Investment firm Azoria Delays Tesla ETF

Reuters

Tesla CEO and X owner Elon Musk.

Investment firm Azoria Partners has announced the postponement of its Azoria Tesla Convexity Exchange Traded Fund (ETF) following Tesla CEO Elon Musk’s declaration that he is establishing a new United States political party.

Musk made the announcement a day after polling his followers on the X social media platform, which he owns, stating, "Today the America Party is formed to give you back your freedom." 

Azoria had planned to launch the Tesla ETF—which would invest in shares and options of the electric vehicle manufacturer—the following week. However, in response to Musk’s announcement, Azoria CEO James Fishback  reiterated his support for U.S. President Donald Trump. 

Fishback subsequently announced the postponement of the ETF, saying, "I encourage the Board to meet immediately and ask Elon to clarify his political ambitions and evaluate whether they are compatible with his full-time obligations to Tesla as CEO."

Fishback noted that the announcement has undermined shareholder confidence in Tesla’s future, particularly after Musk indicated in May that he would be stepping back from his role leading the Department of Government Efficiency . Tesla has not responded to requests for comment.

Musk’s announcement comes shortly after President Trump signed his self-styled "big, beautiful" tax-cut and spending bill into law, a measure Musk strongly opposed.

The Azoria 500 Meritocracy ETF (SPXM) is an actively managed Exchange-Traded Fund that invests in the top 500 US stocks, excluding any company with what Azoria considers a DEI hiring target.

Azoria begins with an initial universe of the 500 largest publicly traded U.S. companies by market capitalization. Azoria then applies a proprietary research methodology to evaluate whether each company has publicly disclosed an explicit quantitative demographic hiring target, goal, quota, or aspiration.

Companies that have disclosed such policies are excluded from the ETF’s portfolio.



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