Another "smart beta" ETF has gone live. In October 2019, GraniteShares launched its XOUT U.S. Large Cap fund (XOUT). The new product crossed my radar after founders Will Rhind and David Barse appeared on the Animal Spirits podcast, in early December.
The ETF's investment approach is simple on the surface and, to an extent, pretty intuitive: to eliminate the "losers" among the 500 largest U.S. stocks and hold only the top 250 stocks that fare best within a fundamentals-based set of criteria that include revenue growth, employee growth, reinvestment in company stock,