OppenheimerFunds expanded its line of revenue-backed exchange traded fund suite to include two new strategies based on sound environmental, social and governance, or ESG, principles.

On Monday, Oppenheimer launched the Oppenheimer ESG Revenue ETF (NYSEArca: ESGL) and Oppenheimer Global ESG Revenue ETF (NYSEArca: ESGF). ESGL has a 0.40% expense ratio and ESGF has a 0.45% expense ratio.

ESGL will try to reflect the performance of the OFI Revenue Weighted ESG Index, which tries to outperform the S&P 500 by focusing on companies with strong ESG practices and re-weights those based on revenue earned. Sustainalytics utilizes a proprietary scoring system and assigns an overall composite ESG score to each company.

ESGF will try to reflect the performance of the OFI Revenue Weighted Global ESG Index, which tries to outperform the MSCI All Country World Index with strong ESG practices and re-weights companies based on revenue earned. MSCI ESG Research utilizes a proprietary ESG scoring system and screens companies based on Sharpe Ratio, a measure of risk-adjusted performance.

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