Alternative Investments/ESG: AXS Investments Continues Acquisition Spree, Acquires Six Tuttle ETFs

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The $334 million Tuttle Capital Short Innovation ETF, the inverse bet against Cathie Wood’s flagship ARK Innovation ETF, is the largest of the Tuttle funds.

AXS Investments, a leading asset management firm providing investment opportunities in the alternatives space, has acquired a suite of ETFs from Tuttle Capital Management. The six ETFs together have assets under management of $417 million and include the $334 million Tuttle Capital Short Innovation ETF (NASDAQ: SARK), the inverse bet against Cathie Wood’s flagship ARK Innovation ETF (NYSEARCA: ARKK). (ETF.com)

Tuttle Capital Management

Initially envisaged as a partnership on new issues, the deal morphed in December into an acquisition. However, as part of a broader distribution tie-up between the two firms, Tuttle would bring to the table its retail investors and AXS its advisor network. Additionally, Tuttle CEO Matthew Tuttle will join AXS in charge of capital markets and trading.

“The Tuttle family of funds really fits in very well with our approach to non-traditional alternative exposures for individuals,” said AXS CEO Greg Bassuk in an interview.

AXS Change Finance ESG ETF

This latest transaction by AXS follows on the heels of its acquisition last month of the industry’s first-ever certified carbon-neutral ETF, the AXS Change Finance ESG ETF (NYSEARCA: CHGX) with assets of $120 million. CHGX is a core ESG-focused equity portfolio holding with an underlying methodology that uses traditional ESG measures along with 125 specific criteria to identify companies that have a positive impact on key sustainability metrics, such as land, water, air, biodiversity, people, and ethics.

“We are building a fund family that has some of the most robust ESG and sustainability standards in the industry, reflective in funds like CHGX,” said Mr. Bassuk at the time.

AXS Astoria Inflation Sensitive ETF

At the end of 2021, AXS launched the AXS Astoria Inflation Sensitive ETF (NYSEARCA: PPI), which provides investors with an innovative, one-stop inflation strategy that seeks to hedge against inflation and generate appreciation through inflation-sensitive investments.

The ETF received a strong response from investors, collecting over $50 million in assets within a mere 50 days of its launch.

Related Story: New ETF From Tuttle Capital Bets Against Cathie Wood And Ark

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