DKRB Decarbonization ETF
The Subversive Decarbonization ETF (Ticker: DKRB) primarily invests in equity securities of companies that are decarbonizing the energy sector. That includes investments in nuclear, wind, solar, and more efficient uses of oil and gas. It also includes supporting the underlying decarbonization infrastructure, the technology, and tools necessary to decarbonize the global energy supply chain.
Targets will include companies dedicated to battery technology, wind and solar networks, nuclear energy, infrastructure, complimentary technology, and other companies involved in the production, distribution, and delivery of water and pricing of carbon.
Under normal market conditions, the Fund will invest at least 80% of its net assets (plus any borrowings for investment purposes) in securities of Decarbonization Companies.
In selecting investments for the Fund, we will primarily utilize quantitative factors while also considering qualitative ones, with a view toward growth and earning potential. In the selection process, we will give greater weight to Decarbonization Companies whose primary business models and growth prospects are aligned with building either infrastructure or applications that are necessary for decarbonization.
While renewable energy sources are likely not the sole, ultimate solution to decarbonization, we believe there is currently both economic and social value in renewable businesses. The Fund may, from time to time, invest in both wind and solar networks, but will consider whether such investments are appropriate for inclusion in DKRB’s portfolio on a cash flow valuation basis rather than the future valuation often
given to green energy projects. Notably, the Fund does not consider “decarbonization” to mean “no carbon”. Rather, DKRB will invest in companies that stand to benefit from the global economic trend toward decarbonization. As a result, some anticipated portfolio companies will have exposure to natural gas as a transitory fuel, while generally avoiding crude oil.
|FUND DATA & PRICING|
|Net Assets as of 12/07/2023||$627,740.33|
|Median 30 Day Spread||2.27%|
Data as of 12/07/2023
IOPV, or Indicative Optimized Portfolio Value, is a calculation disseminated by the stock exchange that approximates the Fund’s NAV every fifteen seconds throughout the trading day.
Median 30 Day Spread is a calculation of Fund’s median bid-ask spread, expressed as a percentage rounded to the nearest hundredth, computed by: identifying the Fund’s national best bid and national best offer as of the end of each 10 second interval during each trading day of the last 30 calendar days; dividing the difference between each such bid and offer by the midpoint of the national best bid and national best offer; and identifying the median of those values.
|30 Day SEC Yield *|
|PERFORMANCE||As of 09/30/2023|
|QUARTER||1 YEAR||3 YEAR||SINCE INCEPTION|
Expense ratio: 0.75%
The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted. Performance current to the most recent month-end can be obtained by calling (877-291-4040 ).
Short term performance, in particular, is not a good indication of the fund’s future performance, and an investment should not be made based solely on returns.
Market Price: The current price at which shares are bought and sold. Market returns are based upon the last trade price.
NAV: The dollar value of a single share, based on the value of the underlying assets of the fund minus its liabilities, divided by the number of shares outstanding. Calculated at the end of each business day.
|EX-DATE||RECORD DATE||1 YEAR||PAYABLE DATE|
|TOP 10 HOLDINGS|
|% OF NET ASSETS||NAME||TICKER||CUSIP||SHARES HELD||MARKET VALUE|
|13.46%||Cash & Other||Cash&Other||Cash&Other||84,463||84,462.84|
|8.87%||CAMECO CORP||CCO CN||2166160||1,258||55,653.07|
|8.40%||URANIUM ENERGY CORP||UEC||916896103||8,000||52,720.00|
|5.96%||Encore Energy Corp||EU CN||BN48958||8,954||37,405.74|
|5.28%||SPROTT PHYSICAL URANIUM TRUS||U-U CN||BNZKG52||1,684||33,156.09|
|5.28%||NEXGEN ENERGY LTD||NXE CN||B987K72||5,007||33,143.09|
|5.21%||Mega Uranium Ltd||MGA CN||2817833||103,322||32,676.39|
|4.65%||BANNERMAN ENERGY L||BMN AU||B07DXJ1||16,804||29,188.25|
|4.44%||KAZATOMPROM JSC NA||KAP LI||BGXQL36||720||27,864.00|
Data as of 12/08/2023. Holdings are subject to change.