Strive Debuts Its First Semiconductor ETF

Strive Asset Management introduced its third exchange-traded fund, the Strive U.S. Semiconductor ETF (SHOC), on Thursday, following a lineup of products that rotate around the company’s “profits over politics” investment policy. 

SHOC will track the performance of the Solactive United States Semiconductors 30 Capped Index, which measures the investment results of the 30 largest U.S.-listed equities in the semiconductor sector. The index includes large, mid- and small capitalization companies. 

The ETF lists on the NYSE Arca and has an expense ratio of 0.40%, competing with other similar products such as the Invesco PHLX Semiconductor ETF (SOXQ), which has an expense ratio of 0.19%—less than half of SHOC’s fee.  

The top three holdings in the fund’s portfolio include Texas Instruments Inc., Broadcom Inc. and Advanced Micro Devices Inc., which collectively comprise almost 22% of net assets. Matt Cole, head of products and investments at Strive, will serve as SHOC’s portfolio manager. 

The Ohio-based asset management firm follows an investment strategy that is devoid of “mixed motivation to also advance a social objective,” according to its website. Portfolio managers at Strive have also been vocal critics of companies who make fiduciary decisions based on an environmental, social and governance policy framework. 

Strive declined to comment on the fund’s launch until Monday.  

Contact Zoya Mirza at [email protected]