This is an actively managed ETF that selects companies expected to benefit from global policy changes. Rather than replicating a specific index, it builds its portfolio based on judgments drawn from policy research.

It suits investors who want exposure to global equity themes tied to government policy trends and who prefer the stock selection of active management.

It is an ETF managed by Strategas using an active (actively managed) approach.

The fund analyzes the fiscal, regulatory and industrial policy direction of governments around the world and actively adds global companies expected to benefit. Instead of replicating an index, it adjusts holdings and weightings based on policy research judgments, and reshapes the portfolio as policy cycles shift.

• Active stock selection based on policy research
• Portfolio management that adjusts flexibly without replicating a specific index

Assets under management (AUM) stand at $79.0M, and the total expense ratio is 0.65% per year.

Because of its active management, the management fee is somewhat higher than that of index-tracking funds, and the management team's judgment has a large effect on performance.

Return patterns vary with policy cycles and market conditions, and the fund can show relatively pronounced moves when policy themes are in the spotlight. Because it is actively managed, its results may diverge from a benchmark.

Inflows tend to appear when interest in policy themes rises, and because the fund sits in a relatively small-to-mid-sized category, its fund flows are quite volatile. Inflows and outflows may diverge depending on market conditions.

Its strength is active exposure to policy themes, while its weaknesses are the fee burden of active management and its reliance on the manager's judgment.

Products shown in the table such as FNDF and GSIE are passive, low-fee alternatives that diversify broadly across international stocks, while global infrastructure funds like IGF and global natural resources themes like GNR and GUNR are closely tied to policy and economic cycles. If you want broad global core exposure apart from policy themes, you can consider products like ACWI, and to diversify across non-US international stocks, low-fee alternatives like VXUS and VEA are also worth reviewing.

Here are the points to review before investing in SAGP. As an active policy-theme ETF, checking its management style, costs, fund size and currency exposure in advance helps you set realistic performance expectations.

Because of its active management, the management team's policy judgment determines performance, and the fund is exposed to divergence from a benchmark and to volatility from the ups and downs of policy themes. Its relatively small size is a point to watch in terms of liquidity.

It is a product that may be considered by investors who want active exposure to global policy themes. If broad, low-fee core exposure is the priority, passive alternatives such as ACWI and VXUS may be more suitable.