Odds & Ends: Alpha Architect Debuts Tail Risk ETF

Odds & Ends: Alpha Architect Debuts Tail Risk ETF

Plus, more closures are on the horizon.

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Reviewed by: Heather Bell
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Edited by: Heather Bell

The week saw launches from major players in the ETF space such as Vanguard and Goldman Sachs, but there were also more closure announcements. 

Alpha Architect rolled out the actively managed Alpha Architect Tail Risk ETF (CAOS) on Monday. The fund is subadvised by Arin Risk Advisors, which will use long and short put and call options on companies in a large cap index to achieve capital appreciation and current income. Its strategy is designed to provide exposure to the associated index while also limiting risk and generating cash flow, according to its prospectus. 

CAOS comes with an expense ratio of 0.63% and lists on Cboe Global Markets. It is already set to undergo a 1-for-8 reverse split as of March 23.  

And on Tuesday, Alger rolled out its third fund. The Alger Weatherbie Enduring Growth ETF (AWEG), a nontransparent actively managed ETF subadvised by Weatherbie Capital that targets midcap growth companies with strong ESG qualities.  

The fund’s managers will use fundamental analysis to select a portfolio of 30 or fewer companies that exhibit innovation and growth potential, the prospectus says. AWEG has an expense ratio of 0.65% and lists on the NYSE Arca.  

Closures 

Another ETF is set to close. The Generation Z ETF (ZGEN), which launched in December 2021 but never gathered significant assets, will cease to accept creation orders after the market close on March 17 and liquidate on or around March 24. The actively managed fund has focused on companies that are used by the Generation Z cohort.  

Other Changes 

There were also some changes to existing ETFs during the week. On Monday, the iPath Series B S&P 500 VIX Short Term Futures ETN (VXX) underwent a 1-for-4 reverse split, and on Tuesday, the Mohr Sector Navigator ETF (ENAV)changed its name to the Mohr Sector Nav ETF. 

There were a significant number of expense ratio changes recorded during the week that, among other ETFs, affected 40 funds offered by Direxion and 18 by Global X.

As of Feb. 28, the following funds adjusted their expense ratios: 

As of March 1, the following funds adjusted their expense ratios: 

Contact Heather Bell at [email protected] 

Heather Bell is a former managing editor of etf.com. She has also held editorial positions at Dow Jones Indexes and Lehman Brothers. Bell is a graduate of Dartmouth college and resides in the Denver area with her two dogs.