When it moved into the world of ETFs, Guggenheim Funds was looking for a way to make its products stand out. Focus-driven tickers were the answer. "People refer to funds by their symbols, not their names," a company spokesman explained. "So if it discusses the strategy, it'll then connect to the strategy much more quickly."
By that logic, a Guggenheim ETF for solar energy shows up as TAN on the NYSE, while an ETF in air travel lists as FAA. The company said that cleverly named ETFs will come quicker to traders' and institutional investors' minds as they sift through lists of funds. But note this: Symbols such as FBI have been rejected in the past, so using a government agency's acronym doesn't always fly.
They may not be the hottest stocks, but they are the most reliable.
