SPCX — SPAC and New Issue ETF ☆

The investment seeks to provide total return. In pursuing the fund's investment objective, the fund will invest at least 80% of its net assets (plus any borrowings for investment purposes) in units and shares of Special Purpose Acquisitions Corporations ("SPACs") that have a minimum capitalization of $100 million and companies that completed an initial public offering ("IPO") within the last two years. It may also invest in depositary receipts 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.