Investment Managers Series Trust II - Tradr 2x Short SpaceX Daily ETF
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- Investment Managers Series Trust II – Tradr 2X Short SpaceX Daily ETF is a U.S.-domiciled, actively managed exchange-traded fund that seeks daily investment results, before fees and expenses, corresponding to -200% of the daily performance of Space Exploration Technologies Corp. common stock (Nasdaq: SPCX). Trading under the ticker SPCG on Cboe, the Fund is designed as a short-term tactical investment vehicle for sophisticated investors and professional traders seeking leveraged bearish exposure to SpaceX. The Fund pursues its objective by maintaining at least 80% exposure to financial instruments that provide two times inverse exposure to the reference security, including derivatives such as swap agreements and options, as well as direct or indirect equity-market exposure. It is not intended to provide its stated multiple over periods longer than one trading day, and returns over longer holding periods may differ materially from -200% of the cumulative return of the reference security because of daily rebalancing, leverage, volatility and compounding effects. The Fund is a series of Investment Managers Series Trust II, an open-end management investment company established in the United States and headquartered at 235 West Galena Street, Milwaukee, Wisconsin. SPCG is managed by AXS Investments LLC and marketed under the Tradr ETFs brand; ALPS Distributors Inc. serves as distributor and is not affiliated with AXS Investments or Tradr ETFs. Investment Managers Series Trust II operates as a multi-series trust that sponsors exchange-traded funds and other registered investment products. SPCG’s principal offering is inverse leveraged single-stock exposure to SpaceX through ETF shares that trade on an exchange at market prices. The Fund’s portfolio-management activities include daily exposure targeting and rebalancing; derivative transaction execution; collateral and cash management; and investment in instruments intended to deliver inverse leveraged performance relative to SpaceX shares. Its investor base comprises active traders and other investors able to monitor positions frequently and assess the substantial risks associated with leverage, short exposure, derivative instruments, market volatility and potential loss of principal. The Fund was formed on June 12, 2026, following an effective June 10, 2026 post-effective amendment filed by Investment Managers Series Trust II that registered SPCG and its counterpart, the Tradr 2X Long SpaceX Daily ETF. A major recent business development was the June 15, 2026 launch of SPCG alongside the Cboe-listed Tradr 2X Long SpaceX Daily ETF (SPCM), expanding Tradr ETFs’ leveraged and inverse single-stock ETF lineup to provide both 200% daily bullish and -200% daily bearish exposure to SpaceX following its public-market debut.