DEMZ Gains 13.6% as MAGA Fund Trails at 7.2%

The Democratic Large Cap Core ETF has gained 13.6% this year, ahead of the Truth Social America First ETF’s 7.2%, Reuters reported Sept. 22. The funds offer investors different baskets of large-cap stocks based on companies’ political contributions.

DEMZ tracks companies whose contributions support Democratic candidates and causes, according to the fund’s website. MAGA uses a similar political screen for Republican candidates and causes. The comparison measures investment returns, not the political views of every company or investor.

DEMZ’s reported top holdings include Microsoft, Nvidia and Apple, along with industrial equipment maker Nordson. Those positions give the fund exposure to large technology companies as well as other sectors.

MAGA’s leading holdings include SpaceX, Tesla, Insmed and Robinhood Markets, according to data cited by Reuters. The two funds therefore differ not only in their political filters but also in their company mix.

DEMZ excludes fossil-fuel companies, Reuters reported. That restriction can affect which industries and stocks the fund holds, though it does not by itself explain the return gap.

The performance figures come as investors look toward the Nov. 3 U.S. midterm elections. Reuters also reported that President Donald Trump’s approval rating had fallen to 32% in a Reuters/Ipsos poll, while the Iran conflict kept oil prices and inflation in focus.

The year-to-date lead does not establish that political affiliation drove either fund’s performance. The result also reflects the underlying stocks selected by each strategy, and the gap may change as share prices move before the election.