These introductory stats provide a short summary of investment criteria, fee info, investment style, number of holdings, and the percent of women’s representation on the portfolio management team. All gender lens equity funds (GLEFs) in our coverage universe employ investment criteria centered on women-in-leadership thresholds, and many have additional stated criteria on broad-based corporate gender metrics. Most of these funds utilize ESG screens. These are generally multi- and large-cap funds. According to Morningstar data on mutual funds and ETFs, 14% of all portfolio managers globally are women (11% in the U.S.), a figure which has not changed in the last decade. Among GLEFs, the available data shows that management teams are well ahead on this front with an average of over 50% female portfolio managers.
| As of March 31, 2025 | ||||||
| Fund Name | Asset Manager | Expense Ratio/Fees | Style* | # of Holdings | % Female Management | Investment Criteria |
| Global Funds by AUM | ||||||
| Nordea 1 Global Diversity Engagement Fund | Nordea Asset Management | 1.16% | Global Large-Cap Blend | Around 90 | 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. |
| Impax Ellevate Global Women's Leadership Fund | Impax Asset Management LLC | 0.77% | Global Large-Cap Blend | 100-125 | 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 | UBS Asset Management | 0.20% | Global Large-Cap Blend | About 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. |
| Mirova Women Leaders and Diversity Equity Fund | Natixis Investment Managers International | 1.80% | Global Large-Cap Blend | About 50 | 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. |
| Anima Investimento Gender Equality 2026 | ANIMA Sgr SpA | 1.00% | Global Large-Cap Blend/Mid Credit, LT Bond | N/A | 0% | Invests primarily in fixed income instruments, followed by equity derivatives. The fund seeks to offer at the maturity date the return of an equity index of companies that display strength in gender diversity. |
| Desjardins SocieTerra Diversity Fund | Desjardins Global Asset Management | 2.24% | Global Large-Cap Growth | About 40 | 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. |
| Belfius Equities Wo=Men | Belfius Investment Partners S.A. | 1.88% | Global Large-Cap | Around 60 | unspecified | Targets companies well rated for their gender equality and/or those promoting women's empowerment with the goal of outperforming the benchmark index. |
| SEB Global Equal Opportunity Fund | SEB Investment Management AB | 1.62% | Global Large-Cap | About 200 | 50% | Focuses on companies with a relative strength in gender diversity and equality in the workplace and in the delivery of products and services that support gender equal opportunities. |
| RobecoSAM Global Gender Equality Impact Equities Fund | Robeco | 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. |
| Nia Impact Solutions Fund | Nia Impact Capital | 1.00% | Global Large-Cap Blend | Around 50 | 100% | Employs investment criteria driven by six “solutions themes” around social and environmental issues. The investment process includes a screen for companies meeting gender and broad-based diversity thresholds at the board and executive levels. |
| RockCreek Global Equality ETF | RockCreek Group | 0.95% | Global Large-Cap Value | 200+ | 50% | Invests in companies with a demonstrated commitment to gender diversity. Equileap data is used in the investment decision making process. |
| BNP Paribas Apollo Gender Equality & Inclusion Fund | BNP Asset Management | N/A | Global Large-Cap | Around 15 | unspecified | Aims to offer investors the return of the S&P Developed 100 Gender Index at maturity. |
| Diversity and Inclusion FAM Fund | Fineco Asset Management DAC | 1.90% | Global Large-Cap Blend | N/A | unspecified | Criteria include a 30% threshold for female or minority board representation and a focus on companies delivering equality solutions. |
| Amundi Global Gender Equality UCITS ETF | Amundi Asset Management S.A.S. | 0.20% | Global Large-Cap Value | About 150 | 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. |
| DWS Invest ESG Women for Women | DWS Management GmbH | 1.75% | Global Large-Cap | 100+ | 100% | Focuses on diversity, equity and sustainable business practices to achieve long-term capital growth and positive social impact. |
| Mackenzie Global Women's Leadership Fund | Mackenzie Investments | 0.78% | Global Large-Cap Blend | Around 160 | 50% | 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 | Mackenzie Investments | 0.62% | Global Large-Cap Blend | Around 160 | 11% | |
| M&G (Lux) Diversity & Inclusion Fund | M&G Investments | 1.97% | Global Large-Cap Blend | Around 30 | 50% | Invests in companies with proven gender and/or ethnic diversity with a goal of delivering long-term returns above the global equity market benchmark. |
| Domini Sustainable Solutions Fund | Domini Impact Investments LLC | 1.40% | Global Mid-Cap Growth | 40-50 | 75% | Invests in companies with a demonstrated commitment to sustainability solutions. Fund. Investee companies must have at least one woman on the board of directors. |
| Calvert Sustainable Developed Markets Equity Select Fund | Morgan Stanley Investment Management | 1.24% | Global Large-Cap | About 250 | 33% | Seek to maintain higher weighted-average women on boards than the MSCI World Index. Also, seeks to maintain a carbon profile in with the appropriate Paris-aligned benchmark or a substantially lower carbon footprint than the market benchmark. |
| Calvert Sustainable Diversity, Equity and Inclusion Fund | Morgan Stanley Investment Management | 1.49% | Global Large-Cap | About 175 | 33% | Seeks to maintain higher levels of workforce diversity in the portfolio than in the MSCI World Index, as measured by average percentage of women at the board level and average percentage of board seats held by underrepresented ethnicities. |
| Calvert Sustainable Emerging Markets Equity Select Fund | Morgan Stanley Investment Management | 1.49% | Global Emerging Markets Equity | Around 100 | 33% | Seek to maintain higher weighted-average women on boards than the MSCI Emerging Markets Net Index. Also, seeks to maintain a carbon profile in with the appropriate Paris-aligned benchmark or a substantially lower carbon footprint than the market benchmark. |
| Future Generation Women | Future Generation | 0% | Global Large-Cap Value | N/A | 0% | An all-female managed fund that invests in a diversified portfolio of Australian and global equities. |
| Regional Funds by Region and AUM | ||||||
| SPDR MSCI USA Gender Diversity ETF | State Street Global Advisors | 0.20% | U.S. Large-Cap Blend | Around 250 | 100% | Tracks the MSCI USA Gender Diversity Select Index. Stock selection based on leadership and workforce levels, as well as equality policies. |
| Fidelity Women's Leadership Fund | Fidelity Investments | 0.69% | U. S. Large-Cap Blend | About 100 | 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 | Fidelity Investments | 0.59% | U.S. Large-Cap Blend | About 90 | 50% | |
| Fidelity Women's Leadership Fund (Canada) | Fidelity Investments | 2.23% | U.S. Large-Cap Blend | About 100 | 100% | |
| Impact Shares YWCA Women's Empowerment ETF | Impact Shares | 0.75% | U.S. Large Cap Blend | Around 200 | 33% | Seeks to track Morningstar Equileap Women's Empowerment Index index, a benchmark of U.S. top-scorers on Equileap's 19 gender equality metrics. |
| Calvert US Large-Cap Diversity, Equity and Inclusion Index ETF | Morgan Stanley Investment Management | 0.14% | U.S. Large-Cap Blend | About 250 | 33% | Tracks the performance of the Calvert US Large-Cap Diversity Research Index. |
| Calvert US Select Equity ETF | Morgan Stanley Investment Management | 0.29% | U.S. Large-Cap Blend | Around 175 | 20% | Invests in companies showing strength or improvement in management of ESG factors and seeks to maintain a higher level of women on boards than the Russell 1000. |
| Glenmede Women in Leadership | Glenmede Investment Management LP | 0.85% | U.S. Large-Cap Value | About 75 | 0% | 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. |
| BNY Mellon Women's Opportunities ETF | BNY Mellon Investment Management | 0.50% | U.S. Large-Cap Growth | About 50 | 100% | Invests in U.S. companies with strong financial characteristics and relative strength in gender equality, particularly through workplace policies and practices. Also invests in companies with products and services focused on the ability of women to meet their work and personal goals and responsibilities. |
| Hypatia Women CEO ETF | Hypatia Capital Management | 0.85% | U.S. Large-Cap Blend | About 160 | 100% | Seeks to invest in companies with a woman CEO or board chair, US$500 minimum in market cap, and a primary listing in the U.S. |
| Calvert Sustainable US Equity Select Fund | Morgan Stanley Investment Management | 1.24% | U.S. Large-Cap Blend | Around 170 | 33% | Seek to maintain higher weighted-average women on boards than the Russell 1000 Index. Also, seeks to maintain a carbon profile in with the appropriate Paris-aligned benchmark or a substantially lower carbon footprint than the market benchmark. |
| Ampega Diversity Plus Aktienfonds | Ampega Investment GmbH | 1.06% | Germany Large-Cap Blend Equity | About 50 | 0% | Invests predominantly in European companies that prioritize the widest possible workforce diversity. |
| Calvert Sustainable Developed Europe Equity Select Fund | Morgan Stanley Investment Management | 1.24% | Europe Large-Cap Blend | Around 100 | 33% | Seek to maintain higher weighted-average women on boards than the MSCI Europe Index. Also, seeks to maintain a carbon profile in with the appropriate Paris-aligned benchmark or a substantially lower carbon footprint than the market benchmark. |
| AVA Gender Equality Tracker | Avanza Fonder AB | 0.50% | Europe Equity | About 75 | 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 | Nomura Asset Management Co., Ltd. | 0.165% | Japan Large-Cap Blend | About 300 | 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. |
| iFreeETF MSCI Japan Empowering Women Index WIN | Daiwa Asset Management Co. Ltd | 0.15% | Japan Large-Cap Blend | About 330 | 100% | 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. |
| Smart ESG Empowering Women Net Return ETN | Mitsubishi UFJ Securities Holdings | unspecified | Japan Large-Cap Blend | About 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 | BMO Global Asset Management | 0.35% | N. America Large-Cap Growth (>50% Can.) | About 40 | 50% | Invests in North American companies demonstrating gender diverse leadership. Employs proprietary WIL criteria. |
| BMO Women in Leadership Fund ETF | BMO Global Asset Management | 0.39% | ||||
| KCGI The Woman Securities Investment Company | KCGI Asset Management | 1.26% | Republic of Korea Equity | About 30 | 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 above publicly available content is for informational purposes only and does not constitute investment advice.
Posted in Equity Funds, Statistics