SPAK

$23.48

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 access to some of the biggest investment deals in the market.

Even before the onset of Covid-19, which made the roadshow practically much more difficult, there was a need for greater transparency and efficiency in the traditional IPO process. SPACs offer a quicker and simpler route to public status, bring retail investors in to changing trends and emerging opportunities.

While it’s hard to predict which SPACs will be successful, an ETF mitigates some of this risk by spreading exposure over a range of the largest SPAC companies. 2020 saw 248 SPACs raising over $83.4 billion¹. As of June 6, 2021, there are 421 SPACs looking for an acquisition with a buying power of $134 billion.²

—

¹“The SPAC Boom, Visualized,” Elliot Bentley, February 10, 2021. https://www.wsj.com/articles/the-spac-boom-visualized-in-one-chart-11612962000

2 Spacdata.com. Accessed 6.2.2021

Fund Data and Pricing

Net Assets $48.60M

Premium/discount 0.07%

NAV $23.42

Closing Price $23.44

Shares Outstanding 2,075,000

Median 30 Day Spread 0.16%

Data as of 07/30/2021

Fund Details

Fund inception 09/30/2020

Ticker SPAK

Primary Exchange NYSE

CUSIP 26922B204

Fund Holdings 298

NAV Symbol SPAK.NV

Expense Ratio 0.45%

30 Day SEC Yield* (0.34)%

* Yield as of 6/30/21

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 (%)	-7.72%	5.87%	-0.16%	-7.72%	xx.xx%	4.55%
Market Price (%)	-7.75%	5.85%	-0.04%	-7.75%	xx.xx%	4.64%

	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	% Price change	% Net assets	Shares Held	Market Value
Lucid Group Inc	LCID	$23.79	0.13%	9.93%	203,552	4,828,253
Draftkings Inc	DKNG	$49.00	1.03%	4.22%	42,274	2,050,289
Pershing Square Tontine Hldgs Com Cl A	PSTH	$20.28	-0.44%	2.79%	66,542	1,354,795
Vertiv Holdings Co	VRT	$28.52	-1.11%	2.02%	35,070	983,363
Sofi Technologies Inc	SOFI	$15.79	2.14%	1.85%	58,376	901,325
Ironsource Ltd	IS	$8.99	3.28%	1.36%	77,717	662,926
Austerlitz Acquisition Corp Ii Com Cl A	ASZ	$9.79	-0.41%	1.32%	65,637	639,304
Virgin Galactic Holdings Inc Com	SPCE	$31.95	6.54%	1.29%	20,835	624,842
Soaring Eagle Acquisition Corp Cl A Shs	SRNG	$9.88	0.00%	1.17%	57,433	566,864
Mp Materials Corp	MP	$38.38	0.13%	1.12%	14,505	545,678

Data as of 08/02/2021. Fund holdings are subject to change at any time and should not be considered recommendations to buy or sell any security.

View full holdings

Download Fund Documents

See distribution table View full holdings

Ex-Date	Total Distribution
12/29/2020	$0.00
03/24/2021	$0.00
Download Distribution Schedule

Reasons to invest in SPAK

SPACs leading traditional IPOs

SPACs’ flexibility, transparency³ and wide access means that more money is being channeled for SPAC deals in 2021 than via the traditional IPO method.⁴

Experienced Sponsors

While SPACs lack the IPO “gatekeeper” underwriters, many are led by seasoned deal-makers such as Chamath Palihapitya, Bill Ackman or Michael Klein.

Innovation-sensitive

SPAC sponsors and investors both want to profit from emerging trends and innovation. The SPAC vehicle can expediate the public status of a company on the cutting edge of its field.