RSBA Return Stacked Bonds & Merger Arbitrage ETF
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Return Stacked Bonds & Merger Arbitrage ETF (RSBA) ETF
No description available.
- Exchange
- BATS
- Inception
- 2024-12-17
- Has Options
- No
- Expense ratio
- 1.01% prospectus, filed Apr 27, 2026
- Assets
- $52M shares × price, Oct 15, 2026
- Trailing yield
- 3.50% paid annual
- Average daily volume
- $287K 30 sessions
- Holdings
- 19 top 10 are 63.3%
- Listed
- Dec 17, 2024 Cboe BZX
- Last fee change
- +5 bp filed Apr 27, 2026
Moves with. Long Treasuries (34% of its variance, beta 0.29); US large-cap stocks (10% of its variance, beta 0.11); High yield over Treasuries (4% of its variance, beta -0.18); Gold (3% of its variance, beta 0.02). These factors explain 53% of its daily moves over the last year.
Stated objective. Return Stacked Bonds & Merger Arbitrage ETF (the Fund) seeks long-term capital appreciation. (from the fund's prospectus)
All 19 holdingsFlow historySimilar fundsOverlap toolAll Multisector Bond ETFs
- Jul 2026
- +$3.6M latest reported month
- Latest 3 months
- +$545K +1.0% of assets
- Latest 12 months
- +$37M +70.5% of assets
View as a table
| Month | Net flow |
|---|---|
| Jul 2026 | +$3.6M |
| Jun 2026 | +$1.6M |
| May 2026 | −$4.7M |
| Apr 2026 | −$4.7M |
| Mar 2026 | −$3.7M |
| Feb 2026 | +$9.5M |
| Jan 2026 | +$20M |
| Dec 2025 | +$6.5M |
| Nov 2025 | +$1.6M |
| Oct 2025 | +$4.8M |
| Sep 2025 | +$1.6M |
| Aug 2025 | +$527K |
Net creations and redemptions from the fund's SEC filings, which become public about 60 days after each quarter. Every month since 20 months ago
- Price / earnings
- 40.2 50% loss-making · 100% covered
- Price / book · sales
- 1.6 · 1.1
- Short interest
- 7.4% of float, weighted · 3.7 days to cover
- Insider buying
- 0% of weight had net insider buying, 90 days; 19% net selling
- 13F holders
- +6.0% change in shares held by institutions, latest quarter
- Reporting earnings
- 0.0% of weight in 7 days; 19.4% in 14
Each figure is the fund's holdings weighted by position size, using our data on those stocks, and covers only the share of the stock holdings stated. Positive fair value means the holdings trade below our estimate.
| Action | Holding | Weight before | Weight after | Shares vs flows |
|---|---|---|---|---|
| New position | WBSWebster Financial Corp | — | 12.65% | — |
| Exit | GTLSChart Industries Inc | 12.51% | — | — |
| Exit | CORMasimo Corp | 12.48% | — | — |
| New position | CZRCaesars Entertainment Inc | — | 12.28% | — |
| New position | DBRGDigitalBridge Group Inc | — | 10.00% | — |
| New position | APGEApogee Therapeutics Inc | — | 9.60% | — |
| Exit | CTLPPCantaloupe Inc | 4.65% | — | — |
4 new, 3 exited, 0 increased and 0 decreased between the fund's two latest holdings reports; turnover 47.5%. Full holdings and history
- Authorized participants
- 3 active of 3 with agreements; top 3 did 100%
- Created · redeemed
- $49M · $6.2M over the fiscal year
- Redemptions in kind
- 0% creations 0% in kind
- Creation unit
- 25,000 shares
- Securities lending
- not authorized
- Diversification status
- Non-diversified may concentrate in fewer issuers
From the fund's annual census filing with the SEC. In-kind redemptions are what let an ETF shed appreciated securities without realising gains.
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| 2025-12-29 | 2025-12-30 | $0.7029 | CD |
| 2024-12-31 | 2025-01-03 | $0.0030 | CD |
| Symbol | Name | Weight % | Asset Class | Country |
|---|---|---|---|---|
| — | First American Government Obli | 28.00% | Short-term investment | US |
| WBS | Webster Financial Corp | 12.65% | Equity (common) | US |
| CZR | Caesars Entertainment Inc | 12.28% | Equity (common) | US |
| DBRG | DigitalBridge Group Inc | 10.00% | Equity (common) | US |
| APGE | Apogee Therapeutics Inc | 9.60% | Equity (common) | US |
| TALK | Talkspace Inc | 4.86% | Equity (common) | US |
| CCO | Clear Channel Outdoor Holdings | 4.70% | Equity (common) | US |
| PEN | Penumbra Inc | 4.65% | Equity (common) | US |
| BHF | Brighthouse Financial Inc | 4.56% | Equity (common) | US |
| — | N/A | 0.03% | Derivative (equity) | US |
| — | N/A | 0.01% | Derivative (equity) | US |
| — | N/A | 0.00% | Derivative (equity) | US |
| — | N/A | -0.06% | Derivative (interest rate) | US |
| — | N/A | -0.11% | Derivative (equity) | US |
| — | N/A | -0.16% | Derivative (interest rate) | US |
| — | N/A | -0.22% | Derivative (interest rate) | US |
| — | N/A | -0.54% | Derivative (interest rate) | US |
| BSX | Boston Scientific Corp | -1.91% | Equity (common) | US |
| SAN | Banco Santander SA | -4.76% | Equity (common) | ES |
| Category | Weight | Value | Positions |
|---|---|---|---|
| Short-term investment | 28.00% | $14.7M | 1 |
| Derivative (equity) | -0.07% | $-37522 | 4 |
| Derivative (interest rate) | -0.98% | $-513853 | 4 |
| Month | '24 | '25 | '26 | Avg |
|---|---|---|---|---|
| Jan | -- | 0.32% | 0.38% | 0.35% |
| Feb | -- | 2.01% | 1.12% | 1.56% |
| Mar | -- | 0.24% | -1.25% | -0.51% |
| Apr | -- | 0.10% | 0.47% | 0.28% |
| May | -- | -0.25% | -0.05% | -0.15% |
| Jun | -- | 2.21% | 1.07% | 1.64% |
| Jul | -- | -0.27% | -1.97% | -1.12% |
| Aug | -- | 0.49% | -1.11% | -0.31% |
| Sep | -- | 0.89% | -2.72% | -0.92% |
| Oct | -- | 0.49% | 0.85%* | 0.67% |
| Nov | -- | 1.12% | -- | 1.12% |
| Dec | -0.05% | -3.34% | -- | -1.69% |
| Total | -0.05% | 3.97% | -3.24% | 0.23% |
Quick-reference for reading the values below. Indicators combine to confirm a view — no single one is a trade signal on its own.
- SMA 20 / 50 / 200 — price above = uptrend, below = downtrend. SMA 50 crossing SMA 200 is the golden/death cross.
- EMA 12 / 26 — faster-reacting averages; 12 above 26 is short-term bullish.
- MACD — bullish when MACD > signal (green badge), bearish when below. Divergence from price often precedes reversals.
- ADX (14) — trend strength regardless of direction. <20 range, 20–25 weak trend, 25–50 trend, >50 strong trend.
- +DI / −DI — +DI > −DI favors bulls; the reverse favors bears. Read alongside ADX.
- RSI (14) — <30 oversold, >70 overbought. 40–60 is neutral; trending names can stay extreme.
- Stochastic %K / %D — <20 oversold, >80 overbought. %K crossing %D is an early momentum signal.
- Williams %R — inverted scale: <−80 oversold, >−20 overbought.
Oscillators work best in range-bound markets; in strong trends they give premature reversal signals.
- Bollinger Bands — price at upper band = overbought, lower = oversold. Narrow bands (squeeze) often precede expansion.
- OBV — cumulative volume; rising OBV confirms uptrend, falling OBV confirms downtrend. Divergence from price is a warning.
- Vol SMA 20 / Vol ROC — today's volume vs. 20-day average. Positive ROC with price move = conviction.
- ATR / True Range — average daily $ move; sizing and stop-loss reference.
- HV 20 / 30 / 60 — realized (historical) volatility. Compare to IV on the options cards: IV > HV = rich premium.
Confluence matters: trend + momentum + volume agreeing carries far more weight than any single indicator. For how these feed the spread scanner score, see the algorithm docs →
Trend Indicators
Momentum Oscillators
Volume & Volatility
Data Summary
LLM Stock Analysis Report: RSBA
Executive Summary
Overall Assessment: NEUTRAL (confidence level: 6/10)
Key Drivers:
- Technical indicators point to a range-bound market, with no clear trend direction
- Low volatility suggests a calm market environment
- Recent news sentiment is unclear due to lack of recent news headlines
Primary Risks:
- Potential for a breakout or breakdown from the current trading range
- Lack of clear catalysts could lead to indecision and limited price movement
Investment Thesis: RSBA's relatively low volatility and stable price action make it an attractive stock for those seeking a defensive play. However, the absence of recent news headlines and unclear trend direction may limit its upside potential.
Recent News Sentiment Impact: N/A (no recent news available)
Technical Analysis
Trend Direction: NEUTRAL (no clear short-term, medium-term, or long-term trend)
Support/Resistance Levels:
- SMA 20: $20.52
- SMA 50: $20.75
- SMA 200: $20.93
- Upper Bollinger Band: $20.72
Momentum Signals:
- RSI (14): 36.43 (neutral)
- MACD: -0.09 / Signal: -0.00 / Histogram: -0.09 (bearish)
Volume Analysis: Volume SMA 20: 14946.55; On-Balance Volume (OBV): -848283.20
News & Sentiment Analysis
Recent Headlines Summary: N/A (no recent news available)
Sentiment Assessment: N/A (no recent news available)
Catalyst Identification: None
Market Narrative: The lack of recent news headlines makes it difficult to discern a clear narrative.
Risk & Volatility Assessment
Beta Interpretation: 0.15 (relatively low risk vs SPY)
Volatility Regime: Low volatility, with stock moves less than the market
Options Market Signals: N/A (no options data available)
Downside Protection: Support levels at SMA 20 and SMA 50
Market Context & Positioning
Sector Performance: NEUTRAL (RSBA is part of a generally stable sector)
Institutional Activity: Volumes indicate institutional interest, but no clear trend
Correlation Analysis: RSBA's movements are relatively uncorrelated with the market (R-squared interpretation: 0.35)
Relative Valuation: Position within trading range
Key Levels & Action Items
Critical Price Levels:
- SMA 20: $20.52
- SMA 50: $20.75
- SMA 200: $20.93
- Upper Bollinger Band: $20.72
Breakout/Breakdown Levels: N/A (no clear breakout or breakdown signals)
Time-Sensitive Catalysts: None
Risk Management: Monitor volumes and OBV for signs of institutional interest, and consider adjusting stop-loss levels accordingly.
Please note that the lack of recent news headlines and unclear trend direction make it challenging to provide a more definitive assessment.
RSBA Options Activity & IV Rank
Each spread is ranked by a composite score built in three stages. Full documentation →
score = P(profit) × (credit / spread_width)
P(profit) from short leg delta (1 − |delta|), penalised above 85%. Credit uses mid-price to handle illiquid chains fairly.
RR and BF (30-delta) from the persisted per-symbol skew snapshot — wing strikes picked by real greeks.delta, not a moneyness proxy. Put skew boosts bull puts, penalises bear calls. High butterfly boosts iron condors. Calendars are skew-neutral.
- RSI <40 bullish / >60 bearish
- MACD crossover + histogram trend
- Price vs SMA 50 & SMA 200
- Stochastic %K <20 / >80
- Williams %R <−80 / >−20
- Blended ATR + straddle expected-move penalty
- Bollinger Band signal (+ counter-trend penalty)
- BB width — vol contraction boost for ICs
- IV rank ≥ 75 → strong boost for credit spreads
- IV rank < 25 → penalty (selling cheap vol)
- Min open interest across all legs
- OI < 100 → −0.10 · OI < 500 → −0.05
score = base_score × skew_multiplier × tech_multiplier
Both multipliers are shown per spread. Beta is informational only — ATR already captures realized vol. Full algorithm documentation →
Enter a ticker to scan for optimal spread opportunities.
Evaluates all bull put, bear call, iron condor, and calendar spread combinations using GPU-accelerated analysis.
IV(put wing) − IV(ATM), in vol pointsHow much the OTM put trades above (or below) the at-the-money strike. Measures the height of the put-side tail relative to ATM — i.e. how expensive crash insurance is on this name.
- Positive (typical) — wing IV > ATM IV. Standard equity put skew: portfolios bid up crash protection, so OTM puts trade richer than ATM.
- Near zero or negative (unusual) — wing IV ≤ ATM IV. Flat or inverted put side. Common when there's no fear demand, in tightly mean-reverting names, or right after an earnings catalyst clears.
- Percentile vs own 3-yr history: high = wings rich (good time to sell wing premium); low = wings cheap (good time to buy protection).
- Not directional — high or low wings don't predict up or down moves. It's a price tag on tail insurance, not a forecast.
IV(call wing) − IV(put wing), equal delta on each sideWhich side of the smile is the market paying up for? Measures the tilt of the surface — call skew vs put skew at matched deltas.
- Negative (typical) — puts richer than calls. Standard equity behavior: hedging demand makes puts carry a premium. Most large-caps sit in the −1 to −5 vol-point range.
- Strongly negative (< −5 pts) — heavy downside hedging, elevated fear, or an upcoming catalyst (earnings, FDA, macro event). Worth flagging.
- Positive — calls richer than puts. Unusual for equities; signals bullish momentum, short-squeeze positioning, or takeover/M&A speculation.
- Near zero — symmetric surface. Market sees roughly equal up/down risk. Rare for large-caps; more common in commodities and FX.
Wing-vs-ATM tells you how expensive the tails are. Risk Reversal tells you which side is favored. Combined:
- High wing percentile + deeply negative RR → strong put bid; stress or major event priced in. Owning protection costs a premium; selling put premium is dangerous.
- Low wing percentile + near-zero RR → complacency; insurance cheap and balanced. Good environment to add cheap downside hedges.
- Positive RR + elevated wings → call-side fear-of-missing-out; common in squeeze setups. Upside calls expensive, downside puts not bid.
Percentile is the rank of today's reading within ~3 years of this symbol's own history. High percentile = wings are rich relative to history; not a directional signal. Skew is read off the chain in real time, not from CBOE SKEW.
Enter a ticker to render the implied volatility surface.
Enter a ticker to render the implied volatility smile.
Risk Metrics
Analysis Details
Data Points: 251
Period: 252 trading days
Low volatility - stock moves less than market
RSBA Institutional Ownership (13F)
Latest filings — 2026-06-30Institutional managers with $100M+ AUM file Form 13F-HR quarterly, due 45 days after quarter end. Holdings are reported gross at quarter-end market value — they are a snapshot, not a real-time position.
- Shares — long equity positions in this name, aggregated across share classes.
- Calls / Puts — notional value of long call / put exposure where this ticker is the underlying.
- % of Float — holder's reported shares divided by the latest diluted shares outstanding. Sums above 100% indicate large custodian / prime broker positions where the same shares are reported by multiple filers.
- Custodian badge — filers with more than 5,000 holdings are typically broker-dealers / custodians reporting customer-held shares, not active managers.
Each filer is counted once at its latest 13F-HR filing. New filings are ingested on a weekly cadence.
| # | Filer | Notional Value | % of Total | Period |
|---|
| # | Filer | Notional Value | % of Total | Period |
|---|
Click any bar to view the full quote for that stock.
| Symbol | Name | Weight % | Price | 1 Day | 1 Week | 1 Month |
|---|---|---|---|---|---|---|
| WBS | Webster Financial Corp | 12.65% | $77.57 | -0.51% | -1.90% | +1.23% |
| CZR | Caesars Entertainment Inc | 12.28% | $28.8 | -1.54% | -2.37% | -2.83% |
| DBRG | DigitalBridge Group Inc | 10.00% | $16 | +0.13% | +0.13% | +0.57% |
| APGE | Apogee Therapeutics Inc | 9.60% | $135.07 | -0.01% | +0.09% | +0.63% |
| TALK | Talkspace Inc | 4.86% | $5.25 | +0.00% | +0.57% | +0.77% |
| CCO | Clear Channel Outdoor Holdings | 4.70% | $2.42 | -0.41% | +0.83% | +1.26% |
| PEN | Penumbra Inc | 4.65% | $320.86 | -0.11% | +0.46% | +1.03% |
| BHF | Brighthouse Financial Inc | 4.56% | $47.77 | -1.91% | -1.57% | -4.36% |
| BSX | Boston Scientific Corp | -1.91% | $44.39 | +0.57% | +3.88% | +2.42% |
| SAN | Banco Santander SA | -4.76% | $13.3 | -1.19% | -1.41% | -7.06% |