WGMI

Valkyrie Bitcoin Miners ETF

WGMI provides active exposure to companies that derive at least 50% of their revenue from bitcoin mining operations and/or services related to bitcoin mining.


Global

EQUITY

Active

MANAGEMENT STYLE

218.3 M

ASSETS UNDER MGMT

75 bp

EXPENSES
Fund Basics
Fund sponsorValkyrie Funds LLC
CategoryGlobal
Asset classEquity
Websitelink...
Inception dateFeb 07, 2022
Assets (mns)$218
Expense ratio75 bp
CurrencyUSD
Sector Breakdown
Fund Structure
RegulationOpen-Ended Fund
DistributionsAnnually
Taxation1099
Stock selectionProprietary
WeightingProprietary
Holdings TransparencyFull
Derivatives-basedNo
Options availableYes
Currency hedgedNo
Fund of fundsNo
Top 10 Holdings
IRIS ENERGY LTD. 15.9 %
CORE SCIENTIFIC, INC. 13.5 %
CIPHER MINING INC 10.1 %
CLEANSPARK, INC. 9.0 %
BITDEER TECHNOLOGIES GROUP 8.7 %
HUT 8 CORP 7.2 %
RIOT BLOCKCHAIN INC 5.8 %
TERAWULF INC. 4.9 %
MARATHON DIGITAL HOLDINGS INC 4.5 %
BIT DIGITAL, INC. 4.3 %
Constituent Breakdown
Number of holdings17
Herfindahl-Hirschman Index 887
Wgt avg mkt cap (mns)$16,491
Large cap (>$10bn)3.9%
Mid cap ($2-10bn)13.5%
Small cap (<$2bn)82.6%
Developed mkts.99.5%
Emerging mkts.0.5%
Country Exposure
UNITED STATES 63.1 %
AUSTRALIA 15.9 %
CANADA 11.0 %
TAIWAN 0.5 %
Historical Performance


Standardized Performance (as of 11/30/2024)
 YTD1 YR2 YR3 YR5 YR10 YRIncep.
Total Returns 50.8% 143.5% 119.1% -- -- -- 1.3%
Volatility 83.6% 86.0% 82.9% -- -- -- --
Market Correlations
versus...BetaR-squared
S&P 5003.6039%
MSCI EAFE2.8224%
MSCI Emg Mkts2.6422%
Liquidity Measures
Avg. volume (000)718
Turnover8.2%
Avg. Bid/Ask (% of price)0.31%
ADV of underlying (mns)$35,638
Technical Indicators
Recent close$24.88
30d moving avg.$27.56
Annualized volatility101.5%
Relative strength (RSI)53
Short interest (ETF)5.2%
Short interest (underlying)0.0%
Distributions
Assets Under Management (mns)

Money Flows (mns)

Short Interest (as % of shares outstanding)

Long Money Flows (mns)

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Risk and Returns: WGMI vs. Comps (1 YR)

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Results & Estimates
  2019 2020 2021 2022 2023 2024E 2025E  
Sales per share -- -- -- -- -- -- --
  change (%) -- -- -- -- -- -- --
Earnings per share -- -- -- -- -- -- --
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Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates

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Valuation Metrics
  2023 2024E Fwd Est 2025E
Price-to-sales --x --x --x --x
Price-to-earnings --x --x --x --x
Price-to-cash flow --x --x --x --x
Price-to-growth --x --x --x --x
Price-to-book value --x --x --x --x
Yield --% --% --x --%
1.3 30.5 4.2 0.1% --
Based on closing prices from 12/20/2024
Historical Valuation Trends Sample data. Subscribe for access.

SHOWING:
Price-to-Earnings
WGMI



Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.

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ETF Research Center Rating

AVOID

Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may be less relevant.

ALTAR Score™

WGMI

-6.8%

Cat. Avg

4.2%


ALTAR Score™ Calculation

Category Overview
There are 374 funds in the Global Equity category, with an average ALTAR Score™ of 4.2% and a standard deviation of 4.8%. WGMI's ALTAR Score™ is approximately 2.3 standard deviations below the category average. This places WGMI in the 1st percentile among funds in the category.
Sell Side Consensus Rating

Sell-side recommendations on the ETF's individual constituents

WGMI
Peer Average
SELL
U/W
HOLD
O/W
BUY
Factor Scorecard

SIZE
VALUE
YIELD
MOMENTUM
VOLATILITY
QUALITY
Expense Analysis

Peer Group Active
Global Equity ETFs
# of ETFs 118
Avg. Expense Ratio 73.5 bp
Std. Deviation 29.8 bp
WGMI (75 bp) Percentile rank 55
Peer Group Expense Ratio Distribution


Total Cost of Ownership (TCO) Comparison
Expense (bp)
(A)
Avg. Bid/Ask (bp)
(B)
TCO (bp)
(A)+(B)
WGMI 75.0 30.9 105.9
Peer Avg. 74.2 38.8 113.0
  For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .