4 min readBy Ron Koren ETF Insider
How does the DALI ETF work?
The DALI ETF is a specialized investment fund that focuses on a specific sector. This exchange-traded fund offers investors exposure to a range of companies in this sector.
Changebridge Capital, LLC is the issuer of the actively managed exchange-traded fund (ETF) known as the Changebridge Capital Long/Short Equity ETF (CBLS). This ETF seeks to achieve its investment objective by purchasing undervalued securities and taking short positions in securities expected to decline in price. The fund maintains a net long exposure ranging from 30% to 70% of net assets, and it primarily focuses on U.S.-listed large-, mid-, or small-capitalization companies. Changebridge Capital employs quantitative screening, fundamental analysis, and an assessment of a company's environmental, social, and governance (ESG) attributes as part of its proprietary QFS Investment Process to construct its portfolio. CBLS aims to deliver attractive returns with lower overall portfolio volatility compared to the broader market, making it an intriguing choice for investors seeking an active long/short equity strategy.
The Changebridge Capital Long/Short Equity ETF (CBLS) employs an active management strategy to seek opportunities in both undervalued long positions and short positions in declining securities. While its primary focus is not on dividends, CBLS may generate income through its long positions in equities or depositary receipts. The fund's dividend distribution, if any, is influenced by the performance of its portfolio companies and their individual dividend policies. CBLS aims to maintain a net long exposure of between 30% to 70% of net assets and may invest in various sectors, with a focus on industries such as energy, technology, consumer, industrial, and healthcare. However, as an actively managed non-diversified fund, CBLS may exhibit different characteristics compared to traditional dividend-focused ETFs.
The Changebridge Capital Long/Short ETF (CBLS) employs an active management strategy that focuses on identifying undervalued securities for long positions while taking short positions in securities expected to decline in price. The fund aims to maintain a net long exposure of between 30% and 70% of its net assets. CBLS's investment process combines quantitative screening, fundamental analysis, and an assessment of a company's sustainability attributes, referred to as the proprietary QFS Investment Process. The portfolio may consist of companies with various attractive attributes, including valuation, fundamentals, and ESG considerations. Additionally, CBLS seeks to identify short positions based on factors such as declining fundamentals, weakening market positions, or overvaluation, primarily focusing on sectors like energy, technology, consumer, industrial, and healthcare. Please note that CBLS is considered non-diversified, allowing it to invest more heavily in a single issuer or fewer issuers than diversified funds.
The correlation aspect of the Changebridge Capital Long/Short Equity ETF (CBLS) is fundamental to understanding its investment strategy. CBLS is an actively managed ETF that seeks to achieve its objective by purchasing undervalued securities while taking short positions in securities expected to decline in price. Given its active approach and focus on long and short positions, CBLS's correlations may vary widely with different market segments and asset classes. For investors looking to analyze CBLS's correlation with specific sectors or asset classes, ETF Insider's web app provides a valuable tool for in-depth data visualization and analysis, helping investors make informed decisions and navigate CBLS's complex correlation landscape.
The Changebridge Capital Long/Short Equity ETF (CBLS) is actively managed and aims to achieve its investment objective by purchasing undervalued securities while taking short positions in securities expected to decline in price. The fund generally maintains net long exposure between 30% and 70% of its net assets. CBLS employs a quantitative screening and fundamental analysis approach to identify securities, with a focus on large, mid, or small-cap U.S.-listed companies. It seeks to invest in companies facing temporary uncertainties or undervalued opportunities while maintaining lower portfolio volatility compared to the broader market. CBLS may also consider environmental, social, and governance (ESG) attributes in its investment decisions. While the fund broadly invests across sectors, it may have a particular focus on sectors like energy, technology, consumer, industrial, and healthcare under normal circumstances. CBLS is considered non-diversified, potentially concentrating its assets in a smaller number of issuers.
The exposure characteristic of the Changebridge Capital Long/Short Equity ETF (CBLS) is rooted in an actively managed strategy that seeks to capitalize on undervalued securities while shorting those expected to decline in price. CBLS maintains a net long exposure between 30% and 70% of its net assets, emphasizing a balanced approach to portfolio management. CBLS identifies investment opportunities through quantitative screening and fundamental analysis, focusing on large, mid, or small-cap U.S.-listed companies. The ETF''s long positions consist of equity securities or depositary receipts, aiming to outperform the market over a market cycle while maintaining lower overall portfolio volatility. While CBLS may invest broadly across sectors, it may also concentrate on sectors such as energy, technology, consumer, industrial, and healthcare. This active management approach integrates quantitative screening, fundamental analysis, and an assessment of a company''s sustainability attributes, creating a diversified portfolio with various attractive characteristics. For investors seeking exposure to a dynamic and actively managed long/short equity strategy, CBLS provides a compelling investment opportunity.
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