Subversive ETFs Launch Ex-Elon Funds Excluding Tesla and SpaceX Holdings
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- YahooFinance
Subversive ETFs has filed with the SEC to launch two new funds, the Nasdaq-100 Ex-Elon Enterprises ETF (QQNE) and S&P 500 Ex-Elon Enterprises ETF (SPNE), which will exclude companies associated with Elon Musk, primarily Tesla and SpaceX. This move is aimed at attracting investors who may have concerns about Musk's political views and corporate governance issues.
The introduction of these 'ex-Elon' funds reflects a growing sentiment among investors who wish to distance themselves from Musk's polarizing influence. Aniket Ullal from CFRA noted that while the concept is intriguing, the funds face challenges, including the fact that Tesla and SpaceX represent less than 5% of the Nasdaq-100, potentially limiting QQNE's differentiation from existing ETFs.
Investors will be watching closely to see if these funds can attract significant assets despite the risks of underperformance when Musk's companies excel. No further timeline was disclosed at the time of publication.
Original report
No SpaceX, No Tesla? No Problem for These ‘Ex-Elon’ ETFs
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