Ackman, Druckenmiller-Tracking ETFs Are Latest Industry Gambit

In a crowded ETF market obsessed with attention-grabbing pitches, one idea keeps coming back: Track the trades of star investors and sell them to the masses.

The latest entrant comes from VistaShares, which filed this week for a suite of ETFs designed to replicate the holdings of famed money managers like Bill Ackman, Stanley Druckenmiller and Michael Burry. By combing through regulatory disclosures, the firm aims to build funds that echo the moves of these high-profile investors — a fresh spin on the long-running effort to bottle hedge-fund mystique for retail buyers.

VistaShares plans to launch funds tracking ...