In addition, according to Bloomberg, it is clear that these leaders are big believers in themselves and the cultures they have created. It is evident that most of their net worth’s are invested in their own stocks. Again, sometimes it is about the WHO not the WHAT, but this commonality in the TETF.Index is arguably not a coincidence. These executives are outspoken, hard-driving visionaries with a capitalistic mission.
The TETF.Index does not include Fidelity’s Abigail Johnson (Harvard) or Vanguard’s Frederick McNabb (Wharton) because those companies are not public, but it is worth noting that the top 10 holdings represent nearly 60% of the Index. We include these two individuals in our educational count and their importance in the ETF Ecosystem is not unnoticed, but as private companies, their value cannot be a part of the benchmark.
What will be the legacy that these leaders leave? We are big advocates at Toroso for Women of ETFs (WE) and we expect this establishment to play a key role in the diversification of the industry and this means products like SPDR Gender Diversity (SHE), ImpactShares YWCA Women’s (WOMN), and Impact Shares NAACP Minority (NACP) are only a reflection of demand. The future of the financial services industry must be more than just Robo Advisors and Artificial Intelligence.
Our bet, through the creation of the TETF.Index, is that that these leaders, who every day see the value of their ownership go up and down in the elevator, will embrace diversity because financial service stocks follow innovation, profitability and growth. The ETF evolution has always been about a revolution and change. Voting with their own personal ownership these leaders see a call to action that is aligned with investing with success and building shareholder value.
This article was written by the team at Toroso Asset Management, a participant in the ETF Strategist Channel.
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