Companies selected for the ETF are filtered according to polling data extrapolated from issues that matter to people, such as environmental responsibility. The ETF also includes top performers from the Russell 1000.

Jones, the same man who accurately predicted the market crash in 1987, was much more optimistic with regard to the ETF launch. According to Just Capital, the companies in the proposed fund already outperformed companies in the Russell 1000 in a number of socially-conscious ways.

“I think it’s going to be a really big ETF down the road. I think it’s going to rival the S&P and the Nasdaq because I think it has both potentially, possibly, performance characteristics and you get to feel good when you own it,” Jones told CNBC on Tuesday morning. “”If you’re going to have true social change, if you’re going to have real societal betterment, it has to start with the private sector. It has to start with business.”

Click here to watch the full interview.