SPUN tracks the performance of the Horizon Kinetics Global Spin-Off Index, which equally weights components. Specifically, SPUN will build a position in the early stages after a spin-off occurs, capitalizing on short-term selling pressure to buy low. Additionally, index components will be held for five-years to capture any potential long-term opportunities. [Inside the Global Spin-Off ETF]
SPUN has the ability to add new spin-offs every quarter, so it is likely the ETF includes PayPal before the rival Guggenheim Spin-Off ETF (NYSEArca: CSD) does. CSD can include spinoffs that have been spun-off over the past 30 months, but no more recently than six months before the time that ETF rebalances.
Renaissance IPO ETF