ETF Opportunities Trust
07/07/2026 | Press release | Distributed by Public on 07/07/2026 10:00
Semi-Annual Report by Investment Company (Form N-CSRS)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
| Investment Company Act file number: | 811-23439 |
| Exact name of registrant as specified in charter: | ETF Opportunities Trust |
| Address of principal executive offices: |
8730 Stony Point Parkway, Suite 205 Richmond, VA 23235 |
| Name and address of agent for service |
The Corporation Trust Co., Corporation Trust Center, 1209 Orange St., Wilmington, DE 19801 With Copy to: Practus, LLP 11300 Tomahawk Creek Parkway, Suite 310 Leawood, KS 66211 |
| Registrant's telephone number, including area code: | (804) 267-7400 |
| Date of fiscal year end: | October 31 |
| Date of reporting period: | April 30, 2026 |
|
IDX Alternative FIAT ETF and IDX Dynamic Fixed Income ETF (the "IDX ETFs") |
ITEM 1.(a). Reports to Stockholders.
IDX Alternative FIAT ETF Tailored Shareholder Report
|
Semi-Annual Shareholder Report | April 30, 2026 IDX Alternative FIAT ETF ticker: GLDB (Principal U.S. Listing Exchange: NASDAQ Stock Market®) |
This semi-annual shareholder report contains important information about the IDX Alternative FIAT ETF for the period of November 1, 2025 to April 30, 2026. You can find additional information at https://idxshares.com/gldb/ or (844) 456-4545.
What were the Fund costs for the period?
(based on a hypothetical $10,000 investment)
|
Fund
|
Costs of a $10,000 investment
|
Costs paid as a percentage of a $10,000 investment*
|
|
IDX Alternative FIAT ETF
|
$46.77
|
0.95%
|
| * | Annualized |
Key Fund Statistics
(as of April 30, 2026)
|
Net Assets
|
$45,480,799
|
|
Number of Holdings
|
5
|
|
Total Advisory Fee
|
$143,606
|
|
Portfolio Turnover Rate
|
0.00%
|
What did the Fund invest in?
(% of Net Assets as of April 30, 2026)
|
Top Holdings
|
|
|
First American Government Obligations Fund, Class X
|
75.05%
|
|
SPDR Gold MiniShares Trust
|
0.48%
|
|
iShares Silver Trust
|
0.26%
|
|
iShares Bitcoin Trust ETF
|
0.19%
|
|
iShares Ethereum Trust ETF
|
0.11%
|
Sector Breakdown
For additional information about the Fund; including its prospectus, financial statements and other information, holdings and proxy information, visit https://idxshares.com/gldb/.
IDX Dynamic Fixed Income ETF Tailored Shareholder Report
|
Semi-Annual Shareholder Report | April 30, 2026 IDX Dynamic Fixed Income ETF ticker: DYFI (Principal U.S. Listing Exchange: NASDAQ Stock Market®) |
This semi-annual shareholder report contains important information about the IDX Dynamic Fixed Income ETF for the period of November 1, 2025 to April 30, 2026. You can find additional information at https://idxshares.com/dyfi/ or (844) 456-4545.
What were the Fund costs for the period?
(based on a hypothetical $10,000 investment)
|
Fund
|
Cost of a $10,000 investment
|
Costs paid as a percentage of a $10,000 investment*
|
|
IDX Dynamic Fixed Income ETF
|
$34.57
|
0.70%
|
| * | Annualized. |
Key Fund Statistics
(as of April 30, 2026)
|
Net Assets
|
$54,977,441
|
|
Number of Holdings
|
10
|
|
Total Advisory Fee
|
$199,781
|
|
Portfolio Turnover Rate
|
95.51%
|
What did the Fund invest in?
(% of Net Assets as of April 30, 2026)
|
Top Holdings
|
|
|
PIMCO Multisector Bond Active ETF
|
17.65%
|
|
State Street SPDR Bloomberg 1-3 Month T-Bill ETF
|
14.99%
|
|
VanEck Fallen Angel High Yield Bond ETF
|
12.74%
|
|
iShares 1-3 Year Treasury Bond ETF
|
10.00%
|
|
iShares 7-10 Year Treasury Bond ETF
|
9.99%
|
|
Simplify MBS ETF
|
9.95%
|
|
iShares 3-7 Year Treasury Bond ETF
|
8.00%
|
|
iShares 1-5 Year Investment Grade Corporate Bond ETF
|
6.01%
|
|
iShares iBoxx USD High Yield Corporate Bond ETF
|
5.06%
|
|
Janus Henderson AAA CLO ETF
|
4.98%
|
Sector Breakdown
For additional information about the Fund; including its prospectus, financial statements and other information, holdings and proxy information, visit https://idxshares.com/dyfi/.
ITEM 1.(b).
Not applicable.
| ITEM 2. | CODE OF ETHICS. |
Not applicable when filing a semi-annual report to shareholders.
| ITEM 3. | AUDIT COMMITTEE FINANCIAL EXPERT. |
Not applicable when filing a semi-annual report to shareholders.
| ITEM 4. | PRINCIPAL ACCOUNTANT FEES AND SERVICES. |
Not applicable when filing a semi-annual report to shareholders.
| ITEM 5. | AUDIT COMMITTEE OF LISTED REGISTRANTS. |
Not applicable when filing a semi-annual report to shareholders.
| ITEM 6. | INVESTMENTS. |
| (a) | The Registrant's Schedule of Investments is included as part of the Financial Statements and Financial Highlights filed under Item 7 of this Form. |
| (b) | Not applicable. |
ITEM 7. FINANCIAL STATEMENTS AND FINANCIAL HIGHLIGHTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.
IDX ETF FUNDS
IDX Alternative FIAT ETF
GLDB
For the Period Ended April 30, 2026 (Unaudited)
IDX Dynamic Fixed Income ETF
DYFI
For the Period Ended April 30, 2026 (Unaudited)
SEMI-ANNUAL FINANCIAL STATEMENTS
AND OTHER INFORMATION
Semi-Annual Financial Statements | April 30, 20261
IDX ETF FundsIDX Alternative FIAT ETF
Consolidated Schedule of Investments (Unaudited)April 30, 2026
The accompanying notes are an integral part of these financial statements.
|
|
|
Shares |
|
|
|
Fair Value |
|
Exchange Traded Funds - 1.04% |
|
|
|
|
|
|
|
Commodity - 1.04% |
|
|
|
|
|
|
|
iShares Bitcoin Trust ETF(a) |
2,000 |
|
|
|
$86,640 |
|
|
iShares Ethereum Trust ETF(a) |
|
2,800 |
|
|
|
47,824 |
|
iShares Silver Trust(a) |
|
1,800 |
|
|
|
119,988 |
|
SPDR Gold MiniShares Trust(a) |
|
2,400 |
|
|
|
219,288 |
|
|
|
|
|
|
473,740 |
|
|
|
|
|
|
|
||
|
Total Exchange Traded Funds - (Cost $483,720) |
|
|
|
|
|
473,740 |
|
|
|
|
|
|
|
|
|
Short-Term Investments - 75.05% |
|
|
|
|
|
|
|
|
|
Shares |
|
Coupon |
|
|
|
Money Market Funds - 75.05% |
|
|
|
|
|
|
|
First American Government Obligations Fund, |
|
34,133,992 |
|
3.96 |
|
34,133,992 |
|
|
|
|
|
|
||
|
Total Short-Term Investments - (Cost $34,133,992) |
|
|
|
|
|
34,133,992 |
|
|
|
|
|
|
|
|
|
Total Investments - 76.09% - (Cost $34,617,712) |
|
|
|
|
|
34,607,732 |
|
Other Assets In Excess Of Liabilities - 23.91% |
|
|
|
|
|
10,873,067 |
|
Net Assets - 100.00% |
|
|
|
|
|
$45,480,799 |
(a)All or a portion of this investment is a holding of IDX Alternative FIAT (Cayman) Portfolio S.P.
(b)Fair value of this security exceeds 25% of the Fund's total investments. Additional information for this security, including the financial statements, is available from the SEC's EDGAR database at www.sec.gov.
(c)Variable rate security; the rate shown represents the seven day effective yield at April 30, 2026.
2(216) 329-4271 | www.idx-funds.com
IDX ETF FundsIDX Alternative FIAT ETF
Consolidated Schedule of Open Future Contracts (Unaudited)April 30, 2026
The accompanying notes are an integral part of these financial statements.
|
|
|
Number of Contracts |
|
Expiration Date |
|
Notional Amount |
|
Unrealized Appreciation |
|
Unrealized (Depreciation) |
|
|
PURCHASE CONTRACTS |
|
|
|
|
|
|
|
|
|
|
|
|
CME Bitcoin Futures(a) |
|
29 |
|
5/29/2026 |
|
$11,127,300 |
|
$138,002 |
|
- |
|
|
CME Ether Futures(a) |
|
31 |
|
5/29/2026 |
|
3,519,275 |
|
- |
|
(67,859 |
) |
|
Gold Futures(a) |
|
46 |
|
6/26/2026 |
|
21,296,160 |
|
615,830 |
|
- |
|
|
Silver Futures(a) |
|
27 |
|
7/29/2026 |
|
9,993,780 |
|
- |
|
(372,609 |
) |
|
TOTAL PURCHASE CONTRACTS |
|
|
|
45,936,515 |
|
753,832 |
|
(440,468 |
) |
||
|
|
|
|
|
|
|
|
|
|
|
||
|
TOTAL FUTURES CONTRACTS |
|
|
|
|
|
753,832 |
|
(440,468 |
) |
||
|
|
|||||||||||
|
NET UNREALIZED APPRECIATION |
|
|
|
|
|
|
|
$313,364 |
|
||
(a)All or a portion of this investment is a holding of IDX Alternative FIAT (Cayman) Portfolio S.P.
Semi-Annual Financial Statements | April 30, 20263
IDX ETF FundsIDX Dynamic Innovation ETF
Schedule of Investments (Unaudited) April 30, 2026
The accompanying notes are an integral part of these financial statements.
|
|
|
Shares |
|
Fair Value |
|
Exchange Traded Funds - 99.38% |
|
|
|
|
|
Corporate - 6.01% |
|
|
|
|
|
iShares 1-5 Year Investment Grade Corporate Bond ETF |
|
62,822 |
|
$3,303,809 |
|
|
|
|
|
|
|
Government - 42.98% |
|
|
|
|
|
iShares 1-3 Year Treasury Bond ETF |
|
66,658 |
|
5,497,952 |
|
iShares 3-7 Year Treasury Bond ETF |
|
37,186 |
|
4,396,501 |
|
iShares 7-10 Year Treasury Bond ETF |
|
57,835 |
|
5,493,168 |
|
State Street SPDR Bloomberg 1-3 Month T-Bill ETF |
|
89,912 |
|
8,239,536 |
|
|
|
|
23,627,157 |
|
|
|
|
|
|
|
|
High Yield - 35.45% |
|
|
|
|
|
iShares iBoxx USD High Yield Corporate Bond ETF |
|
34,599 |
|
2,781,066 |
|
PIMCO Multisector Bond Active ETF |
|
366,936 |
|
9,705,457 |
|
VanEck Fallen Angel High Yield Bond ETF |
|
239,377 |
|
7,004,171 |
|
|
|
|
19,490,694 |
|
|
|
|
|
|
|
|
Other Fixed Income - 14.94% |
|
|
|
|
|
Janus Henderson AAA CLO ETF |
|
54,238 |
|
2,740,105 |
|
Simplify MBS ETF |
|
110,908 |
|
5,472,201 |
|
|
|
|
8,212,306 |
|
|
|
|
|
||
|
Total Exchange Traded Funds - (Cost $54,893,726) |
|
|
|
54,633,966 |
|
|
|
|
|
|
|
Total Investments - 99.38% - (Cost $54,893,726) |
|
|
|
54,633,966 |
|
Other Assets In Excess Of Liabilities - 0.62% |
|
|
|
343,475 |
|
Net Assets - 100.00% |
|
|
|
$54,977,441 |
4(216) 329-4271 | www.idx-funds.com
IDX ETF Funds
Statements of Assets and Liabilities (Unaudited) April 30, 2026
|
|
|
IDX Alternative FIAT ETF (Consolidated) |
|
IDX Dynamic Fixed Income ETF |
|
|
Assets |
|
|
|
|
|
|
Investments in Securities, at Value* |
|
$34,607,732 |
|
$54,633,966 |
|
|
Cash |
|
- |
|
364,662 |
|
|
Deposit with brokers for futures contracts |
|
10,508,081 |
|
- |
|
|
Unrealized appreciation of open future contracts |
|
753,832 |
|
- |
|
|
Dividends receivable |
|
82,236 |
|
10,893 |
|
|
Total Assets |
|
45,951,881 |
|
55,009,521 |
|
|
|
|
|
|
|
|
|
Liabilities |
|
|
|
|
|
|
Unrealized depreciation of open future contracts |
|
440,468 |
|
- |
|
|
Payables and Accrued Liabilities: |
|
|
|
|
|
|
Accrued Advisory Fees |
|
30,614 |
|
32,080 |
|
|
Total Liabilities |
|
471,082 |
|
32,080 |
|
|
Net Assets |
|
$45,480,799 |
|
$54,977,441 |
|
|
|
|
|
|
|
|
|
Net Assets Consist of: |
|
|
|
|
|
|
Paid-In Capital |
|
$46,082,162 |
|
$58,172,718 |
|
|
Distributable Earnings/(Accumulated Deficit) |
|
(601,363 |
) |
(3,195,277 |
) |
|
Net Assets |
|
$45,480,799 |
|
$54,977,441 |
|
|
|
|
|
|
|
|
|
Net Asset Value Per Share: |
|
|
|
|
|
|
Net Assets |
|
$45,480,799 |
|
$54,977,441 |
|
|
Shares Outstanding (Unlimited Number of Shares of Beneficial Interest Authorized with No Par Value) |
|
1,890,000 |
|
2,410,000 |
|
|
Net Asset Value, and Offering Price Per Share |
|
$24.06 |
|
$22.81 |
|
|
|
|
|
|
|
|
|
*Identified Cost: |
|
|
|
|
|
|
Investments In Securities |
|
$34,617,712 |
|
$54,893,726 |
|
The accompanying notes are an integral part of these financial statements.
Semi-Annual Financial Statements | April 30, 20265
IDX ETF Funds
Statements of Operations (Unaudited)Six Months Ended April 30, 2026
|
|
|
IDX Alternative FIAT ETF (Consolidated) |
|
IDX Dynamic Fixed Income ETF |
|
|
Investment Income |
|
|
|
|
|
|
Dividends |
|
$432,059 |
|
$1,446,563 |
|
|
Total Investment Income |
|
432,059 |
|
1,446,563 |
|
|
|
|
|
|
|
|
|
Expenses |
|
|
|
|
|
|
Advisory Fees (Note 2) |
|
143,606 |
|
199,781 |
|
|
Total Expenses |
|
143,606 |
|
199,781 |
|
|
|
|
|
|
|
|
|
Net Investment Income |
|
288,453 |
|
1,246,782 |
|
|
|
|
|
|
|
|
|
Realized and Unrealized Gain/(Loss) on Investments |
|
|
|
|
|
|
Net Realized Gain/(Loss) from: |
|
|
|
|
|
|
Investments(1) |
|
- |
|
(149,343 |
) |
|
Futures |
|
(1,132,710 |
) |
- |
|
|
Net Realized (Loss) |
|
(1,132,710 |
) |
(149,343 |
) |
|
|
|
|
|
|
|
|
Net Change In Unrealized Appreciation/(Depreciation) on: |
|
|
|
|
|
|
Investments |
|
(2,342 |
) |
(708,296 |
) |
|
Futures |
|
507,543 |
|
- |
|
|
Net Change in Unrealized Appreciation/(Depreciation): |
|
505,201 |
|
(708,296 |
) |
|
|
|
|
|
|
|
|
Net Realized and Unrealized Gain/(Loss) on Investments |
|
(627,509 |
) |
(857,639 |
) |
|
|
|
|
|
|
|
|
Net Increase/(Decrease) in Net Assets Resulting |
|
$(339,056 |
) |
$389,143 |
|
(1)Includes realized gains/(losses) from in-kind transactions (Note 3).
The accompanying notes are an integral part of these financial statements.
6(216) 329-4271 | www.idx-funds.com
IDX ETF Funds
Statements of Changes in Net AssetsApril 30, 2026
|
|
IDX Alternative FIAT ETF (Consolidated) |
|
IDX Dynamic Fixed |
|
|||||
|
|
Period Ended April 30, 2026 |
|
Period Ended October 31, 2025(1) |
|
Period Ended April 30, 2026 |
|
Year Ended October 31, 2025 |
|
|
|
From Operations |
|
|
|
|
|
|
|
|
|
|
Net Investment Income / (Loss) |
|
$288,453 |
|
$(11 |
) |
$1,246,782 |
|
$1,919,569 |
|
|
Net Realized Gain / (Loss) |
|
(1,132,710 |
) |
- |
|
(149,343 |
) |
(987,485 |
) |
|
Net Change In Unrealized Appreciation / (Depreciation) |
|
505,201 |
|
(201,817 |
) |
(708,296 |
) |
440,882 |
|
|
Net Increase / (Decrease) in Net Assets Resulting From Operations |
|
(339,056 |
) |
(201,828 |
) |
389,143 |
|
1,372,966 |
|
|
Distributions To Shareholders |
|
|
|
|
|
|
|
|
|
|
Total Distributions From |
|
(60,479 |
) |
- |
|
(1,273,195 |
) |
(1,872,708 |
) |
|
Net Decrease in Net Assets from Distributions to Shareholders |
|
(60,479 |
) |
- |
|
(1,273,195 |
) |
(1,872,708 |
) |
|
Capital Shares Transactions |
|
|
|
|
|
|
|
|
|
|
Shares Sold |
|
57,300,394 |
|
12,912,638 |
|
3,461,368 |
|
42,841,621 |
|
|
Shares Redeemed |
|
(24,130,870 |
) |
- |
|
(5,319,028 |
) |
(12,772,978 |
) |
|
Net Increase / (Decrease) in Net Assets from Capital Stock Transactions |
|
33,169,524 |
|
12,912,638 |
|
(1,857,660 |
) |
30,068,643 |
|
|
Total Increase / (Decrease) in Net Assets |
|
32,769,989 |
|
12,710,810 |
|
(2,741,712 |
) |
29,568,901 |
|
|
Net Assets |
|
|
|
|
|
|
|
|
|
|
Beginning of Year/Period |
|
12,710,810 |
|
- |
|
57,719,153 |
|
28,150,252 |
|
|
End of Year/Period |
|
$45,480,799 |
|
$12,710,810 |
|
$54,977,441 |
|
$57,719,153 |
|
|
Share Activity |
|
|
|
|
|
|
|
|
|
|
Subscriptions |
|
2,380,000 |
|
520,000 |
|
150,000 |
|
1,840,000 |
|
|
Redemptions |
|
(1,010,000 |
) |
- |
|
(230,000 |
) |
(550,000 |
) |
|
Net Increase / (Decrease) in Shares Outstanding from Share Transactions |
|
1,370,000 |
|
520,000 |
|
(80,000 |
) |
1,290,000 |
|
|
Shares Outstanding |
|
|
|
|
|
|
|
|
|
|
Beginning of Year/Period |
|
520,000 |
|
- |
|
2,490,000 |
|
1,200,000 |
|
|
End of Year/Period |
|
1,890,000 |
|
520,000 |
|
2,410,000 |
|
2,490,000 |
|
(1)The Fund commenced operations on October 24, 2025.
The accompanying notes are an integral part of these financial statements.
Semi-Annual Financial Statements | April 30, 20267
IDX ETF Funds
Financial HighlightsApril 30, 2026
Per Share Data And Ratios For A Share Of Beneficial Interest Outstanding Throughout Each Year/Period Presented.
|
|
|
IDX Alternative FIAT ETF (Consolidated) |
|
||
|
|
|
Period Ended April 30, 2026 |
|
Period Ended October 31, 2025(1) |
|
|
Net Asset Value, Beginning of Year/Period |
|
$24.44 |
|
$25.00 |
|
|
From investment operations: |
|
|
|
|
|
|
Net investment income(2) |
|
0.23 |
|
- |
(3) |
|
Net realized and unrealized gain/(loss) on investment activity(4) |
|
(0.56 |
) |
(0.56 |
) |
|
Total from investment operations |
|
(0.33 |
) |
(0.56 |
) |
|
Less distributions from: |
|
|
|
|
|
|
Net investment income |
|
(0.05 |
) |
- |
|
|
Total distributions |
|
(0.05 |
) |
- |
|
|
Net Asset Value, End of Year/Period |
|
$24.06 |
|
$24.44 |
|
|
Total Return(5) |
|
(1.35 |
)%(6) |
(2.22 |
)%(6) |
|
Ratios/Supplemental Data: |
|
|
|
|
|
|
Net Asset Value, End of Year/Period (000s) |
|
$45,481 |
|
$12,711 |
|
|
Ratio of Gross expenses to average net assets |
|
0.95 |
%(7) |
0.95 |
%(7) |
|
Ratio of net investment income/(loss) to average net assets |
|
1.92 |
%(7) |
(0.01 |
)%(7) |
|
Portfolio Turnover Rate(8) |
|
0.00 |
%(9) |
0.00 |
%(9) |
(1)The Fund commenced operations on October 23, 2025.
(2)Net investment income/(loss) per share represents net investment income/(loss) divided by the daily average shares outstanding through the period/year.
(3Amount is less than $0.005.
(4)Realized and unrealized gains and losses per share in this caption are balancing amounts necessary to reconcile the change in net asset value per share for the period/year and may not reconcile with the aggregate gains and losses in the statement of operations due to share transactions for the period/year.
(5)Total Return on Net Asset Value is based on the change in net asset value ("NAV") of a share during the period/year and assumes reinvestment of dividends and distributions at NAV. The return shown does not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.
(6)Total Return on Net Asset Value is for the period indicated and has not been annualized.
(7)Annualized.
(8)Excludes the impact of in-kind transactions.
(9)Not annualized.
The accompanying notes are an integral part of these financial statements.
8(216) 329-4271 | www.idx-funds.com
IDX ETF Funds
Financial HighlightsApril 30, 2026
Per Share Data And Ratios For A Share Of Beneficial Interest Outstanding Throughout Each Year/Period Presented.
|
|
IDX Dynamic Fixed Income ETF |
|
|||||
|
|
Period Ended April 30, 2026 |
|
Year Ended October 31, 2025 |
|
Period Ended October 31, 2014(1) |
|
|
|
|
|
|
|
|
|
|
|
|
Net Asset Value, Beginning of Year/Period |
|
$23.18 |
|
$23.46 |
|
$25.00 |
|
|
From investment operations: |
|
|
|
|
|
|
|
|
Net investment income(2) |
|
0.50 |
|
1.21 |
|
0.98 |
|
|
Net realized and unrealized gain/(loss) on |
|
(0.36 |
) |
(0.33 |
) |
(1.53 |
) |
|
Total from investment operations |
|
0.14 |
|
0.88 |
|
(0.55 |
) |
|
Less distributions from: |
|
|
|
|
|
|
|
|
Net investment income |
|
(0.51 |
) |
(1.16 |
) |
(0.98 |
) |
|
Return of capital |
|
- |
|
- |
|
(0.01 |
) |
|
Total distributions |
|
(0.51 |
) |
(1.16 |
) |
(0.99 |
) |
|
Net Asset Value, End of Year/Period |
|
$22.81 |
|
$23.18 |
|
$23.46 |
|
|
Total Return(4) |
|
1.15 |
%(5) |
3.86 |
% |
(2.21 |
)%(5) |
|
Ratios/Supplemental Data: |
|
|
|
|
|
|
|
|
Net Asset Value, End of Year/Period (000s) |
|
$54,977 |
|
$57,719 |
|
$28,150 |
|
|
Ratio of Gross expenses to average net assets |
|
0.70 |
%(6) |
0.70 |
% |
0.70 |
%(6) |
|
Ratio of net investment income/(loss) to average |
|
4.37 |
%(6) |
5.23 |
% |
5.01 |
%(6) |
|
Portfolio Turnover Rate(7) |
|
95.51 |
%(8) |
473.01 |
% |
901.78 |
%(8) |
(1) The Fund commenced operations on January 10, 2024.
(2)Net investment income/(loss) per share represents net investment income/(loss) divided by the daily average shares outstanding through the period/year.
(3)Realized and unrealized gains and losses per share in this caption are balancing amounts necessary to reconcile the change in net asset value per share for the period/year and may not reconcile with the aggregate gains and losses in the statement of operations due to share transactions for the period/year.
(4)Total Return on Net Asset Value is based on the change in net asset value ("NAV") of a share during the period/year and assumes reinvestment of dividends and distributions at NAV. The return shown does not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.
(5)Total Return on Net Asset Value is for the period indicated and has not been annualized.
(6)Annualized.
(7)Excludes the impact of in-kind transactions.
(8)Not annualized.
The accompanying notes are an integral part of these financial statements.
Semi-Annual Financial Statements | April 30, 20269
IDX ETF Funds
Notes to the Financial StatementsApril 30, 2026
NOTE 1 -ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES
The IDX Alternative FIAT ETF ("Alternative FIAT") and IDX Dynamic Fixed Income ETF ("Dynamic Fixed Income") (each a "Fund" and collectively, the "Funds") are non-diversified series of ETF Opportunities Trust, a Delaware statutory trust (the "Trust") which was organized on March 18, 2019 and is registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end management investment company. The offering of the Funds' shares is registered under the Securities Act of 1933. The Funds commenced operations on October 23, 2025 and January 10, 2024, respectively.
The investment objectives of the Funds are as follows:
|
Fund |
Objective |
|
Alternative FIAT |
To seek capital appreciation |
|
Dynamic Fixed Income |
To seek high current income |
The Funds are deemed to be an individual reporting segments and are not part of a consolidated reporting entity. The objective and strategy of each Fund is used by IDX Advisors, LLC (the "Advisor") to make investment decisions, and the results of the Funds' operations, as shown in its Statements of Operations and Financial Highlights, is the information utilized for the day-to-day management of the Funds. Due to the significance of oversight and its role in the Funds' management, the Advisor's Chief Investment Officer is deemed to be the Chief Operating Decision Maker.
The following is a summary of significant accounting policies consistently followed by the Funds. The policies are in conformity with accounting principles generally accepted in the United States of America ("GAAP"). The Funds follow the investment company accounting and reporting guidance of the Financial Accounting Standards Board ("FASB") Accounting Standards Codification Topic 946 "Financial Services - Investment Companies".
Wholly owned and Controlled Subsidiary
In order to achieve its investment objective, Alternative FIAT invests up to 25% of its total assets (measured at the time of purchase) in a wholly owned subsidiary, IDX Alternative FIAT (Cayman) Portfolio S.P. ("IDX Subsidiary"); IDX Subsidiary is incorporated under the laws of the Cayman Islands. IDX Subsidiary commenced operations on October 23, 2025, as an exempted Cayman Islands company with limited liability. IDX Subsidiary acts as an investment vehicle in order to enter into certain investments for Alternative FIAT, consistent with its investment objectives and policies specified in the Prospectuses and Statement of Additional Information.
The Consolidated Financial Statements of Alternative Fiat includes the investment activity and financial statements of IDX Subsidiary. All intercompany accounts and transactions have been eliminated in consolidation. Because Alternative FIAT may invest a substantial portion of its assets in IDX Subsidiary, Alternative FIAT may be considered to be investing indirectly in some of those investments through IDX Subsidiary. For that reason, references to the Alternative FIAT may also encompass IDX Subsidiary. IDX Subsidiary will be subject to the same investment restrictions and limitations and follow the same compliance policies and procedures as Alternative FIAT when viewed on a consolidated basis. Alternative FIAT and its subsidiary are a "commodity pool" under the U.S. Commodity Exchange Act and the Adviser is a "commodity pool operator" registered with and
10(216) 329-4271 | www.idx-funds.com
IDX ETF Funds
Notes to the Financial Statements (Continued)April 30, 2026
regulated by the Commodity Futures Trading Commission ("CFTC"). As a result, additional CFTC-mandated disclosure, reporting, and recordkeeping obligations apply with respect to Alternative FIAT and IDX Subsidiary under CFTC and the U.S. Securities and Exchange Commission (the "SEC") harmonized regulations.
As of April 30, 2026, investments in the IDX Subsidiary represented 24.85% of the total net assets of Alternative FIAT.
Security Valuation
The Funds value their investments at fair value. Generally, the Funds' domestic common stocks, including ETFs, are valued each day at the last quoted sales price on each security's primary exchange. Securities traded or dealt in upon one or more securities exchanges for which market quotations are readily available and not subject to restrictions against resale are valued at the last quoted sales price on the primary exchange or, in the absence of a sale on the primary exchange, at the mean between the current bid and ask prices on such exchange. Other assets for which market prices are not readily available are valued at their fair value under procedures set by the Board of Trustees (the "Board"). Although the Board is ultimately responsible for fair value determinations under Rule 2a-5 of the 1940 Act, the Board has delegated day-to-day responsibility for oversight of the valuation of the Fund's assets to the Advisor as the Valuation Designee pursuant to the Funds' policies and procedures. Securities that are not traded or dealt in any securities exchange (whether domestic or foreign) and for which over-the-counter market quotations are readily available generally shall be valued at the last sale price or, in the absence of a sale, at the mean between the current bid and ask price on such over-the-counter market.
Money market funds are valued at their net asset value of $1.00 per share and are categorized as Level 1 of the fair value hierarchy.
Futures contracts are valued at the settlement price determined by the applicable U.S. securities exchanges on the date with respect to which the net asset value ("NAV") is being determined, or if no settlement price is available, at the last sale price as of the close of business prior to the NAV determination on such day.
The Funds have a policy that contemplates the use of fair value pricing to determine the NAV per share of each Fund when market prices are unavailable as well as under special circumstances, such as: (i) if the primary market for a portfolio security suspends or limits trading or price movements of the security; and (ii) when an event occurs after the close of the exchange on which a portfolio security is principally traded, but prior to the time as of which the Fund's NAV is calculated, that is likely to have changed the value of the security. Since most of the Funds' investments are traded on U.S. securities exchanges, it is anticipated that the use of fair value pricing will be limited.
When a Fund uses fair value pricing to determine the NAV per share of the Fund, securities will not be priced on the basis of quotations from the primary market in which they are traded, but rather may be priced by another method that the Valuation Designee believes accurately reflects fair value. Any method used will be approved by the Board and results will be monitored to evaluate accuracy. The Funds' policy is intended to result in a calculation of each Fund's NAV that fairly reflects security values as of the time of pricing.
Semi-Annual Financial Statements | April 30, 202611
IDX ETF Funds
Notes to the Financial Statements (Continued)April 30, 2026
The Funds have adopted fair valuation accounting standards that establish an authoritative definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs used to develop the measurements of fair value. These inputs are summarized in the three broad levels listed below.
Level 1 includes quoted prices in active markets for identical securities.
Level 2 includes other significant observable market-based inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
Level 3includes significant unobservable inputs (including the Fund's own assumptions in determining fair value of investments).
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.
The following is a summary of the level of inputs used to value the Funds' investments as of April 30, 2026:
Alternative FIAT
|
Security Classification |
|
Level 1 |
|
Level 2 |
|
Level 3 |
|
Total |
|
|
Assets: |
|
|
|
|
|
|
|
|
|
|
Investments |
|
|
|
|
|
|
|
|
|
|
Exchange Traded Funds(a) |
|
$473,740 |
|
$- |
|
$- |
|
$473,740 |
|
|
Short-Term Investments |
|
34,133,992 |
|
- |
|
- |
|
34,133,992 |
|
|
|
$34,607,732 |
|
$- |
|
$- |
|
$34,607,732 |
|
|
|
Other financial Instruments(b) |
|
|
|
|
|
|
|
|
|
|
Unrealized appreciation of open futures contracts |
|
$753,832 |
|
$- |
|
$- |
|
$753,832 |
|
|
|
$35,361,564 |
|
$- |
|
$- |
|
$35,361,564 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities: |
|
|
|
|
|
|
|
|
|
|
Other financial Instruments(b) |
|
|
|
|
|
|
|
|
|
|
Unrealized depreciation of open futures contracts |
|
(440,468 |
) |
- |
|
- |
|
(440,468 |
) |
|
|
$(440,468 |
) |
$- |
|
$- |
|
$(440,468 |
) |
(a)For a detailed break-out of Exchange Traded Funds by industry, please refer to the Consolidated Schedules of Investments.
(b)Other financial instruments are derivative financial instruments not reflected in the Schedules of Investments, such as futures contracts. These contracts are valued at the unrealized appreciation / (depreciation) on the instrument.
12(216) 329-4271 | www.idx-funds.com
IDX ETF Funds
Notes to the Financial Statements (Continued)April 30, 2026
Dynamic Fixed Income
|
Security Classification |
|
Level 1 |
|
Level 2 |
|
Level 3 |
|
Total |
|
|
Investments |
|
|
|
|
|
|
|
|
|
|
Exchange Traded Funds(a) |
|
$54,633,966 |
|
$- |
|
$- |
|
$54,633,966 |
|
|
Total Investments |
|
$54,633,966 |
|
$- |
|
$- |
|
$54,633,966 |
|
(a)For a detailed break-out of Exchange Traded Funds by industry, please refer to the Schedules of Investments.
Security Transactions and Income
Security transactions are accounted for on the trade date. The cost of securities sold is determined generally on specific identification basis. Realized gains and losses from security transactions are determined on the basis of identified cost for book and tax purposes. Dividends are recorded on the ex-dividend date. Interest income is recorded on an accrual basis. Long-term capital gain distributions from underlying ETFs are classified to realized gains for financial reporting purposes.
Cash at Brokers and Due to Broker
Cash at broker is held as collateral. As of April 30, 2026, $10,508,081 of the Fund's cash was deposited with a broker. During the period ended April 30, 2026, there were no amounts due to broker.
Accounting Estimates
In preparing financial statements in conformity with GAAP, management makes estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of investment income and expenses during the reporting period. Actual results could differ from those estimates.
Federal Income Taxes
The Funds have complied and intend to continue to comply with the requirements of the Internal Revenue Code applicable to regulated investment companies and to distribute all of its taxable income to its shareholders.
The Funds also intend to distribute sufficient net investment income and net capital gains, if any, so that they will not be subject to excise tax on undistributed income and gains. Therefore, no federal income tax or excise provision is required.
Management has concluded that no liability for unrecognized tax benefits should be recorded related to uncertain tax positions taken in the Funds' tax returns. The Funds have no examinations in progress and management is not aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly change in the next twelve months. Interest and penalties, if any, associated with any federal or state income tax obligations are recorded as income tax expense as incurred.
Reclassification of Capital Accounts
GAAP requires that certain components of net assets relating to permanent differences be reclassified between financial and tax reporting. For the period ended April 30, 2026, there were no such reclassifications.
Semi-Annual Financial Statements | April 30, 202613
IDX ETF Funds
Notes to the Financial Statements (Continued)April 30, 2026
Dividends and Distributions
Ordinarily, dividends from net investment income, if any, are declared and paid at least monthly with respect to Dynamic Fixed Income and at least annually with respect to Alternative FIAT. Each of Dynamic Fixed Income and Alternative FIAT will distribute its net realized capital gains, if any, to shareholders at least annually. Dynamic Fixed Income and Alternative FIAT may also pay a special distribution at the end of a calendar year to comply with federal tax requirements. All distributions are recorded on the ex-dividend date.
Creation Units
The Funds issue and redeem shares to certain institutional investors (typically market makers or other broker-dealers) only in large blocks of at least 10,000 shares known as "Creation Units." Purchasers of Creation Units ("Authorized Participants") will be required to pay to Citibank, N.A. and U.S. Bank N.A. (the "Custodians") a fixed transaction fee ("Creation Transaction Fee") in connection with creation orders that is intended to offset the transfer and other transaction costs associated with the issuance of Creation Units. The standard Creation Transaction Fee will be the same regardless of the number of Creation Units purchased by an investor on the applicable Business Day. The Creation Transaction Fee charged by the Custodians for each creation order is $250 and $300 for Dynamic Fixed Income and Alternative FIAT, respectively. Authorized Participants wishing to redeem shares will be required to pay to the Custodians a fixed transaction fee ("Redemption Transaction Fee") to offset the transfer and other transaction costs associated with the redemption of Creation Units. The standard Redemption Transaction Fee will be the same regardless of the number of Creation Units redeemed by an investor on the applicable Business Day. The Redemption Transaction Fee charged by the Custodians for each redemption order is $250 and $300 for Dynamic Fixed Income and Alternative FIAT, respectively.
Except when aggregated in Creation Units, shares are not redeemable securities. Shares of the Funds may only be purchased or redeemed by Authorized Participants. An Authorized Participant is either (i) a broker-dealer or other participant in the clearing process through the Continuous Net Settlement System of the National Securities Clearing Corporation or (ii) a Depository Trust Company ("DTC") participant and, in each case, must have executed an agreement with the Funds' principal underwriter (the "Distributor") with respect to creations and redemptions of Creation Units ("Participation Agreement"). Most retail investors will not qualify as Authorized Participants or have the resources to buy and sell whole Creation Units. Therefore, they will be unable to purchase or redeem the shares directly from the Fund. Rather, most retail investors will purchase shares in the secondary market with the assistance of a broker and will be subject to customary brokerage commissions or fees. The following table discloses the Creation Unit breakdown based on the NAV as of October 31, 2025:
|
Fund |
Creation |
|
Creation Transaction Fee |
|
Value |
|
Alternative FIAT |
10,000 |
|
$300 |
|
$240,600 |
|
Dynamic Fixed Income |
10,000 |
|
$250 |
|
$228,100 |
To the extent contemplated by a participant agreement, in the event an Authorized Participant has submitted a redemption request in proper form but is unable to transfer all or part of the shares comprising a Creation Unit to be redeemed to the Distributor, on behalf of the Funds, by the time as set forth in a participant agreement, the Distributor may nonetheless accept the redemption request in reliance on the undertaking by the Authorized Participant to deliver the missing shares as soon as
14(216) 329-4271 | www.idx-funds.com
IDX ETF Funds
Notes to the Financial Statements (Continued)April 30, 2026
possible, which undertaking shall be secured by the Authorized Participant's delivery and maintenance of collateral equal to a percentage of the value of the missing shares as specified in the participant agreement.
A participant agreement may permit the Funds to use such collateral to purchase the missing shares, and could subject an Authorized Participant to liability for any shortfall between the cost of the Funds acquiring such shares and the value of the collateral. Amounts are disclosed as Segregated Cash Balance from Authorized Participants for Deposit Securities and Collateral Payable upon Return of Deposit Securities on the Statements of Assets and Liabilities, when applicable.
Officers and Trustees Indemnification
Under the Trust's organizational documents, its officers and trustees are indemnified against certain liabilities arising out of the performance of their duties to the Funds. In addition, in the normal course of business, the Funds enter into contracts with its vendors and others that provide for general indemnifications. The Funds' maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Funds. However, based on experience, the Funds expect that risk of loss to be remote.
| NOTE 2 - | INVESTMENT ADVISORY AND DISTRIBUTION AGREEMENTS AND OTHER TRANSACTIONS WITH AFFILIATES |
The Advisor currently provides investment advisory services pursuant to an investment advisory agreement (the "Advisory Agreement"). Under the terms of the Advisory Agreement, the Advisor is responsible for the day-to-day management of each of the Funds' investments. The Advisor also: (i) furnishes the Funds with office space and certain administrative services; (ii) provides guidance and policy direction in connection with its daily management of each Fund's assets, subject to the authority of the Board; and (iii) is responsible for oversight of the Funds' sub-advisor. Under the Advisory Agreement, the Advisor has agreed, at its own expense and without reimbursement from the Funds, to pay all expenses of each Fund, except for: the fee paid to the Advisor pursuant to the Advisory Agreement, interest expenses, taxes, acquired fund fees and expenses, brokerage commissions and any other portfolio transaction related expenses and fees arising out of transactions effected on behalf of the Funds, credit facility fees and expenses, including interest expenses, and litigation and indemnification expenses and other extraordinary expenses not incurred in the ordinary course of the Funds' business.
For its services with respect to the Funds, the Advisor is entitled to receive an annual advisory fee, calculated daily and payable monthly as a percentage of each Fund's average daily net assets, at a rate of 0.95% and 0.70% for Alternative FIAT and Dynamic Fixed Income Funds, respectively.
The Advisor has retained Tidal Investments, LLC (the "Sub-Advisor"), to serve as sub-advisor for the Fund. Pursuant to an Investment Sub-Advisory Agreement between the Advisor and the Sub-Advisor (the "Sub-Advisory Agreement"), the Sub-Advisor is responsible for the day-to-day management of the Fund's trading process, which includes Creation and/or Redemption basket processing. The Sub-Advisor does not select investments for the Fund's portfolio.
For its services, the Sub-Advisor is paid a fee by the Advisor, which is calculated daily and paid monthly, at an annual rate based on the average daily net assets of each Fund at the following rate: 0.04% on the first $500 million in net assets; and 0.03% on any net assets in excess of $500 million, subject to a $25,000 annual minimum fee.
Semi-Annual Financial Statements | April 30, 202615
IDX ETF Funds
Notes to the Financial Statements (Continued)April 30, 2026
Fund Administrator
Commonwealth Fund Services, Inc. ("CFS") acts as the Funds' administrator. As administrator, CFS supervises all aspects of the operations of the Fund except those performed by the Advisor and the Sub-Advisor. For its services, fees to CFS are computed daily and paid monthly. The Advisor pays these fees.
Custodian
Citibank, N.A. serves as the Dynamic Fixed Income Fund's Custodian pursuant to a Global Custodial and Agency Services Agreement. For its services, Citibank N.A. is entitled to a fee. The Advisor pays these fees monthly.
U.S. Bank N.A. acts as custodian for the Alternative FIAT Fund pursuant to a Custodial Services Agreement. For its services, U.S. Bank N.A. is entitled to a fee. The Advisor pays these fees monthly.
Fund Accountant and Transfer Agent
Citi Fund Services, Ohio, Inc. serves as the Dynamic Fixed Income Funds' Fund Accountant and Transfer Agent pursuant to a Services Agreement. The Advisor pays these fees monthly.
U.S. Bancorp Fund Services, LLC serves as the Alternative FIAT Fund's fund accountant and transfer agent pursuant to a Services Agreement. The Advisor pays these fees monthly.
Distributor
Foreside Fund Services, LLC serves as the Funds' principal underwriter pursuant to an ETF Distribution Agreement. The Advisor pays the fees for these services monthly.
Trustees and Officers
Each Trustee who is not an "interested person" of the Trust receives compensation for their services to the Funds. Each Trustee receives an annual retainer fee, paid quarterly. Trustees are reimbursed for any out-of-pocket expenses incurred in connection with attendance at meetings. The Advisor pays these fees.
Certain officers of the Trust are also officers and/or directors of CFS. Additionally, Practus LLP, serves as legal counsel to the Trust. John H. Lively, Secretary of the Trust, is Managing Partner of Practus LLP. J. Stephen King, Jr., Assistant Secretary of the Trust, is a Partner of Practus LLP. Robert Rhatigan, Assistant Secretary of the Trust, is a Partner of Practus LLP. Neither the officers and/or directors of CFS, Mr. Lively, Mr. King or Mr. Rhatigan receive any special compensation from the Trust or the Funds for serving as officers of the Trust.
The Funds' Chief Compliance Officer and Assistant Chief Compliance Officer are not compensated directly by the Funds for their service. However, the Assistant Chief Compliance Officer is the Managing Member of Watermark Solutions, LLC ("Watermark"), which provides certain compliance services to the Funds, including the provision of the Chief Compliance Officer and the Assistant Chief Compliance Officer. The Chief Compliance Officer is the Managing Member of Fit Compliance, LLC, which has been retained by Watermark to provide the Chief Compliance Officer's services.
NOTE 3 -INVESTMENTS
The costs of purchases and sales of securities, excluding in-kind transactions and short-term securities, during the period ended April 30, 2026 were as follows:
16(216) 329-4271 | www.idx-funds.com
IDX ETF Funds
Notes to the Financial Statements (Continued)April 30, 2026
|
Fund |
|
Purchases |
|
Sales |
|
Alternative FIAT |
|
$- |
|
$- |
|
Dynamic Fixed Income |
|
$54,097,933 |
|
$54,133,498 |
The costs of purchases and sales of in-kind transactions associated with creations and redemptions during the period ended April 30, 2026 were as follows:
|
Fund |
Purchases |
|
Sales |
|
Realized Gains (Losses) |
|
Alternative FIAT |
$- |
|
$- |
|
|
|
Dynamic Fixed Income |
$3,438,531 |
|
$5,271,578 |
|
$51,092 |
NOTE 4 -DERIVATIVE TRANSACTIONS
The Funds may buy or sell future contracts to increase exposure to the market, hedge market exposure of an existing portfolio, or decrease overall market exposure. The Adviser may invest in futures in this way to achieve a desired portfolio exposure. The Funds currently invest only in exchange-traded futures, which are standardized as to maturity date and underlying financial instrument.
Initial margin deposits required upon entering into futures contracts are satisfied by the segregation of specific securities or cash as collateral at the futures commission merchant (broker) and are recorded within deposit with brokers for derivative instruments on the Consolidated Statements of Assets and Liabilities. During the period, the futures contracts are open, changes in the value of the contracts are recognized as unrealized gains or losses by recalculating the value of the contracts daily. Subsequent or variation margin payments are received or made depending upon whether unrealized gains or losses are incurred. These amounts are reflected as unrealized appreciation or depreciation on the Consolidated Statements of Assets and Liabilities.
When the contracts are closed or expire, the Funds recognize a realized gain or loss equal to the difference between the proceeds from, or cost of, the closing transaction and the Funds' basis in the contract. The net realized gain (loss) and the change in unrealized gain (loss) on futures contracts held during the period is included in the Consolidated Statements of Operations.
Semi-Annual Financial Statements | April 30, 202617
IDX ETF Funds
Notes to the Financial Statements (Continued)April 30, 2026
The fair value of derivative instruments, not accounted for as hedging instruments, as reported within the Consolidated Statements of Assets and Liabilities as of April 30, 2026, for the Alternative FIAT Fund was as follows:
|
|
|
|
|
Fair Value |
|
|||
|
Type of Derivative |
Location |
Commodity Risk |
|
Asset Derivatives |
|
Liability Derivatives |
|
|
|
Future Contracts |
Unrealized appreciation of open futures contracts |
|
753,832 |
|
753,832 |
|
- |
|
|
Future Contracts |
Unrealized depreciation of open futures contracts |
|
(440,468 |
) |
- |
|
(440,468 |
) |
For the period ended April 30, 2026, Alternative FIAT financial derivative instruments had the following average notional values (indicating average volume for the period):
|
Type of Derivative |
Average Monthly |
|
|
Future Long Contracts |
$31,000,871 |
|
(a)The Fund considers the average monthly notional amounts during the period, categorized by derivative instrument, to be representative of its derivate activities for the period ended April 30, 2026.
For the period ended April 30, 2026, financial derivative instruments had the following effect on the Consolidated Statements of Operations for Alternative FIAT:
|
Type of Derivative |
Risk Type |
|
Realized |
|
Change in Unrealized Appreciation / (Depreciation) |
|
|
Future Contracts |
Commodity |
|
$(1,132,710) |
|
$507,543 |
|
|
Total |
|
|
$(1,132,710) |
|
$507,543 |
|
| NOTE 5 - | DISTRIBUTIONS TO SHAREHOLDERS AND TAX COMPONENTS OF CAPITAL |
Distributions are determined on a tax basis and may differ from net investment income and realized capital gains for financial reporting purposes. Differences may be permanent or temporary. Permanent differences are reclassified among capital accounts in the financial statements to reflect their tax character. Temporary differences arise when certain items of income, expense, gain or loss are recognized in different periods for financial statement and tax purposes; these differences will reverse at some time in the future. Differences in classification may also result from the treatment of short-term gains as ordinary income for tax purposes.
Alternative FIAT and Dynamic Fixed Income have fiscal tax year ends of September 30 and October 31, respectively.
18(216) 329-4271 | www.idx-funds.com
IDX ETF Funds
Notes to the Financial Statements (Continued)April 30, 2026
The tax character of distributions paid for the period ended April 30, 2026 were as follows:
|
Fund |
Ordinary Income |
|
Long Term Capital Gains |
|
Return of Capital |
|
Total |
|
Alternative FIAT |
$60,479 |
|
$- |
|
$- |
|
$60,479 |
|
Dynamic Fixed Income |
$1,273,195 |
|
$- |
|
$- |
|
$1,273,195 |
The tax character of distributions paid for the period ended October 31, 2025 were as follows:
|
Fund |
Ordinary Income |
|
Long Term Capital Gains |
|
Return of Capital |
|
Total |
|
Dynamic Fixed Income |
$1,872,708 |
|
$- |
|
$- |
|
$1,872,708 |
As of April 30, 2026 cost of securities for Federal Income tax purpose and the related tax-based net unrealized appreciation (depreciation) consists of:
|
Fund |
Tax Cost |
|
Gross Unrealized Appreciation |
|
Gross Unrealized Depreciation |
|
Net Unrealized Appreciation / (Depreciation) |
|
|
Alternative FIAT |
$34,617,712 |
|
$822,592 |
|
$(519,208 |
) |
$303,384 |
|
|
Dynamic Fixed Income |
$54,893,726 |
|
$34,738 |
|
$(294,498 |
) |
$(259,760 |
) |
Distributable earnings (accumulated deficit) for Federal Income tax purposes as of April 30, 2026 was as follows:
|
Fund |
Undistributed Ordinary Income |
|
Undistributed Long-Term Capital Gain/(Loss) |
|
Other Accumulated Earnings / (Losses) |
|
Net Unrealized Depreciation |
|
Total Accumulated Deficit |
|
|
Alternative FIAT |
$227,963 |
|
$(1,132,710 |
) |
$- |
|
$303,384 |
|
$(601,363 |
) |
|
Dynamic Fixed Income |
$20,448 |
|
$(2,955,965 |
) |
$- |
|
$(259,760 |
) |
$(3,195,277 |
) |
At October 31, 2025, the Funds had the following capital loss carryovers:
|
|
Capital Loss Carryover |
|
Year of Expiration |
||
|
Fund |
Short-Term |
|
Long-Term |
|
|
|
Dynamic Fixed Income |
$2,708,289 |
|
$- |
Indefinitely |
|
NOTE 6 -TRANSACTIONS IN SHARES OF BENEFICIAL INTEREST
Shares of Dynamic Innovation and Dynamic Fixed Income are listed for trading on the NASDAQ Stock Market® (the "Exchange"), and trade at market prices rather than at NAV. Shares of the Funds may trade at a price that is greater than, at, or less than NAV. The Funds will issue and redeem Shares at NAV only in large blocks of 10,000 shares (each block of shares is called a "Creation Unit"). Creation
Semi-Annual Financial Statements | April 30, 202619
IDX ETF Funds
Notes to the Financial Statements (Continued)April 30, 2026
Units are issued and redeemed for cash and/or in-kind for securities. Individual shares may only be purchased and sold in secondary market transactions through brokers. Except when aggregated in Creation Units, the shares are not redeemable securities of the Funds.
All orders to create Creation Units must be placed with the Funds' distributor or transfer agent either (1) through the Continuous Net Settlement System of the NSCC ("Clearing Process"), a clearing agency that is registered with the Securities and Exchange Commission ("SEC"), by a "Participating Party," i.e., a broker-dealer or other participant in the Clearing Process; or (2) outside the Clearing Process by a DTC Participant. In each case, the Participating Party or the DTC Participant must have executed an agreement with the Distributor with respect to creations and redemptions of Creation Units ("Participation Agreement"); such parties are collectively referred to as "APs" or "Authorized Participants." Investors should contact the Distributor for the names of Authorized Participants. All Fund shares, whether created through or outside the Clearing Process, will be entered on the records of DTC for the account of a DTC Participant.
NOTE 7 -RISKS OF INVESTING IN THE FUNDS
An investment in the Funds entails risk. A Fund may not achieve its investment objective and there is a risk that you could lose all of your money invested in a Fund. A Fund is not a complete investment program. An investment in the Funds is not a bank deposit and is not insured or guaranteed by the FDIC or any government agency. A complete description of the principal risks is included in the Funds' prospectus under the heading "Principal Risks."
NOTE 8 -SUBSEQUENT EVENTS
Management has evaluated all transactions and events subsequent to the date of the Statements of Assets and Liabilities through the date on which these financial statements were issued. Except as already included in the notes to these financial statements, no additional items require disclosure.
20(216) 329-4271 | www.idx-funds.com
IDX ETF Funds
Additional InformationApril 30, 2026
Changes In and Disagreements with Accountants for Open-End Management Investment Companies
Not applicable.
Proxy Disclosures For Open-End Management Investment Companies
Not applicable.
Remuneration Paid to Trustees, Officers, and Others of Open-End Management Investment Companies
Because IDX Advisors, LLC (the "Advisor") has agreed in the Investment Advisory Agreement to cover all operating expenses of the Funds, subject to certain exclusions as provided for therein, the Advisor pays the compensation to each Independent Trustee and the Chief Compliance Officer for services to the Fund from the Advisor's management fees.
Statement Regarding the Basis for Approval of Investment Advisory Contract
Not applicable.
| ITEM 8. | CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES. |
Not applicable.
ITEM 9. PROXY DISCLOSURES FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.
Not applicable.
ITEM 10. REMUNERATION PAID TO DIRECTORS, OFFICERS, AND OTHERS OF OPEN-END MANAGEMENT INVESTMENT COMPANIES.
Reference Item 7 which includes remuneration paid to the Trustees and Officers in the Supplemental Information.
ITEM 11. STATEMENT REGARDING BASIS FOR APPROVAL OF INVESTMENT ADVISORY CONTRACT.
Not applicable.
| ITEM 12. | DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES. |
Not applicable to this Registrant because it is not a closed-end management investment company.
| ITEM 13. | PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES. |
Not applicable to this Registrant because it is not a closed-end management investment company.
| ITEM 14. | PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS. |
Not applicable to this Registrant because it is not a closed-end management investment company.
| ITEM 15. | SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS. |
There have been no material changes to the procedures by which shareholders may recommend nominees to the registrant's board of trustees.
ITEM 16. CONTROLS AND PROCEDURES.
(a) The registrant's principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the "1940 Act") (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of the report that includes the disclosure required by this paragraph, based on their evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended (17 CFR 240.13a-15(b) or 240.15d- 15(b)).
(b) There were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting.
| ITEM 17. | DISCLOSURE OF SECURITIES LENDING ACTIVITIES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES. |
Not applicable to this Registrant because it is not a closed-end management investment company.
| ITEM 18. | RECOVERY OF ERRONEOUSLY AWARDED COMPENSATION. |
Not applicable.
| ITEM 19. | EXHIBITS. |
| (a)(1) | Code of Ethics in response to Item 2 of this Form N-CSR - Not applicable. |
| (a)(2) | Any policy required by the listing standards adopted pursuant to Rule 10D-1 under the Exchange Act of 1934 - Not applicable. |
| (a)(3) | Certifications pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 are attached hereto. |
(a)(3)(1) Any written solicitation to purchase securities under Rule 23c-1 under the Investment Company Act of 1940 - Not applicable.
(a)(3)(2) Change in the registrant's independent public accountant - Not applicable.
| (b) | Certifications pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 are attached hereto. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Registrant: ETF Opportunities Trust
| By (Signature and Title)*: | /s/ Karen Shupe |
|
Karen Shupe Principal Executive Officer |
|
| Date: July 7, 2026 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
| By (Signature and Title)*: | /s/ Karen Shupe |
|
Karen Shupe Principal Executive Officer |
|
| Date: July 7, 2026 | |
| By (Signature and Title)*: | /s/ Ann MacDonald |
|
Ann MacDonald Principal Financial Officer |
|
| Date: July 7, 2026 |
* Print the name and title of each signing officer under his or her signature.
ETF Opportunities Trust published this content on July 07, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on July 07, 2026 at 16:00 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]