Here is an idea for a new exchange traded fund that could be worth toasting to. ETF Managers Group, which specializes in private label ETF solutions, is considering launching an ETF that tracks the bourbon and whiskey industry.
The new ETF would be known as the Spirited Funds ETFMG Bourbon & Whiskey Economy ETF and track the Spirited Funds ETFMG Bourbon & Whiskey Economy Index.
The initial universe of Bourbon and Whiskey Companies is determined based on proprietary research and analysis conducted by the Research and Advisory Committee of the Adviser and Spirited Funds, LLC (together, the “Index Provider”). The Index Provider uses a variety of independent, third-party resources for such analysis, including industry databases, regulatory agency public records, academic institution reports, and financial services applications and data sets to determine whether a company is a Whiskey Company and to acquire the information used to weight the Index constituents,” according to a filing with the Securities and Exchange Commission.[related_stories]