DRVN

Highland HFR Event-Driven ETF
N/A

N/A
  • Overview
  • Efficiency
  • Tradability
  • Fit

DRVN Fund Description

The Highland HFR Event-Driven ETF tracks a multi-asset index designed to mimic the returns of hedge funds that use event-driven strategies.

DRVN Factset Analytics Insight

This fund is closed. Its last day of trading was 4/11/16.

DRVN is the first challenger to QED as an ETF that tracks the holdings of hedge funds that employ event-driven strategies. These strategies typically consist of (but aren’t limited to) changes in management, major product launches, mergers, spin-offs, bankruptcies and other restructuring. DRVN does not hold the hedge funds; rather, it holds a mix of ETFs and single securities that reflect the holdings of hedge funds reporting to the index. This approach differs from ETFs like QED that use replication math to pick securities, and is closer in spirit to “copycat” ETFs like GURU that glean holdings information from 13-F filings. As hedge-fund-style ETFs go, DRVN charges a slightly cheaper-than-average expense ratio. Trade the new fund with care in early days.

  • 1 Month
  • 3 Months
  • YTD
  • 1 Year
  • 3 Years
  • 5 Years
  • Max
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DRVN Summary Data

Highland Capital
Highland
06/01/15
Open-Ended Fund
0.85%
$2.48M
$285.27K
3.9%

DRVN Portfolio Data

Hedge Fund Replication
0.00%
N/A
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DRVN Index Data

HFRL Event-Driven Index
Proprietary
Proprietary
90-Day Constant-Maturity U.S. Treasury Yield
Total Return
  • 1 Month
  • 3 Months
  • YTD
  • 1 Year
  • 3 Years
  • 5 Years
  • Max

DRVN Portfolio Management

0.85%
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DRVN Tax Exposures

20% / 39.6%
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Qualified dividends
No

DRVN Fund Structure

Open-Ended Fund
Yes
No
No Policy
N/A
N/A
Closing
daily
Bats Book Viewer
TOP OF BOOK
SHARES/SIZEPRICE
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BIDS----
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LAST 10 TRADES
TIMEPRICESHARES
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Bats BZX Real-time Quote - 23:59:59
Daily Spread
Premium/Discount
Volume

DRVN Factset Analytics Block Liquidity

As of 11/22/17
5
4
3
2
1

This measurement shows how easy it is to trade a $1 million USD block of DRVN. DRVN is rated a 4 out of 5.

DRVN Tradability

17,133
$285.27K
0
0
3.9%
$0.65
0.83%
9.25% / -2.55%
None
100%
50,000
0
0.00%
0.01%
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$16.7
4

DRVN Asset Allocation

Short
Long
Net
0.00%
0.00%

0.00%

0.00%
0.00%

0.00%

0.00%
0.00%

0.00

0.00%
0.00%

0.00%

DRVN Top 5 Holdings – Long

DRVN Top 5 Holdings – Short

DRVN Performance Statistics

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DRVN Correlations (Daily Returns 12 Mo)
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The fund’s correlation vs. a broad benchmark: MSCI ACWI FM IMI Index

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The fund’s correlation vs. a broad benchmark: Barcap Multiverse Index

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The fund’s correlation vs. a broad benchmark: S&P GSCI Index

Correlation (Rolling 30 Day, 12 Mo)

This chart is unavailable