An exchange-traded fund launched by a pair of teenagers linked to American companies involved with Generation Z is set to start trading on Thursday, Bloomberg reported.
The Generation Z ETF — which tracks firms aligned with Generation Z — will be traded under the ticker ZGEN, with a charge fee of 0.6%. It comprises 50 holdings, with the top holdings of Snap Inc., Roblox Corp., and Coursera Inc.
The portfolio is contained to American equities, which started public trading on January 1, 1997, which marks the start of Generation Z. They will be assigned a ‘Gen Z score’ which considers their core values of the generation.
The firm is sub-advised by Alkali Fintech LLC, founded by teenagers Julian Feder and Eitan Prins-Trachtenberg. It also looks into the firm’s stance on environmental consciousness, diversity, and the promotion of human welfare.
ZGEN will compete with similar exchange-traded funds, The Global X Millennial Consumer ETF, and the Principal Millennials ETF. SNAP is down 2.52%, RBLX down 3.26%, COUR down 1.30%, MILN down 0.82%, and GENY up 0.46%.