WBI BullBear Trend Switch US 3000 Total Return ETF
WBIT
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- WBI BullBear Trend Switch US 3000 Total Return ETF (WBIT) is an actively managed exchange-traded fund that seeks current income with potential for long-term capital appreciation while protecting principal during unfavorable market conditions; it employs a rules-based, global macro strategy that switches between U.S. large-, medium-, and small-cap equity exposure based on bullish trend signals or a quantitative bond model during bearish conditions, including U.S. Treasuries, corporate bonds, high-yield debt, and cash equivalents determined by factors such as interest rates, price momentum, yield, currency, and equity earnings. The fund, issued by Absolute Shares Trust and advised by WBI Investments, Inc., founded in 1984 and headquartered in Red Bank, New Jersey, primarily targets financial professionals and investors seeking tactical allocation across U.S. equities and fixed income with an emphasis on risk optimization. WBI Investments operates domestically in the United States, providing technology-driven investment solutions including model portfolios, separately managed accounts, and other ETFs alongside WBIT. In September 2022, the Board of Trustees of Absolute Shares Trust approved the liquidation and termination of WBIT, with trading halted and final distributions completed on or about October 14, 2022, marking a significant operational change as the fund ceased active operations due to low assets under management. Prior to closure, WBIT launched in April 2020 on the NYSE Arca exchange with a gross expense ratio of 0.68%, featuring a single holding concentrated at 100% in top positions and focusing on the Russell 3000 Total Return Index for equity benchmarking. Although some legacy price quotes persist on financial platforms, the ETF remains inactive, with net assets previously around $6.8 million and year-to-date returns reflecting market challenges before delisting. WBI Investments has since pursued other initiatives, including a strategic partnership with Pacer ETFs announced in November 2022.