KOIN — Innovation Shares NextGen Protocol ETF

KOIN Fund Overview

KOIN — Innovation Shares NextGen Protocol ETF is a US ETF managed by Exchange Traded Concepts Trust, categorised as Global (incl. US) Large Cap Growth Thematic Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

• Type: US ETF
• Manager: Exchange Traded Concepts Trust
• Category: Global (incl. US) Large Cap Growth Thematic Equity
• Assets under management: $13.56M
• 1-year return: 14.4%
• Ticker: KOIN
• SEC CIK: 0001452937
• SEC series ID: S000061191
• Share class ID: C000198171

KOIN Investment Objective and Strategy

Innovation Shares NextGen Protocol ETF describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Exchange Traded Concepts Trust.

Investment objective

"The Innovation Shares NextGen Protocol ETF (the ""Fund"") seeks to provide investment results that, before fees and expenses, track the performance of the Innovation Labs Blockchain Innovators Index (the ""Index"")."

Principal investment strategy

"The Fund will normally invest at least 80% of its total assets in securities of the Index. The Index was designed by Innovation Labs Ltd., the Fund's index creator (the ""Index Creator""), to measure the performance of a diversified group of publicly-listed companies that use, or are involved in, blockchain (""Blockchain Innovators""). The Index has been licensed by Innovation Shares LLC (the ""Index Provider""). The term ""blockchain"" generally refers to a decentralized, peer-to-peer distributed ledger used to record transaction and ownership records. Transactions on a blockchain are permanently recorded in files called ""blocks,"" which reflect transactions that have been recorded and authenticated by network participants known as ""miners."" Each newly recorded block of transactions refers back to and ""connects"" with the immediately prior recorded block of the public ledger, similar to pages of other types of transaction ledgers.

Each new block records outstanding transactions, and outstanding transactions are settled and validated through such recording. Among other things, blockchain enables the existence of cryptocurrencies, which are a form of digital asset designed to enable purchases, sales and other financial transactions. Companies across a wide variety of industries are exploring the possible applications of blockchain to their business, including commodity trading firms, financial services companies, and companies in the transportation industry. The extent of blockchain's versatility has not yet been fully explored. As a result, the Index may include equity securities of operating companies that focus on or have exposure to a wide variety of industries, and the economic fortunes of companies eligible for inclusion in the Index may have minimal ties to blockchain.

The Fund will not invest in cryptocurrency directly or indirectly through the use of derivatives. The Fund also will not invest in initial coin offerings. The Fund may, however, have indirect exposure to cryptocurrency by virtue of its investments in companies that may use one or more cryptocurrencies as part of their business activities. The Index is constructed using a proprietary algorithmic stock selection methodology (the ""Methodology"") that begins with an initial universe of companies that: (1) are listed on major stock exchanges of developed and emerging markets countries, as defined by the Index Creator according to the rules-based Methodology; (2) have a minimum market capitalization of $100 million and a minimum average daily traded value for the last 6 months greater than or equal to $1 million; and (3) have a minimum free float market capitalization (shares publicly available for purchase on the stock market) equivalent to 10% of shares outstanding.

Shares of common stock, units, tracking stocks, American Depository Receipts (""ADRs"") and Global Depository Receipts (""GDRs"") are eligible for inclusion in the Index. Where securities of eligible companies have multiple share classes listed on major exchanges, the most liquid share class as determined by the average daily traded value for the sixth month period preceding the date companies are screened for inclusion. From this initial universe, companies are screened according to the Methodology for their involvement in, investment in, or adoption of cryptocurrency and blockchain technology using the Index Creator's natural language processing (""NLP"") algorithm. The NLP algorithm identifies a relationship between certain keywords that are representative of targeted investment trends and themes, as well as investment securities whose short- and long-term values are affected by such trends and themes.

The NLP algorithm reads through a large volume of textual data on online media platform and databases and identifies companies that are strongly tied to blockchain technology and any derivatives of that technology. These strongly-tied screened companies are then grouped into four ""Stakeholder"" categories, as determined by the Index Creator's Index Committee: (1) ""Cryptocurrency Payees:"" companies that accept cryptocurrency as payment and are developing blockchain payment solutions; (2) ""Mining Enablers:"" companies that create hardware to enable creation of new blockchains or are mining blockchains as their main business; (3) ""Solutions Providers:"" companies that assist organizations in the creation and implementation of blockchain applications; and (4) ""Blockchain Users:"" companies that primarily use blockchain technology to increase their own operational efficiencies, optimize settlement processes, enhance their customers' experience and/or increase data security/integrity.

Once eligible companies are grouped into the four Stakeholder categories, companies are ranked within their category based on a score applied using the Methodology. In order to limit overconcentration of the Index in a Stakeholder category, the following rules are applied in constructing the final Index: (1) Index components are selected based on rankings within their Stakeholder category; (2) the maximum number of Index components in each Stakeholder category is capped at 15; (3) the initial weight of an Index component at the time of re-constitution is based on its market capitalization; (4) the individual weighting of an Index component is capped at 7% at the time of reconstitution; and (5) if the collective weight of Index components within a category exceed 40% at the time of reconstitution, the weightings of Index components are reduced proportionally so that their collective weight equals 40%.

Index components are reconstituted semi-annually in June and December and re-balanced on a quarterly basis to their original weights set at the reconstitution preceding the quarterly rebalance. As of January 23, 2018, the Index comprised 42 component securities. The Fund employs a ""passive management"" investment strategy designed to track the performance of the Index. Penserra Capital Management LLC (the ""Sub-Adviser""), the Fund's sub-adviser, generally will use a replication methodology, meaning it will invest in all of the securities composing the Index in proportion to their respective weightings in the Index. However, the Sub-Adviser may utilize a sampling methodology under various circumstances, including when it may not be possible or practicable to purchase all of the securities in the Index.

Exchange Traded Concepts, LLC (""ETC"" or the ""Adviser"") expects that over time, if the Fund has sufficient assets, the correlation between the Fund's performance, before fees and expenses, and that of the Index will be 95% or better. A figure of 100% would indicate perfect correlation. The Fund may invest up to 20% of its total assets in investments that are not included in the Index, but that the Adviser or the Sub-Adviser believes will help the Fund track the performance of the Index. The Fund will concentrate its investments ( i.e. , invest more than 25% of its net assets) in a particular industry or group of industries to approximately the same extent that the Index concentrates in an industry or group of industries. As of the date of this Prospectus, the Index was concentrated in the information technology industry.

In addition, in replicating the Index, the Fund may from time to time invest a significant portion of its assets in the securities of companies in one or more sectors. As of the date of this Prospectus, a significant portion of the Index consisted of companies in the information technology, financials, and consumer discretionary sectors. The Index was created by Innovation Labs Ltd. and is provided via license by Innovation Shares LLC, neither of which is an affiliate of the Fund, the Adviser, or the Sub-Adviser. The Index is calculated and administered by Solactive AG, which is not an affiliate of the Fund, the Adviser or the Sub-Adviser or the Index Provider. The Adviser has entered into a license agreement with the Index Provider pursuant to which the Adviser pays a fee to use the Index.

The Adviser is sublicensing rights to the Index to the Fund at no charge."

KOIN Holdings

Top 10 holdings of Innovation Shares NextGen Protocol ETF by percentage of net assets, from the fund's latest SEC N-PORT filing.

View all KOIN holdings

KOIN Portfolio Allocation

Asset-class allocation of Innovation Shares NextGen Protocol ETF by percentage of net assets, from the latest SEC N-PORT filing.

KOIN Performance

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

KOIN Risk Information

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

• 1-year volatility (annualised): 15.2%

KOIN Costs and Fees

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

• Net expense ratio: 0.75%
• Gross expense ratio: 0.95%
• Portfolio turnover: 22%
• Brokerage commissions: 2.74 bps of average net assets (SEC N-CEN)

KOIN Cashflows

Over the 12 months to 2024-02, Innovation Shares NextGen Protocol ETF had net inflows of $4.73M, from monthly SEC N-PORT filings.

KOIN Debt Constituents

No individual debt constituents are reported in Innovation Shares NextGen Protocol ETF's latest SEC N-PORT filing.

KOIN Prospectus and SEC Filings

Official Innovation Shares NextGen Protocol ETF filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2024-03-26
• Prospectus (485BPOS) — filed 2023-03-30
• Prospectus supplement (497) — filed 2022-04-20
• Portfolio holdings (N-PORT) — filed 2024-04-29
• Portfolio holdings (N-PORT) — filed 2024-01-26
• Portfolio holdings (N-PORT) — filed 2023-10-30
• Annual census (N-CEN) — filed 2024-02-13
• Annual census (N-CEN) — filed 2023-02-10

Related Funds

Other Global (incl. US) Large Cap Growth Thematic Equity funds tracked on ABC INVEST:

• Victory Sustainable World Fund (USAWX)
• Ab Sustainable Global Thematic Fund, Inc. (ALTFX)
• Fidelity Disruptive Automation ETF (FBOT)
• The ESG Growth Portfolio (HCESX)
• Inspire Faithward Large Cap Momentum ESG ETF (FEVR)

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.