Core Insights - The US is experiencing significant growth in thematic funds, with assets increasing by 50% over three years, capturing 23% of the $779 billion global market as of Q3 2025 [2] - The rise of active ETFs in the US has contributed to this growth, but concerns about the quality and consistency of these funds have been raised [2][3] Thematic Funds Overview - Thematic funds are appealing to investors due to their engaging narratives, such as space exploration, but often come with higher fees that can negatively impact performance [3] - There is a lack of standardization in what constitutes a thematic fund, leading to varying definitions among asset managers [3] Market Dynamics - As of September 30, 2025, there were 332 US thematic funds, with net inflows of $19 billion in the first three quarters, marking the strongest demand since 2021 [5] - Major issuers of thematic funds in the US include First Trust, Global X, BlackRock, ARK, and Kraneshares [5] Historical Context - The Steadman Oceanographic Fund, which focused on underwater life, struggled for 40 years before becoming nearly worthless, contrasting with the more successful Pictet's Water Fund, which targets global water demand [4]

Core Insights - Fundstrat Capital has filed a preliminary prospectus with the SEC for two new ETFs, indicating strong demand for their investment products [1][2] - The first ETF, Granny Shots Large-cap ETF, has successfully gathered $2.3 billion in assets within just 9 months, showcasing its popularity [1][14] - The new ETFs will include a tax-efficient version of the Fundstrat SMID Granny Shots and an income-oriented product, responding to client requests for more options [1][2] Company Overview - Fundstrat Capital is an investment management firm led by Chief Investment Officer Thomas "Tom" Lee, specializing in thematic, research-driven equity strategies [14] - The firm utilizes evidence-based research and market trend analysis to create actively managed investment solutions for a diverse range of investors [14] ETF Details - The Fundstrat Granny Shots U.S. Small- & Mid-Cap ETF aims for long-term capital appreciation through an actively managed portfolio of U.S. small- and mid-cap equities [8] - The Fundstrat Granny Shots U.S. Large Cap & Income ETF primarily seeks to provide current income, with a secondary goal of long-term capital appreciation, combining large-cap equity exposure with options-based income strategies [8]