Veridien Climate Action ETF
CLIA
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- Veridien Climate Action ETF (CLIA) is an actively managed, non-transparent exchange-traded fund that seeks long-term growth of capital by investing primarily in US-listed stocks and American Depositary Receipts (ADRs) of global public companies whose technologies, business models, products, or services make substantial contributions to mitigating climate change; this includes sectors such as renewable energy, sustainable infrastructure, energy efficiency, waste management, agriculture, forestry, and low-emission transportation. The fund employs a proprietary five-step research and valuation process to select holdings, concentrating on theme equity with exposure to companies like Tesla Inc., Enphase Energy Inc., First Solar Inc., and Brookfield Renewable Partners LP, among others in areas including solar power, battery storage, clean energy utilities, and climate-resilient materials; it utilizes the Precidian ActiveShares non-transparent model to protect portfolio strategies from front-running. Launched on May 8, 2023, and domiciled in the United States with administrative ties to Tidal Trust II in Milwaukee, Wisconsin, and Veridien Global Investors in Darien, Connecticut, the fund targeted institutional and retail investors focused on climate risk reduction prior to its closure. In August 2024, the Board of Trustees of Tidal Trust II, on the recommendation of adviser Tidal Investments LLC, approved the liquidation and closure of the ETF due to insufficient assets under management, which had dwindled to approximately $4.11 million; trading ceased on the NYSE Arca on August 15, 2024, with final distributions to remaining shareholders occurring around August 20, 2024, marking a significant operational termination and delisting. The fund operated without notable partnerships, acquisitions, funding rounds, or new product launches in the prior 1-2 years, focusing instead on portfolio adjustments amid challenging market conditions for thematic climate ETFs.