Point Bridge Capital, an investment management and capital advisory firm based in Fort Worth, Texas, is to launch an ETF with the ticker code MAGA, which stands for “make America great again”.

The new ETF will invest in S&P 500 companies that donate the most to the Republican Party.

The Point Bridge GOP Stock Tracker ETF will invest in S&P 500 companies that have employees or activities that support Republican party candidates for election to senior positions through donations. The GOP in the name stands for Grand Old Party, the widely used nickname of the Republican Party.

The new ETF will track the Point Bridge GOP Stock Tracker Index. In a recent filing with the Securities and Exchange Commission (SEC), Point Bridge states that the index will “follow a rules-based methodology to track the performance of companies whose employees and political action committees (PACs) are highly supportive of Republican candidates for election to the US Congress, the Vice Presidency, or the Presidency and related Republican Party committees”.

The index will include the top 150 companies in the S&P 500 when ranked based on the total net dollars and the net percentage of dollars given by a company’s employees households and PACs to Republican Party candidates versus Democratic Party candidates during the two most recent two-year election cycles.

The index is equally weighted and rebalanced semi-annually.