No Underlying Index ETFs List of USA 2023: FKnol.com

USA ETF Screener:

A special category of exchange traded funds exist under which the ETFs don't follow any particular underlying index or a benchmark index. Such ETFs are called the No Underlying Index ETF.
ETFs are traditionally known to be based on a particular index, and are expected to track them and match their performance. However, as the field of ETFs evolved, all sorts of combinations emerged in the market. The No Underlying Index ETF belong to the class of actively managed ETFs, and their investments may span across a wide variety of asset classes like equity, fixed income, commodities, alternatives and currencies. (See more, List of Hedge Fund ETFs.)
(See also, List of Alternatives ETFs.)
Following is the list of all 283 exchange-traded funds that FKnol has in its database for ETFs which belong to the No Underlying Index category:

All No Underlying Index ETFs

List of All No Underlying Index ETFs

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No.	Name (Ticker)	Short Description	Current Price	%YTD Gains	Expense Ratio	No. of Holdings*

Sorted by Ticker. Click on the arrow buttons to sort the table as per the desired column
1.	AdvisorShares Dorsey Wright ADR ETF (AADR)	The AdvisorShares Dorsey Wright ADR ETF is an actively managed ETF that aims to outperform the international market by holding ADRs with high Relative Strength. ...Detailed Profile Dividend Frequency: Quarterly Dividend History Category: Global Equities	$46.3	-3.06%	0.89%	37 Full List
2.	Absolute Core Strategy ETF (ABEQ)	ABEQ is an actively-managed portfolio of US stocks seeking positive absolute returns. ...Detailed Profile Dividend Frequency: Dividend History Category:	$27.23	-2.16%	0%	0 Full List
3.	ETF No Underlying Index ZVZZT Corp Ltd. (ZVZZT)	The ETF No Underlying Index belonging to the category, sub-sector and trading in the US market has the following ETF profile. ...See Detailed ETF Profile Dividend History List of ETFs holding Stock	Members Only! Login / Register to view or

4.	Anfield Universal Fixed Income ETF (AESR)	AESR is an actively managed fund-of-funds of large-cap US equities that uses macroeconomic and forecasting methodology to pursue a sector rotation strategy. ...Detailed Profile Dividend Frequency: Dividend History Category: Large Cap Growth Equities	$11.51	0.52%	1.42%	10
5.	Anfield Universal Fixed Income ETF (AFIF)	The Anfield Universal Fixed Income ETF is an actively managed, diversified global portfolio of fixed income instruments. ...Detailed Profile Dividend Frequency: Annually Dividend History Category: Total Bond Market	$8.79	0.46%	1%	6 Full List
6.	ETF No Underlying Index ZVZZT Corp Ltd. (ZVZZT)	The ETF No Underlying Index belonging to the category, sub-sector and trading in the US market has the following ETF profile. ...See Detailed ETF Profile Dividend History List of ETFs holding Stock	Members Only! Login / Register to view or

7.	First Trust Active Factor Mid Cap ETF (AFMC)	AFMC is an actively managed portfolio of factor-focused US midcap companies seeking capital appreciation. ...Detailed Profile Dividend Frequency: Dividend History Category: Small Cap Blend Equities	$22.21	0.14%	0.65%	207 Full List
8.	First Trust Active Factor Small Cap ETF (AFSM)	AFSM is an actively managed portfolio of US small-cap companies that exhibit exposure to one or more investing factors. ...Detailed Profile Dividend Frequency: Dividend History Category: Small Cap Blend Equities	$22.56	-0.22%	0.75%	236 Full List
9.	ETF No Underlying Index ZVZZT Corp Ltd. (ZVZZT)	The ETF No Underlying Index belonging to the Equity category, Multi-Cap sub-sector and trading in the US market has the following ETF profile. ...See Detailed ETF Profile Dividend History List of ETFs holding Stock	Members Only! Login / Register to view or

10.	QRAFT AI-Enhanced US Large Cap Momentum ETF (AMOM)	AMOM is an actively-managed portfolio of U.S. Large Cap equities chosen with the aid of artificial intelligence. ...Detailed Profile Dividend Frequency: Annually Dividend History Category: Large Cap Growth Equities	$27.09	2.93%	0.75%	51 Full List
11.	InfraCap MLP ETF (AMZA)	The InfraCap MLP ETF is a complex, actively managed fund that invests in midstream MLPs that collect, process, store, or transport energy products. Structured as a C-corporation, the ETF pays taxes at the fund level. ...Detailed Profile Dividend Frequency: Monthly Dividend History Category: MLPs	$30.3	-4.17%	1.93%	44 Full List
12.	ETF No Underlying Index ZVZZT Corp Ltd. (ZVZZT)	The ETF No Underlying Index belonging to the Bonds category, Investment Grade Corporate sub-sector and trading in the US market has the following ETF profile. ...See Detailed ETF Profile Dividend History List of ETFs holding Stock	Members Only! Login / Register to view or

13.	ARK Fintech Innovation ETF (ARKF)	The ARK Fintech Innovation ETF is an actively managed fund of stocks related to financial technology innovation. ...Detailed Profile Dividend Frequency: Annually Dividend History Category: Large Cap Growth Equities	$18.13	27.05%	0.75%	37 Full List
14.	ARK Genomic Revolution Multi-Sector ETF (ARKG)	The ARK Genomic Revolution Multi-Sector ETF is an actively managed fund that targets companies involved in the genomics industry. ...Detailed Profile Dividend Frequency: Annually Dividend History Category: Health & Biotech Equities	$28.09	-0.5%	0.75%	37 Full List
15.	ETF No Underlying Index ZVZZT Corp Ltd. (ZVZZT)	The ETF No Underlying Index belonging to the Equity category, Multi-Cap sub-sector and trading in the US market has the following ETF profile. ...See Detailed ETF Profile Dividend History List of ETFs holding Stock	Members Only! Login / Register to view or

*Holdings data may be obsolete and of old date

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All No Underlying Index ETFs

USA ETF Screener:

These funds employ a diversified set of strategies to allocate capital to the various assets.
For instance, there are ETFs that are event-driven and invest in stocks of companies which are expected to undergo certain 'events', like a stock split or a rights issue, which usually leads to a significant move in stock prices. There are the No Underlying Index ETFs which may select stocks based on the qualifying parameters of momentum trading strategies, or look for arbitrage opportunities.
In a nutshell, if you are looking for an actively managed ETF that is not bound by the performance of any particular benchmark index, then a big variety of exchange traded funds are available to invest your money. One should keep any eye on the expense ratio of such No Underlying Index ETFs as they may be significantly higher than the passively-managed index-based ETFs, and should understand the inherent risks that may come attached to such investments.