{
 "ticker": "VPX",
 "name": "Variant Perception Cycle Aware US Equity ETF",
 "issuer": "Variant Perception",
 "desk": "core",
 "url": "https://etfiq.com/funds/vpx",
 "html": "https://etfiq.com/funds/vpx",
 "markdown": "https://etfiq.com/funds/vpx.md",
 "as_of": "2026-10-20",
 "verdict": "VPX returned +25.6% since it first traded on Mar 12, 2026.",
 "lead": "VPX returned +25.6% from Mar 12, 2026 to Oct 20, 2026, charges 0.75% a year and holds $43m in net assets on May 29, 2026.",
 "category": {
  "id": "stocks",
  "name": "Stocks",
  "label": "Stock ETFs",
  "url": "https://etfiq.com/stocks/",
  "group": {
   "id": "us-stocks",
   "name": "U.S. stocks"
  },
  "segment": {
   "id": "us-large-blend",
   "name": "U.S. large-cap blend",
   "url": "https://etfiq.com/stocks/us-large-blend/"
  },
  "status": "classified",
  "as_of": "2026-10-21",
  "method": "https://etfiq.com/methodology/categories"
 },
 "key_facts": [
  {
   "key": "total_return_since_launch",
   "label": "Total return, since launch, Mar 12, 2026",
   "value": "+25.6%",
   "source": "computed by ETFIQ from Tiingo daily prices",
   "as_of": "2026-10-20",
   "sentence": "VPX, total return, since launch, Mar 12, 2026: +25.6%, as of Oct 20, 2026.",
   "cite": {
    "value": "+25.6%",
    "as_of": "2026-10-20",
    "source": "computed by ETFIQ from Tiingo daily prices",
    "url": "https://etfiq.com/funds/vpx#fact-total-return-since-launch",
    "text": "VPX, total return, since launch, Mar 12, 2026: +25.6%, as of Oct 20, 2026."
   }
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "0.75%",
   "source": "497 XBRL, Jan 28, 2026",
   "as_of": "2026-01-28",
   "sentence": "VPX, expense ratio: 0.75%, as of Jan 28, 2026.",
   "cite": {
    "value": "0.75%",
    "as_of": "2026-01-28",
    "source": "497 XBRL, Jan 28, 2026",
    "url": "https://etfiq.com/funds/vpx#fact-expense-ratio",
    "text": "VPX, expense ratio: 0.75%, as of Jan 28, 2026."
   }
  },
  {
   "key": "holdings",
   "label": "Holdings",
   "value": "90",
   "source": "its SEC filing (Form N-PORT)",
   "as_of": "2026-05-29",
   "sentence": "VPX, holdings: 90, as of May 29, 2026.",
   "cite": {
    "value": "90",
    "as_of": "2026-05-29",
    "source": "its SEC filing (Form N-PORT)",
    "url": "https://etfiq.com/funds/vpx#fact-holdings",
    "text": "VPX, holdings: 90, as of May 29, 2026."
   }
  },
  {
   "key": "below_its_high",
   "label": "Below its high",
   "value": "\u22123.5%",
   "source": "ETFIQ",
   "as_of": "2026-10-20",
   "sentence": "VPX, below its high: \u22123.5%, as of Oct 20, 2026.",
   "cite": {
    "value": "\u22123.5%",
    "as_of": "2026-10-20",
    "source": "ETFIQ",
    "url": "https://etfiq.com/funds/vpx#fact-below-its-high",
    "text": "VPX, below its high: \u22123.5%, as of Oct 20, 2026."
   }
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$43m",
   "source": "SEC filing, whole fund, as filed for May 29, 2026",
   "as_of": "2026-05-29",
   "sentence": "VPX, net assets: $43m (SEC filing, whole fund, as filed for May 29, 2026).",
   "cite": {
    "value": "$43m",
    "as_of": "2026-05-29",
    "source": "SEC filing, whole fund, as filed for May 29, 2026",
    "url": "https://etfiq.com/funds/vpx#fact-net-assets",
    "text": "VPX, net assets: $43m (SEC filing, whole fund, as filed for May 29, 2026)."
   }
  },
  {
   "key": "benchmark",
   "label": "Benchmark",
   "value": "Its own holdings, as of May 29, 2026; its prospectus names no index it tracks",
   "source": "ETFIQ, from its filings",
   "as_of": "2026-10-20",
   "sentence": "VPX, benchmark: Its own holdings, as of May 29, 2026; its prospectus names no index it tracks (ETFIQ, from its filings).",
   "cite": {
    "value": "Its own holdings, as of May 29, 2026; its prospectus names no index it tracks",
    "as_of": "2026-10-20",
    "source": "ETFIQ, from its filings",
    "url": "https://etfiq.com/funds/vpx#fact-benchmark",
    "text": "VPX, benchmark: Its own holdings, as of May 29, 2026; its prospectus names no index it tracks (ETFIQ, from its filings)."
   }
  }
 ],
 "fields": [
  {
   "key": "fund_type",
   "label": "Fund type",
   "value": "Equity fund",
   "source": null
  },
  {
   "key": "category",
   "label": "Category",
   "value": "Stocks \u00b7 U.S. large-cap blend",
   "source": "ETFIQ"
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "0.75%",
   "source": "497 XBRL, Jan 28, 2026"
  },
  {
   "key": "price",
   "label": "Price",
   "value": "$30.84",
   "source": null
  },
  {
   "key": "first_traded",
   "label": "First traded",
   "value": "Mar 12, 2026",
   "source": null
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$43m",
   "source": "SEC filing, whole fund, as filed for May 29, 2026"
  },
  {
   "key": "benchmark",
   "label": "Benchmark",
   "value": "Its own holdings, as of May 29, 2026; its prospectus names no index it tracks",
   "source": "ETFIQ, from its filings"
  },
  {
   "key": "vpx_may_29_2026_to_oct_16_2026",
   "label": "VPX, May 29, 2026 to Oct 16, 2026",
   "value": "+6.50%",
   "source": null
  },
  {
   "key": "its_book_of_may_29_2026_the_same_days",
   "label": "Its book of May 29, 2026, the same days",
   "value": "+2.79%",
   "source": "ETFIQ, measured on 94% of the book by weight"
  },
  {
   "key": "against_its_own_holdings",
   "label": "Against its own holdings",
   "value": "+3.71 pts",
   "source": "ETFIQ"
  },
  {
   "key": "below_its_high",
   "label": "Below its high",
   "value": "\u22123.5%",
   "source": "ETFIQ"
  },
  {
   "key": "holdings",
   "label": "Holdings",
   "value": "90",
   "source": null
  },
  {
   "key": "top_ten_weight",
   "label": "Top ten weight",
   "value": "48.3%",
   "source": null
  },
  {
   "key": "holdings_as_of",
   "label": "Holdings as of",
   "value": "May 29, 2026",
   "source": "SEC N-PORT"
  },
  {
   "key": "already_in_the_s_p_500_by_weight",
   "label": "Already in the S&P 500, by weight",
   "value": "77.3%",
   "source": "ETFIQ"
  },
  {
   "key": "active_share_vs_the_s_p_500",
   "label": "Active share vs the S&P 500",
   "value": "60.4%",
   "source": "ETFIQ"
  },
  {
   "key": "already_in_the_nasdaq_100_by_weight",
   "label": "Already in the Nasdaq-100, by weight",
   "value": "27.1%",
   "source": "ETFIQ"
  }
 ],
 "periods": [
  {
   "window": "1 month",
   "Total return": "\u22120.9%",
   "S&P 500 (SPY)": "+1.0%"
  },
  {
   "window": "3 months",
   "Total return": "+3.0%",
   "S&P 500 (SPY)": "+3.0%"
  },
  {
   "window": "6 months",
   "Total return": "+17.8%",
   "S&P 500 (SPY)": "+9.8%"
  },
  {
   "window": "Since launch",
   "Total return": "+25.6%",
   "S&P 500 (SPY)": "+16.4%"
  }
 ],
 "questions": [
  {
   "q": "What does VPX cost?",
   "a": "The prospectus expense ratio is 0.75% a year."
  },
  {
   "q": "What does VPX hold?",
   "a": "90 positions as filed for May 29, 2026, with the top ten at 48.3% of the fund. 77% of its weight is in stocks the S&P 500 also holds."
  },
  {
   "q": "How far is VPX below its high?",
   "a": "3.5% below its high of Oct 6, 2026, measured on the reinvested series to Oct 20, 2026."
  }
 ],
 "key_stats": [
  {
   "key": "high52",
   "label": "High since Mar 12, 2026, daily closes to Oct 20, 2026",
   "value": "$31.97 on Oct 6, 2026",
   "as_of": "2026-10-06",
   "source": "computed by ETFIQ from Tiingo daily prices",
   "number": 31.97,
   "window": {
    "from": "2026-03-12",
    "to": "2026-10-20"
   }
  },
  {
   "key": "low52",
   "label": "Low since Mar 12, 2026, daily closes to Oct 20, 2026",
   "value": "$23.40 on Mar 30, 2026",
   "as_of": "2026-03-30",
   "source": "computed by ETFIQ from Tiingo daily prices",
   "number": 23.402,
   "window": {
    "from": "2026-03-12",
    "to": "2026-10-20"
   }
  },
  {
   "key": "inrange",
   "label": "Close on Oct 20, 2026, within that range",
   "value": "$30.84, 87% of the way from the low to the high",
   "as_of": "2026-10-20",
   "source": "computed by ETFIQ from Tiingo daily prices",
   "number": 30.8387
  },
  {
   "key": "holdings",
   "label": "Holdings",
   "value": "90",
   "as_of": "2026-10-20",
   "source": null
  },
  {
   "key": "top10",
   "label": "Top ten weight",
   "value": "48.3%",
   "as_of": "2026-10-20",
   "source": null
  }
 ],
 "flows": {
  "as_of": "2026-05-31",
  "coverage": "monthly",
  "computed_by": "ETFIQ, from the change in shares outstanding times the previous day\u2019s NAV",
  "method": "https://etfiq.com/methodology/flows",
  "data": "https://etfiq.com/data/flows/funds/vpx.json",
  "windows": [],
  "latest_month": {
   "month": "2026-05",
   "net_flow_usd": 980838,
   "net_flow": "+$981k",
   "source": "SEC Form N-PORT"
  }
 },
 "generated": "2026-10-21",
 "license": "https://etfiq.com/license/",
 "license_text": "Figures ETFIQ computes are free to use with attribution: ETFIQ (etfiq.com). Issuer data stays under its owner's terms.",
 "citation": "ETFIQ, VPX, stock fund, data as of Oct 20, 2026. https://etfiq.com/funds/vpx"
}