LOPP Gabelli Love Our Planet & People ETF
As February was just getting started, traditional active manager Gabelli Funds rolled out its first ETF. The actively managed Gabelli Love Our Planet & People ETF (LOPP) combines a value approach with social screens and what Gabelli describes as “holistic ESG analysis.”
LOPP comes with an expense ratio of 0.90%, but that’s been waived for the first year of operation, unless the fund accumulates more than $100 million in assets. Even then, the 0.90% in fees will only be charged on the assets above $100 million.
The fund uses the Active Shares model offered by Precidian and generally discloses its holdings monthly or quarterly, with a lag of up to 60 days.
LOPP focuses mainly on social issues, looking to companies that have implemented programs and policies to address those problems. It also excludes fossil fuel companies; the largest aerospace and defense contractors; and companies generating significant revenues from tobacco, alcohol, gaming and defense/weapons production.
It relies on in-house research and third-party data from providers like MSCI. After narrowing its investment universe of acceptable companies, the fund’s managers select securities based on whether or not they seem to be undervalued by the market, according to the prospectus.
Source: ETF.com. Data and information as of 2/28/2021.
The above sidebar covers launches and closures for the month of February 2021.