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The Goldman Sachs JUST U.S. Large Cap Equity ETF (JUST) tracks an index of Russell 1000 companies “that demonstrate just business behavior.” The methodology scores companies on issues such as customer privacy, diversity, inclusion, gender diversity and greenhouse gas emissions. The portfolio invests in those companies with above-average scores.
JUST is a hybrid creature in the world of socially-responsible investing. On the one hand, it fits into the legacy values-investing segment by providing a liberal alternative to funds that avoid so-called “sin stocks.” JUST’s focus on inclusion and diversity is at the opposite end of the spectrum from the Inspire 100 ETF (BIBL), which has been criticized for enshrining bigotry by deliberately excluding companies that engage in the “promotion or acceptance of the LGBT lifestyle.”
JUST also appeals to investors interested in the growing ESG segment of the fund market, where companies are rated and weighted based on environmental, social and governance factors. ESG (the strategy, not the ticker) is different from traditional socially-responsible investing, which typically tried to exclude bad actors and industries. Many advisers worried that this came at the expense of diversification and returns. Today’s ESG strategies aim to be more inclusive. Instead of ignoring large swathes of the market, the goal is to maintain market-like diversification with a tilt toward the best corporate citizens. It’s worth nothing that there are plenty of skeptics when it comes to ESG investing, and critics say ESG whitewashes a portfolio rather than driving companies to truly change their behavior.
Issuers have rolled out dozens of ESG-style funds in recent years to appeal to younger investors who are concerned about the social impact of their investments, so JUST has plenty of competition. For cost conscious investors, there are inexpensive ESG options such as the Vanguard ESG U.S. Stock ETF (ESGV) and the iShares ESG MSCI U.S.A. ETF (ESGU).
Historical Trading Data
1 Month Avg. Volume9,300
3 Month Avg. Volume10,385
Alternative ETFs in the Large Cap Growth Equities Category
5 Day Net Flows:
0
1 Month Net Flows:
1.23 M
3 Month Net Flows:
7.16 M
6 Month Net Flows:
23.99 M
1 Year Net Flows:
-5.32 M
3 Year Net Flows:
-130.09 M
5 Year Net Flows:
-130.09 M
10 Year Net Flows:
-130.09 M
Realtime Rating
The adjacent table gives investors an individual Realtime Rating for JUST on several different metrics, including liquidity, expenses, performance, volatility, dividend, concentration of holdings in addition to an overall rating. The "A+ Metric Rated ETF" field, available to ETFdb Pro members, shows the ETF in the Large Cap Growth Equities with the highest Metric Realtime Rating for each individual field. To view all of this data, sign up for a free 14-day trial for ETFdb Pro. To view information on how the ETFdb Realtime Ratings work, click here.
Copyright MSCI ESG Research LLC [2018]. All Rights Reserved. MSCI ESG Research LLC’s (“MSCI ESG”) Fund Metrics products (the “Information”) provide environmental, social and governance data with respect to underlying securities within more than 23,000 multi-asset class Mutual Funds and ETFs globally. MSCI ESG is a Registered Investment Adviser under the Investment Advisers Act of 1940. MSCI ESG materials have not been submitted, to nor received approval from, the US SEC or any other regulatory body. None of the information constitutes an offer to buy or sell, or a promotion or recommendation of, any security, financial instrument or product or trading strategy, nor should it be taken as an indication or guarantee of any future performance, analysis, forecast or prediction. None of the Information can be used to determine which securities to buy or sell or when to buy or sell them. The Information is provided “as is” and the user of the Information assumes the entire risk of any use it may make or permit to be made of the Information. All Information is provided solely for your internal use, and may not be reproduced or redisseminated in any form without express prior written permission from MSCI. Neither MSCI ESG nor any of its affiliates or any third party involved in or related to creating any Information makes any express or implied warranties, representations or guarantees, and in no event will MSCI ESG or any such affiliate or third party have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) relating to any Information. More information on MSCI ESG Fund Metrics, provided by MSCI ESG Research LLC, can be found at https://www.msci.com/esg-fund-metrics.
Information is provided 'as is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use, please see disclaimer.
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