Sparkline International Intangible Value ETF (DTAN)

The Sparkline International Intangible Value ETF (DTAN) is an actively managed equity fund from Sparkline Capital. It invests in companies in developed markets outside the United States.

Sparkline's approach extends traditional value investing by accounting for intangible assets such as intellectual property, brand equity, human capital and network effects, which are poorly captured on conventional balance sheets. The firm uses quantitative methods, including the analysis of text data, to estimate these intangibles and seeks companies that appear inexpensive relative to both their tangible and intangible value.

The fund is a companion to Sparkline's U.S.-focused intangible value strategy and applies the same research framework to international markets. Its holdings can differ substantially from those of conventional value indexes, which tend to favor companies rich in physical assets.