Toroso Investments, LLC is a partnership of financial thought leaders that is steeped in the intricacies of the ETF landscape. Through the three core business units – wealth advisory, asset management and consulting – Toroso helps clients grow, prosper and succeed through the better use of ETFs. The team is fully committed to leading the ETF Industry to become the investment medium of choice for individuals, family offices, and institutions. It is with this vision that Toroso built the Toroso ETF Industry Index and sponsored TETF – ETF Industry Exposure & Financial Services ETF.
Managing Partner & CEO
Over 15 years of experience in financial services and management responsibilities, focused on growth initiatives, product launches, and sales management. He also has direct experience with startup companies and corporate build outs. Responsible for Toroso’s key initiatives and strategic relationships.
Guillermo is CEO of Toroso Investments and Tidal Growth Consultants. Prior to Toroso, Guillermo led the sales and business development efforts at Global X Funds helping the company reach approximately US$4 billion in AUM. Previously, he was the founder and managing partner of two venture capital firms (MC Capital and GT Capital) dedicated to the incubation and growth of start-ups in the US and Latam. Prior to that, he was founder and CEO of a pioneer food distributor in the US. Guillermo began his career in the area of M&A investment banking with Bankers Trust & Deutsche Bank. He has a degree in Business Administration from CUNEF (top finance college in Spain) and holds an MBA from the Kellogg School of Management (Northwestern University) in Chicago.
Co-Founder & CIO
15 years experience in the asset management business.Prior experience included head of investments at Global X Management (a provider of ETFs), and business development, investment strategy, and strategic initiatives at Horizon Kinetics. Responsible for all investment management, research, and trading.
Michael is Co-Founder and Chief Investment Officer of Toroso Investments and Tidal Growth Consultants. His most recent position was Head of Investments at Global X Funds where he provided portfolio optimization services to institutional clients. Previously he was Senior Vice President at Horizon Kinetics where his responsibilities included new business development, investment strategy, client and strategic initiatives. Michael was instrumental in the establishment of multiple strategic investments and partnerships related to ETFs, Exchanges and Indexation. In 2014, Michael was chosen as one the ETF.COM All Stars for his research and is often quoted as an ETF expert in publications such as Reuters and Barron’s. Michael Venuto studied Philosophy and Religion at NC State University and is an avid Chess player.
CCo-Founder & CFO
30 years of 401(k) and financial services experience with Buck Consultants, Lincoln Financial, and Avatar. Developed and launched mutual funds, collective trusts of ETFs, 529 plans, and multi-manager 401(k) platforms. Responsible for all operational and financial aspects of the company.
Dan is Co-Founder and Chief Financial Officer of Toroso Investments and Tidal Growth Consultants. Previously, he was Chief Marketing Officer at Avatar Associates in New York City where Dan lead the business development efforts as Avatar grew assets in managed portfolios of ETFs to represent over 80% of the Firm’s assets under management. Previously, he headed the marketing and product development efforts at Delaware Investments in Philadelphia. Dan has served on a national industry board and heads a non-profit educational foundation. He started his career in Chicago, first with BMO Harris and then as a partner at Buck Consultants, serving large pension and retirement programs. Dan holds a BS degree in Accountancy from the University of Illinois, Champaign Urbana.
The index committee interprets the revenue, public statements and other financial data on the companies within the investable universe. The index committee includes five members: two from Toroso (Trias and Venuto) and the three independent ETF industry veterans below.
Over 15 years of experience in asset management, with extensive expertise in ETF managed solutions, ETF research and execution, and portfolio management. Dr. Zhang is a co-founder of Women in ETFs. She is a recipient of the Top Women in Asset Management Awards 2015 by Money Management Executive and is the founder of Purview Investments.
Linda H Zhang, Ph.D, is the founder of Purview Investments, a firm specializing in active ETF research and ETF managed solutions. She has devoted her career to asset management, with extensive expertise in building ETF managed solution business, ETF research and execution, macro investment research and portfolio management. She was most recently the Head of Investment Research and Senior Portfolio Manager at Windhaven Investment, a lead ETF managed solution firm. Previously, she served as PM of Global Multi-Asset, Absolute Return and Commodities mutual funds at institutional asset manager MFS and as a lead PM at BlackRock’s Multi-Asset Solution Group, and serving on the asset allocation committee. In addition to PM duties, Dr. Zhang has had responsibilities as a quantitative analyst; modeling security, sector, country, factor and investment style selection; and conducting quantitative research in fixed income, risk modeling and performance analytics.
Dr. Zhang is a co-founder of Women in ETFs. She is a recipient of the Top Women in Asset Management Awards 2015 by Money Management Executive. She has spoken extensively about global investment and ETF topics in industry conferences, business media. She has published in Journal of Investing, CFA Digest, Journal of Alternative Investments and etf.com. She is a member of The Economic Club of New York and Boston Committee on Foreign Relations. Dr. Zhang got her B.A. in Business from University of Regina, Canada, a Master’s degree in Applied Economics and a Ph.D in Finance from University of Massachusetts at Amherst.
Over 15 years of experience in financial services and management responsibilities, focused on ETP financing activity and ETP-related investments, index development, and index licensing. Previously, as Head of ISE ETF Ventures at the International Securities Exchange, he was involved in the formation, launch, marketing, and distribution of many investment products.
Kris is managing partner of Level ETF Ventures. Mr. Monaco served as Head of ISE ETF Ventures at the International Securities Exchange and has a proven track record of bringing new products from concept to commercial launch in his 14 years at ISE. He oversaw all ETP financing activity and ETP-related investments, derivative product development, product partnerships, index development, and index licensing. Mr. Monaco was also responsible for negotiating, structuring, and syndicating all ETP deals. Mr. Monaco has conceived or designed dozens of indexes and has managed the development of many more, most of which have been the basis for ETFs, ETNs, UITs, mutual funds, or cash-settled derivatives. He has been involved in the formation, launch, marketing, and distribution of many investment products, and is deeply familiar with product structure, contractual agreements, regulatory requirements, exchange rules, and market microstructure. Mr. Monaco graduated from Baruch’s Nash Program with an MBA, and from The Cooper Union with a Master of Engineering degree and a Bachelor of Engineering degree.
Founder and Managing Member of Big Tree Capital. Mr. Carter serves on the Index Committee of the Toroso ETF Industry Index and as the Chairman of the EMQQ Index Committee. Over Kevin’s more than 20-year career in financial services, he has started and sold three companies, launched seven ETFs, and served as advisor to numerous financial transactions.
Mr. Carter is the Founder of EMQQ the Emerging Markets Internet & Ecommerce ETF (NYSE: EMQQ) and Chairman of the EMQQ Index Committee. Prior to EMQQ Mr. Carter was the Founder & CEO of AlphaShares, an investment firm offering five Emerging Markets ETFs in partnership with Guggenheim Investments. Previously Mr. Carter was the Founder & CEO of Active Index Advisors acquired by Natixis in 2005 and the Founder & CEO of eInvesting acquired by ETRADE in 2000. Mr. Carter received a degree in Economics from the University of Arizona and began his career in 1992 with Robertson Stephens & Company.
Burton Malkiel, an American economist and writer, most famous for his classic finance book A Random Walk Down Wall Street (now in its 12th edition, 2015). He is a leading proponent of the efficient-market hypothesis, which contends that prices of publicly traded assets reflect all publicly available information, although he has also pointed out that some markets are evidently inefficient, exhibiting signs of non-random walk.
Malkiel in general supports buying and holding index funds as the most effective portfolio-management strategy, but does think it is viable to actively manage “around the edges” of such a portfolio, as financial markets are not totally efficient. Malkiel is the Chemical Bank chairman’s professor of economics at Princenton University, and is a two-time chairman of the economics department there. He served as a member of the Council of Economic Adviser (1975–1977), president of the American Finance Association (1978), and dean of the Yale Scholl of Management (1981–1988). He also spent 28 years as a director of The Vanguard Group. He currently serves as Chief Investment Officer to software-based financial advisor, Wealthfront Inc and as a member of the Investment Advisory Board for Rebalance IRA. In 1949, Malkiel graduated from Boston Latin School, and went on to receive his bachelor’s degree (1953) and his MBA (1955) from Harvard University. He originally went into the business world, but had always had an interest in academic economics and eventually earned his doctorate (1964) from Princeton University.
Holdings are subject to change.
To determine if the fund is an appropriate investment for you, carefully consider the fund’s investment objectives, risk, and charges and expenses. This and other information can be found in the fund’s full prospectus, which can be obtained by visiting www.tetfetf.com. Please read the prospectus carefully before investing.
There are risks involved with investing, including possible loss of principal. The Fund's assets will be concentrated in the financial services sector, which means the Fund will be more affected by the performance of the financial services sector than a fund that is more diversified. Companies engaged in ETF Activities could be adversely affected if the current growth of the ETF market is not sustained. The Fund’s return may not match or achieve a high degree of correlation with the return of the Index.
There is no guarantee the fund will achieve its stated objective. The Fund is non-diversified. The NAV of the Funds shares is calculated each day the national securities exchanges are open for trading as of the close of regular trading on the New York Stock Exchange (NYS ), normally 4:00 p.m. Eastern time (the NAV Calculation Time). Shares are bought and sold at market price not NAV. Closing price returns are based on the midpoint of the bid/ask spread at 4:00 pm Eastern Time (when NAV is normally determined) and do not represent the returns you would receive if you traded shares at other times. Brokerage commissions will reduce returns. Exchange Traded Concepts, LLC serves as the investment advisor, and Penserra Capital Management LLC serves as a sub advisor to the fund. The Funds are distributed by SEI Investments Distribution Co. (1 Freedom Valley Drive, Oaks, PA, 19456), which is not affiliated with Exchange Traded Concepts, LLC or any of its affiliates.
Diversification may not protect against market risk.
Shares are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Brokerage commissions will reduce returns
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