- Business
- Strive Mid-Cap ETF (STXM) is a passively managed exchange-traded fund that seeks to track the total return performance, before fees and expenses, of an index composed of U.S. mid-capitalization companies, specifically the middle 400 corporations by market capitalization within the Bloomberg US 1500 Index (also referred to as the Bloomberg US 400 Total Return Index). The ETF, with an expense ratio of 0.18%, provides investors exposure to a diversified portfolio of approximately 393 mid-cap holdings across various sectors, including top positions such as NRG Energy Inc., International Paper Co., EMCOR Group Inc., Tapestry Inc., and SoFi Technologies Inc.; it distributes net investment income quarterly as dividends and emphasizes corporate governance practices, including proxy voting and engagement with portfolio company management to promote operational excellence and shareholder value. Launched on April 11, 2024, and listed on the NYSE under ticker STXM with CUSIP 02072L250, the fund is a series of the EA Series Trust, primarily advised by Empowered Funds, LLC (dba EA Advisers) with sub-advisory services from Strive Asset Management, LLC.
Strive Asset Management, LLC, the sub-adviser focused on maximizing client value through fiduciary principles, co-founded in 2022 by Vivek Ramaswamy and Anson Frericks, operates from offices in Dallas, Texas, and Dublin, Ohio, while managing a family of ETFs including the Strive 500 ETF (STRV), Strive Small-Cap ETF (STXK), and others targeting U.S. equities, fixed income, international developed markets, and emerging markets ex-China.
In recent developments, Strive Asset Management's parent entity, Strive Enterprises, Inc., completed a transformative merger with Asset Entities Inc. (Nasdaq: ASST) on September 12, 2025, creating Strive, Inc., the first publicly traded asset management firm with a dedicated Bitcoin treasury strategy; the deal included approximately $750 million in equity financing (with potential for $1.5 billion total via warrants) to accelerate Bitcoin accumulation and enhance shareholder value. Additionally, in late 2025, Strive, Inc. announced an agreement to acquire Semler Scientific, Inc. in an all-stock transaction valued at $1.42 billion, aiming to leverage synergies in shareholder-focused strategies and expand operational capabilities. These moves reflect Strive's aggressive expansion into Bitcoin exposure and strategic acquisitions amid managing over $2 billion in ETF assets under its sub-advisory role.