TL;DRSubversive ETFs has filed with the SEC for two “Ex-Elon” funds, the Nasdaq-100 Ex-Elon Enterprises ETF (QQNE) and the S&P 500 Ex-Elon Enterprises ETF (SPNE), that track those indexes but exclude any company “founded, controlled or led by” Elon Musk, currently Tesla and SpaceX. The trigger was SpaceX’s fast-tracked Nasdaq-100 inclusion, which forced passive investors to hold it. The actively-managed funds (higher fees) are slated to launch around 21 September 2026.
An investment firm is offering a way to invest in the broad market without owning Elon Musk’s companies. New York-based Subversive ETFs has filed with the SEC for two “Ex-Elon” funds, Bloomberg reports.
One fund tracks the Nasdaq-100 and the other the S&P 500. Both exclude any company “founded, controlled or led by” Musk.
The products are the Nasdaq-100 Ex-Elon Enterprises ETF and the S&P 500 Ex-Elon Enterprises ETF, ticker symbols QQNE and SPNE. Filings point to a launch around 21 September.
The 💜 of EU techThe latest rumblings from the EU tech scene, a story from our wise ol' founder Boris, and some questionable AI art. It's free, every week, in your inbox. Sign up now!For now, the exclusions mean no Tesla and no SpaceX. Other Musk ventures, like Neuralink and the Boring Company, are not publicly traded, and the screen could extend to OpenAI, which Musk co-founded, if it ever lists.
