Socially responsible investment products exist in order to investors the ability to build a broadly diversified portfolio while being able to avoid companies that operate in personally unappealing industries. It's not a huge space in the ETF market (by my count, there's only around $3 billion in total assets invested in funds that could even loosely be described as socially conscious). Most follow a general ESG theme although some target more specific strategies such as women in leadership, religious values and gender diversity. The latest offering from Legg Mason may be a first though - socially conscious dividend growers.
The ClearBridge Dividend Strategy ESG ETF (NASDAQ:YLDE) is an actively managed ETF targeting large-cap companies that have a history of growing dividends, are in a solid financial position to continue growing their dividends, have attractive valuations and exhibit strong ESG practices.
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