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Rating:An Empire State Shop Debuts Its Fourth ETF Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, January 4, 2022

An Empire State Shop Debuts Its Fourth ETF

Reported by Neil Anderson, Managing Editor

A fund firm on Long Island is rolling out its fourth ETF.

Jerry Szilagyi
Rational Advisors, Inc.
President, CEO
Yesterday, Jerry Szilagyi, president and CEO of Huntington, New York-based Rational Advisors, Inc. [profile], and David Miller, chief investment officer and senior portfolio manager, unveiled the newest addition to Rational's Strategy Shares ETF family: the Strategy Shares Nasdaq 5HANDL Index ETF (FIVR on the Nasdaq). The fund launched on December 28, 2021.

Miller and portfolio manager Charles Ashley serve as the PMs of FIVR. The new fund is designed to tracked the Nasdaq 5HANDL Index, provided by Bryant Avenue Ventures LLC, and that index is built out of two portfolios of ETFs (a kind of core and explore approach). The fund's expense ratio is 88 basis points (including a 2bps fee waiver that Rational has committed to through August 31, 2023).

The plan is for FIVR to make monthly distributions targeting an annual payout of about five percent of its assets. It is the second Strategy Shares "target distribution" ETF. (The other targets an annual payout of seven percent of its assets.)

"A five percent target distribution rate aligns with what many financial advisors are now suggesting for retired clients looking to live off their respective portfolios," Szilagyi states, describing the new fund as "a powerful new tool for investors seeking target distributions."

Other service providers to FIVR include: Citi Fund Services Ohio, Inc. as financial administrator, fund accountant, and transfer agent; Citibank, N.A. as custodian; Cohen and Company, Ltd. as independent accounting firm; Foreside Fund Services, LLC as distributor; Nasdaq, Inc. as index calculator; and Stradley Ronon Stevens and Young, LLP as counsel. 

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