New ETF Combines Female-Focused Strategy With a Charitable Twist
- Impact Shares will donate part of the management fees to YWCA
- Fund is part of a wave of ETFs that focus on social issues
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A new exchange-traded fund is betting on companies that support women at every level. Impact Shares Corp. will donate part of the fees charged for the YWCA Women’s Empowerment ETF, which trades under the ticker WOMN, to the YWCA, which also helped set the investment criteria for the new fund.
The fund tracks the Morningstar Women’s Empowerment Index, which selects companies based on strong gender diversity policies, commitment to equal pay and family-friendly programs like paid leave and flexible work options, among other criteria. As of now, Microsoft Corp. and Amazon.com Inc. are the fund’s top-two holdings.