If you’re an investor who’s always looking for ways to invest in ETFs and other securities that reflect what you believe in, the brand-new FaithShares line of funds may be just what you’ve been wanting.
The premise is to invest in portfolios that exclude companies that profit from “objectionable industries,” such as gambling, alcohol, tobacco, pornography, weapons and other activities that are against their faith, reports Ruthie Akerman for Financial Planning.
Although there have been Christian mutual funds in the past, this is the first Christian ETF. From 2000 to 2006, assets in other faith-based investments grew seven-fold, underscoring the public’s interest in investing according to their beliefs.
The ETFs will include 100 stocks of large, well-known companies but specifically exclude those considered to be “objectionable industries” by a specific denomination.
All funds are custom-made to meet the needs of a specific religion.
The ETFs are:
- FaithShares Catholic Values Fund (NYSEArca: FCV)
- FaithShares Methodist Values Fund (NYSEArca: FMV)
- FaithShares Christian Values Fund (NYSEArca: FOC)
On Dec. 15, FaithShares plans to launch two more funds, the FaithShares Baptist Values Fund and the FaithShares Lutheran Values Fund. Each year, FaithShares Advisors, the company which manages the funds, will give at least 10% of its net income to a ministry.