Despite the limited trading it still has a lofty 1.34% expense ratio.

Turnover: 120% (Marketwatch) or 89% (the fund)
That doesn't sound like "limited trading".

If they really only trade once a year, you could easily ride on their coattails and buy a 1/30'th weight of each stock in their holdings.
Save the 1.34% expense ratio.

Or, heck, run your own screen:
"30 domestic, common stocks with the highest one-year price appreciation that also meet the following criteria:
Market capitalization between $1 and $10 billion
Price-to-sales ratio below 1.5
Annual earnings higher than the previous year
Positive stock price appreciation over the past three- and six-month periods"

The Russell index shows 360 stocks in that market cap range, so easily doable.

----------------

Or maybe don't bother.
Portfolio Visualizer says, for the last 10 years:
VTI 11.7% CAGR
HFMDX 11.5% CAGR
SPY 12.3% CAGR

Since Jan 2023, 23.22%, 33.73%, 24.33%. So yes, beating the market year to date.

portfoliovisualizer.com - Backtest portfolio

testfol.io goes back further, to inception 9/22/2003
VTI 10.4% CAGR
HFMDX 12.1% CAGR
SPY 10.3% CAGR

testfol.io: Portfolio Backtester for ETFs and Asset Allocation