'Bloomberg ETF IQ' (07/03/2019) -‘FLAG’ing An ETF for This 4th of July Weekend

The FLAG ETF uses forensic accounting to evaluate the top 500 U.S. stocks, identifying those with potential accounting or performance issues. Initially a long-only fund, it transitioned to a long-short strategy in 2015, with a 30% short and 130% long allocation. The fund's assets have decreased to $10 million, with notable long positions in JetBlue and Ford, and short positions in Roku and AMD. Despite its high expense ratio of 161 basis points, FLAG's returns have lagged behind the broader market since its 2013 launch. It receives a green light from Bloomberg Intelligence, albeit with a caution on fees.

What is the primary strategy of the fund mentioned in the text?

What changes did the fund undergo in August 2015?

List some of the long positions held by the fund.

What is the expense ratio of the fund and how does it compare to other ETFs?

How have the fund's returns performed since its launch in 2013?