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FEMA Fund Debuts as Natural Disasters Grow More Damaging, Costly

June 1, 2022, 1:00 PM

A new fund is betting on companies that help with recovery from natural disasters as climate change raises the risk of hurricanes, wildfires and other catastrophes.

The Procure Disaster Recovery Strategy ETF is debuting Wednesday under the ticker FEMA. Tracking an index, it holds companies involved in risk mitigation and reconstruction, including those that provide power generators, construction services and waste management.

It invests in those that contract with government agencies for recovery efforts, such as Jacobs Engineering Group Inc., and companies that supply individuals with home improvements tools, such as Home Depot Inc. and Lowe’s Companies Inc.

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