MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Wednesday, November 1, 2023 Teaming Up, Defiance Adds a 3rd Options Income Fund The folks at a Florida thematic fund firm are teaming up with a familiar pair of asset managers to add a third options income fund, expanding the firm's lineup to eight ETFs in total.
IWMY's inception date was Monday, and it comes with an expense ratio of 99 basis points. As of market close yesterday, the new fund had $2.52 million in AUM. The launch of IWMY comes after Defiance's September debut of a pair of other options income ETFs: JEPY and QQQY. Like with those two existing ETFs, Defiance serves as sponsor of IWMY, Toroso Investments, LLC serves as investment advisor, and ZEGA Financial, LLC serves as subadvisor and sponsor. Also like with the prior two ETFs, IWMY's PM team includes two Toroso portfolio managers (Qiao Duan and Charles Ragauss) and two ZEGA PMs (Mick Brokaw and Jay Pestrichelli). "IWMY has the potential to reshape the Russell 2000 options income strategies within the ETF landscape, offering investors a new paradigm for income generation," Jablonski states. The Defiance team lays claim to IWMY being the only ETF that utilizes "daily options on the Russell 2000 for enhanced income." IWMY's other service providers include: Cohen & Company, Ltd. as independent accounting firm; ACA's Foreside Fund Services, LLC 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 fund accountant, subadministrator, and transfer agent; and U.S. Bank National Association as custodian. Printed from: MFWire.com/story.asp?s=66638 Copyright 2023, InvestmentWires, Inc. All Rights Reserved |
