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Rating:A 21-Year-Old RIA Enters the ETF Biz Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, December 10, 2021

A 21-Year-Old RIA Enters the ETF Biz

Reported by Neil Anderson, Managing Editor

A 21-year-old, $400-million-AUM RIA and ETF strategist in Texas is teaming up to enter the ETF business.

Yesterday, Bruce Fraser, founder and managing partner of Dallas-based McElhenny Sheffield Capital Management, LLC (MSCM), and JD Gardner, founder and chief investment officer of Fairhope, Alabama-based Aptus Capital Advisors, unveiled the new McElhenny Sheffield Managed Risk ETF (MSMR on the CBOE). MSCM subadvises the new, actively managed fund, while Aptus is its investment advisor.

The new fund, which debuted on November 16, comes with an expense ratio of 99 basis points. Fraser and Grant Morris, operations and portfolio manager at MSCM, PM the fund.

MSMR's other service providers include: Cohen & Company, Ltd. as independent accounting firm; Morgan, Lewis & Bockius LLP as counsel; Quasar Distributors, LLC as distributor; U.S. Bancorp Fund Services, LLC as administrator, fund accountant, and transfer agent; and U.S. Bank National Association as custodian.

MSCM started out as a hedge fund shop in 2000, and since then it has added tactical, ETF-based strategies for both direct investor clients and subadvisory work. MSMR combines two of MSCM's tactical strategies: its Trend Plus strategy (focused on trend following) and its Sector Rotation strategy (focused on momentum). Both strategies can go all the way from 100 percent invested in U.S. equity ETFs to 100 percent defensive (and thus out of equities entirely).

"We are excited to extend our tactical investment strategies to the investing public through a tax-efficient active ETF with the launch of MSMR," Fraser states.

"All investors can benefit by adding a tactical investment allocation to their existing portfolio due to the low correlation of tactical strategies to more traditional asset allocations," Morris states. 

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