The SPAX issuer, an actively managed exchange-traded fund (ETF), focuses on investing primarily in U.S.-listed Special Purpose Acquisition Companies (SPACs), with a particular emphasis on small capitalization companies. SPACs, also known as blank check companies, are entities formed solely to raise capital through IPOs for the purpose of acquiring existing operating companies. SPAX seeks to invest at least 80% of its net assets in equity securities, including common stock and warrants of SPACs. These warrants allow holders to purchase specified amounts of common stock at predetermined prices within specified timeframes. Managed by Robinson Capital Management, LLC, under the supervision of Toroso Investments, LLC, investment decisions are guided by a blend of qualitative and quantitative analyses. Qualitative assessments include evaluating SPAC sponsors' track records and management pedigrees, while quantitative analysis assesses factors such as implied yield-to-worst and warrant values. The fund intends to purchase SPAC shares and units at or below their underlying trust account values and to sell investments prior to completed business combinations if qualitative or quantitative factors deteriorate or better investment opportunities arise. With a focus on liquidity and real-time monitoring of SPACs, SPAX maintains a dynamic portfolio strategy. As a non-diversified fund under the Investment Company Act of 1940, SPAX can invest a larger portion of its assets in fewer issuers, providing flexibility in pursuing its investment objectives.
As an actively managed exchange-traded fund (ETF), SPAX Dividend aims to provide investors with exposure to U.S.-listed Special Purpose Acquisition Companies (SPACs) while also generating income through dividends. Managed by Robinson Capital Management, LLC, under the supervision of Toroso Investments, LLC, SPAX Dividend seeks to invest at least 80% of its net assets in equity securities, primarily consisting of common stock and warrants of SPACs. These SPACs, or blank check companies, are formed to raise capital for acquiring existing operating companies. The fund utilizes a blend of qualitative and quantitative analyses to make investment decisions, assessing factors such as SPAC sponsors' track records and implied yield-to-worst. With a focus on generating income for investors, SPAX Dividend strategically manages its portfolio, aiming to purchase SPAC shares and units at favorable valuations and selling investments prior to completed business combinations if deemed necessary. By maintaining a dynamic portfolio strategy and prioritizing income generation, SPAX Dividend offers investors an opportunity to participate in the potential growth of SPACs while receiving dividend distributions.
SPAX Tracking is an actively managed exchange-traded fund (ETF) designed to closely track the performance of U.S.-listed Special Purpose Acquisition Companies (SPACs). Managed by Robinson Capital Management, LLC, under the supervision of Toroso Investments, LLC, SPAX Tracking aims to provide investors with exposure to the SPAC market while minimizing tracking error. The fund invests at least 80% of its net assets in equity securities, primarily comprising common stock and warrants of SPACs. By utilizing both qualitative and quantitative analyses, SPAX Tracking seeks to optimize its investment decisions, considering factors such as SPAC sponsors' track records and the implied yield-to-worst of SPAC common shares. With a focus on closely tracking SPAC performance, the fund employs dynamic portfolio management strategies, aiming to purchase SPAC shares and units at favorable valuations and promptly adjusting holdings based on market conditions. SPAX Tracking offers investors an efficient vehicle to participate in the potential growth of the SPAC market while seeking to minimize tracking error and maximize returns.
SPAX Correlation is an actively managed exchange-traded fund (ETF) designed to closely monitor the correlation between U.S.-listed Special Purpose Acquisition Companies (SPACs) and broader market trends. Managed by Robinson Capital Management, LLC, under the supervision of Toroso Investments, LLC, SPAX Correlation seeks to provide investors with exposure to SPACs while carefully assessing their correlation with other market indices or sectors. The fund invests at least 80% of its net assets in equity securities, predominantly consisting of common stock and warrants of SPACs. Through a combination of qualitative and quantitative analyses, SPAX Correlation evaluates factors such as the historical correlation between SPAC performance and broader market movements. By employing dynamic portfolio management strategies, the fund aims to adjust its holdings to optimize correlation with market trends, providing investors with a vehicle to potentially capitalize on SPAC movements while managing overall portfolio risk. SPAX Correlation offers investors an opportunity to gain exposure to SPACs while considering their correlation with broader market dynamics, thereby providing a diversified approach to investing in this asset class.
SPAX Sector is an actively managed exchange-traded fund (ETF) focused on analyzing and investing in U.S.-listed Special Purpose Acquisition Companies (SPACs) within specific sectors of the market. Managed by Robinson Capital Management, LLC, under the supervision of Toroso Investments, LLC, SPAX Sector seeks to provide investors with targeted exposure to SPACs operating within particular industries or sectors. The fund invests at least 80% of its net assets in equity securities, primarily consisting of common stock and warrants of SPACs within chosen sectors. Through a blend of qualitative and quantitative analyses, SPAX Sector evaluates factors such as sector performance, growth prospects, and the historical track records of SPAC sponsors within those sectors. By employing dynamic portfolio management strategies, the fund aims to capitalize on opportunities within selected sectors while managing sector-specific risks. SPAX Sector offers investors a specialized approach to investing in SPACs, allowing them to tailor their exposure to specific sectors of interest while potentially benefiting from the growth potential of SPACs within those sectors.
SPAX Exposure is an actively managed exchange-traded fund (ETF) designed to provide investors with diversified exposure to U.S.-listed Special Purpose Acquisition Companies (SPACs) across various sectors and market capitalizations. Managed by Robinson Capital Management, LLC, under the supervision of Toroso Investments, LLC, SPAX Exposure aims to capture the potential growth opportunities offered by SPACs while managing risk through broad-based exposure. The fund invests at least 80% of its net assets in equity securities, primarily consisting of common stock and warrants of SPACs. Utilizing a combination of qualitative and quantitative analyses, SPAX Exposure evaluates factors such as sector performance, SPAC sponsors' track records, and market capitalizations to construct a diversified portfolio of SPAC investments. By dynamically managing its holdings and monitoring market trends, the fund seeks to optimize its exposure to SPACs while mitigating concentration risks. SPAX Exposure offers investors a comprehensive approach to accessing the potential upside of SPAC investments across a broad spectrum of sectors and market segments.
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