FaithShares Religious ETFs
Apparently… this is for real!
Source: IndexUniverse
FaithShares ETFs Will Target Christians
FaithShares Inc., which is advised by FaithShares Advisors, is asking
the Securities and Exchange Commission for approval to offer five new
SRI-themed ETFs that target different branches of Christianity. The
funds include:
- The FaithShares Baptist Values Fund
- The FaithShares Catholic Values Fund
- The FaithShares Christian Values Fund
- The FaithShares Lutheran Values Fund
- The FaithShares Methodist Values Fund
Each will be based on an index methodology of KLD Research & Analytics, a research firm that specializes in socially responsible investing and has developed a number of well-known SRI indexes.
The FaithShares will be based on indexes from KLD that feature components that have been screened according to the social values of their respective religion. FTSE Group, the well-known international index provider, will calculate the indexes. Various broad FTSE indexes will also be used as benchmarks against the KLD indexes.
The FaithShares funds will focus on large-cap U.S. stocks. KLD will rank those companies by various SRI-themed screens and pick the top 100 for each fund. The funds themselves will then be equal-weighted.
This is hilarious.
Lead the flock to slaughter.
If they tank….blame God.
Whoops!
That would be a sin!!!!!
I’m tempted to invest into the Catholic one — you know they say that Catholics are “connected”. You should know?
I’m looking forward to it. There are already a number of other value based funds in existence, but this would be the first ETF. Many of us with moral issues regarding abortion, porn, tobacco, etc. are “buy and hold” conservative types. Something with reduced fees would be perfect. Let’s wait and see if these ETF’s make financial sense too.