TAIL Cambria Tail Risk ETF
What is TAIL?
TAIL is an actively managed fund that holds mostly cash and treasuries while using the strategy of buying put options on the S&P 500 with the purpose of portfolio downside protection.
TAIL Factset Analytics Insight
TAIL holds a portfolio of primarily cash and US government bonds, but the primary strategy of the fund involves investing one percent of its holdings every month in out-of-the-money put options on the S&P 500 Index. The strategy involves buying more puts when volatility is low and fewer puts when volatility is high. The main purpose behind holding these options is hedging a portfolio against significant negative movement in the value of US equities, commonly referred to as tail risk. Cambria intends to target options that are 0 to 30% out of the money. Buying puts further out of the money reduces the price tag of this hedge, but also lessens the amount of downside protection provided.
TAIL Fund Structure
TAIL Tax Exposures
TAIL Portfolio Data
TAIL Index Data
Factset Analytics Block Liquidity
This measurement shows how easy it is to trade a $1 million USD block of TAIL. TAIL is rated a N/A out of 5.