Pride Month meets Wall Street as new LGBTQ ETF hits the market
Just in time for Pride Month, Wall Street has its first LGBTQ-focused ETF.
ProcureAM, in partnership with LGBTQ Loyalty Holdings, launched the new LGBTQ100 ESG ETF this week. The first-of-its-kind fund uses LGBTQ community data to identify the top 100 companies that most align with the group’s environmental, social, and corporate governance (ESG) goals. The fund includes names like Estee Lauder, Facebook, Starbucks, PayPal, Visa and more.
In an interview with CNBC’s “ETF Edge“, ETF Trends CEO Tom Lydon gave his outlook on the fund.
“You’ve got a real strong group of advocates for this, for the right time, and I think those things are going to be key and critical to what’s going on in the future,” he said Wednesday, pointing to supporters of the fund such as former congressman Barney Frank, and Martina Navratilova, a former professional tennis player and a known advocate for…