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Conservative ETF Reshuffles, ‘QQQ’ Sibs Hit $1B | ETF.com

Conservative ETF Reshuffles, ‘QQQ’ Sibs Hit $1B

January 14, 2021

The American Conservative Values ETF (ACVF), a new-to-market actively managed U.S. large cap equity fund that invests in companies perceived to be aligned with politically conservative values, said this week it has ended new purchases of three major stocks: Apple, Amazon, and Google.

The move came in reaction to what the firm says is these companies’ “collective efforts to censor free speech in America.” Specifically, the decision stemmed from Apple, Amazon and Google’s recent blocking of access to social media platform Parler.

Widely perceived as the growing platform for conservatives, Parler was suddenly blocked across various platforms and app stores following last week’s storming of Capitol Hill. You can no longer download that app or access it via these platforms.

“The notion that these ‘Big Tech’ companies believe that they can anoint themselves de facto censors of free speech not only assaults the rights and freedoms upon which America was built, but also (ironically) the very underpinnings of the United States Constitution that enabled these politically left-leaning Silicon Valley companies to become the billion-dollar juggernauts they are today,” the company said in a press release.

Current fund allocation to these three stocks will be removed “in a way that seeks to maximize investor outcomes,” according to ACVF. Apple, Amazon and Google represent roughly 17% of the portfolio's total mix today and snag the top three biggest holding positions.

ACVF launched last October, and costs 0.75% in expense ratio.

QQQ’s Siblings Success

The Invesco NASDAQ 100 ETF (QQQM) and Invesco NASDAQ Next Gen 100 ETF (QQQJ) have hit a major milestone barely three months out of the gate: They’ve crossed a combined $1 billion in assets under management this week.

These siblings to the massive $150 billion Invesco QQQ Trust (QQQ), one considered a mini, cheaper version of the original QQQ and the other a what’s-next for QQQ, have found a strong following in a year when growth and technology stood out among other segments.

These new ETFs launched three months ago are Invesco’s most successful launch ever. The firm manages over $300 billion in U.S.-listed ETF assets, roughly half of which are sitting in this trio of Nasdaq-100-linked ETFs—QQQ, QQQM and QQQJ.

Contact Cinthia Murphy at cmurphy@etf.com

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