Academy Veteran Bond ETF (VETZ) Receives a 5-Star Morningstar Rating™

NEW YORK--(BUSINESS WIRE)--Sep 10, 2026--

Academy Asset Management, the nation’s first post 9/11 veteran-owned institutional asset manager, is pleased to announce that the Academy Veteran Bond ETF (NYSE Arca: VETZ) has received a five star (★★★★★) 3 – Year Morningstar Rating TM, in the US Government Mortgage Backed Bond category, placing it in the top 10% of 123 funds based on risk adjusted returns.

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Academy Asset Management launched the Academy Veteran Bond ETF in 2023 as the first publicly traded ETF to primarily invest in loans to U.S. service members, military veterans, their survivors, and veteran-owned businesses.

Investing in these loans helps facilitate the flow of capital to veterans, resulting in lower borrowing costs for them and their families. Since its launch, VETZ has delivered competitive risk-adjusted returns while advancing a differentiated investment mission: by providing a dedicated investor base for these securities, VETZ supports continued liquidity in markets that finance veteran homeownership and small business activity, while seeking to deliver current income to investors.

Learn more about VETZ - The Academy Veteran Bond ETF: https://academyetfs.com/

"A five star Morningstar Rating TM is meaningful validation of the strategy we built VETZ around. It confirms that delivering capital to service members, veterans, their families and veteran-owned businesses does not require a performance concession." — Chance Mims, Chairman & CEO

"This rating reflects the discipline behind how we construct and manage the portfolio day to day, the underwriting standards, the diversification approach, and the consistency of execution across market cycles. Our ranking in the top decile of our peer group over three years demonstrates that the fund’s mission and execution are aligned. The rating reflects the entire team’s discipline in portfolio construction and the consistency of our investment process." — Seth Rosenthal, CIO

About Academy Asset Management (AAM):

Academy Asset Management is the nation's first post-9/11 veteran-owned and operated institutional asset manager, specializing in fixed-income funds and separately managed accounts. Our leadership and team members bring rigorous military training combined with deep expertise in global capital markets. Mission-driven and guided by a strong ethical foundation, we operate with a high degree of accountability and a relentless focus on our clients' success. Academy Asset Management is an SEC registered investment adviser, certified Disabled Veteran Business Enterprise (DVBE), and Service-Disabled Veteran Owned Business (SDVOB) and has offices in New York, Chicago, and San Diego. To learn more, visit www.academyassetmanagement.com.

Investors should consider the investment objectives, risks, charges and expenses carefully before investing. For a prospectus or summary prospectus with this and other information about the Fund, please call (866) 631-0504 or visit our website atwww.academyassetmanagement.com. Read the prospectus or summary prospectus carefully before investing.

Investing involves risk. Principal loss is possible.

Agency Small Business Loan & MBS Risk. There is uncertainty as to the current status of many obligations of Fannie Mae or Freddie Mac and other agencies that are placed under conservatorship of the U.S. Government.

Fixed income Securities Risk. Typically, the value of fixed income securities changes inversely with prevailing interest rates.

Non-Agency MBS Risk. Non-agency MBS are subject to heightened risks as compared to agency MBS, including that non-agency MBS are not subject to the same underwriting requirements for the underlying mortgages that are applicable to those MBS that have a government or government-sponsored entity guarantee.

Prepayment Risk and Extension Risk. Many issuers have a right to prepay their fixed income securities.

Repurchase Agreement Risk. Repurchase agreements may be viewed as loans made by the Fund that are collateralized by the securities subject to repurchase.

TBA Transactions Risk. The Fund may enter into TBA transactions for MBS.

Investment grade is a rating of fixed-income bonds, bills, and notes by credit rating agencies like Standard and Poor's (S&P), Fitch, and Moody's, which signifies a low risk of default. The rating determines the creditworthiness of companies based on their financial strengths and structure, past data, and growth potential. Companies with good levels of debt, debt repayment, good earning potential, and growth will have good credit ratings.

Mortgage-backed securities (MBS) are investment products similar to bonds. Each MBS consists of a bundle of home loans and other real estate debt bought from the banks that issued them. Investors in mortgage-backed securities receive periodic payments similar to bond coupon payments.

VETZ is distributed by Foreside Fund Services, LLC. Foreside is not related to Academy.

The Morningstar Rating TM for funds, or “star rating”, is calculated for separate accounts with at least a three-year history. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating TM for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating TM metrics.

© 2026 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

Academy Asset Management

Iranian-backed Houthi rebels have entered Yemen's strategic Red Sea port city of Mokha, according to two residents, a move that could bring the rebels closer to targeting shipping through a critical waterway to the Red Sea.

Separately, an Israeli strike killed at least four people in northern Gaza, including two children. And a media outlet controlled by the Houthis claims that Saudi-backed forces have launched airstrikes on several areas across Yemen.

Here’s a look at the latest news in the Middle East. Full coverage can be found here.

The Iranian-backed Houthi rebels have entered Yemen's strategic Red Sea port city of Mokha, two local residents told The Associated Press on Thursday.

If confirmed, the development is significant because taking the city would put the Houthis closer to their goal of targeting shipping through the Bab el-Mandeb, a crucial waterway linking the Red Sea to the Gulf of Aden and the Indian Ocean.

Mokha was long held by forces aligned with Yemen’s internationally recognized government. A takeover of the port by the Houthis would be a major blow to the government forces.

A resident of the port city, Amin al-Mohammdi, said the Houthis have entered Mokha and fanned out across various street intersections. All roads from the west coast leading to Mokha have been closed, and shops were shut in the city, he said. Another resident of the city, Mohamed Salem, reported seeing vehicles belonging to Houthi forces in the streets.

The AP couldn’t independently verify that claim, but the Houthis have been trying to close in on Mokha amid the ongoing escalation with the government forces.

— By Ahmed Haj in Aden, Yemen

Yemen's Houthi rebels have fought a civil war with the country's internationally recognized government that started in 2014.

The Houthis have recently made advances in the western province of Taiz, where Mokha is located, according to Ahmed al-Mawazi, a trooper with the Yemeni armed forces, and Abdel Kader al-Sharabi, a member of the Saudi-backed forces supporting the Yemeni government.

Both said the rebels had seized control of the al-Shaqira area, an important supply route connecting the city of Taiz, the provincial capital, and other inland areas to Yemen’s western coast.

Meanwhile, Yemeni government forces launched airstrikes targeting Houthi reinforcements west of Taiz, they added.

Clashes also continued along Yemen’s western coast, particularly in the direction of the southern part of the key port city of Hodeida, where the Houthis launched drones in the Hais district, located in the southern part of the province, al-Mawazi and al-Sharabi said. The fighting has taken place near crucial supply routes.

Two children were among the dead after Israel carried out a new strike in the northern Gaza community of Beit Lahiya, according to Shifa hospital, where the bodies were taken.

The strike killed a husband and wife, alongside their two daughters, aged 8 and 12.

“There is nothing that can justify Israel attacking this home,” said Zuheir al-Heisami, a neighbor of the family, at the hospital. He said the strike happened at around 2 a.m. “These were two children and their parents that were killed while they were asleep.”

There was no immediate comment from the Israeli military on the strike early Thursday, but a new statement said its forces on Wednesday struck Hamas weapons storage facilities in three areas across Gaza.

Israel's military in the past has said it carries out strikes in response to threats against its forces under the fragile ceasefire that has been in place since October.

Al-Masirah TV, controlled by Iran-backed Houthi rebels in Yemen, claimed that Saudi-backed forces launched 40 airstrikes in recent hours in Taiz, Jawf, Hodeida and Marib provinces.

The AP couldn’t independently verify the Houthis' claim as fighting with the Saudi-backed Yemeni government forces has heightened this week. There was no immediate comment from the government forces.

Warnings have been growing about a major escalation as the Houthis clash with Yemeni government forces while also attacking oil facilities and utilities in neighboring Saudi Arabia.

The fighting puts further pressure on global oil shipments. The Houthis have been targeting shipping and infrastructure that help keep oil flowing through the Red Sea, while the U.S.-Iran war has limited shipments through the Strait of Hormuz on the opposite side of the Arabian Peninsula.

This story will be updated throughout the day as new developments emerge.

A Yemen's Houthi rebel chews Qat as he marches during a mobilization campaign in Sanaa, Yemen, Thursday, Sept. 10, 2026. (AP Photo)

Yemen's Houthi rebels gather during a mobilization campaign in Sanaa, Yemen, Thursday, Sept. 10, 2026. (AP Photo)

Yemen's Houthi rebels march during a mobilization campaign in Sanaa, Yemen, Thursday, Sept. 10, 2026. (AP Photo)

Yemen's Houthi rebels walk carrying weapons during a mobilization campaign in Sanaa, Yemen, Thursday, Sept. 10, 2026.(AP Photo)

A fighter with Yemen’s Houthi rebels carries a rocket-propelled grenade launcher as they march during a mobilization campaign in Sanaa, Yemen, Thursday, Sept. 10, 2026. (AP Photo)

A worker prepares gas cylinders for refilling at a gas station in Mahra, Yemen, Wednesday, Sept. 9, 2026. (AP Photo/Abdulnasser Alseddik)