ETF Watch: Oppenheimer Files Socially Responsible Funds

Oppenheimer outlines first ETFs planned since purchase of RevenueShares.
Reviewed by: Staff
Edited by: Staff

OppenheimerFunds has filed for two socially responsible ETFs that will be the first ETFs launched by the firm since it purchased the RevenueShares family of ETFs last year. The Oppenheimer ESG Revenue ETF and the Oppenheimer Global ESG Revenue ETF will track indexes that are reweighted versions of well-known benchmarks.

The two funds will seek to outperform the S&P 500 and the MSCI All Country World Index, respectively. The funds’ indexes will select components of the parent benchmarks that exhibit strong scores for environmental, social and governance (ESG) policies and characteristics. The process also takes into account industry biases and risk-adjusted performance. The selected components are weighted according to their revenue earned, rather than market capitalization.

Socially responsible investing has had a resurgence in the ETF space recently, with several firms filing for such funds, and others—like Global X, FlexShares and iShares—bringing ESG products to market. Nearly a dozen socially responsible ETFs have made their debut this year.

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