UBS Investment Bank has rolled out its first exchange traded fund under its “InsightShares” brand, allowing investors the opportunity to invest in a socially conscious strategy.
The Swiss bank launched the InsightShares LGBT Employment Equality ETF (NYSEArca: PRID), which has a 0.65% expense ratio.
The InsightShares LGBT Employment Equality ETF will try to reflect 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, according to a prospectus sheet.
Component companies included in the index will be rated on how the company’s policies address non-discrimination against employees based on sexual orientation or gender identity; the extent to which the company provides equitable benefits to LGBT workers and their families; the measures the company takes to provide internal education and maintain accountability metrics to promote LGBT inclusion competency; and whether a company has made a public commitment to the LGBT community.