Impact Shares Bolsters ETF Lineup With New Sustainable ETF
Impact Shares, the upstart, nonprofit exchange-traded funds issuer supported by the Rockefeller Foundation, on Monday launched its third ETF.
The Sustainable Development Goals Global Equity ETF (NYSE:SDGA), launched in collaboration with the United Nations, is the newest ETF from Dallas-based Impact Shares.
Impact Shares' first ETF is the Impact Shares NAACP Minority Empowerment ETF (NYSE:NACP). That fund debuted in July.
Why It's Important
The Sustainable Development Goals Global Equity ETF was launched in collaboration with the UN's United Nations Capital Development Fund (UNCDF), which works with companies and governments to make public and private finance available to people in the world’s 47 Least Developed Countries (LDCs).
“The new ETF allows investors to invest alongside companies that are deploying capital to help achieve the UN Sustainable Development Goals (SDGs), a universal call to action to reduce poverty and support economic development globally,” according to Impact Shares.
The newest Impact Shares ETF holds 34 stocks and follows the Morningstar Societal Development Index. Morningstar's suite of sustainability indexes provide “exposure to companies that exhibit high standards of sustainability while maintaining a risk/return profile similar to that of the overall market,” according to the index provider.
SDGA's net management fee will be donated to UNDCF for the agency's work in the least developed countries.
© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.