The RBB Fund, Inc. has announced the closure and liquidation of its F/m Compoundr High Yield Bond ETF. This decision, effective as of the close of business on December 4, 2026, is a significant move in the investment landscape, particularly for bond funds. The Board of Directors made this determination based on a recommendation from F/m Investments LLC, the fund's investment adviser. This liquidation reflects the ongoing challenges and competitive pressures within the investment industry.

RBB Fund, Inc. is an investment company incorporated in Maryland, with its business address located at 615 E. Michigan St., Milwaukee, WI. The company operates under the SEC file number 033-20827 and is known for its F/m Compoundr High Yield Bond ETF, which is listed on The Nasdaq Stock Market LLC under the ticker CPHY.

According to the recent SEC filing, the Board concluded that closing and liquidating the Fund would be in the best interest of its shareholders. The liquidation process will begin on November 20, 2026, when the Fund will cease following its investment objective and start liquidating its portfolio assets. By November 27, 2026, the Fund is expected to hold primarily cash and other liquid assets.

Shareholders will no longer be able to purchase new creation units after November 23, 2026, and trading in the Fund's shares will be halted before the market opens on December 4, 2026. Until December 3, 2026, shareholders can sell their shares on the Exchange, subject to brokerage commissions. After this date, selling may be limited to certain broker-dealers, and there may not be a market for the shares.

Once the liquidation is complete, the Fund will distribute its remaining assets to shareholders of record as of the close of business on the Liquidation Date. These distributions will be taxable events, and shareholders are advised to consult their tax advisors regarding the implications. The net asset value calculated on the Liquidation Date will account for any costs associated with closing and liquidating the Fund.

The decision to liquidate the F/m Compoundr High Yield Bond ETF highlights the competitive pressures within the investment industry, particularly for bond funds. As the market evolves, investment firms must navigate these challenges to meet shareholder expectations and maintain viability.

Details were not available in the SEC filing regarding any future actions or filings related to this liquidation.