Pax World Rolls Out Socially Responsible ETF

Pax World, the New Hampshire-based ETF and mutual fund issuer focused on sustainable investing, announced the second addition to its ESG Shares group of ETFs with the debut of the Pax MSCI EAFE ESG Index ETF EAPS. EAPS is a socially responsible play on Australian, Asian, European and Far East stocks and is the first ETF of its kind to target the EAFE region, according to ETFdb.com. The level of success EAPS will find obviously remains to be seen as the socially responsible investment theme has had mixed success with investors over the years. FaithShares introduced five faith-based ETFs last year, none of which can be considered a resounding success in terms of volume and assets under management and the same can be said of the Pax MSCI North America ESG Index ETF NASI, which Pax World introduced last year. NASI holds familiar names such as Google GOOG and Procter & Gamble PG among its top holdings. The index EAPS tracks is comprised of stocks MSCI gives an environmental, social and governance rating (ESG) of "B" or higher to.