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Traders at the New York Stock Exchange.
Choosing tickers for exchange-traded funds is looking more and more like a hashtag competition. First there was MOON, and then BUZZ. FOMO is the latest, based on the acronym for fear of missing out, a common emotion in the investing world today.
The newly launched FOMO ETF (ticker: FOMO) from Tuttle Capital Management aims to help mitigate that anxiety by packaging all the hot trends in one fund. “We wanted to be very agile, we wanted to be able to really be anywhere that’s been trending and not pigeonholed into one area,” says Matthew Tuttle, the firm’s CEO.
The ETF, which is actively managed, plans to have 75 to 100 holdings and will be rebalanced every week. But unlike other active funds, where portfolio managers choose the stockholdings based on their own convictions, the FOMO ETF is mainly a trend-following fund.