There is a new MAGA ETF that will be targeting companies that support the Republican Party.

New MAGA ETF to Target Companies That Support Republican Party More

Point Bridge is the advisor for the new MAGA ETF and Vident Investment Advisory is its sub-advisor. The fund will track companies on the S&P500 that are supportive of the Republican Party. This includes those with employees, or PACs, that make $25,000 or more in donations during the last two elections.

The MAGA ETF’s full name is the “Point Bridge GOP Stock Tracker ETF.” It will be using “MAGA” as its ticker. This is most likely a reference to “Make America Great Again,” which was President Donald Trump’s campaign slogan. Vident President Denise Krisko will act as the manager of its portfolio.

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It isn’t yet known what securities the MAGA ETF will hold. However, a filing with the U.S. Securities and Exchange Commission reveals that its will have a yearly expense ratio of $72 per each $10,000 that is invested, reports MarketWatch.

The new MAGA ETF isn’t the only one that looks to draw on investors’ political beliefs. Active Weighting Advisors LLC is planning two different funds; one for Republican and the other for Democrats. The name of these ETFs are the Republican Policies Fund and the Democratic Policies Fund.

The difference betwwen the MAGA ETF and these are how they target companies. While the MAGA one will go for those supporting the Republican party, the other two will target companies that will likely perform well under the different parties policies. These other two ETFs will use “GOP” and “DEM” for their tickers, Reuters notes.

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