ENDW vs TDSB

ENDWACambria Endowment Style ETF

TDSBBETC Cabana Target Beta 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.

TDSB Five sleeves (stocks, bonds, real estate, currencies, commodities) actively shuffled in pursuit of growth with limited volatility and looser ties to the stock market. Its yardstick is the S&P 500 Equal Weight Index, not the cap-weighted one.

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.

TDSB The Fund seeks long-term growth with limited volatility and reduced correlation to overall equity-market performance through active allocation among equities, fixed income, real estate, currencies, and commodities.

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.

• TDSB Genuinely multi-asset: equities, fixed income, real estate, currencies and commodities in one wrapper, reallocated by an active manager instead of parked at fixed weights.
• The 0.91% fee sits just under the typical tactical multi-asset fund in its peer group, which is not where actively steered strategies usually land.
• Trading since 2020, so the allocation calls have a live record behind them rather than a backtest.
• Income arrives on a quarterly schedule, and the mandate is explicitly written around reduced correlation to equity markets.

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.

• TDSB Thinly traded. Expect wider bid-ask spreads than a mainstream index fund, and more price impact on bigger orders.
• Cheaper tactical allocators share the shelf: ENDW at 0.22% and ONOF at 0.39% run their own versions of the go-anywhere playbook for a fraction of the fee.
• Everything rides on the manager's rotation calls. The stated goal is growth with limited volatility, not keeping pace with a straight stock index.

Full ENDW profile⁠

Full TDSB profile⁠