DIVZ
Polen Dividend Income ETF
Elevation Series Trust
ETF
Expense ratio1
0.65%
Net assets2
$231.77M
Holdings2
29
Category
US Equity
2024 return3
18.39%

Investment objective & strategy

As of June 10, 2025 · prospectus

Objective. The Opal Dividend Income ETF (the Fund) seeks to provide capital appreciation with lower volatility and a higher dividend yield compared to the S&P 500 Index.

Strategy. The Fund is an actively-managed exchange-traded fund (ETF) that seeks to achieve its investment objective by purchasing 25-35 stocks of companies that pay dividends and expect to grow the dividends over time and are trading at attractive valuations at the time of the investment. The Funds investment adviser, TrueMark Investments, LLC (the Adviser), and sub-adviser, Opal Capital LLC (the Sub-Adviser), will seek to invest in such companies that are established businesses with high cash flow, stable revenue streams, and more disciplined capital reinvestment programs which may, in turn, experience lower volatility relative to the overall equity market. The Adviser and Sub-Adviser will focus on companies whose stock is listed on a U.S. exchange with market capitalizations greater than $8 billion, … The Fund is an actively-managed exchange-traded fund (ETF) that seeks to achieve its investment objective by purchasing 25-35 stocks of companies that pay dividends and expect to grow the dividends over time and are trading at attractive valuations at the time of the investment. The Funds investment adviser, TrueMark Investments, LLC (the Adviser), and sub-adviser, Opal Capital LLC (the Sub-Adviser), will seek to invest in such companies that are established businesses with high cash flow, stable revenue streams, and more disciplined capital reinvestment programs which may, in turn, experience lower volatility relative to the overall equity market. The Adviser and Sub-Adviser will focus on companies whose stock is listed on a U.S. exchange with market capitalizations greater than $8 billion, but may include companies with market capitalizations of less than $8 billion if their dividend yields are above the market average. The Adviser and Sub-Adviser will select companies for the Fund that, in the Sub-Advisers determination, provide the best combination of dividend yield with potential for dividend growth and are currently under-valued in the market. Under normal circumstances, at least 80% of the Funds net assets, plus borrowings for investment purposes, will be invested in equity securities, including common stocks and American Depositary Receipts (ADRs). The Sub-Adviser makes its initial identification of potential portfolio securities based on its assessment of a companys ability and commitment to sustain and grow its dividends. The Sub-Adviser seeks to identify such companies by utilizing a combination of quantitative and qualitative indicators of the companys financial position, growth opportunities, historical payouts, and management commentary, as well as the competitive landscape. The Sub-Adviser will then review the current market valuation of these companies which the Sub-Adviser believes are under-valued. The Sub-Adviser first identifies high quality companies, which are generally defined as companies with a sustainable competitive advantage, offering stable and growing free cash flows, and quality management teams that have the capital discipline to distribute dividends to shareholders. The Sub-Adviser then selects companies whose stock is trading at a valuation that it believes offers an opportunity to generate above average returns over time. The Sub-Adviser utilizes a variety of metrics ( e.g., price compared to earnings ratio, market capitalization compared to book value, free cash flow yield, etc.) in the valuation process and seeks to identify companies that are attractively priced both in absolute terms and relative to their peers with a preference of companies with higher free cash flow.

Top holdings

As of March 31, 2026 · N-PORT
SecurityTickerValue% of fund
CHEVRON CORP $15.97M 6.89%
VERIZON COMMUNICATIONS INC $14.41M 6.22%
MPLX LP PARTNERSHIP SHARES MPLX US $13.21M 5.70%
PHILIP MORRIS INTL INC $12.32M 5.32%
NEXTERA ENERGY INC $11.62M 5.01%
JOHNSON&JOHNSON $10.80M 4.66%
UNITED PARCEL SERVICE INC CL B $9.83M 4.24%
CME GROUP INC CL A $9.78M 4.22%
VALERO ENERGY CORP $8.92M 3.85%
HERSHEY CO/THE $8.86M 3.82%
View all holdings →

Allocation by sector

As of March 31, 2026 · N-PORT
View portfolio breakdown →

Portfolio moves

Dec 31, 2025 → Mar 31, 2026
Opened
4
Exited
6
Increased
22
Decreased
3
Unchanged
0

How 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.

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Similar funds

Funds whose portfolios most overlap this one, by weight
FundOverlapNet exp.
NVIT GQG US Quality Equity Fund 40% 0.72%
GQG Partners US Quality Value Fund · GQHPX, GQHIX 40% 0.49%
Nationwide GQG US Quality Equity Fund · NWAYX, NWAUX, NWAVX, NWAWX 36% 0.49%
View all similar funds →

Advisers

As of December 31, 2025 · N-CEN
FirmRole
TrueMark Investments, LLC Adviser
Opal Capital LLC Sub-adviser

Footnotes

  1. Expense ratio as of June 10, 2025, from the fund's prospectus.
  2. Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.
  3. Total return for calendar year 2024, before tax and after fund expenses. As reported in the fund's prospectus performance bar chart.

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