Fund manager Matthew Tuttle made waves in the ETF space for his unique funds that offer ways for investors to get leveraged exposure or bet against well-known financial figures like Jim Cramer and Cathie Wood.
Tuttle is back with a new fund that gives investors a way to invest in companies that are not meeting ESG (environmental, social, and governance) requirements.
What Happened: Tuttle Capital Management launched the ETF Opportunities Trust Tuttle Capital Shareholders First Index ETF ESGX, a new ETF that gives investors a way to invest in companies that "focus on profits, not politics or trendy activisms of the moment."
"ESGX allows investors to choose a portfolio of companies that follow the comment sense notion that companies that focus on profits are better for investors than companies that don't," a press release for the fund reads.
The ETF follows the AJN Shareholders First Index, which tracks a portfolio of U.S. companies that meet the requirement of focusing on profits and ignoring politics and "trendy activisms of the moment."
"Too many companies today put ESG and DEI politics first and their shareholders' profits last," Tuttle Capital CEO Matthew Tuttle said. "ESG has become a way for liberal executives and large investors to enact social changes that they can't pass at the ballot box."
Tuttle said CEOs can be pressured to "cave to the trendy politics of the moment," and often times this is not in the best interest of shareholders.
"That's why we launched ESGX – to put shareholders and profits first."
Tuttle added that investors had limited options of ways to invest in companies that put profits ahead of politics before the ETF launched.
As of Sept. 9, the following were the top holdings in the ESGX ETF:
- MarketAxess Holdings MKTX: 2.3% of assets
- Evergy Inc EVRG: 2.2% of assets
- J.B. Hunt Transport Services JBHT: 2.1% of assets
- MDU Resources Group MDU: 2.1% of assets
- RLI Corp RLI: 2.1% of assets
The ETF launch comes after companies like Anheuser-Busch InBev BUD, Planet Fitness PLNT, Target Corporation TGT and others have been accused by consumers and investors of focusing too heavily on ESG and DEI policies and "going woke" instead of worrying about financial growth and returns for shareholders.
Self Defense ETF Also Launches: Tuttle Capital also launched the Spinnaker ETF Series Tuttle Capital Self Defense Index ETF GUNZ Tuesday.
The fund invests in companies that are engaged in self-defense, with a belief that the United States is becoming less safe.
The ETF invests in companies that manufacture, service, supply and distribute personal and law enforcement defense equipment and protection services. The fund tracks the AJN Self Defense U.S. Equity Index.
"Americans feel less safe and feel there is more crime in the country now than last year. Many Americans are taking self defense into their own hands," Tuttle said.
Tuttle added that shares of gun manufacturers have also risen after the assassination attempt on former President Donald Trump.
"Gun sales have rebounded after nearly three years of continuous decline and firearms manufacturers world wide have seen their stock surge after the terrorist attack on Israel and the Trump assassination attempt."
As of Sept. 9, the following were the top holdings in the GUNZ ETF:
- Palantir Technologies PLTR: 8.9% of assets
- Johnson Controls JCI: 6.9% of assets
- AXON Enterprise AXON: 6.9% of assets
- Allegion PLC ALLE: 6.4% of assets
- OSI Systems OSIS: 6.4% of assets
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