Key Takeaways
- • Synera Funds launched the Synera Funds Takumi+ ETF (ticker SMTJ) on the NYSE Arca on October 7, 2026, offering an actively managed, Japanese equities-focused strategy in ETF format.
- • The ETF combines Sumitomo Mitsui Trust Asset Management Americas' Japanese equity selection with Millburn Ridgefield's systematic futures overlay, which is intended to generate uncorrelated returns and mitigate downside risk.
- • SMTJ carries a gross expense ratio of 2.01% and a net expense ratio of 0.86% after waivers, with the adviser contractually agreeing to waive fees and/or pay expenses through December 31, 2027.
- • Millburn Ridgefield manages more than $14 billion as of October 1, 2026, and SuMi TRUST's parent manages $757 billion as of August 31, 2026, while Twin Oak ETF Company, the organizer, manages $1.1 billion as of September 30, 2026.
Summary
Synera Funds announced on October 7, 2026 the launch of the Synera Funds Takumi+ ETF (Ticker: SMTJ) on the NYSE Arca, according to a PRNewswire release distributed by Twin Oak ETF Company. The fund is designed to provide access to an actively managed Japanese equities strategy in an ETF structure. It seeks capital appreciation through investment theme screening and bottom-up, fundamentally driven Japanese equity selection, and adds a systematic futures overlay intended to generate complementary, uncorrelated returns and downside risk mitigation across global markets and asset classes without additional capital allocation.
Synera Funds argues that Japan is undergoing a structural shift toward higher nominal growth, improved capital efficiency and stronger corporate governance. The firm cites a growing focus on return on equity, balance-sheet optimization and shareholder returns, alongside rising wages and normalizing inflation supporting domestic demand, as well as attractive relative valuations and Japan's leadership in automation, technology and advanced manufacturing.
The ETF brings together three specialists. Sumitomo Mitsui Trust Asset Management Americas, Inc. serves as Model Sub-Adviser for the Japanese equity strategy. Millburn Ridgefield LLC serves as Investment Adviser, supervising the entire portfolio and managing the systematic futures overlay. Twin Oak ETF Company serves as organizer and operations and distribution partner. Yusuke Karube, President and CEO of Sumitomo Mitsui Trust Asset Management Americas, said the fund offers a transparent, efficient way to access Japanese equities. Barry Goodman, co-CEO and Executive Director of Trading at Millburn, said the systematic managed futures approach, which the firm has refined for more than 55 years, offers potential risk mitigation, including lower volatility. Zach Wainwright, Founder and CEO of Twin Oak, described active ETFs as an increasingly important vehicle for active management.
The fund is a series of The RBB Fund Trust, an SEC-registered investment company structured as a regulated investment company. It provides continuous intraday liquidity through its exchange listing. The gross expense ratio is 2.01% and the net expense ratio is 0.86% after waivers; the adviser has contractually agreed to waive management fees and/or pay fund expenses until at least December 31, 2027. The fund is distributed by Quasar Distributors, LLC. The release notes the fund is recently organized with no operating history, and ETFs may trade above or below net asset value.
Synera Funds argues that Japan is undergoing a structural shift toward higher nominal growth, improved capital efficiency and stronger corporate governance. The firm cites a growing focus on return on equity, balance-sheet optimization and shareholder returns, alongside rising wages and normalizing inflation supporting domestic demand, as well as attractive relative valuations and Japan's leadership in automation, technology and advanced manufacturing.
The ETF brings together three specialists. Sumitomo Mitsui Trust Asset Management Americas, Inc. serves as Model Sub-Adviser for the Japanese equity strategy. Millburn Ridgefield LLC serves as Investment Adviser, supervising the entire portfolio and managing the systematic futures overlay. Twin Oak ETF Company serves as organizer and operations and distribution partner. Yusuke Karube, President and CEO of Sumitomo Mitsui Trust Asset Management Americas, said the fund offers a transparent, efficient way to access Japanese equities. Barry Goodman, co-CEO and Executive Director of Trading at Millburn, said the systematic managed futures approach, which the firm has refined for more than 55 years, offers potential risk mitigation, including lower volatility. Zach Wainwright, Founder and CEO of Twin Oak, described active ETFs as an increasingly important vehicle for active management.
The fund is a series of The RBB Fund Trust, an SEC-registered investment company structured as a regulated investment company. It provides continuous intraday liquidity through its exchange listing. The gross expense ratio is 2.01% and the net expense ratio is 0.86% after waivers; the adviser has contractually agreed to waive management fees and/or pay fund expenses until at least December 31, 2027. The fund is distributed by Quasar Distributors, LLC. The release notes the fund is recently organized with no operating history, and ETFs may trade above or below net asset value.
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