TAIL

Fund Description
The Cambria 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 the U.S. stock market. TAIL 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 funds 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. As the fund is designed to be a hedge against market declines and rising volatility, Cambria expects the fund to produce negative returns in the most years with rising markets or declining volatility.
Fund Profile
Fund Name Cambria Tail Risk ETF
Fund Exchange Ticker TAIL
Fund Sponsor Cambria Funds
Fund ISIN US1320618622
Net Expense Ratio 0.59 %
Fund Inception Date 6 April 2017
Fund Legal Structure ETF (Open end fund)
Exchange BATS
Listing Country Code US
Fund Investment Objective
ETF Type Specific Multi-Asset / Other
Asset Class Other Asset Types
Index Linked Active
Index Name Not Applicable
Index Provider Not Applicable
Currency Hedged No
Inverse / Leveraged Not Applicable
Developed / Emerging Developed Market Funds
Key Statistics
Return As of Date 14 June 2019
Asset Under Management 56.32 Million (USD)
1 Month Total Return 1.13 %
Year To Date Return -9.97 %
1 Year Total Return -0.22 %
3 Year Annualized Total Return
NAV 20.48
Share Outstanding 2,750,000
Top 10 Holdings (14 June 2019)
Constituent Name Constituent Ticker Constituent Type Weighting
T 2 1/4 02/15/27 BOND 0.9176694095
CASH CASH 0.0353412244
SPX US 06/19/20 P2600 OPTN 0.0131358954
SPX US 09/20/19 P2600 OPTN 0.0098919700
SPX US 03/20/20 P2600 OPTN 0.0055543931
SPX US 03/20/20 P2550 OPTN 0.0043156435
SPX US 03/20/20 P2500 OPTN 0.0034859921
SPX US 12/20/19 P2650 OPTN 0.0030748516
SPX US 12/20/19 P2550 OPTN 0.0026514568
SPX US 12/20/19 P2500 OPTN 0.0020102374