Quincy Jones Has 27 Grammies, 4 Platinum Records And An ETF

Because why not?
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By Gorup de Besanez (Own work) [CC BY-SA 3.0], via Wikimedia Commons

By Gorup de Besanez (Own work) [CC BY-SA 3.0], via Wikimedia Commons

How does a legendary record producer top off a career that did more to shape modern music than any other influence in the twentieth century, with credits ranging from Count Basie to Michael Jackson to Frank Sinatra? One option, apparently, is to package a bunch of stocks from a notoriously profit-scarce industry into an ETF and tack his name on it.

This is the story of the Quincy Jones ETF:

The Quincy Jones Streaming Music, Media & Entertainment ETF (the “Fund”) seeks to provide investment results that, before fees and expenses, track the performance of the Quincy Jones Streaming Music, Media & Entertainment Index (the “Index”).

Before you assume it's just going to be a big chunk of Apple with some Pandora and (eventually?) Spotify thrown in for good measure, take note:

In order to provide such exposure, the universe of Index constituents consists of companies engaged in a range of business activities relating to streaming music, media, and entertainment and select supporting sectors, including media and entertainment companies, telecommunications companies, wireless communication service providers, amusement and recreation companies, technology manufacturers, and internet-based companies, among others.

The Quincy Jones ETF (ticker: QJ) won't consist solely of unprofitable startups and companies that run streaming music services as loss-leaders for more lucrative enterprises, but basically anything else their streaming tunes might be pumped through, from Verizon to Sony. In other words, it's not totally guaranteed to lose money.

Much can be said of the continuing explosion of ETFs along increasingly bizarre themes. But the more interesting question is whether the construction of a themed ETF will become another status symbol for ultra-wealthy entertainment luminaries seeking business conquests to match their previous accomplishments. When does Jay-Z launch his ETF? We're probably only a few years from having the pleasure of investing in a Snoop Dogg-branded cannabis ETF.

h/t Bloomberg's Eric Balchunas.

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