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Rating:A CT Quant Shop Starts With an ETF Triple Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, August 30, 2022

A CT Quant Shop Starts With an ETF Triple

Reported by Neil Anderson, Managing Editor

A Constitution State startup's team is entering the ETF business with a trio of new actively managed funds focused on using options-based strategies to offer monthly income generation and tax efficiency.

Garrett Keith Paolella
NEOS Investments LLC
Co-Founder, Managing Partner
Today, Garrett Paolella, co-founder and managing partner of NEOS Investments [profile], unveils the launch of the Westport, Connecticut-based firm's first three ETFs: the NEOS Enhanced Income Aggregator Bond ETF (BNDI on the NYSE Arca, Inc.), the NEOS Enhanced Income Cash Alternative ETF (CSHI on the NYSE Arca), and the NEOS S&P 500 High Income ETF (SPYI on the CBOE BZX Exchange, Inc.). All three funds are series of the SHP ETF Trust, with a traditional ETF structure involving daily disclosure of portfolio holdings. Their inception date is today.

NEOS Investment Management, LLC serves as investment advisor to all three funds. Paolella, Troy Cates (co-founder, managing partner and portfolio manager at NEOS), and Ryan Houlton (managing director, head of trading, and portfolio manager) serve as PMs to all three funds.

SPYI comes with an expense ratio of 68 basis points. CSHI costs 38 bps. And BNDI costs 58 bps (thanks in part to a 3-bps fee waiver promised through March 29, 2024).

"Investors need and deserve an enhanced suite of options-based ETFs to help them build more resilient core equity and income portfolios," Paolella states. "Aiming to solve today's increasingly complex portfolio construction challenges is something my colleagues and I are very excited to be doing with the rollout of these ETFs and we are thrilled to be able to start talking with investors, advisors and institutions about the role our solutions can play in all types of portfolios."

The new funds' other service providers include: BBD, LLP as independent accounting firm; Foreside Fund Services, LLC as distributor; Thompson Hine LLP as legal counsel; U.S. Bancorp Fund Services, LLC as transfer agent; and U.S. Bank, N.A. as custodian. 

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