Newday Impact recently launched its second ETF, an actively managed fund that seeks to invest in companies that adhere to the UN Sustainable Development Goals.
The San Francisco-based company’s Newday Sustainable Development Equity ETF invests at least 80% of its net assets in such holdings at its discretion. The company donates 5% of its net revenue to “environmental and social advocates to affect change,” it notes on its site.
The firm launched its first ETF, the Newday Ocean Health ETF, in June. Net assets in that ETF are about $1.4m.
At the time the company filed an initial prospectus for that fund, it also included one for another product, the Newday Diversity, Equity & Inclusion ETF, which does not appear to have launched.
The top holdings in the new Sustainable Development Equity ETF include stock in Apple, Microsoft, Stride, Amazon, McKesson, Tesla and Aflac. Net fees for the ETF are 75 basis points, according to the prospectus.
Newday is the subadviser to the fund, with Toroso Investments being the investment adviser.
Portfolio managers are Newday’s Gabriel Mass and Shireen Eddleblute, as well as Toroso’s Michael Venuto and Charles Ragauss.
