A vegan ETF just launched. Should you buy?
By Paul R. La Monica, CNN Business
September 10, 2019
New York (CNN Business)One investing firm is trying to capitalize on the success of the plant-based food craze with a new meatless ETF.
The US Vegan Climate ETF is set to begin trading Tuesday under the ticker symbol "VEGN." As you might expect, Beyond Meat (BYND), up nearly 500% from its initial public offering price, is one of its holdings.
But investors looking at the ETF should be warned. It's not a fund that focuses on plant-based food.
The ETF is based on the Beyond Investing US Vegan Climate Index — an index with 275 companies. That index, itself, is based on the Solactive US Large Cap Index, which tracks America's biggest publicly traded firms.
Beyond Investing, which runs the VEGN ETF, says its index "excludes companies engaged in animal exploitation, defense, human rights abuses, fossil fuels extraction and energy production, and other environmentally damaging activities" according to the fund's prospectus. Beyond Investing's team decides which stocks to exclude and which new ones to add.
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