FANG stocks--the group of tech powerhouse companies comprised of Facebook, Inc. (FB), Apple, Inc. (AAPL),, Inc. (AMZN), Netflix, Inc. (NFLX), and Alphabet, Inc (GOOGL)--remain some of the hottest and priciest stocks in the country. Now, investors looking to invest in this group of popular technology companies will be able to do so with a dedicated index that will focus on these five stocks plus a select handful of others. Intercontinental Exchange (ICE) announced in a Sep. 26 press release that it plans to launch the index in November. 

Intercontinental Exchange to Launch the New Index

The Index, called NYSE FANG+TM, plans to offer investors exposure to "a select group of highly-traded growth stocks of next generation technology and tech-enabled companies," according to a statement.

Besides the popular FANG stocks listed above, the index will reportedly also include shares of Alibaba Group Holding Ltd. (BABA), Nvidia Corp. (NVDA), Twitter (TWTR), Baidu, Inc. (BIDU), and Tesla (TSLA). Of these other stocks, Alibaba has recently made headlines for its extraordinary and rapid growth, with many of the top investors suggesting that it is an excellent investment. Nvidia also recently announced a large-scale partnership with a number of other companies. Baidu is a company that may be less familiar to U.S. investors; it is a Chinese internet company that stands as one of the largest in the world, as well as a global leader in AI development.

Index Designed as Cost-Effective Means of Access

According to ICE Futures U.S. president Trabue Bland, "given their size, performance and innovation, the FANG stocks are among the most widely traded stocks and we're pleased to offer a capital efficient means of accessing and hedging these growth stocks in a cost-effective way." Across the different stocks which are slated to be represented by the index, the annual return since September of 2014 has been an impressive 28.44%. This far outpaces the gains of both the S&P 500 Index as well as the NASDAQ-100, which sported growth of 16.8% and 14.89%, respectively.

The index plans to sell its first quarterly futures contract on November 8, with contracts available through ICE Futures U.S. The index began to track values of the constituent stocks on Tuesday, September 26, appearing under the NYSE Global Index Feed ticker called NYFANG. The index itself is still subject to regulatory review, with official confirmation of the November 8 start date likely coming soon. FANG stocks remain incredibly popular even as the investment world has largely focused on another side of the technology spectrum, with increased focus on digital currencies and blockchain in recent weeks and months.