A two-year-old, Constitution State startup's team is rolling out their fifth ETF.

Last week, the NEOS Investment Management, LLC [profile] team launched the NEOS Russell 2000 High Income ETF (IWMI on the Cboe BZX Exchange, Inc.). The new, actively managed fund is a series of the NEOS ETF Trust.

IWMI's inception date was June 25, and it comes with an expense ratio of 68 basis points. As of Wednesday, July 3, it had about $3 million in AUM.

NEOS serves as IWMI's investment advisor. Troy Cates and Garrett Paolella, both managing partners at NEOS, PM the new ETF.

The new fund's strategy involves two pieces: first, investing in other ETFs that track the Russell 2000 index; and two, investing in call options on that index.

IWMI's other service providers include: Cohen & Company, Ltd. as independent accounting firm; Foreside Fund Services, LLC as distributor; Thompson Hine LLP as counsel; U.S. Bancorp Fund Services, LLC as administrator and transfer agent; and U.S. Bank, N.A. as custodian. 

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