The Return on Character ETF is a new gauge in the market that launched on Thursday and discriminated stocks based on the character of the CEO, Businesswire reports.
The ETF, which ranks stocks based on a character model of integrity, forgiveness, responsibility, and compassion, does not include portfolios of companies run by Tesla’s Elon Musk. Meta’s CEO Mark Zuckerberg is the other top executive who does not make a cut.
The new fund, launched by ROC Investments, is actively managed and rebalances its 75 to 150 portfolio holdings once per year. The ETF trades under ticker “ROCI” and carries an expense ratio of 0.49%.
ROC CEO Dan Cooper says the pillars included in the ETF often lack in the financial world. He believes the scores derived from the character model will enable the ETF to outperform in the long term.
The top holdings in ROCI ETF are Apple, Amazon, Microsoft, Costco, Berkshire Hathaway, and Nvidia.
The ROCI ETF was informed by research conducted by KRW International, which established that the character of senior executives affects the entity’s ability to deliver on its strategy. FB: NASDAQ is up -0.072%, TSLA: NASDAQ is down -1.21%.