Here's an ETF to make InternationalWomensDay more than one day a year
On this International Women’s Day, you can vote for the empowerment of women with your savings as well as your ballot.
The ETF, launched last August, invests in companies based on 19 screens designed to measure their commitment to gender equality and fairness. “We’re looking for corporations that want to be a leader in women’s empowerment,” says Ethan Powell, CEO of fund manager Impact Shares. “We launched, operate and distribute the fund on behalf of the YWCA. It provides the YWCA a seat in the corporate boardroom.
The screens “align with the YWCA’s vision of how corporations can advance women’s empowerment and gender equality,” says Impact Shares. “We really view [them] as a road map for the private sector to engage on women’s issues,” says Powell. The fund measures companies on so many screens to avoid rewarding companies for mere tokenism, he says. Otherwise it’s too easy, for example, for companies to put a couple of women on the board and do nothing else to change the culture or processes, he adds.
The companies in which they invest are the best in each sector, says Powell. So oil giant ExxonMobil XOM, -1.48% appears among the top holdings because they decided the oil giant meets the 19 screens better than many others within the energy sector. “It’s better … on a relative basis,” says Powell.
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