FIRI
FIRE Funds™ Income Target ETF
Fund Summary
FIRI is an actively-managed fund designed to seek current income, with an aim to provide a 4% target annual income level. Tailored to align with the Financial Independence and Retire Early (FIRE) lifestyle, FIRI offers a potential income stream to support financial goals.
Delivered through the efficient ETF structure, FIRI aims to offer liquidity, transparency, and tax efficiency, providing a flexible option for those interested in income-focused investing while working toward long-term financial independence.
Fund Details
Fund Name: FIRE Funds™ Income Target ETF
| Fund Inception | 11/18/2024 |
|---|---|
| Primary Exchange | NYSE |
| Gross Expense Ratio | 0.89% |
| Net Expense Ratio** | 0.70% |
| CUSIP | 886364215 |
| 30 Day SEC Yield* As of 09/30/2025 | 15.63% |
*The 30-Day SEC Yield is calculated with a standardized formula mandated by the SEC. The formula is based on the maximum offering price per share and does not reflect waivers in effect.
**The Fund’s investment advisor has agreed to a 0.19% fee waiver effective through at least February 28, 2026.
Fund Data & Pricing
| Name | Value |
|---|---|
| Net Assets | $0.95m |
| NAV | $18.96 |
| Shares Outstanding | 50,000 |
| Premium/Discount Percentage | nan% |
| Closing Price | $nan |
| Median 30 Day Spread* | N/A |
| Name |
|---|
| 10/30/2025 |
*30-Day Median Spread is a calculation of Fund’s median bid-ask spread, expressed as a percentage rounded to the nearest hundredth, computed by: identifying the Fund’s national best bid and national best offer as of the end of each 10 second interval during each trading day of the last 30 calendar days; dividing the difference between each such bid and offer by the midpoint of the national best bid and national best offer; and identifying the median of those values.
Performance
Inception Date: 11/18/2024
| Name |
|---|
| 10/31/2025 |
| Fund Name | Ticker | 1MO | 3MO | 6 Month | YTD | 1YR | 3 Year | 5 Year | 10 Year | Since Inception (Cumulative) | Since Inception (Annualized) | Date |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| FIRE Funds Income Target ETF | FIRI MKT | 0.97 | 2.18 | 4.91 | 6.42 | - | - | - | - | 6.41 | - | 09/30/2025 |
| FIRE Funds Income Target ETF | FIRI NAV | 0.96 | 2.6 | 5.12 | 6.39 | - | - | - | - | 6.27 | - | 09/30/2025 |
| FIRE Funds Income Target ETF | Bloomberg U.S. Aggregate Bond Index (USD) | 1.09 | 2.03 | 3.26 | 6.13 | - | - | - | - | 5.90 | - | 09/30/2025 |
| Name |
|---|
| 9/30/2025 |
| Fund Name | Ticker | 1MO | 3MO | 6 Month | YTD | 1YR | 3 Year | 5 Year | 10 Year | Since Inception (Cumulative) | Since Inception (Annualized) | Date |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| FIRE Funds Income Target ETF | FIRI MKT | 0.97 | 2.18 | 4.91 | 6.42 | - | - | - | - | 6.41 | - | 09/30/2025 |
| FIRE Funds Income Target ETF | FIRI NAV | 0.96 | 2.6 | 5.12 | 6.39 | - | - | - | - | 6.27 | - | 09/30/2025 |
| FIRE Funds Income Target ETF | Bloomberg U.S. Aggregate Bond Index (USD) | 1.09 | 2.03 | 3.26 | 6.13 | - | - | - | - | 5.90 | - | 09/30/2025 |
The performance data quoted above represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted above.
Short term performance, in particular, is not a good indication of the fund’s future performance, and an investment should not be made based solely on historical returns. Returns beyond 1 year are annualized.
A fund’s NAV is the sum of all its assets less any liabilities, divided by the number of shares outstanding. The market price is the most recent price at which the fund was traded.
Fund Distribution Details
| EX Date | Record Date | Payable Date | Fund Total |
|---|---|---|---|
| 09/29/2025 | 09/29/2025 | 09/30/2025 | 0.19 |
| 07/30/2025 | 07/30/2025 | 07/31/2025 | 0.16 |
| 06/27/2025 | 06/27/2025 | 06/30/2025 | 0.22 |
| 05/29/2025 | 05/29/2025 | 05/30/2025 | 0.21 |
| 04/29/2025 | 04/29/2025 | 04/30/2025 | 0.28 |
| 03/28/2025 | 03/28/2025 | 03/31/2025 | 0.19 |
| 02/27/2025 | 02/27/2025 | 02/28/2025 | 0.20 |
| 01/30/2025 | 01/30/2025 | 01/31/2025 | 0.15 |
| 12/30/2024 | 12/30/2024 | 12/31/2024 | 0.48 |
| 08/28/2025 | 08/28/2025 | 08/29/2025 | 0.19 |
Top 10 Holdings
| Name |
|---|
| 10/30/2025 |
| Date | Account | StockTicker | CUSIP | Name | Shares | Price | Market Value | Weightings | NetAssets | SharesOutstanding | CreationUnits |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 10/28/2025 | FIRI | FGXXX | 31846V336 | First American Government Obligations Fund 12/01/2031 | 947,773 | 100.00 | 947,773.28 | 99.98 | 947,990 | 50,000 | 10 |
| 10/28/2025 | FIRI | Cash&Other | Cash&Other | Cash & Other | 318 | 1.00 | 317.68 | 0.03 | 947,990 | 50,000 | 10 |
Holdings are subject to change and risk.
