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ETFs

PSDN
$--
Today’s Change
-- (--)

Snapshot
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Inception Date
Nov 16 2021
Expense Ratio
1.01%
Type
Global Equities
Fund Owner
Advisor Shares
Volume (1m avg. daily)
$58,506
AUM
$2,753,940
Associated Index
None
Inverse/Leveraged
No
Passive/Active
Active
Fractionable on Composer
No
Prospectus
View

Top 10 Holdings

n/a
BLACKROCK TREASURY TRUST INSTL 62
95.46%
n/a
DERIVATIVES COLLATERAL NOMURA
5.81%
n/a
CASH
-1.26%
Invest with PSDN

What is PSDN?

The Fund is an actively managed exchange-traded fund ( ETF ) that seeks to achieve its investment objective by investing, under normal circumstances, at least 80% of its net assets (plus any borrowings for investment purposes) in (i) securities of companies that derive at least 50% of their net revenue directly from the marijuana and hemp business or from providing services, products or technology to the marijuana and hemp business, and (ii) derivatives 2 that have economic characteristics similar to such securities. The Fund primarily invests in exchange-listed equity securities, including common and preferred stock, of U.S. and foreign mid-, small- and micro-capitalization companies, and in total return swaps intended to provide exposure to such companies. Poseidon Investment Management, LLC (the "Sub-Advisor"), the Funds investment sub-advisor, may seek investment opportunities through initial public offerings ( IPOs ).

ETFs related toPSDN

ETFs correlated to PSDN include MSOS, MJ, PAAA

PSDN
Advisorshares Trust - AdvisorShares Poseidon Dynamic Cannabis ETF
MSOS
Advisorshares Trust - AdvisorShares Pure US Cannabis ETF
MJ
ETF Managers Group LLC - ETFMG Alternative Harvest ETF
PAAA
PGIM ETF Trust - PGIM AAA CLO ETF
KOMP
SPDR Series Trust - SPDR S&P Kensho New Economies Composite ETF
ARKK
ARK Investment Management LLC - ARK Innovation ETF
TARK
Investment Managers Series Trust II - AXS 2X Innovation ETF
ICVT
BlackRock Institutional Trust Company N.A. - iShares Convertible Bond ETF
CWB
SPDR Series Trust - SPDR Bloomberg Convertible Securities ETF
IBUY
Amplify ETF Trust - Amplify Online Retail ETF
ACES
ALPS Fund Services - ALPS Clean Energy ETF

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

PSDN is a Global Equities ETF. The Fund is an actively managed exchange-traded fund ( ETF ) that seeks to achieve its investment objective by investing, under normal circumstances, at least 80% of its net assets (plus any borrowings for investment purposes) in (i) securities of companies that derive at least 50% of their net revenue directly from the marijuana and hemp business or from providing services, products or technology to the marijuana and hemp business, and (ii) derivatives 2 that have economic characteristics similar to such securities. The Fund primarily invests in exchange-listed equity securities, including common and preferred stock, of U.S. and foreign mid-, small- and micro-capitalization companies, and in total return swaps intended to provide exposure to such companies. Poseidon Investment Management, LLC (the "Sub-Advisor"), the Funds investment sub-advisor, may seek investment opportunities through initial public offerings ( IPOs ).

Yes, PSDN 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, PSDN 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 PSDN is -0.0695%. This is the percent change in the value of PSDN over the most recent 1-month period. The 3-month return on PSDN is -0.123%. This is the percent change in the value of PSDN over the most recent 3-month period.

The standard deviation of PSDN for the past year is 0.632%. Standard deviation is the typical amount that the daily returns vary from the mean of the returns over the time period, standardized to a period of a year.

ETFs similar to PSDN include ICLN, GUNR, and EFV.

ETFs correlated to PSDN include MSOS, MJ, and PAAA.

ETFs that are inversely correlated to PSDN include SARK, SRTY, and TZA.

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.