There’s an ETF for That? Tom Lee & Dan Ives

Fundstrat Granny Shots U.S. Large Cap ETF

GRNY

-0.98%

Tom Lee’s flagship ETF is the Fundstrat Granny Shots U.S. Large Cap ETF

, and it’s already proving popular, with nearly $1.2 billion in assets under management since launch. The name “Granny Shots” might sound odd, but it’s rooted in Fundstrat’s unique research process. L

ee has said it references a type of unconventional basketball free throw—an unorthodox technique that, while often dismissed, consistently gets results. That’s the idea here: a repeatable, data-driven approach that may not look traditional but works.

GRNY is an active ETF in every sense—there’s no index here. Instead, the portfolio consists of a concentrated basket of roughly 40 stocks selected based on a blend of short-term (6–12 month) and long-term (3–5 year) macro and thematic views.

According to Fundstrat’s breakdown, current exposures include themes like style tilts, seasonality, PMI recovery, energy/cybersecurity, millennial trends, global labor supply chains, and easing financial conditions. Each theme draws from a larger universe, but only a subset of stocks actually makes it into GRNY, helping to keep the portfolio focused.

There’s not much long-term performance history to judge yet, but as of May 31, it’s outperforming the S&P 500 for 2025 with a year-to-date return of 4.36% versus 1.06%. The ETF struggled early in the year during the “tariff tantrum,” but its tilt toward large-cap growth has helped it recover sharply.

GRNY charges a 0.75% expense ratio, on the higher side for ETFs but not uncommon for high-conviction active strategies.

Dan Ives Wedbush AI Revolution ETF

IVES

-0.95%

Launched in the first week of June, the Dan Ives Wedbush AI Revolution ETF

has already seen enviable inflows, topping $174 million in assets under management by mid-June. Like GRNY, it carries a 0.75% expense ratio, but the similarities end there.

As the name suggests, IVES isn’t a general large-cap growth strategy. It’s a pure-play artificial intelligence thematic ETF, drawing on Dan Ives’ expertise as one of Wall Street’s most vocal tech bulls. Despite Ives' active media presence, the fund itself is not actively managed—it tracks the Solactive Wedbush Artificial Intelligence Index.

The portfolio holds 30 names in total, with an emphasis on companies leading or enabling the AI revolution. Top positions include many of Ives' long-standing favorites like Microsoft, Nvidia, Broadcom, TSMC, Palantir, Meta, Tesla, Amazon, and Alphabet.

Despite being new, the ETF is trading with strong liquidity, already showing a tight 0.08% 30-day median bid-ask spread and strong volume.

Please note that this article reflects the author’s personal views and does not represent the opinions of the publication or its affiliates. It is for informational purposes only and does not constitute investment advice. It is essential to seek guidance from a registered financial professional before making any investment decisions.