Spinnaker Trust has entered the exchange traded fund arena, rolling out two actively manage ETFs that cover large-cap equities and fixed-income to help investors build out their cores.
Spinnaker made its ETF debut with the actively managed Fieldstone Merlin Dynamic Large Cap Growth ETF (NYSEArca: FMDG) and Fieldstone/UVA Unconstrained Medium-Term Fixed Income ETF (NYSEArca: FFIU). FMDG has a 0.80% expense ratio and FFIU has a 0.50% expense ratio.
The Fieldstone Merlin Dynamic Large Cap Growth ETF tries to generate long-term capital appreciation through investing in large-cap growth securities similar to those found in the Russell 1000 Growth Index, which Merlin Capital believes have above average expected long-term earnings growth.
Merlin will select 25 large cap growth stocks with the most favorable growth opportunities by screening for above average return on equity compared to other large-cap firms, sustainable earnings growth hat will outpace the broader market and attractive price in comparison to its expected earnings growth.
Michael Obuchowski of Merlin Capital is FMDG’s portfolio manager who is primarily responsible for the day-to-day management of the Fund’s portfolio and has managed the Fund.