The Fund is an actively managed exchange-traded fund (ETF) that under normal market conditions will invest at least 80 percent 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 SPACs pro rata trust account value. From time to time, the Fund may receive SPAC common stock or units that are trading above the SPACs pro rata trust account value as Deposit Securities.