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Cambria Launches New Core Equity ETF

May 25, 2017 2:29 pm
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Cambria Investment Management, the California-based investment management firm and issuer of exchange-traded funds, added to its ETF lineup Wednesday with the debut of the Cambria Core Equity ETF (NYSE:CCOR).

The Cambria Core Equity ETF is the eleventh ETF in the Cambria stable. CCOR “uses proprietary models and analysis of historical portfolio profit and loss information to identify favorable option trading opportunities, including favorable call and put option spreads,” according to Cambria.

CCOR’s Holdings And Allocations

CCOR has 57 holdings and 10 of the 11 S&P 500 sectors are represented in the new ETF. Industrial and technology stocks combine for 34.6 percent of CCOR's weight while consumer staples and healthcare names combine for another 27.6 percent.

“CCOR was developed to be a core holding for all types of investors, as the strategy seeks to combine the long-term compounding benefits of stocks with the goal of improving risk management to minimize portfolio drawdowns,” said David Pursell, CCOR's senior portfolio manager, in a statement issued by Cambria.

Starting Strong

On its first day of trading, CCOR attracted a rapid following as the new ETF added $93 million in new assets. If that number holds true, it would make CCOR one of this year's most successful new ETFs to date and the second-largest ETF launch of the year.

Other well-known Cambria ETFs include the Cambria Global Asset Allocation ETF (BATS: GAA), which gained acclaim as the first ETF to use a blended expense ratio over a traditional annual fee.

The Cambria Global Asset Allocation ETF (BATS: GVAL) can hold attractively valued stocks from Greece, Russia, Ireland, Hungary, Spain, Austria, Brazil, Czech Republic, Israel, Italy and Portugal.

Overall, Cambria has more than $700 million in ETF assets under management.

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