Key facts
- Two new ETFs, Nasdaq-100 Ex-Elon Enterprises ETF and S&P 500 Ex-Elon Enterprises ETF, have been registered.
- These ETFs are designed to exclude companies founded, controlled, or led by Elon Musk.
- Tesla (TSLA) and Space Exploration Technologies Corp. (SPCX) are explicitly named as excluded companies.
- The funds are legally registered by Tidal Trust I and attached to the Subversive Markets Lab LLC brand.
- The ETFs aim to provide capital appreciation through exposure to large-cap U.S. equity securities.
Two new exchange-traded funds (ETFs) have been registered with the aim of excluding companies associated with Elon Musk. The Nasdaq-100 Ex-Elon Enterprises ETF and S&P 500 Ex-Elon Enterprises ETF, created by Subversive Capital and legally registered by Tidal Trust I under the Subversive Markets Lab LLC brand, are designed to block investments in companies founded, controlled, or led by Musk. As of the prospectus filing, Tesla (TSLA) and Space Exploration Technologies Corp. (SPCX) are explicitly named as excluded enterprises. The funds seek to provide capital appreciation by investing in a broad universe of large-capitalization U.S. equity securities while avoiding those linked to Musk. This move reflects a growing demand for investment vehicles that allow investors to avoid exposure to the world's richest person, whose companies are often included in major market indices like the S&P 500 and Nasdaq 100.