MutualFundWire.com: Targeting Income, an Ohio RIA Rolls Into the ETF Space

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Monday, June 10, 2024

Targeting Income, an Ohio RIA Rolls Into the ETF Space

A Midwestern RIA is teaming up to launch his first ETF.

Erik Oliver Thompson
Peerless Wealth LLC
President, Principal Owner

Last month, the Peerless Option Income Wheel ETF (WEEL on the NYSE Arca, Inc.) debuted. The new, actively managed, non-diversified fund is a series of Tidal Trust II.

WEEL appears to be the first ETF from Columbus, Ohio-based Peerless Wealth LLC, which serves as sponsor and subadvisor. Tidal Financial Group's Tidal Investments LLC serves as investment advisor to the new ETF. The fund's PM team includes: Qiao Duan, portfolio manager at Tidal; Christoper Mullen, PM at Tidal; Rob Pascarella, PM at Peerless; and Erik Thompson, president and principal owner of Peerless.

The inception date date of WEEL was May 16, and it comes with an expense ratio of 107 basis points (which bakes in a 10bps fee waiver promised through July 29, 2025). As of Friday (June 7), the fund had $3 million in AUM.

WEEL's other service providers include: Cohen & Company, Ltd. as independent accounting firm; ACA's Foreside Fund Services, LLC as distributor; Sullivan & Worcester LLP as counsel; Tidal ETF Services LLC 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=67525

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