In response to public backlash over his recent controversies, Subversive Capital has launched two new ETFs explicitly excluding Tesla and SpaceX. These funds, named Nasdaq-100 Ex-Elon Enterprises ETF and S&P 500 Ex-Elon Enterprises ETF, are designed to block companies closely associated with Elon Musk.
The move reflects a growing appetite among investors for alternative investment options that exclude certain high-profile figures. Prior to this, Subversive had already gained attention for its 'invest like the oligarchy' ETFs, mirroring stock picks made by US Congress members and their spouses.
While these Ex-Elon funds may provide a new avenue for investors seeking to avoid Musk's companies, it remains to be seen whether they will outperform similar funds that include them. Given his history of hostility towards short-sellers, it’s possible that these ETFs might even annoy him.
The ticker symbols for the new funds are QQNE and SPNE, allowing investors to trade in what amounts to a playful form of avoidance. Whether this is seen as a serious investment strategy or just another quirky trend remains to be seen.
