President Trump's social media company has officially entered the exchange-traded fund side of the mutual fund business ... or at least lent its name to a company doing so. And watch for more new ETFs to arrive this year.

On Tuesday (December 30), Devin Nunes, chairman and CEO of Trump Media & Technology Group Corp. (TMTG), and Troy Rillo, CEO of Yorkville America Equities, revealed the launch of the first five Truth Social ETFs. (Truth Social is TMTG's social media platform.) Those new ETFs are:

the Truth Social American Energy Security ETF (TSES on the NYSE Arca);

the Truth Social American Icons ETF (TSIC);

the Truth Social American Next Frontiers ETF (TSNF);

the Truth Social American Red State REITs ETF (TSRS); and

the Truth Social American Security & Defense ETF (TSSD).

Mountainside, New Jersey-based Yorkville America Equities, LLC serves as the new ETFs' investment advisor, as expected. Riverside, Connecticut-based Tuttle Capital Management, LLC serves as subadvisor. TMTG does not appear to have a formal provider role serving the new ETFs.

TSSD, TSRS, TSNF, TSIC, and TSES' inception date was Tuesday, and they each come with an expense ratio of 65 basis points. As of Wednesday (December 31), TSRS had about $250,000 in AUM, TSES had about $249,000, TSIC had about $248,000, and TSNF and TSSD had about $246,000 each.

TSES is designed to track the Truth Social - Yorkville American Energy Security Index. TSIC is designed to track the Truth Social - Yorkville American Icons Index. TSNF is designed to track the Truth Social - Yorkville American Next Frontiers Index. TSRS is designed to track the MarketVector - iREIT Red State REITs Index. And TSSD is designed to track the Truth Social - Yorkville American Security & Defense Index. Matthew Tuttle, CEO of his eponymous firm, serves as portfolio manager to the ETFs.

Yorkville America Equities is owned by Mark Angelo, president and partner at Yorkville Advisors, a 24-year-old firm that (according to its website) "specializes in flexible debt and equity financing solutions for public and private companies worldwide." According to Yorkville America Equities' most recent form ADV, the RIA has no AUM of its own and operates as a solicitor that refers clients to unaffiliated RIAs.

Nunes describes the new Truth Social funds as "a slate of ETFs for patriotic investors who want to invest in American ingenuity."

"These unique funds provide an excellent way for Americans to express their optimism about the strength, resiliency, and immense future prospects of the American economy," Nunes states.

"In an era where investors increasingly seek alignment between their values and their portfolios, the launch of these Truth Social ETFs represents a transformative global opportunity to channel capital toward American strength, innovation, and self-reliance — empowering patriotic investors worldwide to participate in the resurgence of the U.S. economy and its leadership on the world stage," Rillo states.

Steve Neamtz, president of Yorkville America Equities, mnotes that MarketVector Indexes is the administrator of the ETFs' indexes.

"Having rules and criteria based indices provides investors with the transparency to build portfolios that align with both their goals and philosophy," Neamtz states.

TSSD, TSRS, TSNF, TSIC, and TSES are each non-diversified, passively managed series of Truth Social Funds. The new ETFs' other service providers include:

Commonwealth Fund Services, Inc. as co-administrator;

KPMG LLP as independent accounting firm;

PINE Distributors, LLC as distributor and principal underwriter;

Practus, LLP as counsel;

U.S. Bancorp Fund Services, LLC as co-administrator, dividend disbursing agent, fund accountant, and transfer agent; and

U.S. Bank N.A. as custodian.

 

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