Subversive ETFs filed with the SEC to launch two funds excluding Elon Musk-led companies.
The S&P 500 Ex-Elon Enterprises ETF (SPNE) and Nasdaq-100 Ex-Elon Enterprises ETF (QQNE) launch September 21, 2026.
These actively managed funds will initially exclude Tesla (TSLA) and SpaceX (SPCX).
Subversive ETFs will reallocate the weight of excluded firms across the remaining index components.
The launch responds to SpaceX's recent inclusion in the Nasdaq-100 index.
The funds target investors seeking to avoid volatility, corporate governance, and political risks.