ProcureAM Announces Ticker Change for Disaster Recovery Strategy ETF
ProcureAM has announced a ticker change for its ETF from FEMA to FIXT, effective February 15, 2023. This change reflects the fund's focus on global companies engaged in natural disaster recovery and risk reduction efforts. The ETF aims to support industries that mitigate damages from climate-related events, with estimates showing annual disaster costs could reach $2 trillion by century's end. The fund tracks the VettaFi Natural Disaster Recovery and Mitigation Index, which includes businesses involved in various recovery sectors. This aligns with the increasing frequency and intensity of natural disasters.
- Ticker change to FIXT aligns with the fund's mission to address natural disaster recovery and risk reduction.
- The ETF provides exposure to companies engaged in crucial recovery efforts, potentially appealing to socially conscious investors.
- Projected market demand for disaster recovery solutions is high, with costs expected to escalate to $2 trillion annually.
- Investors face risks associated with volatility in small and mid-cap companies within the fund's portfolio.
- Natural disasters' unpredictability may lead to significant financial losses for companies involved.
New ticker FIXT reflects constituents' role in fixing or reducing the impact of damages caused by natural disasters
LEVITTOWN, PA / ACCESSWIRE / February 15, 2023 / ProcureAM announced today that the Procure Disaster Recovery Strategy ETF will begin trading under the new ticker symbol FIXT, effective February 15, 2023. This unique fund will continue its original mission of providing exposure to global companies that are engaged in recovery and risk reduction efforts as a result of natural disasters. Previously trading under the ticker symbol FEMA, this ticker change conveys the goal of leveraging private sector resources to fix or reduce the likelihood of damages caused by extreme weather events.
"The reality is that natural disasters are occurring more frequently and with greater intensity than ever before," says Andrew Chanin, Co-Founder and CEO of ProcureAM. "As we continue to witness the devastating impacts of climate change, communities want their damage prevention systems "FIXT" to reduce or prevent natural disaster-related destruction. When natural disasters do occur, communities want the damage "FIXT" as soon as possible. FIXT serves as a tool for investors to support the crucial risk mitigation and recovery industry."
FIXT focuses on companies that provide natural disaster prevention, recovery, reconstruction and mitigation. Without the ability and resources of restoration companies to help communities recover and build back, damage could even be more devastating. The below statistics paint a staggering picture for the industry:
$424,256,230 was the average daily cost of natural disasters between 2002-2022.1- The US government predicts that damages from hurricanes, wildfires, floods, droughts, severe storms and earthquakes could cost
$2 trillion per year by the end of the century.2 - By 2030, the UN predicts 560 disaster events a year.3
FIXT tracks the VettaFi Natural Disaster Recovery and Mitigation Index, an equal-weighted index of stocks that are involved with the recovery and mitigation of natural disasters. Included in the Index are companies with government contracts for natural disaster recovery and mitigation, companies involved with home improvement retail, companies involved in water management, as well as companies materially engaged in emergency/backup power generators and batteries. These companies may be engaged in short-term repairs or long-term infrastructure projects.
To learn more about FIXT, the Procure Disaster Recovery Strategy ETF visit www.ProcureETFs.com or contact ETFs@procuream.com.
About ProcureAM
ProcureAM, LLC (ProcureAM) is an innovative exchange-traded product (ETP) issuer based in Levittown, Pennsylvania. Established by renowned industry veterans Robert Tull and Andrew Chanin, ProcureAM offers a unique platform for the creation of both proprietary and partnered ETPs. ProcureAM listens to clients and endeavors to provide investors with access to distinct investment opportunities. Whether you are looking to invest in ETPs or create one, contact ProcureAM to explore your performance potential: www.ProcureETFs.com.
Media contact:
Gregory FCA for ProcureAM
Kathleen Elicker
484-889-6597
procuream@gregoryfca.com
1https://www.emdat.be April 2022
2https://www.cnbc.com April 4, 2022
3https://news.un.org April 26, 2022
Please consider the Funds investment objectives, risks, and charges and expenses carefully before you invest. This and other important information is contained in the Fund's summary prospectus and prospectus, which can be obtained by visiting procureetfs.com. Read carefully before you invest.
Investing involves risk. Principal loss is possible. The Fund is also subject to the following risks: Shares of any ETF are bought and sold at market price (not NAV), may trade at a discount or premium to NAV and are not individually redeemed from the funds. Brokerage commissions will reduce returns. Securities of small- and mid-capitalization companies may experience much more price volatility, greater spreads between their bid and ask prices and significantly lower trading volumes than securities issued by large, more established companies. The Fund is not actively managed so it would not take defensive positions in declining markets unless such positions are reflected in the underlying index. Please refer to the summary prospectus for a more detailed explanation of the Funds' principal risks. It is not possible to invest in an index.
Natural Disaster/Epidemic Risk - Natural or environmental disasters, such as earthquakes, fires, floods, hurricanes, tsunamis and other severe weather-related phenomena generally, and widespread disease, including pandemics and epidemics, have been and may be highly disruptive to economies and markets, adversely impacting individual companies, sectors, industries, markets, currencies, interest and inflation rates, credit ratings, investor sentiment, and other factors affecting the value of the Fund's investments. Foreign Investment Risks - Foreign securities are typically more volatile, harder to price, and less liquid than U.S. securities.
The Procure Disaster Recovery Strategy product is neither associated with, nor endorsed by, the Federal Emergency Management Agency.
Procure Disaster Recovery Strategy ETF (FIXT) is distributed by Quasar Distributors LLC
SOURCE: ProcureAM
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FAQ
What does the new ticker symbol FIXT represent?
When did the ticker change from FEMA to FIXT?
What is the primary focus of the Procure Disaster Recovery Strategy ETF?
What is the expected annual cost of damages from natural disasters by the end of the century?
How does FIXT track its investments?
