Last Thursday, Subversive Capital Advisers filed a registration statement with the U.S. Securities and Exchange Commission (SEC) to launch two exchange-traded funds (ETFs) that track the reported investments of either Democratic or Republican members of Congress.
The Democratic tracker is called the Unusual Whales Subversive Democratic Trading ETF, and the ticker symbol for the fund is NANC. The Republican tracker is the Unusual Whales Subversive Republican Trading ETF, and the ticker for this one is KRUZ.
Here is a chance for retail investors to act on their widely held belief that members of Congress have access to more information than the rest of us. Subversive Capital’s funds follow the same principle as ETFs that track the investments of hedge funds: follow the smart money. Whether congressional trades and investments are equally smart remains to be seen.
This post originally appeared at 24/7 Wall St.