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Critical Facts You Need to Know About Preferred Stocks
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CrossingBridge Pre-Merger SPAC ETF
Active ETF
SPC
Payout Change
Pending
Price as of:
$18.98
+0.19
+1.01%
primary theme
N/A
SPC (ETF)
CrossingBridge Pre-Merger SPAC ETF
Payout Change
Pending
Price as of:
$18.98
+0.19
+1.01%
primary theme
N/A
SPC (ETF)
CrossingBridge Pre-Merger SPAC ETF
Payout Change
Pending
Price as of:
$18.98
+0.19
+1.01%
primary theme
N/A
Name
As of 01/27/2026Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
-0.1%
1 yr return
3.7%
3 Yr Avg Return
4.7%
5 Yr Avg Return
N/A
Net Assets
$18.7 M
Holdings in Top 10
55.0%
52 WEEK LOW AND HIGH
$18.8
$18.75
$22.33
Expenses
OPERATING FEES
Expense Ratio 0.87%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover N/A
Redemption Fee N/A
Min Investment
Standard (Taxable)
N/A
IRA
N/A
Fund Classification
Fund Type
Exchange Traded Fund
Name
As of 01/27/2026Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
SPC - Profile
Distributions
- YTD Total Return -0.1%
- 3 Yr Annualized Total Return 4.7%
- 5 Yr Annualized Total Return N/A
- Capital Gain Distribution Frequency N/A
- Net Income Ratio N/A
- Dividend Yield 11.2%
- Dividend Distribution Frequency None
Fund Details
-
Legal NameCrossingBridge Pre-Merger SPAC ETF
-
Fund Family NameN/A
-
Inception DateSep 20, 2021
-
Shares OutstandingN/A
-
Share ClassN/A
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerDavid Sherman
Fund Description
The Fund is an actively managed exchange-traded fund (“ETF”) that under normal market conditions will invest at least 80% of its net assets, plus borrowings for investment purposes, in shares of common stock and units of Special Purpose Acquisition Companies (“SPACs”) that have yet to consummate a shareholder-approved merger or business combination. The Fund seeks to invest in publicly-traded SPACs that at the time of purchase are trading at or below the SPAC’s pro rata trust account value. From time to time, the Fund may receive SPAC common stock or units that are trading above the SPAC’s pro rata trust account value as Deposit Securities (defined below).
The Fund will invest primarily in U.S.-listed SPACs, and may also invest in SPACs that are domiciled or listed outside of the U.S., including SPACs listed in Canada, the Cayman Islands, Bermuda and the Virgin Islands.
The Fund may invest in securities offered in a SPAC initial public offering (“IPO”). As part of its participation in a SPAC IPO, pursuant to which the Fund will acquire SPAC common stock or units at or below the pro rata trust account value, the Fund may also receive additional securities that may include founder shares and founder warrants at no additional cost. Such founder shares and founder warrants may have restrictions on resale. Except to the extent that the Fund holds founder shares and founder warrants of a SPAC, the Adviser will submit a redemption notice to a SPAC sponsor or dispose of any SPAC common stock or units held by the Fund generally no later than 10 business days following the consummation of a shareholder-approved merger or business combination. Depending on market pricing, the Fund generally intends to sell warrants that it receives in connection with the purchase of a SPAC’s units in order to reduce the cost basis of each investment, which may generate additional returns for the shareholder.
A SPAC (or “blank check company”) is a company with no commercial operations that is established solely to raise capital through an IPO for the purpose of acquiring an existing operating company. A SPAC is publicly traded and is formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more other operating companies. Generally, a SPAC is formed by sponsors holding founder shares with an approximately 20% equity interest in the SPAC. SPACs may offer units, typically comprised of one share of common stock of the SPAC and a warrant (or portion of a warrant) to purchase common stock of the SPAC or its successor entity upon or after a business combination. A warrant is a security that allows its holder to purchase a specified amount of common stock at a specified price for a specified time. Typically, a SPAC’s IPO net proceeds are placed in an interest-bearing trust account for the benefit of the SPAC’s common stock shareholders until a merger or business combination is completed or the SPAC is liquidated for not having completed a merger or business combination. The value of the trust account divided by the number of shares issued by a SPAC provides a pro rata trust account value. The SPAC sponsor may have contributed additional monies into the trust account to over-collateralize the amount in excess of the IPO net proceeds. SPACs often have pre-determined time frames to complete a business combination (generally two years) or the SPAC will liquidate. Unless and until a business combination is completed, a SPAC generally invests its IPO net proceeds in U.S. government securities, U.S. agency securities, money market securities and cash, and such assets are held in a trust account.
SPAC common stock shareholders of record have the right to redeem their shares for the pro rata trust account value rather than participating as a shareholder of a successful merger or business combination. Trust account proceeds that were not distributed to common stock shareholders exercising their redemption rights are contributed as cash to the successor entity and those SPAC common stock shareholders not exercising their redemption rights will receive common stock shares of the successor entity.
The Fund may invest up to 20% of its total assets in fixed income securities for cash management purposes or due to a lack of suitable investment opportunities. The Fund defines fixed income securities to include: bills, notes, bonds, debentures, convertible bonds, loan participations, syndicated loan assignments, floating-rate securities, and other evidence of indebtedness issued by U.S. or foreign corporations, governments, government agencies or government instrumentalities, including floating-rate securities, convertible bonds and preferred stocks. Floating-rate securities provide interest income that can increase or decrease with interest rates. The Fund invests in individual fixed income securities without restriction as to issuer credit quality, capitalization or security maturity. The Fund will only invest in fixed income securities denominated in U.S. dollars issued by issuers domiciled in North America or developed markets.
Investment decisions for the Fund are made by CrossingBridge Advisors, LLC (the “Adviser”). The Adviser will utilize both quantitative and qualitative analysis to identify investment opportunities with favorable attributes. Quantitative analysis will primarily focus on the current market price relative to a SPAC’s underlying pro rata trust account value as well as the yield to expected liquidation or redemption date.
Qualitative analysis may include factors such as a SPAC sponsors’ background and experience, target industry, and terms of an announced transaction (i.e., a publicly announced merger or business combination between a SPAC and a target company). The Adviser tracks publicly-traded SPAC common stock shares and units to evaluate return profiles. In managing the Fund’s portfolio, the Adviser will engage in frequent trading, which may result in a high portfolio turnover rate.
SPC - Performance
Return Ranking - Trailing
| Period | SPC Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | -0.1% | -48.5% | 23.9% | 92.65% |
| 1 Yr | 3.7% | -76.0% | 772.5% | N/A |
| 3 Yr | 4.7%* | -53.1% | 50.0% | N/A |
| 5 Yr | N/A* | -42.4% | 16.0% | N/A |
| 10 Yr | N/A* | -22.8% | 15.0% | N/A |
* Annualized
Return Ranking - Calendar
| Period | SPC Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2025 | -8.0% | -83.6% | 547.9% | N/A |
| 2024 | -2.4% | -69.3% | 196.9% | N/A |
| 2023 | 2.3% | -28.2% | 63.9% | N/A |
| 2022 | 0.9% | -29.8% | 9.3% | N/A |
| 2021 | N/A | -14.5% | 29.5% | N/A |
Total Return Ranking - Trailing
| Period | SPC Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | -0.1% | -48.5% | 23.9% | 93.14% |
| 1 Yr | 3.7% | -76.0% | 772.5% | N/A |
| 3 Yr | 4.7%* | -53.1% | 50.0% | N/A |
| 5 Yr | N/A* | -42.4% | 16.0% | N/A |
| 10 Yr | N/A* | -19.7% | 15.0% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | SPC Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2025 | 4.4% | -83.6% | 547.9% | N/A |
| 2024 | 4.6% | -69.3% | 196.9% | N/A |
| 2023 | 6.0% | -28.2% | 63.9% | N/A |
| 2022 | 2.0% | -29.8% | 9.3% | N/A |
| 2021 | N/A | -14.5% | 40.9% | N/A |
SPC - Holdings
Concentration Analysis
| SPC | Category Low | Category High | SPC % Rank | |
|---|---|---|---|---|
| Net Assets | 18.7 M | 183 K | 28 B | 87.66% |
| Number of Holdings | 33 | 6 | 1336 | 7.14% |
| Net Assets in Top 10 | 12.2 M | 59 K | 2.7 B | 88.64% |
| Weighting of Top 10 | 54.96% | 4.7% | 100.0% | 58.86% |
Top 10 Holdings
- Patria Latin American Opportunity Acquisition Corp 10.81%
- CARTESIAN GROWTH CORP II 7.72%
- Mercer Park Opportunities Corp 6.10%
- IB Acquisition Corp 4.56%
- Globa Terra Acquisition Corp 4.51%
- Vendome Acquisition Corp I 4.49%
- A Paradise Acquisition Corp 4.47%
- Aimei Health Technology Co Ltd 4.44%
- Flag Ship Acquisition Corp 3.99%
- Quetta Acquisition Corp 3.87%
Asset Allocation
| Weighting | Return Low | Return High | SPC % Rank | |
|---|---|---|---|---|
| Stocks | 96.62% | 77.52% | 101.30% | 62.82% |
| Cash | 3.42% | -1.30% | 22.49% | 30.19% |
| Other | 0.02% | -1.57% | 7.18% | 24.68% |
| Preferred Stocks | 0.00% | 0.00% | 3.43% | 7.63% |
| Convertible Bonds | 0.00% | 0.00% | 1.57% | 4.38% |
| Bonds | 0.00% | 0.00% | 3.19% | 1.46% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | SPC % Rank | |
|---|---|---|---|---|
| Utilities | 0.00% | 0.00% | 5.57% | 34.09% |
| Technology | 0.00% | 0.00% | 75.51% | 99.84% |
| Real Estate | 0.00% | 0.00% | 15.31% | 75.16% |
| Industrials | 0.00% | 0.00% | 36.64% | 99.19% |
| Healthcare | 0.00% | 0.00% | 47.90% | 99.19% |
| Financial Services | 0.00% | 0.00% | 100.00% | 0.16% |
| Energy | 0.00% | 0.00% | 55.49% | 74.35% |
| Communication Services | 0.00% | 0.00% | 15.31% | 84.58% |
| Consumer Defense | 0.00% | 0.00% | 13.56% | 96.43% |
| Consumer Cyclical | 0.00% | 0.00% | 40.68% | 98.86% |
| Basic Materials | 0.00% | 0.00% | 10.30% | 84.90% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | SPC % Rank | |
|---|---|---|---|---|
| US | 96.62% | 67.06% | 99.56% | 87.66% |
| Non US | 0.00% | 0.00% | 26.08% | 8.77% |
SPC - Expenses
Operational Fees
| SPC Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.87% | 0.03% | 4.18% | 87.44% |
| Management Fee | 0.80% | 0.05% | 4.05% | 48.46% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.01% | 0.40% | N/A |
Sales Fees
| SPC Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 3.50% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
| SPC Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 1.00% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| SPC Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | N/A | 3.00% | 439.00% | N/A |
SPC - Distributions
Dividend Yield Analysis
| SPC | Category Low | Category High | SPC % Rank | |
|---|---|---|---|---|
| Dividend Yield | 11.23% | 0.00% | 1.88% | 9.74% |
Dividend Distribution Analysis
| SPC | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | None | Annually | Annually | Annually |
Net Income Ratio Analysis
| SPC | Category Low | Category High | SPC % Rank | |
|---|---|---|---|---|
| Net Income Ratio | N/A | -4.08% | 1.10% | 56.27% |
Capital Gain Distribution Analysis
| SPC | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 24, 2025 | $0.166 | CapitalGainShortTerm |
| Dec 24, 2025 | $2.132 | OrdinaryDividend |
| Dec 24, 2025 | $0.373 | CapitalGainLongTerm |
| Dec 26, 2024 | $0.108 | CapitalGainShortTerm |
| Dec 26, 2024 | $0.240 | CapitalGainLongTerm |
| Dec 26, 2024 | $0.776 | OrdinaryDividend |
| Sep 24, 2024 | $0.344 | Extra |
| Sep 24, 2024 | $0.344 | Extra |
| Dec 26, 2023 | $0.765 | OrdinaryDividend |
| Dec 29, 2022 | $0.186 | OrdinaryDividend |
| Dec 29, 2022 | $0.029 | CapitalGainShortTerm |
| Sep 29, 2022 | $0.020 | OrdinaryDividend |
SPC - Fund Manager Analysis
Managers
David Sherman
Start Date
Tenure
Tenure Rank
Sep 20, 2021
0.69
0.7%
David K. Sherman is the portfolio manager for RiverPark Short Term and RiverPark Strategic Income. Mr. Sherman, is the managing member of Cohanzick. Since 1996, Mr. Sherman, on behalf of Cohanzick Management, LLC , has managed accounts for various clients utilizing investment programs substantially similar to those intended to be used by the Fund. From January 1987 to August 1996, Mr. Sherman held various executive and director positions at Leucadia National Corporation and/or its subsidiaries. From August 1992 to August 1996, Mr. Sherman served as a Vice President of Leucadia with primary responsibility for the oversight of Leucadia's insurance companies' investment portfolios. Mr. Sherman holds a B.S. in Business Administration from Washington University.
T. Kirk Whitney
Start Date
Tenure
Tenure Rank
Sep 20, 2021
0.69
0.7%
T. Kirk Whitney, CFA® is an Assistant Portfolio Manager of the Adviser, a wholly owned subsidiary of Cohanzick Management, LLC, and serves as an Assistant Portfolio Manager of the Responsible Credit Fund. Mr. Whitney began his career with Cohanzick Management, LLC as a Portfolio Analyst in 2013, rising to his current role of Assistant Portfolio Manager and Senior Analyst. Mr. Whitney has over 20 years of experience having worked at the Solaris Group, Concordia Advisors, Alliance Capital and Bloomberg. Mr. Whitney holds a B.S. from Pennsylvania State University.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.08 | 30.44 | 8.95 | 5.25 |
