Fund aims to let investors tail Bill Ackman’s trades following success of Warren Buffett

A new exchange-traded fund launching Tuesday is giving investors the chance to mimic billionaire hedge fund manager Bill Ackman. The VistaShares Target 15 ACKtivist Distribution ETF (ACKY) provides a portfolio that reflects the top publicly disclosed holdings of Ackman-led Pershing Square Capital. It’s the latest ETF release from VistaShares focused on the major players in investing. The Ackman ETF gives exposure to names like Alphabet , Amazon and Chipotle . The fund has an annual income goal of 15%, distributed monthly through a covered call strategy that provides 1.25% income each month, according to VistaShares CEO Adam Patti. VistaShares’ Ackman fund follows an ETF focused on Berkshire Hathaway CEO Warren Buffett that launched earlier this year. Patti said the VistaShares Target 15 Berkshire Select Income ETF (OMAH) has reached almost half a billion investors and had “extraordinary success.” Following that, Patti said his team began scouting for the next investor who could be tracked in an ETF and provide the 15% income target. “We came up with a short list,” Patti told CNBC’s Dom Chu. Ackman “was the number-one opportunity there for us based on his holdings.” The Ackman fund has 11 holdings and a 0.95% expense ratio, according to VistaShares . It has no official affiliation with Pershing Square or Ackman, who has previously floated plans for a fund for everyday investors.