The Gen Z ETF
ZGEN
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- The Generation Z ETF (ZGEN), a series of EA Series Trust, is an actively managed exchange-traded fund that seeks capital appreciation by investing primarily in U.S.-listed equity securities of companies deemed most relevant to Generation Z, the cohort born between 1997 and the early 2010s; the fund employs a proprietary quantitative and qualitative scoring methodology known as the Gen Z Score, evaluating companies across four key metrics—use and utility to Gen Z consumers, innovation through unique product development and research investment, disruption via exceptional growth and market share gains, and alignment with progressive Gen Z values such as environmental consciousness, diversity, social welfare, and human welfare promotion; eligible securities are drawn from U.S.-listed companies (including American Depositary Receipts of foreign issuers) that completed an initial public offering on or after January 1, 1997, and maintain an average daily trading volume of at least $5 million; the portfolio typically comprises 40 to 60 top-ranked holdings weighted by Gen Z Score strength, with no single position exceeding 5% at initial purchase or reallocation, and includes exposure to sectors like technology, consumer discretionary, communication services, and healthcare, with select investments in small- and mid-cap companies, recent IPOs, de-SPAC transactions (limited to 10% of assets), and up to 3% in underlying funds providing indirect cryptocurrency exposure; the fund operates with a net expense ratio of 0.63%, including a 0.60% management fee and acquired fund fees. ZGEN was launched on December 14, 2021, listed on NYSE Arca, and sponsored by Alpha Architect ETF Trust (subsequently renamed EA Series Trust), with sub-advisory services provided by Alkali Fintech LLC, a firm co-founded by Generation Z investors Julian Feder and Eitan Prins-Trachtenberg to target future-focused companies aligning with zoomer aspirations. The fund targets individual and institutional investors interested in thematic equity exposure to Gen Z-relevant themes, with assets under management recently at approximately $1.33 million and around 46 holdings including leading weights in Duolingo, NVIDIA, Enphase Energy, Amazon.com, Alphabet, Tesla, Coursera, Meta Platforms, and Netflix. In a significant operational change, the board of trustees approved the liquidation and dissolution of the fund on or about March 24, 2023, with trading halted prior to market open on March 20, 2023, and creation orders ceased after March 17, 2023; shareholders received a net asset value-based liquidating distribution, potentially triggering capital gains or losses, amid portfolio deviations to facilitate orderly wind-down and transaction costs borne by remaining holders. Earlier updates included a May 2022 trust name change from Alpha Architect ETF Trust to EA Series Trust, revised transaction fees ($300 standard plus up to 2% variable charge), addition of cryptocurrency exposure disclosures, and a new fund website at www.genz-etf.com, with no reported recent partnerships, funding rounds, acquisitions, or new product launches post-launch. The ETF focused on U.S. and global developed/emerging market issuers via U.S. listings, headquartered administratively through EA Series Trust sponsors in the United States.