Investment objective & strategy
As of Sept. 15, 2025 · prospectusObjective. The investment objective of the Applied Finance Explorer Fund (the Explorer Fund) is long-term capital appreciation.
Strategy. The Explorer Fund invests primarily in the equity securities of small and middle capitalization companies, which the Fund defines as issuers with market capitalizations of less than $15 billion, measured at the time of purchase. The Explorer Fund invests primarily in the equity securities of small and middle capitalization companies, which the Fund defines as issuers with market capitalizations of less than $15 billion, measured at the time of purchase.
Top holdings
As of April 30, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| COMFORT SYSTEMS USA INC | — | $24.12M | 2.44% |
| STERLING INFRASTRUCTURE INC | — | $19.36M | 1.96% |
| PAR PACIFIC HOLDINGS INC | — | $12.97M | 1.31% |
| DANA INC | — | $12.41M | 1.25% |
| ADEIA INC | — | $12.14M | 1.23% |
| INTERNATIONAL SE | — | $11.78M | 1.19% |
| ENOVA INTL INC | — | $11.76M | 1.19% |
| ELEMENT SOLUTIONS INC | — | $11.73M | 1.19% |
| PERIMETER SOLUTIONS SA | — | $11.48M | 1.16% |
| UNITED THERAPEUTICS CORP DEL | — | $10.41M | 1.05% |
Portfolio moves
Jan 31, 2026 → Apr 30, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| Applied Finance IVS US SMID ETF · IVSS | 33% | 0.59% |
| Schwab Small-Cap Equity Fund · SWSCX | 23% | 1.09% |
| Sterling Capital Behavioral Small Cap Value Fund · SPSCX, SPSAX, SPSDX, STRBX | 22% | 0.78% |
Advisers
| Firm | Role |
|---|---|
| Applied Finance Advisors, LLC | Adviser |
Footnotes
- Expense ratio as of August 28, 2025, from the fund's prospectus.
- Net assets and holdings count as of April 30, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. Computed by compounding the twelve monthly total returns the fund reported in its SEC N-PORT filings for 2025 (the latest prospectus does not yet chart this year).
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