Robinson Alternative Yield Pre-merger SPAC ETFRobinson Alternative Yield Pre-merger SPAC ETFRobinson Alternative Yield Pre-merger SPAC ETF

Robinson Alternative Yield Pre-merger SPAC ETF

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Key stats


Assets under management (AUM)
‪8.12 M‬USD
Fund flows (1Y)
‪−10.74 M‬USD
Dividend yield (indicated)
8.06%
Discount/Premium to NAV
−0.2%

About Robinson Alternative Yield Pre-merger SPAC ETF


Issuer
Tidal Investments LLC
Brand
Robinson
Expense ratio
0.86%
Inception date
Jun 22, 2021
Index tracked
No Underlying Index
Management style
Active
SPAX is Robinsons first equity ETF and the first fund to focus solely on small-cap SPACs. The fund is actively managed to hold units, common shares and warrants of small-cap, US-listed SPACs and sell its investments prior to a merger, asset acquisition, or any business combination in an effort to minimize downside risk. The fund adviser uses a combination of qualitative and quantitative analysis in determining its constituents. The qualitative analysis determines the likelihood that a SPAC will be successful in identifying and completing a business combination. The quantitative approach, or what the fund adviser characterizes as the alternative yield strategy, consists of the implied yield-to-worst of the SPAC common shares as well as the value of any attached SPAC warrants. The strategy provides almost zero correlation with traditional fixed income exposure. Due to an active approach, constituent weights may deviate significantly from the usual relative value and market-cap scheme.

Classification


Asset Class
Equity
Category
Size and style
Focus
Small cap
Niche
Broad-based
Strategy
Active
Weighting scheme
Proprietary
Selection criteria
Proprietary

Returns


1 month3 monthsYear to date1 year3 years5 years
Price performance
NAV total return

What's in the fund


As of November 21, 2024
Exposure type
StocksBonds, Cash & Other
Finance
Stocks83.43%
Finance83.42%
Bonds, Cash & Other16.57%
UNIT8.41%
Mutual fund7.70%
Rights & Warrants0.47%
Cash−0.01%
Stock breakdown by region
100%
North America100.00%
Latin America0.00%
Europe0.00%
Asia0.00%
Africa0.00%
Middle East0.00%
Oceania0.00%
Top 10 holdings

Dividends


Dividend payout history

Assets under management (AUM)



Fund Flows