NKEL — AXS 2X NKE Bull Daily ETF

NKEL Fund Overview

NKEL — AXS 2X NKE Bull Daily ETF is a US ETF managed by Investment Managers Series Trust II, categorised as Leveraged. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

• Type: US ETF
• Manager: Investment Managers Series Trust II
• Category: Leveraged
• Assets under management: $805.83K
• Ticker: NKEL
• SEC CIK: 0001587982
• SEC series ID: S000076106
• Share class ID: C000235547

NKEL Investment Objective and Strategy

AXS 2X NKE Bull Daily ETF describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Investment Managers Series Trust II.

Investment objective

The AXS 2X NKE Bull Daily ETF seeks daily investment results, before fees and expenses, that correspond to two times (200%) the daily performance of the common shares of Nike, Inc. The Fund does not seek to achieve its stated investment objective for a period of time different than a trading day.

Principal investment strategy

Under normal market circumstances, the Fund will maintain at least 80% exposure to financial instruments that provide two times leveraged exposure to the daily performance of NKE. The Fund is an actively-managed exchange-traded fund (ETF) that seeks to achieve on a daily basis, before fees and expenses, 200% performance of NKE for a single day, not for any other period, by entering into one or more swap agreements on NKE. A single day is measured from the time the Fund calculates its net asset value (NAV) to the time of the Funds next NAV calculation. The Fund will enter into one or more swap agreements with major global financial institutions for a specified period ranging from a day to more than one year whereby the Fund and the global financial institution will agree to exchange the return (or differentials in rates of return) earned or realized on NKE.

The gross return to be exchanged or swapped between the parties is calculated with respect to a notional amount, e.g., the return on or change in value of a particular dollar amount representing NKE. The Adviser attempts to consistently apply leverage to increase the Funds exposure to 200% of NKE, and expects to rebalance the Funds holdings daily to maintain such exposure. As a result of its investment strategies, the Fund will be concentrated in the industry assigned to NKE (i.e., hold 25% or more of its total assets in investments that provide leveraged exposure to the industry assigned to NKE). As of the date of this prospectus, NKE is assigned to the consumer discretionary products industry. Additionally, the Fund may invest between 40-80% of the Funds portfolio depending on the amount of collateral required by the Funds counterparties in (1) U.S.

Government securities, such as bills, notes and bonds issued by the U.S. Treasury; (2) money market funds; (3) short term bond ETFs and/or (4) corporate debt securities, such as commercial paper and other short-term unsecured promissory notes issued by businesses that are rated investment grade or of comparable quality (Collateral Investments). Nike, Inc. designs, develops, markets and sells athletic footwear, apparel, equipment, accessories and services worldwide. NKE is registered under the Securities Exchange Act of 1934, as amended (the Exchange Act). Information provided to or filed with the Securities and Exchange Commission by Nike, Inc. pursuant to the Exchange Act can be located by reference to the Securities and Exchange Commission file number 001-34756 through the Securities and Exchange Commissions website at www.sec.gov.

In addition, information regarding Nike, Inc. may be obtained from other sources including, but not limited to, press releases, newspaper articles and other publicly disseminated documents. The Fund has derived all disclosures contained in this document regarding Nike, Inc. from the publicly available documents described above. In connection with the offering of the Funds securities, neither the Fund, the Trust nor the Advisor or any of its respective affiliates has participated in the preparation of such documents or made any due diligence inquiry with respect to Nike, Inc. Neither the Fund, the Trust nor the Advisor or any of its respective affiliates makes any representation that such publicly available documents or any other publicly available information regarding Nike, Inc. is accurate or complete.

Furthermore, the Fund cannot give any assurance that all events occurring prior to the date hereof (including events that would affect the accuracy or completeness of the publicly available documents described above) that would affect the trading price of NKE have been publicly disclosed. Subsequent disclosure of any such events or the disclosure of or failure to disclose material future events concerning Nike, Inc. could affect the value of the Funds investments with respect to NKE and therefore the value of the Fund. Neither the Trust, the Fund nor any of its respective affiliates makes any representation to you as to the performance of NKE.

NKEL Costs and Fees

NKEL costs about $115 per $10,000 invested per year in fund expenses.

• Net expense ratio: 1.15%
• Gross expense ratio: 1.57%
• Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)

NKEL Cashflows

Over the 12 months to 2023-03, AXS 2X NKE Bull Daily ETF had net inflows of $4.09M, from monthly SEC N-PORT filings.

NKEL Debt Constituents

No individual debt constituents are reported in AXS 2X NKE Bull Daily ETF's latest SEC N-PORT filing.

NKEL Prospectus and SEC Filings

Official AXS 2X NKE Bull Daily ETF filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus supplement (497) — filed 2022-07-15
• Portfolio holdings (N-PORT) — filed 2023-05-23
• Portfolio holdings (N-PORT) — filed 2023-02-21
• Portfolio holdings (N-PORT) — filed 2022-11-25
• Annual census (N-CEN) — filed 2023-06-07

Related Funds

Other Leveraged funds tracked on ABC INVEST:

• ProShares UltraPro QQQ (TQQQ)
• JPMorgan Ultra-Short Income ETF (JPST)
• Ultra Fund (TWCUX)
• Oakmark Fund (OAKMX)
• Ultra Short Income Portfolio (MUIIX)

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.