At the core of ACSI Funds investment thesis is the intuitive idea that companies whose customers are satisfied will outperform their peers over the long term. In an age of increasing sophistication and data availability, it is easy to become distracted from what matters most when evaluating stocks – that behind every stock is a tangible product or service.

Financial statements can provide detail into how the company has operated in the recent past. Stock performance can tell us about the past trading patterns and recent direction of the company stock. Analysts can use all publicly available information to formulate their opinions about the prospects of a company. But the customers themselves – those who spend their own money and are most familiar with the good and services they are receiving – provide direct insight into the value of those goods and services which are at the core of any stock.

The idea that customer satisfaction is a driver of stock prices is substantiated through decades of academic studies and economic research.

The American Customer Satisfaction Index (ACSI) was established in 1994 by researchers at University of Michigan’s Ross School of Business as a national indicator of the quality of economic output, as measured by US household consumption experience. Today, the ACSI tracks trends in customer satisfaction and provides benchmarking insights for companies, industry trade associations and government agencies. ACSI’s data utilizes the groundbreaking proprietary econometric models developed by Dr. Claes Fornell, the world’s leading authority on customer satisfaction, its measurement and analysis.The American Customer Satisfaction ETF (Ticker: ACSI) provides large cap US equity exposure to investors with individual companies weighted within each sector by their ACSI customer satisfaction scores. By tracking the American Customer Satisfaction Investable Index, the ETF can provide ACSI Funds thesis as a core holding for US stock market investors,

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