Sparkline Intangible Value ETF
ITAN
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- Sparkline Intangible Value ETF (ITAN) is an actively managed exchange-traded fund that seeks long-term capital appreciation by investing primarily in U.S.-listed equity securities of companies appearing undervalued relative to an expanded definition of intrinsic value, incorporating traditional tangible assets alongside four key pillars of intangible value: intellectual property, brand equity, human capital, and network effects. The fund employs proprietary quantitative methods, including state-of-the-art natural language processing, machine learning, and alternative data sources such as patents, social media, job postings, and earnings calls to quantify these often-overlooked intangible assets and identify undervalued stocks across sectors like information technology, communications, healthcare, consumer discretionary, and industrials. ITAN holds a diversified portfolio of approximately 154 securities, including top positions in Amazon.com Inc., Alphabet Inc., International Business Machines Corp., and Pfizer Inc., with net assets of $64.44 million, an expense ratio of 0.50%, and trading on the NYSE under ticker ITAN (CUSIP: 02072L771); it is distributed by PINE Distributors, LLC, advised by Empowered Funds, LLC (doing business as ETF Architect), and subadvised by Sparkline Capital LP. Launched on June 28, 2021, the fund operates from a U.S. domicile with a focus on mid- and large-cap value-oriented equities that exhibit elevated exposure to intangible factors, targeting investors seeking to modernize traditional value investing in an asset-light, information-based economy. In September 2024, Sparkline Capital expanded its intangible value strategy with the launch of the Sparkline International Intangible Value ETF (DTAN), a complementary actively managed fund providing exposure to non-U.S. developed market stocks undervalued on similar intangible criteria, listed on NYSE Arca with a 0.55% expense ratio and mirroring ITAN's methodology to broaden global access to the approach. This strategic extension builds on ITAN's established framework, which has accumulated over $64 million in assets since inception while maintaining active management flexibility amid sector-specific risks in technology, healthcare, and communications. No recent acquisitions, funding rounds, or operational reorganizations have been reported for ITAN within the last two years, underscoring its steady evolution as a core offering in Sparkline's lineup of intangible-focused ETFs.