The American Customer Satisfaction Core Alpha ETF (Cboe:ACSI), which debuted in November 2016, has topped the $50 million in assets under management level.

ACSI follows the American Customer Satisfaction Index (ACSI). That index weights “companies based on their customer satisfaction score, a proven predictor of future changes in public company earnings and performance. This intuitive and relatable investment thesis has resonated with investors and created robust demand for the product,” according to a statement from Michigan-based Exponential ETFs.

ACSI utilizes a proprietary methodology to invest in stocks based on the individual companies’ customer satisfaction scores, incorporates an academically proven leading indicator of stock prices to potentially help investors potentially outperform the broader market.

More About the Customer Satisfaction Milestone

Strong customer satisfaction companies have exhibited a higher frequency of positive revenue and earnings surprises. Additionally, they have consistently outperformed the market cap-weighted S&P 500, notably in down markets, over the past 12 year period.

ACSI currently has 1.65 million shares outstanding, according to issuer data. As of May 16th, ACSI had $51.78 million in assets under management. Top holdings in the ETF include Apple Inc. (NASDAQ: AAPL), Amazon.com Inc. (NASDAQ: AMZN), Southwest Airlines Co. (NYSE: LUV), Humana Inc. (NYSE: HUM) and Hershey Co. (NYSE: HSY).

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