The exchange traded fund industry has sliced up the markets, providing investors with a cornucopia of investment strategies, and soon, investors may even be able to invest in companies that support workplace equality for “LGBT” employees.
According to a Securities and Exchange Commission filing in mid-November, ALPS is working on the WorkPlace Equality Fund (EQLT). The fund will come with a 0.75% expense ratio.
The ETF will try to reflect the performance of the WorkPlace Equality Index, which includes companies that support workplace equality for lesbian, gay, bisexual and transgender (LGBT) employees.
The index is comprised of about 140 U.S. and foreign companies that support equality for LGBT employees through non-discrimination policies regarding sexual orientation and gender identity and providing full benefits for same-sex spouses, domestic partners and transgender individuals.
There are a handful of ETFs that directly invest in socially responsible. For instance, the iShares MSCI USA ESG Select ETF (NYSEArca: KLD) and iShares MSCI KLD 400 Social ETF (NYSEArca: DSI) both track stocks screened for positive environmental, social and governance characteristics. The Pax MSCI EAFE ESG Index ETF (NYSEArca: EAPS) tracks international companies with a high environmental, social and government (ESG) rating. The Huntington EcoLogical Strategy ETF (NYSEArca: HECO) is an active ETF that follows ecologically-focused companies.
For more information on new fund products, visit our new ETFs category.