Active ETFs have flooded the market
While ETFs have traditionally been associated with passive management styles, more active ETFs have come to market over recent years. Many investors are using ETF vehicles to gain active equity exposure.
Since active ETFs entered the market in 2008, assets under management have grown rapidly, recently surpassing the $1 trillion mark in 2025 and are anticipated to accumulate nearly $11 trillion in assets by 2035.
Ticker: GQGU
— Seeking long-term outperformance
in both up and down markets
—Highly active management that aims to adapt to prevailing market conditions
—Low fees to help maximize your investment return potential
Active ETFs in the US are predicted to grow 13x between 2024 and 2035
But not all active ETFs are created equal
Of the 407 active US Equity ETFs that have entered the market since 31 July 2019, only 69 have a 5-year track record. Of those remaining ETFs, only seven have a track record of producing positive alpha versus the S&P 500, and the GQG US Equity ETF is the top performing ETF among them.
Redefining active investing
Aiming to unlock outperformance through adaptability
In our view, GQG’s ability to adapt to ever-changing market conditions may offer an advantage over other active ETF managers who may be constrained to a growth or value style box.
We believe our hands-on approach to active management, paired with our benchmark- and style-agnostic investment philosophy,1 offers us the flexibility to quickly capture new market opportunities and effectively manage risks.
Compounding capital with active management
GQG’s active management style for US equities has historically provided lower downside capture2 in market drawdowns compared to the S&P 500 Index.
Our focus on reducing downside risk seeks to provide investors with less volatility3 and the potential for long-term outperformance and enhanced returns.
2The downside capture ratio is 84.77% for GQGU versus the S&P 500 Index for the since inception period through 30 June 2025.
Piloting Investment Innovation
GQG US Equity ETF
The performance data quoted represents past performance, and current returns may be higher or lower. Past performance does not guarantee future results. View additional fund performance and information.
Seeking high-quality alpha at an affordable cost
One of GQG’s guiding principles is that active managers should deliver alpha4 over the comparative index—otherwise, there is little reason for an investor to choose an active strategy over a passive one.
Many active ETFs charge more in fees than the average passive product yet fall short in providing additional alpha, leaving investors with the worst of both worlds–higher fees and suboptimal performance.
Since inception, GQG’s US Equity ETF has delivered long-term alpha of 2.6%, outperforming the average peer by 5.6%, while charging a competitively low fee of 0.49% compared to the peer average of 0.75%5.
| TOTAL RETURNS AS OF 30 June 2025 | 1 YR | 3 YRS | 5 YRS | SINCE INCEPTION* (31 Jul 2019) |
| GQGU NAV % | -0.09 | 13.93 | 14.60 | 15.15 |
| GQGU Market Price % | -0.09 | 13.93 | 14.60 | 15.15 |
| S&P 500 Index % | 15.16 | 19.71 | 16.64 | 14.79 |
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Total Annual Fund Operating Expenses (Gross) 0.59%. Total Annual Fund Operating Expenses 0.49%. GQG Partners is contractually waiving fees until 31 July 2026.
The performance data quoted above represent past performance and do not guarantee future results. Current performance of the Fund may be lower or higher than the performance quoted. Performance data current to the most recent month-end may be obtained by visiting the GQG US Equity ETF page. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Returns greater than one year are annualized. Net returns may reflect waiver agreements to limit the Fund’s expenses and are reflected in the performance shown. Performance would further be reduced if the waiver agreements were not in effect.
*The GQG US Equity ETF (the “ETF”) commenced operations on 14 July 2025. Performance shown for periods prior to this date reflects the returns of the GQG Partners US Equity Fund (the “Predecessor Fund”) through 11 July 2025, with an adjustment for ETF fees. Market Price returns prior to 11 July 2025 reflect the Predecessor Fund’s NAV returns. The Predecessor Fund, which began on 31 July 2019, was managed in a materially equivalent manner using substantially similar investment objectives, policies, and restrictions as the ETF, but was not subject to the same investment and tax requirements. The ETF has adopted the Predecessor Fund’s inception date of 31 July 2019, for performance reporting purposes. Past performance, before and after taxes, does not guarantee future results.
Additional information about the Predecessor Fund and the reorganization may be found in the GQG US Equity ETF Prospectus.
FOR FINANCIAL PROFRESSIONAL USE ONLY. NOT FOR DISTRIBUTION TO THE PUBLIC.
You should carefully consider the investment objective, risks, charges, and expenses of the Fund before investing. The Fund’s prospectus and summary prospectus contain this and other important information about the Fund, which can be obtained by dialing +1 (866) 362-8333 or visiting gqg.com/documents. Please read the prospectus carefully before investing. The Fund’s Statement of Additional Information can also be obtained by dialing +1 (866) 362 8333 or visiting gqg.com/documents.
Understanding Investment Risk
Investing involves risks, including loss of principal. There is no guarantee the Fund will achieve its stated objective. Investments in the United States may result in the Fund being more susceptible to economic, political, regulatory, or other events or conditions affecting issuers within the United States. They may be subject to greater price volatility and risk of loss than a fund holding more geographically diverse investments. International investments may also be susceptible to the same events or conditions as well as unfavorable fluctuations in currency values, or differences in generally accepted accounting principles in other nations. The Fund is non-diversified. In addition to the normal risks associated with investing, investments in small-and mid-size companies may be more volatile and less liquid than those of large companies. The Fund may invest in initial public offerings (IPOs) whose share values can vary widely due to limited trading experience and company information. Investing in IPOs carries higher risks and costs compared to established companies, along with market and liquidity risks. The Fund may trade frequently, increasing transaction costs and taxes due to short-term gains. Its performance depends on the Adviser’s investment decisions, which may not always be accurate, potentially leading to underperformance compared to similar funds.
Any account or fund advised by GQG involves significant risks and is appropriate only for those persons who can bear the economic risk of the complete loss of their investment. There is no assurance that any account or fund will achieve its investment objective.
Exchange Traded Funds (ETFs) are bought and sold through exchange trading at market price (not NAV) and shares are not individually redeemed from the fund. Shares may trade at a premium or discount to their NAV in the secondary market. Brokerage commissions will reduce returns.
Premium/Discount is the percent difference between the Market price and the NAV price. Market price returns are based on the official closing price of an ETF share or, if the official closing price isn’t available, the midpoint between the national best bid and national best offer (“NBBO”) as of the time the ETF calculates current NAV per share. NAVs are calculated using prices as of 4:00 PM Eastern Time.
The GQG US Equity ETF is an actively managed ETF that does not seek to replicate the performance of the S&P 500 Index.
SEI Investment Distribution Co. (SIDCO) is the distributor for the GQG US Equity ETF. SIDCO is not affiliated with GQG Partners. Check the background of SIDCo on FINRA’s BrokerCheck.
IMPORTANT INFORMATION
1Benchmark- and style-agnostic refers to an investment strategy that does not rely on a specific market index, benchmark, or investment style (value, blend, growth) for performance evaluation. Instead, the investment strategy focuses on achieving specific investment goals without being constrained by the performance of a particular benchmark or investment style.
2Downside Capture Ratio: Performance in periods where the benchmark was down.
3Volatility indicates how much and how quickly the price of an asset, like an ETF, fluctuates. High volatility implies large and rapid price swings, while low volatility suggests relatively stable prices.
4Alpha represents the fund’s risk-adjusted excess return relative to its benchmark, calculated using Jensen’s Alpha methodology. Jensen’s Alpha is a performance measure that adjusts a portfolio’s return for the level of market risk taken, using the formula: Alpha = Portfolio Return − [Risk-Free Rate + Beta × (Market Return − Risk-Free Rate)].
5Source: Morningstar, GQG. The average alpha for the US Fund Large Blend category is -3.00% as of 30 June 2025. The average fee for US Fund Large Blend category is 0.75% as of 30 June 2025. US Fund Large Blend peer group Large-blend portfolios are fairly representative of the overall U.S. stock market in size, growth rates, and price. Stocks in the top 70% of the capitalization of the U.S. equity market are defined as large cap. The blend style is assigned to portfolios where neither growth nor value characteristics predominate. These portfolios tend to invest across the spectrum of U.S. industries, and owing to their broad exposure, the portfolios’ returns are often similar to those of the S&P 500 Index.
The information provided on this website has not been audited; does not constitute investment advice; is not a recommendation to follow any strategy or allocation; should not be substituted for the exercise of one’s own judgement; and no investment decision should be made based upon it. In addition, neither is it a recommendation, offer, or solicitation to sell or buy any security or to purchase of shares in any fund or establish any separately managed account. It should not be assumed that any recommendations made by GQG will be profitable or will equal the performance of any securities discussed herein. This website reflects the views of GQG as of a particular time; these views may change without notice. Any forward-looking statements or forecasts are based upon assumptions and actual results may vary. GQG provides this website and its content for informational purposes only. While GQG has gathered the information in good faith from sources it deems to be reliable, GQG does not represent or warrant that any information, without limitation, is accurate, reliable, or complete, and it should not be relied upon as such.
Before making any investment decision, you should seek expert, professional advice, including tax advice, and obtain information regarding the legal, fiscal, regulatory, and foreign currency requirements for any investment according to the law of your home country, place of residence, or current abode.
Before investing in any strategy, you should consider the risks of the strategy as well as whether the strategy is appropriate based upon your investment objective(s) and risk tolerance. There may be additional risks associated with international and emerging markets investing involving foreign, economic, political, monetary, and/or legal factors. International investing is not for everyone. You can lose money by investing in securities.
INFORMATION ABOUT BENCHMARKS
The S&P 500 Index is a float-adjusted market cap weighted equity index of stocks of 500 leading companies in the United States. The S&P 500 Index is a product of S&P Dow Jones Indices LLC, a division of S&P Global, or its affiliates (SPDJI) and has been licensed for use by GQG Partners LLC. Standard & Poor’s® and S&P® are registered trademarks of Standard & Poor’s Financial Services LLC, a division of S&P Global (S&P); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (Dow Jones). GQG Partners LLC is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates, and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the S&P 500 Index.
Information about benchmark indices is provided to allow you to compare it to the performance of GQG strategies. Investors often use these well-known and widely recognized indices as one way to gauge the investment performance of an investment manager’s strategy compared to investment sectors that correspond to the strategy. However, GQG’s investment strategies are actively managed and not intended to replicate the performance of the indices: the performance and volatility of GQG’s investment strategies may differ materially from the performance and volatility of their benchmark indices, and their holdings will differ significantly from the securities that comprise the indices. You cannot invest directly in indices, which do not take into account trading commissions and costs. Net total return indices reinvest dividends after the deduction of withholding taxes, using (for international indices) a tax rate applicable to non-resident institutional investors who do not benefit from double taxation treaties.
