3. AGFiQ U.S. Market Neutral Anti-Beta Fund (NASDAQ:FTSM)
Year-to-Date Return in 2022 as of December 29: 21.76%
AGFiQ U.S. Market Neutral Anti-Beta Fund aims to provide a consistent negative beta exposure to the U.S. equity market. The fund will invest primarily in long positions in low-beta U.S. equities and short positions in high-beta U.S. equities on a dollar-neutral basis, within sectors.
As of December 29, AGFiQ U.S. Market Neutral Anti-Beta Fund holds a volume of 628,700 along with net assets of $383.14 million. The net expense ratio of the fund is 1.54% along with a yield of 0.00%. The net asset value is $21.20, and the current share price of this ETF is $21.26.
Moderna, Inc. (NASDAQ:MRNA) is one of the top 10 holdings in this ETF with 0.92% assets. It is a biotechnology company that discovers, develops, and commercializes messenger RNA therapeutics and vaccines for the treatment of infectious diseases, immuno-oncology, rare diseases, cardiovascular diseases, and auto-immune diseases in the United States, Europe, and internationally. At the end of the third quarter of 2022, 44 hedge funds in the database of Insider Monkey held stakes worth $1.97 billion in Moderna, Inc. (NASDAQ:MRNA), compared to 45 in the previous quarter worth $2.6 billion.
In its Q3 2022 investor letter, Baron Funds, an asset management firm, highlighted a few stocks and Moderna, Inc. (NASDAQ:MRNA) was one of them. Here is what the fund said:
“Within biotechnology, the underperformance of Moderna, Inc. (NASDAQ:MRNA) and lower exposure to this better-performing sub-industry weighed the most on relative performance. Shares of Moderna, a leader in the emerging field of mRNA-based vaccines and therapeutics, declined due to increasing uncertainty around what a booster market could look like as COVID shifts away from pandemic status and becomes an increasingly commercial market rather than government funding.”
