Tuttle Cptl Dl 2X Invrs Rgnl Banks ETF retains its Morningstar Medalist Rating of Bronze. The strategy charges fees in line with its similarly distributed peers, priced within the middle quintile.  

 The strategy's sensible investment philosophy earns it an Above Average Process Pillar rating. The team managing this passive strategy earns a Below Average People Pillar rating. The strategy's parent organization is industry standard, albeit with some strong attributes like high portfolio manager retention, but is held back by relatively short-tenured portfolio managers. This earns the firm an Average Parent Pillar rating.

Analyst Rating

Morningstar's evaluation of this security's process aims to determine the likelihood that it will outperform its Morningstar Category benchmark on a risk-adjusted basis over the long term. Tuttle Cptl Dl 2X Invrs Rgnl Banks ETF earns an Above Average Process Pillar rating. The leading factor in the rating is that this fund tracks an index. Historical data, such as Morningstar's Active/Passive Barometer, finds that passively managed funds have generally outperformed their active counterparts, especially over longer time horizons. This fund's fee, which ranks in the category's second most expensive quintile, also strengthens the process. Although that could still be improved, it is better than some of the funds in this category. 

The investment strategy as stated in the fund's prospectus is:  The investment seeks daily investment results, before fees and expenses, of 200% of the inverse (or opposite) of the daily performance of the KRE ETF.  The fund, under normal circumstances, and invests in swap agreements that provide 200% inverse (opposite) daily exposure to TSLA equal to at least 80% of the fund’s net assets (plus any borrowings for investment purposes ). The fund advisor seeks daily leveraged inverse investment results and the fund is very different from most other exchange-traded funds and presents different and greater risks. The fund is non-diversified.

Above Average

Process

Tuttle’s team earns a Below Average People Pillar rating. The team is strengthened by the firm's five-year retention rate of 100%. However, the rating is limited by the number of months that the management team has been running this vehicle together. Since this is a newly incepted product, more time is needed to monitor the team's capability at executing the strategy. A high expense ratio, with fees ranking in its category's second most expensive fifth, also holds the rating back. A higher expense ratio reduces net returns and decreases the team's odds of success.

Below Average

People

Tuttle's track record as a steward is mixed, leading to an Average Parent Pillar rating. Morningstar generates quantitatively driven content for managed investments covered by the Morningstar Quantitative Rating, collectively called MQR Analysis. This strategy's Parent Pillar MQR Analysis content was not generated because of insufficient data. To generate individualized content, MQR Analysis requires sufficient data to generate its framework of “mental models” designed to mimic content written by analysts. The Quantitative Parent Pillar uses an algorithm designed to predict the Parent Pillar rating analysts would assign the investment product if they covered it.

Average

Parent

Tuttle Capital Daily 2X Inverse Regional Banks ETF

SKRE is an actively managed fund-of-funds aiming to achieve 2x the return, for a single day, of the SPDR S&P Regional Banking ETF (KRE) through swap agreements with major global financial institutions.

GREENWICH, Conn., Jan. 04, 2024 (GLOBE NEWSWIRE) -- via IBN -- The 2x Inverse Regional Bank ETF, (NASDAQ: SKRE), will start trading today at the Nasdaq Exchange.

News for Tuttle Capital Daily 2X Inverse Regional Banks ETF ETF (SKRE)