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 18 January 2019
Asset Under Management 31.30 Million (USD)
1 Month Total Return -6.21 %
Year To Date Return -8.09 %
1 Year Total Return -2.53 %
3 Year Annualized Total Return
NAV 20.87
Share Outstanding 1,500,000
Top 10 Holdings (18 January 2019)
Constituent Name Constituent Ticker Constituent Type Weighting
T 2 3/8 02/15/27 BILL 0.8590187282
CASH CASH 0.0584496859
SPX US 12/20/19 P2550 OPTN 0.0118907852
SPX US 12/20/19 P2500 OPTN 0.0105541857
SPX US 12/20/19 P2650 OPTN 0.0102079793
SPX US 12/20/19 P2400 FUTR 0.0077337532
SPX US 06/21/19 P2525 OPTN 0.0074734596
SPX US 06/21/19 P2500 OPTN 0.0072272187
SPX US 06/21/19 P2550 OPTN 0.0070245729
SPX US 12/20/19 P2625 OPTN 0.0059621600