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Access ETF Solutions LLC in conjunction with INDXX LLC developed the Restaurant Leaders INDXX Index. As the owner, Access ETF Solutions is the index provider and INDXX is the calculation agent. The index was licensed to USCF Advisers LLC which is the owner and issuer of the Restaurant Leaders ETF (MENU).

Dan Weiskopf is the Managing Director of Access ETF Solutions and a Wealth Advisor with Investment Planners, Inc. Mr. Weiskopf has over 25 years of experience on Wall Street including 10 years as an ETF Strategist and Portfolio Manager. He has a Series 7 and a series 63 license.

The author of the industry-recognized 2010 report “Driving Alpha through Structural Differences,” Mr. Weiskopf served as a Senior ETF Strategist at Forefront Global ETF Strategies and a Vice President in the Portfolio Management Program (PMP) at UBS Wealth Management.

Prior to that, he founded MH CApital Partners LLC. Earlier in his career, he also served in senior analytical roles at American Diversified Enterprises, an affiliate of Allen & Company.

INDXX LLC worked with Access on the construction of the index and the back test model. As the calculation agent INDXX is responsible for maintaining the calculation, dissemination and administration of third party venders.

Investment Case

Setting The Table For Sustainable Growth Include:

  • Revenues for the restaurant companies in the United States make up a giant industry at about 4% of U.S. GDP. According to the National Restaurant Association (NRA), revenues are forecasted to reach $782.7 Billion in 2016, up about 5% year over year, and has grown almost $200 Billion from $586.7 Billion in 2010The NRA projects that industry employment is at over 14.4 million people, serves about 50 million people each day and both numbers are projected to increase.

  • The NRA projects that industry employment is at over 14.4 million people, serves about 50 million people each day and both numbers are projected to increase.
  • The restaurant industry can be divided into two categories: Quick Serve (QSR) and Full Service (FSR). These two service models deliver a very different customer value proposition and experience which in the QSR category have been driven by a technology platform that we refer to as “Smart Menu”. This platform as a tool has enabled many franchisors in the QSR category to re-franchise and attract large well capitalized sophisticated multi-unit owners who see the benefits of the technology integration. Successful QSR franchisors, who derive over 90% of their revenues from royalties, today are better positioned for growth than ever before.

The Ingredients For Success Include Strong Business Fundamentals:

  • The 3 growth factor model of expanding revenues by (1) increasing store count, (2) same store sales increases, and (3) increased price has led to many QSR companies having high gross margins, steady growth and low capital expenditure requirementsThe 3 factor growth model leads to high gross margins, steady growth and low capital expenditure requirements.

  • The QSR royalty model is a leverageable and scalable business model. The cash flow growth from this business strategy provides for high return on capital and substantial shareholder capital returns in the form of buybacks and dividend growth. 

  • Secular growth from demographic trends should drive long term growth.

  • Iconic brands with tremendous international growth opportunities.

The Index Methodology Is The Right Recipe:

  • The Restaurant Leaders INDXX Index methodology is 70% weighted towards QSR, due to research completed on how this refocused category is growing revenues.
  • Minimum market cap of $300 million and $1.5 million in daily trading volume.
  • The construction of the index tilts towards Quick Serve Restaurants (QSR) which has a superior business model than Full Service Restaurants (FSR).
  • A rules based investment process has a focused allocation process that eliminates 6 companies that are relatively weak performers based upon a proprietary quantitative index methodology.
  • The current portfolio allocation at 69% growth companies and 84% mid cap – small cap makes the portfolio right for a growth oriented portfolios.

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