EntrepreneurShares Series Trust ERShares Private-Public Crossover ETF

XOVR

時価総額 $14.5億

ETFs are increasingly breaking down the wall between public and private markets. Asset managers are finding ways to “ETF-ize” private equity and pre-IPO holdings — giving retail investors liquid, fractional access to growth opportunities historically restricted to institutional and accredited buyers.

The first private-public crossover ETF and the first ETF to invest in private companies returned 5.64% from the June 12 IPO through September 4 Past performance does not guarantee future results. Performance shown reflects cumulative return from June 12, 2026 through September 4, 2026.

ERShares Private-Public Crossover ETF (XOVR) offers unique, but limited, private company exposure alongside a concentrated public growth portfolio. XOVR's private allocation, exemplified by the SpaceX investment, can add alpha, but remains a small portion (≈15%) of total assets. Recent performance trails SPY and QQQ; the fund's high fee (0.75%) demands both strong public stock selection and repeatable private-market alpha.

Advisors did not slow down on exchange-traded funds in the second quarter. They added more of them, and pointed the money somewhere new, according to AdvizorPro's Q2 2026 RIA ETF Trends report.

In this episode, Mike Larson sits down with Eva Ados, COO and chief investment strategist at ERShares, and Mark Mahaney, director of internet research at Evercore ISI.

Investors chasing pre-IPO SpaceX exposure through an ETF wrapper usually narrow the field to two names: ERShares Private-Public Crossover ETF (NASDAQ:XOVR) and the ARK Innovation ETF (NYSEARCA:ARKK).

XOVR, the first ETF** to provide access to private equity exposure through a private-public crossover structure, adds Kalshi through its proprietary VC Lens after SpaceX exposure helped drive Q2 performance Key Highlights XOVR invested $30 million in Kalshi*, making it one of the Fund's largest private-company investments and adding exposure to a leading company in regulated prediction markets. XOVR, relaunched in August 2024, was the first ETF to provide access to private equity exposure through a private-public crossover structure, combining select private-company exposure with publicly traded innovation leaders using its proprietary ER30TR Index, all inside a single Nasdaq-listed ETF.

XOVR returned 27.45%* in Q2 2026 and 5.30%* in June; SpaceX contributed approximately $84 million in unrealized appreciation and about 75% of XOVR's June return, while the Fund reported approximately $387 million in SpaceX exposure and turned away an estimated $1 billion of potential inflows just prior to the SpaceX IPO in an effort to reduce dilution risk for existing shareholders. Key Highlights XOVR held approximately $387 million of SpaceX exposure at quarter end, representing approximately 18% of the Fund's approximately $2.2 billion in assets under management.

The sponsor of the ERShares Private-Public Crossover ETF (NASDAQ:XOVR) on Monday outlined how the fund navigated the highly hyped IPO of Space Exploration Technologies Corp (NASDAQ:SPCX), or SpaceX, positioning the event as a case study for its private-public crossover investing strategy.

XOVR's SpaceX exposure reflected more than $183 million of unrealized appreciation from March 30 through June 15, 2026. Over the same period, XOVR appreciated approximately 30.71%.