Drawing from quarterly commentary, Rodrigo Gordillo and Corey Hoffstein review the performance and positioning of the Return Stacked® suite of ETFs. They explore the drivers behind their trend following strategies, explaining the whipsaw experienced in certain markets and the strong performance in others like metals and equities. The discussion also provides a detailed case study on the challenges faced by multi-asset carry (futures yield) strategies, the opportunistic nature of their merger arbitrage approach, and the mechanics of the gold and Bitcoin overlay. This episode offers a comprehensive look at how these distinct strategies navigated the recent market environment.

Topics Discussed

1. An overview of the Return Stacked® ETF suite's growth, having surpassed $1 billion in assets
2. The utility of the RSSB global stocks and bonds ETF as a versatile tool for capital efficiency and creating portfolio overlays
3. A detailed breakdown of the trend-following replication strategy, which combines top-down and bottom-up models to track a managed futures index
4. Analysis of the challenging market environment for trend following, marked by policy-driven whipsaws and unexpected economic news
5. An in-depth case study on the multi-asset carry strategy's underperformance, using crude oil to explain the impact of rapid shifts in market expectations
6. Positioning the merger arbitrage strategy (RSBA) as an attractive, uncorrelated alternative to traditional credit investments
7. The dynamic, risk-parity approach to the gold and Bitcoin overlay in the RSSX ETF for hedging against inflation and currency debasement risk
8. Discussion on the nature of diversification, emphasizing that it implies zero correlation, not necessarily negative correlation, between assets

RSSX does not invest directly in Bitcoin or Gold.Exposures to gold and bitcoin will be done via exchange traded funds and futures contracts, hence the fund does not invest directly in bitcoin or any other digital asset, and does not invest directly in gold or gold bullion.

For prospectus and performance and risks visit the fund pages.

1. RSST – https://www.returnstackedetfs.com/rsst-return-stacked-us-stocks-managed-futures/
2. RSBT – https://www.returnstackedetfs.com/rsbt-return-stacked-bonds-managed-futures/
3. RSSY –