MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
|
|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Thursday, September 14, 2023 For an Options-Powered Fund, Defiance Teams Up The folks at a thematic fund firm in Florida are teaming up with a pair of asset managers to launch an active ETF. According to the sponsoring team, the new fund is the first ETF to ever use daily options ("zero days to expiration," aka 0DTE) to boost income generation), paid monthly.
QQQY's inception date is today. The new, actively managed fund comes with an expense ratio of 99 basis points. Toroso Investments, LLC [profile] will serve as QQQY's investment advisor, while Defiance (which normally advises its own ETFs) is the sponsor. ZEGA Financial, LLC is the new ETF's subadvisor. The new fund's PM team includes two ZEGA portfolio managers (Mick Brokaw and Jay Pestrichelli) and two Toroso PMs (Qiao Duan and Charles Ragauss). Jablonski puts the launch of QQQY in the context of the rise of 0DTE options trading, noting that the daily notional trading value "has skyrocketed to about $1 trillion." "QQQY exemplifies our commitment to innovation and to meeting the evolving needs of investors," Jablonski states. "With daily options at the core of these products, we're seeking to unlock a new dimension of income generation within the ETF space." The new fund's other service providers include: Cohen & Company, Ltd. as independent accounting firm; Foreside Fund Services, LLC as distributor; Sullivan & Worcester LLP as counsel; Tidal ETF Services LLC, a Toroso affiliate, as administrator; U.S. Bancorp Fund Services, LLC (dba U.S. Bank Global Fund Services as fund accountant, sub-administrator, and transfer agent; and U.S. Bank National Association as custodian. Printed from: MFWire.com/story.asp?s=66435 Copyright 2023, InvestmentWires, Inc. All Rights Reserved |
