In addition to having one of the largest weights to Facebook among ETFs, it is often forgotten that SOCL has one of the largest ETF allocations to LinkedIn (NYSE: LNKD), a stock that has more than doubled this year. Internet search stocks have helped as well. Google (NasdaqGM: GOOG) is up 18.5% this year while Yandex (NasdaqGM: YNDX), the Google of Russia, has surged 44%.
LinkedIn, Yandex and Google combine for nearly 20% of SOCL’s weight, proving the point that this may be “the Facebook ETF,” but Facebook is nowhere close to being the only reason the fund has surged in 2013.
Global X Social Media Index ETF
ETF Trends editorial team contributed to this post. Tom Lydon’s clients own shares of Google and Facebook.