UBS Investment Bank added its second socially responsible ETF under its InsightShares line to target companies that support U.S. veterans.

UBS recently launched the InsightShares Patriotic Employers ETF (NYSEArca: HONR), which has a 0.65% expense ratio.

The new Patriotic Employers ETF tries to reflect the performance of the Military Veterans Index, which is comprised of large- and mid-capitalization U.S. stocks of companies with policies and practices determined to be Military Friendly, according to a prospectus sheet.

Military Friendly refers to a standard created by Victory Media to measure a company’s commitment, effort, and success in creating sustainable and meaningful employment opportunities for military vets. The screen is based on the company’s practices with respect to providing career opportunities to military employees; culture and commitment towards military employees; hiring and onboarding military employees; military employee policies and compliance with policies; military employee support and retention; and identifying and recruiting military employees.

A company will need to meet at least three criteria to be included for consideration. Criteria include: New hire retention rate for veterans is greater than 50%; New hire retention for veterans is higher than for non-military employees; New hire retention rate for guard and reserve employees is greater than 50%; Military employee turnover is lower than for non-military employees; Military employee turnover is less than 20%; Promotions and advancements of military employees is higher than for non-military employees; The percentage of military applicants hired is higher than that for non-military applicants; and Compliance with legal protections afforded military veterans meet or exceed those requirements under law applicable to military veterans.

“Veterans have many qualities that make them invaluable contributors to the workforce. InsightShares provides investors with a way to invest in an index-linked ETF comprised of companies that provide employment opportunities for our nation’s veterans,” according to UBS. “Investors may consider this ETF if they are seeking the potential to earn a return on their investment plus a socially conscious overlay.”

Furthermore, UBS promised that a portion of revenues generated from the new ETF will be donated to vet-related charities through the UBS Optimus Foundation.

For more information on new fund products, visit our new ETFs category.