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ETFs

Noble Absolute Return ETF

NOPE
$--
Today’s Change
-- (--)

Snapshot
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Inception Date
Sep 27 2022
Expense Ratio
1.82%
Type
Global Equities
Fund Owner
Noble-Impact Capital
Volume (1m avg. daily)
$335,304
AUM
$27,885,330
Associated Index
None
Inverse/Leveraged
No
Passive/Active
Active
Fractionable on Composer
No
Prospectus
View

Top 10 Holdings

n/a
Cash & Other
174.13%
BIL
SPDR Series Trust - SPDR Bloomberg 1-3 Month T-Bill ETF
32.09%
AMRK
A-Mark Precious Metals Inc
1.19%
QQQ
Invesco Capital Management LLC - Invesco QQQ Trust Series 1
0.12%
IWM
BlackRock Institutional Trust Company N.A. - iShares Russell 2000 ETF
0.06%
GLD
SSgA Active Trust - SPDR Gold Shares ETF
0.06%
IWD
BlackRock Institutional Trust Company N.A. - iShares Russell 1000 Value ETF
0.05%
XOP
SPDR Series Trust - SPDR Oil & Gas Exploration and Production ETF
0.04%
AVGO
Broadcom Inc
0.03%
SPHB
Invesco Capital Management LLC - Invesco S&P 500 High Beta ETF
0.02%
Invest with NOPE

What is NOPE?

The Fund is an actively-managed exchange-traded fund ("ETF") that seeks to achieve its investment objective by purchasing long positions in securities expected to increase in price and/or taking short positions in securities expected to decline in price. The Fund will generally have net exposure ranging from 100% short to 150% long. When the value of the Fund's outstanding short positions is equal to the Fund's net assets, the Fund is 100% short. The Fund's net exposure at any time is the total of the Fund's percentage long holdings (including leverage) less the Percentage of its short holdings.

ETFs related toNOPE

ETFs correlated to NOPE include SARK, HDGE, WEBS

NOPE
Tidal ETF Trust - Noble Absolute Return ETF
SARK
Investment Managers Series Trust II - AXS Short Innovation Daily ETF
HDGE
Advisorshares Trust - Ranger Equity Bear -1x Shares
WEBS
Direxion Shares ETF Trust - Direxion Daily Dow Jones Internet Bear -3X Shares
FNGD
Bank of Montreal - MicroSectors FANG+ Index -3X Inverse Leveraged ETNs
BERZ
Bank of Montreal - MicroSectorsTM Solactive FANG & Innovation -3X Inverse Leveraged ETNs
SQQQ
ProShares Trust - ProShares UltraPro Short QQQ -3x Shares
QID
ProShares Trust - ProShares UltraShort QQQ -2x Shares
PSQ
ProShares Trust - ProShares Short QQQ -1x Shares
HIBS
Direxion Shares ETF Trust - Direxion Daily S&P 500 High Beta Bear 3X Shares
BTAL
AGF Investments Trust - AGF U.S. Market Neutral Anti-Beta Fund

What is ETF correlation?

Correlation is a measure of the strength of the relationship between two ETFs. It quantifies the degree to which prices of the two ETFs typically move together.

Here, correlation is measured over the past year with the Pearson correlation coefficient (Pearon’s r), which ranges from -1 to 1.

Using ETF correlations in portfolio and strategy construction

ETF correlations can help you create investing strategies and portfolios. Use them to:

  • •Build a diversified portfolio from uncorrelated or inversely correlated ETFs with the aim of minimizing portfolio risk.
  • •Compare correlated or related ETFs to find one with a lower expense ratio or higher trading volume.
  • •Create an investing strategy that hedges an ETF with an uncorrelated or inversely correlated ETF.

FAQ

NOPE is a Global Equities ETF. The Fund is an actively-managed exchange-traded fund ("ETF") that seeks to achieve its investment objective by purchasing long positions in securities expected to increase in price and/or taking short positions in securities expected to decline in price. The Fund will generally have net exposure ranging from 100% short to 150% long. When the value of the Fund's outstanding short positions is equal to the Fund's net assets, the Fund is 100% short. The Fund's net exposure at any time is the total of the Fund's percentage long holdings (including leverage) less the Percentage of its short holdings.

Yes, NOPE is actively managed. In an actively managed fund, the fund manager makes decisions about how funds are invested. A passively managed fund typically tries to track or follow a market index.

No, NOPE is not passively managed. It is actively managed. A passively managed fund typically tries to track or follow a market index. In an actively managed fund, the fund manager makes decisions about how funds are invested.

The 1-month return on NOPE is -0.1041%. This is the percent change in the value of NOPE over the most recent 1-month period. The 3-month return on NOPE is -0.0847%. This is the percent change in the value of NOPE over the most recent 3-month period.

ETFs similar to NOPE include ICOW, BUYW, and RODM.

ETFs correlated to NOPE include SARK, HDGE, and WEBS.

ETFs that are inversely correlated to NOPE include GAPR, ARKW, and TARK.

Disclaimers

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We show information directly obtained from our data provider, Xignite. Data shown here is provided by Xignite, an unaffiliated third party. Composer believes the information shown here is reliable, but has not been verified and there is no guarantee that the information is accurate.

**

We show information based on calculations performed by Composer using data from our provider. Information provided here is based on calculations performed by Composer using data sourced from Xignite, an unaffiliated third party. Composer believes this information is reliable, but has not verified the data and there is no guarantee that the calculations are accurate.