Pacer ETFs has launched the Pacer Military Times Best Employers ETF (VETS) that invests in companies with the best hiring records for veterans .
The VETS ETF also donates 10% of its management fees earned from the ETF to veteran related charities.
According to Investment News, “The Pacer Military Times Best Employers ETF (VETS) selects publicly traded funds from the annual Military Times Best for Vets Employers list. To qualify for the list, companies have to answer a 90-question survey from Military Times detailing their policies and track records on hiring veterans. The survey also asks about policies toward reservists, recruiting military job candidates and policies toward military families.”
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The ETF requires companies to have been on the list for the previous three years. The ETF only buys companies with a market capitalization of at least $200 million, and companies must meet a liquidity threshold as well. The companies that ranked best for vets last year was First Data Corp. (FDC), followed by BAE Systems (BA—London), Booz Allen Hamilton (BAH) and General Motors Corp. (GM).
“Pacer ETFs strongly believes that America’s military and veterans exemplify the best part of our country. Companies that treat veterans well should be recognized for their care and support of our best and brightest. Doing so through our new ETF is a unique and wonderful way to spotlight these companies, while also helping charities that support our nation’s heroes,” says Sean O’Hara, President of Pacer ETFs.
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Joe Thomson, founder and president of Pacer Financial, Inc., served as a 1st Lieutenant in the U.S. Army from July 1966 to June 1969. He also has a nephew currently serving as a Captain in the U.S. Navy.
“The years I served in the military provided me with the discipline and real-world education needed to succeed throughout my career. In creating our new ETF, we are spotlighting companies that do more than just appreciate America’s veterans. They also understand that America’s military develops amazing employees. Companies with a culture that supports veterans have proven themselves to be among the most well-run,” Thomson says.
The ETF’s holdings are equally weighted, rather than ranked according to their vet-friendliness. The current top holding is Amazon.com Inc. (AMZN), followed by United Rentals Inc. (URI) and Progressive Corp. (PGR).
It rebalances annually.
For more information on new fund products, visit our new ETFs category.