VistaShares

This address is how we stay in touch with the professionals who follow our work.

VistaShares delivers innovative Liquid Alternative investment solutions for today's investors. VistaShares ETFs are actively managed by industry and investment experts, offering a number of distinct strategies. Supercycle® Growth Equity ETFs seek exposure to technology-driven economic Supercycles® that the adviser believes may offer long-term growth potential. Target 15® option-income ETFs seek to generate monthly income while complementing a core equity portfolio. Income is not guaranteed and will vary, and the Target 15® name refers to the strategy's objective rather than a guaranteed or promised return. Investing involves risk, including possible loss of principal. There is no guarantee that any investment objective will be achieved, and past performance does not guarantee future results.

Before you ask

Is this advice?

No. Nothing from this address is a recommendation to buy or sell anything, and nothing on this page is an offer. It is written for people who evaluate strategies for a living and it assumes they will do their own work.

Why did this arrive?

Because your firm evaluates strategies of the kind these notes are about. If that is wrong, saying so once is enough and the address at the top of this page is the fastest way to say it.

What sources are used?

Published fee schedules, distribution notices, fund reports and market data. Where something is an estimate it says so, and where a figure has a date attached the date travels with it.

How do I stop these?

Reply and say stop, or write to the address on this page. It covers every address at your firm we hold and it does not expire.

Who reads the reply?

A person at the firm, not an automated queue. A reply asking to stop is acted on either way, and a reply asking a question gets an answer written by somebody who can be held to it rather than a link to a brochure.

Whose address this is

vsharesstrategy.com belongs to VistaShares, and every message that comes from it is ours. What we publish is not kept here: it lives on our main website, vistashares.com.

If a message from vsharesstrategy.com reached you and you want to confirm it came from us, write to info@vsharesstrategy.com or call (844) 875-2288.

What the mail from here is about

Notes from this address are about what it costs to own something, counting the parts that do not appear on a fee schedule. The published expense is the easiest number to compare and it is rarely the largest one. Spreads, the cost of getting in and out, the tax character of what is distributed, and the drag of holding cash between decisions all arrive whether or not anybody totalled them.

The reason this is worth writing about at all is that the invisible costs move around far more than the visible one does. An expense ratio is the same in a calm month and a violent one. A spread is not, and neither is the cost of a rebalance carried out on a day when everybody else is rebalancing the same way.

Which makes the cheapest thing to hold and the cheapest thing to trade two different lists.

A position bought once and held for a decade should be judged mostly on the fee. One traded around a rule should be judged mostly on everything else, and the two are routinely compared as though they were the same question.

None of this argues for the cheapest thing available. It argues for knowing which costs a particular way of holding something will actually incur, and comparing like with like, which is harder than comparing two published numbers and is the only comparison that answers the question being asked.