In this episode of Raise Your Average, Pierre Daillie sits down with Rodrigo Gordillo of ReSolve Asset Management and Corey Hoffstein of Newfound Research to discuss the game-changing concept of return stacking and the launch of the Return Stacked Global Balanced & Macro ETF (RGBM)—now listed on the Toronto Stock Exchange.

Discover how this capital-efficient and tax-efficient strategy allows investors and advisors to stack returns from systematic macro strategies on top of a traditional 60/40 portfolio—all without selling core assets.

Packed with institutional insights, behavioral solutions, and a dose of ETF innovation, this conversation reveals how ReturnStacked® ETFs is democratizing strategies once exclusive to pension funds and hedge funds.

⏱️ Chapters (Timestamps)

0:00 - Intro: Why diversification doesn’t need to mean sacrifice

2:52 - Genesis of Return Stacking: Portable alpha reborn

6:45 - Institutional proof: The Delta Pension Plan case study

11:50 - Solving line item risk & behavioral drag

14:35 - "A spoonful of sugar helps the diversification go down."

17:30 - Kitchen vs. Solarium: Pierre’s investing metaphor

20:00 - Defensive leverage vs. LICE (Leverage that's Illiquid, Concentrated, Excessive)

22:30 - Inside RGBM: Structure & allocation explained

26:00 - Three implementation strategies for RGBM

32:00 - Why use RGBM as a return enhancer

36:00 - "Why are we playing the game on hard mode?"

41:30 - Systematic macro: strategy, structure, and why now

47:50 - The power of long-term structural un-correlation

52:00 - Return stacking vs. alpha chasing in equity markets

58:00 - Triple Alpha: Strategy Alpha, Structural Alpha, Tax Alpha

1:00:00 - Closing thoughts & how to learn more

🔗 Resources & Links

📘 Learn more about RGBM ETF

📚 Explore the Systematic Macro Research library

📰 Read more from ReSolve Asset Management

🧠 Newfound Research insights

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