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You Can Put Your Money Where Your Pride Is


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June is LGBT Pride Month, so let's take a closer look at the first ETF focused on LGBTQ rights in the office.

Back in February 2014, a different kind of ETF hit the market. Christened the  Workplace Equality Portfolio  ( EQLT ), this ETF is wholly comprised of stocks that support lesbian, gay, bisexual and transgendered equality in the workplace. Denver Investment portfolio manager John N. Roberts, who backed the ETF, spoke to  Barron's  about the fund shortly after its launch. 

"This is meant to appeal not to just to the LBGT community, but to anybody who shares the values of workplace equality," he said. "People have not had ways to align their values with their investing."

Over two years later, the ETF has returned 10.18% since its inception. Thus far in 2016, the ETF is up 2.69%, placing it behind the S&P 500, which has gained 3.58% year-to-date. 

In order for a stock to make it into the ETF's underlying Workplace Equality Index, the company has to have LGBT-supportive corporate policies and practices as determined by Denver Investments. As of June 6, yhe Workplace Equality Portfolio counts 240 stocks among its holdings , including Apple  ( AAPL ),  Hershey  ( HSY ) and  Nike  ( NKE ). Most of the ETF's holdings belong to the Consumer Discretionary sector (23.02%), followed by Financials (21.74%) and Information Technology (17.25%). 

Below are the nine top holdings in the Workplace Equality ETF and their weighting within the fund. This is by no means an exhaustive list of publicly-traded companies that support LGBT equality in the workplace, but it can be a starting point if you're interested in supporting the LGBTQ community through investing.

Click on the interactive chart to view data over time. 

1. Boston Scientific Corporation ( BSX ): Develops, manufactures, and markets medical devices used in various interventional medical specialties worldwide. Market cap at $30.64B, most recent closing price at $22.75.

Weight in Workplace Equality Portfolio: 0.51%.


2. Caesars Entertainment Corporation ( CZR ): Provides casino-entertainment and hospitality services in the United States and internationally. Market cap at $1.25B, most recent closing price at $8.28

Weight in Workplace Equality Portfolio: 0.51%.

3. Genworth Financial Inc. ( GNW ): Provides insurance, wealth management, investment, and financial solutions in the United States and internationally. Market cap at $1.82B, most recent closing price at $3.68.

Weight in Workplace Equality Portfolio: 0.50%.

4. Lexmark International Inc. ( LXK ): Develops, manufactures, and supplies printing and imaging solutions for offices. Market cap at $2.35B, most recent closing price at $37.39.

Weight in Workplace Equality Portfolio: 0.48%.

5. LinkedIn Corporation ( LNKD ): Operates an online professional network. Market cap at $17.92B, most recent closing price at $135.70.

Weight in Workplace Equality Portfolio: 0.49%.

6. McKesson Corporation ( MCK ): Offers medicines, pharmaceutical supplies, and information and care management products and services for the healthcare industry. Market cap at $41.92B, most recent closing price at $187.17.

Weight in Workplace Equality Portfolio: 0.49%.

7. NVIDIA Corporation ( NVDA ): Provides visual computing, high performance computing, and mobile computing solutions that generate interactive graphics on various devices ranging from tablets and smart phones to notebooks and workstations. Market cap at $24.79B, most recent closing price at $46.24.

Weight in Workplace Equality Portfolio: 0.57%.

8. St. Jude Medical Inc. ( STJ ): Develops, manufactures, and distributes cardiovascular and implantable neurostimulation medical devices worldwide. Market cap at $22.19B, most recent closing price at $78.15. Weight in

Workplace Equality Portfolio: 0.58%.

9. Yelp Inc. ( YELP ): Operates a platform that connects people with local businesses primarily in the United States. Market cap at $2.07B, most recent closing price at $27.18. Weight in Workplace Equality Portfolio: 0.53%.

(Monthly return data sourced from MOD. Weighting data sourced from EQLT Fund. All other data sourced from FINVIZ.)

ABOUT US

Kapitall Wire is a division of New Kapitall Holdings, LLC. Kapitall Generation, LLC is a wholly owned subsidiary of New Kapitall Holdings, LLC. Kapitall Wire offers free investing ideas, intended for educational information purposes only. It should not be construed as an offer to buy or sell securities, or any other product or service provided by New Kapitall Holdings, LLC, and its affiliate companies.

Securities products and services are offered by  Kapitall Generation, LLC  - a  FINRA / SIPC  member.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.



This article appears in: Investing , Stocks



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