I like Global X, I think they’ve launched some interesting, well thought-out exchange traded products over the last few years. But this latest lauch, a social media ETF, is corny, foolish and totally unnecessary…
Global X, the New York-based fund provider focused largely on commodity and emerging markets, rolled out today the market’s first ETF to focus solely on social media companies, recalling First Trust’s niche Internet-linked funds.
The Global X Social Media Index ETF (NasdaqGM: SOCL) is the first portfolio allocated entirely to social media names, tracking the 28-security free-float, market-capitalization-weighted Solactive Social Media Index. It comprises companies involved with social networking, file sharing and other Web-based applications. SOCL comes with a net expense ratio of 0.65 percent.
Do we really have to pretend that social media is a business unto itself? None of the companies that comprise the ETF are in “new businesses” or so special that they need to be in their own index vehicle. Groupon is not a social media company – it’s in the hundred year-old coupon business. LinkedIn is basically the yellow pages. Zynga is a video game maker.
So lame. And like other contrived indexes, half the components of this thing will be competing with the other half in a zero-sum game that virtually ensures it will go nowhere. If you want tech, just buy the QQQ’s or something.
Raise your hand if you plan to invest your money in the “social media” ETF….Great, now take that hand and slap yourself across the face with it.
I’m a New York City-based financial advisor at Ritholtz Wealth Management LLC. I help people invest and manage portfolios for them. For disclosure information please see here.
Get a Full Investor Curriculum: Join The Book List
Every month you'll receive 3-4 book suggestions--chosen by hand from more than 1,000 books. You'll also receive an extensive curriculum (books, articles, papers, videos) in PDF form right away.
sex toy public
[…]very few websites that transpire to become detailed beneath, from our point of view are undoubtedly properly really worth checking out[…]
glass g spot vibe
[…]Sites of interest we’ve a link to[…]
best masturbator
[…]Every when inside a although we pick blogs that we read. Listed below would be the latest web sites that we choose […]
read what he said
[…]Sites of interest we’ve a link to[…]
g spot dildo
[…]check beneath, are some absolutely unrelated web-sites to ours, nevertheless, they may be most trustworthy sources that we use[…]
Adam and Eve
[…]please go to the internet sites we stick to, including this one particular, as it represents our picks in the web[…]
stimulating cream
[…]just beneath, are numerous absolutely not related websites to ours, nonetheless, they may be certainly really worth going over[…]
explanation
[…]Here are some of the web sites we advise for our visitors[…]
Sex Toy for Men
[…]we came across a cool internet site that you simply might love. Take a look should you want[…]
Penis pump
[…]usually posts some quite interesting stuff like this. If you are new to this site[…]
Ben Wa
[…]we came across a cool web site that you could enjoy. Take a appear for those who want[…]
cheap stocks
[…]just beneath, are a lot of completely not related web sites to ours, having said that, they are surely worth going over[…]
Industrial
[…]that would be the end of this write-up. Here youll locate some sites that we feel you will appreciate, just click the hyperlinks over[…]
you could try these out
[…]usually posts some incredibly interesting stuff like this. If you are new to this site[…]
visit their website
[…]The facts talked about within the report are several of the most effective available […]