After years of "Magnificent Seven" or “Mag -7” – including Apple, Microsoft, Alphabet, Amazon, Meta, NVIDIA and Tesla – dominance, Wall Street has now found the next set of high-potential market winners in the tech space. And Wall Street analysts and traders have nicknamed the cohort smartly.
Per a Yahoo Finance article, traders, strategists and ETF issuers are rolling out new names such as MANGOS, FAB 10 and BofA's AI Big 10 to capture the evolving leaders of the AI-driven bull market.
Among the new lots, MANGOS look juicy for the ETF sponsors. MANGOS — Meta, Anthropic, NVIDIA, Google, OpenAI and SpaceX — is yet to be accessible through ETFs as a group, as Anthropic and OpenAI are not listed yet. However, once they hit the market, ETFs with heavy exposure to the duo are most likely to be launched (read: Don't Fear Higher Rates: Play AI ETFs as IPO Race Heats Up).
Inside Recently Filed ETFs
Corgi filed for the Corgi MANGOS ETF, which is an actively managed ETF providing concentrated exposure to six core companies. The four publicly traded companies will be held through a combination of investment in common stock and derivatives.
Meanwhile, special purpose vehicles will be used to gain exposure to privately held companies, including Anthropic and OpenAI. Additionally, Corgi has filed for a Corgi MANGOS 2X Daily ETF, which seeks investment results that equal 2X the underlying Corgi MANGOS ETF performance on a daily reset.
Yorkville America filed for 2 ETFs, the Yorkville American MANGO Plus ETF and the Yorkville American MANGO Plus Premium Equity Income ETF, designed to generate current income through options writing.
Rex Shares filed for T-REX 2X Long MANGOS Daily Target ETF. Its objective is to amplify (200%) the daily performance of the MANGOS Index. It looks to charge 150 bps in fees.
ProShares has filed for four different MANGOS funds. Filings include the ProShares MANGOS ETF, the ProShares Short MANGOS ETF, the ProShares Ultra MANGOS ETF and the ProShares UltraShort MANGOS ETF, per an article from ETFDB issued in late June.
Inside MNGU
Investors can also play the space with MicroSectors 3× Long MANGOS+ ex Private Companies ETN (MNGU). The product provides 3X long exposure to the daily performance of the NYSE MaNGoS+ Index, which is a rules-based, equal-weighted benchmark of 10 U.S. listed companies at the center of the AI economy. The single daily-resetting product hit the market on Aug. 27, 2026.
The six named anchors are Meta, Anthropic PBC, NVIDIA, Alphabet Class A, OpenAI Group PBC and SpaceX. Anthropic and OpenAI are private and ineligible at launch but may qualify after listing. The lowercase letters in MaNGoS denote these two private anchors.
Why MANGOS?
Several new groupings have emerged to reflect the expanding AI ecosystem. We all know that the last few years were under the control of the Magnificent Seven. But SpaceX's massive IPO, along with the potential blockbuster market debuts of AI juggernauts Anthropic and OpenAI, could reshape AI investing.
Why the Magnificent Seven Is No Longer Enough
The Magnificent Seven has perfectly captured the AI-powered rally so far. However, the leadership has broadened over time.
Performance within the group has also diverged significantly. While Alphabet has tumbled about 10.9% over the past month, Amazon has slumped 10.3%, and Meta (down 2%) has slipped a bit, Microsoft (up 2.7%), Tesla (up 10.6%), Apple (up 7.2%) and NVIDIA (up 5.2%) have posted gains. No wonder, Roundhill Magnificent Seven ETF MAGS is flat over the same time frame.
Hence, broadening tech exposure beyond the Magnificent Seven has become the need of the hour. SpaceX SPCX has surged 24.2% over the past month. And investors are waiting with bated breath for the market debut of Anthropic and OpenAI, as the duo is expected to witness a huge IPO in the near term.
Bottom Line
MANGOS matters because it brings together some of the most promising AI leaders, offering investors a way to tap the next phase of AI-driven growth beyond the Magnificent Seven.
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This article originally published on Zacks Investment Research (zacks.com).
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