An Active ETF Startup Celebrates Two Years
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Friday, November 25, 2022

An Active ETF Startup Celebrates Two Years

The team at an active ETF startup is celebrating their funds' cotton anniversary.

Vincent Michael "Vince" Lorusso
Changebridge Capital, LLC
Co-Founder, Portfolio Manager
Earlier this month, Vince Lorusso, co-founder of Changebridge Capital, LLC [profile], highlighted a big milestone for the Boston-based fund firm's $11.36-million-AUM pair of ETFs. November 13 was the second birthday of the Changebridge Capital Sustainable Equity ETF (CBSE on the NYSE Arca, Inc.) and the Changebridge Capital Long/Short Equity ETF (CBLS).

"This is an exciting time for Changebridge, as we operate at the intersection of two evolving trends," Lorusso states. "As active managers, we have the flexibility to navigate uncertainty in the capital markets. Meanwhile, investors increasingly demand the liquidity, transparency, and tax efficiency afforded by ETFs."

Changebridge combines fundamental research and quantitative investing, factoring in an ESG perspective. The firm offers SMAs, in addition to the two ETFs.

As of Wednesday, CBSE had $6.21 million in AUM, while CBLS had $5.15 million. CBLS comes with an expense ratio of 215 basis points, while CBSE's expense ratio is 85 bps. Lorusso PMs both funds, and Changebridge serves as their investment advisor. The funds are series of Listed Funds Trust.

The fund's other service providers include: Cohen & Company, Ltd. as independent accounting firm; Foreside Fund Services, LLC as distributor and principal underwriter; Morgan, Lewis & Bockius LLP as legal counsel; U.S. Bancorp Fund Services, LLC (dba U.S. Bank Global Fund Services) as administrator and transfer agent; and U.S. Bank National Association as custodian.

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