FaithShares Launches ETFs Addressing Religious Values
According to a press release, the FaithShares Catholic Values Fund (FCV), FaithShares Methodist Values Fund (FMV), and FaithShares Christian Values Fund (FOC), are tailored to each denomination’s teachings and recommendations for investing. The funds are managed by FaithShares Advisors, LLC.
FaithShares Advisors worked with global index provider FTSE Group and KLD Research & Analytics, a provider of environmental, social, and governance (ESG) research and indexes, to create a series of custom indexes on which the funds are based. The portfolios will be screened to exclude companies that benefit from gambling, alcohol, tobacco, pornography, weaponry, and other activities that are included in each denomination’s published criteria.
“We did a great deal of research on the covenants of the various denominations in designing these funds,” said Garrett Stevens, CEO and portfolio manager. “The Christian Values Fund is the most conservative and we feel it answers the needs of non-denominational church members and other denominations not specifically represented by our other ETFs.”
FaithShares anticipates launching two additional funds specifically aligned with the Baptist (FaithShares Baptist Values Fund—FXB) and Lutheran (FaithShares Lutheran Values Fund—FKL) faiths on December 15.
Annually, FaithShares Advisors will give a minimum of 10% of its net income to a ministry associated with the respective denominations. The funds will be rebalanced annually and offer complete transparency about their holdings.
Investors can purchase the funds through their investment adviser or discount broker.
The funds’ prospectuses may be obtained by calling 1.877.324.8455 or by visiting www.faithshares.com.