ETF Evaluator: Return Stacked Bonds & Mrg Arbtrg ETF () Follow This ETF

Return Stacked Bonds & Mrg Arbtrg ETF Overview

Return Stacked Bonds & Mrg Arbtrg ETF (RSBA) is a passively managed Alternative Multi-Asset Overlay exchange-traded fund (ETF). Return stacked ETFs launched the ETF in 2024.

The investment seeks long-term capital appreciation. The fund is an exchange-traded fund (“ETF”) that employs a hybrid management approach to achieve its investment objective by investing in two complementary strategies: an actively managed Bond strategy and a passively managed Merger Arbitrage strategy. Under normal circumstances, the fund will invest at least 80% of its net assets, plus borrowings for investment purposes, in (a) the Bond strategy and (b) the Merger Arbitrage strategy. The fund is non-diversified.

About Return Stacked Bonds & Mrg Arbtrg ETF (RSBA)

There are 4 members of the management team with an average tenure of 0.94 years: Corey Hoffstein (2024), Andrew Butler (2026), Christopher Mullen (2024) and Stephen Foy (2026). Management tenure is more important for actively managed ETFs than passive index ETFs.

The ETF has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100% and Bloomberg US Treasury Bills TR USD index with a weighting of 100%. Return Stacked Bonds & Mrg Arbtrg ETF has 22 securities in its portfolio. The top 10 holdings constitute 178.7% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.

Return Stacked Bonds & Mrg Arbtrg ETF is part of the Alternative Strategies global asset class and is within the Alternative ETF group. Return Stacked Bonds & Mrg Arbtrg ETF has -4.8% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 77.0% There is -4.8% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 98.1% (98.1% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Return Stacked Bonds & Mrg Arbtrg ETF has -81.2% of the portfolio in cash.

Assets Under Management

The fund has $52 million in total assets, which is below the $225 million average for the Multi-Asset Overlay category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.

RSBA Performance and Fees

The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Return Stacked Bonds & Mrg Arbtrg ETF expense ratio is high compared to funds in the Multi-Asset Overlay category. Return Stacked Bonds & Mrg Arbtrg ETF has an expense ratio of 1.01%, which is 42% higher than its category average, making the fund expense ratio grade a F. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.

High portfolio turnover can translate to higher expenses and lower aftertax returns. Return Stacked Bonds & Mrg Arbtrg ETF has a portfolio turnover rate of 305%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 86% for the Multi-Asset Overlay category.

Recently, in the month of July 2026, Return Stacked Bonds & Mrg Arbtrg ETF returned -2.1%, which earned it a grade of F, as the Multi-Asset Overlay category had an average return of -0.7%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.

Return Stacked Bonds & Mrg Arbtrg ETF has a trailing yield of 2.87%, which is above the 2.20% category average. The fund normally distributes its income annually and its capital gains annually.

It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.

Return Stacked Bonds & Mrg Arbtrg ETF Grades

Year to date, the ETF has returned -1.2%, 7.7 percentage points worse than the category, which translates into a grade of D. The fund has returned 2.0% over the past year (grade of F).

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