Investors can now buy S&P 500 and Nasdaq 100 funds that strip out Musk-linked stocks

Wall Street firm Subversive Capital has launched two exchange-traded funds that explicitly exclude companies founded, controlled, or led by Elon Musk, according to reports from TechCrunch and Bloomberg. The funds, tickers QQNE and SPNE, track the Nasdaq 100 and S&P 500 respectively while screening out major Musk-associated firms including Tesla and SpaceX.

"The funds capitalize on growing negative sentiment toward Musk related to his work with DOGE, controversial comments on X, and a gesture at Trump's inauguration that resembled a Nazi salute."

That backdrop of controversy appears to be driving the product, as Subversive Capital positions the ETFs for investors who want no exposure to the world's richest person within broad market holdings.

"offering a way for investors who want less exposure to the world's richest person to avoid his companies in their broad market investments."

The launches reflect a broader trend in values-based investing, as ShortSingh noted that the funds tap into "growing investor demand for values-based and targeted exclusion investment products." Subversive's move follows other ETFs that cater to specific investor preferences about Musk, giving those who wish to avoid his business empire a straightforward tool for broad-market indexing without the Musk-linked stocks.

ShortSinghTwo new ETFs launched to help investors avoid Elon Musk-linked companies