New ETFs target carbon and health care

Article Excerpt

August is traditionally a very quiet month for the launch of new investment products, including ETFs. But here’s one that’s brand-new to the market. We also look at another recent entrant to the ETF world, the Middlefield Group. First Trust EIP Carbon Impact ETF $20.33 (New York symbol ECLN) includes listed energy companies that work to reduce carbon and other greenhouse gas emissions. The ETF targets companies that produce products or services in support of activities such as renewable energy equipment, energy storage, carbon capture, and energy transmission equipment. The ETF excludes companies involved in coal, oil and gas production or transportation. The portfolio currently holds 29 stocks; top holdings include NextEra Energy Partners, Xcel Energy, CMS Energy, Eversource Energy, TC Pipelines and Sempra Energy. The ETF just started on August 19, 2019, and has so far raised $2.0 million; it charges a high MER of 0.95%. If you refuse to invest in a carbon unfriendly company, you don’t hurt the company. But…