An exchange-traded fund (ETF) that tracks the stock trades of Democratic members of Congress has been outperforming the S&P 500 since its launch in 2023.
What Happened: The Unusual Whales Democratic ETF (BATS:NANC), in a nod to former House Speaker Nancy Pelosi, has seen a 30% surge since its inception on Feb. 7, 2023. This growth surpasses the 24% gain of the S&P 500 during the same period, reported Business Insider.
The ETF’s performance is largely attributed to its significant investments in major tech companies, including Microsoft (NASDAQ:MSFT), Amazon (NASDAQ:AMZN), Apple (NASDAQ:AAPL), and Nvidia (NASDAQ:NVDA). These four companies are the fund’s largest holdings, with Microsoft alone accounting for nearly 10% of the fund.
The ETF includes tech giants such as Microsoft, Amazon, Apple, Nvidia, Salesforce, and Alphabet. These six stocks make up 32% of the fund’s total market value. The fund comprises a total of 719 stocks.
It’s worth noting that the lawmakers tracked by the fund also hold shares in ...