Thematic Stadium Naming Rights Inverse Index

Index overview
3 months
  • TickerARENA
  • Inception Date07/15/2022
  • WeightingEqual
  • Number of holdings31

The Thematic Stadium Naming Rights Index is based on years of research showing companies that spend on naming sports stadiums make other poor business decisions. Bad sports stadium naming right deals are an indication of other poorly allocated marketing decisions and wasteful spending. According to research and analysis in 2007 by Michael Leeds, a sports economist at Temple University, and more recently, Nicholas Rossolillo, President and Investment Advisor at Concinnus Financial, in 2016, independently showed support for this investment thesis. These companies tend to underperform their peer group and the broader market. This is an inverse index that goes up when the underlying stocks go down.

Full methodology


Thematic Stadium Naming Rights Inverse Index

Quick stats

What's inside?
Top 10 holdings
Company% of Index
1SoFi Technologies, Inc. (SOFI)4.31%
2Oracle Corp. (ORCL)4.23%
3Spotify Technology SA (SPOT)3.97%
4Capital One Financial Corp. (COF)3.96%
5United Airlines Holdings, Inc. (UAL)3.74%
6SAP SE (SAPGF)3.73%
7JPMorgan Chase & Co. (JPM)3.68%
8NRG Energy, Inc. (NRG)3.68%
9Ford Motor Co. (F)3.60%
10American Airlines Group, Inc. (AAL)3.58%


All holdings as of May 31, 2023
CSV download
SoFi Technologies, Inc. (SOFI)4.31%$6.530B71.76%59.47%4.58x
Oracle Corp. (ORCL)4.23%$286.017B17.93%65.12%6.80x
Spotify Technology SA (SPOT)3.97%$28.375B9.34%24.85%1.90x
Capital One Financial Corp. (COF)3.96%$39.788B36.21%N/A1.98x
United Airlines Holdings, Inc. (UAL)3.74%$15.567B51.06%3.27%0.70x
SAP SE (SAPGF)3.73%$151.561B0.56%71.31%4.79x
JPMorgan Chase & Co. (JPM)3.68%$396.584B68.81%N/A5.43x
NRG Energy, Inc. (NRG)3.68%$7.780B-3.77%8.84%0.67x
Ford Motor Co. (F)3.60%$48.009B20.30%11.24%0.92x
American Airlines Group, Inc. (AAL)3.58%$9.649B36.97%19.27%0.77x
Wells Fargo & Co. (WFC)3.57%$149.376B67.95%N/A2.39x
Lincoln National Corp. (LNC)3.56%$3.547B-29.22%N/A0.65x
Fiserv, Inc. (FISV)3.51%$69.256B9.88%56.01%5.16x
Raymond James Financial, Inc. (RJF)3.49%$19.146B16.59%89.60%5.20x
Toyota Motor Corp. (TOYOF)3.46%$185.029B4.94%16.15%1.32x
Intuit, Inc. (INTU)3.44%$117.379B6.85%81.70%9.14x
Bank of America Corp. (BAC)3.41%$221.463B67.47%N/A6.63x
FedEx Corp. (FDX)3.37%$54.790B-6.23%20.64%0.91x
Fifth Third Bancorp (FITB)3.34%$16.521B35.93%N/A3.74x
Xcel Energy, Inc. (XEL)3.33%$35.933B8.31%19.04%4.03x
M&T Bank Corp. (MTB)3.33%$19.766B95.41%N/A3.44x
T-Mobile US, Inc. (TMUS)3.26%$164.685B-2.43%45.74%3.62x
The PNC Financial Services Group, Inc. (PNC)3.21%$46.229B75.07%N/A4.38x
MetLife, Inc. (MET)3.06%$37.946B-2.34%N/A0.92x
AT&T, Inc. (T)2.99%$112.454B-20.91%43.72%2.55x
Levi Strauss & Co. (LEVI)2.87%$5.234B5.95%55.19%1.43x
Comerica, Inc. (CMA)2.84%$4.753B67.94%N/A5.50x
Lumen Technologies, Inc. (Louisiana) (LUMN)2.71%$1.989B-20.06%30.85%1.31x
Petco Health & Wellness Company, Inc. (WOOF)2.64%$2.038B5.41%38.85%0.91x
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