Dana Investment Advisors, an asset manager with over $9.5 billion under advisement, has entered the ETF space with the introduction of its first two ETFs in collaboration with Tidal Financial Group, which will serve as the investment adviser, providing operational and growth assistance as Dana expands its presence in the ETF arena.
The company launched the Dana Unconstrained Equity ETF (NYSE:DUNK) and the Dana Concentrated Dividend ETF (NYSE:DIVE), representing an expansion from its established separately managed accounts and mutual funds into the rapidly expanding ETF market.
Though the ETFs are new, both strategies have been managed in an isolated account form for more than five years, affording the funds a record of performance that dates back prior to their ETF packaging.
With an adjusted expense ratio of 0.750%, DUNK will aim at long-term growth through investment in 15 to 30 U.S.-listed stocks related to disruptive trends like artificial intelligence, cloud computing, biotech, and electric vehicles. Living up to its name, the fund adopts an unconstrained strategy, unencumbered by sector or style biases, although with a large-cap bias.
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DIVE, meanwhile, aims to balance income with growth, holding 25 to 35 dividend-paying stocks (about 80% of its net assets) with market caps of $10 billion or more, across sectors. Like DUNK, it will primarily lean on large-cap companies with strong fundamentals and consistent payout potential. The adjusted expense ratio of the fund is 0.650%.
To investors, the debuts introduce new competition to two popular ETF themes: growth-themed thematic strategies and dividend-themed equity products—both of which have attracted increased interest in 2025.
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