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So you want to invest like members of Congress?

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Fund manager Subversive Capital Advisor has partnered with Unusual Whales, an option flow platform and information service, to launch the Unusual Whales Subversive Democratic exchange-traded fund (NANC) and Unusual Whales Subversive Republican ETF (KRUZ). These are both US-listed exchange traded funds and are actively managed diversified ETFs that are now available to investors on the Cboe BZX Exchange.

Subversive said that Christian H. Cooper will act as the ETFs’ Portfolio Manager. “We have partnered with Unusual Whales to develop ETFs that will allow investors access to the approximate holdings of members of Congress in both parties,” said Cooper. “Subversive does not express a view on the NANC and KRUZ underlying equities, rather, we buy or sell securities based on Unusual Whales’ reporting of what members of Congress disclose they hold.”

That’s pretty much it in a nutshell. If you thought that maybe America’s top politicians might have an inside edge on what is happening in the country, these ETFs look to be specifically designed to reflect that. Former US House speaker Nancy Pelosi really helped to turn Congress trading into a spectator sport. Her activity has led many US traders to shadow the disclosed stock trading activities of members of Congress, as it is felt that politicians are buying and selling stock based on what they are seeing in the legislative pipeline.


“A quick online search shows how members of Congress perform relative to the rest of the market,” explains Cooper. “Congress has outperformed the market and beat the SPY index in 2021 and 2022. We believe members of Congress have more information than the rest of us, and if they can trade on that information, we should be able to do the same, and now we can.”

Unusual Whales, which serves at the data provider, is an affordable options and equity data platform that has been at the forefront of the intersection of politics and finance for over three years. Having launched a reinvigorated effort on how lobbying, committee conflicts, and finance changes Congress, it is now bringing new financial products to the market so that retail investors can invest alongside Congress and reduce information asymmetries.

The NANC and KRUZ Funds will invest primarily in equity securities of companies that sitting, registered Democratic and Republican members of United States Congress, respectively, and/or their spouses have reported to have invested as analysed and provided to the fund manager by Unusual Whales. The NANC and KRUZ Funds each have a 0.75% management fee.

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This article does not constitute investment advice. Do your own research or consult a professional advisor.

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