ICE announces launch of FANG-based tech index

  • Intercontinental Exchange (NYSE:ICE) announces the launch of the NYSE Fang+TM Index (NYFANG) with futures contracts available November 8.
  • The equally weighted index provides exposure to popular tech stocks centered on the FANG stocks: Facebook (FB), Apple (AAPL +1.1%), Netflix (NFLX -0.2%), and Alphabet’s Google (GOOGL +0.5%).
  • Other stocks included in the index launch: Alibaba (BABA -1.5%), Baidu (BIDU +0.8%), Nvidia (NVDA +1.3%), Tesla (TSLA -0.6%), and Twitter (TWTR -1.2%).
  • The combination of stocks in the index had a 28.44% annualized total return between September 19, 2014, and September 15, 2017. The Nasdaq 100 returned 14.89% in the same period and the S&P 500 returned 9.86%.
  • Tech ETFs: XLK, VGT, TECL, FTEC, IYW, ROM, RYT, QTEC, IGM, TECS, FXL, MTK, REW, JHMT, XITK, TECZ, TCHF, FNG
  • Previously: Stocks open higher as techs bounce back (Sept. 26)

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