New Anti-Woke ETF Launches On Wall Street, Already Focuses On “Progressive” Issues
A new conservative-themed exchange-traded fund launched on Tuesday. The God Bless America ETF (NYSEARCA: YALL) aims to fight against ‘woke’ sentiments, appealing to the political right.
Launched by Toroso Investments and sub-advised by Curran Financial Partners, the YALL aims to primarily exclude companies it lists as “activists,” or companies known to implement environmental, social, and governance (ESG) requirements.
“The Sub-Adviser eliminates companies that, in the Sub-Adviser’s assessment, have emphasized politically left and/or liberal political activism and social agendas at the expense of maximizing shareholder returns,” they said in the fund’s prospectus.
YALL is attached with a 0.65% expense ratio, and will hold 30-40 companies at any time, targeting those with a track record for job growth, and companies with low price-to-earnings ratios. Its top three positions are in Tesla with 7.98%, Nvidia with 5.79%, and Amgen with 5.06% portfolio stakes.
Funnily enough, the anti-woke ETF also has a progressive cause: the ETF is reportedly promising to boycott business that speak out on items like Georgia’s law that places restrictions on voting, provided they have a market cap in excess of $1.0 billion. They also intend to place funds in firms that view payroll as an investment, not an expense, which seems to fall directly against their principal of excluding ESG-focused companies.
The ETF last traded at $20.30 on the NYSE.
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