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Newday Impact, a San Francisco-based asset management and financial technology company focused on socially responsible investing, today launched the Newday Ocean Health ETF (NYSE Arca: AHOY). Newday Impact’s first exchange traded fund is focused on protecting and restoring healthy marine ecosystems. It builds on the company’s five years of impact investing and relationships with nonprofit organizations working to mitigate environmental damage to the world’s oceans.
Developed in partnership with Toroso Investments and Tidal ETF Services, AHOY seeks long-term capital appreciation through investments in companies that are diverting ocean-bound plastic waste, supporting sustainable fisheries, controlling ocean acidification caused by CO2 emissions, and actively using other strategies to combat ocean pollution and other threats to marine health. The portfolio is also aligned with UN Sustainable Development Goals including zero hunger, clean water and sanitation, decent work and economic growth, responsible consumption and production, climate action, and life below water.
Through its ESG screening methodology and proprietary fundamental research models, the Newday Ocean Health ETF currently has over 80% of the companies that either have a direct or indirect connection to protecting and restoring healthy marine ecosystems and climate change.
“Several sustainable investing ETFs are created by financial services companies that see marketing opportunities in the ESG space but include environmentally irresponsible companies to improve the fund’s performance,” said Doug Heske, CEO of Newday Impact, in a news release. "Our Ocean Health ETF portfolio is 100% focused on companies with effective, legitimate green agendas, based on the knowledge and relationships we’ve built in our five years of impact investing.”
Heske added: “We believe that affecting positive change can also drive positive financial returns, and this fund is an opportunity for socially conscious investors to make a difference in both areas."
Newday Impact has a policy to contribute a portion of revenues from its thematic portfolios to its nonprofit partners. The company will donate 5% of its net revenue of the Ocean Health ETF to EarthEcho International, an environmental nonprofit organization established by Philippe and Alexandra Cousteau in honor of their father, Philippe Cousteau Sr., and their grandfather, legendary explorer Jacques-Yves Cousteau.
Newday Impact has partnered with Philippe Cousteau and EarthEcho International since 2021 to provide sustainability education to thousands of students and teachers who are part of the SIFMA Foundation’s National Stock Market Game. The EarthEcho team has also provided Newday Impact with important insights into ocean health and sustainability that the company uses in building its investment portfolios.
“Ocean health is critical to the survival of the planet for reasons ranging from its role in absorbing CO2 and supplying oxygen to providing food for billions of people around the world, creating millions of jobs, and even supplying ingredients for life-saving medications,” said Philippe Cousteau in the release. "Newday Impact’s new ETF is an important step in helping fund companies that are investing in protecting the ocean ecosystem for future generations."
AHOY has an expense ratio of 0.75%.
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