What is SPKX?

SPKX is geared towards active traders and speculative investors. The fund tracks an index which continuously rolls the two nearest month SPIKES futures contracts as they approach expiration.

PERFORMANCE [as of 11/29/22] 1 MONTH 3 MONTHS YTD 1 YEAR 3 YEARS 5 YEARS 10 YEARS
SPKX -13.61% -14.44% -- -- -- -- --
SPKX (NAV) -13.99% -14.48% -- -- -- -- --
T3 SPIKE Front 2 Futures Index -- -- -- -- -- -- --
CBOE Market Volatility Index -- -- -- -- -- -- --
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

SPKX Factset Analytics Insight

SPKX is geared towards active traders and speculative investors who seek to potentially capitalize on the changes in broad-based US equity volatility. The fund intends to offer an alternative to traditional market volatility products that reference historical volatility based on a broad market index. SPKX tracks an index that measures the expected, or implied, 30-day volatility in the SPDR S&P 500 ETF (SPY) using SPIKES futures. The index uses a proprietary daily average pricing technique that is a blend of trades, bids, and offer prices. The SPKX fund allocates equally to the front month and second month SPIKES futures. The fund then continuously rolls, on a daily basis, the front month SPIKES futures contracts to the next available month. Users of SPKX should keep the fund is expected to be significantly more volatile than SPY, costs of daily rolling process can negatively impact daily return, and monitor position limits of futures contracts.

SPKX Summary Data

08/15/22
0.65%
$2.40M
T3 SPIKE Front 2 Futures Index
CBOE Market Volatility Index
Open-Ended Fund

Peers

CBOE Market Volatility Index

Fund Flows

$0.00B 5 Days
$0.00B 30 Days
+$0.00B 90 Days

SPKX Portfolio Data

S&P 500 Short-Term
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N/A
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SPKX Index Data

T3 SPIKE Front 2 Futures Index
Single Asset
Single Asset
CBOE Market Volatility Index

SPKX Portfolio Management

0.65%
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SPKX Tax Exposures

20.00% / 39.60%
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No distributions
No

SPKX Fund Structure

Open-Ended Fund
No
--
-- / --
N/A
N/A
Low
N/A

Factset Analytics Block Liquidity

As of 11/30/22

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

SPKX Tradability

2,749
$71.69K
345
$9.66K
0.12%
$0.04
-0.06%
0.65% / -0.77%
None
100.00%
25,000
0.01
--
--
29
$23.57
5

SPKX Asset Allocation

Short
Long
Net
Equity
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--
--
Fixed Income
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--
--
Commodities
--
--
--
Currency
--
--
--

SPKX Performance Statistics

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SPKX Top 5 Holdings Long

46.39%

SPKX Top 5 Holdings Short

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SPKX Correlations (Daily Returns 12 Mo)

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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.