ATLASNorthern Lights Fund Trust II A (IUSA): outlook, holdings and fees
Northern Lights Fund Trust II A (IUSA) is an exchange-traded fund and is managed by Amberwave Partners. The expense ratio is 0.63%. The ten largest holdings are 20% of the fund.
Fund data as of Oct 14, 2026 · Price Nov 2, 2026
ATLAS view on IUSA
| Last price | $5,666.00 (+0.3%) |
|---|---|
| ATLAS chance of a higher price in 1 month | 57% |
| Likely 1-month range (50%) | $5,576.52 – $5,817.18 |
| Normal 1-day range (±1σ) | ±0.7% |
ATLAS probabilities use the same calibrated model as every stock page. A fair value is shown for companies, not funds; the holdings below link to the fair value of each company.
IUSA fund facts
| Issuer | Amberwave Partners |
|---|---|
| Theme | Other strategies |
| Assets under management | $1.6M |
| Expense ratio | 0.63% |
| Number of holdings | 99 |
| Portfolio turnover | 0% |
| Inception | Jan 19, 2022 |
| Exchange | NYSE |
Under normal market conditions, the Adviser seeks to achieve the fund"s investment objective by investing in the equity securities of U.S. companies in the S&P 500 that the Adviser determines score highly on the Adviser"s proprietary jobs, security and growth (JSG) scoring methodology, while also seeking to outperform the broad equity market. The fund, however, does typically maintain a portion of its assets in cash, typically 1 to 3%.
IUSA top holdings
| Holding | Sector | Weight |
|---|---|---|
| Microsoft Corporation MSFT | Technology | 2.61% |
| Visa Inc. Class A V | Financial Services | 2.28% |
| UnitedHealth Group Incorporated UNH | Healthcare | 2.05% |
| Broadcom Inc AVGO | Technology | 1.96% |
| Walmart Inc. WMT | Consumer Defensive | 1.95% |
| Intel Corporation INTC | Technology | 1.77% |
| Amazon.com Inc AMZN | Consumer Cyclical | 1.86% |
| PayPal Holdings Inc PYPL | Financial Services | 1.81% |
| Applied Materials Inc AMAT | Technology | 1.78% |
| Oracle Corporation ORCL | Technology | 1.75% |
Holdings with an ATLAS page link to their probability range, fair value and earnings calendar.
IUSA returns and risk
| Year to date | +2.6% |
|---|---|
| 1 year | -6.6% |
| 3 years (annualised) | 0.0% |
| 5 years (annualised) | 0.0% |
| 10 years (annualised) | 0.0% |
| Volatility (3 years) | 0.0% |
| Sharpe ratio (3 years) | 0.00 |
Past returns do not guarantee future results.
IUSA: frequently asked questions
What does IUSA invest in?
Northern Lights Fund Trust II A invests in a portfolio of securities. Its largest holdings are Microsoft Corporation (2.6%), Visa Inc. Class A (2.3%), UnitedHealth Group Incorporated (2.1%), Broadcom Inc (2.0%), Walmart Inc. (2.0%).
What is the IUSA expense ratio?
0.63% a year: about $63.00 for every $10,000 invested.
Will IUSA go up?
Nobody can know. The ATLAS model puts the chance of a higher price in one month at 57%, with a likely range (50%) of $5,576.52 to $5,817.18 from $5,666.00 today. It is a probability, not a prediction.
How has IUSA performed?
Year to date +2.6%, one year -6.6%, three years 0.0% a year, five years 0.0% a year. Past returns do not guarantee future results.
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Educational information, not investment advice. Disclaimer