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COOL

VegaShares AI Thermal, Cooling & Power Management ETF

VegaShares AI Thermal, Cooling & Power Management ETF seeks capital appreciation by investing in global companies that generate significant revenue from the cooling, power delivery, and thermal management systems required to operate high-density AI data centers.

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FUND INFORMATION

Inception Date 8/13/2026
Primary Exchange Nasdaq
Ticker COOL
CUSIP 88636N858
Total Expense Ratio 0.75%

FUND DATA & PRICING

As of 08/14/2026
Net Assets $509,285.78
NAV $20.37
Shares Outstanding 25,000
Premium/discount Percentage -0.03%
Closing Price $20.37
Median 30 Day Spread 0.30%

Keeping AI Powered and Cool

Every AI data center faces the same physical constraint: dense racks of chips draw enormous amounts of power and return it as heat. The electricity must reach the processors, and the heat must be carried away. The VegaShares AI Thermal, Cooling & Power Management ETF (COOL) invests in the companies that deliver electricity, regulate power, and remove heat.

In selecting investments, the adviser considers companies included in the BITA AI Thermal, Cooling & Power Management Global Index, along with other companies and investment exposures it believes are connected to AI power and thermal management. The Fund is not required to invest only in companies included in the index.

Where COOL ETF invests

The fund targets four parts of the AI rack's power and cooling stack:

  • Server Thermal & Liquid Cooling: thermal management that carries heat away from AI processors, from fans and heat pipes to cold plates and liquid cooling.
  • Server PSUs, Power Shelves & BBUs: the power supplies, power shelves, and battery backup units that convert incoming power into the voltages servers need.
  • Power Semiconductors: the power chips that regulate voltage and current efficiently.
  • UPS & Rack Power Distribution: the systems that condition, back up, and deliver electricity to AI racks.

Why COOL ETF?

  1. Own the hardware that powers and cools AI. Every AI rack needs electricity delivered to the chips and heat carried away.
  2. A global basket. COOL holds cooling equipment, power systems, and power-control chip makers across Asia, the U.S., and Europe.
  3. A pure power-and-cooling play. The fund focuses on the hardware that powers and cools AI racks, from power delivery and backup to power semiconductors and thermal systems.
  4. Built for where the rack is going. As AI racks increasingly move to denser power delivery and direct liquid cooling, COOL invests in the companies supplying both.

1 As of ***.

2 As of 08/14/2026 .

3 As of 08/14/2026.

Fund Documents

Fund Profile
Prospectus
Summary Prospectus
SAI

PERFORMANCE

Quarter end returns as of 06/30/2026
Cumulative Avg. Annualized
  Quarter Since Inception 1 Year 3 Year 5 Year Since Inception
Fund NAV - - - - - -
Market Price - - - - - -

Expense ratio: 0.75%

The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted. Performance current to the most recent month-end can be obtained by calling (888) 862-3299.

Short term performance, in particular, is not a good indication of the fund’s future performance, and an investment should not be made based solely on returns.

DISTRIBUTION INFORMATION

Distribution Rate
-
Distribution Amount / Share ($)
-
Distribution Amount / Share (%)
-
30 Day SEC Yield
0.00%
Download Premium Discount Information

Distribution Detail

Ex-Date Record Date Payable Date Amount ROC Form 19a-1
No upcoming distributions found

There is no guarantee that the fund will pay distributions in the future, if any, and that the current distribution may vary. Distributions may include income, capital gains, or return of capital and may change during the year. Details are provided in the fund’s 19a-1 Notice on our website. 

These distributions may exceed the fund’s income and gains for the fund’s taxable year. Distributions in excess of the fund’s current and accumulated earnings and profits will be treated as a return of capital. 

A final determination of the tax character of distributions paid by the fund will not be known until the completion of the funds’ fiscal year and there can be no assurance as to the portions of each fund’s distributions that will constitute return of capital and/or dividend income. The final determination of the tax character of distributions paid by the fund will be reported to shareholders on their Form 1099-DIV. Please consult your tax advisor for proper treatment on your tax return.

Top 10 Holdings

Data as of 08/17/2026
% Of Net Assets Name Ticker CUSIP Shares Held Market Value
10.10% Cash & Other Cash&Other Cash&Other 51,443 51,442.65
9.90% ASIA VITAL COMPONE TWD10-SWAP-MREX-L 6544892-TRS-08/13/33-L-MREX 6544892-TRS-08/13/33-L-MREX 499 50,427.66
9.40% Vertiv Holdings Co VRT 92537N108 163 47,895.92
9.14% JENTECH PRECI TWD10-SWAP-MREX-L B3FJBY3-TRS-08/13/33-L-MREX B3FJBY3-TRS-08/13/33-L-MREX 307 46,560.92
6.66% AURAS TECHNOLOGY TWD10-SWAP-MREX-L B015YP6-TRS-08/13/33-L-MREX B015YP6-TRS-08/13/33-L-MREX 1,075 33,917.50
5.76% SUNONWEALTH ELECTR TWD10-SWAP-MREX-L 6129039-TRS-08/13/33-L-MREX 6129039-TRS-08/13/33-L-MREX 6,429 29,321.77
4.61% Vicor Corp VICR 925815102 100 23,474.00
4.54% Navitas Semiconductor Corp NVTS 63942X106 1,600 23,120.00
4.47% NIDEC CHAUN-CHOUNG TWD10-SWAP-MREX-L 6578567-TRS-08/13/33-L-MREX 6578567-TRS-08/13/33-L-MREX 6,688 22,772.82
4.41% CHICONY POWER TECH TWD10-SWAP-MREX-L B97NLT0-TRS-08/13/33-L-MREX B97NLT0-TRS-08/13/33-L-MREX 9,094 22,471.16
Download Full Holdings
Holdings are subject to change. 
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Investing involves risk, including the loss of principal.

An investor should consider the investment objectives, risks, and charges and expenses of the fund carefully before investing. A prospectus [and a summary prospectus] which contains this and other information about the fund may be obtained by calling (888) 862-3299 or visiting VegaSharesETFs.com. The prospectus and the summary prospectus should be read carefully before investing.

An investment in the Fund is subject to investment risks; therefore, you may lose money by investing in the Fund. There can be no assurance that the Fund will be successful in meeting its investment objective. The Fund is not intended to be a complete investment program. Generally, the Fund will be subject to the following principal risks:

Datacenter Industry Risk. The datacenter industry faces numerous challenges that could significantly impact the financial performance of companies operating within this sector. As technological advancements accelerate and demand for data processing and storage grows, datacenter companies must continuously upgrade infrastructure and expand capacity, leading to high capital expenditures and increased operational costs. The highly competitive nature of the industry often results in aggressive pricing strategies that compress profit margins. Additionally, fluctuations in demand for data services, driven by economic conditions and shifts in technology trends, can lead to under-utilization of capacity, negatively affecting revenue streams and overall profitability. Furthermore, companies must navigate complex regulatory environments and manage significant energy consumption and environmental impact, adding to operational burdens and costs.

Technology Hardware, Storage & Peripherals Industry Risk. Technology hardware, storage and peripherals companies can be significantly affected by competitive pressures, aggressive pricing, technological developments, changing domestic demand, the ability to attract and retain skilled employees and availability and price of components. The market for products produced by these companies is characterized by rapidly changing technology, rapid product obsolescence, cyclical market patterns, evolving industry standards and frequent new product introductions. The success of technology hardware companies depends in substantial part on the timely and successful introduction of new products. An unexpected change in one or more of the technologies affecting an issuer’s products or in the market for products based on a particular technology could have a material adverse effect on a participant’s operating results.

Semiconductors & Semiconductor Equipment Industry Risk. Semiconductor companies may face intense competition, both domestically and internationally, and such competition may have an adverse effect on their profit margins. Semiconductor companies may have limited product lines, markets, financial resources or personnel. Semiconductor companies’ supply chain and operations are dependent on the availability of materials that meet exacting standards and the use of third parties to provide components and services. Semiconductor companies may rely on a limited number of suppliers, or upon suppliers in a single location, for certain materials, equipment or tools. Finding and qualifying alternate or additional suppliers can be a lengthy process that can cause production delays or impose unforeseen costs, and such alternatives may not be available at all. Production can be disrupted by the unavailability of resources, such as water, silicon, electricity, gases and other materials. Suppliers may also increase prices or encounter cybersecurity or other issues that can disrupt production or increase production costs.

Artificial Intelligence Risk. Issuers engaged in artificial intelligence typically have high research and capital expenditures and, as a result, their profitability can vary widely, if they are profitable at all. The space in which they are engaged is highly competitive and issuers’ products and services may become obsolete very quickly. These companies are heavily dependent on intellectual property rights and may be adversely affected by loss or impairment of those rights. The issuers are also subject to legal, regulatory and political changes that may have a large impact on their profitability. A failure in an issuer’s product or even questions about the safety of the product could be devastating to the issuer, especially if it is the marquee product of the issuer. It can be difficult to accurately capture what qualifies as an artificial intelligence company.

Information Technology Sector Risk. The information technology sector includes companies engaged in internet software and services, technology hardware and storage peripherals, electronic equipment instruments and components, and semiconductors and semiconductor equipment, among other things. Information technology companies face intense competition, both domestically and internationally, which may have an adverse effect on profit margins. Information technology companies may have limited product lines, markets, financial resources or personnel. The products of information technology companies may face rapid product obsolescence due to technological developments and frequent new product introduction, unpredictable changes in growth rates and competition for the services of qualified personnel. Failure to introduce new products, develop and maintain a loyal customer base, or achieve general market acceptance for their products could have a material adverse effect on a company’s business. Companies in the information technology sector are heavily dependent on intellectual property and the loss of patent, copyright and trademark protections may adversely affect the profitability of these companies.

Concentration Risk. The Fund’s investments will be concentrated in an industry or group of industries to the extent the Index is so concentrated. In such an event, the value of the Fund’s Shares may rise and fall more than the value of shares that are invested in securities or financial instruments of companies that encompass a broader range of industries.

Foreign Securities Risk. Investments in securities or other instruments of non-U.S. issuers involve certain risks not involved in domestic investments and may experience more rapid and extreme changes in value than investments in securities of U.S. companies. Financial markets in foreign countries often are not as developed, efficient, or liquid as financial markets in the United States, and therefore, the prices of non-U.S. securities and instruments can be more volatile. In addition, the Fund will be subject to risks associated with adverse political and economic developments in foreign countries, which may include the imposition of economic sanctions. Generally, there is less readily available and reliable information about non-U.S. issuers due to less rigorous disclosure or accounting standards and regulatory practices.

IPO Risks. The Fund may purchase securities of companies that are offered in an IPO. The risk exists that the market value of IPO shares will fluctuate considerably due to factors such as the absence of a prior public market, unseasoned trading, the small number of shares available for trading and limited information about the issuer. 

SPAC and De-SPAC Risks. The Fund may invest in securities of companies that have recently completed IPOs and may have become publicly traded through transactions involving SPACs or de-SPAC transactions. 

Limited History of Operations Risk. The Fund is a new ETF and has a limited history of operations for investors to evaluate.

Non-Diversification Risk. The Fund’s portfolio may focus on a limited number of investments and will be subject to the potential for greater volatility than a diversified fund.

VegaShares ETFs are distributed by Foreside Fund Services, LLC or Foreside Financial Services, LLC. Foreside is not affiliated with VegaShares ETFs.