Top 20 Socially Responsible Mutual Funds
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According to Wikipedia, socially responsible investing (SRI)
describes an investment strategy which combines the intentions to maximize both financial return and social good. In general, socially responsible investors favor corporate practices which are environmentally responsible, support workplace diversity, and increase product safety and quality.
In the May issue of Financial Planning magazine, there’s a special report on SRI with a list of top 20 mutual funds that involve in such activities. The screening of funds out of hundreds, possibly thousands, of mutual fund offerings uses certain criteria to make sure that the fund’s investments have no or restricted exposures to industries that engage in
- Alcohol
- Tobacco
- Gambling
- Defense/Weapons
- Animal testing
While at the same time, the fund should have positive investments in
- Products/Services
- Environment
- Human rights
- Labor relations
- Employment equality
- Community investing
Because of the relatively small number of funds that can be considered as socially responsible, identifying a SR funds isn’t as straightforward as, say, using any mutual fund screening tool ro find a fund that has 10% return, 1% ER, and $1,000 minimum investment. With the list, which ranks funds based on their average 5-year return, however, making a selection is a little easier if this is the area that one wants to get in.
The following are the top 20 SR mutual funds from the Financial Planning magazine. I added the ER (expense ratio) colum so you can have an idea the cost of owning the fund as well as the link to the fund’s Morningstar summary page for easy reference.
| Fund | Category | 5-yr return (%) | ER (%) |
| GuideSteon Funds Intl Equity (GIEYX) |
Foreign Large Blend |
16.65 | 0.96 |
| Calvert World Values Intl Equity (CWVGX) |
Foreign Large Blend |
14.15 | 1.71 |
| Winslow Green Growth (WGGFX) |
Small Growth | 14.14 | 1.45 |
| Ave Maria Catholic Value (AVEMX) |
Mid-Cap Blend | 12.48 | 1.52 |
| Portfolio 21 (PORTX) | World Stock | 11.50 | 1.63 |
| Ariel (ARGFX) | Mid-Cap Blend | 11.14 | 1.07 |
| Calvert Large-Cap Growth (CLCIX) |
Large Growth | 11.08 | 0.96 |
| Neuberger Berman Socially Resp Inv (NBSRX) |
Large Blend | 11.03 | 0.95 |
| Timothy Plan Large/Mid-Cap Value (TLVAX) |
Large Value | 10.72 | 1.51 |
| New Alternatives (NALFX) | World Stock | 10.69 | 1.25 |
| GuideStone Funds Value Equity (GVEYX) |
Large Value | 10.42 | 0.71 |
| GuideStone Funds Small Cap (GSCYX) |
Small Blend | 9.82 | 1.05 |
| MMA Praxis International (MMPNX) |
Foreign Large Blend |
9.79 | 2.41 |
| Timothy Plan Small-Cap Value (TPLNX) |
Small Blend | 9.44 | 1.52 |
| Maxim Aeriel Mid-Cap Value |
Mid-Cap Blend | 8.96 | 0.98 |
| MMA Praxis Value Index (MVIAX) |
Large Value | 8.77 | 1.11 |
| AXA Enterprise Socially Responsible (EGSAX) |
Large Value | 8.44 | 1.56 |
| MFS Union Standard Equity (MUSEX) |
Large Blend | 8.37 | 0.95 |
| Parnassus Equity Income (PRBLX) |
Large Blend | 8.23 | 0.99 |
| Pax World High Yield (PAXHX) |
High Yield Bond | 8.16 | 1.15 |
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Maybe it’s jsut me, but it seems like this is showing a trend that being socially responsible is expensive (high ERs). I know many of these are global/foreign which increases the expenses.
Timothy Plan Large/Mid-Cap Value (TLVAX) with 1.51% ER???