Specifically, BUZ’s underlying index covers over 50 million unique stock-specific data points from social media comments, news articles and blog posts, including media outlets like Twitter, Reddit, CNN Money, Motley Fool, The Wall Street Journal, Yahoo, Google, Bloomberg and Facebook, among others.

The fund’s index then whittles down its pool of potential picks to the top 100 most mentioned stocks with market caps of over $5 billion across social media.

“The more active the conversation, the greater the reliability of the buzz,” Wise said.

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The BUZZ Social Media Insights Index also identifies multi factors to select U.S. stocks that rank highest in terms of positive insight. These positive factors may include bullish investor perception, brand value perceptions and breadth of discussion from mentions on social media and other online media. The index would then end up with 25 stocks that exhibit the most positive insight scores on a monthly basis.

“Stock selection will dynamically shift with the buzz,” Held added. “Sector allocations are a by-product with no constraints.”

Financial advisors who are interested in learning more about the social media strategy can watch the webcast here on demand.

For more information on smart-beta strategies, visit our Smart-Beta category.