Wayne Winegarden in the Wall-Street Journal, “Tidal Wave of ESG Funds Brings Profit to Wall Street”
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. . .