SPAQ
Horizon Kinetics SPAC Active ETF·NASDAQ
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Key Stats
Assets Under Management
9.90MUSD
Fund Flows (1Y)
-5.22MUSD
Dividend Yield
16.53%
Discount/Premium to NAV
-0.29%
Shares Outstanding
107.50K
Expense Ratio
0.85%
About Horizon Kinetics SPAC Active ETF
Issuer
Horizon Kinetics Asset Management LLC
Brand
Horizon Kinetics
Inception Date
Jan 27, 2023
Structure
Open-Ended Fund
Index Tracked
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Management Style
Active
Dividend Treatment
Distributes
Distribution Tax Treatment
Qualified dividends
Income Tax Type
Capital Gains
Max ST Capital Gains Rate
39.60%
Max LT Capital Gains Rate
20.00%
Primary Advisor
Horizon Kinetics Asset Management LLC
Distributor
Foreside Fund Services LLC
SPAQ aims for realized capital gains over short-term interest rates on a risk-adjusted basis by investing in SPACs and the warrants or rights related to its IPO. To achieve the fund's objective, investments are made with SPACs that are perceived to be offering upside potential when sold after an attractive combination announcement, coupled with redemption options, which are SPACs with an exit permit without investment penalties. The resulting portfolio provides an asymmetric risk and reward profile for investors and may include companies of any capitalization. During temporary periods, the fund may invest up to 100% of its assets in US short-term debt securities and money market instruments. The fund is actively managed.
Classification
Asset Class
Equity
Category
Size and Style
Focus
Total Market
Niche
Broad-based
Strategy
Active
Geography
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Weighting Scheme
Proprietary
Selection Criteria
Proprietary
Returns
1-Month | 3-Month | YTD | 1-Year | 3-Year | 5-Year | |
|---|---|---|---|---|---|---|
Price Performance | -0.01% | -14.18% | +1.00% | -7.39% | -3.71% | -3.25% |
NAV Total Return | +0.64% | -0.01% | +0.70% | +8.75% | +19.51% | +0.16% |
Ratings
No data is currently available
Ainvest’s AI-powered ETF Scoring Algorithm, built to help retail investors make smarter, data-driven decisions. Leveraging deep learning, reinforcement learning, and large language models, the algorithm scores ETFs across five key dimensions: Fund Flow, Momentum, Safety, Fundamentals, and Performance. Each factor is weighted by its correlation to future returns, resulting in a single, actionable score. Backtested over five years with consistently strong predictive accuracy. Ainvest brings institutional-grade artificial intelligence to everyday investors—transforming complexity into clarity with every score.
Holdings Analysis
Sector
Financial Services
100.00%
Financial Services
100.00%
Asset
Region
91.38%
8.62%
Category
Ratio
North America
91.38%
Europe
8.62%
Investment Style
No data is currently available
Top 10 Holdings
Symbol
Ratio
OACC
Oaktree Acquisition
5.34%
DSAC
Duddell Street
5.29%
OTGA
OTG Acquisition I
5.12%
AIIA
AI Infrastructure
5.05%
JACS
Jackson Acquisition
4.89%
ALDF
Aldel Financial II
4.51%
TACH
Titan Acquisition
4.42%
OYSE
Oyster II
4.42%
EVOX
Evolution Global
4.23%
DRDB
Roman DBDR
4.23%
Top 10 Weight 47.5%
61 Total Holdings
Is SPY better than SPAQ?
Dividends
Dividend Payout History
Declaration Date | Record Date | Payment Date | Amount |
|---|---|---|---|
| 2025-12-23 | 2025-12-23 | 2025-12-24 | 0.414 |
| 2024-12-24 | 2024-12-24 | 2024-12-26 | 0.106 |
| 2023-12-27 | 2023-12-28 | 2023-12-29 | 0.030 |
How Much Does SPAQ Pay in Dividends?
Premium/Discount Chart
Assets Under Management
Should I buy SPAQ?
Fund Flows
