GQG’s Active ETF GQGU
The GQG US Equity ETF reflects GQG’s highest conviction ideas in the US equity universe, giving investors an actively managed portfolio with the potential to help meet their most aspirational objectives.
2Source: Morningstar. The average fee for the 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.
Aiming to unlock outperformance through adaptability
Active ETFs have the potential to outperform their benchmark and effectively navigate dynamic markets, to help reduce the impact of losses in down markets.
Active ETFs offer the trading flexibility and accessibility characteristic of passive ETFs, while incorporating professional active management. Unlike passive ETFs that typically track an index, active ETFs involve investment professionals who make strategic decisions regarding security selection, sector allocation, and adapting to changing market conditions to achieve specific investment objectives.
| Features | Active ETF | Passive ETF | Active Mutual Fund |
| Outperformance potential3 | ✔ | ✔ | |
| Active management | ✔ | ✔ | |
| Downside risk management | ✔ | ✔ | |
| Adaptable to changing markets | ✔ | ✔ | |
| May invest in holdings outside of benchmark | ✔ | ✔ | |
| Tax efficiency4 | ✔ | ✔ | |
| Intraday trading5 | ✔ | ✔ | |
| Daily holdings transparency6 | ✔ | ✔ | |
| Low fees7 | ✔ | ✔ | ✔ |
| Diversification8 | ✔ | ✔ | ✔ |
| Low investment minimums | ✔ | ✔ | ✔ |
3While active ETFs seek to outperform their benchmark, there is also the risk that the ETF may underperform the benchmark. Past performance is no guarantee of future results.
4“In-Kind” creation/redemption process for ETFs allows for the potential for reduced taxes for capital gains in accounts that are not tax-deferred.
5ETFs can be bought or sold during the trading day while mutual funds only trade once per day at that day’s net asset value when the stock market closes.
6Not all active ETFs are as transparent as passive, but both tend to be more transparent than a mutual fund.
7While both active and passive ETFs typically have lower fees than mutual funds, passive ETFs generally have lower fees.
8Diversification does not guarantee profit or protect against loss in a declining market.
Explore the potential of active investing
Compounding capital with active management
GQG’s active management style for US equities has historically delivered lower volatility and superior performance compared to the benchmark, as well as both active and passive ETF products within the same category.
Piloting Investment Innovation
| 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 |
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.
| 5-YEAR ROLLING RETURNS For the 5-year rolling time period ending 30 June 2025 | GQG US Equity ETF (net of fees) % | S&P 500 Index % | Alpha for GQG US Equity ETF vs S&P 500 |
| 07/01/2020 – 06/30/2025 | 14.60 | 16.64 | 0.38 |
| 06/01/2020 – 05/31/2025 | 14.98 | 15.94 | 1.14 |
| 05/01/2020 – 04/30/2025 | 16.00 | 15.61 | 2.03 |
| 04/01/2020 – 03/31/2025 | 19.26 | 18.59 | 2.60 |
| 03/01/2020 – 02/28/2025 | 19.41 | 16.85 | 4.65 |
| 02/01/2020 – 01/31/2025 | 18.06 | 15.17 | 4.73 |
| 01/01/2020 – 12/31/2024 | 16.90 | 14.53 | 4.23 |
| 12/01/2019 – 11/30/2024 | 18.80 | 15.77 | 5.07 |
| 11/01/2019 – 10/31/2024 | 18.19 | 15.27 | 4.94 |
| 10/01/2019 – 09/30/2024 | 18.98 | 15.98 | 5.13 |
| 09/01/2019 – 08/31/2024 | 18.54 | 15.92 | 4.82 |
| 08/01/2019 – 07/31/2024 | 17.66 | 15.00 | 4.75 |
Source: Morningstar, GQG.
1Alpha 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)]. The 5-year rolling periods are calculated on a monthly basis, beginning with the period from 8/1/2019 to 7/31/2024, and ending with the period from 7/1/2020 to 6/30/2025. Past performance does not guarantee future results.
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.
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.
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.
