I am thrilled to announce the first day of trading of the Discipline Fund ETF on the New York Stock Exchange under the ticker DSCF. Discipline Funds is a new company that I’ve formed in 2021 to serve as the fund management arm of my investment advisory firm, Orcam Financial Group, LLC.
We’ve partnered with the NYSE and Wes Gray at Alpha Architect to make this happen. These are incredible partners. You have no idea. Well, maybe you do. Anyone who knows the NYSE knows, well, it’s the NYSE. And anyone who knows Wes Gray and his team at Alpha Architect know that they’re the best of the best. Wes bleeds integrity, knowledge, and trust. You won’t meet a better person in your life. I am so grateful to have him and his team on our side.
I’ve wanted to start a publicly traded fund for a long time, but I wanted it to be perfect. I wanted it to reflect all the things I really believe in. You know my mantra – low fees, diversification, simplicity, tax efficiency and discipline-based investing. The Discipline Fund is the summation of all these ideas. It’s not perfect. No investment product ever will be. But it fills a void in the asset management space that I believe is significant.
My experience as a financial advisor and investment manager over the years has led me to believe that there is a sharp divide between the way investment managers sell asset management products and the way investors experience investment risk across time. Most investment products sell the hope of market beating returns in exchange for the guarantee of high fees. This is too often at odds with a sound financial planning-based approach to asset allocation.
But you know my approach – I approach everything from the idea that we’re literally allocating our savings. “Beating the market” isn’t even a financial goal for most people. So the pursuit of market beating returns ends up creating more conflicts than anything else. And that’s why indexing has become so popular over the last decade. But even the index products are lacking. Most of them are a menu of individual asset classes that we end up having to mish mash together. Why give me a menu of options when what we really need is a prepackaged plan that meets most of our needs in a simple and diverse package? More importantly, why not give me a prepackaged option that is consistent with trying to solve the temptations and behavioral biases that can consistently knock me off course? That’s what the Discipline Fund solves. It is a single low fee, tax efficient, global stock/bond portfolio with a built in countercyclical rebalancing algorithm that quantifies risk the way you actually perceive it over the course of the market cycle. It’s literally a fund that will try to help you stay disciplined through all the ups and downs of the market.
I’ll let you poke around the disciplinefunds.com website if you have questions. I think the FAQ page will cover most of the big questions people might have, but I am more than happy to discuss this with you. I believe in this fund and I plan to make a significant personal allocation today and in perpetuity. And I hope that we are able to scale, bring costs down even more and help improve an industry that has needed improvement for too long. I hope you’ll join me in this journey.
If I can help you in any way please don’t hesitate to reach out.
Past performance does not guarantee future results. The fund’s investment objectives, risks, charges and expenses must be considered carefully before investing. The statutory and summary prospectus contains this and other important information about the investment company, and it may be obtained once available by calling 215-882-9983 or visiting www.disciplinefunds.com/dscf. Read it carefully before investing.
Investments involve risk. Principal loss is possible. The Disciple Fund ETF has the same risks as the underlying securities traded on the exchange throughout the day. Unlike mutual funds, ETFs may trade at a premium or discount to their net asset value. Investments in foreign securities involve political, economic, and currency risks, greater volatility and differences in accounting methods. These risks are magnified in emerging markets. The Discipline Fund is inherently “countercyclical” and may underperform its benchmark for long periods of time.
Frontier Markets Risk. Compared to foreign developed and emerging markets, investing in frontier markets may involve heightened volatility. Fund of Funds Risk. Because it invests primarily in other funds, the Fund’s investment performance largely depends on the investment performance of the selected underlying exchange-traded funds (ETFs). New Fund Risk. The Fund is a recently organized management investment company with limited operating history. There can be no assurance that the Fund will grow to or maintain an economically viable size.
This material has been distributed for informational purposes only and should not be considered as investment advice or a recommendation of any particular security, strategy or investment product.
Information contained herein has been obtained from sources believed to be reliable, but not guaranteed. No part of this material may be reproduced in any form, or referred to in any other publication, without express written permission. References to other funds should not be interpreted as an offer of these securities.
The Funds sub-advisor is Orcam Financial Group, LLC, doing business as Discipline Funds.
The Fund is distributed by Quasar Distributors, LLC. The fund’s investment advisor is Empowered Funds LLC, doing business as Alpha Architect.
Mr. Roche is the Founder and Chief Investment Officer of Discipline Funds.Discipline Funds is a low fee financial advisory firm with a focus on helping people be more disciplined with their finances.
He is also the author of Pragmatic Capitalism: What Every Investor Needs to Understand About Money and Finance, Understanding the Modern Monetary System and Understanding Modern Portfolio Construction.