Seriously? This Has Got to Be the Dumbest Idea for An ETF I Have Ever Seen

Not only is it stupid I would expect it to soon close for lack of sufficient assets

ETF Watch: A Fund For Sports ‘FANZ’

 A new ETF that launched today seeks to target companies that sponsor and partner with sports teams. The ProSports Sponsors ETF (FANZ) invests in companies that are official sponsors for the largest professional sports leagues in the U.S.—football, baseball, hockey and basketball—or that are national sports broadcasters that negotiate rights agreements with those same leagues.

Not surprisingly to me CNBC interviews one of the founders..a sportscaster to which the CNBC "finance reporter" responds "wow". The sportscaster explains how much "fun" it was to create this ETF

As the folk at DFA say "financial pornography" in both product and "analysis".

Of course the components of the etf really have nothing much to do with other. Amazon,Cisco and Papa Johns...seriously.



Unlike the marijuana ETF(see my other post on that one) which has already suffered big losses this one is still up from its opening price but still far below its opening price. I expect a round trip similar to the marijuana etf soon

Again note the spike in volume in the first few day (what a great investment idea") followed by a long period of minimal volume.