SPAXRobinson Alternative Yield Pre-Merger SPAC ETF
SPAX Fund Description
SPAX is an actively managed fund of small-cap, US-listed SPACs the advisor expects to experience a spike in price in the future.
SPAX Factset Analytics Insight
SPAX is Robinson’s 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.
SPAX Summary Data
SPAX Portfolio Data
SPAX Index Data
SPAX Portfolio Management
SPAX Tax Exposures
SPAX Fund Structure
SPAX Factset Analytics Block Liquidity
This measurement shows how easy it is to trade a $1 million USD block of SPAX. SPAX is rated a N/A out of 5.
SPAX Top 10 Holdings[View All]
SPAX Economic Development
SPAX Performance Statistics
SPAX Benchmark Comparison Summary
SPAX Benchmark Comparison Market Cap Size
Options Strategies for Outcome Investing
A collar strategy is a protective option strategy constructed by writing a call and buying a put with the same expiration date while being long the underlying security.
A covered call is an income strategy constructed by writing a call option against a holding of the underlying security.