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Monday, February 6, 2023

Schuringa Debuts Two Funds

Reported by Neil Anderson, Managing Editor

A Gotham startup's team has tripled their ETF lineup with a pair of index fund launches.

Last week, Darren Schuringa, CEO and founder of ASYMmetric ETFs, LLC [profile], unveiled the launch of the ASYMmetric Smart Alpha S&P 500 ETF (ZSPY on the NYSE) and the ASYMmetric Smart Income ETF (MORE). The two funds' inception date was February 1, and they are series of the ASYMmetric ETFs Trust.

New York City-based ASYMmetric ETFs serves as advisor to the two new funds, while sibling ASYMmetric Investment Solutions, LLC (a subsidiary of ASYMmetric Holdings, Inc.) serves as index provider. Toroso Investments, LLC serves as the funds' subadvisor, and Toroso portfolio managers Qiao Dunn and Charles Ragauss serve as the funds' PM team.

ZSPY tracks the ASYMmetric Smart Alpha 500 Index. The vision is to provide twice the S&P 500's risk without extra risk, by using leverage in bull markets and hedging in bear markets. It comes with an expense ratio of 95 basis points, and as of yesterday it had about $745,000 in AUM.

MORE tracks the ASYMmetric Smart Income Index. The vision is to boost income while lowering risk, through high income equities in bull markets and Treasuries or cash in bear markets. It comes with an expense ratio of 75 bps, and as of yesterday it had about $743,000 in AUM.

"Current market volatility is making investors seasick," Schuringa states. "Smoothing out returns and minimizing risk is good for everyone; investors are able to sleep better at night and advisors will have happier clients and less volatile fees."

The new funds' other service providers include: ACA Group for compliance services; Cohen & Company, Ltd. as independent accounting firm; Foreside Fund Services, LLC as distributor; K&L Gates LLP as counsel; U.S. Bancorp Fund Services, LLC (dba U.S. Bank Global Fund Services) as administrator, fund accountant, and transfer agent; and U.S. Bank National Association as custodian. 

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