What this ETF is trying to do

The PACIFIC NOS GLOBAL EM EQUITY ACTIVE ETF (GEME) is an actively managed fund. It invests in companies located in emerging markets around the world. Based on its top holdings, the fund has significant exposure to technology and banking companies in regions like Asia.

What the numbers show

As of October 5, 2026, the share price was $41.98.

When looking at performance, it is important to distinguish between price return and total return:

• Price Return: This measures only the change in the share price. The one-year price return was 28.69%, and the year-to-date (YTD) price return was 30.44%.

• Total Return: This reflects the overall return, including distributions. The one-year total return was 37.66%, and the YTD total return was 30.44%.

To put the price change in perspective, the estimated price from roughly one year ago was $32.62. If an investor had put $10,000 into the fund based on that estimated price, the value of those shares alone (not including distributions) would have grown to approximately $12,869 after one year.

Income and distribution explanation

This ETF pays out cash distributions to investors. The distribution yield is 5.37%. Over the last 12 months, there was one payout totaling $2.26 per share. The fund is described as having irregular or less frequent distributions.

It is important for beginners to remember that a high distribution yield alone can be misleading. While distributions provide cash income, they do not guarantee that the original investment (the principal) will stay the same or grow.

NAV erosion explanation

"NAV erosion" happens when the net asset value of a fund declines over time, often meaning the fund is losing its underlying value.

For this ETF, the erosion-risk score is 100, and the erosion severity is labeled as "good." The data indicates that no price erosion was detected, and the severe erosion-risk flag is false.

Top Holdings

The fund holds 48 different assets. Because the list is partial, these are the Top Holdings as of October 7, 2026:

• Taiwan Semiconductor Manufacturing Co Ltd: 11.88%

• Samsung Electronics Co Ltd Participating Preferred: 6.47%

• SK Square: 4.41%

• Alibaba Group Holding Ltd: 4.11%

• Contemporary Amperex Technology Co Ltd Class A: 3.74%

• ICICI Bank Ltd ADR: 3.48%

• SK Inc: 3.25%

• JD.com Inc ADR: 3.14%

• YPF SA ADR: 2.94%

• Kia Corp: 2.48%

Pros

• Strong one-year price and total returns.

• No detected NAV erosion.

• Provides a distribution yield for cash income.

Cons

• Distributions are irregular and less frequent.

• Invests in emerging markets, which can be different from domestic markets.

Beginner takeaway

GEME is an active fund focusing on emerging market stocks. It has shown strong growth in both share price and total return over the past year. While it offers a distribution yield, the payouts are not on a regular schedule.