WIZ — Merlyn.AI Bull-Rider Bear-Fighter ETF
Data updated: 2023-12-14
WIZ — Merlyn.AI Bull-Rider Bear-Fighter ETF. Inverse / Short · $16.40M AUM · 1.20% expense ratio. Holdings, fees, performance and SEC filings.
WIZ Fund Overview
WIZ — Merlyn.AI Bull-Rider Bear-Fighter ETF is a US ETF managed by EA Series Trust, categorised as Inverse / Short. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US ETF
- Manager: EA Series Trust
- Category: Inverse / Short
- Assets under management: $16.40M
- 1-year return: 2.4%
- Ticker: WIZ
- SEC CIK: 0001592900
- SEC series ID: S000066452
- Share class ID: C000214347
WIZ Investment Objective and Strategy
Merlyn.AI Bull-Rider Bear-Fighter ETF describes its objective and strategy as follows, from its latest prospectus filed with the SEC by EA Series Trust.
Investment objective
Merlyn.AI Bull-Rider Bear-Fighter ETF (the Fund) seeks to track the total return performance, before fees and expenses, of the Merlyn.AI WIZ Bull-Rider Bear-Fighter Index (the Index).
Principal investment strategy
The Funds Investment Strategy The Fund employs a passive management (or indexing) investment approach designed to track the performance, before fees and expenses, of the Index. The Fund employs two different investment strategies depending on whether the Index anticipates a bull market or a bear market. In either case, the Fund will invest primarily in other exchange-traded funds (ETFs). When a bull market is anticipated, the Funds portfolio will generally reflect a classic growth portfolio having approximately 80/20 stocks/bonds allocation weights. In addition, the Funds portfolio will generally have approximately 75/25 domestic/international equity allocation weights. In that case, the Fund will generally invest in six ETFs that are considered sector ETFs, factor ETFs, style ETFs, country ETFs, global/regions ETFs, and bond ETFs.
? Sector ETFs are ETFs invest primarily in one of several economic sector sub-categories, such as healthcare, energy, technology, and finance. ? Factor ETFs are ETFs that invest primarily based on one of several investment factor categories, such as value, growth, dividends, earnings, size, and momentum. ? Style ETFS are ETFs that invest primarily based on one of several investment style sub-categories, such as large-cap, large-cap growth, large-cap value, mid-cap, mid-cap growth, mid-cap value, small-cap value, equal weight, growth, and value. ? Country ETFs are ETFs that invest primarily in a single country, which can be any country in the World. ? Global ETFs are ETFs that invest primarily in one of several broad geo-political region categories, such as global, Europe, Asia Pacific, North America, and emerging markets.
? Bond ETFs are ETFs that primarily invest in of several bond sub-categories, such as treasuries, aggregate bonds, corporate bonds, mortgage bonds, municipal bonds, and high-yield bonds. Conversely, when a bear market is anticipated, the Fund will generally invest in four or more ETFs that typically have a more conservative risk profile compared to the bull market ETFs. However, except as noted below, even when a bear market is anticipated, the Fund may invest in ETFs that are considered high-risk or are subject to equity market volatility, such as junk bond funds and broad-based U.S. equity market funds. When a bear market is anticipated, the Fund will invest primarily in ETFs that are considered: inflation protected, medium- and long-term treasury funds, aggregate bond funds, long-term bond funds, corporate bond funds, high-yield bond funds, gold funds, and broad-based U.S.
equity market funds. However, if the Index anticipates a bear market due to excess market volatility, the Index will be limited to inflation protected, medium- and long-term treasury ETFs. The categories described above are viewed as general guidelines and the scope of each category is interpreted broadly. As a result, a single ETF may be included in more than one category. Also, in some instances, the Index may select a broad U.S. equity market ETF instead of an ETF from one of the categories described above. Under normal circumstances, at least 80% of the Funds total assets (exclusive of collateral held from securities lending) will be invested in the component securities of the Index. The Fund will generally use a replication strategy to seek to achieve its investment objective, meaning the Fund will invest in all of the component securities of the Index in the same approximate proportions as in the Index, but may, when Empowered Funds, LLC dba EA Advisers (the Adviser) believes it is in the best interests of the Fund, use a representative sampling strategy, meaning the Fund may invest in a sample of the securities in the Index whose risk, return and other characteristics closely resemble the risk, return and other characteristics of the Index as a whole.
Up to 20% of the Funds assets may be held in cash and cash equivalents (including U.S. treasury bills), or in other ETFs not included in the Index but which the Adviser believes will help the Fund track the Index or as may be necessary for the Fund to comply with regulatory constraints (for example, potential limitations on investments in some underling ETFs). The Fund will be considered to be non-diversified, which means that it may invest more of its assets in the securities of a single issuer or a smaller number of issuers than if it were a diversified fund. The Index The Index seeks to determine whether U.S. equity markets appear to be in an advancing market (a Bull indicator) or appear to have an elevated risk of market decline (a Bear indicator). The Index uses a computer algorithm to make the assessment.
The Index will remain in a Bull mode (or a Bear mode), as the case may be, until the algorithm determines to shift from Bull to Bear (or vice versa). Shifts generally occur at calendar month end, but may occur mid-month if the algorithm anticipates significant market shifts. The Index uses a form of artificial intelligence that seeks to evolve and improve the selection of ETFs over time. A more detailed description of the Indexs methodology is provided below under the heading Additional Information About the Indices. As of September 30, 2022, the Index was weighted as follows: SPDR Portfolio Long Term Treasury ETF (30%), Vanguard Long-Term Treasury Index Fund (25%), iShares 7-10 Year Treasury Bond ETF (15%), SPDR Portfolio TIPS ETF (11.64%), iShares 20+ Year Treasury Bond ETF (10%), PIMCO Broad U.S.
TIPS Index Exchange-Traded Fund (8.36%).
WIZ Holdings
Top 8 holdings of Merlyn.AI Bull-Rider Bear-Fighter ETF by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Vaneck Vectors ETF Tr Semiconductor Et | 33.82% |
| Invesco Qqq Tr Unit Ser 1 | 14.57% |
| Wisdomtree Tr US Smallcap Fund | 9.96% |
| Ishares Russell 2000 Value Index Fund | 9.95% |
| Ishares Tr Asia 50 ETF | 9.88% |
| Vaneck Vectors ETF Tr Fallen Angel Hg | 9.59% |
| Dbx ETF Tr Xtrack USD High | 9.51% |
| First Amern Fds, Inc. | 0.65% |
WIZ Portfolio Allocation
Asset-class allocation of Merlyn.AI Bull-Rider Bear-Fighter ETF by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 97.3% |
| Cash & Equivalents | 0.7% |
WIZ Performance
Total returns for WIZ (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 2.4% |
| 3 years (annualised) | -2.7% |
WIZ Risk Information
Risk metrics for WIZ, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 13.6%
WIZ Costs and Fees
WIZ costs about $120 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.20%
- Gross expense ratio: 1.20%
- Portfolio turnover: 619%
- Brokerage commissions: 28.76 bps of average net assets (SEC N-CEN)
WIZ Cashflows
Over the 12 months to 2023-09, Merlyn.AI Bull-Rider Bear-Fighter ETF had net inflows of $158.06M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2023-09 | $16.48M |
| 2023-08 | $12.97M |
| 2023-07 | $18.27M |
| 2023-06 | $14.64M |
| 2023-05 | $10.89M |
| 2023-04 | $20.62M |
WIZ Debt Constituents
No individual debt constituents are reported in Merlyn.AI Bull-Rider Bear-Fighter ETF's latest SEC N-PORT filing.
WIZ Prospectus and SEC Filings
Official Merlyn.AI Bull-Rider Bear-Fighter ETF filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2023-01-30
- Prospectus (485BPOS) — filed 2022-01-28
- Prospectus (485BPOS) — filed 2021-02-09
- Portfolio holdings (N-PORT) — filed 2023-11-28
- Portfolio holdings (N-PORT) — filed 2023-08-29
- Portfolio holdings (N-PORT) — filed 2023-05-30
- Annual census (N-CEN) — filed 2023-12-14
- Annual census (N-CEN) — filed 2022-12-14
Related Funds
Other Inverse / Short funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.