CHICAGO and MILWAUKEE and NEW YORK, June 08, 2022 (GLOBE NEWSWIRE) -- Tidal ETF Services, a leading provider of ETF structuring, launch, and growth services, in partnership with Constrained Capital LLC (“Constrained Capital”), today announced the launch of the Constrained Capital ESG Orphans ETF (ticker: ORFN), listed NYSE.
Constrained Capital is an ETF sponsor specializing in opportunistic investments that it believes to have high-expected return securities for better risk-adjusted returns. ORFN is an index fund, and the first of its kind to invest exclusively in the exclusions of Environmental, Social, and Governance ("ESG") (i.e., "the Orphans").
ORFN seeks to track the performance of the Constrained Capital ESG Orphans Index (“the Index”), before fees and expenses, while providing an alternative to traditional equity investments, in this case those specifically designed to capture of the excluded and orphaned sector of the ESG investment process. ORFN will invest all, or substantially all, of its assets in the components securities that make up the Index. The Index is comprised of US equity securities of publicly traded mid- and large-cap US-listed companies that are ESG Orphans (exclusions) defined by the Index.
“The explosion in the ESG investing movement over the past decade has yielded what I believe to be a generational opportunity in a contrarian, reversion theme, for opportunistically inclined, critical thinking investors,” said Mark Neuman, CFA, and creator of the Index. “The strategy is designed for all types of investors looking for a timely and alternative portfolio allocation.” For more information, visit esgorphans.com.
“We’re honored to work with a best-in-class partner like Constrained Capital, who saw a unique opportunity to bring to market a product which is contrarian in nature,” said Gavin Filmore, Head of Product at Tidal. “As a platform for innovative ETFs, we pride ourselves in partnering with issuers and index providers who view markets from a unique vantage point, Constrained Capital is a great example of just that.”
ABOUT TIDAL ETF SERVICES
Formed by ETF industry pioneers and thought leaders, Tidal ETF Services LLC sets out to revolutionize the way ETFs have historically been developed, launched, marketed, and sold. With a focus on growing AUM, Tidal offers a comprehensive suite of services, proprietary tools, and methodologies designed to bring lasting ideas to market. Tidal is an advocate for ETF innovation. The firm is on a mission to provide issuers with the intelligence and tools needed to efficiently and to effectively launch ETFs and to optimize growth potential in a highly competitive space. For more information, visit tidaletfservices.com.
IMPORTANT INFORMATION
Before investing you should carefully consider the Fund’s investment objectives, risks, charges and expenses. This and other information is in the prospectus. A prospectus may be obtained by calling (800) 794-1485 or visiting www.constrainedcapitaletfs.com. Please read the prospectus carefully before you invest.
Fund Risks: An investment in the Fund is subject to risk including the possible loss of principal. The Fund is new with a limited operating history to evaluate.
ETF shares may be bought and sold in the secondary market at market prices. The market price normally should approximate the Fund’s net asset value per share (NAV), but the market price sometimes may be higher or lower than the NAV.
The Fund is non-diversified and may be concentrated in certain industries or sectors to the extent the Index is concentrated. In adverse events, the value of fund shares may rise and fall more than if invested in a broader range of industries. The Fund and the Index may differ from each other (known as tracking error) due to fund operating expenses and portfolio transaction costs not incurred by the Index. In addition, the Fund may not be fully invested in the securities of the Index at all times or may hold securities not included in the Index.
The Index is comprised of stocks whose primary business is in a sector or sub-sector (each, an “Orphaned Sector”) that is commonly “orphaned”, discarded, or excluded by Environmental, Social, and Governance (“ESG”) criteria. Companies in these sectors such as, Alcohol, Tobacco, Fossil Fuel, Weapons, Nuclear Energy and Gambling are particularly vulnerable to potential obsolescence due to technological advances and global competition. A company’s profitability may also be affected by pricing pressure, government regulation, environmental factors and unpredictable changes in consumer demand.
The fund is distributed by Foreside Fund Services.
Contact:
Gavin Filmore
gfilmore@torosoinv.com
