LHA Market State Tactical Beta ETF
MSTB
Chicago Board Options Exchange- -
USD
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 500 Mamaroneck Avenue, Suite 405 Harrison NY United States of America 10528
- IPO Date
- Sep 30, 2020
- Website
- lhafunds.com
- Similar Companies
- Business
- LHA Market State Tactical Beta ETF (MSTB) is an actively managed exchange-traded fund that seeks long-term outperformance relative to the large-capitalization U.S. equity market through a hedged equity strategy offering exposure to the S&P 500 Index with a tactical risk-management overlay. The fund achieves its objective principally by investing long or short in instruments linked directly or indirectly to the performance and volatility of the S&P 500 Index, including S&P 500 ETFs such as SPDR S&P 500 ETF Trust (SPY), S&P 500 E-mini futures contracts, VIX futures contracts for downside protection during periods of market stress signaled by VIX marketplace conditions, U.S. Treasury bills, and money market funds like First American Government Obligations Fund and First American Treasury Obligations Fund; in calm or rising equity markets, it aims for substantial upside participation, while tactically hedging to mitigate large drawdowns and improve risk-adjusted returns with better upside/downside asymmetry than long-only equities or static hedged strategies. MSTB operates within the equity hedged category, targeting institutional investors, wealth advisors, and portfolio managers seeking risk-responsive core equity exposure as an alternative to buy-and-hold S&P 500 strategies. MSTB, a series of ETF Series Solutions and part of the LHA Market State Shares suite managed by Little Harbor Advisors, LLC, was launched in 2020 and lists on the Cboe BZX Exchange. Little Harbor Advisors, headquartered at 30 Doaks Lane in Marblehead, Massachusetts, and founded in 2012 as a boutique investment firm specializing in quantitative and alternative strategies including ETFs, separately managed accounts, and private funds, serves as the investment adviser with overall responsibility for the fund's management. The firm distributes its LHA Funds, including MSTB, through Quasar Distributors, LLC, and maintains U.S.-focused operations. In October 2025, Little Harbor Advisors highlighted MSTB's five-year anniversary since inception in 2020, noting its strong risk-adjusted performance with an 84% upside capture, 1.05 Sharpe ratio, and outperformance of the S&P 500 over the past year, alongside a four-star Morningstar rating in the U.S. Fund Equity Hedged category. Recent fund data as of December 2025 shows net assets of approximately $178.69 million, with top holdings including 80.85% in SPY and significant allocations to S&P 500 futures and Treasury bills. In September 2025, Little Harbor Advisors announced the launch of a new short-selling hedge fund strategy investing in external managers such as Orso Partners, Kingsford Capital, Contrarian Alpha Management, and Teixeira Partners, alongside internal portfolio managers, marking a strategic expansion into crisis-era short-selling approaches amid growing interest in such tactics. These developments complement MSTB's tactical hedging focus and underscore the firm's ongoing innovation in risk-managed investment products.