{
 "ticker": "NRSH",
 "name": "Aztlan North America Nearshoring Stock Selection ETF",
 "issuer": "not established",
 "desk": "themes",
 "url": "https://etfiq.com/funds/NRSH",
 "html": "https://etfiq.com/funds/NRSH",
 "markdown": "https://etfiq.com/funds/NRSH.md",
 "as_of": "2026-09-11",
 "verdict": "NRSH holds 30 stocks, and 61% of its weight is outside the S&P 500.",
 "key_facts": [
  {
   "key": "already_in_the_s_p_500",
   "label": "Already in the S&P 500",
   "value": "39.1%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "NRSH, already in the S&P 500: 39.1%, as of Sep 11, 2026."
  },
  {
   "key": "active_share_vs_the_s_p_500",
   "label": "Active share vs the S&P 500",
   "value": "92.6%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "NRSH, active share vs the S&P 500: 92.6%, as of Sep 11, 2026."
  },
  {
   "key": "top_ten_holdings",
   "label": "Top ten holdings",
   "value": "39.8%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "NRSH, top ten holdings: 39.8%, as of Sep 11, 2026."
  },
  {
   "key": "total_return_1_year",
   "label": "Total return, 1 year",
   "value": "+34.7%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "NRSH, total return, 1 year: +34.7%, as of Sep 11, 2026."
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$28m",
   "source": "SEC filing, whole fund, as filed for Apr 30, 2026",
   "as_of": "2026-09-11",
   "sentence": "NRSH, net assets: $28m (SEC filing, whole fund, as filed for Apr 30, 2026)."
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "0.76%",
   "source": "485BPOS XBRL, Nov 24, 2025",
   "as_of": "2026-09-11",
   "sentence": "NRSH, expense ratio: 0.76% (485BPOS XBRL, Nov 24, 2025)."
  }
 ],
 "fields": [
  {
   "key": "theme",
   "label": "Theme",
   "value": "Reshoring and manufacturing",
   "source": "ETFIQ, editorial"
  },
  {
   "key": "launched",
   "label": "Launched",
   "value": "Nov 30, 2023",
   "source": null
  },
  {
   "key": "already_in_the_s_p_500_by_weight",
   "label": "Already in the S&P 500, by weight",
   "value": "39.1%",
   "source": "ETFIQ"
  },
  {
   "key": "active_share_vs_the_s_p_500",
   "label": "Active share vs the S&P 500",
   "value": "92.6%",
   "source": "ETFIQ"
  },
  {
   "key": "already_in_the_nasdaq_100_by_weight",
   "label": "Already in the Nasdaq-100, by weight",
   "value": "20.3%",
   "source": "ETFIQ"
  },
  {
   "key": "active_share_vs_the_nasdaq_100",
   "label": "Active share vs the Nasdaq-100",
   "value": "88.9%",
   "source": "ETFIQ"
  },
  {
   "key": "top_ten_holdings_weight",
   "label": "Top ten holdings weight",
   "value": "39.8%",
   "source": null
  },
  {
   "key": "holdings",
   "label": "Holdings",
   "value": "30",
   "source": null
  },
  {
   "key": "holdings_as_of",
   "label": "Holdings as of",
   "value": "Apr 30, 2026",
   "source": "SEC N-PORT"
  },
  {
   "key": "top_holdings",
   "label": "Top holdings",
   "value": "Sanmina Corp 4.7%, Ciena Corp 4.3%, Celestica Inc 4.2%, MYR Group Inc 4.2%, Microchip Technology Inc 4.1%, TFI International Inc 3.8%, MasTec Inc 3.7%, Ryerson Holding Corp 3.6%, Analog Devices Inc 3.6%, DXP Enterprises Inc/TX 3.6%",
   "source": null
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$28m",
   "source": "SEC filing, whole fund, as filed for Apr 30, 2026"
  },
  {
   "key": "below_its_all_time_high",
   "label": "Below its all-time high",
   "value": "\u221211.6%",
   "source": "ETFIQ"
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "0.76%",
   "source": "485BPOS XBRL, Nov 24, 2025"
  },
  {
   "key": "fee_for_the_part_that_differs_from_the_s_p_500_active_expense_ratio",
   "label": "Fee for the part that differs from the S&P 500, active expense ratio",
   "value": "0.82%",
   "source": "ETFIQ"
  },
  {
   "key": "closest_funds_by_holdings_overlap",
   "label": "Closest funds by holdings overlap",
   "value": "XAR 18%, TCAI 16%, SOXX 16%, SOXQ 15%, SMH 15%",
   "source": null
  }
 ],
 "periods": [
  {
   "window": "3 months",
   "Total return": "\u22129.3%",
   "S&P 500": "+3.3%",
   "Gap to S&P 500": "\u221212.6 pts",
   "Gap to Nasdaq-100": "\u22128.5 pts"
  },
  {
   "window": "6 months",
   "Total return": "+26.2%",
   "S&P 500": "+16.0%",
   "Gap to S&P 500": "+10.2 pts",
   "Gap to Nasdaq-100": "+5.5 pts"
  },
  {
   "window": "1 year",
   "Total return": "+34.7%",
   "S&P 500": "+17.5%",
   "Gap to S&P 500": "+17.2 pts",
   "Gap to Nasdaq-100": "+11.7 pts"
  },
  {
   "window": "Since launch",
   "Total return": "+51.6%",
   "S&P 500": "+73.2%",
   "Gap to S&P 500": "\u221221.6 pts",
   "Gap to Nasdaq-100": "\u221235.2 pts"
  }
 ],
 "questions": [
  {
   "q": "How much of NRSH is in S&P 500 companies?",
   "a": "By its holdings filed for Apr 30, 2026, 39% of NRSH by weight is stocks the S&P 500 already holds. Its active share against the index is 93%, so that share is the part doing something different."
  },
  {
   "q": "What does NRSH hold?",
   "a": "30 positions as filed for Apr 30, 2026, with the top ten at 40% of the fund. The largest are Sanmina Corp at 4.7%, Ciena Corp at 4.3%, Celestica Inc at 4.2%."
  },
  {
   "q": "Has NRSH beaten the S&P 500?",
   "a": "Over the year to Sep 11, 2026 NRSH returned +34.7% with distributions reinvested, against +17.5% for the S&P 500, so it finished ahead of the index by 17.2 points."
  },
  {
   "q": "What does NRSH cost?",
   "a": "The prospectus expense ratio is 0.76% a year. Because 93% of the fund differs from the S&P 500, the fee on that differing part works out at 0.82%."
  }
 ],
 "generated": "2026-09-13",
 "license": "Free to use with attribution. ETFIQ (etfiq.com)."
}