May Day is about empathy.
Thankfully, the financial world has started to pick up on empathy. They have even created socially conscious ETFs so people can put their money behind their beliefs. This helps investors diversify and align their portfolios with personal beliefs.
3 Socially Responsible ETFs for May Day
One of the most successful socially responsible ETFs is the SPDR Gender Diversity Index ETF (NYSEArca: SHE).
“We wanted to make a difference,” Jill Mavro, Senior Managing Director for State Street Global Advisors, said at the Charles Schwab Impact Conference. “We wanted people to stand up and take note that we were wanting to make a change in terms of board equality on the largest companies in the U.S.”
SHE seeks to track the performance of the SSGA Gender Diversity Index, which comprises of U.S. large capitalization companies with the highest levels within their sectors of gender diversity on their boards of directors and in their senior leadership.
Another socially conscious ETF for the work place is the InsightShares LGBT Employment Equality ETF (NYSEArca: PRID). The InsightShares LGBT Employment Equality ETF reflects the performance of the UBS LGBT Employment Equality Index, which 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.
And lastly, UBS has also added another cause-focused product, the InsightShares Patriotic Employers ETF (NYSEArca: HONR), which is comprised of large- and mid-capitalization U.S. stocks of companies with policies and practices determined to be Military Friendly.
“We all agree we want to support our veterans,” Cea said. “The other part is companies are not just doing it because it is the right thing to do. They are doing it because it is the smart thing to do. They are enhancing their talent pool, and thus, we hope, would lead to better economic performance.”
May we continue to fight for worker’s rights, social justice, and most of all – empathy, connection, and a better world for all.