Eventide has an ETF coming out on October 1st - the Eventide High Dividend ETF (ELCV). The 0.49% fee will illicit boos from the crowd, but that’s more than 50% less than the fee of its mutual fund counterpart! I’ll be keeping an eye on it.I invest as much of my family's equity allocation as I can (outside of our employer-sponsored retirement plans, which don't offer it) in Eventide's main fund (Gilead). Eventide has a thoughtful screening and selection process that is based on a Christian ethical framework. It is not a Boglehead-style fund, in that it is actively managed and it is expensive compared to index funds (1.18% ER for ETILX, the >$100K version).
I do not invest in it because I think it will "beat the market." Indeed, because of its expense ratio and its sector tilts (which are more or less the inevitable result of screening) for planning purposes I assume it will trail its benchmark indexes over time. (I think its managers believe that well-run companies with these values will outperform over time, and of course I hope they are right, but I don't assume that is the case.) I also accept that any participation in public equity markets entangles all of us (whatever our ethical framework) in systems that often operate at odds with our own principles—indeed, from my point of view, that is true of any participation in the USD-denominated economy, since I believe that economy is intertwined with historical and present exploitation of various kinds.
Still, at least at the margin, Eventide gives me a moderately diversified way to deploy our family's wealth with ethical intent and to ensure that we have less of a beneficial interest in firms that clearly are pursuing goals that I myself would not pursue if I were a direct owner or manager. I'm very grateful their fund exists and take advantage of every new tranche of liquidity to move our assets to it.
Statistics: Posted by Horton — Fri Sep 27, 2024 9:19 pm — Replies 84 — Views 14246