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 $2.0 billion. According to the latest Morningstar data on mutual funds and ETFs, 14% of all portfolio managers globally are women and 11% in the U.S., 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 49% female portfolio managers.
| As of June 30, 2021 | |||||
| Expense Ratio/Fees | Style* | # of Holdings | % Female Management | Investment Criteria | |
| Global Funds | |||||
| Pax Ellevate Global Women's Leadership Fund | 0.78% | Global Large-Cap Blend | 417 | 50% | Employs a factor-based approach intended to closely correspond to or exceed performance of the Impax Global Women's Leadership Index, a market cap-weighted index of highest-rated companies for advancing women's leadership, as determined by Impax Gender Analytics. Index universe is the MSCI World Index. |
| UBS ETF Global Gender Equality UCITS ETF | 0.20% | Global All-Cap Blend Value | 100 | unspecified | Seeks to replicate the Solactive Equileap Global Gender Equality 100 Leaders Net Total Return Index, an benchmark of the top 100 scorers on Equileap's 19 gender equality criteria. Developed Markets. Exclusions: weapons, gambling, tobacco, Norweigian Ethics Council list. |
| RobecoSAM Global Gender Equality Impact Equities Fund | 1.61% | Global Large-Cap Blend Growth/ Global All-Cap | 60-70 | 100% | Seeks to invest in gender diversity leaders, utilizing fundamental analysis and internal gender scoring methodology for WIL, pay equity, employee development, and employee benefits. Internal ESG screens. Benchmark is MSCI World TRN Index, indicating developed markets universe. |
| Mirova Women Leaders Equity Fund | 1.80% | Global Large-Cap Growth | 57 | 100% | Seeks to outperform the MSCI World Index EUR Net Total Return over a 5-year period. Invests principally in companies with demonstrated acheivements on SDGs, with a strong focus on SDG 5: gender diversity and women's empowerment. Employs bottom-up stock selection process. Benchmark indicates developed markets universe. |
| Nordea Global Gender Diversity Fund (Nordea SICAV 1) | 0.85% | Global Large-Cap Blend | 96 | 100% | Seeks to invest in companies with superior growth prospects where women represent at least one-third of senior management roles. Proprietary gender diversity scores assigned based on qualitative assessments. Internal ESG criteria employed to exclude companies and sectors. |
| Desjardins SocieTerra Diversity Fund | 2.39% | Global Large-Cap | 42 | 33% | Universe is global public companies, including emerging markets. Seeks to invests in companies with strong WIL: must have higher-than-average female representation on board and in senior management. Internal ESG screens. |
| Lyxor Global Gender Equality (DR) UCITS ETF | 0.20% | Global Large-Cap Value | 149 | 0% | Seeks to track the Solactive Equileap Global Gender Equality Net Total Return Index, an equal-weighted benchmark of approx. 150 global companies that score highly on Equileap's 19 gender equality metrics. Exclusions: weapons, alcohol, gambling, tobacco, Norwegian Ethics Council list. Developed markets. |
| Mackenzie Global Women's Leadership Fund | 2.01% | Global All-Cap | 420 | 75% | Invests in companies meeting one or more WIL criteria: representation of women on the board of directors and in senior management, a female CEO or CFO, signatory to the WEP**. |
| Mackenzie Global Women's Leadership ETF | 0.55% | Global All-Cap | 422 | 67% | |
| Valeurs Feminines Global | 0.80% | Global Large-Cap Blend | 82 | 0% | Aims to outperform the MSCI World Index Net Reinvested Dividends over a 5 year investment period. Seeks investments in medium-sized international companies with female CEOs. Internal ESG screens based on non-binding qualitative criteria. |
| Regional Funds | |||||
| SPDR SSGA Gender Diversity Index ETF | 0.20% | U.S. Large-Cap | 164 | 100% | Tracks the SSGA Gender Diversity Index. Stock selection based on WIL criteria, then sector ranked. |
| Fidelity Women's Leadership Fund | 1.00% | U. S. Large-Cap Blend | 134 | 100% | U.S. core equity strategy benchmarked to MSCI USA Womens Index. 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 screens. |
| Fidelity Women's Leadership ETF | 0.59% | U.S. Large-Cap Blend | 133 | 50% | |
| Fidelity Women's Leadership Fund (Canada) | 2.33% | U.S. Large-Cap Blend | 135 | 100% | |
| Glenmede Women in Leadership | 0.85% | U.S. Large-Cap Value | 73 | 25% | Portfolio constructed to proprietary quant models: WIL metrics within U.S. large-cap companies, including tilt toward companies with stronger gender equality; integrates multi-factor sector models; internal risk screens. Initial equal-weight positions. |
| Impact Shares YWCA Women's Empowerment ETF | 0.75% | U.S. Large Cap | 198 | 0% | Seeks to track Morningstar Equileap Women's Empowerment Index index, a benchmark of U.S. top-scorers on Equileap's 19 gender equality metrics. |
| Barclays Women in Leadership ETN | 0.45% | U.S. Large-Cap Blend | 104 | 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. |
| RBC Vision Women's Leadership MSCI Canada Index ETF | 0.29% | Canada Equity | 129 | unspecified | Seeks to replicate the MSCI Canada IMI Women's Leadership Select Index, which focuses on Canadian companies with demonstrated levels of gender diversity. |
| Ampega Diversity Plus Aktiendfonds | 1.18% | Germany Large-Cap Blend Equity | 73 | 0% | Invests predominantly in European companies that prioritize the widest possible workforce diversity. |
| AVA Gender Equality Tracker | 0.50% | European Equity | 73 | unspecified | Tracks the Solactive Equileap Europe Gender Equality Index, which selects the top 75 European scorers on Equileap's 19 gender equality metrics. ESG screens. |
| NEXT FUNDS MSCI Japan Empowering Women Select Index ETF | unspecified | Japan Large-Cap Blend | 268 | 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 strength. |
| Daiwa ETF MSCI Japan Empowering Women Index | unspecified | Japan Large-Cap Blend | 313 | 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 strength. |
| BNY Mellon Japan Womenomics Fund | 1.00% | Japan Equity (Large-Cap Blend) | 1 | 0% | 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. |
| Smart ESG Empowering Women Net Return ETN | 0.85% | Japan Large-Cap Blend Equity | 30 | unspecified | Invests in constituents of iSTOXX MUTB Japan Empowering Women 30 Net Return JPY Index. Portfolio companies support and encourage women in the workplace. |
| BMO Women in Leadership Fund | 0.40% | N. America Equity (>50% Can.) | 38 | 33% | Invests in North American companies demonstrating gender diverse leadership. Employs proprietary WIL criteria. |
| BMO Women in Leadership Fund ETF | 0.39% | 40 | unspecified | Tracks the BMO Women in Leadership Fund. | |
| Meritz The Woman Securities Investment Company | 1.02% | South Korean Equity | 33 | 0% | 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.