ERShares NextGen Entrepreneurs ETF
ERSX
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- ERShares NextGen Entrepreneurs ETF (ERSX) is an actively managed exchange-traded fund that provides investors with exposure to global entrepreneurial companies domiciled or headquartered primarily outside the United States, focusing on small-cap firms demonstrating strong entrepreneurial characteristics through a proprietary machine learning model developed by its investment adviser. The fund invests in a diversified portfolio of international equities across sectors such as technology, financials, health care, and energy; notable holdings have included companies like Daqo New Energy Corp., JinkoSolar Holding Co., Futu Holdings Ltd., BeiGene Ltd., and SolarEdge Technologies, emphasizing innovative growth-oriented businesses with limited liquidity and higher volatility risks. Launched on December 28, 2018, under the EntrepreneurShares Series Trust and managed by Capital Impact Advisors, LLC (an affiliate of EntrepreneurShares LLC), ERSX operates with a net expense ratio of 0.75% and trades on Nasdaq, targeting long-term capital appreciation for retail and institutional investors seeking non-U.S. entrepreneurial opportunities. ERSX forms part of ERShares' broader suite of investment products, which applies a proprietary 15-Factor Entrepreneur Model—pioneered by founder Joel Shulman during his Harvard studies—to identify high-potential entrepreneurial stocks globally, standing above traditional factors like momentum, growth, or market cap. The fund's geographic scope spans ex-U.S. markets including Asia, Europe, and emerging regions, with a focus on small-cap blend equities benchmarked against indices like the FTSE Global ex US Small Cap Net Tax (US RIC). EntrepreneurShares LLC, headquartered in New York, NY (with prior Boston references), was established around 2010 and oversees related offerings such as the ERShares Entrepreneurs ETF (now rebranded as ERShares Private-Public Crossover ETF under ticker XOVR, launched/relaunched in 2024 with private equity exposure including SpaceX), alongside mutual funds like ENTIX, IMPAX, and IMPLX. In recent developments, ERSX transferred its listing from NYSE Arca to Nasdaq alongside ENTR (now XOVR) effective November 14, 2023, enhancing trading accessibility without requiring shareholder action. ERShares announced a strategic collaboration with Crypto.com and Signal Markets on December 15, 2025, to launch an advanced market intelligence platform integrating macroeconomic trends, asset pricing, and corporate performance, with ERShares handling research, podcast programming, and media distribution. These changes align with ERShares' expansion into innovative structures like the XOVR crossover ETF, which in December 2024 added SpaceX as its top private equity holding, capping AUM at $500 million to democratize access to pre-IPO growth while maintaining daily liquidity and NAV pricing.