Subversive Decarbonization ETF (DKRB) is an actively managed exchange-traded fund that seeks to achieve its investment objective by investing primarily in equity securities of companies involved in nuclear technology, infrastructure supporting decarbonization efforts, battery technologies, rare earth minerals, wind and solar networks, hydropower assets, water and carbon credits, and futures contracts linked to longer-term appreciation of decarbonization companies. The fund targets the energy, water, and environmental sectors to reduce reliance on fossil fuels while powering the modern world; it offers exposure to U.S.-listed common stocks, American Depositary Receipts, and equities from developed and emerging markets. Launched on December 23, 2022, and managed by Subversive Capital Advisor LLC—a New York-based registered investment advisor founded around 2013 with headquarters at 217 Centre Street, Suite 122, New York, New York—the ETF operates globally with a 0.75% management fee.
In a significant operational change, Subversive Capital Advisor LLC recommended, and the Board of Trustees of Series Portfolios Trust approved, the termination and liquidation of DKRB, along with the Subversive Food Security ETF (KCAL) and Subversive Mental Health ETF (SANE). The ETF's final day of trading occurred on March 27, 2024, with delisting effective March 28, 2024, due to liquidation; shareholders unable to sell by the cutoff received automatic cash redemptions based on net asset value, subject to customary brokerage charges. Prior to closure, the firm expanded its ETF suite through strategic partnerships, including a collaboration with Unusual Whales in early 2023 to launch the Unusual Whales Subversive Democratic ETF (NANC) and Republican ETF (KRUZ), complementing DKRB alongside the Subversive Metaverse ETF (PUNK). These developments reflect Subversive Capital's focus on mission-driven emerging sectors for institutional and retail investors.