Twin Oak Short Horizon Absolute Return ETF (TOAK) Research

The Twin Oak Short Horizon Absolute Return ETF (TOAK) endeavors to achieve capital growth while maintaining reduced price fluctuations. Its portfolio undergoes active management, utilizing defined risk options that possess a short-term maturity, typically ranging from zero to one year. These "defined risk options" are characterized by a maximum potential loss that does not exceed the initial premium invested during their expiration period. To further reduce risk, the fund implements an option position pairing strategy. Notably, TOAK does not engage in leverage or the practice of writing naked options. The option contracts employed may include exchange-listed, over-the-counter (OTC), or customized FLEX options. It is important for investors to recognize that the use of OTC options introduces counterparty risk. Based on their assessment of prevailing economic and market conditions, as well as existing holdings, the portfolio managers may choose to invest in long calls, long puts, debit spreads, or a combination of these approaches. When selecting positions for the portfolio, TOAK's managers meticulously consider factors such as price, liquidity, duration, and overall risk.

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