FAIL

Cambria Global Tail Risk ETF
*Unless otherwise stated, data provided by FactSet.

FAIL Fund Description

FAIL aims to provide a defensive approach to global ex-US equities by actively managing put options with similar exposure and managing the collateral of the fund consisting mostly of cash and government bonds.

FAIL Factset Analytics Insight

FAIL is a global version of ETF: TAIL from the same issuer. The fund holds a portfolio of primarily cash and government bonds from both developed and emerging markets, but the primary strategy of the fund involves investing one percent of its holdings every month in at-the-money or out-of-the-money put options on stock indices or US-listed ETFs in the global ex-US space. The main purpose behind holding these options is hedging a portfolio against significant negative movement in the value of global ex-US equities, commonly referred to as global tail risk. Cambria intends to target options that are 0 to 30% out of the money. FAIL is an actively-managed fund that seeks to provide income and capital appreciation. Prior to March 15, 2021, FAIL was a fixed-income ETF under ticker: SOVB and traded as Cambria Sovereign Bond ETF.

PERFORMANCE [as of 08/03/22] 1 MONTH 3 MONTHS YTD 1 YEAR 3 YEARS 5 YEARS 10 YEARS
FAIL -3.36% -1.06% 2.45% -6.30% -4.48% -3.02% --
FAIL (NAV) -2.19% 1.72% 2.48% -5.94% -4.11% -2.27% --
No Underlying Index -- -- -- -- -- -- --
N/A -- -- -- -- -- -- --
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

FAIL Summary Data

Cambria
02/23/16
Open-Ended Fund
0.63%
$5.47M
1.63%

FAIL Portfolio Data

0.29%
N/A

FAIL Index Data

No Underlying Index
Proprietary
Proprietary
N/A

FAIL Fund Structure

No
No
-- / --
N/A
N/A
High
N/A
N/A

FAIL Tax Exposures

20.00% / 39.60%
--
No

FAIL Factset Analytics Block Liquidity

As of 08/04/22
5
4
3
2
1

This measurement shows how easy it is to trade a $1 million USD block of FAIL. FAIL is rated a N/A out of 5.

FAIL Tradability

7,986
$175.34K
1,820
$40.65K
1.63%
$0.36
0.21%
6.55% / -3.99%
None
45.68%
50,000
0.04
0.05%
--
0
$21.87
N/A