FAIL

Fund Description
The Cambria Global Tail Risk ETF seeks to mitigate significant downside market risk. The Fund intends to invest in a portfolio of out of the money put options purchased on broad ex-U.S. stock markets. FAIL s strategy offers the potential advantage of buying more puts when volatility is low and fewer puts when volatility is high. While a portion of the fund s assets will be invested in the basket of long put option premiums, the majority of fund assets will be invested in intermediate term US Treasuries and TIPS, as well as short and intermediate term ex-U.S. sovereign bonds. As the fund is designed to be a hedge against market declines and rising volatility, Cambria expects the fund to produce negative returns in most years with rising markets or declining volatility.
Fund Profile
Fund Name Cambria Global Tail Risk ETF
Fund Exchange Ticker FAIL
Fund Sponsor Cambria Funds
Fund ISIN US1320618051
Net Expense Ratio 0.69 %
Fund Inception Date 23 February 2016
Fund Legal Structure ETF (Open end fund)
Exchange BATS
Listing Country Code US
Fund Investment Objective
ETF Type Specific Multi-Asset / Other
Asset Class Target Date / Multi-Asset
Index Linked Active
Index Name Not Applicable
Index Provider Not Applicable
Currency Hedged No
Inverse / Leveraged Not Applicable
Developed / Emerging Funds Combining Developed & Emerging Exposure
Key Statistics
Return As of Date 24 September 2021
Asset Under Management 6.88 Million (USD)
1 Month Total Return -1.64 %
Year To Date Return -9.50 %
1 Year Total Return
3 Year Annualized Total Return
NAV 22.93
Share Outstanding 300,000
Top 10 Holdings (24 September 2021)
Constituent Name Constituent Ticker Constituent Type Weighting
ISHARES TIPS BOND ETF TIP ETF 0.2230000000
ISHARES 7-10 YEAR TREASURY B IEF ETF 0.2217000000
VANGUARD TOTAL INTL BOND ETF BNDX ETF 0.1359000000
VANECK JPM EM LOCAL CURR BND EMLC ETF 0.1317000000
Turkey Government Bond 8.50 09/14/2022 BOND 0.0701000000
Cash Equivalent CASH 0.0611000000
Colombian TES 7.00 05/04/2022 BOND 0.0319000000
Colombian TES 7.50 08/26/2026 BOND 0.0318000000
MSCI Emerging Markets Index-MXEF US 03/18/22 P1250 OPTN 0.0256000000
MSCI EAFE Index-MXEA US 06/17/22 P2200 OPTN 0.0178000000