ProcureAM has announced a ticker change for its ETF from FEMA to FIXT, effective February 15, 2023. This change reflects the fund's focus on global companies engaged in natural disaster recovery and risk reduction efforts. The ETF aims to support industries that mitigate damages from climate-related events, with estimates showing annual disaster costs could reach $2 trillion by century's end. The fund tracks the VettaFi Natural Disaster Recovery and Mitigation Index, which includes businesses involved in various recovery sectors. This aligns with the increasing frequency and intensity of natural disasters.
The FEMA ETF, initiated by ProcureAM, focuses on investments in companies that play a vital role in disaster recovery and risk mitigation.
With anticipated costs from natural disasters reaching $2 trillion annually by the century's end, this ETF highlights the importance of multi-hazard early warning systems.
Recent hurricanes exemplify the urgent need for investment in disaster resilience, with major holdings including Jacobs Solutions and Aecom, which aid in enhancing community resilience against climate change.
ProcureAM has launched the Procure Disaster Recovery Strategy ETF (FEMA), marking a significant entry into the $2.2 trillion disaster recovery market. The ETF is designed to invest in companies involved in sustainable recovery efforts from natural disasters, reacting to the projected rise in damages of $2 trillion annually due to climate-related disasters. It tracks the VettaFi Natural Disaster Response and Mitigation Index and features an expense ratio of 0.75%. The launch event included ringing the opening bell at Nasdaq.