A five-year-old Chicago firm's team is rolling out a pair of actively managed ETFs designed to hedge against the risk of a stock market decline.

Yesterday, Mike Loukas, CEO of TrueMark Investments [profile], unveiled the launch of the TrueShares Quarterly Bear Hedge ETF (QBER on the Cboe BZX Exchange) and the TrueShares Quarterly Bull Hedge ETF (QBUL). Both new funds are series of Elevation Series Trust.

QBUL and QBER's inception date was last Friday (June 28), and their listing date was yesterday (July 1). Both funds come with an expense ratio of 79 basis points.

TrueMark serves as investment advisor to QBER and QBUL. Jeffrey Feldman, portfolio manager at Truemark and quantiative risk manager at RiverNorth Capital Management. (RiverNorth bought a stake in TrueMark in 2022.)

Both QBER and QBUL are designed to invest mostly in short-term income-generating debt securities, adding on a large cap stock options overlay. QBUL specifically uses call options, while QBER uses put options.

Loukas calls the 2 new funds "versatile portfolio construction solutions for risk averse investors."

"They're a natural expansion of our risk-managed equity product suite that can be used singularly or in tandem to navigate both bull and bear maket conditions with consistency," Loukas states.

QBER and QBUL's other service providers include: Cohen & Company, Ltd. as independent accounting firm; Paralel Distributors LLC as distributor and principal underwriter; Paralel Technologies LLC as administrator and fund accountant; State Street Bank & Trust as custodian and transfer agent; and Thompson Hine LLP as counsel. 

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