This table lists funds that are multi-cap or larger-cap, have relatively low investment minimums, and charge average fees. Most have launched since 2015, and they all utilize investment criteria centered on a WIL philosophy, typically combined with ESG screens. Many employ internal WIL tracking indexes. Solactive Equileap is the main provider of external WIL indexes, built from a universe of developed market stocks with market caps of over $2 billion. According to the latest Morningstar data on mutual funds and ETFs, less than 10% of all portfolio managers are women, a figure that has not budged in many years. In the gender lens sector, the available data shows that management teams are well ahead on this front, with over 60% female portfolio managers.
As of June 30, 2020
| Expense Ratio / Fees | Style* | # of Holdings | % Female Management | Investment Criteria | |
| Global Equity Funds | |||||
| Pax Ellevate Global Women's Leadership Fund | 0.80% | Global Large-Cap Equity | 406 | 50% | Employs a factor-based approach intended to closely correspond to or exceed performance of the Impax Global Women's Leadership Index, a a market cap-weighted index of highest-rated companies for advancing women's leadership, as determined by Impax Gender Analytics. |
| UBS ETF Global Gender Equality UCITS ETF | 0.20% | Global All-Cap | 100 | unspecified | Seeks to replicate the Solactive Equileap Global Gender Equality 100 Leaders Net Total Return Index, designed to include the global leaders in gender equality, per Equileap screens. Developed Markets. Exclusions: weapons, gambling, tobacco, Norweigian Ethics Council list. |
| RobecoSAM Global Gender Equality Impact Equities Fund | 1.76% | Global All-Cap | unspecified | 100% | Invests in companies in "recognized countries" that demonstrate high degree of gender diversity, as well as sustainability. Benchmark indicates developed markets only. |
| AXA World Funds Framlington Women Empowerment Fund | 1.82% | Global Large-Cap Growth | 51 | 100% | Universe includes all global equities. At least 2/3 assets invested in companies that demonstrate WIL commitment, adherance to UN WEP, adopt gender diversity policies. ESG screens. Includes emerging markets. |
| Mirova Women Leaders Equity Fund | 1.80% | Global Large-Cap Growth | 53 | 100% | Targets outperformance of the MSCI World Index EUR Net Total Return over a 5 year investment period. Investments are targeted toward companies with a demonstrated focus on gender diversity and women empowerment as is consistent with the attainment of United Nations Sustainable Development Goal #5. |
| Lyxor Global Gender Equality (DR) UCITS ETF | 0.20% | Global Large-Cap Blend | 150 | 0% | Seeks to track the Solactive Equileap Global Gender Equality Net Total Return Index, an equally weighted benchmark of 150 global companies that score highly for gender equality according to the 19 criteria defined by Equileap, an independent gender equality research organization. Exclusions: weapons, gambling and tobacco, Norwegian Ethics Council list. Developed markets. |
| Nordea Global Gender Diversity Fund (Nordea SICAV 1) | 1.86% (plus up to 5.00% front end fee) | Global Large-Cap Blend | 80-100 | 100% | Targets investment in companies where women represent at least one-third of senior management roles and superior growth prospects. Gender Diversity Scores are assigned based on a qualitative assessment of gender diversity and equality. The managers also apply negative screens to exclude companies and sectors based on internal ESG criteria. |
| Mackenzie Global Leadership Impact ETF | 0.55% | Global All-Cap | 411 | 75% | Invests in companies that have representation of women on the board of directors and in senior management, a female CEO or CFO and are a signatory to the United Nations Women’s Empowerment Principles. |
| Valeurs Feminines Global | 1.80% (plus up to 4.00% front-end fee) | Global Large-Cap Blend | 40 | 0% | Aims to outperform the MSCI World Index Net Reinvested Dividends over a 5 year investment period. The managers invest in medium-sized international companies with female CEOs. The portfolio selections are subject to ESG screening based on non-binding qualitative criteria. |
| Regional Equity Funds | |||||
| SPDR SSGA Gender Diversity Index ETF | 0.20% | U.S. Large-Cap | 176 | 100% | Tracks the SSGA Gender Diversity Index. WIL criteria, then sector ranked. |
| Fidelity Women's Leadership Fund | 1.00% | U. S. Large-Cap Blend | 127 | 100% | U.S. core equity strategy. Universe includes companies with women in key roles in the C-suite, at least one-third board seats held by women, or best-in-class gender diversity initiatives. Applies internal ESG insights. |
| Barclays Women in Leadership ETN | 0.45% | U.S. Large-Cap | unspecified | unspecified | The Notes are linked to the performance of the Index, which provides exposure to U.S.-based companies that have a female CEO or at least 25% female members on the board of directors. Also certain market cap, liquidity, and other selection criteria and concentration limits. |
| Glenmede Women in Leadership | 0.85% | U.S. Large-Cap Blend | 74 | 0% | Portfolio constructed to proprietary quant models: WIL metrics within universe of R1000 and SP500, valuation and fundamentals, risk screen, sector/industry outlook, rigorous sell discipline. |
| Impact Shares YWCA Women's Empowerment ETF | 0.76% | U.S. Large Cap | 179 | 0% | Seeks to track Morningstar Equileap Women's Empowerment Index index utilizing Equileap gender equality scores, including leadership, compensation, policies and company commitment. |
| RBC Vision Women's Leadership MSCI Canada Index ETF | 0.30% | Canada Equity | 125 | unspecified | Seeks to replicate the MSCI Canada IMI Women's Leadership Select Index, which focuses on Canadian companies with demonstrated commitment to gender diversity. |
| Ampega Diversity Plus Aktiendfonds | 1.18% | Germany Equity | unspecified | unspecified | Invests in companies with demonstrated diversity of the workforce. |
| AVA Gender Equality Tracker | 0.50% | European Equity | 75 | unspecified | Tracks the Solactive Equileap Europe Gender Equality Index, which selects the top 75 European companies leading in the field of gender equality based on Equileap’s Gender Scoring methodology. The Index tracker is designed to give investors the ability to actively engage in gender equality and invest in companies that comply with specific ESG criteria. |
| Legal & General Future World Gender in Leadership UK Index Fund | 0.50% | U.K. Large-Cap Equity | 312 | n/a*** | Tracks the performance of the Solactive L&G Gender in Leadership UK Index. Exclusions include weapons, per UN Global Compact screen, pure coal mining, climate impact criteria. Index built on gender diversity at management, executive, board, and across workforce. |
| BMO Women in Leadership Fund | 1.47% | N. America Equity (>50% Can.) | 40 | 0% | Invests in North American companies demonstrating gender diverse leadership. Proprietary WIL criteria. |
| BMO Women in Leadership Fund ETF | 0.39% | Tracks the BMO Women in Leadership Fund. | |||
| NEXT FUNDS MSCI Japan Empowering Women Select Index ETF | unspecified | Japan Large-Cap Blend | 219 | unspecified | Tracks performance of MSCI Japan Empowering Women Index, which aims to include Japanese companies across all market caps that lead their sector groups in diversity policies and in promoting women across workforce, while also maintaining financial quality. |
| Daiwa ETF MSCI Japan Empowering Women Index | unspecified | Japan Large-Cap Blend | 302 | unspecified | Tracks performance of MSCI Japan Empowering Women Index, which aims to include Japanese companies across all market caps that lead their sector groups in diversity policies and in promoting women across workforce, while also maintaining financial quality. |
| BNY Mellon Japan Womenomics Fund | 1.00% | Japan Equity (Mid-Cap Blend) | 51 | 33% | At least 80% invested in publicly traded Japanese companies that benefit from the Womenomics initiative in Japan, which seeks to enhance economic growth and employment opportunities for women, gender pay equity, and women in leadership positions. |
| Meritz The Woman Securities Investment Company | 1.24% (plus up to 0.45% sales commission) | South Korean Equity | unspecified | unspecified | Selects companies with stable fundamental and better than average diversity and fairness records. |
| *Lipper or Morningstar | |||||
| **Women's Empowerment Principles: a joint initiative of the UN Global Compact and UN Women. | |||||
| *** The fund is managed by a group of 25 portfolio managers who oversee a suite of sustainable funds. | |||||
The above publicly-available content is for informational purposes only and does not constitute investment advice.