VanEck Associates Corp. is starting a new exchange traded fund that will track 75 of the most favored companies online, according to a report.
- The VanEck Vectors Social Sentiment ETF will have a ticker BUZZ. It looks at equity-specific messages and posts made on social media, news articles, and blogs.
- The ETF follows the BUZZ NextGen AI US Sentiment Leaders Index which only includes stocks with a market capitalization of at least $5 billion. The breadth and diversity of conversation of a share also screened for over 12 months.
- VanEck head of ETF Ed Lopez cites online communities to discuss stocks to serve as an alternative dataset for investors.
- Similar ETF BUZZ US Sentiment Leaders closed in 2019 with $8.8 million in assets.