UBS launches InsightShares Patriotic Employers ETF

Jan 30th, 2018 | By | Category: Equities

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UBS Investment Bank has launched the InsightShares Patriotic Employers ETF (HONR US) on NYSE Arca, providing exposure to US-listed companies that demonstrate strong support for US military veterans through post-service employment opportunities.

UBS InsightShares Military Veterans ETF

The fund provides exposure to companies that demonstrate strong support for US military veterans through post-service employment opportunities.

“We believe this is an innovative way for investors to express their support for the veteran community,” said Richard Cea, executive director of exchange-traded products at UBS. “This ETF provides investors with exposure to companies that recognize the value of our nation’s veterans to the workforce.”

It tracks the Military Veterans Index which determines the extent to which company policies, practices, and outcomes support the employment of US veterans by utilizing data from the Victory Media’s Military Friendly Employer ratings.

All companies rated as Bronze, Silver, or Gold (i.e. any stocks with above-average ratings) by Victory Media are selected as final constituents and weighted equally within the portfolio. Rebalancing occurs on a quarterly basis.

The vast majority (88.6%) of constituents are classified as large-cap with mid-caps making up a further 11.4%. Industrials and financials are the two largest sector exposures, each accounting for 20.2%, followed by information technology (12.8%), health care (10.9%) and consumer discretionary (10.1%).

HONR has an expense ratio of 0.65% and has been created in partnership with US white-label ETF provider Exchange Traded Concepts.

A portion of the revenues generated by HONR will be donated to veterans-related charities through the UBS Optimus Foundation.

The fund is the second to be issued under the “InsightShares” brand of ETFs – a series of thematic impact ETFs focused on promoting values-based causes – following the recent launch of the InsightShares LGBT Employment Equality ETF (PRID US). PRID provides exposure to US-listed companies with employment policies that promote LGBT equality. Its expense ratio is also 0.65%.

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