Another new “anti-ESG fund” is starting up. We look forward to comparing its performance to the competition.
A new fund is in the works to play against the growing ESG trend. The exchange traded fund is set to be called the God Bless America ETF (YALL), which will act as an anti-ESG exchange traded fund that screens out stocks that are listed as “activists.”
YALL will be advised by the Toroso Investments and sub-advised by Curran Financial Partners, and it plans to eliminate companies that have emphasized political activism and social agendas at the expense of maximizing shareholder returns.
According to the U.S. Securities Exchange Commission filing, the ETF will aim to “exclude companies that make public statements about a then-current political hot button item unrelated to their business.”
The prospectus also stated that the new ETF would be constructed of approximately 30-40 companies that can fall within all eleven sectors of the marketplace.
Moreover, the ETF intends to be created through large-, mid-, and small-cap stocks that have market capitalizations of at least $1B. According to the filing there also has not been an expense ratio attached to the fund.
While the filing did not list any specific holdings, investors can look to a previous example to see an existing funds that have similar political stance. The Point Bridge America First ETF (BATS:MAGA) which is a Republican political beliefs fund for a degree of insight. Some of MAGA’s key holdings include names like FedEx, AutoZone, Molson Coors Beverage, and Eli Lilly and Company.‘God Bless America’… A new anti-ESG ETF plans to come to market | Seeking Alpha