Jul. 15 at 10:48 PM
$GRNY Tom Lee’s Fundstrat Capital rose to prominence with timely macroeconomic calls on the market, and now his new ETF is flexing the firm’s stock picking prowess.
The Fundstrat Granny Shots US Large Cap ETF (GRNY) is quickly emerging as one of the most popular and successful active stock funds of the year. The fund hit
$1.5 billion in assets under management just eight months after its launch last November, rapidly growing in an industry where some funds take years to reach 10% of that level.
Performance has also been excellent so far compared to peers and a benchmark index. The fund has outperformed the MSCI USA Large Cap Index since inception, 13.7% to 7.8%, according to FactSet. Measured by Morningstar, the fund’s return of about 14% this year is in the top three percent in its category, which includes nearly 1,400 other funds.
