CoreValues America First Technology ETF (USMD) is an actively managed exchange-traded fund that seeks long-term capital appreciation by investing primarily in U.S. exchange-listed equity securities, including American Depositary Receipts (ADRs) of non-U.S. companies, identified as benefiting from advancements in strategic and emerging "America First Technologies" critical to U.S. national innovation, security, and industrial leadership. The fund, sub-advised by MSA Power Funds LLC, allocates at least 80% of its net assets to such America First Technologies companies across eight key categories, including semiconductors, cybersecurity, artificial intelligence, quantum computing, biotechnology, advanced manufacturing, space technologies, and energy technologies; it aims to track returns similar to the Solactive America First Technology Index before fees and expenses. Sponsored by Tidal Investments LLC (as Tidal Trust II), with U.S. Bank N.A. as custodian and Cohen & Company as auditor, the distributing ETF trades on the NYSE Arca exchange under the ticker USMD (ISIN: US88636W6277).
Launched in early 2026 following a regulatory filing in late 2025, the ETF represents a major strategic initiative by CoreValues to capitalize on U.S.-centric technological innovation and national security priorities amid shifting global investment trends. This recent product launch, highlighted in industry recaps and media as a "doubling down" on America First tech trades, marks the fund's entry into the actively managed technology ETF segment without reported acquisitions, partnerships, funding rounds, or operational reorganizations in its initial months. The ETF targets institutional and retail investors focused on U.S. industrial leadership themes, with operations centered in the United States.