BORN ETF — Fact Sheet Q4 2025 · American Leadership Capital
BORN
New American Leadership ETF  ·  NYSE Arca  ·  CUSIP: 62945D106
As of
December 31, 2025
NAV
$32.46
+$0.34 (+1.06%)
Net Assets
$1.24B
as of Dec 31, 2025
Expense Ratio
0.49%
Net & Gross
30-Day SEC Yield
0.62%
Subsidized
Fund Details
Fund InceptionNovember 14, 2024
Index InceptionJanuary 1, 2006
Index NameNew American Leadership Index
Bloomberg Ticker (Index)NALI Index
ExchangeNYSE Arca
CUSIP62945D106
ISINUS62945D1063
Avg. Daily Volume287,500 shares
Premium / Discount+0.02%
Number of Holdings~130
Median Bid/Ask Spread0.04%
Index RebalanceQuarterly (3rd Friday)
Distribution FrequencyAnnual
Performance (Annualized)
1Y3Y5Y10YInception
BORN (Index) +14.00% +23.81% +16.03% +17.44% +13.36%
S&P 500 (TR) +12.00% +21.41% +13.55% +13.04% +10.72%
Excess Return +2.00% +2.91% +2.74% +3.22% +2.64%

Inception date for index performance is Jan 1, 2006. All figures prior to Nov 14, 2024 reflect backtested index performance. Past performance is not indicative of future results.

Index Methodology
  • 1Universe: Current S&P 500 constituents
  • 2Screen: CEO born outside U.S. (confirmed via SEC filings and official company biographies)
  • 3Weight: Float-adjusted market capitalization (FFMC)
  • 4Caps: 22.5% single-name max; 45% aggregate for positions >4.5% (RIC-compliant)
  • 5Rebalance: Quarterly (third Friday of Mar, Jun, Sep, Dec). CEO eligibility reviewed monthly.
Growth of $1 · Index Backtest 2005–2025
$1 $2 $5 $10 $20 2005 2010 2015 2020 2025 $12.28 $7.67 BORN Index S&P 500 (TR)
Top 10 Holdings
TickerNameCEO CountryWt.
MSFTMicrosoft🇮🇳 India8.94%
GOOGLAlphabet🇮🇳 India7.95%
NVDANVIDIA🇹🇼 Taiwan7.71%
AVGOBroadcom🇲🇾 Malaysia6.52%
TSLATesla🇿🇦 South Africa6.24%
AMDAdv. Micro Devices🇹🇼 Taiwan5.51%
ADBEAdobe🇮🇳 India5.18%
IBMIBM🇮🇳 India5.00%
PEPPepsiCo🇪🇸 Spain4.85%
HONHoneywell🇮🇳 India4.67%
CEO Country of Birth
🇮🇳 India
40.0%
🇹🇼 Taiwan
18.5%
🇲🇾 Malaysia
8.4%
🇿🇦 South Africa
6.2%
🇪🇸 Spain
4.9%
Other (10)
22.0%
Supporting Research
Salimi & Danesh (2024)
"Foreign-born CEOs consistently outperformed domestic counterparts across ROA, gross margin, and net income growth 2018–2023."
Journal of Accounting and Finance, Vol. 24 No. 2
Spencer Stuart (2025)
"The share of foreign-born S&P 500 CEOs has more than doubled since 2000."
S&P 500 C-Suite Snapshot 2025
Investment Objective & Strategy

The New American Leadership ETF seeks to track the investment results of the New American Leadership Index, which measures the performance of equity securities issued by U.S. large-cap companies whose current Chief Executive Officer was born outside the United States. The Index uses float-adjusted market capitalization weighting, subject to a 22.5% single-constituent cap and a 45% aggregate cap on positions exceeding 4.5%, applied at each quarterly rebalance. The fund employs a passive, full-replication strategy.

CONCEPT DESIGN ONLY. NOT AN INVESTMENT OFFERING. This fact sheet is produced for illustrative and design demonstration purposes only. The New American Leadership ETF has not been registered with the Securities and Exchange Commission. All financial data including NAV, AUM, expense ratios, performance figures, and inception dates are hypothetical and fabricated for presentation purposes. Index performance prior to November 14, 2024 is backtested and does not represent actual trading results. The S&P 500 is an unmanaged index that cannot be invested in directly. Investing involves risk, including possible loss of principal. Past performance is not indicative of future results. All trademarks are property of their respective owners.
BORN New American Leadership ETF  ·  newamericanleadership.com  ·  1-800-555-BORN Q4 2025 Fact Sheet