Return stacking and portable alpha are no longer niche strategies — they're going mainstream.

In this episode, we cut through the noise and unpack the latest institutional survey data to separate hype from reality.

Corey Hoffstein, CEO & CIO of Newfound Research and Co-Founder & Portfolio Manager of the Return Stacked® ETF Suite, sits down with special guest Shane McCarthy, CFA, Global Head of the Client & Partner Group at LAB Quantitative Strategies, to go beyond the theory and into what the latest institutional survey data actually reveals about where portable alpha stands right now — and where it's headed.

What You Will Learn:

• Why portable alpha has expanded well beyond pensions — into endowments, OCIOs, family offices, and wealth channels — and what the latest survey data reveals about AUM growth in the space
• What allocators are actually optimizing for, and how survey data breaks down their primary objectives
• Which alpha sources are winning, how much overlay exposure institutions are taking, and why a single alpha source may not be enough
• The three implementation structures in use today, how fee and liquidity terms compare, and what beta instrument trade-offs matter most in practice

Don't miss the extended Q&A, where Corey and Shane go deep on instrument selection, alpha durability, illiquidity tolerance, and the nuances of overlay sizing.

In this special interview, Mike Philbrick explores the principles of systematic macro investing and the behavioral challenges investors face when attempting to diversify traditional portfolios. He explains how Return Stacking addresses the common funding dilemma by layering alternative strategies on top of a core stock-and-bond portfolio rather than replacing existing allocations. Using the Return Stacked® Global Balanced & Macro ETF (RGBM) as a framework, the discussion illustrates how this institutional-grade approach aims to improve portfolio construction—seeking true diversification and potentially higher risk-adjusted returns without requiring investors to abandon their core holdings.

Topics Discussed

1. Defining systematic macro as a data-driven, rules-based strategy across global assets.
2. The vulnerability of traditional 60/40 stock-bond portfolios to inflationary shocks.
3. The funding dilemma and behavioral challenges when adding alternatives by selling core assets.
4. Introducing Return Stacking to layer diversifying strategies on top of core holdings.
5. Applying the institutional concept of portable alpha to individual investor portfolios.
6. The mechanics of using a capital-efficient ETF to achieve greater than 100% exposure.
7. Reducing behavioral tracking error by preserving an investor's familiar core allocations.
8. The goal of outperforming underlying betas by having the stacked strategy beat its cost of financing.

Return Stacked® Global Balanced & Macro ETF (“RGBM” or the “ETF”) is an alternative mutual fund, as such, RGBM is permitted to invest in asset classes or use investment strategies that are not permitted for other types of mutual funds. RGBM uses leverage and derivative instruments to stack the returns of a global balanced strategy with those of a systematic macro strategy which can magnify gains and losses.

Past Performance is not a guarantee of future results.

Commissions, management fees, performance fees and operating expenses may all be associated with an investment in RGBM. The ETF is not guaranteed, its value changes frequently and past performance may not be repeated. The ETF Facts and prospectus contain important detailed information about the ETF. Please read the relevant documents before investing.

LongPoint Asset Management Inc. (“LongPoint”) is the Investment Fund Manager of RGBM.

ReSolve Asset Management Inc. (“ReSolve Canada”) is the Portfolio Manager of RGBM.

ReSolve Asset Management SEZC (Cayman) (“ReSolve Global”) is the Portfolio Sub-Advisor of RGBM.

Newfound Research LLC (“Newfound”) is a Co-Promotor of RGBM.