BSEA — ETFMG Breakwave Sea Decarbonization Tech ETF

BSEA Fund Overview

BSEA — ETFMG Breakwave Sea Decarbonization Tech ETF is a US ETF managed by ETF Managers Trust, categorised as Global (incl. US) Blend / Core Thematic Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

• Type: US ETF
• Manager: ETF Managers Trust
• Category: Global (incl. US) Blend / Core Thematic Equity
• Assets under management: $2.07M
• 1-year return: 8.9%
• Ticker: BSEA
• SEC CIK: 0001467831
• SEC series ID: S000073613
• Share class ID: C000230644

BSEA Investment Objective and Strategy

ETFMG Breakwave Sea Decarbonization Tech ETF describes its objective and strategy as follows, from its latest prospectus filed with the SEC by ETF Managers Trust.

Investment objective

The ETFMG Breakwave Sea Decarbonization Tech ETF (the Fund or the Decarbonization ETF) seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the Marine Money Decarbonization Index (the Index).

Principal investment strategy

The Fund uses a passive or indexing approach to try to achieve the Funds investment objective. Unlike many investment companies, the Fund does not try to beat the Index and does not seek temporary defensive positions when markets decline or appear overvalued. The Marine Money Decarbonization Index The Index was created by Maritime Transformation Partners, LLC (the Index Provider) and tracks the performance of the equity securities of a diversified set of global companies that develop technologies, manufacture equipment or provide services related to marine or ocean decarbonization. Construction of the Index begins with the universe of global companies with a minimum market capitalization of $75 million. In addition, the Index components are common stock (or corresponding American Depositary Receipts (ADRs) or Global Depositary Receipts (GDRs)) listed on an exchange in a developed market and have a six-month average trading volume of $500 thousand.

The business descriptions of and other information regarding companies that meet the eligibility criteria are reviewed for specific factors related to technologies, equipment or services involved in cleaner propulsion (including alternative fuels, batteries and fuel cells), carbon capture technologies and offshore wind development. The universe of companies that may be considered eligible for potential Index inclusion is determined by an index committee based on factors such as a companys business description, product lines, investment growth plans, exposure to the maritime sector, and its most recent reported revenue by segment. The universe of companies is then divided by the Index Provider to two tiers: the Core tier (Core) and the Tracking tier (Tracking). The Core tier has an 80% weighting in the Index, while the Tracking tier has a 20% weighting in the Index.

The Core tier is currently comprised of approximately 20 companies that are leaders in their respective business sectors. In addition, to be considered for inclusion in the Core tier, a potential constituent must (i) derive the majority of its revenues from sales of technology, equipment or services related to marine decarbonization, which includes marine infrastructure modernization that has the effect of reducing carbon emissions; (ii) have made substantial investment commitment, typically a majority of their research and development budget, in marine decarbonization technologies, equipment or services, including lower carbon fuel development, distribution or consumption; or (iii) be a stakeholder in a marine decarbonization demonstration project recognized by the Global Maritime Forum, an international not-for-profit organization committed to shaping the future of global seaborne trade to increase sustainable long-term economic development and human well being, or a similar successor organization.

The 20 constituents will be equally weighted in the Core tier of the Index. The Tracking tier of the Index is comprised of companies with promising developments or significant investment in relevant business sectors that have not yet reached the development stage or scale targeted as it relates to decarbonization efforts or sufficient materiality to the companys overall business. The constituents will be equally weighted in the Tracking tier of the Index. The Tracking tier generally includes, but is not limited to, 20 to 40 constituents based on eligibility. The Core tier constituents must have a minimum market capitalization of $250 million and the Tracking tier constituents must have a minimum market capitalization of $75 million. The weight of each security is capped at 10%. All excess weight is proportionally redistributed to all uncapped constituents within the relevant index tier.

The Index follows a quarterly rebalance and reconstitution schedule. Adjustments are made on the third Friday of March, June, September and December which is deemed the effective day. Weights are calculated and Index shares are frozen at the close of that specific day. The selection list is created based on the data as of the effective day. The Index is calculated by Solactive AG, which is independent of the Index Provider, the Fund, its adviser and distributor. The Index is not limited to a minimum or maximum number of constituents; rather, its composition is determined by the index committee based on the criteria outlined in the Indexs methodology. The Index may include companies of any market capitalization, including small capitalization companies, subject to meeting the Index eligibility criteria.

The Index Provider anticipates that the Index will generally include between 40 and 60 companies. As of September 30, 2022, the Index included the securities of 43 companies with minimum and maximum market capitalizations of $75 million and $50 billion, respectively. The Funds Principal Investment Strategies The Fund generally expects to use a replication strategy. A replication strategy is an indexing strategy that involves investing in the securities of the Index in approximately the same proportions as in the Index. However, the Fund may utilize a representative sampling strategy with respect to the Index when a replication strategy might be detrimental to shareholders, such as when there are practical difficulties or substantial costs involved in compiling a portfolio of equity securities to follow the Index, in instances in which a security in the Index becomes temporarily illiquid, unavailable or less liquid, or as a result of legal restrictions or limitations (such as tax diversification requirements) that apply to the Fund but not the Index.

Under normal circumstances, the Fund will invest at least 80% of its net assets, plus borrowings for investment purposes, in Core tier companies or companies that derive a majority of their revenues or profits from, or invest a majority of their assets in, technologies (including their equipment and directly related services) for marine or ocean decarbonization (the 80% Policy). The Fund may lend its portfolio securities to brokers, dealers and other financial organizations. These loans, if and when made, may not exceed 33 1/3% of the total asset value of the Fund (including the loan collateral). By lending its securities, the Fund may increase its income by receiving payments from the borrower. The Fund rebalances its portfolio in accordance with its Index, and, therefore, any changes to the Indexs rebalance schedule will result in corresponding changes to the Funds rebalance schedule.

Correlation: Correlation is the extent to which the values of different types of investments move in tandem with one another in response to changing economic and market conditions. An index is a theoretical financial calculation, while the Fund is an actual investment portfolio. The performance of the Fund and the Index may vary somewhat due to transaction costs, asset valuations, foreign currency valuations, market impact, corporate actions (such as mergers and spin-offs), legal restrictions or limitations, illiquid or unavailable securities, and timing variances. The Funds investment adviser expects that, over time, the correlation between the Funds performance and that of the Index, before fees and expenses, will exceed 95%. A correlation percentage of 100% would indicate perfect correlation.

If the Fund uses a replication strategy, it can be expected to have greater correlation to the Index than if it uses a representative sampling strategy. Industry Concentration: The Fund will concentrate its investments ( i.e ., hold 25% or more of its net assets) in a particular industry or group of related industries to approximately the same extent that the Index is concentrated. As of September 30, 2022, the Index was concentrated in companies in the industrials industry group.

BSEA Performance

Total returns for BSEA (as of 2026-10-01), from SEC filings.

BSEA Risk Information

Risk metrics for BSEA, derived from monthly returns in SEC filings.

• 1-year volatility (annualised): 32.0%

BSEA Costs and Fees

BSEA costs about $75 per $10,000 invested per year in fund expenses.

• Net expense ratio: 0.75%
• Gross expense ratio: 0.75%
• Portfolio turnover: 34%
• Brokerage commissions: 5.29 bps of average net assets (SEC N-CEN)

BSEA Cashflows

Over the 12 months to 2023-06, ETFMG Breakwave Sea Decarbonization Tech ETF had net inflows of $0, from monthly SEC N-PORT filings.

BSEA Debt Constituents

No individual debt constituents are reported in ETFMG Breakwave Sea Decarbonization Tech ETF's latest SEC N-PORT filing.

BSEA Prospectus and SEC Filings

Official ETFMG Breakwave Sea Decarbonization Tech ETF filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2022-10-27
• Prospectus amendment (485APOS) — filed 2021-09-16
• Portfolio holdings (N-PORT) — filed 2023-08-25
• Portfolio holdings (N-PORT) — filed 2023-05-23
• Portfolio holdings (N-PORT) — filed 2023-02-23
• Annual census (N-CEN) — filed 2023-09-13
• Annual census (N-CEN) — filed 2022-09-12

Related Funds

Other Global (incl. US) Blend / Core Thematic Equity funds tracked on ABC INVEST:

• VegaShares AI Advanced Chip Packaging ETF (CWOS)
• VegaShares AI Inference Infrastructure ETF (NFER)
• VegaShares AI On-Devices ETF (DEVC)

Data Sources

ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.