Index Performance
+3.19%
ARENA
+5.31%
SPY
Overview
Description
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.
- TickerARENA
- Inception Date07/15/2022
- WeightingEqual
- # of holdings28
What's inside?
Holdings
All holdings as of September 25, 2026
CSV download
| American Airlines Group, Inc. (AAL) | 3.91% | $9.18B | 16.28% | 17.87% | 0.67 |
| United Airlines Holdings, Inc. (UAL) | 3.83% | $37.00B | 15.99% | 24.32% | 0.98 |
| MetLife, Inc. (MET) | 3.68% | $62.09B | 11.37% | N/A | 0.97 |
| SAP SE (SAP) | 3.67% | $247.23B | 9.42% | 73.39% | 4.06 |
| Spotify Technology SA (SPOT) | 3.65% | $105.00B | 16.87% | 33.33% | 4.06 |
| AT&T, Inc. (T) | 3.65% | $173.91B | 2.30% | 46.09% | 2.41 |
| Levi Strauss & Co. (LEVI) | 3.63% | $7.59B | 7.88% | 63.39% | 1.57 |
| Capital One Financial Corp. (COF) | 3.61% | $122.82B | 21.90% | N/A | 2.09 |
| Lincoln National Corp. (LNC) | 3.61% | $7.98B | 19.40% | N/A | 0.72 |
| Bank of America Corp. (BAC) | 3.61% | $396.49B | 0.28% | N/A | 5.93 |
| Toyota Motor Corp. (7203) | 3.60% | $223.91B | 10.38% | 18.03% | 1.31 |
| Fiserv, Inc. (FI) | 3.60% | $24.72B | -4.06% | 55.22% | 2.57 |
| Fifth Third Bancorp (FITB) | 3.59% | $47.25B | 35.16% | N/A | 4.71 |
| T-Mobile US, Inc. (TMUS) | 3.59% | $177.45B | 7.85% | 49.69% | 3.23 |
| JPMorgan Chase & Co. (JPM) | 3.58% | $911.92B | 18.21% | N/A | 7.17 |
| SoFi Technologies, Inc. (SOFI) | 3.57% | $21.41B | 39.09% | 62.21% | 4.31 |
| M&T Bank Corp. (MTB) | 3.55% | $31.94B | 1.03% | N/A | 4.05 |
| Raymond James Financial, Inc. (RJF) | 3.54% | $30.75B | 11.82% | 88.47% | 1.29 |
| NRG Energy, Inc. (NRG) | 3.53% | $21.10B | 11.07% | 23.84% | 1.66 |
| The PNC Financial Services Group, Inc. (PNC) | 3.53% | $90.02B | 13.81% | N/A | 5.21 |
| Xcel Energy, Inc. (XEL) | 3.52% | $43.60B | -4.94% | 28.73% | 6.15 |
| Wells Fargo & Co. (WFC) | 3.52% | $250.90B | 8.15% | N/A | 5.39 |
| Ford Motor Co. (F) | 3.51% | $50.68B | -3.76% | 7.15% | 1.00 |
| Petco Health & Wellness Company, Inc. (WOOF) | 3.51% | $650.17M | 0.05% | 39.10% | 0.56 |
| FedEx Corp. (FDX) | 3.44% | $67.65B | 7.73% | 21.77% | 1.35 |
| Oracle Corp. (ORCL) | 3.39% | $414.55B | 29.61% | 58.98% | 8.15 |
| Intuit, Inc. (INTU) | 3.32% | $73.70B | 13.90% | 77.91% | 4.14 |
| Lumen Technologies, Inc. (Louisiana) (LUMN) | 3.26% | $5.89B | -9.28% | 25.74% | 1.63 |
Market data by FactSet
