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ETFs

ConvexityShares Daily 1.5X SPIKES Futures ETF

SPKY
$—
Today’s Change
— (—)

Snapshot
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Inception Date
Aug 16, 2022
Expense Ratio
0.79%
Type
US Equities
Fund Owner
ConvexityShares
Volume (1m avg. daily)
$23,543
AUM
$460,920
Associated Index
SPIKES Futures Short-Term Index
Inverse/Leveraged
Leveraged (1.5x)
Passive/Active
Passive
Fractionable on Composer
No
Prospectus
View

Top 10 Holdings

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Cash & Other
100%
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Derivatives offset
-146.84%
Invest with SPKY
Trade SPKY Options

What is SPKY?

SPKY offers exposure to a daily rolling long position in the SPIKES Futures contracts. For every 1% daily movement in the SPIKES Futures Short-Term Index, the SPKY Fund seeks to move 1.5%. The Funds seek to offer exposure to forward equity market volatility by obtaining exposure to the components of the Index. The Index is an investable index that measures the daily performance of a theoretical portfolio of first- and second-month futures contracts on the SPIKES Index.

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ETFs related toSPKY

ETFs correlated to SPKY include UVIX, VIXY, UVXY

SPKY
ConvexityShares Trust - ConvexityShares Daily 1.5x SPIKES Futures ETF
UVIX
Volatility Shares Trust - 2x Long VIX Futures ETF
VIXY
ProShares Trust - ProShares VIX Short-Term Futures ETF
UVXY
ProShares Trust - ProShares Ultra VIX Short-Term Futures ETF 2x Shares
VXX
Barclays Bank PLC - iPath? Series B S&P 500? VIX Short-Term FuturesTM ETN
VIXM
ProShares Trust - ProShares VIX Mid-Term Futures ETF
FAZ
Direxion Shares ETF Trust - Direxion Daily Financial Bear 3x Shares
RWM
ProShares Trust - ProShares Short Russell2000 -1x Shares
SRTY
ProShares Trust - ProShares UltraPro Short Russell2000 -3x Shares
TZA
Direxion Shares ETF Trust - Direxion Daily Small Cap Bear 3X Shares
SH
ProShares Trust - ProShares Short S&P500 -1x Shares

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

SPKY is a US Equities ETF. SPKY offers exposure to a daily rolling long position in the SPIKES Futures contracts. For every 1% daily movement in the SPIKES Futures Short-Term Index, the SPKY Fund seeks to move 1.5%. The Funds seek to offer exposure to forward equity market volatility by obtaining exposure to the components of the Index. The Index is an investable index that measures the daily performance of a theoretical portfolio of first- and second-month futures contracts on the SPIKES Index.

SPKY tracks the SPIKES Futures Short-Term Index.

No, SPKY is not actively managed. It is passively 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.

Yes, SPKY is passively 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 SPKY is -0.1573%. This is the percent change in the value of SPKY over the most recent 1-month period. The 3-month return on SPKY is -0.2253%. This is the percent change in the value of SPKY over the most recent 3-month period.

The standard deviation of SPKY for the past year is 0.7569%. 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 SPKY include SPKX, SSO, and QID.

ETFs correlated to SPKY include UVIX, VIXY, and UVXY.

ETFs that are inversely correlated to SPKY include SVIX, SVXY, and LGRO.

Yes, SPKY is a Leveraged (1.5x) ETF: This means that SPKY will try to match the performance of SPIKES Futures Short-Term Index, but with 1.5x the returns.

No, SPKY is not an inverse ETF.

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.