Subversive ETFs Launches XXSP and XXQQ to Own the Market Without Elon Musk
New "Redacted" ETFs offer broad market exposure without companies founded, controlled or led by Elon Musk
NEW YORK, October 09, 2026--Subversive ETFs today launched the Subversive S&P 500 Redacted ETF (CBOE: XXSP) and the Subversive Growth 100 Redacted ETF (CBOE: XXQQ), two actively managed funds that deliver broad exposure to the S&P 500 and Nasdaq 100, respectively, while excluding equity securities of companies founded, controlled or led by Elon Musk.
Musk's companies have grown large enough that most broad market investors already carry meaningful exposure to him personally, whether they intended to or not. Few individuals carry as much weight across major U.S. indices, and his political activity and public volatility introduce a form of founder concentration that portfolios answering to clients, boards or their own convictions may want to weigh. XXSP and XXQQ give investors a straightforward way to opt out while maintaining broad market exposure, including by redirecting future contributions and dividends without selling existing holdings.
Subversive ETFs believes an index fund may be sold as the neutral choice, but a handful of names can ultimately decide how it behaves, with Musk being one of them. The funds were named Redacted to reflect exactly what they do. Everything else stays, while one name gets a black bar across it.
XXSP invests across the S&P 500 while excluding Tesla. XXQQ similarly provides exposure to companies in the Nasdaq-100 while excluding Tesla and Space Exploration Technologies Corp. Both funds will also screen out any other company Musk founds, controls or leads if it becomes eligible for inclusion in their respective investment universes.
XXSP and XXQQ join Subversive's lineup of the NANC and GOP ETFs, which track the reported stock trades of Democratic and Republican members of Congress. Subversive was built on the belief that everyday investors should have greater visibility into the people and forces shaping their portfolios. XXSP and XXQQ extend that approach to founder concentration, giving investors a straightforward way to remove exposure to a single influential founder without stepping away from the broader market.
Learn more at https://redactelon.com/
About Subversive ETFs
Subversive is dedicated to investing in radical ideas that subvert the status quo, defy established norms, and actively disrupt their respective industries. Our commitment spans venture investing, public market investing, whistleblower financing, and ETFs, reflecting our belief in the transformative power of innovation across diverse domains.