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ETFs

Valkyrie ETF Trust II Valkyrie Bitcoin Miners ETF

WGMI
$--
Today’s Change
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Snapshot
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Inception Date
Feb 07 2022
Expense Ratio
0.75%
Type
Global Equities
Fund Owner
Valkyrie Funds
Volume (1m avg. daily)
$1,336,608
AUM
$13,855,855
Associated Index
None
Inverse/Leveraged
No
Passive/Active
Active
Fractionable on Composer
No
Prospectus
View

Top 10 Holdings

RIOT
Riot Platforms Inc
10.57%
IREN
Iris Energy Ltd
10.53%
CLSK
Cleanspark Inc
10.19%
MARA
Marathon Digital Holdings Inc
9.77%
CIFR
Cipher Mining Inc
9.40%
APLD
Applied Digital Corporation
4.99%
BTDR
Bitdeer Technologies Holding Co - Ordinary Shares - Class A
4.91%
NVDA
NVIDIA Corp
4.84%
HIVE
HIVE Digital Technologies Ltd.
4.80%
BITF
Bitfarms Ltd.
4.79%
Invest with WGMI

What is WGMI?

WGMI is an actively managed ETF available through Nasdaq that invests in public companies in the bitcoin mining industry. Companies are screened based on their usage of renewable energy. It invests at least 80% of its net assets (plus borrowings for investment purposes) in securities of companies that derive at least 50% of their revenue or profits from bitcoin mining operations and/ or from providing specialized chips, hardware and software or other services to companies engaged in bitcoin mining.

ETFs related toWGMI

ETFs correlated to WGMI include BKCH, FDIG, BLOK

WGMI
Valkyrie ETF Trust II - Valkyrie Bitcoin Miners ETF
BKCH
Global X Funds - Global X Blockchain ETF
FDIG
Fidelity Covington Trust - Fidelity Crypto Industry and Digital Payments ETF
BLOK
Amplify ETF Trust - Amplify Transformational Data Sharing ETF
CONY
Tidal Trust II - YieldMax COIN Option Income Strategy ETF
BITX
Volatility Shares Trust - 2x Bitcoin Strategy ETF
BITO
ProShares Trust - ProShares Bitcoin Strategy ETF
BTF
Valkyrie ETF Trust II - Valkyrie Bitcoin Strategy ETF
CONL
GraniteShares ETF Trust - GraniteShares 1.5x Long Coinbase Daily ETF
ARKW
ARK Investment Management LLC - ARK Next Generation Internet ETF
ARKF
ARK ETF Trust - ARK Fintech Innovation 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

WGMI is a Global Equities ETF. WGMI is an actively managed ETF available through Nasdaq that invests in public companies in the bitcoin mining industry. Companies are screened based on their usage of renewable energy. It invests at least 80% of its net assets (plus borrowings for investment purposes) in securities of companies that derive at least 50% of their revenue or profits from bitcoin mining operations and/ or from providing specialized chips, hardware and software or other services to companies engaged in bitcoin mining.

Yes, WGMI 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, WGMI 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 WGMI is -0.1498%. This is the percent change in the value of WGMI over the most recent 1-month period. The 3-month return on WGMI is -0.2387%. This is the percent change in the value of WGMI over the most recent 3-month period.

The standard deviation of WGMI for the past year is 0.8079%. 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 WGMI include PBW, IGF, and ARKK.

ETFs correlated to WGMI include BKCH, FDIG, and BLOK.

ETFs that are inversely correlated to WGMI include BITI, SARK, and BTAL.

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.