Elkhorn Investments LLC on Wednesday announced the launch of two exchange-traded funds that are collaborations with two of the country’s leading investment research houses.

In one corner is the Elkhorn Fundamental Commodity Strategy ETF (RCOM), which is based on fundamental research from Research Affiliates, the Newport Beach, Calif.-based company founded by smart-beta pioneer Rob Arnott. This is the first commodity ETF based on Research Affiliates’ fundamental research.

In the other corner is the Elkhorn Commodity Rotation Strategy ETF (DWAC), which is the first commodity ETF based on Dorsey, Wright & Associates’ (DWA) proprietary Relative Strength methodology.

RCOM is an actively managed ETF that benchmarks to the Dow Jones RAFI Commodity Index. It attempts to track the index by investing in exchange-traded commodity futures contracts and other commodity-linked instruments. The fund will also invest in short-duration, high-quality and highly liquid bonds to collateralize its exposure.

Research Affiliates’ index uses price momentum and roll yield to attempt to outperform the broad market, as well as a dynamic weighting methodology to adapt to volatile commodity markets. RCOM will have 1099 tax reporting.

The launch marks a reunion of sorts: Ben Fulton, founder and CEO of Wheaton Ill.-based Elkhorn Investments, teamed up with Arnott 10 years ago to launch the first fundamentally weighted equity ETF for PowerShares.

Fulton calls the DWAC fund the first purely tactical commodity ETF on the market.

As described by Elkhorn, DWAC’s commodity exposure is based on a model developed by DWA using their proprietary Relative Strength methodology. The model evaluates a universe of 21 commodities and provides equal-weighted exposure to the five commodities exhibiting the highest relative strength. The ETF also employs an intelligent roll strategy to mitigate the potential negative impact of contango, and invests in a short duration portfolio of highly liquid, high-quality bonds.

As with the RCOM fund, investors in DWAC will receive a 1099 tax form versus the K-1 forms often associated with commodity ETFs.