The Meet Kevin Pricing Power ETF (PP)

The Meet Kevin Pricing Power ETF was an actively managed exchange traded fund that traded on NYSE Arca under the ticker PP. It was linked to Kevin Paffrath, a real estate agent and investor who built a large online following through his Meet Kevin video channel. The fund was offered on the Tidal ETF platform, which provides legal, operational and distribution services to smaller fund sponsors, and Paffrath's firm Plato's Philosophy LLC was involved in its management and marketing.

The fund launched on November 28, 2022, during a period of high inflation, and its theme reflected that environment. It aimed to hold a concentrated portfolio of about 25 to 60 U.S. companies that the managers believed had stronger pricing power than their competitors, meaning the ability to raise prices without losing customers. Holdings leaned toward large technology and growth companies. The managers could also use other ETFs as hedges when they expected broad market weakness.

The fund charged an expense ratio of 0.76 percent, well above the cost of most broad index funds. It attracted interest from Paffrath's audience but never grew into a large product by ETF industry standards. Small actively managed funds often struggle to cover their operating costs, and sponsors regularly close those that fail to gather enough assets within a few years. Its returns were also shaped by the managers' discretionary hedging decisions.

On February 11, 2025, Tidal Financial Group and Plato's Philosophy announced that the fund would close after what they described as a thorough review. The last day of regular trading on NYSE Arca was February 25, 2025, after which the shares were delisted. In the days before the liquidation, the portfolio was moved into cash, so it no longer followed its stated objective. The fund was liquidated on or about February 28, 2025.

Shareholders who still held shares on the liquidation date received a cash distribution equal to their share of the fund's net asset value. Those who sold before the last trading day received the market price instead. The PP ticker is no longer in use on NYSE Arca. Investors interested in a similar approach now look at other quality or moat-focused funds, such as the VanEck Morningstar Wide Moat ETF or iShares MSCI USA Quality Factor ETF.