FORTUNE — There are a million ways to try to beat the market, and the one iBillionaire has chosen is as good as any, I suppose.
What started as an iOS app (iBillionaire) and website (iBillionaire.me) morphed at the end of October into an exchange-traded fund (ETF) that offers investors a portfolio of 30 stocks selected to mirror the investment strategies of 21 billionaire investors — people like Warren Buffett, George Soros and Carl Icahn.
Here’s the iBillionaire pitch:
“We analyze more than 250 billion dollars in assets held and managed by a pool of over 20 billionaires. Each quarter, we look at roughly 1,500 investments, 93% in equities and 7% belonging to other asset classes. Our software has processed over a decade of SEC filings to ensure that the iBillionaire Index is a diversified portfolio of high-quality companies. “
The goal is simple: Beat the S&P 500.
And how’s that working?
So far so good. Since Oct. 31, the iBillionaire fund is up 7.3% compared with 4.8% for the S&P 500. The catch, I suppose, is that when events unfold quickly iBillionaire will always be a beat behind the real billionaires.
Below: The top 10 stocks in the index and their relative share in the S&P 500.
Note that in both cases, Apple (AAPL) is the No. 1 security, although it is weighted more than three times as heavily in the iBillionaire fund than in the broader index.