JUNE was originally launched at the end of March, and has gathered a little more than $6 million in assets under management. It rolled out under the exemptive relief of newcomer Elevation ETF Trust and was advised by ALPS. Neither of those names appear on the latest filing.
JUNE is a good fit with Cambria’s lineup of ETFs, which includes three funds that target shareholder yield, investing in companies that return cash to investors through dividend payments and share buybacks. JUNE invests in companies have engaged in share buybacks, are held by hedge funds or have been spun off within the last seven years.
Cambria’s Mebane Faber and Eric Richardson are listed as the fund’s new portfolio managers.
The fund’s expense ratio will remain the same, at 0.75%.
It’s not clear when Cambria will take over the day-to-day management of the fund based on the filing or the circumstances of the transfer. Also, it looks like the fund will continue to carry the Dhandho Funds brand, at least for the time being.