (RIC) under the Internal Revenue Code of 1986, as amended (the Code), the size of the Funds investment in the Subsidiary generally will be limited to 25% of the Funds total assets, tested at the end of each fiscal quarter.

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. The Fund is classified as a non-diversified investment company under the 1940 Act.

STGF Performance

Total returns for STGF (as of 2026-10-01), from SEC filings.

STGF Risk Information

Risk metrics for STGF, derived from monthly returns in SEC filings.

• 1-year volatility (annualised): 6.6%

STGF Costs and Fees

STGF costs about $44 per $10,000 invested per year in fund expenses.

• Net expense ratio: 0.44%
• Gross expense ratio: 0.44%
• Portfolio turnover: 84%
• Brokerage commissions: 5.91 bps of average net assets (SEC N-CEN)

STGF Cashflows

Over the 12 months to 2023-10, Merk Stagflation ETF had net inflows of $677.78K, from monthly SEC N-PORT filings.

STGF Debt Constituents

No individual debt constituents are reported in Merk Stagflation ETF's latest SEC N-PORT filing.

STGF Prospectus and SEC Filings

Official Merk Stagflation ETF filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2023-08-28
• Prospectus (485BPOS) — filed 2022-05-02
• Portfolio holdings (N-PORT) — filed 2023-12-14
• Portfolio holdings (N-PORT) — filed 2023-09-25
• Portfolio holdings (N-PORT) — filed 2023-06-28
• Annual census (N-CEN) — filed 2023-07-14

Related Funds

Other Balanced Allocation funds tracked on ABC INVEST:

• American Balanced Fund (ABALX)
• Vanguard Wellington Fund (VWELX)
• Franklin Income Fund (FKINX)
• T. Rowe Price Capital Appreciation Fund, Inc. (PRWCX)
• Vanguard Balanced Index Fund (VBINX)

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.