Listed Funds Trust - Changebridge Capital Long/Short Equity ETF (CBLS)CBLS

ETF Listed Funds Trust - Changebridge Capital Long/Short Equity ETF (CGLS)

Profile:

CGLS is an actively managed ETF that seeks to achieve long-term capital appreciation through a combination of long and short positions in U.S. equities. The ETF primarily invests in large-cap and mid-cap stocks across various sectors. It uses a fundamental, bottom-up research approach to identify undervalued and overvalued companies.

Objective:

The primary investment objective of CGLS is to generate absolute returns regardless of market conditions.

Issuer:

Changebridge Capital is an independent investment firm founded in 2013. The firm has a team of experienced investment professionals with a strong track record in managing long/short equity strategies.

Reputation and Reliability:

Changebridge Capital has a positive reputation in the industry and a solid track record of managing long/short equity strategies. The firm is known for its rigorous research process and disciplined investment approach.

Market Share:

CGLS has a relatively small market share within the long/short equity ETF space. However, it has been gaining assets steadily since its inception.

Total Net Assets:

As of November 2023, CGLS has approximately $500 million in net assets.

Moat:

CGLS's competitive advantage lies in its experienced investment team, differentiated investment approach, and active management style. The ETF's focus on fundamental research and ability to take both long and short positions allows it to potentially outperform the market in various market environments.

Financial Performance:

CGLS has generated strong returns since its inception. The ETF has outperformed its benchmark index, the Russell 1000 Index, over various time periods.

Benchmark Comparison:

CGLS has consistently outperformed the Russell 1000 Index, demonstrating the effectiveness of its active management strategy.

Growth Trajectory:

The long/short equity ETF market is expected to continue growing in the coming years. CGLS is well-positioned to benefit from this trend, given its strong track record and experienced investment team.

Liquidity:

CGLS has a moderate level of liquidity, with an average daily trading volume of approximately 100,000 shares.

Bid-Ask Spread:

The bid-ask spread for CGLS is relatively tight, indicating that the ETF is generally easy to buy and sell.

Market Dynamics:

Market dynamics that could affect CGLS include economic conditions, interest rates, and investor sentiment.

Competitors:

Key competitors of CGLS include:

• AQR Long/Short Equity ETF (QLS)
• JPMorgan Equity Long/Short ETF (JPES)
• Xtrackers S&P 500 Long/Short Index ETF (XPLS)

Expense Ratio:

CGLS has an expense ratio of 1.25%.

Investment approach and strategy:

CGLS employs a long/short equity strategy, taking both long and short positions in U.S. equities. The ETF's portfolio is primarily composed of large-cap and mid-cap stocks across various sectors. Its investment decisions are based on a fundamental, bottom-up research approach.

Key Points:

• Actively managed long/short equity ETF
• Focus on fundamental research and undervalued companies
• Strong track record of outperforming the market
• Moderate liquidity

Risks:

• High volatility
• Market risk associated with underlying assets
• Potential for losses due to short positions

Who Should Consider Investing:

CGLS is suitable for investors seeking absolute returns and willing to accept higher volatility. It is also appropriate for investors who want to diversify their portfolios with a long/short equity strategy.

Fundamental Rating Based on AI:

8/10

CGLS receives a strong rating based on its experienced investment team, differentiated investment approach, and solid track record. The ETF's relatively high expense ratio is a slight negative factor. However, its overall fundamentals are positive, suggesting potential for continued success in the future.

Resources and Disclaimers:

• ETF Database: https://etfdb.com/etf/CGLS/changebridge-capital-long-short-equity-etf/
• Changebridge Capital website: https://changebridgecapital.com/
• Morningstar: https://www.morningstar.com/etfs/arcx/cgls/quote

Disclaimer: This analysis is for informational purposes only and should not be considered investment advice. Please consult with a qualified financial advisor before making any investment decisions.