AXS De-SPAC ETF
DSPC
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- AXS De-SPAC ETF (DSPC) is an exchange-traded fund that seeks to track the performance of the De-SPAC Index, an equally weighted portfolio of 25 of the largest U.S.-listed companies, by market capitalization, that have completed a business combination transaction with a special purpose acquisition company (SPAC) within the prior 12 months; the index is rebalanced monthly to maintain exposure to recent de-SPACs. The fund invests at least 80% of its net assets in the constituent stocks of the index using a full replication strategy, providing investors with targeted exposure to post-merger SPAC performance in the event-driven and arbitrage segments of the equity markets. Launched in May 2021 and listed on NYSE Arca, the ETF is issued by Investment Managers Series Trust II and managed by Tuttle Capital Management, LLC as investment adviser, with AXS Investments LLC serving in an advisory capacity; it targets institutional and retail investors interested in de-SPAC opportunities across various sectors and market capitalizations. In December 2022, Investment Managers Series Trust II announced the closure and subsequent liquidation of the AXS De-SPAC ETF due to poor performance and waning investor interest in de-SPAC strategies amid a broader SPAC market downturn. The fund, which had delivered sharply negative returns including -74% in 2022, -67% in 2023, and -60% in 2024, ceased operations following this announcement, with trading suspended and assets distributed to shareholders. No recent partnerships, acquisitions, funding rounds, or new product launches were reported for the ETF in the last 1-2 years prior to its closure.