Tom Lee’s Granny Shots ETF rakes in $2 billion in AUM just 9 months after inception

An ETF driven by Tom Lee, an unabashed bull on Wall Street with a big online fandom, just hit another milestone.

His first exchange-traded fund Fundstrat Granny Shots US Large Cap ETF (GRNY) has surpassed $2 billion in assets under management in less than nine months since its inception in November.

It marks a rare success story in an industry where raising just 10% of that level can take years.

GRNY, an actively managed ETF, invests in around 35 high-quality stocks in the S&P 500. The fund, with top holdings such as Robinhood and Oracle, is up more than 18% year to date, outperforming the S&P 500 by over 9 percentage points.

The Fundstrat co-founder and former JPMorgan strategist gained a huge online following by making bold calls on the market and communicating with investors frequently and timely.

“We want to make investing in our ETF understandable and transparent,” Lee said in a statement.

“Granny shot” is a reference to shooting a basketball underhand at the free throw line where the player releases the ball from below the waist. For Fundstrat, it means identifying stocks that fall under multiple key investment themes over the next five to 10 years. Those themes include energy and cyber security, an AI-category called global labor suppliers, and the impact of millennials.

The Granny Shots fund has an expense ratio of 0.75%.

Disclosure: Tom Lee is a CNBC contributor.