Cannabis Growth ETF
Name
As of 04/26/2022Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
N/A
1 yr return
N/A
3 Yr Avg Return
N/A
5 Yr Avg Return
N/A
Net Assets
$3.1 M
Holdings in Top 10
78.5%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 11.95%
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 04/26/2022Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
BUDX - 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
- Dividend Yield 0.0%
- Dividend Distribution Frequency None
Fund Details
-
Legal NameCannabis Growth ETF
-
Fund Family NameINVESTMENT MANAGERS SERIES TRUST II
-
Inception DateFeb 22, 2019
-
Shares OutstandingN/A
-
Share ClassN/A
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerKorey Bauer
Fund Description
Under normal market conditions, the Fund will invest at least 80% of its net assets (plus any borrowings for investment purposes) in exchange-traded equity securities of companies around the globe engaged in legal cannabis-related businesses (“Cannabis Companies”). For purposes of this investment policy, the Fund may invest in shares of exchange-traded funds (ETFs) that have a policy to invest at least 80% of their assets in securities of Cannabis Companies and in derivatives that have economic characteristics similar to such securities. Cannabis Companies may participate in the following activities, so long as permitted by law:
● | Agriculture technology: Companies that support the innovation and development of equipment required to cultivate cannabis, such as automated fertilizer systems, greenhouse technologies and improved lighting systems. |
● | Ancillary products and services: Companies that offer products that complement the cannabis industry as a whole, which can include products like a cannabis breathalyzer and laboratories that test cannabis products. This also includes companies that provide insurance to cultivators as well as those that create consumer packaging for products. |
● | Biotechnology: Companies that focus on the pharmaceutical applications of cannabis by developing treatments to target illnesses and diseases. |
● | Cannabis products and extracts: Companies that sell cannabidiol (better known as CBD) products, edibles, topicals, drinks and other products. |
● | Consulting services: Companies that respond to the complexity of rules and regulations regarding cannabis in different jurisdictions. They may provide services to assist with licensing, zoning or advising on operational processes. |
● | Consumption devices: Companies that create products that people use to consume cannabis. |
● | Cultivation and retail: Companies that grow and sell cannabis, and are often the types of businesses that most people think of when discussing the cannabis industry. |
● | Industrial hemp: Companies that provide products using industrial hemp, which is different than cannabis and may have numerous applications and uses, including creating consumer products like paper and clothing, as well as building materials, fuel and foods. |
The Fund considers a company to be a Cannabis Company if the company derives at least 50% of its revenue from the legal cannabis industry. The Fund will only directly invest in Cannabis Companies that supply products and/or perform activities that are legal under applicable national and local laws, including U.S. federal and state laws, as described in more detail below.
The Fund may invest a majority of its net assets in foreign securities (including emerging market securities) if the Fund’s advisor, Foothill Capital Management, LLC (the “Advisor”), believes that such securities have the potential to outperform U.S. securities. It is anticipated that a large number of holdings within the Fund’s portfolio will be securities of Canadian companies. While the Fund may invest in companies of any market capitalization, including mid-, small- and micro-capitalization, the Fund will invest in companies with market capitalizations of at least $100 million at the time of purchase. The Fund intends to concentrate its investments in the cannabis industry.
The Fund may invest a significant portion of its assets in ETFs that invest substantially all of their assets in equity securities of Cannabis Companies and derivatives or other instruments that have economic characteristics similar to such securities. While the Fund does not intend to directly invest in swaps, certain ETFs in which the Fund invests may utilize total return swaps to obtain exposure to the price movements of securities of Cannabis Companies without owning or taking physical custody of such security. The Fund may also invest in equity interests in real estate investment trusts (“REITs”).
The Fund may also purchase and write (i.e., sell) call and put options on individual securities, indexes and ETFs, to manage the position size of individual security holdings, and to seek to enhance the Fund’s return and reduce volatility. When evaluating options, the Advisor considers the amount of the premium received or invested (which is a function of the implied volatility of the underlying security, the strike price, and the time to expiration), the valuation of the underlying security at the exercise price, the weighting of the security in the portfolio if exercised, and the expiration date. The Fund may write (sell) covered call options on securities the Fund holds in its portfolio. In addition, the Fund may lead its portfolio securities to broker-dealers and other institutions as a means of earning additional income.
The Fund’s direct equity investments will consist only of exchange traded equity securities of companies that are engaged exclusively in legal activities under applicable national and local laws, including U.S. federal and state laws. All such equity securities will be listed on exchanges that require the issuing company’s compliance with all laws, rules and regulations applicable to its business, including U.S. federal and state laws. The Fund will not directly or indirectly hold ownership in any companies that engage in cannabis-related business unless permitted by national and local laws of the relevant jurisdiction, including U.S. federal and state laws. Investors should be mindful of the “Cannabis-related risks” described below.
The Advisor employs a strategy that first seeks to identify a universe of exchange-traded securities of companies engaged in the legal cannabis industry across the globe. Utilizing the Advisor’s proprietary screening process, the Advisor evaluates each Cannabis Company using certain criteria such as: (i) long-term growth potential, (ii) price momentum, (iii) financial viability, (iv) branding and market exposure and (v) management team experience. The Advisor also considers the liquidity of a security prior to the Fund buying a position in that security. The Advisor then selects the highest-quality Cannabis Companies that it believes have the strongest sustainable competitive advantage within the universe and offer the potential for strong earnings and growth. The Fund expects to frequently and actively trade its portfolio securities.
The Fund is classified as “non-diversified” for purposes of the Investment Company Act of 1940 (the “1940 Act”), which means a relatively high percentage of the Fund’s assets may be invested in the securities of a limited number of companies that could be in the same or related economic sectors.
The Advisor will sell all or a portion of a position of the Fund’s portfolio holdings, when in its opinion, one of more of the following occurs, among other reasons: (i) the company no longer meets the definition of Cannabis Companies as defined above; (ii) a particular security has achieved its investment expectations; (iii) the reason(s) for maintaining the position are no longer valid; (iv) the Advisor’s view of the business fundamentals or management of the underlying company changes; (v) a more attractive investment opportunity is found; (vi) general market conditions trigger a change in the Advisor’s assessment criteria; (vii) for other portfolio management reasons; or (viii) the Fund requires cash to meet redemption requests (in instances when the Fund does not meet redemption requests in-kind).
BUDX - Performance
Return Ranking - Trailing
Period | BUDX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | N/A | -24.9% | 18.0% | 57.81% |
1 Yr | N/A | -68.1% | 26.2% | 84.91% |
3 Yr | N/A* | -44.8% | 27.5% | 90.48% |
5 Yr | N/A* | -31.9% | 26.1% | N/A |
10 Yr | N/A* | -2.8% | 18.4% | N/A |
* Annualized
Return Ranking - Calendar
Period | BUDX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | N/A | -72.7% | 24.1% | N/A |
2022 | N/A | -22.1% | 50.4% | N/A |
2021 | N/A | -31.4% | 49.5% | N/A |
2020 | N/A | -23.4% | 13.6% | N/A |
2019 | N/A | -13.7% | 34.6% | N/A |
Total Return Ranking - Trailing
Period | BUDX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | N/A | -73.0% | 18.0% | 68.75% |
1 Yr | N/A | -68.1% | 26.2% | 84.91% |
3 Yr | N/A* | -44.8% | 27.5% | 90.48% |
5 Yr | N/A* | -31.9% | 26.1% | N/A |
10 Yr | N/A* | -1.5% | 18.4% | N/A |
* Annualized
Total Return Ranking - Calendar
Period | BUDX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | N/A | -72.7% | 24.1% | N/A |
2022 | N/A | -22.1% | 50.4% | N/A |
2021 | N/A | -31.4% | 49.5% | N/A |
2020 | N/A | -23.4% | 13.6% | N/A |
2019 | N/A | -12.2% | 34.6% | N/A |
BUDX - Holdings
Concentration Analysis
BUDX | Category Low | Category High | BUDX % Rank | |
---|---|---|---|---|
Net Assets | 3.1 M | 610 K | 31.2 B | 90.32% |
Number of Holdings | 19 | 1 | 389 | 97.18% |
Net Assets in Top 10 | 2.74 M | -21.4 M | 5.86 B | 81.69% |
Weighting of Top 10 | 78.48% | 8.9% | 100.0% | 8.96% |
Top 10 Holdings
- ADVISORSHARES PURE US CANN 19.81%
- INNOVATIVE INDUSTRIAL PROPER 9.62%
- AFC GAMMA INC 8.48%
- VILLAGE FARMS INTERNATIONAL 8.34%
- TILRAY BRANDS INC 7.82%
- SCOTTS MIRACLE-GRO CO 7.37%
- C/O ADVISOR SHARES JAN 45.000 4.77%
- HIGH TIDE INC 4.18%
- CRONOS GROUP INC 4.10%
- FIRE FLOWER HOLDINGS C /CAD/ 3.99%
Asset Allocation
Weighting | Return Low | Return High | BUDX % Rank | |
---|---|---|---|---|
Stocks | 99.83% | 0.00% | 100.33% | 73.24% |
Cash | 0.17% | -0.34% | 101.46% | 22.54% |
Preferred Stocks | 0.00% | 0.00% | 29.02% | 47.89% |
Other | 0.00% | -8.90% | 91.95% | 16.90% |
Convertible Bonds | 0.00% | 0.00% | 3.05% | 53.52% |
Bonds | 0.00% | 0.00% | 88.23% | 53.52% |
Stock Sector Breakdown
Weighting | Return Low | Return High | BUDX % Rank | |
---|---|---|---|---|
Utilities | 0.00% | 0.00% | 85.14% | 65.57% |
Technology | 0.00% | 0.00% | 77.79% | 63.93% |
Real Estate | 0.00% | 0.00% | 54.95% | 8.20% |
Industrials | 0.00% | 0.00% | 90.47% | 67.21% |
Healthcare | 0.00% | 0.00% | 100.00% | 18.03% |
Financial Services | 0.00% | 0.00% | 95.51% | 54.10% |
Energy | 0.00% | 0.00% | 55.97% | 55.74% |
Communication Services | 0.00% | 0.00% | 16.38% | 55.74% |
Consumer Defense | 0.00% | 0.00% | 53.62% | 24.59% |
Consumer Cyclical | 0.00% | 0.00% | 41.11% | 47.54% |
Basic Materials | 0.00% | 0.00% | 36.59% | 36.07% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | BUDX % Rank | |
---|---|---|---|---|
US | 91.62% | 0.00% | 85.31% | 47.89% |
Non US | 8.22% | 0.00% | 98.35% | 45.07% |
BUDX - Expenses
Operational Fees
BUDX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 11.95% | 0.22% | 4.26% | 35.06% |
Management Fee | 0.65% | 0.25% | 1.90% | 51.35% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.03% | 0.19% | N/A |
Sales Fees
BUDX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 0.00% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 2.25% | N/A |
Trading Fees
BUDX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 2.00% | 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.
BUDX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | N/A | 0.00% | 210.00% | 100.00% |
BUDX - Distributions
Dividend Yield Analysis
BUDX | Category Low | Category High | BUDX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.00% | 0.00% | 5.18% | 65.38% |
Dividend Distribution Analysis
BUDX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | None | Annually | Quarterly | Annually |
Net Income Ratio Analysis
BUDX | Category Low | Category High | BUDX % Rank | |
---|---|---|---|---|
Net Income Ratio | N/A | -2.66% | 6.26% | 57.63% |
Capital Gain Distribution Analysis
BUDX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually |
BUDX - Fund Manager Analysis
Managers
Korey Bauer
Start Date
Tenure
Tenure Rank
Sep 27, 2021
0.51
0.5%
Korey Bauer, Chartered Market Technician® (CMT), is Chief Investment Officer, Managing Director and Portfolio Manager with Foothill Capital Management, LLC and is a founding member of the firm. From 2014 to 2018, he was the President, Chief Executive Officer and Chief Compliance Officer of Bauer Capital Management LLC. Previously, Korey was Senior Vice President, Analyst and Market Technician at Castle Financial & Retirement Planning Associates, Inc. from 2011 to 2014. He served as Portfolio Manager on the Catalyst Macro Strategy Fund from March 2014 to November 2014. Korey has been performing extensive research on the financial markets since 2007 and is a published author on SeeItMarket.com, Nasdaq.com and other publications. Korey earned a B.A. from Marist College.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.51 | 23.1 | 6.43 | 3.29 |