CIO Group files five ETFs inside Tidal Trust IV

CIO Capital Group, which the filing calls CIO Group, has filed to launch five exchange-traded funds as new series of Tidal Trust IV. Nothing in the Nov. 4 amendment changes a fund an investor holds today.

David Bailin and Steven Wieting, portfolio managers for CIO Group, are named on every fund. In an Oct. 7, 2025 release, the firm called Bailin its founder and chief executive, and the former global head and chief investment officer of Citi Wealth.

The same day, it said Wieting had joined as co-chief investment officer and co-founder, after chairing Citi Wealth's Global Investment Committee from 2013 to early 2025. The release said the two had worked together at Citi Wealth for more than a decade.

Tidal Trust IV is already registered, and these five series are not. Tidal Investments LLC, a Tidal Financial Group company, would be the adviser. CIO Group would manage the portfolios day to day as sub-adviser to Tidal Investments, using that trust.

The shares cannot be sold until the registration of the new series is effective. The trust proposes that the amendment take effect 75 days after the Nov. 4 filing. The filing says the funds had not commenced operations and no shares were outstanding.

The preliminary prospectus prints a proposed symbol for each series. None is listed, and the document does not name an exchange.

CIO Group Enhanced Yield ETF

Portfolio managers from Tidal Investments are named alongside Bailin and Wieting on every fund except CIOY. Radcliffe Capital Management, L.P. is a second sub-adviser, and only for that fund. The prospectus says Radcliffe does not sub-advise the other four, and that Radcliffe will use fundamental credit analysis here.

Bailin and Wieting are still named as jointly and primarily responsible for CIOY, along with Radcliffe's portfolio managers and two portfolio managers from the adviser.

CIOY is the only one of the five the filing classifies as diversified. It would invest primarily in short-term, dollar-denominated corporate debt, including debt of business development companies, master limited partnerships and real estate investment trusts. The mix of senior and subordinated bonds, convertible bonds and loans is generally expected to leave a weighted average maturity under two years, though the fund may buy longer bonds.

Under normal conditions it will concentrate more than 25% of its total assets in financial services. It does not intend to borrow in order to invest. It may borrow from banks up to 10% of net asset value for liquidity.

U.S. Growth Generators and core equity

CIOG and CIOI share a test. In the prospectus, a Growth Generator is a company CIO Group determines has exposure to long-running growth industries and the potential to benefit from long-term growth trends. In normal markets, CIOG must invest at least 80% of net assets, plus any borrowings for investment, in U.S. issuers that meet that test. CIOI uses the same 80% test for issuers outside the United States.

CIOG generally starts with companies in the S&P Composite 1500. It emphasizes selected sub-industries within that universe, using the Global Industry Classification Standard, rather than seeking to replicate the index. Financial companies are generally excluded.

Weights follow CIO Group's read of forward earnings, valuation and the economy, not market value alone.

CIOI sets no country limit. It expects holdings in Europe, the Asia-Pacific region, other developed markets, emerging markets and frontier markets.

CIOX starts from the S&P 1500 and drops industry groups CIO Group has identified as historically capital-intensive, highly cyclical or structurally impaired. The prospectus gives examples: automobiles and components, airlines and air freight, regional and consumer banking, and building products and home construction. What remains is generally weighted by market value.

The prospectus says the fund is actively managed and is not an index fund.

The 80% policies on CIOG, CIOI and CIOX are non-fundamental. They can be changed without a shareholder vote, with at least 60 days' notice.

Those three funds, and CIOL, are classified as non-diversified. Each may put more of its assets in a single issuer than a diversified fund may.

CIO Group Latitude ETF

CIOL would seek total return by investing across asset classes, both directly and through other ETFs, mutual funds and other pooled vehicles, including funds affiliated with the adviser. Direct holdings can include midstream energy companies, among them master limited partnerships; real estate investment trusts; U.S. Treasuries, including inflation-protected Treasuries; and bonds and loans rated below investment grade. Gold, managed futures, merger arbitrage and catastrophe bonds would come through other funds.

CIO Group would split the assets between a core portfolio, meant to be held as conditions change, and an opportunistic portfolio that shifts with the economic setting the firm names. When CIO Group believes markets are under elevated strain, a setting it calls Stress takes precedence.

In that setting, the prospectus says, the opportunistic portfolio may sit mainly in other funds that hold long-term Treasuries, managed futures and inflation-protected Treasuries. The filing does not set a fixed split between the two portfolios.

The fund may put up to 25% of its total assets in a wholly owned Cayman Islands subsidiary, measured at the end of each fiscal quarter. The prospectus says the subsidiary is how the fund would hold some investments, including certain gold products, that would not count toward the income test the fund itself must pass.

Management fees

The management fee is blank on every fund. The prospectus says that in exchange for a single unitary management fee, the adviser has agreed to pay each fund's expenses, except the advisory fee and a stated list that includes interest, taxes, brokerage commissions and fees from other funds. The distribution fee is listed as none.

The investment advisory agreement with Tidal Investments and the sub-advisory agreement with CIO Group are each marked to be filed by amendment.