The philosophy driving WOMN's portfolio is a little different from SHE, which focuses on women in companies' senior ranks — WOMN looks for gender diversity. (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 the YWCA Women's Empowerment ETF, which trades under the ticker WOMN, to the YWCA, which also helped set the investment criteria for the new fund.
The fund tracks the Morningstar Women's Empowerment Index, which selects companies based on strong gender diversity policies, commitment to equal pay and family-friendly programs like paid leave and flexible work options, among other criteria. As of now, Microsoft Corp. and Amazon.com Inc. are the fund's top-two holdings.
WOMN is the second in a series of of single-issue funds with a charitable component from Frisco, Texas-based Impact Shares. The first, Impact Shares NAACP Minority Empowerment ETF (ticker NACP), started trading in July. The asset manager is itself a non-profit and received funding from the Rockefeller Foundation as part of its commitment to mission-driven investing.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.