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Trending ETFs

Name

As of 08/30/2022

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

-

$17.3 M

0.00%

0.45%

Vitals

YTD Return

N/A

1 yr return

N/A

3 Yr Avg Return

N/A

5 Yr Avg Return

N/A

Net Assets

$17.3 M

Holdings in Top 10

16.2%

52 WEEK LOW AND HIGH

$14.6
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.45%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A


Min Investment

Standard (Taxable)

N/A

IRA

N/A


Fund Classification

Fund Type

Exchange Traded Fund


Name

As of 08/30/2022

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

-

$17.3 M

0.00%

0.45%

SPAK - Profile

Distributions

  • YTD Total Return N/A
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio N/A
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    Defiance Next Gen SPAC Derived ETF
  • Fund Family Name
    N/A
  • Inception Date
    Sep 30, 2020
  • Shares Outstanding
    N/A
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Dustin Lewellyn

Fund Description

The Fund uses a “passive management” (or indexing) approach to track the total return performance, before fees and expenses, of the Index.
Indxx SPAC & NextGen IPO Index
The Index tracks the performance of the U.S.-listed common stock of Special Purpose Acquisitions Corporations (“SPACs”) and companies derived from SPACs. SPACs (also known as “blank check companies”) are companies with no commercial operations that are established solely to raise capital from investors for the purpose of acquiring one or more operating businesses (i.e., a SPAC-derived company).
To be eligible to be added to the Index, a security must be U.S.-listed, have a minimum total market capitalization of $250 million, have a free float (i.e., the proportion of shares that are publicly available) of at least 10%; have a trading price of less than $10,000; and meet minimum liquidity thresholds. To be eligible to be added to the Index, SPACs must have traded on 90% of the eligible trading days in the last 3 months, except that SPACs with a market capitalization of more than $750 million are eligible if they have been listed for at least five trading days. Additionally, to be eligible to be added to the Index, SPAC-derived companies must be actively trading and must have traded for less than 2 years since completing a business combination with a SPAC.
As of each reconstitution and rebalance of the Index, 60% of the weight of the Index will be allocated to SPAC-derived companies and 40% will be allocated to SPACs. Within each such category, constituents will be weighted based on their market capitalization, subject to a maximum 12% weight and minimum 0.1% weight for an individual constituent. Additionally, the aggregate weight for securities with a weight greater than 5% is limited to 45% at the time of each reconstitution and rebalance of the Index.
The Index is reconstituted annually after the close of business on the last trading day of each July and rebalanced quarterly after the close of business on the last trading day of each January, April, July, and October, although new SPACs and SPAC-derived companies that meet the Index’s eligibility requirements may be added on a “fast-entry basis” in between reconstitution dates. In addition to the annual reconstitution in July, new SPACs and SPAC-derived companies may be added to the Index on the last trading day of each month. Index constituents will be removed from the Index at the time of a reconstitution if they fail to meet the eligibility requirements.
As of March 31, 2022, the Index was composed of 403 constituents. The Index was established in 2020 and is owned and maintained by Indxx, LLC (the “Index Provider”). The Index Provider partnered with the Fund’s investment adviser to co-develop the methodology used to determine the securities included in the Index.
The Fund’s Investment Strategy
Under normal circumstances, the Fund invests at least 80% of its net assets (plus borrowings for investment purposes) in SPACs and SPAC-derived companies. The foregoing policy may be changed without shareholder approval upon 60 days’ written notice to shareholders.
The Fund will generally use a “replication” strategy to achieve its investment objective, meaning the Fund will generally invest in all of the component securities of the Index in the same approximate proportions as in the Index. However, the Fund may use a “representative sampling” strategy, meaning it may invest in a sample of the securities in the Index whose risk, return, and other characteristics closely resemble the risk, return, and other characteristics of the Index as a whole, when the Fund’s sub-adviser believes it is in the best interests of the Fund (e.g., when replicating the Index involves practical difficulties or substantial costs, an Index constituent becomes temporarily illiquid, unavailable, or less liquid, or as a result of legal restrictions or limitations that apply to the Fund but not to the Index).
The Fund generally may invest in securities or other investments not included in the Index, but which the Fund’s sub-adviser believes will help the Fund track the Index. For example, the Fund may invest in securities that are not components of the Index to reflect various corporate actions and other changes to the Index (such as reconstitutions, additions, and deletions).
To the extent the Index concentrates (i.e., holds more than 25% of its total assets) in the securities of a particular industry or group of related industries, the Fund will concentrate its investments to approximately the same extent as the Index.
The Fund is considered to be non-diversified, which means that it may invest more of its assets in the securities of a single issuer or a smaller number of issuers than if it were a diversified fund.
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SPAK - Performance

Return Ranking - Trailing

Period SPAK Return Category Return Low Category Return High Rank in Category (%)
YTD N/A -55.6% 562.6% 7.54%
1 Yr N/A -63.8% 60.0% 95.86%
3 Yr N/A* -20.6% 40.7% N/A
5 Yr N/A* -14.3% 30.8% N/A
10 Yr N/A* -7.0% 20.0% N/A

* Annualized

Return Ranking - Calendar

Period SPAK Return Category Return Low Category Return High Rank in Category (%)
2023 -25.9% -98.2% 781.7% 92.03%
2022 N/A -63.0% 340.3% N/A
2021 N/A -9.1% 48.3% N/A
2020 N/A -76.3% 13.6% N/A
2019 N/A -34.7% 37.0% N/A

Total Return Ranking - Trailing

Period SPAK Return Category Return Low Category Return High Rank in Category (%)
YTD N/A -67.4% 562.6% 95.02%
1 Yr N/A -64.1% 60.0% 95.06%
3 Yr N/A* -22.2% 40.7% N/A
5 Yr N/A* -15.3% 30.8% N/A
10 Yr N/A* -7.6% 20.0% N/A

* Annualized

Total Return Ranking - Calendar

Period SPAK Return Category Return Low Category Return High Rank in Category (%)
2023 -25.9% -98.2% 781.7% 92.03%
2022 N/A -63.0% 340.3% N/A
2021 N/A -9.1% 48.3% N/A
2020 N/A -76.3% 14.5% N/A
2019 N/A -8.4% 42.0% N/A

SPAK - Holdings

Concentration Analysis

SPAK Category Low Category High SPAK % Rank
Net Assets 17.3 M 183 K 28 B 95.13%
Number of Holdings 417 6 1336 5.18%
Net Assets in Top 10 2.38 M 59 K 2.7 B 96.55%
Weighting of Top 10 16.22% 4.7% 100.0% 80.94%

Top 10 Holdings

  1. Lucid Group Inc 3.36%
  2. Pershing Square Tontine Holdings Ltd 2.93%
  3. Grab Holdings Ltd 1.72%
  4. DraftKings Inc 1.54%
  5. MP Materials Corp 1.53%
  6. SoFi Technologies Inc 1.17%
  7. Blue Owl Capital Inc 1.02%
  8. KKR Acquisition Holdings I Corp 0.99%
  9. Churchill Capital Corp VII 0.98%
  10. Austerlitz Acquisition Corp II 0.98%

Asset Allocation

Weighting Return Low Return High SPAK % Rank
Stocks
99.61% 77.52% 101.30% 9.89%
Cash
0.41% -1.30% 22.49% 89.01%
Preferred Stocks
0.00% 0.00% 3.43% 63.89%
Other
0.00% -1.57% 20.21% 68.92%
Convertible Bonds
0.00% 0.00% 1.57% 64.05%
Bonds
0.00% 0.00% 3.19% 63.11%

Stock Sector Breakdown

Weighting Return Low Return High SPAK % Rank
Utilities
0.00% 0.00% 10.26% 10.68%
Technology
0.00% 0.00% 75.51% 95.76%
Real Estate
0.00% 0.00% 27.01% 43.80%
Industrials
0.00% 0.00% 36.64% 91.99%
Healthcare
0.00% 0.00% 58.05% 93.41%
Financial Services
0.00% 0.00% 100.00% 0.47%
Energy
0.00% 0.00% 55.49% 90.89%
Communication Services
0.00% 0.00% 15.31% 39.09%
Consumer Defense
0.00% 0.00% 30.87% 86.50%
Consumer Cyclical
0.00% 0.00% 40.68% 32.97%
Basic Materials
0.00% 0.00% 11.17% 42.86%

Stock Geographic Breakdown

Weighting Return Low Return High SPAK % Rank
US
99.61% 32.04% 99.56% 76.30%
Non US
0.00% 0.00% 46.32% 10.68%

SPAK - Expenses

Operational Fees

SPAK Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.45% 0.03% 6.02% 96.37%
Management Fee 0.45% 0.05% 4.05% 5.97%
12b-1 Fee N/A 0.00% 1.00% 16.67%
Administrative Fee N/A 0.01% 0.40% N/A

Sales Fees

SPAK Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 3.50% 5.75% N/A
Deferred Load N/A 1.00% 5.50% N/A

Trading Fees

SPAK Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

SPAK Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 461.00% 93.44%

SPAK - Distributions

Dividend Yield Analysis

SPAK Category Low Category High SPAK % Rank
Dividend Yield 0.00% 0.00% 23.90% 64.93%

Dividend Distribution Analysis

SPAK Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annually Semi-Annually Annually

Net Income Ratio Analysis

SPAK Category Low Category High SPAK % Rank
Net Income Ratio N/A -5.42% 1.10% 20.10%

Capital Gain Distribution Analysis

SPAK Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Semi-Annually Annually

Distributions History

View More +

SPAK - Fund Manager Analysis

Managers

Dustin Lewellyn


Start Date

Tenure

Tenure Rank

Sep 30, 2020

1.67

1.7%

Dustin Lewellyn, CFA. Mr. Lewellyn has extensive background in institutional investment process with a specific focus on exchange-traded funds (“ETFs”). Mr. Lewellyn was a portfolio manager at BGI (now part of Blackrock), and he managed a number of international equity funds. Dustin also was head of ETF product management and product development at Northern Trust where he oversaw the build out and management of all areas of a new ETF business, including primary responsibility for the portfolio management process surrounding the ETFs. Mr. Lewellyn also built and ran a new ETF business for Charles Schwab, including having primary responsibility for the technology and investment process to support portfolio management for the ETFs. Mr. Lewellyn started a consulting business with a focus on ETFs and helped numerous new ETF sponsors, as well as service providers, understand the resource requirements to participate in the industry utilizing current best practices. Mr. Lewellyn holds a B.A. from University of Iowa and is a CFA Charterholder. He also holds security licenses 7, 63, 66 and 24.

Ernesto Tong


Start Date

Tenure

Tenure Rank

Sep 30, 2020

1.67

1.7%

Mr. Tong has been a managing director with Penserra since 2015. Prior to joining Penserra, Mr. Tong spent seven years as a vice president at Blackrock, where he was a portfolio manager for a number of the iShares ETFs, and prior to that, he spent two years in the firm’s index research group.

Anand Desai


Start Date

Tenure

Tenure Rank

Sep 30, 2020

1.67

1.7%

Anand Desai. Mr. Desai has been an Associate with Penserra since 2015. Prior to joining the Penserra Capital Management, LLC, Mr. Desai was a portfolio fund accountant at State Street for five years.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 30.44 8.81 0.33