(ZeroHedge) Tuttle Capital Management, the same genius minds that brought us the Anti-ARKK Innovation Fund ETF and the Short Jim Cramer ETF, are now launching a “Get Woke, Go Broke” ETF that’ll trade under the ticker GWGB.
It’s called the Tuttle Capital Inverse Socially Conscious ETF and it plans to launch this year.
“The Advisor seeks to achieve the Fund’s investment objective by investing in U.S. listed mid and large cap equity securities that the Advisor deems to meet its politically conservative or politically neutral criteria and by taking short positions in U.S. listed equity securities that the Advisor has deemed to be following ‘woke’ policies,” a filing with the SEC said this week.Â
“The Advisor believes that companies with ‘woke’ policies negatively impact their shareholders’ value by alienating conservative investors, customers, and employees, which impacts the companies’ market value; as a result, in addition to the equity investments described above, the Advisor intends to short 10 to 20 of these companies to capture some of the value of that financial impact,” it adds.
The filing says: “The politically conservative criteria utilized by the Advisor to select securities for the Fund include the Advisor’s qualitative opinion of a company’s adherence to conservative values and beliefs such as ‘American Exceptionalism’ (the belief that the United States is either distinctive, unique, or exemplary compared to other nations), individual liberty (the liberty of those persons who are free from external restraint in the exercise of those rights that are considered to be outside the province of a government to control) and free enterprise (a belief that businesses should be free to operate for profit in a competitive system without interference by government).”
It continues: “The politically neutral criteria utilized by the Advisor to select securities for the Fund are that, in the Advisor’s opinion, a company that has no political activity at all and focuses purely on profits and sales.”
“The Advisor defines ‘woke’ policies as policies of a company that the Advisor believes are perceived as hostile to conservative values, based on such company having a negative reputation among politically conservative investors, having business activities that alienate politically conservative customers and employees, and disproportionately supporting liberal causes. Such policies could be financial, part of corporate governance, marketing, business strategy, or public activism,” it adds.
