ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print
Major exchange-traded funds in the five sectors covered by FAANG 2.0 have outperformed the market by 17 percentage points since the Russian invasion of Ukraine in late February.

Global money ditches Big Tech for a new group of stocks

Fuel, aerospace, agriculture, nuclear and gold make up FAANG 2.0

HIROKO MATSUMOTO, Nikkei staff writer | Japan

TOKYO -- A new trend is emerging in global stock markets as investors began to shift focus from globalization to a "divided world" after the Russian invasion of Ukraine. Shares of once-highflying tech giants have slumped, while those in more mundane sectors like energy and agriculture are performing well.

Just after the war started in late February, Joseph Quinlan and Lauren Sanfilippo, private banking strategists at Bank of America, began touting a new investment grouping as an alternative to the dominance of FAANG -- U.S. tech giants Facebook (now Meta), Apple, Amazon, Netflix and Google.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more