One of the criticisms of rotation strategies, or any kind of active investment vs. a buy-and-hold-forever strategy is added costs involved, more specifically taxes and commissions.
Some methods to reduce or avoid taxes are to trade most actively in an IRA retirement account, where any earnings are tax-free. There are certain considerations to take into account when trading in an IRA or non-margin account. For example short-selling is not allowed, therefore one cannot execute a strategy such as the aforementioned "Hedged Convexity Capture".
Commissions vary wildly between brokerage companies. Charles Schwab charges $8.95 / trade for stocks and non-commission-free ETF's. Interactive Brokers charges around $1 / trade, however if monthly commissions are below $30, a $10 monthly market data subscription fee is collected. I've provided a table below with commission-free substitutes (at the time of this writing) for ETFs introduced in previous posts for both Schwab and TD Ameritrade. Note that the substitutes available are not exact equivalents, and there may be some price fluctuation between the assets.
For some of the ETFs there are no substitutes and a few are very illiquid, meaning a potential of a high bid-ask spread because of a low-traded volume.
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