Defiance ETFs Launches the First SPAC ETF

NEW YORK–([1])–Defiance ETFs[2] has announced the launch of the first SPAC ETF (NYSE: SPAK[3]), Defiance Next Gen SPAC Derived ETF[4], available for trading today. SPAK joins Defiance’s growing suite of first-mover thematic ETFs, including FIVG[5] (5G ETF) and IBBJ[6] (Junior Biotech ETF).

“The Defiance team is excited to bring to market the first SPAC ETF (NYSE: SPAK[7]). Picking the winners of individual SPACs can be very difficult, however the ETF structure allows investors to access the most liquid SPAC IPOs in a diversified basket. SPAK[8] allows both financial advisors and retail investors to participate in an IPO private equity style of investing, which until now, was only available to large financial institutions,” a statement issued by Defiance ETFs[9] earlier this morning.

About Defiance: Founded in 2018, Defiance ETFs is an exchange-traded funds (ETFs) sponsor and registered investment advisor focused on thematic investing. Our suite of rules-based ETFs allows retail and institutional investors to express a targeted view on dynamic sub-sectors that area leading the way in disruptive innovations.

Index Description: The Indxx SPAC & NextGen IPO Index is a passive rules-based index that tracks the performance of the common stock of newly listed Special Purpose Acquisitions Corporations (“SPACs”), ex-warrants, and initial public offerings (“IPOs”) derived from Special Purpose Acquisitions Corporations.

The Funds’ investment objectives, risks, charges, and expenses must be considered carefully before investing. The prospectus contains this and other important information about the investment company. Please read it carefully before investing. A hard copy of the prospectus can be requested by calling 833.333.9383.

Investing involves risk. Principal loss is possible. As an ETF, the fund may trade at a premium or discount to NAV. Shares of any ETF are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. The equity securities held in the Fund’s portfolio may experience sudden, unpredictable drops in value or long periods of decline in value. This may occur because of factors that affect securities markets generally or factors affecting specific issuers, industries, or sectors in which the Fund invests. Investments in non-U.S. securities involve certain risks that may not be present with investments in U.S. securities. For example, investments in non-U.S. securities may be subject to risk of loss due to foreign currency fluctuations or to political or economic instability. Investments in non-U.S. securities also may be subject to withholding or other taxes and may be subject to additional trading, settlement, custodial, and operational risks. These and other factors can make investments in the Fund more volatile and potentially less liquid than other types of investments. The Fund invests in companies that have recently completed an IPO or are derived from a SPAC. These companies may be unseasoned and lack a trading history, a track record of reporting to investors, and widely available research coverage. IPOs are thus often subject to extreme price volatility and speculative trading. These stocks may have above-average price appreciation in connection with the IPO prior to inclusion in the Index. The price of stocks included in the Index may not continue to appreciate and the performance of these stocks may not replicate the performance exhibited in the past. In addition, IPOs may share similar illiquidity risks of private equity and venture capital. The free float shares held by the public in an IPO are typically a small percentage of the market capitalization. The ownership of many IPOs often includes large holdings by venture capital and private equity investors who seek to sell their shares in the public market in the months following an IPO when shares restricted by lock-up are released, causing greater volatility and possible downward pressure during the time that locked-up shares are released. The Fund is considered to be non-diversified, which means that it may invest more of its assets in the securities of a single issuer or a smaller number of issuers than if it were a diversified fund. As a result, the Fund may be more exposed to the risks associated with and developments affecting an individual issuer or a smaller number of issuers than a fund that invests more widely. This may increase the Fund’s volatility and cause the performance of a relatively smaller number of issuers to have a greater impact on the Fund’s performance. The Fund is new with a limited operating history.

SPAK is distributed by Foreside Fund Services, LLC

References

  1. ^ (www.businesswire.com)
  2. ^ Defiance ETFs (cts.businesswire.com)
  3. ^ SPAK (cts.businesswire.com)
  4. ^ Defiance Next Gen SPAC Derived ETF (cts.businesswire.com)
  5. ^ FIVG (cts.businesswire.com)
  6. ^ IBBJ (cts.businesswire.com)
  7. ^ SPAK (cts.businesswire.com)
  8. ^ SPAK (cts.businesswire.com)
  9. ^ Defiance ETFs (cts.businesswire.com)

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