Jewish Advocacy ETF Aims to Combat Rising Antisemitism
Jewish Advocacy ETF TOV launched by Anti-Defamation League affiliate with $100 million; lists AAPL, NVDA, MSFT as top holdings.
An ETF aimed at fighting rising antisemitism and promoting Jewish values through shareholder advocacy was launched by an affiliate of the Anti-Defamation League, the latest exchange-traded fund to be guided by religious, political or social leanings.
The JLens 500 Jewish Advocacy U.S. ETF (TOV), launched with $100 million in seed capital from a range of Jewish organizations, dipped less than 1% in the early afternoon of its first day of trading. The fund’s top holdings are Apple Corp. (AAPL), Nvidia Inc. (NVDA) and Microsoft Corp. (MSFT), currently the world’s biggest companies by market capitalization.
TOV seeks to support Israel and promote Tikkun Olam, or repairing the world, and follows in the footsteps of ideological-themed funds offered over the past few years. Funds supporting Democratic and Republican ideologies, such as the Point Bridge America First ETF (MAGA), began appearing shortly after Donald Trump was first elected, and Inspire ETFs has launched a handful of Christian-themed funds since 2017 including the Inspire International ETF (WWJD).
“The launch of TOV reflects the need for a strong, deliberate and innovative response to the unprecedented spike in antisemitism following the Hamas attack on Israel on October 7, 2023,” Jonathan A. Greenblatt, CEO and National Director of ADL, said in a press statement.
TOV—meaning “good” in Hebrew—was created by JLens, a registered investment advisor and affiliate of the ADL. The fund tracks the JLens 500 Jewish Advocacy U.S. Index, which tracks the 500 largest U.S. public companies, screening out companies that don’t align with Jewish values, the statement said.
JLens says it will advocate for Jewish interests “through engagement with management and boards of directors, proxy voting, and other forms of shareholder advocacy.”
Etf.com’s screener tool lists 4 funds with $570 million in assets that focus on Israel: the iShares MSCI Israel ETF (EIS), VanEck Israel ETF (ISRA), the BlueStar Israel Technology ETF (ITEQ), and the ARK Israel Innovative Technology ETF (IZRL).
