American Conservative Values ETF (ACVF), a fund steering conservative investors away from companies deliberately funding or supporting liberal political objectives, says that they are celebrating their first successful year of trading. This measure of success is based on AUM and their press release does not go into detail about performance relative to the companies they exclude from their portfolio. They use the term “boycott” for what others might call “divestment.”

ACVF was founded in October 2020 by Tom Carter and Bill Flaig, “to help conservatives avoid companies that are either “openly hostile to their values” or are “aggressively promoting the progressive political agenda at the expense of shareholders.” They do not list their criteria or the names of the 27 companies in the S&P 500 they exclude.

They say the boycotts have addressed concerns within the conservative community – such as suppression of conservative voices by big tech, CEOs engaging in political speech, and companies pushing the woke agenda.” While they refer to “advocacy,” that appears to be limited to excluding certain securities, not to activism.