GURU has $275.3 million in assets under management, $252.1 million of which have come into the fund this year. Top-10 holdings in that ETF include US Airways (NYSE: LCC), Pandora (NYSE: P) and Yahoo (NasdaqGM: YHOO).

GURU has proven to be successful enough that Global X has filed plans to introduce two new spins on the ETF – the Global X Guru Value ETF and the Global X Guru Activist ETF.

Evidence suggests the basket approach to hedge fund holdings rather than simply buying a manager’s largest holding works.

“Across 20 of my favorite managers since 2000, investing in the top 1 idea underperforms investing in the top 10 ideas by 4% a year.  Massively bad idea. 70% of the funds top holding clone underperforms the top 10,” said Faber.

GURU, ALFA Year-to-Date