Cathie Wood Files for New Transparency ETF

News released this afternoon highlights Ark Invest's new fund by Cathie Woods, the "Transparency ETF" which will 'will follow an index that tracks the price movements in stocks of about 100 companies that receive high scores for transparency based on a proprietary scoring methodology from the index provider Transparency LLC'.

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[Lord_Falcon]

Not a bad move for Cathie and Ark but also pointless unless it's radically different and more strict to current ESG funds in it's picking methodology. The ESG system is broken because it allows companies to offset the harm their doing with good actions and it takes public opinion into account but the public can be fooled with marketing. Apple, Microsoft, Google, Tesla and even Coca-Cola are all commonly in ESG funds which anyone with common sense can see is ridiculous. Sure they have the occasional initiative that does some environmental good but they only do them if they greatly benefit the company. Amazon pushing for higher minimum wages for example seems like a big company trying to give back to the little guy but in reality they've been automating heavily (which only huge companies that can invest in robotics can do) so a rise in minimum wages really hurts their competition. This action will still be counted as a positive for the ESG calculations though because most of the public are fooled. In reality all large companies use cheap foreign labour and sweat shops ad do very little if any checking on their supply chain so they claim ignorance. Some software companies might be ok but any companies that make hardware or physical products of any kind is very rarely ESG. Coca-Cola is the #1 producer of plastic in the world by a huge margin for Christ sake!