Tom Lee’s Granny Pictures ETF rakes in $2 billion in AUM simply 9 months then inception

An ETF pushed by means of Tom Lee, an unabashed bull on Wall Side road with a weighty on-line fandom, simply collision any other milestone.

His first exchange-traded investmrent Fundstrat Granny Pictures US Immense Cap ETF (GRNY) has surpassed $2 billion in belongings underneath control in not up to 9 months since its inception in November.

It marks an extraordinary luck tale in an trade the place elevating simply 10% of that degree can rush years. The rate to succeed in $2 billion ranks negative.1 out of 258 U.S.-listed actively controlled large-cap fairness ETFs, in line with Morningstar and FactSet knowledge.

GRNY, an actively controlled ETF, invests in round 35 top quality shares within the S&P 500. The investmrent, with govern holdings comparable to Robinhood and Oracle, is up greater than 18% moment to pace, outperforming the S&P 500 by means of over 9 share issues.

The Fundstrat co-founder and previous JPMorgan strategist received a plethora on-line following by means of making daring yells available on the market and speaking with traders regularly and well timed.

“We want to make investing in our ETF understandable and transparent,” Lee mentioned in a observation.

“Granny shot” is a connection with taking pictures a basketball underhand on the independent throw series the place the participant releases the ball from underneath the waist. For Fundstrat, it way figuring out shares that fall underneath more than one key funding issues over the later 5 to ten years. The ones issues come with power and cyber safety, an AI-category referred to as world exertions providers, and the affect of millennials.

The Granny Pictures investmrent has an expense ratio of 0.75%.

Disclosure: Tom Lee is a CNBC contributor.