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ETFs

Cambria Tail Risk ETF

TAIL
$--
Today’s Change
-- (--)

Snapshot
*

Inception Date
Apr 06 2017
Expense Ratio
0.59%
Type
US Diversified
Fund Owner
Cambria Funds
Volume (1m avg. daily)
$1,040,217
AUM
$160,269,026
Associated Index
None
Inverse/Leveraged
No
Passive/Active
Active
Fractionable on Composer
Yes
Prospectus
View

Top 10 Holdings

n/a
UNITED STATES TREAS NTS 4.125% 11/15/2032
87.10%
n/a
Cash & Other
6.14%
n/a
CBOE S&P PUT OPT 09/24 4200
2.18%
n/a
CBOE S&P PUT OPT 06/24 3800
1.36%
n/a
CBOE S&P PUT OPT 12/24 4100
1.20%
n/a
CBOE S&P PUT OPT 09/24 4000
1.14%
n/a
CBOE S&P PUT OPT 03/24 3800
0.75%
n/a
CBOE S&P PUT OPT 12/23 3600
0.12%
Invest with TAIL

What is TAIL?

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.

ETFs related toTAIL

ETFs correlated to TAIL include FAZ, TUA, SH

TAIL
Cambria Investment Management LP - Cambria Tail Risk ETF
FAZ
Direxion Shares ETF Trust - Direxion Daily Financial Bear 3x Shares
TUA
Simplify Exchange Traded Funds - Simplify Short Term Treasury Futures Strategy ETF
SH
ProShares Trust - ProShares Short S&P500 -1x Shares
SDS
ProShares Trust - ProShares UltraShort S&P500 -2x Shares
SPXU
ProShares Trust - ProShares UltraPro Short S&P 500
SPDN
Direxion Shares ETF Trust - Direxion Daily S&P 500 Bear 1X Shares
SPXS
Direxion Shares ETF Trust - Direxion Daily S&P 500 Bear -3X Shares
DOG
ProShares Trust - ProShares Short Dow30 -1x Shares
DXD
ProShares Trust - ProShares UltraShort Dow 30-2X Shares
SDOW
ProShares Trust - ProShares UltraPro Short Dow30 -3x Shares

What is ETF correlation?

Correlation is a measure of the strength of the relationship between two ETFs. It quantifies the degree to which prices of the two ETFs typically move together.

Here, correlation is measured over the past year with the Pearson correlation coefficient (Pearon’s r), which ranges from -1 to 1.

Using ETF correlations in portfolio and strategy construction

ETF correlations can help you create investing strategies and portfolios. Use them to:

  • •Build a diversified portfolio from uncorrelated or inversely correlated ETFs with the aim of minimizing portfolio risk.
  • •Compare correlated or related ETFs to find one with a lower expense ratio or higher trading volume.
  • •Create an investing strategy that hedges an ETF with an uncorrelated or inversely correlated ETF.

FAQ

TAIL is a US Diversified ETF. 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.

Yes, TAIL is actively managed. In an actively managed fund, the fund manager makes decisions about how funds are invested. A passively managed fund typically tries to track or follow a market index.

No, TAIL is not passively managed. It is actively managed. A passively managed fund typically tries to track or follow a market index. In an actively managed fund, the fund manager makes decisions about how funds are invested.

The 1-month return on TAIL is -0.0206%. This is the percent change in the value of TAIL over the most recent 1-month period. The 3-month return on TAIL is -0.0553%. This is the percent change in the value of TAIL over the most recent 3-month period.

The standard deviation of TAIL for the past year is 0.1426%. Standard deviation is the typical amount that the daily returns vary from the mean of the returns over the time period, standardized to a period of a year.

ETFs similar to TAIL include PFF, PGF, and PGX.

ETFs correlated to TAIL include FAZ, TUA, and SH.

ETFs that are inversely correlated to TAIL include XLSR, XLF, and FEX.

Disclaimers

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We show information directly obtained from our data provider, Xignite. Data shown here is provided by Xignite, an unaffiliated third party. Composer believes the information shown here is reliable, but has not been verified and there is no guarantee that the information is accurate.

**

We show information based on calculations performed by Composer using data from our provider. Information provided here is based on calculations performed by Composer using data sourced from Xignite, an unaffiliated third party. Composer believes this information is reliable, but has not verified the data and there is no guarantee that the calculations are accurate.