Academy Asset Managements’ VETZ ETF Surpasses $100 Million in Assets Under Management, Advancing Investment Opportunities Supporting Veterans

Key Terms

assets under management financial

Assets under management (AUM) is the total value of all the investments that a financial company or fund is responsible for overseeing on behalf of its clients. It’s like a big bucket that shows how much money the firm is managing for people or organizations. A higher AUM often indicates a larger, more trusted company, and it can influence how much money they earn and the services they can offer.

mortgage-backed securities (MBS) financial

A mortgage-backed security (MBS) is an investment made up of many home loans bundled together so investors receive a share of the borrowers’ monthly payments, similar to owning a slice of a large loan repayment stream. It matters to investors because it can provide steady income and different yields than stocks or bonds, but carries risks tied to mortgage defaults, changing interest rates and borrowers paying off loans early — all of which affect returns.

investment grade financial

A credit rating label assigned to bonds or borrowers that signals relatively low risk of default; think of it as a strong health check for a company's or government's ability to repay debt. It matters to investors because investment-grade status typically means lower interest costs for the borrower, greater eligibility for conservative funds and pension portfolios, and generally more stable returns compared with higher-risk, non-investment-grade debt.

View in glossary

prepayment risk financial

Prepayment risk is the chance that borrowers will pay off loans or mortgage-backed securities earlier than expected, cutting short the stream of interest payments investors had been counting on. Like a steady paycheck that stops because someone paid you back early, this forces investors to reinvest the returned principal—often at lower interest rates—and can reduce income, alter cash flow timing, and change the market value of fixed-income holdings.

extension risk financial

Extension risk is the chance that a debt instrument or loan will be paid back more slowly than investors expected, pushing cash repayments farther into the future. That matters because delayed return of principal reduces near-term income, makes the holding more sensitive to interest-rate changes, and can lower overall returns — like expecting monthly rent but suddenly getting fewer payments, which complicates planning and reinvestment.

repurchase agreement financial

A repurchase agreement is a short-term loan in which one party sells a financial security (often government bonds) to another with a promise to buy it back at a slightly higher price on a set future date. Think of it like a pawn-shop loan using safe securities as collateral; it matters to investors because these agreements are a core way banks and funds get quick cash, influence short-term interest rates, and create exposure to counterparty and liquidity risk.

tba transactions financial

TBA transactions are standardized forward trades, mostly used in the mortgage-backed securities market, where the buyer and seller agree on quantity, price and settlement date but not the specific pools until just before delivery. For investors this matters because TBAs make it easy to buy or hedge large amounts of mortgage exposure quickly—like buying a generic voucher for a product—while leaving some delivery and composition risk that can affect returns.

bloomberg us aggregate bond index financial

A broad yardstick that tracks the performance of U.S. investment-grade bonds, including government, corporate, and mortgage-related debt. Think of it as a large basket representing the overall U.S. bond market; investors and fund managers use it to judge whether a bond investment is doing better or worse than the market as a whole. Its movements matter because they influence interest-rate expectations, portfolio risk, and the returns of many bond funds and pension investments.

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NEW YORK--(BUSINESS WIRE)-- Academy Asset Management, a veteran-owned institutional asset manager, is pleased to celebrate surpassing $100 Million in AUM for the Academy Veteran Bond ETF (NYSE Arca: VETZ).

Academy Asset Management: (From L to R: Phil McConkey, Anthony Graham, Randy Lauer, Seth Rosenthal, Spencer Wilcox, Chance Mims)

The AUM milestone comes at a critical time, as housing affordability has remained one of the most pressing financial challenges facing U.S. veterans. Rising home prices, elevated mortgage rates, and frequent relocations create structural barriers to long-term wealth building for service members and their families. Academy Asset Management launched the Academy Veteran Bond ETF in 2023 as the first publicly traded ETF to primarily invest in loans to U.S. service members, military veterans, their survivors, and veteran-owned businesses. Investing in these loans helps facilitate the flow of capital to veterans, resulting in lower borrowing costs for them and their families. By providing a dedicated investor base for these securities, VETZ supports continued liquidity in markets that finance veteran homeownership and small business activity, while seeking to deliver current income to investors. It expands access to homeownership and business opportunities for those who served, while strengthening the reach of federal programs during a time of limited resources.

Leading with performance, VETZ continues to beat the mortgage index and products with similar investment objectives in the mortgage space, while also delivering tangible, reportable, and observable impact to the active duty servicemember and veteran community.

The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted. Performance current to the most recent month-end can be obtained by calling (866) 631-0504.

View standardized performance at www.academyetfs.com.

“Reaching $100 million in AUM is an important validation of VETZ’s strategy and purpose,” stated Academy’s Chairman and CEO Chance Mims. “Investors are increasingly seeking opportunities that not only deliver returns but also create measurable social impact. VETZ provides a vehicle to do both.”

“Crossing this key threshold reflects the consistency of the strategy and investor confidence in our approach. We’re grateful to our investors for the opportunity to deliver competitive performance while supporting the veteran community in a measurable way,” stated Academy Asset Management’s CIO Seth Rosenthal.

“This milestone reinforces that investors are looking beyond traditional benchmarks. They want exposure to strategies that are grounded in real economic needs, like housing, while also supporting communities such as veterans who have served our country,” stated Phil McConkey, Vice Chairman of Academy Securities.

VETZ $100 Million Milestone Video

About Academy Asset Management (AAM):

Academy Asset Management is the nation’s first post-9/11 veteran-owned and operated institutional asset manager, specializing in fixed-income funds and separately managed accounts. Our leadership and team members bring rigorous military training combined with deep expertise in global capital markets. Mission-driven and guided by a strong ethical foundation, we operate with a high degree of accountability and a relentless focus on our clients’ success. Academy Asset Management is an SEC registered investment adviser, certified Disabled Veteran Business Enterprise (DVBE), and Service-Disabled Veteran Owned Business (SDVOB) and has offices in New York, Chicago, and San Diego. To learn more, visit www.academyassetmanagement.com.

Investors should consider the investment objectives, risks, charges and expenses carefully before investing. For a prospectus or summary prospectus with this and other information about the Fund, please call (866) 631-0504 or visit our website at www.academyassetmanagement.com. Read the prospectus or summary prospectus carefully before investing.

Investing involves risk. Principal loss is possible.

Agency Small Business Loan & MBS Risk. There is uncertainty as to the current status of many obligations of Fannie Mae or Freddie Mac and other agencies that are placed under conservatorship of the U.S. Government.

Fixed income Securities Risk. Typically, the value of fixed income securities changes inversely with prevailing interest rates.

Non-Agency MBS Risk. Non-agency MBS are subject to heightened risks as compared to agency MBS, including that non-agency MBS are not subject to the same underwriting requirements for the underlying mortgages that are applicable to those MBS that have a government or government-sponsored entity guarantee.

Non-Agency MBS Risk. Non-agency MBS are subject to heightened risks as compared to agency MBS, including that non-agency MBS are not subject to the same underwriting requirements for the underlying mortgages that are applicable to those MBS that have a government or government-sponsored entity guarantee.

Prepayment Risk and Extension Risk. Many issuers have a right to prepay their fixed income securities.

Repurchase Agreement Risk. Repurchase agreements may be viewed as loans made by the Fund that are collateralized by the securities subject to repurchase.

TBA Transactions Risk. The Fund may enter into TBA transactions for MBS.

New Fund Risk. As a new fund, there can be no assurance that the Fund will grow or maintain an economically viable size.

Investment grade is a rating of fixed-income bonds, bills, and notes by credit rating agencies like Standard and Poor’s (S&P), Fitch, and Moody’s, which signifies a low risk of default. The rating determines the creditworthiness of companies based on their financial strengths and structure, past data, and growth potential. Companies with good levels of debt, debt repayment, good earning potential, and growth will have good credit ratings.

Mortgage-backed securities (MBS) are investment products similar to bonds. Each MBS consists of a bundle of home loans and other real estate debt bought from the banks that issued them. Investors in mortgage-backed securities receive periodic payments similar to bond coupon payments.

Bloomberg US Aggregate Bond Index This index (the “Agg”) represents securities that are SEC registered, taxable and U.S. dollar denominated. It covers the U.S. investment grade, fixed-rate bond market, with components for government and corporate securities, mortgage pass-through securities and asset-backed securities. These major sectors are subdivided into more specific indices that are calculated and reported on a regular basis.

Bloomberg US Mortgage-Backed Securities (MBS) Index: This index measures the performance of investment grade, fixed-rate, mortgage-backed, pass-through securities of the government-sponsored enterprises (GSEs): Federal Home Loan Mortgage Corp. (Freddie Mac), Federal National Mortgage Association (Fannie Mae) and Government National Mortgage Association (Ginnie Mae).

VETZ is distributed by Foreside Fund Services, LLC. Foreside is not related to Academy.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260421465919/en/

Academy Asset Management
Michael Boyd, 646-736-3995
Chief Compliance Officer
mboyd@academyalpha.com

Source: Academy Asset Management