Cambria Global Tail Risk ETF
The Cambria Global Tail Risk ETF seeks to mitigate significant downside market risk. The Fund intends to invest in a portfolio of out of the money put options purchased on broad ex-U.S. stock markets. FAILs strategy offers the potential advantage of buying more puts when volatility is low and fewer puts when volatility is high. While a portion of the funds assets will be invested in the basket of long put option premiums, the majority of fund assets will be invested in intermediate term US Treasuries and TIPS, as well as short and intermediate term ex-U.S. sovereign bonds. As the fund is designed to be a hedge against market declines and rising volatility, Cambria expects the fund to produce negative returns in most years with rising markets or declining volatility.
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About Cambria Investment Management
Cambria Investment Management, LP, based in Los Angeles, California, is a SEC registered investment management firm employing a disciplined multi-asset, global quantitative research process. Cambria provides investment management services through a number of portfolio strategies to high net worth individuals and institutions through exchange traded funds, separately managed accounts and private funds. Cambria is also the investment manager of the Cambria Emerging Shareholder Yield ETF (BATS: EYLD), the Cambria Global Value ETF (NYSE: GVAL), the Cambria Foreign Shareholder Yield ETF (NYSE: FYLD), the Cambria Global Momentum ETF (NYSE: GMOM), the Cambria Global Asset Allocation ETF (GAA), the Cambria Value and Momentum ETF (NYSE: VAMO), and the Cambria Sovereign High Yield Bond ETF (SOVB). Cambria believes that any single style or approach that relies on subjective methods can be inconsistent over time, may bias the investment process, and potentially hinder performance. Global diversification through asset allocation, coupled with prudent risk management, is the foundation of Cambria's investment philosophy.