If you’re passionate about something, you should always invest in it.
If you’re a huge video game fan, you can invest in video game companies. If you want to slow the warming of the planet, you can put your money into green energy stocks and fossil fuel-free ETFs. If there’s an general or niche interest, there’s a stock to support said interest and profit off of its success.
For those passionate about LGBTQ rights, there aren’t any public companies that specifically work in promoting equality. Sure, you could always make a donation to non-profit organizations like the Human Rights Campaign and GLAAD (which you can totally write off on your taxes). Yet you can’t invest in a stock the sake of retiring and promoting LGBTQ rights.
Fortunately, one recently established ETF not only helps you make money in the stock market, but promotes companies supporting LGBTQ equality in the workplace. Best of all, you can invest in it right now.
EQLT directly invests in companies supporting LGBTQ equality in the workplace.
$EQLT is an exchange-traded fund made of 199 companies on the Workplace Equality Index. Every company on the Workplace Equality Index creates a safe working environment for their LGBTQ staff. Buying one share of $EQLT is like buying small percentages of each of these companies.
Companies on the Workplace Equality Index and in EQLT must meet strict inclusion guidelines.
To be listed on the WEI, a company must prohibit discrimination based on gender identity or sexual orientation. They must also provide health insurance for same-sex partners. On the technical side of things, the companies listed must also have a $250 million minimum market cap and an average daily trading volume of $2 million. Companies like Yahoo, Yelp, Viacom, and many others are all part of the index and $EQLT ETF.
EQLT launched in February of 2014 and performed rather well since.
$EQLT increased by 35.71% in the last year (as of this writing), better than the market average. It currently trades at $33.33 a share, which makes it accessible for new investors. Denver Investments runs and operates the Workplace Equality index, which is a weighted average of the included companies. ALPS Advisors manages the $EQLT ETF.
Should you invest in $EQLT? If you’re passionate about LGBTQ rights, EQLT is one of the few options you have to directly invest in the promotion of this cause. The stock’s performance is also pretty impressive, as it invests in hundreds of popular companies, many who are listed on the S&P 500. If you’re passionate about this cause and want to invest in EQLT, be sure to do your research in the fund before you decide to buy it through your brokerage. If you’d like to avoid investing in ETFs, you could directly invest in the companies listed on the index, which will let you support the cause while owning individual stocks.