The 'Facebook ETF' Doesn't Look So Gimmicky Anymore

The Global X Social Media Exchange-Traded Fund (SOCL) may need its own social media campaign. Its performance so far this year is tweet-worthy: In July alone, the fund rose 16 percent, and it's up 37 percent for the year. That tops the 12 percent return for the popular Technology Select Sector SPDR ETF (XLK) and the S&P 500's 20 percent rise. Yet the ETF has just $11 million in assets.

The fund, which launched in late 2011, was dubbed the Facebook ETF for adding Facebook to its portfolio five days after the stock's initial public offering -- it was the first ETF to hold the stock. Before adding Facebook, the ETF was branded a “gimmick” in this CNN Money article and as deserving of the “brush-off” in this MarketWatch article. Bloomberg.com also ran a skeptical story about the fund.