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Rating:With a New ETF, an MA Shop Stacks Stocks and Futures Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, September 8, 2023

With a New ETF, an MA Shop Stacks Stocks and Futures

Reported by Neil Anderson, Managing Editor

Near Boston, a quant shop's team is powering a new, actively managed ETF that combines investing in large-cap equities with investing in managed futures.

Corey Michael Hoffstein
Newfound Research LLC
Chief Investment Officer, Chief Technology Officer, Co-Founder
On Wednesday, the folks at Newfound Research LLC unveiled the launch of the Return Stacked U.S. Stocks & Managed Futures ETF (RSST on the Cboe BZX Exchange, Inc.). The new fund is a series of Tidal Trust II, and Wednesday was its inception date.

RSST comes with an expense ratio of 104 basis points. As of yesterday, the new fund had $2.99 million in AUM.

Toroso Investments, LLC [profile] serves as RSST's investment advisor, while Newfound serves as subadvisor and ReSolve Asset Management SEZC (Cayman) serves as futures trading advisor. The new ETF's PM team includes: Adam Butler (chief investment officer and portfolio manager), Rodrigo Gordillo (president and PM), and Michael Philbrick (co-founder, CEO, and PM) from ReSolve; Qiao Duan (PM) and Charles Ragauss (PM) from Toroso; and Steven Braun (senior quantitative analyst, chief derivatives risk officer) and Corey Hoffstein (CIO) from Newfound.

The debut of RSST comes seven months after the Newfound, Toroso, and ReSolve folks teamed up on a similar ETF, the Return Stacked Bonds & Managed Futures ETF (RSBT). That fund, whose inception date was February 7, had $23.5 million in AUM as of yesterday.

RSST's other service providers include: Cohen & Company Ltd. as independent accounting firm; Foreside Fund Services as distributor; Sullivan & Worcester LLP as counsel; Tidal ETF Services LLC, a Toroso affiliate, as administrator; U.S. Bancorp Fund Services, LLC (dba U.S. Bank Global Fund Services) as sub-administrator and transfer agent; and U.S. Bank National Association as custodian. 

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