Newfound and Tidal Team For a 3rd ETF
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Tuesday, December 5, 2023

Newfound and Tidal Team For a 3rd ETF

A Boston-area quant shop's team is partnering with a familiar ally to launch a third ETF powered by "return stacking," which they define as "layering one investment return on top of another, achieving more than $1.00 of exposure for each $1.00 invested."

Corey Michael Hoffstein
Newfound Research LLC
Chief Investment Officer, Chief Technology Officer, Co-Founder
Today, the folks at Newfound Research, LLC unveiled the launch of the Return Stacked Global Stocks & Bonds ETF (RSSB on the Cboe BZX Exchange, Inc.). The new, actively managed ETF is a series of Tidal Trust II (fka Tidal ETF Trust II).

RSSB's inception date was yesterday. The new fund comes with an expense ratio of 41 basis points, including a 15bps fee waiver promised through May 30, 2024.

Like with the first two "return stacked" ETFs (which launched back in September and February), Newfound will serve as subadvisor and sponsor for RSSB, and Tidal Investments, LLC (fka Toroso Investments) will serve as investment advisor. The new ETF's PM team includes: Steven Braun, senior quantitative analyst and chief derivatives risk officer at Newfound; Qiao Duan, PM at Tidal; Corey Hoffstein, chief investment officer at Newfound; and Charles Ragauss, portfolio manager at Tidal.

RSSB's other service providers include: BBD, LLP as independent accounting firm; ACA's Foreside Fund Services as distributor; Sullivan & Worcester LLP as counsel; Tidal ETF Services (a Tidal Investments 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.

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