As the United States celebrates its independence, the RiverNorth Patriot ETF (ticker symbol: FLDZ) stands out for its patriotic and charitable commitment. The fund focuses on medium- to large-sized companies that generate at least 90% of their revenues in the United States.
What makes the RiverNorth Patriot ETF particularly remarkable is its philanthropic objective. All management profits are donated to the Folds of Honor charity. The latter's mission is to award study grants to the families of military personnel and first responders who have fallen in the service of their country or become disabled.
The fund is made up of around 300 companies, including First Solar, Altria, Intuit, AT&T and Republic Services. When it was launched in 2022, FLDZ outperformed the S&P 500, however, the lack of major artificial intelligence technology companies in its portfolio has dampened its momentum over the past twelve months.
According to the Bloomberg Intelligence rating system, the fund receives a mixed assessment. This caution is justified by two factors: the fund's active management and its low trading volume.
Investors should take into account the fund's high management fees and recent underperformance before making an investment decision.
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