Rockefeller Foundation Grant Helps Create Racial-Justice ETF Backed by the NAACP
Socially conscious investors can look forward to two new exchange-traded funds that aim to direct capital to companies that do well by minorities and women.
Using the values and mission of the National Association for the Advancement of Colored People, or NAACP, and the YWCA Metropolitan Chicago -- and with a $300,000 grant from the Rockefeller Foundation -- the not-for-profit Impact Shares on Tuesday launched the Minority Empowerment ETF and the Women's Empowerment ETF.
The Impact Shares Minority Empowerment ETF, with the ticker symbol "NACP," will invest in companies that empower minorities through hiring, pay and promotion practices as well as their products and services.
The Impact Shares YWCA Women's Empowerment ETF, whose ticker symbol is to be "WOMN," will hold stocks of companies that empower women, including promoting women's health and women's initiatives.
Impact Shares is a nonprofit ETF issuer and investment manager, which says its mission is to "build a platform to better align capital with meaningful social priorities that have greater impact and at lower prices." …