Tom Lee, managing spouse and the caput of probe astatine Fundstrat Global Advisors, speaks connected CNBC's "The Exchange" connected Oct. 31, 2023.
Adam Jeffery | CNBC
An ETF driven by Tom Lee, an unabashed bull connected Wall Street with a large online fandom, conscionable deed different milestone.
His archetypal exchange-traded money Fundstrat Granny Shots US Large Cap ETF (GRNY) has surpassed $2 cardinal successful assets nether absorption successful little than 9 months since its inception successful November.
It marks a uncommon occurrence communicative successful an manufacture wherever raising conscionable 10% of that level tin instrumentality years.
GRNY, an actively managed ETF, invests successful astir 35 high-quality stocks successful the S&P 500. The fund, with apical holdings specified arsenic Robinhood and Oracle, is up much than 18% twelvemonth to date, outperforming the S&P 500 by implicit 9 percent points.
The Fundstrat co-founder and erstwhile JPMorgan strategist gained a immense online pursuing by making bold calls connected the marketplace and communicating with investors often and timely.
"We privation to marque investing successful our ETF understandable and transparent," Lee said successful a statement.
"Granny shot" is simply a notation to shooting a hoops underhand astatine the escaped propulsion enactment wherever the subordinate releases the shot from beneath the waist. For Fundstrat, it means identifying stocks that autumn nether aggregate key investment themes implicit the adjacent 5 to 10 years. Those themes see vigor and cyber security, an AI-category called planetary labour suppliers, and the interaction of millennials.
The Granny Shots money has an disbursal ratio of 0.75%.
Disclosure: Tom Lee is simply a CNBC contributor.
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