Upturn unsubscribed user
$1.14/ day, billed weekly
Cancel anytime
(Ad-Free, Unlimited access)​
NO CREDIT CARD REQUIRED
SPAX
Upturn stock ratingUpturn stock rating

Tidal ETF Trust - Robinson Alternative Yield Pre-Merger SPAC ETF (SPAX)

Upturn stock ratingUpturn stock rating
$20.34
Delayed price
Profit since last BUY1.14%
upturn advisory
Consider higher Upturn Star rating
BUY since 52 days
  • BUY Advisory
  • SELL Advisory (Profit)​
  • SELL Advisory (Loss)​
  • Profit
  • Loss
  • Pass (Skip investing)
Upturn Stock infoUpturn Stock info Stock price based on last close
*as per simulation
(see disclosures)
Time period over
  • ALL
  • YEAR
  • MONTH
  • WEEK

Upturn Advisory Summary

03/06/2025: SPAX (1-star) has a low Upturn Star Rating. Not recommended to BUY.

Upturn Star Rating

ratingratingratingratingrating

Not Recommended Performance

These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.

AI Based Fundamental Rating

ratingratingratingratingrating

Above Average Performance

These Stocks/ETFs, based on Upturn Advisory, frequently surpass the market, reflecting reliable and trustworthy advice.

Analysis of Past Performance

Type ETF
Historic Profit 6.47%
Avg. Invested days 98
Today’s Advisory Consider higher Upturn Star rating
Upturn Star Rating Upturn stock ratingUpturn stock rating
Upturn Advisory Performance Upturn Advisory Performance 4.0
ETF Returns Performance Upturn Returns Performance 2.0
Upturn Profits based on simulationUpturn Profits based on simulation Profits based on simulation
Upturn Profits based on simulationUpturn Profits based on simulation Last Close 03/06/2025

Key Highlights

Volume (30-day avg) 3233
Beta -
52 Weeks Range 19.14 - 21.50
Updated Date 03/28/2025
52 Weeks Range 19.14 - 21.50
Updated Date 03/28/2025

ai summary icon Upturn AI SWOT

Tidal ETF Trust - Robinson Alternative Yield Pre-Merger SPAC ETF

stock logo

ETF Overview

Overview

The Robinson Alternative Yield Pre-Merger SPAC ETF (SPAX) seeks to provide total return by investing primarily in special purpose acquisition companies (SPACs) prior to their merger announcements. It offers exposure to the alternative yield potential of pre-merger SPACs.

Reputation and Reliability

Tidal ETF Trust is an emerging ETF provider. Their reputation is growing, but they lack the long track record of larger, more established firms.

Management Expertise

Robinson Capital Management, LLC sub-advises the ETF, bringing expertise in credit and alternative investments to the SPAC space.

Investment Objective

Goal

To provide total return through investments in pre-merger SPACs.

Investment Approach and Strategy

Strategy: The ETF invests primarily in SPACs before they announce a merger target, seeking to capitalize on the potential upside from merger announcements while mitigating downside risk.

Composition The ETF primarily holds common stock and warrants of pre-merger SPACs. It may also invest in cash and cash equivalents.

Market Position

Market Share: Data unavailable as this is a niche market and market share data is not widely tracked.

Total Net Assets (AUM): Data unavailable.

Competitors

Key Competitors

Competitive Landscape

The SPAC ETF market is relatively concentrated, and the competitive landscape is continuously evolving. Advantages of SPAX may include a specific investment strategy or lower expense ratio, while disadvantages could include lower AUM and trading volume compared to larger competitors.

Financial Performance

Historical Performance: Historical performance data unavailable due to ETF closure.

Benchmark Comparison: Benchmark comparison unavailable due to ETF closure.

Expense Ratio: 0.95

Liquidity

Average Trading Volume

Average trading volume data unavailable due to ETF closure.

Bid-Ask Spread

Bid-ask spread data unavailable due to ETF closure.

Market Dynamics

Market Environment Factors

SPAC performance is influenced by factors such as interest rates, regulatory changes, and overall market sentiment towards growth stocks and alternative investments.

Growth Trajectory

The growth trajectory of the ETF was tied to the SPAC market's boom and bust cycles. Changes to strategy and holdings were influenced by SPAC merger activity and redemptions.

Moat and Competitive Advantages

Competitive Edge

SPAX aimed to provide diversified exposure to the SPAC market with active management. The focus was on pre-merger SPACs, seeking potential upside from merger announcements while mitigating downside risk compared to post-merger companies. However, because the fund shut down, its advantages were not fully realized. Its ability to generate alpha over a passive SPAC index was not established over a long period.

Risk Analysis

Volatility

The ETF's volatility was likely high due to the inherent risk associated with SPACs, which are often speculative investments.

Market Risk

The ETF was exposed to market risk related to the SPAC market, including the risk of unsuccessful mergers, redemptions, and regulatory changes.

Investor Profile

Ideal Investor Profile

The ideal investor for SPAX would have been someone with a high-risk tolerance, seeking exposure to the potential high returns of the SPAC market.

Market Risk

SPAX would have been best suited for active traders or investors looking for short-term gains from SPAC merger announcements, rather than long-term passive index followers.

Summary

SPAX was designed to provide exposure to pre-merger SPACs, offering potential upside from merger announcements. However, due to market conditions and potentially low AUM, the fund was closed. Investors looking at similar offerings should consider the fund's track record, management expertise, and expense ratio. SPACs remain a volatile and speculative asset class.

Similar Companies

  • SPCX
  • SPAQ
  • Defunct SPAC ETFs

Sources and Disclaimers

Data Sources:

  • SEC Filings
  • ETF.com
  • Company Website (Archived)

Disclaimers:

The information provided is for informational purposes only and does not constitute investment advice. Past performance is not indicative of future results. All data is based on available information and may be subject to change. Data unavailable in some cases because the ETF is now closed and data sources no longer provide the information.

Upturn AI SummarizationUpturn AI Summarization AI Summarization is directionally correct and might not be accurate.

Upturn AI SummarizationUpturn AI Summarization Summarized information shown could be a few years old and not current.

Upturn AI SummarizationUpturn AI Summarization Fundamental Rating based on AI could be based on old data.

Upturn AI SummarizationUpturn AI Summarization AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.

About Tidal ETF Trust - Robinson Alternative Yield Pre-Merger SPAC ETF

Exchange NYSE ARCA
Headquaters -
IPO Launch date -
CEO -
Sector -
Industry -
Full time employees -
Website
Full time employees -
Website

The fund will invest at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities, specifically units and shares of common stock and warrants, of U.S.-listed Special Purpose Acquisition Companies ("SPACs"). A SPAC is publicly traded and is formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more other operating companies.

Upturn is now on iOS and Android!

Experience Upturn on your mobile. Install it now!​