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SPAQ
-8.68 · -8.52%
$93.10 · NASDAQ

Horizon Kinetics SPAC Active ETF (SPAQ) ETF Analysis | Financial

Horizon Kinetics · USA
AUM:$9.9M
#– of – in Financial ETFs

Educational tool only – Figures are based on historical data, holdings and expense metrics for informational purposes. This is not financial advice or a recommendation to buy or sell any security. Always conduct your own research or consult a qualified financial adviser.

Market Performance

Up 5.3% over the past year, showing positive momentum.

Cost Efficiency

Ongoing charge of 0.85% — above average for this category.

What is SPAQ?

The fund is an actively-managed exchange-traded fund that pursues its investment objective primarily by investing, under normal circumstances, in special purpose acquisition companies ("SPACs") that, the fund"s investment sub-adviser, believes will generate net realized capital gains in excess of the income derived from bank certificates of deposit with similar maturities.

Performance Highlights

Returns (%)
Top Sectors (%)

Investment Breakdown

Positive 1-Year Return
SPAQ returned 5.3% over the past year. Historical returns only — past performance is not indicative of future results.
Higher Cost Profile
Expense ratio of 0.85% is above average. Verify whether the strategy justifies the cost.
Moderate Concentration
Top 10 holdings make up 36.4% of the ETF — a moderate level of name concentration.
ETF Information
AUM$9.9M
Expense Ratio0.85%
Dividend Yield15.49%
Holdings13
Inception DateJan 2023
Domicile–
Distribution–
Index–
ProviderHorizon Kinetics
Beta0.10
CategoryFinancial
CurrencyUSD
Portfolio Impact

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Example preview
6168
+7 points · better diversified

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Compare Equity
Uses ISF.L (iShares FTSE 100 ETF)
Indicators

Performance Metrics

Historical returns

6M
+3.2%
1Y
+5.1%
3Y
+17.8%
5Y
+22.3%
OpenBook InsightIf you had invested £10,000 in SPAQ 5 years ago, it would have grown to £12,233 — a gain of £2,233.

Annual Returns

Calendar year performance

SPAQ delivered positive returns in 4 of the last 4 calendar years.
YearSPAQ
2026 YTD+3.5%
2025+7.4%
2024+4.7%
2023+5.5%
CAGR 3yr+5.9%
4/4 positive yearsAvg return: +5.3%Worst year: +3.5% (2026)

Technical Analysis Summary

Automated insights from historical price action and indicators

Technical Regime: MIXED
Trend Strength
100%
Positive
Volatility
3.1%
Low
Momentum
-0.0%
30-day change
Support Level
93.27
Key floor
Key Insights
  • Price is currently trading above all key moving averages.
  • Price is consolidating, with low momentum over the recent period.
  • Low volatility environment with a narrower recent trading range.
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