Tidal Wave of ESG Funds Brings Profit to Wall Street
By By Michael Wursthorn
March 16, 2021
Sustainability has been good for Wall Street’s bottom line.
Exchange-traded funds that explicitly focus on socially responsible investments have 43% higher fees than widely popular standard ETFs.
The environmental, social, and governance funds’ average fee was 0.2% at the end of last year, while standard ETFs that invest in U.S. large-cap stocks had a 0.14% fee on average, according to data from FactSet.
“ESG creates a fantastic revenue possibility for large firms,” said Dr. Wayne Winegarden, a senior fellow at the Pacific Research Institute. . .