ENDW vs TDSC

ENDWACambria Endowment Style ETF

TDSCBETC Cabana Target Drawdown 10 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.

TDSC Most funds bury risk in the disclosures; this one puts it in the name. TDSC steers toward a 10% peak-to-trough drawdown target, with an algorithm rotating among stocks, bonds, real estate, currencies and commodities and cash as its hatch.

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.

TDSC The Fund seeks long-term growth while managing its portfolio toward a specified drawdown, or targeted downside-risk, parameter.

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.

• TDSC Risk is defined upfront: the mandate is long-term growth managed toward a 10% drawdown target, with drawdown measured on monthly returns from a rolling high-water mark.sec.govthecabanagroup.com
• 0.86% net of a waiver through August 31, 2027, which sits below the median fee in its tactical allocation category.
• Five asset classes, one dial: equities, bonds, real estate, currencies and commodities, with signals that can move the portfolio to cash or cash equivalents in sharp downturns.sec.gov
• Trading since 2020, so the algorithm has a live public record, not just a backtest.

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.

• TDSC The 10% figure is a target, not a floor. The prospectus states it may not be maintained, and losses can run past it.sec.gov
• Thinly traded next to big index funds, so spreads and order type matter more here.
• Fee ceiling: the gross rate is 0.97%, where the cost lands if the waiver lapses after August 31, 2027. Cheaper tactical options exist, such as ENDW at 0.22%.

Full ENDW profile⁠

Full TDSC profile⁠