MutualFundWire.com: A New RIA Sails Into the ETF Biz

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Wednesday, March 9, 2022

A New RIA Sails Into the ETF Biz

In the Northeast, a new RIA is entering the ETF business as a subadvisor.

David Auerbach
Armada ETF Advisors, LLC
Managing Director

Last week, Justin Goldberg, CEO of Armada ETF Advisors, LLC, and David Auerbach, managing director, unveiled the new Home Appreciation U.S. REIT ETF (HAUS on the Cboe BZX Exchange, Inc.), a series of the Tidal ETF Trust. According to the team at Shelton, Connecticut-based Armada, the fund is the first active, pure-play U.S. residential real estate ETF.

The freshly launched Armada serves as subadvisor to the new fund, while Toroso Investments, LLC serves as the fund's investment advisor. Armada portfolio manager Alfred Otero, Toroso chief investment officer Michael Venuto, and Toroso portfolio manager Charles Ragauss are the new fund's PMs.

The fund's inception date was February 28, and it had $1.03 million in AUM as of yesterday. Its expense ratio is 60 basis points.

Auerbach and Goldberg put the launch in the context of real estate being something that everyone can relate to.

"While homeownership or the ability to invest in individual properties may be out of reach for many, our goal is to provide access to real estate through the flexible ETF wrapper," Goldberg states.

The new fund's other service providers include: Cohen & Company, Ltd. as independent accounting firm; Foreside Fund Services, LLC as distributor; Godfrey & Kahn, S.C. as counsel; Tidal ETF Services LLC as administrator; U.S. Bancorp Fund Services, LLC (dba U.S. Bank Global Fund Services) as fund accountant, sub-administrator, and transfer agent; and U.S. Bank National Association as custodian.

Printed from: MFWire.com/story.asp?s=64105

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