Socially conscious investors are starting to browse through focused ETF plays as a way to combine their beliefs with an investment objective.
For example, the InsightShares LGBT Employment Equality ETF (NYSEArca: PRID) is among a new breed of socially responsible investments. Specifically, PRID includes large- and mid-capitalization U.S. stocks of companies with workplaces that promote and provide equality for lesbian, gay, bisexual and transgender, or LGBT, employees based on their score in the Human Rights Campaign Foundation’s Corporate Equality Index.
“It’s an investment in companies that are most supportive of workplace equality for the LGBT community,” Richard Cea, Head of InsightShares at UBS, said at the 2018 Morningstar Investment Conference.
However, some are concerned that they may be giving up performance to achieve this sense of social equality.