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ETFs

Robinson Alternative Yield Pre-merger SPAC ETF

SPAX
$--
Today’s Change
-- (--)

Snapshot
*

Inception Date
Jun 22 2021
Expense Ratio
0.50%
Type
US Equities
Fund Owner
Robinson Capital
Volume (1m avg. daily)
$105,238
AUM
$21,183,825
Associated Index
None
Inverse/Leveraged
No
Passive/Active
Active
Fractionable on Composer
No
Prospectus
View

Top 10 Holdings

n/a
Cash & Other
6.65%
JUN
Juniper II Corp - Ordinary Shares - Class A
3.00%
NSTC
Northern Star Investment Corp III - Ordinary Shares - Class A
2.96%
NSTD
Northern Star Investment Corp IV - Ordinary Shares - Class A
2.71%
MBAC
M3 Brigade Acquisition II Corp - Ordinary Shares - Class A
2.64%
CPTK
Crown PropTech Acquisitions - Ordinary Shares - Class A
2.58%
ACAB
Atlantic Coastal Acquisition Corp II - Ordinary Shares - Class A
2.50%
PEGR
Project Energy Reimagined Acquisition Corp - Ordinary Shares - Class A
2.47%
ANZU
Anzu Special Acquisition Corp I - Ordinary Shares - Class A
2.46%
ACRO
Acropolis Infrastructure Acquisition Corp - Ordinary Shares - Class A
2.42%
Invest with SPAX

What is SPAX?

The Robinson Alternative Yield Pre-Merger SPAC ETF (SPAX) is an actively managed exchange-trade fund (ETF) that invests in Special Purpose Acquisition Companies (SPACs), also known as blank check companies. SPAX seeks to provide total return while minimizing downside risk. SPAX invests primarily in equity securities, specifically units and shares of common stock and warrants of U.S.-listed SPACs. SPAX expects to invest the majority of its assets in SPACs which are small capitalization companies. The Fund intends to exit any SPAC units, common shares and warrants prior to the completion of a business combination, seeking to minimize downside risk.

ETFs related toSPAX

ETFs correlated to SPAX include IBDY, MUST, VUSB

SPAX
Tidal ETF Trust - Robinson Alternative Yield Pre-merger SPAC ETF
IBDY
iShares Trust - iShares iBonds Dec 2033 Term Corporate ETF
MUST
Columbia ETF Trust I - Columbia Multi-Sector Municipal Income ETF
VUSB
Vanguard Group, Inc. - Vanguard Ultra-Short Bond ETF
JMHI
J.P. Morgan Exchange-Traded Fund Trust - JPMorgan High Yield Municipal ETF
FTSM
First Trust Exchange-Traded Fund III - First Trust Enhanced Short Maturity ETF
FLDR
Fidelity Covington Trust - Fidelity Low Duration Bond Factor ETF
PHB
Invesco Capital Management LLC - Invesco Fundamental High Yield Corporate Bond ETF
CLIP
Global X Funds - Global X 1-3 Month T-Bill ETF
CORP
Pimco Exchange Traded Fund - PIMCO Investment Grade Corporate Bond Index Exchange-Traded Fund
SHYG
BlackRock Institutional Trust Company N.A. - iShares 0-5 Year High Yield Corporate Bond ETF

What is ETF correlation?

Correlation is a measure of the strength of the relationship between two ETFs. It quantifies the degree to which prices of the two ETFs typically move together.

Here, correlation is measured over the past year with the Pearson correlation coefficient (Pearon’s r), which ranges from -1 to 1.

Using ETF correlations in portfolio and strategy construction

ETF correlations can help you create investing strategies and portfolios. Use them to:

  • •Build a diversified portfolio from uncorrelated or inversely correlated ETFs with the aim of minimizing portfolio risk.
  • •Compare correlated or related ETFs to find one with a lower expense ratio or higher trading volume.
  • •Create an investing strategy that hedges an ETF with an uncorrelated or inversely correlated ETF.

FAQ

SPAX is a US Equities ETF. The Robinson Alternative Yield Pre-Merger SPAC ETF (SPAX) is an actively managed exchange-trade fund (ETF) that invests in Special Purpose Acquisition Companies (SPACs), also known as blank check companies. SPAX seeks to provide total return while minimizing downside risk. SPAX invests primarily in equity securities, specifically units and shares of common stock and warrants of U.S.-listed SPACs. SPAX expects to invest the majority of its assets in SPACs which are small capitalization companies. The Fund intends to exit any SPAC units, common shares and warrants prior to the completion of a business combination, seeking to minimize downside risk.

Yes, SPAX is actively managed. In an actively managed fund, the fund manager makes decisions about how funds are invested. A passively managed fund typically tries to track or follow a market index.

No, SPAX is not passively managed. It is actively managed. A passively managed fund typically tries to track or follow a market index. In an actively managed fund, the fund manager makes decisions about how funds are invested.

The 1-month return on SPAX is 0.0097%. This is the percent change in the value of SPAX over the most recent 1-month period. The 3-month return on SPAX is 0.014%. This is the percent change in the value of SPAX over the most recent 3-month period.

The standard deviation of SPAX for the past year is 0.0516%. Standard deviation is the typical amount that the daily returns vary from the mean of the returns over the time period, standardized to a period of a year.

ETFs similar to SPAX include PKW, VIXY, and XYLD.

ETFs correlated to SPAX include IBDY, MUST, and VUSB.

ETFs that are inversely correlated to SPAX include LGRO, TSLR, and GAUG.

Disclaimers

*

We show information directly obtained from our data provider, Xignite. Data shown here is provided by Xignite, an unaffiliated third party. Composer believes the information shown here is reliable, but has not been verified and there is no guarantee that the information is accurate.

**

We show information based on calculations performed by Composer using data from our provider. Information provided here is based on calculations performed by Composer using data sourced from Xignite, an unaffiliated third party. Composer believes this information is reliable, but has not verified the data and there is no guarantee that the calculations are accurate.