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Highest Scoring Gender-Equality Funds 2021

Bridging gender gaps unlocks valuable investment opportunities. Companies that invest in women and support women’s empowerment have the potential to harvest overlooked opportunities and outperform their competitors.
Gender-Equality Score is derived by Equileap Scorecard on the basis of 19 criteria centered on women leadership in workforce, compensation, positive policies, and transparent and fair governance towards women.

Fund name

Gender equality grade

Gender equality rank percentile

Gender equality score

Expense ratio (%)

1-year return (%)

Pax Ellevate Glbl
Women’s Leadership

A

98.6th

52 / 100

0.55

4.29

Saturna
Sustainable Equity

A

93.4th

49 / 100

0.75

16.44

Pax Large Cap Fund
Individual Investor

A

94.6th

47 / 100

0.95

14.69

Green Century MSCI
International Index

A

87.2th

47 / 100

1.28

-2.26

Calvert
International Equity

A

87th

47 / 100

1.15

4.39

Pax MSCI EAFE ESG
Leaders Index

A

86.4th

46 / 100

0.49

-4.25

Praxis Value Index

A

92.2th

46 / 100

0.86

-4.37

Boston Common ESG
Impact US Equity

A

91.6th

46 / 100

1

9.53

Green Century Equity
Individual Investor

A

91.5th

46 / 100

1.25

13.6

Boston Common ESG
Impact Intl

A

81.5th

45 / 100

1

5.48

Source: www.asyousow.org, www.genderequalityfunds.org , Equileap Scorecard, UN Women’s Empowerment Principles
While all selected funds have sustainable investing mandate or are members of The Forum for Sustainable and Responsible Investment (US-SIF), some of the funds with high gender equality do not score well on other impact dimensions. For instance, the top two funds, Pax Ellevate and Saturna Sustainable Equity, have high exposure to prison industry. Others, including Green Century and Calvert International Equity are exposed to military weapons industries, and Praxis is engaged in deforestation in spite of its sustainability mandate.
Gender equality funds (www.genderequalityfunds.org) develops women empowerment scores for greater transparency and accountability, which helps investors to direct their investment allocation. Broad index allocation shows wide disparity. S&P500 index overall grades A for gender equality, however, small-cap Russell 2000 scores F, pointing to a persisting gender gap when accounting for bottom two-thirds of a broad investable U.S. stock market.

About the author:

Dr. Tilly has 19 years of executive experience in financial management in New York, Amsterdam and Hong Kong in the advisory roles in asset management and private equity industry. PhD in Finance from Rotterdam School of Management, Erasmus University.
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