Welcome to the ETF theme park

Investors love a good rollercoaster ride, so it’s no wonder that they’ve been turning to themed ETFs, or exchange-traded funds that target specific investment categories, industries, or trends.

Investors who want to put their money into fast-moving, disruptive companies grabbing headlines, take a chance on extra profits with leveraged funds, or invest in their personal interests can now do just that thanks to themed ETFs.

The exchange-traded explosion

Traditional ETFs have long anchored portfolios, but a new class of themed ETFs are offering more out-there strategies that are often risky, concentrated, or a pure attention play. There were more than 700 ETFs launched in the first half of this year, according to CFRA Research—many focused on the attention economy, and a far cry from the safe bet of the traditional exchange-traded fund.

Consider some of these ETF categories, ordered by increasing zaniness:

🛍️ Some shop your values. ESG ETFs pull from companies meeting certain environmental, social, and governance standards—and allow investors to steer clear of controversial industries like tobacco or weaponry. Others get more granular, letting you grab funds pegged to niches like solar energy or developing nations.

🥭 Some get fruity. For some forward-looking (and risk-ready) investors, attention has shifted from the Magnificent 7 to a group known as MANGOS: Meta, Anthropic, Nvidia, Google, OpenAI, and SpaceX. New ETFs using special purpose vehicles to bundle in private startups allow investors to grab a stake before half the fruit goes public.

💼 Some track big feelings. Executive sentiment ETFs are built to follow the movements of leaders who occupy big business positions. Funds like the Direxion All Cap Insider Sentiment ETF pull stocks where executive officers and directors are actively accumulating serious shares. Others, like the VanEck Social Sentiment ETF BUZZ, track stock mentions on social media to see which companies have retail investors’ attention.

🤑 Some meme out. Funds like Roundhill’s MEME or YEET have names that tell you all you need to know: They track meme stocks for high-risk/high-reward payouts that vary from week to week. But don’t expect Reddit picks like AMC or American Eagle—they favor names linked to markets having sudden surges, like AI infrastructure or covid vaccines.

🪐 Some consult the stars. Banking on the notion that parts of the US government operate decades ahead on intelligence, the Tuttle Capital UFO Disclosure ETF buys stocks that could profit from official confirmation of aliens’ existence.

Young love

So who’s taking a romp around the ETF theme park? Interest in theme ETFs is spread across generations, according to Nasdaq’s 2025 Retail ETF Investor Survey. But there’s a good reason to watch younger investors lining up for the ride.

The report finds that millennials and Gen Z planned to be the most aggressive ETF investors last year, and Gen Z in particular notes that they’re influenced by digital platforms and social media. Those sources often promote high-risk investments—just as the environment turns them from options like mutual funds.

″[Younger investors] are more comfortable with ETFs than older investors, because mutual funds are less prevalent and relevant than they were for their parents’ generation,” Todd Rosenbluth, Head of Research at VettaFi, told CNBC. “The younger generation are more likely to appropriately take on some risk through the equity marketplace and have more time for these strategies to take hold.”—GR