U.S. Global Investors (NASDAQ:GROW) announced that its Europe-based airlines ETF, the US Global Jets UCITS ETF, has merged into the Travel UCITS ETF (TRIP), effective April 19, 2024.
“We are very excited about this merger, and we believe TRIP will complement our suite of dynamic, smart beta 2.0 ETFs,” CEO and chief investment officer Frank Holmes said.
TRIP, which is also listed at TRYP in certain European markets, was acquired by the company from HANetf.
It tracks the Solactive Travel Index of publicly listed companies in the travel industry, including airlines, hotels, travel agencies, and cruise lines.
Holmes said he believes cruise lines make an “interesting addition” to the travel investment theme, which is why he supported the merger of TRIP with the company's global airlines ETF product.
“Like commercial aviation, the cruise industry was one of the hardest hit during the pandemic, but in the months since, it’s seen a strong resurgence in demand,” Holmes said.
“Cruise passenger volumes increased nearly 7% globally from 2019 to 2023, according to the Cruise Lines International Association, with North America delivering the strongest growth at 17.5%.”