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 06/30/2025 18.17%

*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 $1.43m
NAV $19.01
Shares Outstanding 75,000
Premium/discount Percentage 0.14%
Closing Price $19.04
Median 30 Day Spread* 0.73%
Name
07/14/2025

*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
6/30/2025
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 1.77 2.67 4.13 4.13 - - - - 4.13 - 06/30/2025
FIRE Funds Income Target ETF FIRI NAV 1.4 2.45 3.63 3.63 - - - - 3.53 - 06/30/2025
Name
6/30/2025
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 1.77 2.67 4.13 4.13 - - - - 4.13 - 06/30/2025
FIRE Funds Income Target ETF FIRI NAV 1.4 2.45 3.63 3.63 - - - - 3.53 - 06/30/2025

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

Top 10 Holdings

Name
07/15/2025
Date Account StockTicker CUSIP Name Shares Price Market Value Weightings NetAssets SharesOutstanding CreationUnits
07/15/2025 FIRI RISR 886364637 FolioBeyond Alternative Income and Interest Rate Hedge ETF 3,750 36.93 138,487.50 9.71 1,425,952 75,000 15
07/15/2025 FIRI VETZ 886364389 Academy Veteran Impact ETF 6,721 19.69 132,302.89 9.28 1,425,952 75,000 15
07/15/2025 FIRI TAIL 132061862 Cambria Tail Risk ETF 10,367 11.85 122,848.95 8.62 1,425,952 75,000 15
07/15/2025 FIRI FIAX 88634T535 Nicholas Fixed Income Alternative ETF 3,850 18.20 70,070.00 4.91 1,425,952 75,000 15
07/15/2025 FIRI QQQY 88636J154 Defiance Nasdaq 100 Enhanced Options & 0DTE Income ETF 2,349 25.93 60,909.57 4.27 1,425,952 75,000 15
07/15/2025 FIRI GDXY 88634T881 YieldMax Gold Miners Option Income Strategy ETF 3,975 15.04 59,784.00 4.19 1,425,952 75,000 15
07/15/2025 FIRI FGXXX 31846V336 First American Government Obligations Fund 12/01/2031 51,398 100.00 51,397.75 3.60 1,425,952 75,000 15
07/15/2025 FIRI ULTY 88636J527 YieldMax Ultra Option Income Strategy ETF 7,942 6.29 49,955.18 3.50 1,425,952 75,000 15
07/15/2025 FIRI THTA 886364280 SoFi Enhanced Yield ETF 3,165 14.91 47,188.88 3.31 1,425,952 75,000 15
07/15/2025 FIRI RNTY 88636R776 YieldMax Target 12 Real Estate Option Income ETF 881 51.76 45,602.50 3.20 1,425,952 75,000 15
07/15/2025 FIRI YBIT 88636J428 YieldMax Bitcoin Option Income Strategy ETF 4,020 10.92 43,898.40 3.08 1,425,952 75,000 15
07/15/2025 FIRI CCSB 88636J535 Carbon Collective Short Duration Green Bond ETF 14,780 20.43 301,955.40 21.18 1,425,952 75,000 15
07/15/2025 FIRI MSTI 557441201 Madison Short-Term Strategic Income ETF 14,640 20.56 300,998.40 21.11 1,425,952 75,000 15
07/15/2025 FIRI Cash&Other Cash&Other Cash & Other 560 1.00 559.94 0.04 1,425,952 75,000 15

Holdings are subject to change and risk.

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