Hennessy Stance ESG ETF
Top 10 Holdings
What is STNC?
The Fund is an actively managed exchange-traded fund ( ETF ) that will invest, under normal circumstances at least 80% of the value of its net assets (plus the amount of any borrowings for investment purposes) in exchange-traded equity securities of U.S. large capitalization issuers that meet environmental, social, and governance ( ESG ) standards, as determined and in the sole discretion of Stance Capital, LLC. The Fund currently considers companies within the Russell 1000 Index and S&P 500 Index to be large capitalization issuers. In identifying investments for the Fund, Stance utilizes three independent processes. First, we apply a rules-based methodology to the universe of large capitalization companies and identifies companies that successfully manage in Stance s view and in its sole discretion sustainability-related key performance indicators ( KPIs ) such as energy productivity, carbon intensity, water dependence, waste profile and KPIs relating to governance, including capacity to innovate, unfunded pension fund liabilities, chief executive officer/average worker pay, safety performance, employee turnover, leadership diversity, percentage tax paid, and percent of bonus linked to sustainability performance. Companies who have engaged exclusively or primarily in weapons, tobacco, or thermal coal, may be excluded from consideration. Second, we apply a machine learning model which uses financial, risk, and other factors to identify companies that in our view, based on our sole discretion are most likely to outperform both in absolute returns and in risk adjusted returns over the next quarter. Finally, the portfolio is optimized to attempt to minimize tail risk and maximize diversification.
ETFs related toSTNC
ETFs correlated to STNC include DUHP, JHML, TPLC
What is ETF correlation?
Correlation is a measure of the strength of the relationship between two ETFs. It quantifies the degree to which prices of the two ETFs typically move together.
Here, correlation is measured over the past year with the Pearson correlation coefficient (Pearon’s r), which ranges from -1 to 1.
Using ETF correlations in portfolio and strategy construction
ETF correlations can help you create investing strategies and portfolios. Use them to:
- •Build a diversified portfolio from uncorrelated or inversely correlated ETFs with the aim of minimizing portfolio risk.
- •Compare correlated or related ETFs to find one with a lower expense ratio or higher trading volume.
- •Create an investing strategy that hedges an ETF with an uncorrelated or inversely correlated ETF.
We show information directly obtained from our data provider, Xignite. Data shown here is provided by Xignite, an unaffiliated third party. Composer believes the information shown here is reliable, but has not been verified and there is no guarantee that the information is accurate.
We show information based on calculations performed by Composer using data from our provider. Information provided here is based on calculations performed by Composer using data sourced from Xignite, an unaffiliated third party. Composer believes this information is reliable, but has not verified the data and there is no guarantee that the calculations are accurate.