Subversive Launches Two Broad Market ETFs Excluding Musk Companies

Subversive ETFs launched the Subversive S&P 500 Redacted ETF (XXSP) and Subversive Growth 100 Redacted ETF (XXQQ) on Cboe on October 9. The actively managed funds offer exposure to the S&P 500 and Nasdaq-100 universes, respectively, while excluding companies founded, controlled or led by Elon Musk. XXSP excludes Tesla, while XXQQ excludes Tesla and Space Exploration Technologies Corp., according to the announcement. Both funds will screen out other Musk-linked companies if they become eligible for their investment universes. The strategy gives investors a way to limit exposure to a single influential founder while retaining broad equity exposure. Investors can also direct new contributions and dividends into the funds without selling existing holdings. The launches expand Subversive’s lineup alongside NANC and GOP, which follow reported stock trades by Democratic and Republican members of Congress.