Core Viewpoint - The Gabelli Sports and Live Entertainment ETF (GOLS) aims to address real-world portfolio challenges by investing in the "Experience Economy," focusing on the sports ecosystem and related sectors [2]. Group 1: Fund Overview - GOLS invests in a wide range of entities within the sports ecosystem, including publicly traded team ownership, global football clubs, entertainment operators, sports media distributors, athletic brands, and technology/data providers that enhance fan engagement [2]. - The fund is guided by Gabelli's Private Market Value with a Catalyst™ investment philosophy, targeting companies with durable assets, resilient revenue streams, and identifiable catalysts for long-term value [2]. Group 2: Financial Aspects - The fund has an expense ratio of 0.9%, equating to $90 on an initial $10,000 investment, but this fee is waived for the first year [4]. - GOLS started trading on January 6, 2026, indicating that its price history is still in the early stages [5]. Group 3: Market Positioning - GOLS offers low correlation with major tech stocks and the S&P 500, providing a diversification benefit [6]. - The fund benefits from strong pricing power, as demand for live events remains robust, exemplified by high ticket sales for popular artists [6]. - GOLS serves as an "Anti-AI" hedge, as live experiences cannot be replicated by algorithms, maintaining their unique value [6].