AXS Short China Internet ETF
SWEB
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- AXS Short China Internet ETF (SWEB) provides inverse exposure to the performance of China-based internet companies. The actively managed exchange-traded fund seeks daily investment results, before fees and expenses, of -1x the single-day performance of the KraneShares CSI China Internet ETF (KWEB), achieved through swap agreements with major global financial institutions. Launched on May 2, 2022, by AXS Investments LLC, headquartered in Port Chester, New York, the ETF targets investors seeking short positions amid market or geopolitical challenges facing Chinese technology firms. The fund's primary services include daily short exposure to a portfolio of prominent China internet equities such as Alibaba, Tencent, JD.com, Baidu, and Pinduoduo, as tracked by KWEB; it holds no direct securities but relies on derivatives for inverse correlation. AXS Investments offers this as part of its lineup of alternative ETFs focused on leveraged, inverse, and thematic strategies for growth, income, and diversification. Operations are conducted on the NASDAQ Stock Market LLC, with a focus on U.S. investors and global exposure to emerging market risks in Asia. In a significant operational change, the Board of Trustees of Investment Managers Series Trust II approved a Plan of Liquidation for SWEB on May 26, 2023, with trading ceasing on June 16, 2023, and final distributions to shareholders on or about June 26, 2023. This liquidation reflects low assets under management, which stood at approximately $999,639 prior to closure, and marks the ETF's termination without subsequent relaunches or reorganizations noted. No recent partnerships, acquisitions, funding rounds, or new product launches involving SWEB have been reported post-launch.