The KNOW ETF is an active ETF that selects listed stocks and bonds through fundamental analysis rather than mechanically tracking a specific index. It reviews companies' financial condition, business environment, and market conditions together to choose long-term holdings, and it adjusts position weights when necessary.

It may suit investors who want to use stocks and bonds together while considering a long-term strategy built on individual company analysis.

This is an ETF with an active management approach, run by Mason Capital Partners.

This product holds stocks and bonds based on fundamental analysis, which involves reviewing companies' public disclosures and business environment. It favors long-term holding over short-term trading, but it may adjust position weights when the rationale for an investment weakens or no longer fits its objectives.

• A management structure that holds both stocks and bonds
• A long-term holding perspective based on fundamental analysis

Assets under management (AUM) stand at $8.6M, and the expense ratio is 1.09% per year.

Unlike index-tracking ETFs, its holdings and asset allocation can change depending on the manager's judgment. It is therefore advisable to check not only the trading environment and fee level but also the stock and bond mix, the distribution policy, and the consistency of the management philosophy.

Returns can fluctuate as they reflect earnings expectations for the stocks held, interest rate changes in the bond market, and overseas market trends all at once. Given the nature of active management with a long-term holding orientation, it is necessary to look at changes in the underlying assets and the manager's judgment together, rather than focusing on short-term market moves.

Fund flows can be affected by the relative appeal of stock and bond markets, the interest rate environment, and shifts in risk appetite. Because this product covers a broad range of asset classes, it is important to check changes in asset allocation, the sustainability of distributions, and trading conditions together, rather than the trend of a single sector.

Fundamental analysis and mixed-asset management are its strengths, but its results are shaped by both the manager's judgment and several market variables.

In the comparison table, the CGBL ETF has a lower fee burden and a larger asset base within the peer group, while the IALT ETF differs in its relatively higher fee level and its systematic alternative strategy. The ALLW ETF aims to manage for a variety of market environments, the CTA ETF uses a managed futures strategy, and the DRSK ETF emphasizes a risk management approach. These products differ from the KNOW ETF's fundamental-analysis-based mix of stocks and bonds in category and management style, so fee levels, size, sources of return, and volatility characteristics should be checked together. In the holdings information, the entries for HQY, ULS, SAIA, ENSG, and SN can also be reviewed.

Before investing, you should confirm that the product's active management principles fit your own asset allocation plan. It is necessary to review the structure of holding stocks and bonds together, the nature of the quarterly distributions, and the fees and trading conditions as a whole.

This product can be affected by stock market volatility, interest rate changes, and overseas markets and exchange rates. Active management can produce results that differ from index-tracking approaches, and holding bonds does not eliminate equity risk, so the underlying assets and the manager's judgment should be monitored continuously.

The Fundamentals First ETF is a product worth considering for those who want to evaluate company analysis and a combined stock and bond strategy together. However, rather than narrowing your investment decision to quarterly distributions alone, it is advisable to approach it after confirming that it fits your fee tolerance, risk tolerance, trading conditions, and long-term asset allocation plan.