FOTO

$Tuttle Capital Pure Play Photonics ETF(FOTO.US) and $Corgi Lithography & Smcndctr Phtncs ETF(EUV.US) both fell quite a bit today, one down eight percentage points and the other down -11%, following the broader semiconductor and optical communication sectors in a pullback. The nature of these thematic ETFs is to bundle a basket of photonics and lithography-related stocks. When the sector faces valuation compression, they lack the individual stock alpha to hedge against it and can only follow the overall decline. If you want to position for the long-term photonics trend but don't want to bet on a single small-cap stock, it's safer to wait for sector sentiment to stabilize and then invest in batches.