The exchange-traded fund known for snapping up Facebook Inc (NASDAQ:FB) shares just days after the company’s initial public offering is now outperforming more popular ETFs—and the S&P 500. As Eric Balchunas of Bloomberg points out, few expected to see this because the ETF was largely seen as a joke because of its quick investment into the disaster that was Facebook’s IPO.

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Facebook ETF by the numbers

The Global X Social Media Exchange-Traded Fund (NASDAQ:SOCL) climbed 16 percent in July and has surged an incredible 37 percent so far this year. And yet, the well-known and far more popular Technology SPDR (ETF) (NYSEARCA:XLK) has only risen 12 percent this year, while the S&P 500 index has increased 20 percent.

The so-called “Facebook ETF” has only $11 million in assets under management, which makes it small fry in comparison with ETFs like the Technology SPDR (ETF) (NYSEARCA:XLK). Currently the Global X Social Media Exchange-Traded Fund (NASDAQ:SOCL) and the Technology SPDR ETF have just a single stock in common—Google Inc (NASDAQ:GOOG). The search giant makes up just 4 percent of the Global X ETF.

Top holdings of the Facebook ETF

Facebook Inc (NASDAQ:FB) continues to be the ETF’s top position and has been the key driver of its climb this year. Shares of the social network have risen 43 percent year to date. Facebook has an 11 percent weighting in the ETF.

In second place is Tencent Holdings Ltd. (HKG:700), which is China’s biggest instant messaging and Internet company. The stock also makes up 11 percent of the ETF’s portfolio. Approximately half of Global X’s portfolio is made up of international stocks like Tencent. SINA Corp (NASDAQ:SINA), another Chinese stock, is also 11 percent of the ETF’s portfolio. SINA shares have risen 50 percent so far this year.

LinkedIn Corp (NYSE:LNKD) has also performed well this year, rising 105 percent year to date and holding a 9 percent weighting in Global X. Russian tech company and search engine operator Yandex NV (NASDAQ:YNDX) has a 6 percent weighting and has risen 57 percent so far. Global X holds a 5 percent stake in Pandora Media Inc (NYSE:P), which has risen 108 percent, and a 5 percent weight in the Japanese company DeNA Co Ltd (TYO:2432)—the ETF’s only losing stock so far this year.

Groupon Inc (NASDAQ:GRPN), another company with big surprises this year, has a 5 percent weighting in the ETF and has risen 79 percent. Nexon Co (TYO:3659) and Google Inc (NASDAQ:GOOG) each have a 4 percent weighting in the ETF.

Of course along with the greater rewards now seen in investing in “the Facebook ETF” comes a lot more risk than exists with many other ETFs. It’s about twice as volatile as Technology SPDR (ETF) (NYSEARCA:XLK), but for those who have taken the risk this year, it has certainly paid off.