MKAM vs RISN

MKAMBMKAM ETF

RISNAInspire Capital Appreciation ETF

In short

MKAM A dimmer switch on the S&P 500. A trend-and-valuation model can dial US stock exposure from 100% down to zero, parking the rest in Treasuries and cash. Active management for 0.55%, no waiver.

RISN A tactical blend of U.S. large-cap stocks and U.S. bonds from a values-screening shop, built to chase long-term growth with less turbulence than the large-cap market, at a fee below the typical tactical peer.

Stated mandate

MKAM The Fund seeks to capture most equity-market returns while taking less volatility and downside risk than other equity investments.

RISN The fund seeks long-term capital appreciation with lower volatility than the U.S. large-cap stock market.

Why people hold it

• MKAM The mechanism is the product: when the model reads a falling trend or high valuations, equity exposure can fall toward zero, with the rest in Treasuries and money-market funds.sec.gov
• Two inputs, named in the prospectus: price trend and valuation. Rising trend plus reasonable valuations means more stocks; mixed signals mean a split portfolio.sec.gov
• At 0.55% with no waiver propping it up, it prices below the typical tactical allocation fund and under peers like PTBD (0.60%) and RISN (0.72%).
• Pays quarterly, and sits in the upper half of a crowded tactical allocation field.

• RISN Charges 0.72% a year, under the going rate for tactical multi-asset funds that actively shift their mix.
• One ticket holds U.S. large-cap equities alongside U.S. fixed income, with the stated aim of long-term appreciation at lower volatility than U.S. large caps.
• One of the stronger implementations in a crowded tactical multi-asset field, with a live record going back to its 2020 launch.
• Pays out quarterly, so the bond sleeve shows up as scheduled cash rather than a once-a-year surprise.

Worth knowing

• MKAM Small and thinly traded, so spreads and order size matter more here than the fee. Little funds also carry more closure risk than big ones.
• Trend models typically exit after a decline is underway and return after a rebound is underway. Whipsaw is the built-in cost of the design.sec.gov
• Non-diversified, with exposure often expressed through a handful of positions including other ETFs and money-market funds. You own a proprietary model, not an index.sec.govsec.gov 2

• RISN Thinly traded and modest in size, so bid-ask spreads can matter more than the fee does. Limit orders are the standard workaround.
• Tactical means judgment calls: the allocation can look nothing like a fixed stock/bond blend at any given moment.
• Cheap for tactical, not cheap outright. Peers such as ENDW (0.22%) and ONOF (0.39%) run at a fraction of the fee.

Full MKAM profile⁠

Full RISN profile⁠