SPAX Q2 2023 Commentary & Outlook
The Robinson Alternative Yield Pre-Merger SPAC ETF (ticker: SPAX) returned 1.66% for the second quarter of 2023 on a price basis and 4.18% for the year-to-date; it returned 1.78% on a net asset value basis for the quarter and 3.29% year-to-date.
SPAX Q1 2023 Commentary & Outlook
The Robinson Alternative Yield Pre-Merger SPAC ETF (ticker: SPAX) returned 2.47% for the first quarter of 2023 on a price basis and 3.69% for the trailing 12-months; it returned 1.48% on a net asset value basis for the quarter and 3.92% the past 12-months.
SPAX Q4 2022 Commentary & Outlook
The Robinson Alternative Yield Pre-Merger SPAC ETF (ticker: SPAX) returned 0.73% for the fourth quarter of 2022 on a price basis and 1.25% for the full year; it returned 1.94% on a net asset value basis for the quarter and 2.43% for all of 2022.
It Ain’t Over Till It’s Over
Bond investors are slowly coming to the realization that historically longer term bond yields tend to peak plus-or-minus a month around the LAST Fed rate hike of the cycle
SPAX Q3 2022 Commentary & Outlook
The Robinson Alternative Yield Pre-Merger SPAC ETF returned 0.24% for the third quarter of 2022 on a price basis and 3.21% for the trailing 1-year period; it returned 0.51% on a net asset value basis for the quarter and 3.07% for the 1-year period.
Hard or Soft Landing and Why It Matters for Bond Investors
The conservative expected return of the pre-merger SPAC market over the next 12 months is 6%, regardless of whether the landing is soft or hard
SPAX Q2 2022 Commentary & Outlook
Robinson Alt Yield Pre-Merger SPAC ETF returned 0.22% for the second quarter of 2022 on a price basis and 2.49% for its first full year; it returned a negative 0.06% on a net asset value basis for the quarter and 2.30% for the year.
How to Benefit from a Hawkish Federal Reserve
Now that the Fed is pursuing a particularly hawkish rate hike path, that income potential is becoming more and more meaningful.
Absolute Return: Bringing Calm to a Volatile Market
SPAC Arbitrage provides exposure to pre-merger SPACs given their attractive asymmetric risk adjusted returns, downside risk mitigation, equity-like capital appreciation potential, and uncorrelated nature to stocks and bonds.
How’s your 60/40 model Working?
Bond yields are at a level where they are mathematically incapable of providing a principal protection cushion should rates rise, a meaningful yield advantage over stocks, or a negative correlation with stocks
