The team at a nine-year-old fund firm in Gotham is expanding their single-stock LETF lineup by two.

On Tuesday (October 21), Will Rhind, founder and CEO of GraniteShares [profile], unveiled the launch of the GraniteShares YieldBOOST BABA ETF (BBYY on the Nasdaq) and the GraniteShares YieldBOOST META ETF (FBYY). New York City-based GraniteShares Advisors LLC serves as investment advisor to both new leveraged funds, and the dual launch expands the firm's $604-million-AUM YieldBOOST lineup to 14 ETFs in total.

FBYY and BBYY's inception date was Tuesday. Both ETFs come with expense ratios of 107 basis points. BBYY now has about $736,000 in AUM, while FBYY has about $748,000.

Both new ETFs are designed to offer 200 percent of the daily returns of individual stocks. FBYY tracks Meta Platforms, Inc. (META), while BBYY tracks Alibaba Group Holdings Limited (BABA). The funds share the same PM team:

Benoit Autier, chief operating officer and head of product at GraniteShares;

Ryan Dofflemeyer, portfolio manager; and

Jeff Klearman, PM.

"We are excited to launch the newest additions to our YieldBOOST options income suite," Rhind states. "The GraniteShares YieldBOOST META ETF (FBYY) and YieldBOOST BABA ETF (BBYY) will seek to generate income from selling put options on their respective underlying leveraged ETFs."

BBYY and FBYY are each actively managed, non-diversified series of GraniteShares Funds.. The ETFs' other service providers include:

SS&C's Alps Distributors, Inc. as distributor;

Alps Fund Services, Inc. as administrator;

Brown Brothers Harriman & Co. (BBH) as custodian, dividend disbursing agent, and transfer agent;

Tait Weller & Baker LLP as independent accounting firm; and

Thompson Hine LLP as counsel.

 

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