In its two-year history as a firm, there has been little evidence to suggest SonicShares is a superior steward of capital compared with other asset managers. SonicShares currently oversees one vehicle, with a total of$ 43.4 million under management and a roster of two portfolio managers. As a small group, this management team is quite accomplished with about 11 years of average total industry experience.
Lofty fees on open-end and exchange-traded funds are a drag on performance at the firm, where the average net expense ratio, compared with other firms, is in the second-costliest quintile.
To upgrade the firm's rating, SonicShares will be expected to build a consistent track record of positive investor experience.