Impact Shares YWCA Women’s Empowerment ETF debuts on NYSE
Non-profit ETF sponsor Impact Shares has launched the Impact Shares YWCA Women's Empowerment ETF (WOMN) on the NYSE.
The new ETF allows investors to deploy capital in companies that have aligned their business practices with gender-equality standards while also powering the future efforts of YWCA, an organisation that has been a leader in women’s advocacy for the last 160 years.
Impact Shares, with backing from The Rockefeller Foundation’s Zero Gap Portfolio, has set out to partner with leading non-profit organisations who want to leverage capital markets to further their missions and increase their social impact. The Zero Gap portfolio is focused on building new financial products and markets which can channel critical capital toward the world’s most challenging problems. This partnership with YWCA to launch WOMN follows on the heels of the recent debut of the Impact Shares NAACP Minority Empowerment ETF (NACP) and an anticipated launch in collaboration with the United Nations Capital Development Fund next month.
“The WOMN ETF puts the power to empower women in everyone’s hands. It allows us to leverage the capital markets to further our 160-year mission to eliminate racism and empower women. The entire YWCA network, made up of more than 200 local associations, is excited about this innovative product that provides the investor the opportunity to generate both financial and social returns, and helps fuel the future of our work,” says Alejandra Y Castillo, CEO of YWCA USA.
WOMN is designed to track the Morningstar Women’s Empowerment Index, built with the gender equality data and scoring methodology of Equileap, which represents 200 companies culled from 1200 of the largest US-listed publicly traded companies based on each company’s Gender Equality Score, which is evaluated under a set of 19 gender equality criteria.
Impact Shares, itself a 501(c)(3) charity, will donate the net advisory proceeds it receives from each ETF it sponsors back to the collaborating nonprofit partner, creating meaningful engagement with corporate America and providing the investing public with more targeted, credible social-impact investing options.
“We believe this is an important step in the evolution of women’s advocacy. YWCA has established themselves as the leading women’s organisation and the ETF provides them with the tools needed to expand their impact into the private sector and help companies demonstrate leadership on issues impacting women. We are excited to partner with YWCA in providing investors access to a basket of companies that have strong policies and practices in support of women’s empowerment and gender equality,” says Ethan Powell, CEO of Impact Shares.