MSTQLHA Market State Tactical Q ETF

Get income Take a bet4y track recordRanked #797 of 949 in this goal

Seeks long-term out-performance relative to the large-capitalization U.S. growth equity market.

By Little Harbor Advisors · Launched 2022

Annual Cost

1.55%

#5,763 of 5,854 · expensive

Fund Size

$39M

#3,890 of 5,854 · mid-size

Dividend YieldGoal

0.66%

Track Record

4 years

#2,575 of 5,854 · seasoned

Performance

Total-return NAV · USD

Growth of $10,000

$11,669+16.7%

Total-return NAV, USD. Net of fund fees, before tax.

What's inside

How Beacon categorizes this fund

Asset class

Equity

Region

North america

Strategy

Option income

What it actually holds

By weight

Concentration

Top 9 holdings = 99.4% of fundconcentrated

Invesco QQQ Trust Series 1

61.3%

TREASURY BILL

15.2%

TREASURY BILL

9.2%

TREASURY BILL

5.8%

First American Treasury Obliga

4.6%

First American Government Obli

4.6%

N/AUXJ6

-0.1%

N/AUXK6

-0.1%

N/ANQM6

-1.2%

Asset allocation

Stocks

96.5%

Bonds

12.3%

Other

0.1%

By sector

Technology

60.9%

Communication

13.1%

Consumer Cyclical

10.7%

Consumer Defensive

6.2%

Healthcare

3.6%

Industrials

2.8%

Utilities

1.1%

Basic Materials

1.0%

Other

0.6%

Risk profile

Last 12 months · Sharpe & Sortino need 3+ years

Volatility (1Y)

17.6%Moderate

Year-on-year price swings

Max drawdown

-31.2%Severe

Worst peak-to-trough loss

Sharpe (3Y)

0.84Decent risk-adjusted returns

Sortino (3Y)

1.21Good downside protection

Listing

Exchange: Cboe BZX

Full fund details

Objective: Seeks long-term out-performance relative to the large-capitalization U.S. growth equity market.
Strategy: Actively manages a portfolio of equity instruments linked to U.S.-listed large-capitalization growth-oriented companies. The Fund uses statistical analyses to adjust exposure to growth equities, typically maintaining around 100% exposure, while employing options and futures for hedging and additional returns.
Inception date: March 14, 2022
Fund family: Little Harbor Advisors

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Our take

Structural notes on how this fund behaves. Read our guide on the 6 warning signs.

Covered call

Warning

The big yield isn't extra money

The headline distribution comes from selling call options, which caps the fund's upside. Across a full market cycle that trade costs more than it brings in — often 1 to 3 percentage points a year against just holding the index. Monthly payouts make the gap easy to miss on a return summary.

Sources: Israelov & Ndong, 'A Devil's Bargain: When Generating Income Undermines Investment Returns' (NDVR, 2023)

Educational analysis of structural product characteristics. Not investment advice. Always read the fund prospectus and consult a qualified advisor before investing. More

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Data updated on 2026-08-03