EDGH vs FLSP

EDGHB3EDGE Dynamic Hard Assets ETF

FLSPAFranklin Systematic Style Premia ETF

In short

EDGH Hard assets, rented rather than owned: at least 80% of net assets goes into hard-asset exposure bought through other ETFs and derivatives, with an active manager free to dial that mix up or down as conditions shift.

FLSP A hedge-fund style trade in an ETF wrapper. FLSP goes long and short across value, momentum and carry rather than just owning cheap stocks, which makes it the odd one out in a cohort of long-only factor funds.

Stated mandate

EDGH The Fund aims to grow capital when markets rise and reduce losses when markets fall.

FLSP The fund uses a top-down risk-premia strategy focused on value, momentum, and carry factors, taking both long and short positions.

Why people hold it

• EDGH Two-sided mandate: it seeks capital appreciation in rising markets while aiming to limit losses in declines, so the manager can trim hard-asset exposure instead of riding it down.sec.gov
• Exposure arrives through ETFs and derivatives, not vaults or barrels, inside a standard 1940 Act fund rather than a commodity partnership.sec.gov
• All-in cost is 1.01%: a 0.70% management fee plus the underlying funds it owns. That lands under the median fee for its alternatives peer group.sec.gov
• For a young fund in a niche corner, shares change hands regularly, which helps keep the cost of getting in and out contained.

• FLSP Runs both long and short positions, so the outcome hinges on the gap between the stocks it likes and the ones it doesn't, not purely on the market's direction.
• Three return sources under one ticker: value, momentum and carry, blended top-down instead of stacked onto a single stock screen.
• Spreads the bet across roughly 300 positions, so no single name carries the fund.
• Live since 2019 and now a multi-billion-dollar fund, with the daily liquidity and transparency of an ETF wrapper around a strategy usually sold in private vehicles.

Worth knowing

• EDGH It launched in October 2024, so the record is short, and hard assets can sit out of favor for long stretches.
• Actively managed with no index to check it against: what you own depends on the manager's calls about when hard assets deserve more room.sec.gov
• Part of the 1.01% is the fees of the ETFs it buys, stacked on the 0.70% management fee. Cheaper cohort options exist (RNMN 0.59%, QALT 0.80%) with different strategies.sec.gov

• FLSP At 0.65% a year it costs multiples of plain-vanilla factor peers like VONV (0.06%) and FNDX (0.25%). That is the price tag on the long/short machinery.
• No public index sits behind it, so there is no external yardstick to check it against, and results can look nothing like a US stock index in either direction.
• Distributions land once or twice a year, not on a monthly rhythm.

Full EDGH profile⁠

Full FLSP profile⁠