Panoramic Mutual Funds

SYMMETRY PANORAMIC

International Country MomentumTM ETF

Fund Ticker

ICMO

Exchange

NASDAQ

CUSIP

87190B870

Inception Date

09/29/2026
 

Total Expense Ratio*

0.86%

*The total expense ratio as of most recent prospectus. Please see important disclosure below.

Highlights

Investment Objective

The Fund seeks long-term capital appreciation 

Investment Strategy

A dynamic, rules-based ETF that uses cross sectional momentum to seek long-term capital appreciation by investing in the international countries and regions of the MSCI ACWI ex-US universe that have the strongest relative performance.  Using a dual-signal model, the strategy evaluates trailing 6 and 12-month price momentum signals. The strategy holds 13-26 individual country ETFs as well as an allocation to International Developed, Emerging Markets, or the Total International Market.

Types of Investments

The Fund will invest in Underlying Funds and individual equity securities based on the a proprietary model that seeks to capture positive momentum in equity markets of countries outside the United States.

Relative performance may be based upon quantitative measures of price momentum or other types of momentum and will generally be measured over various time periods in the prior 12-month period. 

Investor Profile

Typical investors in this Fund are seeking long-term growth and are willing to accept potentially significant share price volatility. The Fund is designed to serve as a dynamic International complement within an investor’s allocation, providing exposure that adapts to changing country leadership.

Portfolio Managers

David E. Connelly, Jr.
CEO

Mr. Connelly is a founding partner of Symmetry Partners. Mr. Connelly focuses on portfolio management and the strategic growth of the firm. He co-founded Symmetry Partners in 1994 to serve pension funds, closely held businesses, not-for-profit organizations and high-net-worth investors. He has broadened the focus of the firm to include a full range of retirement plans and independent fee-based advisors.

John B. McDermott, Ph.D.
Chief Investment Strategist

Dr. McDermott began his affiliation with Symmetry in 2005. Dr. McDermott is a renowned scholar focused on the role of liquidity in financial markets. He has been published in numerous academic journals, including The Journal of Banking and Finance, The Journal of Financial Markets and The Journal of Futures Markets. Dr. McDermott received his undergraduate degree from the U.S. Coast Guard Academy, his MBA from Columbia University, and his Ph.D. from the University of Connecticut.

Expense Ratio Disclosure: The Fund’s management fee (0.55%) is a “unitary” fee designed to pay the Fund’s expense and to compensate Symmetry Partners, LLC, the Fund’s investment adviser (the “Advisor”), for the services the adviser provides to the Fund. Out of the unitary management fee, the Adviser will pay all of the Fund’s expenses, except for the following: advisory fees, interest, taxes, brokerage commissions and other expenses incurred in placing orders for the purchase and sale of securities and other investment instruments, AFFE, accrued deferred tax liability, non- routine expenses, distributions fees and expenses paid by the Fund under any distribution plan adopted pursuant to Rule 12b-1 under the Investment Company Act of 1940, as amended (the “1940 Act”), litigation expenses, and other non-routine or extraordinary expenses. Other Expenses (0.00%) are based on estimated amounts for the current fiscal year. AFFE are indirect fees (0.31%) and expenses that the Fund incurs from Investing in shares of other investment companies and are estimated for the current fiscal year. 

Principal Investment Risks: As with all exchange-traded funds, there is the risk that you could lose money through your investment in the Fund. A Fund share is not a bank deposit and it is not insured or guaranteed by the FDIC or any other government agency. Other principal risks include, but not limited to: Market Risk; ETF Risks; Equity Risk; Geographic Focus Risk; Foreign Investment Risk; Large-, Mid-, Small- Capitalization Companies Risk; Foreign Currency Risk; Index Tracking Error Risk; Depositary Receipts Risk; Asset Allocation Risk; operational Risk; Liquidity Risk; Valuation Risk; High Portfolio Turnover Risk. International and Emerging Markets Risk – International investing involves special risks such as currency fluctuation, lower liquidity, political and economic uncertainties, and differences in accounting standards. Risks of foreign investing are generally intensified for investments in emerging markets. Risks for emerging markets include risks relating to the relatively smaller size and lesser liquidity of these markets, high inflation rates and adverse political developments. Risks for investing in international equity include foreign currency risk, as well as, fluctuation due to economic or political actions of foreign governments and/or less regulated or liquid markets. Momentum Style Risk – Investing in or having exposure to securities with positive momentum entails investing in securities that have had above-average recent returns. These securities may be more volatile than a broad cross-section of securities. In addition, there may be periods when the momentum style is out of favor, and during which the investment performance of the Fund using a momentum strategy may suffer. Quantitative Investing Risk – The risk that the value of securities or other investments selected using quantitative analysis can perform differently from the market as a whole or from their expected performance. This may be as a result of the momentum metrics used in building the quantitative model, the accuracy of historical data supplied by third parties, and changing sources of market returns. Non-Diversified Risk– The Fund is non-diversified, which means that it may invest in the securities of relatively few issuers. As a result, the Fund may be more susceptible to a single adverse economic or political occurrence affecting one or more of these issuers and may experience increased volatility due to its investments in those securities. Investors should carefully assess the risks associated with an investment in the fund. Active Management Risk – The risk that investment strategies employed by the Adviser in selecting investments for the Fund may not result in an increase in the value of your investment or in overall performance equal to other similar investment vehicles having similar investment strategies or that imperfections, errors or limitations in the tools and data used by the Adviser may cause unintended results. The Adviser’s judgments about the attractiveness, value, or potential appreciation of the Fund’s investments may prove to be incorrect. If the investments selected and strategies employed by the Fund fail to produce the intended results, the Fund could underperform in comparison to other funds with similar objectives and investment strategies.

Symmetry Partners, LLC serves as an investment adviser to Symmetry Funds. The funds are distributed by SEI Investment Distribution Co. (SIDCO), which is not affiliated with Symmetry Partners, LLC, or Vident Asset Management.

Carefully consider the Fund’s investment objectives, risk factors, charges, and expenses before investing. This and additional information can be found in the Fund’s full or summary prospectus. Please read the prospectus carefully before investing.

There are risks involved in investing, including loss of principal. Asset allocation may not protect against market risk. Investment in the fund(s) is subject to the risks of the underlying funds.

Shares of ETFs are not individually redeemable directly with the ETF. Shares of ETFs are bought and sold at market price, which may be higher or lower than the net asset value (NAV).

MSCI ACWI ex USA NR USD: A broad global equity index representing large-and mid-cap companies across developed and emerging markets excluding the United States. The index reflects the net total return, assuming dividends are reinvested after applicable withholding taxes, and is denominated in U.S. dollars.

Average Market Cap: The Average Market Cap is calculated as the geometric mean of the market capitalization for all of the stocks within the fund. It’s calculated by multiplying the stock’s portfolio weight by the natural log of the market cap. The results for each stock are summed and divided by sum of the portfolio weights, and then the exponential of the resulting number is taken.

Cross-Sectional Momentum: A method that ranks a set of assets against one another by recent return strength.

Dual-Signal Model: ICMO evaluates both trailing 6 and 12-month price momentum, blending a faster and slower signal to gauge country and region strength.

30-Day Median Bid/Ask Spread: the median over the prior 30 calendar days of the difference between the national best bid and national best offer for Fund shares, expressed as a percentage of the midpoint of those quotations.

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