woman's face The philosophydriving WOMN's portfolio is a little different from SHE, whichfocuses on women in companies' senior ranks — WOMN looks for genderdiversity. (Photo: Shutterstock)

(Bloomberg) –A new exchange-traded fund is betting on companies that support women at every level.Impact Shares Corp. will donate part of the fees charged for theYWCA Women's Empowerment ETF, which trades under the ticker WOMN,to the YWCA, which also helped set the investment criteria for thenew fund.

The fund tracks the Morningstar Women's Empowerment Index, whichselects companies based on strong gender diversity policies,commitment to equal pay and family-friendly programs likepaid leave and flexible work options, among other criteria. As ofnow, Microsoft Corp. and Amazon.com Inc. are the fund's top-twoholdings.

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