Little Harbor AdvisorsEquity HedgedMSTB · Cboe BZX

LHA Market State Tactical Beta ETF (MSTB)

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Price: $43.94; —11 Sept 2026
Assets: $198M; Total net assets
Expense ratio: 1.38%; Category 1.18%
Yield: 0.37%; Trailing distributions

1Y return: 12.6%+0.5%; Category 12.1%
3Y CAGR: 17.8%+3.2%; Category 14.6%
5Y CAGR: 7.8%0.0%; Category 7.8%

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LHA Market State Tactical Beta ETF

Calendar-year returns

Fund only: no comparison series covers this fund's history.

Risk statistics

Five years of daily closes. Risk-free rate 4% a year.

Standard deviation: —
Maximum drawdown: —
Sharpe ratio: —
Sortino ratio: —
Beta: —
Alpha: —
R²: —
Information ratio: —
Upside capture: —
Downside capture: —
Tracking error: —

Trailing returns compared with benchmark
Period	1M	3M	6M	YTD	1Y	3YCAGR	5YCAGR	10YCAGR	LaunchCAGR
ETF	-0.9%	+2.9%	+12.4%	+10.1%	+12.6%	+17.8%	+7.8%	—	+11.1%
Equity Hedged average	-1.0%	0.8%	10.4%	9.1%	12.1%	14.6%	7.8%	8.9%	11.2%
Difference	+0.1%	+2.1%	+2.0%	+1.0%	+0.5%	+3.2%	0.0%	—	-0.1%

Holdings

The 3 largest positions make up 89.7% of the fund.

Top holdings

Largest holdings by weight
Ticker	Holding	Weight
SPY	State Street® SPDR® S&P 500® ETF	82.53%
FGXXX	First American Government Obligs X	3.57%
FXFXX	First American Treasury Obligs X	3.57%

Portfolio valuation

Weighted averages of what the fund holds.

P/E: 24.7
P/B: 5.3
P/S: 3.6
P/CF: 19.0

Sector allocation

Share of the equity the fund holds.

Technology38.2%
Financial services12.1%
Communication services9.7%
Consumer discretionary9.4%
Health care9.3%
Industrials7.9%
Consumer staples4.5%
Energy3.4%
Utilities2.0%
Real estate1.8%
Materials1.7%

Asset mix

Stocks107.3%
Bonds6.1%

Credit quality

Share of the bonds by rating.

US government9.2%

ETF details

Issuer: Little Harbor Advisors
Category: Equity · Equity Hedged
Ticker: MSTB
Exchange: Cboe BZX
Inception: 29 Sept 2020 (5.9 years)
Structure: Exchange Traded Fund
Expense ratio: 1.38% (category 1.18%)
Holdings turnover: 2% (category 104%)
Distribution yield: 0.37%
Beta, 3 years: 0.91
Total net assets: $198M

Prices and returns as of 11 Sept 2026; total return with distributions reinvested, before brokerage and taxes. Not investment advice.

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