SPAQ Performance — Horizon Kinetics SPAC Active ETF
Data updated: 2026-08-26
SPAQ returned +2.38% year to date and +4.35% over one year to Jun 2026. The annualised 3-year return is +5.96%. The fund trailed its Financials Equity category average: $100 invested three years ago grew to $119, against $158 for the category, and to $104 over one year, against $112. Volatility over the past three years was 2.03% a year. In the 12 months to Jun 2026 the fund lost a net $5.2M, and assets reached $10.09M.
SPAQ Growth of $100
What $100 invested in Horizon Kinetics SPAC Active ETF grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Financials Equity category average over the same months.
| Period | SPAQ | Category average |
|---|---|---|
| 1 year (Jul 2025 – Jun 2026) | $104 | $112 |
| 3 years (Jul 2023 – Jun 2026) | $119 | $158 |
| Since data start (Jan 2023 – Jun 2026) | $123 | $157 |
SPAQ Trailing Returns
Total returns to Jun 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +2.38% |
| 1 year | +4.35% |
| 3 years (annualised) | +5.96% |
SPAQ Annual Returns
Calendar-year total returns of Horizon Kinetics SPAC Active ETF, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jun) | +2.38% |
| 2025 | +8.84% |
| 2024 | +4.27% |
| 2023 | +5.91% |
SPAQ Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +0.7% | −0.7% | −0.2% | +0.9% | +0.9% | +0.8% | — | — | — | — | — | — |
| 2025 | +0.7% | +0.9% | +1.0% | +0.7% | +2.1% | +1.1% | −0.3% | −0.5% | +1.4% | +1.8% | −0.6% | +0.1% |
| 2024 | +0.5% | +0.5% | +0.1% | +0.5% | +0.3% | 0.0% | +0.5% | +0.1% | +0.3% | +0.5% | +0.4% | +0.6% |
| 2023 | +1.1% | +0.5% | +0.4% | +0.6% | +0.4% | +0.5% | +0.5% | +0.5% | +0.4% | +0.2% | +0.4% | +0.4% |
SPAQ Risk
Risk measures from monthly returns over Jul 2023 – Jun 2026.
- 3-year volatility (annualised): 2.03%
- 3-year Sharpe ratio: 0.72 (vs 4.5% risk-free rate)
- Best month: +2.14% (May 2025)
- Worst month: −0.70% (Feb 2026)
SPAQ Fund Flows
Monthly money in and out of Horizon Kinetics SPAC Active ETF, from SEC Form N-PORT.
- 12-month net flow: −$5.2M
- 12-month gross sales (incl. reinvestments): $0
- Sales ÷ redemptions: 0.00×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jun 2026 | $0 | $0 | $0 |
| May 2026 | $0 | $0 | $0 |
| Apr 2026 | $0 | $0 | $0 |
| Mar 2026 | $0 | $0 | $0 |
| Feb 2026 | $0 | $0 | $0 |
| Jan 2026 | $0 | $0 | $0 |
| Dec 2025 | $0 | $0 | $0 |
| Nov 2025 | $0 | $0 | $0 |
| Oct 2025 | $0 | $2.1M | −$2.1M |
| Sep 2025 | $0 | $0 | $0 |
| Aug 2025 | $0 | $3.1M | −$3.1M |
| Jul 2025 | $0 | $0 | $0 |
SPAQ Assets Under Management
Net assets of Horizon Kinetics SPAC Active ETF by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-06-30 | $10.09M |
| 2026-03-31 | $9.83M |
| 2025-12-31 | $9.85M |
| 2025-09-30 | $13.44M |
| 2025-06-30 | $16.50M |
| 2025-03-31 | $16.87M |
| 2024-12-31 | $17.41M |
| 2024-09-30 | $17.68M |
| 2024-06-30 | $17.53M |
| 2024-03-31 | $16.41M |
| 2023-12-31 | $16.24M |
| 2023-09-30 | $16.50M |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.