Twin Oak Short Horizon Absolute Return ETF
TOAK
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- Twin Oak Short Horizon Absolute Return ETF (TOAK) is an actively managed exchange-traded fund that seeks capital appreciation with low price volatility through defined risk options strategies; it employs long calls, long puts, and vertical debit spreads on domestic equity securities, equity ETFs, and equity indices of any market capitalization, with option expirations between zero and one year; the fund pairs long calls with long puts and long vertical debit call spreads with long vertical debit put spreads to generate absolute returns while limiting maximum loss to the premium paid, utilizing exchange-listed, over-the-counter, or FLEX options without leverage or naked short positions. TOAK trades on NYSE Arca and may hold cash equivalents or underlying assets for liquidity and redemptions. Twin Oak ETF Company, founded in 2023 and headquartered at 888 Worcester Street, Suite 200, Wellesley, Massachusetts, serves as investment adviser, with sub-adviser Exchange Traded Concepts, LLC providing trading services; portfolio managers Zachary Wainwright and Greg Stoner oversee operations. The fund targets tax-sensitive investors such as family offices, emphasizing tax-efficient, institutional-quality strategies in the absolute return asset allocation segment. It benchmarks against the Bloomberg U.S. Aggregate Index primarily and the Bloomberg 1-3 Month U.S. Treasury Bill Index secondarily, with a net expense ratio of 0.25% after a contractual waiver from 0.45% through at least September 30, 2026. Launched on August 19, 2024, TOAK represents Twin Oak ETF Company's inaugural offering, quickly followed by the launch of the Twin Oak Active Opportunities ETF (TSPX) on Cboe BZX in early 2025, signaling expansion into multi-strategy active ETFs. The adviser formalized its sub-advisory relationship with Exchange Traded Concepts for enhanced trading execution and non-portfolio services as part of initial operational setup. No further major acquisitions, partnerships, funding rounds, or strategic shifts have been reported in the last 1-2 years.