SPAQ vs. DBJP ETF Comparison

Comparison of Horizon Kinetics SPAC Active ETF (SPAQ) to db-X trackers MSCI Japan Hedged Equity Fund (DBJP)

SPAQ

Horizon Kinetics SPAC Active ETF

SPAQ Description

As of March 16, 2022, Spartan Acquisition Corp. III was acquired by SPARTAN Acquisition CORP. III, in a reverse merger transaction. Spartan Acquisition Corp. III focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was founded in 2020 and is based in New York, New York.

Grade (RS Rating)

Last Trade

$99.08

Average Daily Volume

27

Number of Holdings ^*

8

* may have additional holdings in another (foreign) market

DBJP

db-X trackers MSCI Japan Hedged Equity Fund

DBJP Description

The investment seeks investment results that correspond generally to the performance, before fees and expenses, of the MSCI Japan US Dollar Hedged Index (the "underlying index"). The index is designed to provide exposure to Japanese equity markets, while at the same time mitigating exposure to fluctuations between the value of the U.S. dollar and Japanese yen. The fund will normally invest at least 80% of its net assets in equity securities of issuers from Japan and in instruments designed to hedge the fund's exposure to Japanese yen. It is non-diversified.

Grade (RS Rating)

Last Trade

$71.22

Average Daily Volume

23,478

Number of Holdings ^*

9

* may have additional holdings in another (foreign) market

Performance

Period	SPAQ	DBJP
30 Days	-0.17%	0.13%
60 Days	0.12%	-6.62%
90 Days	0.26%	-1.79%
12 Months	0.43%	20.99%

0 Overlapping Holdings

	Symbol	Grade	Weight in SPAQ	Weight in DBJP	Overlap

SPAQ Overweight 8 Positions Relative to DBJP

	Symbol	Grade	Weight
	SVII	B	4.98%
	ALF	C	4.95%
	LCW	C	4.66%
	LEGT	C	4.63%
	IBAC	C	4.61%
	HYAC	C	4.56%
	BOWN	B	4.5%
	AACT	A	4.43%

SPAQ Underweight 9 Positions Relative to DBJP

	Symbol	Grade	Weight
	TM	F	-4.66%
	SONY	C	-2.99%
	MUFG	D	-2.92%
	SMFG	D	-2.05%
	MFG	D	-1.23%
	HMC	D	-1.21%
	NMR	D	-0.41%
	AGCO	D	-0.16%
	MBAVU	C	-0.11%

SPAQ: Top Represented Industries & Keywords

Industries: Shell Companies

Keywords: Mergers And Acquisitions Private Equity Special Purpose Acquisition Company Reverse Takeover

DBJP: Top Represented Industries & Keywords

Industries: Auto Manufacturers Banks - Global Banks - Regional - Asia Capital Markets Consumer Electronics Farm & Construction Equipment

Keywords: Advisory Services Bank Financial Products Investment Banking Investment Banking Services Structured Finance Asset And Liability Management Asset Management Automotive Industry Banking Cars Consumer Finance Corporate Banking Financial Advisory Services Investment Bank Investment Product Liability Management Mitsui Mower Passenger Car