Thematic Stadium Naming Rights Inverse Index


Index Performance




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
  • TickerARENA
  • Inception Date07/15/2022
  • WeightingEqual
  • # of holdings29
What's inside?


All holdings as of April 15, 2024
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NRG Energy, Inc. (NRG)3.95%$15.66B-9.60%13.80%0.80
Spotify Technology SA (SPOT)3.94%$56.73B16.20%25.43%2.36
Levi Strauss & Co. (LEVI)3.75%$2.02B-7.59%58.86%1.47
FedEx Corp. (FDX)3.66%$65.64B-1.94%20.88%1.08
Toyota Motor Corp. (7203)3.61%$331.68B23.44%22.30%1.43
Comerica, Inc. (CMA)3.59%$6.74B41.78%N/A3.21
Lincoln National Corp. (LNC)3.56%$4.73B-25.05%N/A0.83
Capital One Financial Corp. (COF)3.55%$53.18B28.58%N/A1.95
Xcel Energy, Inc. (XEL)3.54%$29.53B-7.01%23.07%4.33
Bank of America Corp. (BAC)3.53%$283.02B51.46%N/A5.15
Raymond James Financial, Inc. (RJF)3.52%$25.61B16.26%84.30%1.03
Ford Motor Co. (F)3.51%$47.73B11.47%13.80%0.91
SoFi Technologies, Inc. (SOFI)3.50%$7.52B65.20%62.47%3.75
M&T Bank Corp. (MTB)3.50%$23.48B45.28%N/A3.05
The PNC Financial Services Group, Inc. (PNC)3.48%$59.50B38.58%N/A4.32
Fifth Third Bancorp (FITB)3.43%$23.66B31.84%N/A3.37
Wells Fargo & Co. (WFC)3.43%$201.70B9.19%N/A4.14
Fiserv, Inc. (FI)3.43%$87.49B7.65%59.85%5.52
T-Mobile US, Inc. (TMUS)3.42%$189.69B-1.27%46.07%3.82
Intuit, Inc. (INTU)3.38%$171.38B11.34%71.20%12.21
JPMorgan Chase & Co. (JPM)3.32%$526.79B17.83%N/A5.38
MetLife, Inc. (MET)3.32%$50.21B-4.28%N/A1.05
SAP SE (SAP)3.30%$213.55B1.09%72.43%5.20
Oracle Corp. (ORCL)3.30%$329.49B7.11%65.23%7.49
AT&T, Inc. (T)3.29%$116.16B1.40%43.72%2.36
United Airlines Holdings, Inc. (UAL)3.25%$13.46B19.49%13.29%0.67
American Airlines Group, Inc. (AAL)3.21%$8.47B7.79%22.37%0.80
Lumen Technologies, Inc. (Louisiana) (LUMN)3.02%$1.38B-16.71%30.42%1.43
Petco Health & Wellness Company, Inc. (WOOF)2.70%$382.45M3.63%37.63%0.57
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