We know, we know...the launch of yet another ETF. You can hardly contain your excitement, right?
After all, Goldman Sachs Group, BNY Mellon, JPMorgan Chase and Cathie Wood’s Ark Investment Management have all launched ETFs in December, at least one of which claims to be focused on ESG investments and "transparency".
But the latest ETF offering - the BAD ETF - is actually a breath of fresh air in a market environment where everyone is pushing and shoving to be the most ESG compliant while using the most green energy buzzwords.
The new ETF "tracks companies that make most of their cash from selling alcohol or cannabis, casinos or gaming, and developing pharmaceutical products," according to Yahoo! News.
Tommy Mancuso, president and founder of the BAD Investment Company, which owns the EQM BAD Index that BAD will track, told Yahoo: “We don’t think social stigma should be a primary factor when it comes to deciding what’s a good investment.”
He continued: “It’s kind of almost up to someone’s discretion on what’s considered ESG and what’s not. We’re not trying to hide anything here.”
The ETF has an expense ratio of 0.75%.
And the best part? The ticker was readily available. “Somehow we were able to get that with no issues, which I found fairly surprising,” Mancuso concluded.
We'll drink to that...