MutualFundWire.com: Tidal Ignites a New ETF Family

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Monday, November 18, 2024

Tidal Ignites a New ETF Family

The folks at an ETF-in-a-box shop are preparing to launch a fund-of-funds fund family, with a new brand.

Michael Jeremy Venuto
Tidal Investments
Co-Founder, CIO, Managing Member, Director

The FIRE ETFs family will launch tomorrow (Tuesday, November 19) with its first pair of funds, per a LinkedIn post today from the FIRE ETFs team. Those initial two FIRE ETFs, per FIRE's November 8 filing with the SEC, will be the FIRE Funds Income Target ETF (FIRI on the NYSE Arca, Inc.) and the FIRE Funds Wealth Builder ETF (FIRS). Milwaukee-based Tidal Investments LLC [profile] will serve as investment advisor to the new fund family.

FIRS will come with an expense ratio of 48 basis points, while FIRI will come with an expense ratio of 70bps. Those fees bake in a 19bps fee waiver promised through February 28, 2026.

FIRI and FIRS will both be actively managed, non-diversified funds-of-funds, mostly investing in other Tidal-powered ETFs. (Yet both FIRE ETFs will be able to invest in unaffiliated ETFs and ETPs, too.) Both new ETFs will be PMed by Michael Venuto, co-founder and chief investment officer of Tidal, and Daniel Weiskopf, portfolio manager.

The FIRE Funds name comes from the FIRE ("financial independence, retire early") movement, which promotes aggressive saving and investment to enable individuals to retire early. FIRS is designed for use in the "wealth accumulation (foundational)" phase, while FIRI is designed for use in the retirement (distribution) phase with the intent of generating 4 percent in annual income.

Both FIRI and FIRS will be series of Tidal Trust III. The planned ETFs' other service providers will include: ACA's Foreside Fund Services, LLC as distributor; Sullivan & Worcester LLP as counsel; Tait, Weller & Baker LLP as independent accounting firm; Tidal ETF Services, LLC as administrator; U.S. Bancorp Fund Services, LLC (dba U.S. Bank Global Fund Services) as fund accountant and transfer agent; and U.S. Bank National Association as custodian.

Printed from: MFWire.com/story.asp?s=68185

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