ENDW vs EZRO

ENDWACambria Endowment Style ETF

EZRODAlphaDroid Defensive Sector Rotation ETF

In short

ENDW The endowment playbook in one ticker: global stocks, bonds and real assets, actively steered by Cambria, with built-in leverage, for 0.22% a year. Endowment ambition without the endowment fee schedule.

EZRO A whole tactical playbook in one ticker. EZRO is a fund-of-funds tracking an index that ranks sector, subsector and defensive ETFs by momentum, then rotates among them by rule, at 1.01% a year.

Stated mandate

ENDW ENDW seeks income and capital appreciation. It is actively managed to provide exposure to multiple major asset classes through underlying ETFs or individual equities.

EZRO The Fund seeks to track, before fees and expenses, the total return of the AlphaDroid EZ-RO Defensive Sector Rotation Index. It uses a passive/indexing approach.

Why people hold it

• ENDW 0.22% a year against a roughly 0.95% median for tactical allocation funds, and cheaper than the other standouts in the group such as ONOF (0.39%) and GMOD (0.50%).
• One ticker spans US, developed and emerging markets across equities, bonds and real assets, roughly 70 positions, with value and momentum screens applied on top.cambriafunds.com
• Capital efficient by design: the manager expects notional exposure of 100% to 150% of assets, using Treasury futures alongside the underlying ETF sleeves.usnews.combusinesswire.com
• Pays income quarterly, and on our review it sits among the strongest implementations in the tactical allocation group.

• EZRO Buys the whole rotation system, not a slice of it: the index spans sector, subsector and defensive ETFs from the SPDR, iShares and Vanguard lineups, held in one position.teucrium.com
• The rotation follows a published index, not a manager's gut call, so what it owns is set by written momentum rules.
• Plain registered-fund wrapper, not a commodity pool: shares list on Nasdaq and trade intraday like any stock ETF.sec.gov

Worth knowing

• ENDW It owns other ETFs, which charge their own fees on top of the 0.22% management fee, so the all-in cost of ownership runs higher than the headline.cambriafunds.com
• Leverage works both ways. Notional exposure above 100% of assets magnifies moves in either direction, and Cambria itself calls the risk profile aggressive.businesswire.com
• Launched in 2025 and still modest in size, so the record is short and shares change hands less often than mainstream index funds.

• EZRO At 1.01% with no fee waiver, it costs more than most tactical peers: ENDW charges 0.22% and GMOD 0.50% net of a waiver through June 30, 2027.
• Launched in October 2025 and still small and thinly traded, so spreads and order size matter more here than in a giant fund.
• Momentum rules read trends after they form, so a sharp reversal can leave the portfolio set for the market that just ended. It is also non-diversified.teucrium.com

Full ENDW profile⁠

Full EZRO profile⁠