Veteran Impact ETF (NYSE: VETZ)

Veteran Impact Challenge Coin

Challenge coins are an integral part of military tradition and culture. These small tokens of appreciation have become symbols of pride and service, serving as constant reminders of the sacrifices made by military members. Academy Asset Management has deep military roots as an authentic, service-disabled veteran-owned asset manager founded by two Navy Officers who were roommates aboard the USS John Paul Jones at the beginning of the post 9/11 conflict in the Middle East. Academy is committed to providing opportunities for veterans by pairing them with Wall Street veterans for mentorship.

As a homework assignment from a client, Academy was challenged to build a fixed-income strategy that aligns with who we are, and the Veteran Impact Strategy was born. Initially designed for SMA clients, it has now expanded through the Veteran Impact ETF (VETZ). The VETZ challenge coin was minted to celebrate the Academy Veteran Impact ETF, the first publicly traded ETF primarily investing in loans to U.S. service members, military veterans, their survivors, and veteran-owned businesses. The ETF offers market-based returns, government-backed underlying assets, and measurable impact on active-duty service members and veterans. To learn more about the Academy Veteran Impact ETF please visit the website or refer to the fact sheet below.

VETZ Website

VETZ Fact Sheet

For more information, please reach out to us below:


Phone: 773-365-1401

Origin of the Challenge Coin

The origin of the challenge coin can be traced back to World War I, involving an American pilot in a newly formed volunteer flying squadron in France. As a gesture of camaraderie and unity, the wealthy squadron leader commissioned the creation of bronze medallions, each bearing the squadron’s emblem, which he presented to his fellow pilots as a memento of their service together.

One young pilot, who wore the medallion in a small leather pouch around his neck, was later shot down over enemy territory and captured by German forces. The Germans confiscated all his identifiable belongings, leaving him with only his medallion. During an air raid, the pilot managed to escape captivity and, dressed in civilian clothing, made his way to the front lines in the hopes of reuniting with his squadron.

As he approached the Allied lines, the young pilot was apprehended by French soldiers who, unable to verify his identity, suspected him of being a German saboteur. Facing execution, he remembered the coin in the leather pouch. He showed the coin to his would-be executioners. His French captors recognized the squadron symbol on the coin and delayed long enough to confirm his identity, whereupon they shared a bottle of wine with him. Back at his squadron, and after hearing his story, it became a tradition to ensure that all members always carried their coin.


Challenge Coin Rules

1. The challenge is initiated by drawing your coin, holding it in the air by whatever means possible and state, shout or otherwise verbally acknowledge that you are initiating a coin check. You may also place it or strike it on a hard surface such as a table. If you accidentally drop your coin and it makes an audible sound it is still considered a challenge.

2. If there is a challenge and a person is unable to respond, then the individual(s) without their coin are required to buy a meal and or beverage of choice for the individual who issued the challenge.

3. If everyone being challenged responds with their coin, then the person who challenged is required to buy a meal for all those he/she challenged.

4. Failure to buy a meal and or beverage is considered despicable and a failure of unit trust. Some units require that you return your coin should you do so.

5. Coin checks are allowed anytime, anywhere and anyplace.

6. You are responsible for your coin. No one can borrow your coin and force a challenge.

7. There are no exceptions to the rule.



Seth D. Rosenthal, CFA
Chief Investment Officer
Years of Experience: 25 | (773) 796-5495

Seth was previously the Bank Chief Investment Officer at Northern Trust. In his 16-year career at Northern, he oversaw $100 billion in global fixed income and money market assets across a range of duration and credit mandates. Prior to Northern Trust, Seth spent 10 years at the Bank of Montreal-Harris, holding various roles in Treasury and Credit Analytics.  He holds the CFA charter and BBA from the University of Iowa.

John Gilmore
Portfolio Manager
Years of experience: 6 | (773) 828-6565

John previously worked for the Vanguard Group in the enterprise data science team. He oversaw work across asset classes, and on model portfolios. John was a former Army Officer, having served in the 1st Cavalry, 82nd Airborne and Corps of Engineers with deployments to Iraq and twice to Afghanistan. He holds a BS from the United States Military Academy West Point, an MS from the Massachusetts Institute of Technology, and an MBA from the Wharton School of the University of Pennsylvania.


For more information, please contact:

Email:           Phone: 773-365-1401