Continue to site >
Trending ETFs
You have successfully subscribed to Advisor Access. Thank you!
Help us personalize your experience.
Which type of investor describes you best?
Help us personalize your experience.
What is your AUM?
Knowing your investable assets will help us build and prioritize features that will suit your investment needs.

Congratulations on personalizing your experience.

Email is verified. Thank you!

Name

As of 06/01/2026

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

MRBL Enhanced Equity ETF

EDGE | Active ETF

$49.59

$6.4 M

0.00%

0.74%

Vitals

YTD Return

9.2%

1 yr return

29.8%

3 Yr Avg Return

N/A

5 Yr Avg Return

N/A

Net Assets

$6.4 M

Holdings in Top 10

100.1%

52 WEEK LOW AND HIGH

$49.5
$38.28
$49.59

Expenses

OPERATING FEES

Expense Ratio 0.74%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A

Min Investment

Standard (Taxable)

N/A

IRA

N/A

Fund Classification

Fund Type

Exchange Traded Fund

Name

As of 06/01/2026

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

MRBL Enhanced Equity ETF

EDGE | Active ETF

$49.59

$6.4 M

0.00%

0.74%

EDGE - Profile

Distributions

  • YTD Total Return 9.2%
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio N/A
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    MRBL Enhanced Equity ETF
  • Fund Family Name
    N/A
  • Inception Date
    Jan 22, 2025
  • Shares Outstanding
    N/A
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US

Fund Description

The Fund is an actively managed, exchange-traded fund (“ETF”) that seeks up to 150% long exposure to large-capitalization U.S. equity securities, while enhancing the Fund’s income by writing (selling) call options on one or more ETFs or securities indices that provide exposure to large-capitalization U.S. equity securities.
Under normal circumstances, the Fund will invest at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities and derivative instruments that provide exposure to equity securities. To gain this exposure, the Fund will primarily invest in one or more ETFs or options on an ETF or index (each, a “reference asset”). The combination of the Fund’s investments is expected to provide a maximum of 150% exposure to large-capitalization U.S. equity securities. The Fund will use leverage, such as options, which generally require a small investment relative to the amount of investment exposure assumed. The Fund’s exposures will vary given market conditions and the availability of attractive investment opportunities.
Empowered Funds, LLC, dba EA Advisers (the “Adviser”), serves as the investment adviser to the Fund. The Adviser oversees the day-to-day affairs of the Fund and supervises the Fund’s two sub-advisers. MRBL Management, LLC (“MRBL”) serves as a sub-adviser to the Fund and is responsible for determining the Fund’s investments. Arin Risk Advisors, LLC (“Arin”) also serves as a sub-adviser to the Fund and is responsible for selecting the Fund’s options investments and broker-dealers to execute the Fund’s transactions based on instructions provided by MRBL.
To gain synthetic equity exposure, the Fund may invest in European style call options (“European Calls”) or European style combos (“European Combos”). European Calls give the option holder the right to buy a reference asset only on the option expiration date. European Combos are a combination of option transactions whereby the Fund would purchase a call option and sell a put option with the same strike price and expiration date on the same reference asset. The European Calls and European Combos strategies benefit when the reference asset’s price rises over time. Similarly, the European Calls and European Combos strategies are expected to experience losses when the reference asset’s price falls over time.
The Fund may also buy or sell either standard exchange-listed call options, FLexible EXchange® Options (“FLEX Options”), or a combination of both listed options types on a reference asset. A call option gives the purchaser the right to purchase the reference asset at a specified strike price prior to a specified expiration date. The purchaser pays a cost (premium) to purchase the call option. In the event the reference asset appreciates in value, the value of the call option will generally increase, and in the event the reference asset declines in value, the call option may expire worthless and the entire premium may be lost.
The Fund’s gains and losses on a reference asset will generally increase or decrease in line with the applicable reference asset’s price. The Fund’s use of leverage will also magnify the gains and losses on the Fund’s investments in proportion to the amount of the Fund’s leverage.
The Fund will also “write” or sell short-term call options on its exposure (of up to 150% of the Fund’s net assets) to the reference assets. The Fund generally considers an option to be “short-term” when its expiration date is less than 90 days from the date such option is written (sold). A written (sold) call option obligates the seller of the option to sell the reference asset at a strike price until the expiration date. The writer (seller) of the call option receives an amount (premium) for writing (selling) the option. The call writing strategy will have different outcomes based on the performance of the reference asset, the amount of leverage in the Fund’s portfolio and the amount of the call option premium, as follows:
•If the reference asset increases in value but the increase is less than the strike price at the option expiration date, the options will expire worthless, and the Fund will keep the option premium received. The Fund will experience a gain on the reference asset that is leveraged to approximately the same extent as the Fund’s portfolio. This would result in the portfolio outperforming the reference asset because the Fund will receive the option premium and will participate in the leveraged gain on the reference asset.
•If the reference asset increases in value above the strike price and the option is exercised, the Fund will keep the option premium received and will experience leveraged gains up to the strike price, but will not participate in the reference asset’s appreciation beyond the strike price, which can cause the Fund to underperform the reference asset. In these circumstances, the Fund would have to pay the difference between the value of the reference asset and the strike price on the option expiration date or deliver the reference asset (which amount is offset by the option premium initially received). This circumstance limits the Fund’s ability to fully participate in any increase in the reference asset’s value above the strike price. This means that the Fund can underperform the reference asset when the reference asset has increased in value.
•If the reference asset decreases in value, excluding the effect of leverage, in an amount that is less than the option premium received, the Fund will experience a smaller amount of underperformance as compared to the reference asset due to the option premium received. This can result in the Fund outperforming the return on the reference asset. However, if the Fund is using leverage at the time when the reference asset declines, the Fund will lose more value than the reference asset in proportion to the amount of the leverage in the Fund’s portfolio.
•If the reference asset decreases in value in an amount that is greater than the option premium received, the Fund will experience losses that are in proportion to the amount of leverage in the Fund’s portfolio. The option premium will partially offset this loss. Losses in this case would be magnified by the amount of the Fund’s leverage, which will result in the Fund underperforming the reference asset.
The level of a reference asset’s option premium that is received from writing short-term call options will increase or decrease based on the reference asset’s projected or implied volatility (e.g., a reference asset characterized by low volatility will yield a commensurately low level of option premium, whereas a highly volatile reference asset will generate a higher level of option premium).
The Fund will utilize a traditional covered call strategy, which is an investment strategy where the Fund sells a call option in direct proportion to the amount of the underlying security owned by the Fund. The Fund may also utilize a synthetic covered call strategy (i.e., through the use of European Calls and European Combos), whereby the Fund sells a call option on an underlying security to which the Fund has synthetic exposure but does not directly own the security.
The Fund may also maintain a collateral portfolio that is designed primarily to serve as margin or collateral for the Fund’s options positions. Secondarily, the collateral may serve to enhance the Fund’s return by generating returns subject to short-term interest rate risk (the “Collateral Portfolio”). The Collateral Portfolio is comprised of cash or cash equivalents, including United States Treasury Securities, money-market instruments, money-market mutual funds, or box spreads. Approximately 30-50% of the Fund’s assets are expected to be allocated to the Collateral Portfolio.
A box spread is a multi-leg, risk-defined, equity market neutral options strategy with defined profit potential, if held to expiration. There are four options trades involved in a long box spread: (i) a long call with a lower strike price, (ii) a short call with a higher strike price; (iii) a long put with a higher strike price; and (iv) a short put with a lower strike price (a “Box Spread”). The goal is to buy the box spread for a price that is less than the width of the strike prices. Box spreads are subject to interest rate and liquidity risk even though equity market risk is generally neutralized.
For example, if a stock is trading at $50, a $45 call is purchased, and a $55 call is sold. Simultaneously, a $55 put is purchased, and a $45 put is sold. Thus, a $10 wide long box spread is created around the stock. If the box spread can be purchased for $9.50, a profit of $0.50 is anticipated regardless of the value of the stock at expiration, because the spread will be valued at $10 at expiration, regardless of where the reference asset is trading.
The Fund is “non-diversified,” meaning that a relatively high percentage of its assets may be invested in a limited number of issuers of securities.
Read More

EDGE - Performance

Return Ranking - Trailing

Period EDGE Return Category Return Low Category Return High Rank in Category (%)
YTD 9.2% N/A N/A N/A
1 Yr 29.8% N/A N/A N/A
3 Yr N/A* N/A N/A N/A
5 Yr N/A* N/A N/A N/A
10 Yr N/A* N/A N/A N/A

* Annualized

Return Ranking - Calendar

Period EDGE Return Category Return Low Category Return High Rank in Category (%)
2025 N/A N/A N/A N/A
2024 N/A N/A N/A N/A
2023 N/A N/A N/A N/A
2022 N/A N/A N/A N/A
2021 N/A N/A N/A N/A

Total Return Ranking - Trailing

Period EDGE Return Category Return Low Category Return High Rank in Category (%)
YTD 9.2% N/A N/A N/A
1 Yr 29.8% N/A N/A N/A
3 Yr N/A* N/A N/A N/A
5 Yr N/A* N/A N/A N/A
10 Yr N/A* N/A N/A N/A

* Annualized

Total Return Ranking - Calendar

Period EDGE Return Category Return Low Category Return High Rank in Category (%)
2025 N/A N/A N/A N/A
2024 N/A N/A N/A N/A
2023 N/A N/A N/A N/A
2022 N/A N/A N/A N/A
2021 N/A N/A N/A N/A

EDGE - Holdings

Concentration Analysis

EDGE Category Low Category High EDGE % Rank
Net Assets 6.4 M N/A N/A N/A
Number of Holdings 9 N/A N/A N/A
Net Assets in Top 10 6.43 M N/A N/A N/A
Weighting of Top 10 100.05% N/A N/A N/A

Top 10 Holdings

  1. SPY 03/20/2026 203.01 C 87.77%
  2. SPY 03/20/2026 10010.01 P 14.48%
  3. First American Government Obligations Fund 3.17%
  4. SPY 03/20/2026 10.01 C 1.05%
  5. SPY 03/20/2026 10010.01 C 0.00%
  6. SPY 03/20/2026 10.01 P 0.00%
  7. XSP 03/20/2026 706.01 C -0.03%
  8. SPX 03/20/2026 7060.01 C -0.35%
  9. SPY 03/20/2026 200.01 C -6.04%

Asset Allocation

Weighting Return Low Return High EDGE % Rank
Other 		96.88% N/A N/A N/A
Cash 		3.17% N/A N/A N/A
Stocks 		0.00% N/A N/A N/A
Preferred Stocks 		0.00% N/A N/A N/A
Convertible Bonds 		0.00% N/A N/A N/A
Bonds 		0.00% N/A N/A N/A

EDGE - Expenses

Operational Fees

EDGE Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.74% N/A N/A N/A
Management Fee 0.74% N/A N/A N/A
12b-1 Fee N/A N/A N/A N/A
Administrative Fee N/A N/A N/A N/A

Sales Fees

EDGE Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A N/A N/A N/A
Deferred Load N/A N/A N/A N/A

Trading Fees

EDGE Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A N/A N/A N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

EDGE Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A N/A N/A N/A

EDGE - Distributions

Dividend Yield Analysis

EDGE Category Low Category High EDGE % Rank
Dividend Yield 0.00% N/A N/A N/A

Dividend Distribution Analysis

EDGE Category Low Category High Category Mod
Dividend Distribution Frequency Annual

Net Income Ratio Analysis

EDGE Category Low Category High EDGE % Rank
Net Income Ratio N/A N/A N/A N/A

Capital Gain Distribution Analysis

EDGE Category Low Category High Capital Mode
Capital Gain Distribution Frequency

Distributions History

View More +

EDGE - Fund Manager Analysis

Tenure Analysis

Category Low Category High Category Average Category Mode
N/A N/A N/A N/A

Advertisement

×

Wait! Do you know all the important aspects of mutual funds?

×

Free Advisor Access newsletter emailed to you.

Receive free and exclusive email updates for financial advisors about best performers, news, CE accredited webcasts and more.

Sign up for Advisor Access

Receive email updates about best performers, news, CE accredited webcasts and more.

Disclaimer: By registering, you agree to share your data with MutualFunds.com and opt-in to receiving occasional communications about projects and events. The contents of this form are subject to the MutualFunds.com Privacy Policy. You can unsubscribe at any time.