What this ETF is trying to do

The Keating Active ETF (KEAT) is an actively managed fund. This means the managers choose specific investments to hold in the portfolio. Based on its top holdings, the fund invests in a mix of assets, including a bond ETF (iShares 0-5 Year TIPS Bond ETF) and various companies in sectors like mining, energy, and telecommunications.

What the numbers show

As of October 9, 2026, the share price of KEAT was $32.77.

When looking at performance, it is important to distinguish between "price return" and "total return." Price return only tracks the change in the share price. Total return includes both the share-price change and the cash distributions paid to investors.

• Year-to-Date (YTD): The price return is approximately 7.55%, while the total return is approximately 9.81%.

• One-Year: The price return is approximately 12.06%, and the total return is approximately 15.34%.

For a simple example, if you had invested $10,000 exactly one year ago at the estimated price of $29.24, the price-only increase would have grown that investment to approximately $11,206.

Income and distribution explanation

KEAT pays out cash to its investors, usually on a quarterly basis. Over the last 12 months, it has made 4 payouts. The distribution yield is approximately 2.80%.

It is important for beginners to remember that a distribution yield is not the same as a total return. 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 because the fund pays out more than it earns. StockValueFinder uses an erosion-risk score to measure this.

KEAT has an erosion score of 100, and the label states "No price erosion detected." Additionally, the severe erosion-risk flag is false, meaning the fund's price trend did not trigger a warning.

Pros

• Positive Returns: Both the one-year and year-to-date price and total returns are positive.

• Low Erosion Risk: The fund has a "good" erosion severity rating.

• Diversified Top Holdings: The portfolio includes a variety of assets, such as the iShares 0-5 Year TIPS Bond ETF (28.14%), Agnico Eagle Mines Ltd (5.94%), and Barrick Mining Corp (5.65%).

Cons

• Limited History: There is no three-year or five-year return data supplied.

• Partial List: The holdings list is partial, meaning only the top assets are shown.

Beginner takeaway

KEAT is an active ETF that has seen both its share price and total return grow over the past year. It provides a modest distribution yield for income. While it currently shows no signs of NAV erosion, investors should always look at total return rather than just the distribution yield to see how a fund is actually performing.