Key stats
About CNIC ICE U.S. Carbon Neutral Power Futures Index ETF
Expense ratio
1.03%
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Inception date
May 18, 2023
AMPD is the first commodity-based, carbon-neutral ETF. It tracks an index that provides net zero carbon exposure to the broad US electricity market. The fund holds long-only, exchange-traded electricity futures from six major US power hubs. Electricity futures must be liquid and cash-settled to be eligible, selected contracts are weighted based on average annual load. AMPD attempts to offset the carbon generated by its electricity portfolio through investments in CCA and RGGI carbon allowance futures. It holds a sufficient number of carbon allowance futures and allocates the necessary weight to be carbon neutral. The fund rolls electricity futures on a continuous 12-month strip, while carbon allowance futures are rolled incrementally over a 3-month period. AMPD may also hold short-term US Treasurys for margin or as collateral. The fund utilizes a Cayman Island subsidiary to gain exposure, thus avoiding issuing a K-1 form to investors.
Classification
What's in the fund
Exposure type
Mutual fund
Bonds, Cash & Other100.00%
Mutual fund99.78%
Cash0.22%
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