A new set of President Donald Trump–related ETFs, called the “America First” ETFs, have been launched by the Truth Social platform’s parent company. These ETFs focus on U.S. publicly listed companies with a “Made in America” theme, covering industries such as energy, utilities, defense, technology, and real estate.

The five Truth Social ETFs are: American Security & Defense ETF, American Next Frontiers ETF, American Icons ETF, American Energy Security ETF, and American Red State REITs ETF. While three of the funds lost ground, two posted narrow gains on their first day of trading.

Thematic ETFs aim to capture emerging trends, but can be problematic if launched late in a market cycle. Despite concerns about their performance, 2025 has seen a resurgence in thematic ETF launches, with asset managers rolling out 82 new U.S.-listed thematic funds in the first three quarters of the year.

Global thematic assets under management reached a three-year high of $779 billion in the third quarter of 2025. However, the odds of selecting a thematic fund that outperforms global equities over longer periods have been slim, according to Morningstar analysts. Thematic ETFs also tend to charge higher fees compared to non-thematic ETFs.

Read more at Yahoo Finance: Trump Media just launched five ‘Made in America’ ETFs, testing whether political power is an investable theme