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In the lead up to the SpaceX IPO<\/a>, there were dozens of stories about early employees and investors who stood to make millions of dollars for betting on, or working for, Elon Musk. <\/p>\n But thanks to Musk\u2019s work with DOGE, his public comments on X, and the infamous gesture he made at Donald Trump\u2019s\u00a0inauguration\u00a0that looked a lot like a\u00a0Nazi\u00a0salute, someone realized there was money to be made by avoiding him. <\/p>\n An\u00a0exchanged-traded fund creator\u00a0with the\u00a0appropo\u00a0name of\u00a0Subversive Capital\u00a0has found a way to tap into that negative sentiment with two new anti-Elon exchanged-traded funds.<\/p>\n The ETFs, which are\u00a0similar to\u00a0mutual funds, except they are traded like regular stocks, are legally registered by Tidal Trust I and attached to a brand called Subversive Markets Lab LLC. (Bloomberg was the first to spot the filing.) <\/p>\n Avoiding the world\u2019s richest person can be tricky for the average investor, who likely puts their money into mutual funds tied to indices like the S&P 500 and Nasdaq 100. SpaceX, which is in the FTSE Russell and MSCI indexes, was recently added to the Nasdaq 100. That means it\u2019s included in funds that track those indexes. Musk\u2019s other publicly traded company, Tesla, is a longtime favorite of\u00a0mutual funds, especially the large\u00a0cap\u00a0and growth varieties.<\/p>\n The two newly registered ETFs<\/a>, named Nasdaq-100 Ex-Elon Enterprises ETF and S&P 500 Ex-Elon Enterprises ETF, are designed to block these companies. As of the date of the prospectus, the excluded enterprises are Tesla (TSLA) and Space Exploration Technologies Corp. (SPCX), the filing states. Musk\u2019s other companies, including Neuralink<\/a> and The Boring Company are not publicly traded. <\/p>\n It is possible that the Ex-Elon funds may exclude other companies that become\u00a0closely associated\u00a0with the near-trillionaire, too. The\u00a0Ex-Elon\u00a0funds\u00a0seek\u00a0\u201cto provide capital appreciation through exposure to a broad universe of large-capitalization U.S. equity securities, while excluding the equity securities of companies that are founded, controlled, or led by Elon Musk, or with which Mr. Musk is otherwise primarily associated,\u201d so the document filed with the U.S. Securities and Exchange Commission reads.\u00a0<\/p>\n While these are legit\u00a0funds\u00a0that investors will soon be able to\u00a0trade,\u00a0there\u2019s\u00a0also more than a bit of tongue and cheek going on. Prior to the Ex-Elon funds, Subversive earned headlines<\/a> for its other ETFs that promise to let regular folks \u201cinvest like the oligarchy.\u201d\u00a0One of those\u00a0funds\u00a0holds\u00a0stocks\u00a0known to be traded by\u00a0Democratic members of Congress and their spouses, and the other mirrors those held\u00a0by\u00a0the\u00a0Republican side of the aisle.\u00a0\u00a0<\/p>\n It\u2019s too early to say if investors will pile into these Ex-Elon ETFs, which have the tickers QQNE and SPNE, or if they will perform better than funds that include Musk\u2019s companies. But they do reflect a growing appetite for\u00a0ways to\u00a0avoid Musk, and,\u00a0given his famed hostility to traders who shorted Tesla<\/a>,\u00a0perhaps even\u00a0annoy him a little.\u00a0\u00a0<\/p>\n<\/div>\n When you purchase through links in our articles, we may earn a small commission<\/a>. This doesn\u2019t affect our editorial independence.<\/em><\/p>\n