2 Active Virtus ETFs Shuttered

August 28, 2017

A pair of active Virtus ETFs managed by and branded under Tuttle Tactical had their last trading day Friday, Aug. 25.

The Tuttle Tactical Management U.S. Core ETF (TUTT), a fund of funds that invested in U.S. stocks as well as fixed income, and the Tuttle Tactical Management Multi-Strategy Income ETF (TUTI), a multi-asset-class strategy designed to generate income, with an accompanying goal of being low volatility, added to a growing list of closures this year.

Both funds were about two years old, having launched in 2015, and both had an expense ratio of just over 1%, or just over $100 per $10,000 invested. Neither found significant following.

TUTT had amassed nearly $24 million in total assets, while TUTI had only about $4.5 million. In the past two years, these ETFs struggled to carve much upside, as the chart below shows (the SPDR S&P 500 ETF Trust (SPY) offers reference to what the broad U.S. stock market did in that period):

 

Chart courtesy of StockCharts.com

 

Virtus has 12 ETFs in the market, with combined assets of about $1 billion. Only four of these funds are branded with Virtus’s name.

Contact Cinthia Murphy at [email protected]

 

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