Two newly registered ETFs, Nasdaq-100 Ex-Elon Enterprises ETF (QQNE) and S&P 500 Ex-Elon Enterprises ETF (SPNE), have been created by Subversive Capital to exclude companies associated with Elon Musk.These funds aim to provide capital appreciation by investing in large-cap U.S.equities while avoiding entities founded, controlled, or led by Musk, including Tesla (TSLA) and SpaceX (SPCX).

The decision stems from Musk's controversial public persona, including his association with Dogecoin, social media comments, and a disputed gesture at Donald Trump's inauguration.While the ETFs are legally registered and available for investment, their success remains uncertain.

Subversive Capital, known for creating politically themed ETFs, has positioned these funds as a satirical yet strategic way for investors to avoid Musk's influence.

The move reflects growing investor sentiment to distance from Musk amid his polarizing reputation, though experts caution that the funds may not outperform traditional indices.The ETFs highlight the intersection of finance and public perception, offering a unique approach to portfolio diversification.