Key stats
About Cambria Tail Risk ETF
Expense ratio
0.59%
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Inception date
Apr 6, 2017
TAIL holds a portfolio of primarily cash and US government bonds, but the primary strategy of the fund involves investing one percent of its holdings every month in out-of-the-money put options on the S&P 500 Index. The strategy involves buying more puts when volatility is low and fewer puts when volatility is high. The main purpose behind holding these options is hedging a portfolio against significant negative movement in the value of US equities, commonly referred to as tail risk. Cambria intends to target options that are 0 to 30% out of the money. Buying puts further out of the money reduces the price tag of this hedge, but also lessens the amount of downside protection provided.
Classification
Returns
| 1 month | 3 months | Year to date | 1 year | 3 years | 5 years | |
|---|---|---|---|---|---|---|
| Price performance | — | — | — | — | — | — |
| NAV total return | — | — | — | — | — | — |
What's in the fund
Exposure type
Government
Bonds, Cash & Other100.00%
Government91.45%
Rights & Warrants5.04%
Cash2.56%
Mutual fund0.94%
Top 10 holdings
Dividends
Dividend payout history