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 02/07/2023 $688,700.39
NAV $27.55
Shares Outstanding 25,000
Premium/discount Percentage 0.11%
Closing Price $27.58
Median 30 Day Spread 0.34%

Data as of 02/07/2023

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.

FUND DETAILS
Inception Date 12/22/2022
Primary Exchange CBOE
Ticker DKRB
CUSIP 81752T569
IOPV Symbol DKRB.IV
NAV Symbol DKRB.NV
Expense Ratio 0.75%
30 Day SEC Yield *
PERFORMANCE As of 01/31/2023
  AVG. ANNUALIZED
  QUARTER 1 YEAR 3 YEAR SINCE INCEPTION
Fund NAV 00.00% 00.00% 00.00% 10.63%
Market Price 00.00% 00.00% 00.00% 10.61%
Benchmark Index 00.00% 00.00% 00.00% 5.25%

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.

DISTRIBUTION DETAIL
EX-DATE RECORD DATE 1 YEAR PAYABLE DATE
XXXX XXXX XXXX XXXX
XXXX XXXX XXXX XXXX
TOP 10 HOLDINGS
% OF NET ASSETS NAME TICKER CUSIP SHARES HELD MARKET VALUE
4.83% GENERAC HLDGS INC GNRC 368736104 271 33,232.73
4.55% CAMECO CORP CCJ 13321L108 1,129 31,341.04
4.46% RWE AG RWEOY 74975E303 705 30,702.75
3.95% TRANSALTA RENEWABLES INC RNW CN BCZLSL8 3,065 27,232.76
3.91% NRG ENERGY INC NRG 629377508 770 26,957.70
3.78% KANSAI ELEC POWER 9503 JP 6483489 2,803 26,007.77
3.74% BWX TECHNOLOGIES INC BWXT 05605H100 425 25,733.75
3.73% ALBEMARLE CORP ALB 012653101 92 25,699.28
3.66% PUBLIC SVC ENTERPRISE GRP INC COM PEG 744573106 413 25,197.13
3.62% IBERDROLA SA IBE SM B288C92 2,176 24,913.98

Data as of 02/08/2023. Holdings are subject to change.