IndexIQ has expanded its Dual Impact family of strategies, launching three new ETFs today. Similar to the IQ Healthy Hearts ETF (HART), these funds are launched in alignment with the mission of a nonprofit. New York Life has committed to contributing 10% of each fund’s management fee to the designated nonprofit organizations.
Yie-Hsin Hung, CEO of New York Life Investment Management, stated in a press release that “investors are demanding more when it comes to ESG investment approaches, and they’re demanding more from the companies in which they’re investing.”
All three ETFs have an expense ratio of 0.45% and trade on NYSE ARCA.
The IQ Engender Equality ETF (EQUL) aligns with the mission of Girls Who Code, a nonprofit that is dedicated to closing the gender gap in technology. The ETF has been developed using analysis from Equileap, a provider of gender equality data, and focuses on providing exposure to companies that have demonstrated a commitment to gender equality.
The IQ Cleaner Transport ETF (CLNR) aligns with the mission of the largest conservation organization in the U.S., the National Wildlife Federation. The ETF provides exposure to global companies that are supporting the transition to environmentally friendly transportation technologies.
The IQ Clean Oceans ETF (OCEN) aligns with the mission of Oceana, an international advocacy organization focused on ocean conservation. The ETF offers exposure to global companies that either help to protect or achieve a cleaner ocean.
IndexIQ offers 21 other ETFs and has nearly $4.6 billion in assets under management.