Faber told the Journal the new ETF could cost the firm $100,000 per year, but added that could take just a month or two before Cambria starts breaking even on the fund. The Journal reports that Cambria will make some money on GAA off the bat because the new ETF will allocate 9% of its weight to three Cambria’s four currently existing ETFs.

Those actively managed products include the Cambria Shareholder Yield ETF (NYSEArca: SYLD), Cambria Foreign Shareholder Yield ETF (NYSEArca: FYLD), Cambria Global Value ETF (NYSEArca: GVAL) and the newly minted Cambria Global Momentum ETF (NYSEArca: GMOM).

GAA is not Cambria’s first foray into the ETF of ETFs structure. GMOM, which debuted in early November, holds 17 ETFs, mostly from iShares and Vanguard, “which represent the top 33% of a universe of approximately 50 ETFs. The holdings are selected on measures of trailing momentum and trend. By sorting through a basket of domestic and foreign stocks, bonds, real estate, commodities and currencies, the strategy targets aggressive returns while still managing risk and volatility,” according to Cambria.

ETF Trends editorial team contributed to this post.