Holdings are reported at best on a monthly basis, there is no way you can successfully copy a rotational investment vehicle using out of date data. Of course we don't even know if anyone would want to copy this at this point.This is an interesting concept. I think we'll start seeing more of these actively managed ETFs in the future.
What do people think about the inclusion of a performance fee (20% over High Water Mark & 5% annualized hurdle rate)? The incentive to outperform is there while the high water mark should keep them from taking on excessive risk.
After taking a second look, it looks like it will be made up primarily of other ETFs. If the information is available, another idea could be to look at their top holdings and buy those ETFs yourself to save on fees.
In reality just another in the long and ever growing line of investment gimmicks in the desperate attempt to drum up business in the absurdly bloated investment marketplace. Though you do need to give props to the more intriguing ideas.