Strive U.S. Energy ETF retains its Morningstar Medalist Rating of Bronze. The portfolio maintains a cost advantage over competitors, priced within the cheapest fee quintile among peers.  

 The strategy's investment process inspires confidence and earns an Above Average Process Pillar rating. Independent of the rating, analysis of the strategy's portfolio shows it has maintained a significant underweight position in liquidity exposure and volatility exposure compared with category peers. Low liquidity risk exposure is attributed to stocks with a low trading volume, limiting managers' flexibility. And low volatility exposure is rooted in stocks that have a lower standard deviation of returns. The team managing this passive strategy earns a Below Average People Pillar rating. The strategy's parent organization is industry standard, albeit with some strong attributes like overall reasonable fees and continuity among portfolio managers. This earns the firm an Average Parent Pillar rating.

Analyst Rating

Exxon Mobil

Chevron

Valero Energy

EOG Resources

Marathon Petroleum

ConocoPhillips

Phillips 66

Hess

Occidental Petroleum

Diamondback Energy

Morningstar's evaluation of this security's process aims to determine the likelihood that it will outperform its Morningstar Category benchmark on a risk-adjusted basis over the long term. Strive U.S. Energy ETF earns an Above Average Process Pillar rating. The most important driver of the rating is that this fund tracks an index. Historical data, like Morningstar's Active/Passive Barometer, finds that passively managed funds have generally outperformed their active counterparts, especially over longer time horizons. The firm's five-year retention rate of 100% also buttresses the process. Lastly, the process is limited by the experience of the management team, which averages one year at this fund.

The investment strategy as stated in the fund's prospectus is:  The investment seeks to track the total return performance, before fees and expenses, of the Bloomberg US Energy Select Index.  The fund seeks to track the investment results of the Bloomberg US Energy Select Index, and which measures the performance of U.S. oil and gas producers. The index is designed by Bloomberg Index Services Limited and consists of U.S. equity securities. It is non-diversified. 

 The portfolio is overweight in energy by 7.3 percentage points in terms of assets compared with the category average, and its consumer defensive allocation is similar to the category. The sectors with low exposure compared to category peers are industrials and utilities; however, the allocations are similar to the category. The strategy owns 63 securities and is quite concentrated. More concretely, 65.7% of the portfolio's assets are housed within the top 10 holdings, as opposed to the category’s 51.2% average. And in closing, in terms of portfolio turnover, looking at year-over-year movements, 6% of the fund's holdings have turned over, whether through increasing, decreasing, or changing a position.

Above Average

Process

Strive Asset Management’s team receives a Below Average People Pillar rating. The team is bolstered by the firm's five-year retention rate of 100%. However, the rating is weakened by the experience of the management team, which averages one year at this fund. The number of months that the management team has been running this vehicle together also holds the rating back. Since this is a newly incepted product, more time is needed to monitor the team's capability at executing the strategy.

Below Average

People

Even though Strive Asset Management only has a one-year track record, it has shown to be an industry-standard steward, warranting an Average Parent Pillar rating. Strive Asset Management currently runs 12 vehicles, with a total of $1.36 billion under management and a bench of six portfolio managers.   

 The firm’s economical fees on open-end and exchange-traded funds truly evince a firmwide commitment to minimizing costs and maximizing investors’ returns. The average net expense ratio of the firm’s funds falls within the lowest quintile of firms.  

 To retain an Average rating, Strive Asset Management needs to maintain a consistent track record of positive investor experience.

Average

Parent

Strive US Energy ETF

DRLL tracks a market cap-weighted index of US-listed stocks from the broad energy sector. The fund aims to influence companies to prioritize returns through shareholder engagement and proxy voting, without regard to ESG agendas.

DRLL tracks a market cap-weighted index of US-listed stocks in the energy sector. The fund aims to influence companies to prioritize returns through shareholder engagement and proxy voting, without regard to ESG agendas.

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Designed to provide broad exposure to the Energy - Broad segment of the equity market, the Strive U.S. Energy ETF (DRLL) is a passively managed exchange traded fund launched on 08/09/2022.

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HAVERTOWN, Pa. , March 26, 2024 /PRNewswire/ -- (ETF Architect) - Effective on or about Thursday, April 11, 2024, the Strive U.S. Energy ETF (the "Fund") will undergo a change to its benchmark.

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HAVERTOWN, Pa. , Jan. 9, 2023 /PRNewswire/ -- (ETF Architect) -- EA Series Trust announces that the following funds will move their primary listings to the New York Stock Exchange: Strive U.S. Energy ETF (NYSE Arca: DRLL), Strive 500 ETF (NYSE Arca: STRV), Strive U.S. Semiconductor ETF (NYSE Arca: SHOC), Strive Emerging Markets Ex-China ETF (NYSE Arca: STXE), Strive FAANG 2.0 ETF (NYSE Arca: FTWO), Strive 1000 Dividend Growth ETF (Nasdaq: STXD), Strive 1000 Growth ETF (Nasdaq: STXG) Strive 1000 Value ETF (Nasdaq: STXV) and Strive Small-Cap ETF (Nasdaq: STXK), collectively, the "Funds".

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Strive US Energy ETF is an energy index ETF with a focus on corporate governance practices. DRLL doesn't own enough of its holdings to have a meaningful impact in proxy votes and shareholder meetings. The ETF's expense ratio is higher than competitors, and there is no reason to believe it will be lower in the future.

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