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American Customer Satisfaction ETF

At the core of ACSI Funds investment thesis is the intuitive idea that companies whose customers are satisfied will outperform their peers over the long term. In an age of increasing sophistication and data availability, it is easy to become distracted from what matters most when evaluating stocks – that behind every stock is a tangible product or service.

Financial statements can provide detail into how the company has operated in the recent past. Stock performance can tell us about the past trading patterns and recent direction of the company stock. Analysts can use all publicly available information to formulate their opinions about the prospects of a company. But the customers themselves – those who spend their own money and are most familiar with the good and services they are receiving – provide direct insight into the value of those goods and services which are at the core of any stock.

The idea that customer satisfaction is a driver of stock prices is substantiated through decades of academic studies and economic research.

The American Customer Satisfaction Index (ACSI) was established in 1994 by researchers at University of Michigan’s Ross School of Business as a national indicator of the quality of economic output, as measured by US household consumption experience. Today, the ACSI tracks trends in customer satisfaction and provides benchmarking insights for companies, industry trade associations and government agencies. ACSI’s data utilizes the groundbreaking proprietary econometric models developed by Dr. Claes Fornell, the world’s leading authority on customer satisfaction, its measurement and analysis.The American Customer Satisfaction ETF (Ticker: ACSI) provides large cap US equity exposure to investors with individual companies weighted within each sector by their ACSI customer satisfaction scores. By tracking the American Customer Satisfaction Investable Index, the ETF can provide ACSI Funds thesis as a core holding for US stock market investors, and it can do so in a transparent and systematic process. Utilizing ACSI’s customer satisfaction data, the American Customer Satisfaction ETF delivers a fund that sheds light on customer satisfaction as an optimizing portfolio factor, and provides overweight exposure to the most loved products and services that are at the root of the US stock market.

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Investment Objective

American Customer Satisfaction ETF (the “Fund”) seeks to track the performance, before fees and expenses, of the American Customer Satisfaction Investable Index (the “Index”).

Investment Index

The American Customer Satisfaction Investable Index utilizes proprietary customer satisfaction scores to weight stocks within each sector by their relative customer satisfaction scores. The index utilizes customer satisfaction metrics for over 350 brands, representing over 150 large capitalization securities for inclusion in the index. Sector constraints are applied at the time of index rebalance with the intention of providing a diversified portfolio across all US sectors. All securities within the index are listed on a major US stock exchange and measured by the American Customer Satisfaction Index.


Please click here for changes related to the July index rebalance.

as of 07/15/2024

as of 06/30/2024




The performance data quoted above represents past performance. Past performance is not a guarantee of future results. Investment return and value of the ETF shares will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than performance data quoted. To obtain performance, current to the most recent month-end, call 734-882-2401. Shares are bought and sold at market price (not NAV) and are not individually redeemed from the ETF. Total Returns are calculated using the daily 4:00pm net asset value (NAV). Market returns are based on the composite closing price and do not represent the returns you would receive if you traded the shares at other times. The first trading date is typically several days after the fund inception date. Therefore, NAV is used to calculate market returns prior to the first trade date. S&P 500 Index performance does not represent American Customer Satisfaction ETF performance. It is not possible to invest directly in an index. 

as of 07/15/2024

Daily Holdings

Fund holdings and sector allocations are subject to change and are not recommendations to buy or sell any security.

+1 (248) 568-1524




Price to book – Companies use price-to-book ratio to compare a firm’s market to book value by dividing the price per share by book value per share.

Price to earnings – The price-to-earnings ratio is the ratio for valuing a company that measures its current share price relative to its per-share earnings.

Price to sales – The price-to-sales ratio is a valuation ratio that compares a company’s stock price to its revenues.

Active share – Active Share is a measure of the percentage of stock holdings in a manager’s portfolio that differs from the benchmark index.

Beta -A beta coefficient is a measure of the volatility, or systematic risk, of an individual stock in comparison to the unsystematic risk of the entire market.

R Squared – R-squared is a statistical measure that represents the proportion of the variance for a dependent variable that’s explained by an independent variable or variables in a regression model.

Capture ratio – The capture ratio is used to evaluate how well an investment manager performed relative to an index during periods when that index has dropped or risen.


An investor should consider the Fund’s investment objectives, risks, charges and expenses carefully before investing. The Prospectus or summary prospectus contain this and other important information about the Fund and are available at or by calling (800) 617-0004. Please read the prospectus or summary prospectus carefully before Investing.

Investments involve risk. Principal loss is possible. The securities of large-capitalization companies may be relatively mature compared to smaller companies and therefore subject to slower growth during times of economic expansion. The ACSI Index relies heavily on proprietary quantitative models as well as information and data supplied by third parties (Models and Data). Because the ACSI Index is composed based on such Models and Data, when such Models and Data prove to be incorrect or incomplete, the Index and Fund may not perform as expected. As with all index funds, the performance of the Fund and its Index may differ from each other for a variety of reasons. For example, the Fund incur operating expenses and portfolio transaction costs not incurred by the Indexes. In addition, the Fund may not be fully invested in the securities of the Indexes at all times or may hold securities not included in the Indexes. The Fund has the same risks as the underlying securities traded on the exchange through the day. Redemptions are limited and often commissions are charged on each trade, and ETFs may trade at a premium or discount to their net asset value. To the extent the Fund invests more heavily in particular sectors of the economy, the Funds’ performance may be more sensitive to developments that significantly affect those sectors.

ACSI is distributed by Foreside Fund Services, LLC