The Discipline Fund ETF (ticker: DSCF) is the first ever fully systematic, low fee, tax efficient, globally diversified fund of funds designed to help you behave better and stay the course. It achieves this by implementing an algorithmic countercyclical rebalancing strategy similar to the way John Bogle managed his own portfolio. This helps investors maintain a fully invested and more balanced stock/bond allocation by systematically reducing risk when valuations are unusually high and increasing risk when valuations normalize.
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1 – This fee is substantially lower than the average broad world allocation fund which has a fee of 0.81% according to Morningstar.
Further, according to Research Affiliates, the estimated tax liability of a mutual fund when compared to an ETF is 0.8% when adjusted for dividends.
The Fund’s investment adviser has contractually agreed to waive all or a portion of its management fee for the Fund until at least one year from the date of the Fund’s commencement of operations to the extent necessary to offset all Acquired Fund Fees and Expenses.