Tuttle Capital Launches 0.95% Fee ETF Targeting Memory Semiconductor Ecosystem
CBOE•Tuttle Capital Management launched the Concentrated Memory Stack ETF (HBMX) on Cboe with a 0.95% management fee and matching expense ratio. The actively managed fund will hold 20 to 35 memory semiconductor names, investing at least 80% of net assets in ecosystem participants.
1. ETF Launch and Listing
Tuttle Capital Management listed the Concentrated Memory Stack ETF (HBMX) on Cboe, setting a 0.95% management fee and matching gross expense ratio fully covered by the adviser. The fund begins trading with a focus on delivering long-term capital appreciation through thematic exposure.
2. Investment Strategy
HBMX is an actively managed, non-diversified fund holding approximately 20 to 35 equity securities. Under normal conditions it invests at least 80% of net assets in memory semiconductor companies or related instruments and may use derivatives without exceeding 100% notional exposure.
3. Memory Stack Ecosystem Focus
The ETF targets pure-play participants across the memory ecosystem, including DRAM, NAND and high-bandwidth memory producers, advanced packaging, OSAT providers, substrates and interconnects, plus inspection and testing equipment firms with at least 25% revenue from memory technologies.
