In a previous article, I introduced the concept of “Womenomics” and the fact that statistically it was proven that companies tend to perform better when there is wage equality and more gender balance at senior management levels.
I have already mentioned some companies which are leaders in women equality however If we are going to follow this concept, we need to supervise the companies and update our watchlist each time there is a change in their management structure. Furthermore, it is very difficult for us to know how a company is operating in this front and what wages they are paying.
An alternative is to invest in thematic ETFs which have a specific strategy (in our case the empowerment of women).
Below is an interesting ETF which has been identified:
Impact Shares YWCA Women’s Empowerment ETF
This ETF has been launched this August and trades on the NYSE Arca under the ticker WOMN. The ETF, which tracks the Morningstar Women's Empowerment Index, will cover large- and midcap companies that are "empowering women".
The fund basically invests in shares which, according to set criteria, will have gender balance in leadership/workforce, equal compensation and work-life balance and policies promoting gender equality.
The fund holds 200 companies and trades in USD. The ISIN Code is US45259A1007
You can find current holdings in the below image.
The fund manager is Impact Shares, and as their name implies, the company is committed to providing impact investing by promoting socially conscious ETFs. ImpactShares have partnerships with various non- profit organizations that are involved in lobbying social values in corporations.
An interesting aspect here is that a substantial part of the fees taken by ImpactShares from managing the fund are given back to their non-profit partners.