ENDW vs NMBL

ENDWACambria Endowment Style ETF

NMBLDNovaTide Flexible Allocation 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.

NMBL A go-anywhere active fund: stocks, bonds, any country, emerging markets included, with no fixed allocation to defend. Launched in 2025, it charges 1.99% a year for that freedom.

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.

NMBL The Fund seeks capital appreciation through active management across multiple asset classes and countries worldwide, including emerging markets.

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.

• NMBL Genuinely unconstrained: the mandate lets management move across asset classes and countries, emerging markets included, instead of defending a fixed 60/40 split.
• What it owns matches what it promises: the portfolio lines up closely with the global multi-asset mandate written into its prospectus.
• Plain 1940 Act ETF plumbing: daily liquidity, 1099 tax reporting, no leverage or exotic wrapper bolted onto the strategy.

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.

• NMBL The fee is the hurdle. At 1.99% a year it sits at the top of the tactical allocation range, where ENDW charges 0.22% and ONOF 0.39%.
• Launched in 2025, so you are judging a process, not a record. It is also a small fund that trades lightly, which can widen bid-ask spreads.
• Built around capital appreciation, not cash flow: distributions land once or twice a year rather than monthly or quarterly.

Full ENDW profile⁠

Full NMBL profile⁠