# EDGAR Filing Document

**Accession Number:** 0001592900
**File Stem:** 0001829126-23-002057
**Filing Date:** 2023-3
**Character Count:** 7034
**Document Hash:** 8f4529dfa4c58f80aba6cdb3cb9b0831
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001829126-23-002057.hdr.sgml**: 20231012

**ACCESSION NUMBER**: 0001829126-23-002057

**CONFORMED SUBMISSION TYPE**: CORRESP

**PUBLIC DOCUMENT COUNT**: 3

**FILED AS OF DATE**: 20230315

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** EA Series Trust
- **CENTRAL INDEX KEY:** 0001592900
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** CORRESP

**BUSINESS ADDRESS:**
- **STREET 1:** 19 E EAGLE ROAD
- **CITY:** HAVERTOWN
- **STATE:** PA
- **ZIP:** 19083
- **BUSINESS PHONE:** 1.215.882.9983

**MAIL ADDRESS:**
- **STREET 1:** 19 E EAGLE ROAD
- **CITY:** HAVERTOWN
- **STATE:** PA
- **ZIP:** 19083

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Alpha Architect ETF Trust
- **DATE OF NAME CHANGE:** 20140428

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Empowered Funds ETF Trust
- **DATE OF NAME CHANGE:** 20131125

![](image_001.jpg)

March 15, 2023

Mr. Ray Be

U.S. Securities and Exchange Commission

100 F Street, NE

Washington, DC 20549

---

| | |
|:---|:---|
| **Re:** | **EA Series Trust (the "<u>Trust</u>")** |

---

**Post-Effective Amendment No. 204 to the Registration Statement on Form N-1A (the "<u>Amendment</u>")**

**File Nos.: 333-195493 and 811-22961**

**Bridges Capital Tactical Equity ETF**

Dear Mr. Be:

This correspondence responds to comments to the Trust received by the undersigned from the staff (the "<u>Staff</u>") of the U.S. Securities and Exchange Commission (the "<u>Commission</u>") with respect to the Amendment relating to the Bridges Capital Tactical Equity ETF (the "<u>Fund</u>"), a proposed new series of the Trust. For your convenience, the comments have been reproduced with responses following each comment. Capitalized terms not otherwise defined have the same meaning as in the Amendment.

<u>Prospectus</u>

&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Comment</u>:
 In the *Principal Investment Strategies* section, please revise to clarify that the
 Fund will look through the holdings of an underlying fund for purposes of the 80% test.

<u>Response</u>: The Fund's name has been changed to "Bridges Capital Tactical ETF." As such, the disclosure has been revised to remove references to an 80% policy.

&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Comment</u>:
 In the *Principal Investment Strategies* section, clarify these 3 steps using plain
 english principles.

<u>Response</u>: The Fund has revised the disclosure accordingly.

&nbsp;&nbsp;&nbsp;&nbsp;3. <u>Comment</u>:
 In the *Principal Investment Strategies* section, please explain how you determine the
 macro-thesis and position the portfolio in accordance with risk on/risk off periods. What
 types of investments will you use and how do you evaluate them when seeking to implement
 market views?

<u>Response</u>: The Fund has revised the disclosure accordingly.

&nbsp;&nbsp;&nbsp;&nbsp;4. <u>Comment</u>:
 In the *Principal Investment Strategies* section, explain how you will implement your
 risk off strategy while complying with your Fund Names rule obligations.

<u>Response</u>: As noted in the response to comment 1, the Fund's name has been changed to Bridges Capital Tactical ETF and, as such, the Fund no longer has any obligations under the Fund Names rule.

![](image_002.jpg)

11300 Tomahawk Creek Pkwy, Suite 310 ● Leawood, KS 66211

Practus, LLP ● Practus.com

&nbsp;&nbsp;&nbsp;&nbsp;5. <u>Comment</u>:
 In Step 1 in the *Principal Investment Strategies* section, clarify what the range of
 rebalancing could be. Will the Fund follow any pre-determined ranges for rebalancing its
 allocations?

<u>Response</u>: The Fund has revised the disclosure accordingly.

&nbsp;&nbsp;&nbsp;&nbsp;6. <u>Comment</u>:
 In the *Mid-Capitalization Risk* discussion, to the extent the Fund will only gain exposure
 to these types of securities thru ETFs, please clarify.

<u>Response</u>: The Fund has revised the disclosure accordingly.

&nbsp;&nbsp;&nbsp;&nbsp;7. <u>Comment</u>:
 In the *ETF Risks* discussion, with respect to the last two bullets, clarify the distinction
 between these two risks.

<u>Response</u>: The Fund has revised the disclosure accordingly.

&nbsp;&nbsp;&nbsp;&nbsp;8. <u>Comment</u>:
 In the *New Fund Risk* discussion, consider deleting the reference to the Fund being
 a new management investment company and clarifying that it is a new fund.

<u>Response</u>: The Fund has revised the disclosure accordingly.

&nbsp;&nbsp;&nbsp;&nbsp;9. <u>Comment</u>:
 It is stated in the *Additional Information About the Fund's Investment Objective and Principal Strategies* section that it is expected that the Fund will be diversified.
 Explain supplementally how the Fund expects to accomplish this if the Fund's anticipated
 range is 5-20 holdings as stated elsewhere.

<u>Response</u>: The Fund will generally hold approximately 75% of its assets in other investment companies and 5% of its assets in cash or cash or cash equivalents, or 80% of its assets in cash or cash equivalents. The Fund's individual equity holdings will in total represent approximately 20% of the Fund's assets.

&nbsp;&nbsp;&nbsp;&nbsp;10. <u>Comment</u>:
 In the third paragraph of the *Additional Information About the Fund's Investment Objective and Principal Strategies* section, consider adding a graphic showing what the
 allocations will be under normal situations, as well as what the range of rebalancing might
 be short of a temporary position. Also consider discussing the allocations briefly in the *Principal Investment Strategies* section.

<u>Response</u>: The Fund has revised the disclosure in the *Principal Investment Strategies* and *Additional Information About the Fund's Investment Objective and Principal Strategies* sections accordingly, including the addition of a graphic.

&nbsp;&nbsp;&nbsp;&nbsp;11. <u>Comment</u>:
 In the *Risk of Investing in Other ETFs* discussion, tailor this risk to the Fund's
 anticipated investments.

<u>Response</u>: The Fund has revised the disclosure accordingly.

![](image_002.jpg)

<u>Statement of Additional Information</u>

&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Comment</u>:
 With respect to the disclosure on page 5 of the Statement of Additional Information regarding
 applying the Fund's concentration policy limitation, please note that a fund and its
 adviser may not ignore information that it is aware of relating to investments of affiliated
 and unaffiliated underlying funds when determining whether the fund is in compliance with
 its concentration policies. Please add disclosure to clarify that the Fund will consider
 the investments of underlying funds when determining the Fund's compliance with its concentration
 policy.

<u>Response</u>: The Fund has revised the disclosure to clarify the application of its concentration policy.

If you have any questions regarding the above responses, please do not hesitate to contact me at (513) 708-6391 or Tina.Bloom@Practus.com.

Sincerely,

/s/ Tina H. Bloom

Tina H. Bloom

Partner

![](image_002.jpg)