I looked at two exchange-traded funds with explicitly political strategies. One uses the stock ticker MAGA. Its full name is the Point Bridge America First ETF, and says it’s meant for people who want “to invest in companies that align with your Republican political beliefs.” The fund tracks 150 S&P 500 companies “whose employees and political action committees are highly supportive of Republican candidates” through campaign donations.

I paired MAGA with a fund that uses DEMZ as its stock ticker and calls itself “the first investment product that strives to replicate the S&P 500, without the G.O.P.‍” The fund contains shares of “companies that have made over 75 percent of their political contributions to Democratic…