A new ethical ETF will soon traverse the road less traveled in the ETF universe.
On Tuesday, ALPS is set to launch the Workplace Equality Fund (EQLT) that will track the Workplace Equality Index, according to a communique from NYSE Arca. The index tracks about 140 stocks of U.S. and foreign companies that support equality for lesbian, gay, bisexual and transgender employees.
The fund sports an expense ratio of 0.75 percent, or $75 for every $10,000 invested, according to paperwork APLS filed with regulators detailing the fund.
The index was created by Denver Investment Advisors in November 2013 to provide a benchmark for the performance of companies that support workplace equality for lesbian, gay, bisexual and transgender (“LGBT”) employees, according to the ALPS prospectus.
The socially responsible investing segment of the ETF universe currently makes up less than 1 percent of its $1.7 trillion. ETFs focused on global renewable energy currently manage $1.17 billion in assets, according to data compiled by ETF.com.
First Trust has updated a regulatory filing for its proposed First Trust RBA Quality Income ETF and RBA American Industrial Renaissance ETF, indicating that the funds are closing in on a launch date.
The ETFs will make dividend and sector bets, targeting a broad range of income-producing companies in the case of the Quality Income ETF, and narrowly focusing in on the industrial and community banking sectors in the case of the Industrial Renaissance ETF.
Associated tickers and fees for the ETFs weren’t available in the updated filing.