AdvisorShares has partnered with environmental advocate Philippe Cousteau, Jr. to launch an actively managed exchange traded fund that focuses on sustainable investment themes, with a philanthropic objective.

On Thursday, the AdvisorShares Global Echo ETF (NYSEArca: GIVE) began trading, according to a press release. [AdvisorShares to Launch Sustainable ETF]

GIVE has a high expense ratio of 1.7%, of which 0.40% will go directly to Cousteau’s Global Echo Foundation – the foundation provides resources to ameliorate social issues like those that impact women and children, for environmental conservation and to support social entrepreneurship.

The fund will try to generate long-term capital appreciation with an emphasis on absolute positive returns and a low correlation to traditional financial market indices. The ETF will include a focus on U.S. fixed-income, long-only global equity and alternative long/short trend following strategies.

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