SWEB — AXS Short China Internet ETF

SWEB Fund Overview

SWEB — AXS Short China Internet ETF is a US ETF managed by Investment Managers Series Trust II, categorised as Money Market. 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: Money Market
• Assets under management: $654.99K
• 1-year return: -35.6%
• Ticker: SWEB
• SEC CIK: 0001587982
• SEC series ID: S000075837
• Share class ID: C000235150

SWEB Investment Objective and Strategy

AXS Short China Internet 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 Fund seeks daily investment results, before fees and expenses, that correspond to the inverse (-1x) of the daily performance of the China Internet ETF. The Fund does not seek to achieve its stated investment objective over a period of time greater than a single day.

Principal investment strategy

"The Fund is an actively-managed exchange-traded fund (ETF) that seeks to achieve on a daily basis, before fees and expenses, the inverse (-1x) of the return of the China Internet ETF for a single day, not for any other period, by entering into one or more swap agreements on the China Internet ETF. 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 the China Internet ETF. 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 the China Internet ETF.

The Advisor expects to rebalance the Funds holdings daily to maintain exposure that is opposite to that of the China Internet ETF. As a result of its investment strategies, the Fund will be concentrated (i.e., hold 25% or more of its total assets in investments that provide exposure to an industry) to approximately the same extent as the China Internet ETF is so concentrated. 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).

KraneShares CSI China Internet ETF The China Internet ETF is an index based exchange traded fund that seeks to provide investment results that, before fees and expenses, correspond generally to the performance of an index designed to measure the equity market performance of investable publicly traded China-based companies whose primary business or businesses are in the Internet and Internet-related sectors (China Internet Companies) (as defined below), and are listed outside of mainland China. China-based companies are companies that: (i) are incorporated in mainland China; (ii) have their headquarters in mainland China; or (iii) derive at least 50% of their revenue from goods produced or sold, or services performed, in mainland China. China Internet Companies include, but are not limited to, companies that develop and market Internet software and/or provide Internet services; manufacture home entertainment software and educational software for home use; provide retail or commercial services primarily through the Internet; and develop and market mobile Internet software and/or provide mobile Internet services.

The China ETF may invest in China-related securities that are commonly referred to as China A-Shares, China-B-Shares, China-H-Shares, China-N-Shares, P-Chips, Red Chips and S-Chips. This document relates only to the securities offered hereby and does not relate to the underlying stock or other securities of the China Internet ETF. The Fund has derived all disclosures contained in this document regarding the China Internet ETF from the publicly available documents. In connection with the offering of the securities, neither the Fund, the Trust nor the Advisor has participated in the preparation of such documents or made any due diligence inquiry with respect to the China Internet ETF. Neither the Fund, the Trust nor the Advisor makes any representation that such publicly available documents or any other publicly available information regarding the China Internet ETF 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 the China Internet ETF (and therefore the price of the China Internet ETF at the time we price the securities) have been publicly disclosed. Subsequent disclosure of any such events or the disclosure of or failure to disclose material future events concerning the China Internet ETF could affect the value received with respect to the securities and therefore the value of the securities. Neither the Fund nor any of its affiliates makes any representation to you as to the performance of the China Internet ETF. THE AXS SHORT CHINA INTERNET ETF, Investment Managers Series Trust II, AND AXS Investments LLC ARE NOT AFFILIATED WITH KRANE SHARES TRUST, THE KRANESHARES CSI CHINA INTERNET ETF, KRANE FUNDS ADVISORS, LLC or any index ."

SWEB Performance

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

SWEB Risk Information

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

• 1-year volatility (annualised): 58.6%

SWEB Costs and Fees

SWEB costs about $95 per $10,000 invested per year in fund expenses.

• Net expense ratio: 0.95%
• Gross expense ratio: 1.15%
• Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)

SWEB Cashflows

Over the 12 months to 2023-03, AXS Short China Internet ETF had net inflows of $3.12M, from monthly SEC N-PORT filings.

SWEB Debt Constituents

No individual debt constituents are reported in AXS Short China Internet ETF's latest SEC N-PORT filing.

SWEB Prospectus and SEC Filings

Official AXS Short China Internet ETF filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2022-04-13
• 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 Money Market funds tracked on ABC INVEST:

• Emerald Growth Fund (HSPCX)
• Barings Active Short Duration Bond Fund (BXDIX)
• IVA Worldwide Fund (IVWAX)
• Stadion Tactical Growth Fund (ETFDX)
• BBH Partner Fund - Select Short Term Assets (BBSTX)

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.