SPCK – SPAC and New Issue ETF – ETF Investment Strategy | Morningstar

Morningstar

Strategy

The investment seeks to provide total return. The fund will invest at least 80% of its net assets (plus borrowings for investment purposes) in units and shares of Special Purpose Acquisitions Companies (“SPACs”) that have a minimum capitalization of $100 million and companies that completed an initial public offering (“IPO”) within the last two years. The fund may also invest in depositary receipts or appropriate ETFs for cash management purposes or due to a lack of suitable investment opportunities, the fund may hold up to 20% of its net assets in cash or similar short-term, high-quality debt securities.

Ticker	Name	Share Class Type	Investment Status	Morningstar Rating for Funds Overall	Medalist Rating Overall	Inception Date	Total Net Assets for Share Class	Adjusted Expense Ratio	Fee Level Distribution	Minimum Initial Investment	1-Year Net Flow
SPCK	SPAC and New Issue ETF	ETF	Open		—	Dec 15, 2020	$8.14M	2.320%	—	—	−$579,134.21

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