Global Stocks & Bonds
Why Invest In RSSB ETF?
For every $1 invested, RSSB is designed to provide $1 of global equity exposure and $1 of exposure to U.S. Treasuries.
Capital Efficiency and Diversification. Replacing core stock and bond exposure with RSSB frees up capital to invest in diversifying asset classes and strategies.
Reduce Cash Drag. Utilize the embedded capital efficiency in RSSB to hold cash without necessarily losing core stock and bond exposure.
Avoiding 100% Equities for Growth Clients. Reduce equity concentration for growth clients by introducing a second, potentially diversifying source of returns.
Diversification does not assure a profit.
The Fund seeks long-term capital appreciation by investing in two complementary investment strategies: a Global Equity strategy and a U.S. Treasury Futures strategy. For every $1 invested, the Fund attempts to provide $1 of exposure to its Global Equity strategy and $1 of exposure to its U.S. Treasury Futures strategy.
The Global Equity strategy seeks to capture the total return of global equities on a market capitalization-weighted basis, investing in global equities, global equity ETFs, regional equity ETFs, or equity index futures.
The U.S. Treasury Futures strategy seeks to provide exposure to the U.S. Treasury bond market by investing in U.S. Treasury futures contracts with maturities ranging from 2 to 30 years.
RSSB employs 5% drift thresholds to trigger portfolio rebalances. Thresholds are evaluated daily.
The Global Equity strategy within RSSB can hold individual global equities, global equity ETFs, and regional equity ETFs, and equity index futures, or any combination thereof.
For example, RSSB may hold 50% in a large-cap U.S. equity ETF, 40% in an international-ex U.S. equity ETF, and gain the remaining 10% equity exposure through U.S. equity index futures.
- 50% Vanguard Total Stock Market Index Fund ETF (“VTI”)
- 40% Vanguard Total International Stock ETF (“VXUS”)
- 10% S&P 500 E-Mini Futures Contract
Since their joint inception on 1/31/1994 through 10/31/2023, the FTSE All World Index (“FTAW01”) and the Bloomberg U.S. Aggregate Bond Index (“LBUSTRUU”) have exhibited realized annualized volatility levels of 15.49% and 3.99% respectively. An equal-weight portfolio of these two indices, levered up 200% (and financed at the Bloomberg Short-Term Treasury Total Return Index (“LD12TRUUU”), exhibited a realized annualized volatility of 16.54% over the same period.
There are tax considerations to be aware of when implementing RSSB into portfolios. For example, daily gains and losses in futures contracts may need to be calculated as realized for tax purposes, which may affect capital gains depending upon the contract. You should consult your tax advisor before investing.
Distributions, if any, are expected to be made annually at the end of each calendar year.
Fund Details
| Name | Value |
|---|---|
| Fund Inception | 12/4/2023 |
| Ticker | RSSB |
| Primary Exchange | CBOE |
| CUSIP | 88636J204 |
| Gross Expense Ratio | 0.51% |
| Less Fee Waiver* | -0.15% |
| Net Expense Ratio | 0.36% |
| 30 Day SEC Yield** As of 10/31/2024 | 1.75% |
*The Fund’s investment advisor has agreed to a 0.15% fee waiver effective through at least May 30, 2025.
**The 30-Day Yield represents net investment income earned by the Fund over the 30-Day period ended on the date indicated by the Yield, expressed as an annual percentage rate based on the Fund’s share price at the end of the 30-Day period. The 30-Day unsubsidized SEC Yield does not reflect any fee waivers/reimbursements/limits in effect.
Fund Data & Pricing
| Name |
|---|
| 11/20/2024 |
**30 Day Median Spread is a calculation of Fund’s median bid-ask spread, expressed as a percentage rounded to the nearest hundredth, computed by: identifying the Fund’s national best bid and national best offer as of the end of each 10 second interval during each trading day of the last 30 calendar days; dividing the difference between each such bid and offer by the midpoint of the national best bid and national best offer; and identifying the median of those values.
Performance
| Name |
|---|
| 10/31/2024 |
| Name |
|---|
| 09/30/2024 |
The performance data quoted above represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted above.
Short term performance, in particular, is not a good indication of the fund’s future performance, and an investment should not be made based solely on historical returns. Returns beyond 1 year are annualized.
A fund’s NAV is the sum of all its assets less any liabilities, divided by the number of shares outstanding. The market price is the most recent price at which the fund was traded.
Distribution Details
Top 10 Holdings
| Date | Account | StockTicker | SecurityName | CUSIP | Shares | Price | MarketValue | Weightings | NetAssets | SharesOutstanding | CreationUnits | MoneyMarketFlag |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 11/21/2024 | RSSB | ESZ4 Index | S&P500 EMINI FUT Dec24 | ESZ4 INDEX | 75.00 | 5,937.75 | 22,266,562.50 | 10.15% | 219,308,115.00 | 9,150,000 | 366 | |
| 11/21/2024 | RSSB | FGXXX | First American Government Obligations Fund 12/01/2031 | 31846V336 | 8,669,618.00 | 100.00 | 8,669,618.00 | 3.95% | 219,308,115.00 | 9,150,000 | 366 | Y |
| 11/21/2024 | RSSB | FVZ4 Comdty | US 5YR NOTE (CBT) Dec24 | FVZ4 COMDTY | 499.00 | 106.67 | 53,229,265.63 | 24.27% | 219,308,115.00 | 9,150,000 | 366 | |
| 11/21/2024 | RSSB | TUZ4 Comdty | US 2YR NOTE (CBT) Dec24 | TUZ4 COMDTY | 260.00 | 102.63 | 53,365,000.00 | 24.33% | 219,308,115.00 | 9,150,000 | 366 | |
| 11/21/2024 | RSSB | TYZ4 Comdty | US 10YR NOTE (CBT)Dec24 | TYZ4 COMDTY | 481.00 | 109.69 | 52,759,687.50 | 24.06% | 219,308,115.00 | 9,150,000 | 366 | |
| 11/21/2024 | RSSB | USZ4 Comdty | US LONG BOND(CBT) Dec24 | USZ4 COMDTY | 440.00 | 116.56 | 51,287,500.00 | 23.39% | 219,308,115.00 | 9,150,000 | 366 | |
| 11/21/2024 | RSSB | VTI | Vanguard Total Stock Market ETF | 922908769 | 439,023.00 | 293.00 | 128,633,739.00 | 58.65% | 219,308,115.00 | 9,150,000 | 366 | |
| 11/21/2024 | RSSB | VXUS | Vanguard Total International Stock ETF | 921909768 | 1,262,235.00 | 60.67 | 76,579,797.45 | 34.92% | 219,308,115.00 | 9,150,000 | 366 | |
| 11/21/2024 | RSSB | Cash&Other | Cash & Other | Cash&Other | 5,423,949.54 | 1.00 | 5,423,949.54 | 2.47% | 219,308,115.00 | 9,150,000 | 366 | Y |
Holdings are subject to change without notice.
The Fund is available through various channels including via phone (310) 498-7655, broker-dealers, investment advisers, and other financial services firms, including:
The Fund, the Investment Adviser, Sub-Adviser, and Distributor are not affiliated with these financial service firms. Their listing should not be viewed as a recommendation or endorsement.
Important Disclosures
Investors should consider the investment objectives, risks, charges, and expenses carefully before investing. For a prospectus or summary prospectus with this and other information about the Fund, please click here. Read the prospectus or summary prospectus carefully before investing.
Investments involve risk. Principal loss is possible. Unlike mutual funds, ETFs may trade at a premium or discount to their net asset value. Brokerage commissions may apply and would reduce returns.
Derivatives Risk. Derivatives are instruments, such as futures contracts, whose value is derived from that of other assets, rates, or indices. The use of derivatives for non-hedging purposes may be considered to carry more risk than other types of investments. Bond Risks. The Fund will be subject to bond and fixed income risks through its investments in U.S. Treasury securities, broad-based bond ETFs, and investments in U.S. Treasury and fixed income futures contracts. Changes in interest rates generally will cause the value of fixed-income and bond instruments held by Fund (or underlying ETFs) to vary inversely to such changes. Credit Risk: Credit risk refers to the possibility that the issuer of a security will not be able to make principal and interest payments when due. Changes in an issuer’s credit rating or the market’s perception of an issuer’s creditworthiness may also affect the value of the Fund’s investment in that issuer. Currency Risk: Currency risk is the risk that changes in currency exchange rates will negatively affect securities denominated in, and/or receiving revenues in, foreign currencies. The liquidity and trading value of foreign currencies could be affected by global economic factors, such as inflation, interest rate levels, and trade balances among countries, as well as the actions of sovereign governments and central banks. Foreign and Emerging Markets Risk. Foreign and emerging market investing involves currency, political and economic risk. Leverage Risk: As part of the Fund’s principal investment strategy, the Fund will make investments in futures contracts to gain long and short exposure across four major asset classes (commodities, currencies, fixed income, and equities). These derivative instruments provide the economic effect of financial leverage by creating additional investment exposure to the underlying instrument, as well as the potential for greater loss. Non-Diversification Risk. The Fund is non-diversified, meaning that it is permitted to invest a larger percentage of its assets in fewer issuers than diversified funds. Underlying ETFs Risk. The Fund will incur higher and duplicative expenses because it invests in bond ETFs. The Fund may also suffer losses due to the investment practices of the underlying bond ETFs. New Fund Risk. The Fund is a recently organized with no operating history. As a result, prospective investors do not have a track record or history on which to base their investment decisions.
Tidal Financial Group, LLC (“Tidal”) serves as investment adviser to the Funf.
Newfound Research LLC (“Newfound”) serves as investment sub-adviser to the Fund.
Foreside Fund Services, LLC is the distributor for the Funds. Foreside is not related to Tidal or Newfound.
Tidal, Newfound, and Foreside are not related to RSSB. For more information on RSSB, including relevant risk disclosures and prospectus, please visit LINK ???