ENDW vs THMR

ENDWACambria Endowment Style ETF

THMRCTHOR AdaptiveRisk Dynamic 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.

THMR A machine-learning-assisted tactical allocator that roams across stocks, bonds, commodities and alternatives, and is allowed to reach for leveraged ETFs when it wants more punch. Fully active, unconstrained, and priced like it.

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.

THMR The Fund seeks capital appreciation through an actively managed, risk-managed multi-strategy approach. It dynamically allocates among strategies investing in stocks, ETFs and leveraged ETFs across equities, fixed income, commodities and alternatives, using machine-learning-assisted allocation optimization.

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.

• THMR One ticker, many markets: the manager can shift among equities, fixed income, commodities and alternatives instead of riding a fixed blend.
• The toolkit includes leveraged ETFs, so exposure can be dialed up or down inside the fund rather than by you placing the trades.
• Actively managed with machine-learning-assisted allocation optimization, so there is no index to hug when the tape turns.

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.

• THMR Costs 1.10% a year, above the typical tactical multi-asset fund and well above top-ranked peers such as ENDW (0.22%) and ONOF (0.39%).
• A small asset base and light trading can mean wider spreads, which shows up most on large or hurried orders.
• A 2026 launch built for capital appreciation, not income, and leveraged ETF positions amplify moves in both directions.

Full ENDW profile⁠

Full THMR profile⁠