"The Roundhill Magnificent Seven ETF holds seven names at equal weight: Alphabet, Amazon, Apple, Meta, Microsoft, NVIDIA, and Tesla, each sized at about 14% of net assets."
"MAGS is a way to overweight the cohort that already dominates cap-weighted index funds, but with two changes that matter: it strips out the other 493 names in the S&P 500 entirely and equalizes the weights."
"The strategy has worked. MAGS returned 43% over the past year, ahead of the Invesco QQQ Trust at QQQ's 40% and the SPDR S&P 500 ETF Trust at SPY's 29%."
The Roundhill Magnificent Seven ETF (MAGS) offers equal-weight exposure to seven major tech companies: Alphabet, Amazon, Apple, Meta, Microsoft, NVIDIA, and Tesla. With a 0.29% expense ratio, MAGS simplifies investment in these stocks without the need for individual selection. The fund's strategy focuses on long-only equity exposure, rebalancing quarterly to maintain equal weights. MAGS has outperformed alternatives like QQQ and SPY since its launch, although its performance has varied in the current year compared to these benchmarks.
Read at 24/7 Wall St.
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