Savana US Small Caps Active ETF (ASX:SVNP) has released its monthly performance update for October 2026, disclosing trailing returns, portfolio statistics, sector allocations, and fund metrics as at 31 October 2026, with the fund recording a since-inception annualised return of 8.88% against a benchmark return of 4.45% over the same period.

Key Points

  • SVNP recorded a one-month return of -2.51% versus the S&P Small Cap 600 Total Return (AUD) Index return of 2.03% for October 2026
  • Since inception (6 November 2024), the fund has delivered an annualised return of 8.88% compared with 4.45% for the benchmark
  • Fund size (NAV) stood at A$6.4621 million, with NAV per unit of A$1.6521 as at the report date
  • Top holding was Teladoc Health, Inc. at 5.13%, followed by DXC Technology Company at 4.86% and Kohl's Corporation at 4.73%
  • Financials represented the largest sector allocation at 42% of the portfolio

Trailing and Calendar Year Return Data

According to the filing, SVNP posted trailing returns of -2.51% over one month, -10.17% over three months, -2.87% over six months, and 8.97% over one year as at 31 October 2026. The corresponding benchmark figures were 2.03%, -3.32%, 5.25%, and 12.38% respectively. For calendar year returns, SVNP recorded 1.30% from 6 November 2024 to end of 2024, 12.91% for the full year 2025, and 3.49% year-to-date in 2026, compared with benchmark returns of -0.74%, -1.57%, and 11.58% over the same periods.

Risk-Return Metrics and Portfolio Fundamentals

The filing disclosed that since inception SVNP recorded annualised volatility of 25.98% compared with 20.69% for the S&P Small Cap 600 Index, with a Sharpe ratio of 0.30 versus 0.12 for the benchmark, and a Sortino ratio of 0.68 versus 0.46. The information ratio was reported at 0.41. Portfolio fundamentals showed a trailing price-to-earnings ratio of 4.63x against the benchmark's 28.04x, a price-to-book of 0.59x versus 2.02x, and a dividend yield of 3.33% compared with 1.58% for the index. Average market capitalisation for the fund's holdings was US$2,288 million.

Fund Structure and Key Information

The filing states that SVNP is issued by K2 Asset Management Ltd and managed by Savana Asset Management Pty Ltd. The fund's exchange code is SVNP, domiciled in Australia with Australian Dollar as base currency and no currency hedging applied. The management fee is 1% per annum inclusive of GST and RITC, and the performance fee is 15% inclusive of GST and RITC, subject to a high watermark. The fund inception date was 21 January 2022, while the current strategy inception date was 6 November 2024. The ISIN is AU60ETL81113.