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Rating:A Re-Tickered Thematic ETF Reaches One Year Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, June 6, 2023

A Re-Tickered Thematic ETF Reaches One Year

Reported by Neil Anderson, Managing Editor

The team at a Keystone State fund firm is celebrating the paper anniversary of a freshly re-tickered thematic index fund.

Andrew Chanin
ProcureAM, LLC / Procure Holdings
Chief Executive Officer
Last Thursday, June 1, was the first birthday of the Procure Disaster Recovery Strategy ETF (FIXT on the Nasdaq Stock Market LLC). As of yesterday, the fund had $671,487.04 in AUM.

The milestone comes less than four months after the ProcureAM, LLC team switched FIXT away from its old ticker, FEMA, on February 15. The fund initially debuted on June 1, 2022.

Andrew Chanin, CEO of Levittown, Pennsylvania-based ProcureAM, argues that investors often overlook "the importance of natural disaster risk mitigation and recovery."

"FIXT provides an opportunity for investors to support and make critical investments in the many companies around the global protecting us from natural disasters and helping communities rebuild in their aftermath," Chanin states.

FIXT is a series of the Procure ETF Trust II. The fund comes with an expense ratio of 75 basis points (which includes 488 bps in fee reductions and expense reimbursements promised through February 29, 2024).

The one-year-old, passive fund tracks the VettaFi Natural Disaster Recovery Index. GKD Index Partners, LLC (dba Alerian) serves as FIXT's index provider, ProcureAM as investment advisor, and Penserra Capital Management LLC as subadvisor. The fund's PM team includes: Anand Desai, senior vice president at Penserra; Dustin Lewellyn, chief investment officer at Penserra; and Ernesto Tong, managing director at Penserra.

FIXT's other service providers include: Cipperman Compliance Services (CCS) as CCO provider; Cohen & Company Ltd. as independent accountant; K&L Gates LLP as counsel; Quasar Distributors LLC as distributors; U.S. Bancorp Fund Services, LLC (dba U.S. Bank Global Fund Services) as administrator and transfer agent; and U.S. Bank, National Association as custodian and securities lending agent. 

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