Category: Defiance ETFs SPAK

Defiance NextGen SPAC IPO ETF Launches: What Investors Need To Know

An ETF based on special purpose acquisition companies that trades on a U.S. exchange is now available to investors for the first time. 

About The New ETF: The Defiance NextGen SPAC IPO ETF (NYSE: SPAK) began trading Thursday.

The ETF will hold common stock of newly issued SPACs (ex-warrants) and IPOs derived from SPACs.

The ETF will be passively managed and rebalanced quarterly. The expense ratio for the ETF is 0.45%.


“The Defiance team is excited to bring to market the first SPAC ETF. 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,” according to the ETF's prospectus. 

The ETF's Holdings: The SPAC ETF plans on holding an 80% weighting to IPOs from SPACs and a 20% weighting to new SPACs. The ETF will screen IPO companies monthly and new SPACs quarterly.

In the future, the requirements to be included will be a market value between $200 million and $5 billion, a six-month average volume of 2 million shares and a free float of at least 10%.

The top 10 holdings in the SPAC ETF are:

  • DraftKings Inc (NASDAQ: DKNG): 18.75%
  • Clarivate PLC (NYSE: CCC): 12.24%
  • Vertiv Holdings (NYSE: VRT): 9.54%
  • Vivint Smart Home (NYSE: VVNT): 5.15%
  • Open Lending Corp (NASDAQ: LPRO): 4.82%
  • Broadmark Realty Capital (NYSE: BRMK): 4.67%
  • Immunovant Inc (NASDAQ: IMVT): 4.19%
  • Virgin Galactic Holdings (NYSE: SPCE): 3.52%
  • Repay Holdings Corp (NASDAQ: RPAY): 2.96%
  • Churchill Capital Corp III (NYSE: CCXX): 2.91%

The rest of the holdings are: 

  • Immatics NV (NASDAQ: IMTX)
  • Flying Eagle Acquisiton Corp (NYSE: FEAC)
  • Ranpak Holdings Corp (NYSE: PACK)
  • Spartan Energy Acquisition Corp (NYSE: SPAQ)
  • Onespaworld Holdings Ltd (NASDAQ: OSW)
  • Utz Brands Inc (NYSE: UTZ)

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