An actively managed SPAC ETF debuts

  • An actively managed ETF that's designed to give investors exposure to special purpose acquisition companies launches today on the New York Stock Exchange.
  • The SPAC and New Issue ETF (NYSE:SPCX) "offers investors a broad portfolio of SPACs within the familiar liquid and tax-efficient wrapper of an ETF," said Matthew Tuttle, CEO and chief investment officer of Tuttle Tactical Management, which serves as the adviser to SPCX.
  • "While the IPO pipeline looks robust for 2021, the SPAC market is one of rapid change and opportunity," Tuttle said. "As a result, we feel the most appropriate strategy for managing a portfolio of SPACs is through active management as it can be more flexible in reacting to market events."
  • Expense ratio is 0.95%.
  • Created as an alternative to the traditional IPO process, SPAC IPOs have accelerated this year. Through Dec. 8, there have been 217 SPAC IPOs year-to-date, with gross proceeds exceeding $74B vs. 59 SPAC IPOs in 2019 representing $13.6B in gross proceeds.
  • Goldman sees the SPAC boom continuing into 2021.

Recommended For You

Comments (9)

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.