Cambria Partners with ETF Architect to Launch Innovative Tax-Aware ETF
Cambria Investment Management has partnered with ETF Architect to launch the Cambria Tax Aware ETF (TAX), an innovative solution for tax-efficient investing. TAX allows individual investors to seed the ETF with their separate account investments, exchanging existing holdings for the new ETF. This approach aims to address challenges associated with traditional tax-loss harvesting strategies.
The ETF will focus on U.S. stocks with value and quality characteristics and low or no dividend yields, aiming to generate capital appreciation without distributing high dividend income or taxable gains. TAX is expected to launch on NASDAQ in December, joining Cambria's ETF lineup, which currently manages over $2.7 billion in assets. Cambria plans to follow TAX with a series of ETFs open to all investors and seeded with individual separate account contributions.
Cambria Investment Management ha collaborato con ETF Architect per lanciare il Cambria Tax Aware ETF (TAX), una soluzione innovativa per investimenti fiscalmente efficienti. TAX consente agli investitori individuali di finanziare l'ETF con i loro investimenti in conti separati, scambiando le partecipazioni esistenti per il nuovo ETF. Questo approccio mira a risolvere le sfide associate alle strategie tradizionali di raccolta delle perdite fiscali.
L'ETF si concentrerà su azioni statunitensi con caratteristiche di valore e qualità e su dividendi bassi o assenti, mirando a generare apprezzamento del capitale senza distribuire alti redditi da dividendo o guadagni imponibili. Si prevede che TAX sarà lanciato su NASDAQ a dicembre, unendosi alla gamma di ETF di Cambria, che attualmente gestisce oltre 2,7 miliardi di dollari in asset. Cambria prevede di seguire TAX con una serie di ETF aperti a tutti gli investitori, finanziati da contributi individuali in conti separati.
Cambria Investment Management se ha asociado con ETF Architect para lanzar el Cambria Tax Aware ETF (TAX), una solución innovadora para inversiones eficientes en impuestos. TAX permite a los inversionistas individuales aportar al ETF con sus inversiones en cuentas separadas, intercambiando activos existentes por el nuevo ETF. Este enfoque busca abordar los desafíos asociados con las estrategias tradicionales de recolección de pérdidas fiscales.
El ETF se centrará en acciones estadounidenses con características de valor y calidad y con bajos o nulos rendimientos de dividendos, con el objetivo de generar apreciación del capital sin distribuir altos ingresos por dividendos o ganancias imponibles. Se espera que TAX se lance en NASDAQ en diciembre, uniéndose a la lista de ETF de Cambria, que actualmente gestiona más de 2.7 mil millones de dólares en activos. Cambria planea seguir a TAX con una serie de ETF abiertos a todos los inversores y financiados con contribuciones individuales de cuentas separadas.
캄브리아 투자 관리(Cambria Investment Management)는 ETF 아키텍트(ETF Architect)와 협력하여 캄브리아 세금 고려 ETF(Cambria Tax Aware ETF, TAX)를 출시했습니다. 이는 세금 효율적인 투자를 위한 혁신적인 솔루션입니다. TAX는 개인 투자자가 별도의 계좌 투자로 ETF에 자금을 조달할 수 있도록 하며, 기존 보유 자산을 새로운 ETF로 교환합니다. 이러한 접근 방식은 전통적인 세금 손실 수확 전략과 관련된 문제를 해결하는 것을 목표로 하고 있습니다.
이 ETF는 가치와 품질 특성을 가진 미국 주식과 낮거나 없는 배당 수익률에 중점을 두어, 높은 배당 소득이나 과세 이익을 분배하지 않고 자본 증대를 목표로 하고 있습니다. TAX는 12월 NASDAQ에서 출시될 예정이며, 현재 27억 달러 이상의 자산을 관리하고 있는 캄브리아의 ETF 라인업에 합류할 것입니다. 캄브리아는 TAX에 이어 모든 투자자에게 개방된 개별 계좌 기여로 조달되는 일련의 ETF를 출시할 계획입니다.
Cambria Investment Management s'est associé à ETF Architect pour lancer le Cambria Tax Aware ETF (TAX), une solution innovante pour un investissement fiscalement efficient. TAX permet aux investisseurs particuliers de financer l'ETF avec leurs investissements de comptes séparés, en échangeant des avoirs existants contre le nouvel ETF. Cette approche vise à relever les défis associés aux stratégies traditionnelles de récolte de pertes fiscales.
L'ETF se concentrera sur des actions américaines présentant des caractéristiques de valeur et de qualité et avec des rendements de dividendes faibles ou inexistants, visant à générer une appréciation du capital sans distribuer des revenus de dividendes élevés ou des gains imposables. TAX devrait être lancé sur le NASDAQ en décembre, rejoignant la gamme d'ETF de Cambria, qui gère actuellement plus de 2,7 milliards de dollars d'actifs. Cambria prévoit de suivre TAX avec une série d'ETF ouverts à tous les investisseurs et financés par des contributions individuelles de comptes séparés.
Cambria Investment Management hat sich mit ETF Architect zusammengeschlossen, um das Cambria Tax Aware ETF (TAX) zu starten, eine innovative Lösung für steuerlich effizientes Investieren. TAX ermöglicht es einzelnen Anlegern, das ETF mit ihren separaten Kontoinvestitionen zu bedienen, indem sie bestehende Bestände gegen das neue ETF eintauschen. Dieser Ansatz zielt darauf ab, Herausforderungen zu bewältigen, die mit traditionellen Strategien zur Steuerverluste-Realisierung verbunden sind.
Das ETF wird sich auf US-Aktien mit Wert- und Qualitätsmerkmalen und niedrigen oder gar keinen Dividendenrenditen konzentrieren, mit dem Ziel, Kapitalgewinne zu erzielen, ohne hohe Dividendeneinkünfte oder steuerpflichtige Gewinne auszuschütten. Es wird erwartet, dass TAX im Dezember an der NASDAQ startet und sich der ETF-Palette von Cambria anschließt, die derzeit über 2,7 Milliarden Dollar an verwalteten Vermögenswerten verfügt. Cambria plant, TAX mit einer Reihe von ETFs zu folgen, die für alle Anleger offen sind und mit individuellen Beiträgen aus separaten Konten finanziert werden.
- Launch of innovative Tax Aware ETF (TAX) to enhance tax efficiency for investors
- Partnership with ETF Architect to bring previously exclusive technology to individual investors
- ETF will focus on U.S. stocks with value and quality characteristics
- Cambria's current ETF lineup manages over $2.7 billion in assets under management
- Plans to launch additional ETFs open to all investors
- None.
Insights
The launch of Cambria's Tax Aware ETF (TAX) represents a significant innovation in the ETF space, potentially disrupting traditional tax-loss harvesting strategies. This product addresses a important need for tax-efficient investment vehicles, particularly for high-net-worth individuals with substantial embedded gains in their portfolios.
Key points to consider:
- The ETF's focus on U.S. stocks with value and quality characteristics aligns with current market trends favoring value investing.
- The strategy of targeting low or no dividend yields is designed to minimize taxable distributions, which could be particularly attractive in a high-tax environment.
- Cambria's existing
$2.7 billion in AUM lends credibility to this new offering and suggests potential for rapid asset growth. - The planned series of ETFs following TAX indicates a broader strategy to capture market share in the tax-efficient ETF space.
While innovative, investors should be aware of potential risks, such as the ETF's performance relative to broader market indices and the complexity of its tax-optimization strategy. Overall, this launch could significantly impact the competitive landscape for tax-efficient investment products.
The Cambria Tax Aware ETF (TAX) introduces a novel approach to tax-efficient investing that merits attention. By allowing investors to seed the ETF with existing holdings, it provides a mechanism to potentially defer capital gains taxes while transitioning to a more tax-efficient structure. This could be particularly valuable for investors with highly appreciated assets.
Key tax considerations include:
- The ability to exchange existing investments for ETF shares may trigger a taxable event, but could offer long-term tax benefits.
- The focus on low or no dividend yields aims to minimize ongoing tax liabilities from distributions.
- The ETF structure generally offers superior tax efficiency compared to mutual funds due to in-kind redemptions.
However, investors should be cautious about potential wash sale rule implications and consult with tax professionals to understand the specific impact on their situation. The success of this strategy will depend on the ETF's ability to manage capital gains within the portfolio effectively over time.
TAX allows individual investors to seed the launch of the ETF with their separate account investments and exchange their existing investment holdings for the new, tax-efficient ETF. By leveraging ETF technology, Cambria and ETF Architect have created a streamlined and accessible solution that may address the challenges associated with traditional tax-loss harvesting strategies.
"We are thrilled to partner with ETF Architect to bring this innovative technology to market, as it was previously only accessible to accredited investors," said Meb Faber, co-founder and CIO of Cambria. "We believe TAX offers investors a powerful tool to help optimize tax efficiency, especially for portfolios with significant embedded gains."
TAX will focus on
"ETF Architect is committed to driving innovation in the ETF space," added Wes Gray, majority owner and strategic advisor of ETF Architect. "We are excited to collaborate with Cambria to launch this pioneering product and provide investors with a more efficient and effective way to manage their tax obligations."
TAX is expected to launch on NASDAQ in December and will join Cambria's growing lineup of ETFs, which currently manage over
About Cambria
Cambria Investment Management, LP ("Cambria" or the "Company") is a registered investment advisor that was formed in 2006. Cambria is an independent, privately owned investment advisory firm focused on quantitative asset management and alternative investments. The Company's mission is to preserve and grow capital by producing above-average absolute returns with low correlation to traditional assets and manageable risk. Cambria investment portfolios and ETFs cover equity-focused strategies, global asset allocation, tail risk, hedged equity, and thematic strategies. The firm manages 16 different ETFs and had over
About ETF Architect
ETF Architect is on a mission to lower barriers to entry in the ETF market by delivering an affordable, easy-to-use, and transparent solution. Via their EA Series Trust, the firm partners with fund managers (hedge, mutual, SMA), registered investment advisors (RIAs), and family offices who want to leverage the material tax and operational efficiencies of the ETF structure. The firm currently manages over
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Tyler Bradford
Hewes Communications
Office: 212-207-9454
tyler@hewescomm.com
Source: Cambria Investment Management
FAQ
What is the Cambria Tax Aware ETF (TAX) and when will it launch?
How does the Cambria Tax Aware ETF (TAX) aim to achieve tax efficiency?
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What are Cambria's plans for future ETFs following the launch of TAX?
