Pass on this ETF: Point Bridge GOP Stock Tracker ETF

Article Excerpt

POINT BRIDGE GOP STOCK TRACKER ETF $28.45 (New York symbol MAGA) has a unique investment niche, which, as its name suggests, may appeal to politically minded investors. Well, at least some of you. The fund invests in companies whose employees and political action committees are highly supportive of the U.S. Republican party, or “GOP.” The ETF’s 150 companies are equally-weighted. Among them are large energy producers and manufacturers like Marathon Petroleum and Deere. Almost all operate in U.S. states with strong Republican support. The fund first opened up to investors in September 2017, although it still has a low $16 million in assets. It also charges you a high 0.72% MER, but has gained just 8.9% this year. That’s much less than the 24.4% gain for the broader S&P 500 index. This ETF provides investors with the opportunity to support companies that share their own political beliefs. Still, we don’t see a lot of unrecognized value in zeroing in on stocks that back one political…