Latest news with #VistaSharesAnimalSpiritsDaily2XStrategyETF
Yahoo
6 days ago
- Business
- Yahoo
Ackman, Druckenmiller-Tracking ETFs Are Latest Industry Gambit
(Bloomberg) -- In a crowded ETF market obsessed with attention-grabbing pitches, one idea keeps coming back: Track the trades of star investors and sell them to the masses. NYC Congestion Toll Brings In $216 Million in First Four Months Now With Colorful Blocks, Tirana's Pyramid Represents a Changing Albania The Economic Benefits of Paying Workers to Move Billionaire Steve Cohen Wants NY to Expand Taxpayer-Backed Ferry NY Wins Order Against US Funding Freeze in Congestion Fight The latest entrant comes from VistaShares, which filed this week for a suite of ETFs designed to replicate the holdings of famed money managers like Bill Ackman, Stanley Druckenmiller and Michael Burry. By combing through regulatory disclosures, the firm aims to build funds that echo the moves of these high-profile investors — a fresh spin on the long-running effort to bottle hedge-fund mystique for retail buyers. VistaShares plans to launch funds tracking the portfolios of Ackman's Pershing Square and Burry's Scion Asset Management, among others, by scouring their 13F filings or quarterly reports submitted to the Securities and Exchange Commission. The VistaShares Pershing Square Select ETF, for instance, would be composed of up to 20 stocks reflecting the publicly disclosed holdings of Ackman's firm, either directly or via derivatives including options or swaps, according to the filing. The other funds — seven in total, including two based on Druckenmiller's Duquesne family office and a Berkshire one — would employ similar strategies. But the offering from VistaShares comes with another caveat: 13F filings have an embedded lag as the money managers submit the regulatory paperwork at the end of each quarter, meaning that their strategies had already been implemented, possibly weeks prior to the public being privy to it. And whatever trend or quirk the money managers might have been looking to take advantage of may even have come to pass by that point. 'Hyper-focusing on a few select managers' holdings is interesting, but I have to question the utility of a product when there's an inherent lag to the holdings,' said Todd Sohn, senior ETF analyst at Strategas Securities. 'Managers can change their mind whenever they want, and the ETF would not necessarily reflect real-time decisions.' Still, the strategy fits into a broader push to democratize institutional-style investing in a low-cost wrapper — and standing out in a saturated field. VistaShares already runs the VistaShares Target 15 Berkshire Select Income ETF (ticker OMAH), which targets names owned by Berkshire Hathaway. Its assets have grown to above $200 million, so the issuer may be looking to replicate the success it's seen with that vehicle, said Sohn. It also is looking to soon launch the VistaShares Animal Spirits Daily 2X Strategy ETF under the ticker WILD, which would take the most popular companies — as measured by flows and assets — among amped-up single-stock ETFs and offer double-leveraged exposure on them. VistaShares runs three ETFs altogether, including OMAH, according to its website. Its co-founder, Jon McNeill, previously served as president at Tesla, and also held a stint at Lyft, the website says. The company did not respond to a request for comment. ETFs built around hedge-fund tracking have had mixed success. The Goldman Sachs Hedge Industry VIP ETF (GVIP) is one standout, with its performance handily beating the S&P 500 so far this year and its assets growing to above $325 million. On the other hand, the Intelligent Livermore ETF (LIVR), which uses AI to harness the brainpower of the investment world's most illustrious minds, holds just $17 million after having launched in September. Meanwhile, the Global X Guru Index ETF (GURU) tracks the top equity holdings of certain hedge funds — via a process also based on regulatory submissions — and the fund holds just $47 million, though it's been around since 2012. 'Investors have always been drawn to tracking 13F filings because they offer a rare glimpse into the portfolios of top fund managers,' said Bloomberg Intelligence's Athanasios Psarofagis. 'Traditionally, this hedge-fund category has been tough to crack in the ETF wrapper. ETFs in the past have tried this and it showed that investors were more interested in what these managers were doing than they are in buying the ETFs.' --With assistance from Isabelle Lee. YouTube Is Swallowing TV Whole, and It's Coming for the Sitcom Mark Zuckerberg Loves MAGA Now. Will MAGA Ever Love Him Back? Millions of Americans Are Obsessed With This Japanese Barbecue Sauce How Coach Handbags Became a Gen Z Status Symbol Will Small Business Owners Knock Down Trump's Mighty Tariffs? ©2025 Bloomberg L.P.
Yahoo
21-03-2025
- Business
- Yahoo
Tidal Trust Files With SEC for 2 New ‘Animal Spirits' ETFs
In a Tuesday filing to the Securities and Exchange Commission, Tidal Trust requested to list the VistaShares Animal Spirits Strategy ETF (ANIM), an actively managed ETF seeking capital appreciation by investing in companies that are the primary focus of the largest and fastest-growing single-stock leveraged ETFs. The firm also requested to list the VistaShares Animal Spirits Daily 2X Strategy ETF (WILD), which seeks daily investment results that correspond to two times the daily performance of an actively managed group of 'animal spirits' securities. The securities in both funds will be selected by sub-adviser VistaShares Advisors and based on the BITA VistaShares Animal Spirits Index. Tidal and VistaShares were not able to comment directly on the filing due to regulatory restrictions. But Gavin Filmore, chief revenue officer at Tidal Financial Group, told that there is massive opportunity in and around the leveraged ETF space right now and that the firm is seeing a rapid rate of innovation from its partners and the broader market. The more than 280 leveraged ETFs in the U.S. market have garnered $105.5 billion total assets under management. 'Managing these products is complex,' Filmore said. 'Issuers need to ensure they have the right specialized and experienced partners in place.' Leveraged synthetic exchange-traded funds can amplify returns, but not without risk. Investors should not treat leveraged synthetic ETFs as passive long-term holdings, as they might with traditional ETFs, Rob Kane, director of alternative investments on the Investment Management and Research team at Commonwealth Financial Network, told 'A common misconception is that these ETFs simply double or triple the performance over an investor's holding period,' Kane said, speaking of these types of ETFs in general and not a specific fund. In reality, he added, they are designed to replicate a leveraged daily return before fees and expenses of a specified security or index. 'Since performance is only guaranteed on a daily basis, the effect of compounding can introduce significant performance dispersion relative to the underlying reference asset over time,' Kane added. 'Such dispersion and potential performance decay can be exacerbated in volatile markets with frequent price fluctuations.'Permalink | © Copyright 2025 All rights reserved
