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A New ETF With A Focus On Veteran-Friendly Employers

by
April 11, 2018 9:58 am
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A new exchange traded fund focusing on companies that are deemed to be good places to work for military veterans is here. The Pacer Military Times Best Employers ETF (NASDAQ:VETS) debuted Tuesday.

VETS tracks an index based on a Military Times Best for Vets survey, which examines companies' recruitment and treatment of military veterans. VETS' index was home to 37 companies in January. Quality screens are employed to ensure investment quality and the index is equally weighted. The new ETF has 36 holdings.

The quality screens includes the following factors: being named a “best for vets” company for three consecutive years, a market value of at least $200 million and certain liquidity requirements.

Inside The VETS Lineup

The top 10 holdings in VETS combine for nearly one-third of the new ETF's weight. That group includes well-known companies, such as Amazon.com Inc. (NASDAQ:AMZN), Charles Schwab Corp. (NYSE:SCHW), JPMorgan Chase & Co. (NYSE:JPM) and Home Depot, Inc. (NYSE:HD).

The Military Times Best For Vets Index has a weighted average market capitalization of $109.66 billion, a dividend yield of 2 percent and a price-to-earnings ratio of 16.1, according to Pacer data.

Financial services and industrials are the new ETF's largest sector allocations, combining for nearly 46 percent of the fund's weight. Technology and consumer discretionary names combine for over 26 percent. VETS does not hold any energy, materials or real estate stocks.

VETS has an annual fee of 0.60 percent, or $60 on a $10,000 investment. The issuer plans to donate 10 percent of the management fee to military-related charities.

Pacer had $2.01 billion in ETF assets under management as of April 6.

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