SPAK

$26.4

The first SPAC ETF

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Democratizing and Disrupting the IPO market

SPACs let the next generation investor in on the deals to bring the most ambitious and innovative companies public.

Picking the winners of individual SPACs can be very difficult, however the ETF structure allows investors to access the most liquid SPAC IPOs in a diversified basket. SPAK allows both financial advisors and retail investors to participate in an IPO private equity style of investing which is usually only available to large financial institutions. A 60% weighting is applied to IPO companies derived from SPACs and 40% is allocated to common stock of newly listed Special Purpose Acquisition Companies (“SPACs”), ex-warrants.

The Indxx SPAC & NextGen IPO Index is a passive rules-based index that tracks the performance of the common stock of newly listed Special Purpose Acquisition Companies (“SPACs”), ex-warrants, and initial public offerings (“IPOs”) derived from Acquisition Companies. SPACs 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.

Why Invest in a SPAC ETF?

SPACs give emerging companies both flexibility and control, while investors finally have open access to some of the biggest investment deals in the market.

The IPO process is institutionalized, cumbersome and inflexible, especially in adapting to the Covid-19 reality where virtual road shows are less effective, and uncertainty is rife. Enter the Special Purchase Acquisition Company (SPAC), an alternative route for a company to go public, which can be cheaper, quicker, more transparent and involves agreements and processes more within the purview and control of the company.

SPACs have grown in popularity as they increasingly attract high-worth, credible sponsors. As the quality of their founders and the success of their merger companies grows, so does their integrity in the wider investment community. So far in 2020, SPACs have raised $22.5 billion to spend on deals, exceeding the record $13.6 billion raised in 2019.¹

—

1 “Wall Street holds the cards as Main Street chases blank-check deal frenzy,” Joshua Franklin, Krystal Hu, August 18, 2020. https://www.reuters.com/article/us-usa-spac-wallstreet-analysis-idUSKCN25E166

Fund Data and Pricing

Net Assets $60.97M

Premium/discount -0.13%

NAV $26.22

Closing Price $26.19

Shares Outstanding 2,325,000

Median 30 Day Spread 0.16%

Data as of 06/11/2021

Fund Details

Fund inception 09/30/2020

Ticker SPAK

Primary Exchange NYSE

CUSIP 26922B204

Fund Holdings 239

NAV Symbol SPAK.NV

Expense Ratio 0.45%

30 Day SEC Yield* (0.34)%

* Yield as of 5/28/21

SPAK

	YTD	1 Months	3 Months	6 Months	1 Year	Since Inception
Total Return (%)	5.07%	-0.12%	11.94%	xx.xx%	xx.xx%	19.03%
Market Price (%)	4.92%	-0.30%	11.80%	xx.xx%	xx.xx%	19.02%

	1 Year	Since Inception
Total Return (%)	xx.xx%	xx.xx%
Market Price (%)	xx.xx%	xx.xx%

	YTD	1 Months	3 Months	6 Months	1 Year	Since Inception
Total Return (%)	-10.09%	-2.74%	-14.54%	15.00%	xx.xx%	1.85%
Market Price (%)	-10.30%	-2.80%	-14.77%	14.75%	xx.xx%	1.74%

	1 Year	Since Inception
Total Return (%)	xx.xx%	xx.xx%
Market Price (%)	xx.xx%	xx.xx%

	YTD	1 Months	3 Months	6 Months	1 Year	Since Inception
Total Return (%)	-7.57%	-12.02%	-7.57%	4.72%	xx.xx%	4.72%
Market Price (%)	-7.72%	-12.05%	-7.72%	4.68%	xx.xx%	4.68%

	1 Year	Since Inception
Total Return (%)	xx.xx%	xx.xx%
Market Price (%)	xx.xx%	xx.xx%

	YTD	1 Months	3 Months	6 Months	1 Year	Since Inception
Total Return (%)	-12.83%	-3.05%	-17.04%	-7.13%	xx.xx%	-1.25%
Market Price (%)	-12.85%	-2.84%	-16.94%	-7.15%	xx.xx%	-1.15%

	1 Year	Since Inception
Total Return (%)	xx.xx%	xx.xx%
Market Price (%)	xx.xx%	xx.xx%

	YTD	1 Months	3 Months	6 Months	1 Year	Since Inception
Total Return (%)	xx.xx%	xx.xx%	xx.xx%	xx.xx%	xx.xx%	0.00%
Market Price (%)	xx.xx%	xx.xx%	xx.xx%	xx.xx%	xx.xx%	0.00%

	1 Year	Since Inception
Total Return (%)	xx.xx%	xx.xx%
Market Price (%)	xx.xx%	xx.xx%

	YTD	1 Months	3 Months	6 Months	1 Year	Since Inception
Total Return (%)	xx.xx%	20.06%	xx.xx%	xx.xx%	xx.xx%	6.33%
Market Price (%)	xx.xx%	20.06%	xx.xx%	xx.xx%	xx.xx%	6.46%

	1 Year	Since Inception
Total Return (%)	xx.xx%	xx.xx%
Market Price (%)	xx.xx%	xx.xx%

	YTD	1 Months	3 Months	6 Months	1 Year	Since Inception
Total Return (%)	5.20%	5.20%	34.56%	xx.xx%	xx.xx%	19.18%
Market Price (%)	5.24%	5.24%	34.63%	xx.xx%	xx.xx%	19.37%

	1 Year	Since Inception
Total Return (%)	xx.xx%	xx.xx%
Market Price (%)	xx.xx%	xx.xx%

	YTD	1 Months	3 Months	6 Months	1 Year	Since Inception
Total Return (%)	xx.xx%	-11.43%	xx.xx%	xx.xx%	xx.xx%	-11.43%
Market Price (%)	xx.xx%	-11.33%	xx.xx%	xx.xx%	xx.xx%	-11.33%

	1 Year	Since Inception
Total Return (%)	xx.xx%	xx.xx%
Market Price (%)	xx.xx%	xx.xx%

	YTD	1 Months	3 Months	6 Months	1 Year	Since Inception
Total Return (%)	xx.xx%	6.54%	13.29%	xx.xx%	xx.xx%	13.29%
Market Price (%)	xx.xx%	6.55%	13.43%	xx.xx%	xx.xx%	13.43%

	1 Year	Since Inception
Total Return (%)	xx.xx%	xx.xx%
Market Price (%)	xx.xx%	xx.xx%

	2020
Total Return (%)	xx.xx%
Market Price (%)	xx.xx%

The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted. Performance current to the most recent month-end can be obtained by calling 833.333.9383. Short term performance, in particular, is not a good indication of the fund’s future performance, and an investment should not be made based solely on returns. Market price is the price at which shares in the ETF can be brought or sold on the exchanges during trading hours, while the net asset value (NAV) represents the value of each share’s portion of the fund’s underlying assets and cash at the end of the trading day.

Top Holdings

View full holdings

Name	Symbol	Stock price	% Net assets	Shares Held	Market Value
Draftkings Inc	DKNG	$53.14	5.99%	68,714	3,651,462
Clarivate Plc	CLVT	$26.52	3.40%	78,270	2,075,720
Paysafe Limited	PSFE	$11.95	3.40%	173,426	2,072,441
Churchill Capital Corp Iv	CCIV	$25.14	2.91%	70,504	1,772,471
Vertiv Holdings Co	VRT	$26.21	2.87%	66,801	1,750,854
Pershing Square Tontine Hldgs Com Cl A	PSTH	$22.86	2.56%	68,393	1,563,464
Virgin Galactic Holdings Inc Com	SPCE	$35.1	2.23%	38,673	1,357,422
Skillz Inc	SKLZ	$21.48	1.96%	55,663	1,195,641
Opendoor Technologies Inc	OPEN	$17.2	1.72%	60,974	1,048,753
Chargepoint Holdings Inc	CHPT	$28.72	1.66%	35,221	1,011,547